Ramco Systems Ltd — Interim / Quarterly Report 2019

Oct 31, 2018

ramco

October 31, 2018

National Stock Exchange of India Ltd Exchange Plaza, 5th Floor Plot No:C/1, G Block Bandra Kurla Complex, Bandra (E) Mumbai — 400 051 Scrip: RAMCOSYS

BSE Ltd., Corporate Relationship Department Phiroze Jeejheebhoy Towers Dalal Street, Mumbai —400 001 Scrip: 532370

Dear Sir,

Sub: Submission of Un-audited Financial Results for the Quarter and Half year ended 30thSeptember, 2018 and Outcome of Board Meeting

In continuation of our letter dated 23' October, 2018, please find enclosed the following:

• Un-audited (Provisional) Financial Results for the Quarter and Half year ended 30thSeptember, 2018 (Standalone and Consolidated), duly approved and taken on record by the Board of Directors at their meeting held today for the said results.
• Press release for the said results.
• Limited Review Report from the Statutory Auditors on the above Unaudited Financial Results of the Company.

The Board meeting commenced at 12.30 p.m. and concluded at Lttop.m.

We request you to kindly take the above on record as required under the provisions of SEBI (LODR) and acknowledge receipt.

Yours sincerely, For RAMCO SYSTEMS LIMITED

P R KARTHIC COMPANY SECRETARY

End: As above

Ramco Systems Limited

Corporate Headquarters: 64, Sardar Patel Road, Taramani, Chennai 600 113, India I Tel: +91 44 2235 4510 / 6653 4000, Fax: +91 44 2235 2884 I CIN : L72300TN1997PLC037550 I Registered Office: 47, P.S.K. Nagar, Rajapalayam 626 108, India

Global Offices: India I Singapore I Malaysia I China I Hong Kong I Philippines I Australia I Dubai I USA I Canada I United Kingdom I Germany I Switzerland I South Africa I Sudan www.ramco.com

Ramco Systems Limited

Registered Office : 47, PSK Nagar, Rajapalayam -626 108 ramco

Corporate Office : No. 64, Sardar Patel Road, Taramani, Chennai 600 113

CIN: 172300TN1997PLC037550 E-mail: InvestorcomplaintsOramco.com Website: www.ramco.com

Statement of Consolidated Financial Results for the Quarter & Half Year Ended September 30, 2018

Si.No.	Particulars			Unaudited for the Quarter Ended						Unaudited for the Half Veer Ended		Audited for the YearEnded
		30.09.2018		30.06.2018		30.09.2017		30.09.2018		30.09.2017		31.03.2018
		Rs. Min.	USD Min.	Rs. Min.	USD Min.	Rs. Mln.	USD Mln.	R. Min.	USD Min.	Rs. Mln.	USD Min.	Rs. Mln.	USD Mln.
1	Income
	Revenue from operations	1,314.72	19.03	1,256.34	19.02	1,151.48	18.02	2,571.06	38.05	2,254.86	35.18	4,692.19	73.15
	Other income	32.99	0.48	20.89	0.31	20.64	0.32	53.88	0.80	45.35	0.71	97.20	1.51
	Total Income	1,347.71	19.51	1,277.23	19.33	1,172.12	18.34	2,624.94	38.85	2,300.21	35.89	4,789.39	74.66
2	Exp
	Purchase of stock-in-trade	16.78	0.24	9.94	0.15	0.44	0.01	26.72	0.40	4.56	, 0.07	7.87	0.12
	Changes in Inventories of stock-in-trade		-			(0.24)			-	(0.12)		(0.16)	-
	Employee benefits expense	599.90	8.69	566.79	8.58	484.82	7.59	1,166.69	17.27	969.13	15.12	2,018.10	31.46
	Finance costs	8.68	0.13	7.56	0.11	3.18	0.05	16.24	0.24	4.64	0.07	13.09	0.20
	Depreciation and amortisation expense	129.90	1.88	125.40	1.90	126,65	1.98	255.30	3.78	250.78	3.91	500.98	7.81
	Other expenses	469.10	6.79	434.18	6.57	412.58	6.45	903.28	13.36	926.01	14.45	1,908.26	29.75
	Total Exp	1,224.36	17.73	1,143.87	17.31	1,027.43	16.08	2,368.23	35.05	2,155.00	33.62	4,448.14	69.34
3	Profit/(Loss) befhereof Proflt/(Loss) of an	123.35	1.78	133.36	2.02	144.69	2.26	256.71	3.80	145.21	2.27	341.25	5.32
4	associate and tax (1 - 2)Share of Profit/(Loss) of an associate	-	-	-	-	-	-	-	-	-	-
5	Profit/(Loss) before tax (3 + 4)	123.35	1.78	133.36	2.02	144.69	2.26	256.71				1.41	0.02
6	Income tax expense								3.80	145.21	2.27	342.66	5.34
	Current tax	61.26	0,89	47.96	0.73
	Deferred tax (includes MAT credit)	21.30	0,31	17.72	0.27	45.0834.62	0.71	109.22	1.62	80.18	1.25	186.87	2.91
	Total tax imp	82.56	1.20				0.54	39.02	0.58	30.06	. 0.47	40.10	0.63
7	arcallt/(Loss) (5 - 6)			65.68	1.00	79.70	1.25	148.24	2.20	110.24	1.72	226.97	3.54
	8 Other comprehensive income (OCI)	40.79	0.58	67.68	1.02	64.99	1.01	108.47	1.60	34.97	0.55	115.69	1.80
	(I) Items that will not be reclassified to profit or loss
	Remeasurement of defined benefit obligations (net)Income tax on above Items	-							-			20.57	0.32
	Total	--		-	-	-	-	-	--			(7.19)	(0.11)
										-	-	13.38	0.21
	(ii) Items that may be reclassified to profit or lossEffect of change in functional currency of foreignoperations	51.83	(3.75)	29.49	(4.32)	(18.79)	(2.17)	81.32	(8.07)	(20.44)	(1.54)	(24.22)	(0.44)
	Income tax on above items	-	-	-	-	-		-	-	-
	Total	51.83	(3.75)	29.49	(4.32)	(18.79)	(2.17)	81.32	(8.07)	(20.44)	-(1.54)	(24.22)	(0.44)
	Other comprehensive income, net of tax (I + II)	51.83	(3.75)	29.49	(4.32)	(18.79)	(2.17)	81.32	(8.07)	(20.44)	(1.54)	(10.84)	(0.23)
9	Total comprehensive income (7 + 8)	92.62	(3.17)	97.17	(3.30)	46.20	(1.16)	189.79	(6.47)	14.53	(0.99)	104.85	1.57
	10 Profit/(Loss) attributable to:
	Share holders of the Company	39.07	0.55	67.10	1.02	65.33	1.02	106.17	1.57	34.86	0.55	112.85	1.76
	Non-controlling interest	1.72	0.03	0.58		(0.34)	(0.01)	2.30	0.03	0.11		2.84	0.04
		40.79	0.58	67.68	1.02	64.99	1.01	108.47	1.60	34.97	0.55	115.69	1.80
	11 Total comprehensive income attributable to:
	Share holders of the Company	90.90	(3.20)	96.59	(3.30)	46.54	(1.15)	187.49	(6.50)	14.42	(0.99)	102.01	1.53
	Non-controlling interest	1,72	0.03	0.58		(0.34)	(0.01)	2.30	0.03	0.11		2.84	0.04
		92.62	(3.17)	97.17	(3.30)	46.20	(1.16)	189.79	(6.47)	14.53	(0.99)	104.85	1.57
	12 Paid-up Equity Share Capital-Face value of 84.10/-each	306.13	6.04	305.98	6.04	305.07	6.03	306.13	6.04	305,07	6.03	305.75	6.04
	13 Earnings Per Share on SI. No. 10(a)- Face value of 84.10/-each, in Rs. and USD:
	Basic	1.28	0.02	2.20	0.03	2.15	0.03	3.47	0.05	1.15	: 0.02	3.70	0.06
	Diluted	1.28	0.02	2.20	0.03	2.15	0.03	3.47	0.05	1.15	0.02	3.70	0.06
	(Annualised only for yearly figures)

For RAM 0 SYSTEMS LIMITED tr.( Ij -J4 P.R. Venketrama Raja

	Notes: (The amounts in brackets in the notes denote the flaures for the corresoondino auarter of the previous year).
1	The above financial results of the Company were reviewed by the Audit Committee and approved by the Board of Directors in its meeting
	held on October 31, 2018. The Consolidated Financial Results are prepared in accordance with the Indian Accounting Standards (Ind-AS) as
	prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder. The Statutory Auditors have
	carried out a limited review of the above results.
2	Employee benefits expense for the quarter includes Rs.11.44 Mln. USD 0.17 Mln. (Fts.1.11 Mln. USD 0.02) towards the proportionate
	fair value of the stock options granted to various employees, amortised over the graded vesting period. Other expenses for the quarter
	includes foreign exchange fluctuation gain of Rs.60.60 Min. USD 0.88 Mln. (Fts.59.29 Mln. USD 0.92 Min.) and bad debts / provision
	for doubtful debts & advances of Rs.65.92 Min. USD 0.95 Mln. (48.85 Mln. USD 0.76 Min.).
3	During the quarter, the Company had allotted a total of 14,486 equity shares of Rs.10/- each under the Employees Stock Option Schemes
	of the Company on August 02, 2018. Further 7,082 equity shares of Fts.10/- each were allotted under the Employees Stock Option Schemes
	of the Company after the end of the quarter. Accordingly, as at the date the paid up capital of the Company increased to
	Rs.306.20 Mln. USD 6.05 Min. from Rs.305.75 Mln. USD 6.04 Mln. as at March 31, 2018.
4	The Company has one operating segment- viz., Software Solutions & Services.
5	Figures for the previous period(s) have been regrouped / restated wherever necessary to make them comparable with the figures for thecurrent period(s).
	By order of the Board
	For Ramco Systems Limited
	Place : Chennai
	Date : October 31, 2018Chairman

Consolidated Statement of Assets and Liabilities

	As at 30.09.2018		As at 31.03.2018
Particulars	unaudited		audited
	Rs. Mln.	USD Mln.	Rs. Mln.	USD Mln.
ASSETS
Non-current assets
Property, plant and equipment	218.59	3.03	169.14	2.62
Intangible assets	2,222.17	30.80	2,435.80	37.77
Intangible assets under development	220.10	3.05	-	-
Investment in associate	12.49	0.20	12.49	0.20
Financial assets
Loans	45.00	0.62	40.00	0.62
Investments	15.00	0.23	15.00	0.23
Trade receivables	79.66	1.11	63.25	0.98
Other financial assets	1,514.73	20.99	1,062.98	16.48
Tax assets (net)	146.40	2.03	136.05	2.11
Deferred tax assets (net)	392.62	5.44	431.64	6.69
Other non-current assets	2.96	0.04	1.88	0.03
	4,869.72	67.54	4,368.23	67.73
Current assets
Financial assets
Loans	6.13	0.09	11.39	0.18
Trade receivables	1,313.31	18.20	1,181.22	18.32
Cash and cash equivalents	123.96	1.72	138.82	2.15
Other financial assets	1,594.17	22.09	1,603.54	24.86
Tax Assets (Net)	75.20	1.04	74.07	1.15
Other current assets	200.60	2.78	144.54	2.24
	3,313.37	45.92	3,153.58	48.90
Total assets	8,183.09	113.46	7,521.81	116.63
EQUITY AND LIABILITIES
Equity
Equity share capital	306.13	6.04	305.75	6.04
Other equity	5,446.13	73.70	5,231.96	79.82
Equity attributable to equity holders of the Parent	5,752.26	79.74	5,537.71	85.86
Non-controlling interests	10.30	0.17	7.99	0.13
Total equity	5,762.56	79.91	5,545.70	85.99
Liabilities
Non-current liabilities
Financial liabilities
Other financial liabilities	40.11	0.56	31.45	0.48
Deferred tax liabilities (net)	1.26	0.02	1.16	0.02
ProvisionsOther non-current liabilities	165.968.05	2.300.11	142.319.70	2.210.15
	215.38	2.99	184.62	2.86
Current liabilities
Financial liabilities
Borrowings	704.87	9.77	380.02	5.89
Trade payables	482.73	6.69	459.18	7.12
Other financial liabilities	42.38	0.59	15.38	0.24
Provisions	11.40	0.16	10.90	0.17
Liabilities for current tax	25.94	0.36	27.71	0.43
Other current liabilities	937.83	12.99	898.30	13.93
	2,205.15	30.56	1,791.49	27.78
Total liabilities	2,420.53	33.55	1,976.11	30.64
Total equity and liabilities	8,183.09	113.46	7,521.81	116.63

For RA CO SYSTEMS LIMIT D P41- - C•

P.R. Venketrama Raja

Chairman

Ramco Systems Limited ramco Registered Office : 47, PSK Nagar, Rajapalayam - 626 108. CIN: L72300TN1997PLC037550

Corporate Office : No. 64, Sardar Patel Road, Taramani, Chennai 600 113. Website : www.ramco.com, E-mail: investorcomplaints@ramco.com

Rs. Min. Statement of Standalone Financial Results for the Quarter & Half Year Ended September 30, 2018 Si. No. Particulars Unaudited for the Quarter Ended Unaudited for the Half Year Ended Audited for the Year Ended 1 30.09.2018 30.06.2018 30.09.2017 30.09.2018 30.09.2017 31.03.2018 Income Revenue from operations 776.65 743.98 673.03 1,520.63 1,376.36 2,849.77 Other income 22.30 15.04 30.25 37.34 59.06 132.44 Total Income 798.95 759.02 703.28 1,557.97 1,435.42 2,982.21 2 Expenses Purchase of stock-in-trade (0.05) 1.44 0.44 1.39 4.56 7.00 Changes in inventories of stock-in-trade - - (0.24) - (0.1.2) (0.16) Employee benefits expense 295.82 286.02 223.90 581.84 446.33 931.68 Finance costs 8.55 7.46 2.46 16.01 3.91 11.95 Depreciation and amortisation expense 125.60 121.53 122.89 247.13 243.40 486.85 Other expenses 132.29 145.73 139.24 278.02 358.74 696.82 Total Expenses 562.21 562.18 488.69 1,124.39 1,056.82 2,134.14 3 Profit/ (Loss) before tax (1 - 2) 236.74 196.84 214.59 433.58 378.60 848.07 4 Income Tax expense Current tax 47.35 39.37 23.09 86.72 58.19 160.71 Deferred tax (including MAT credit) 21.31 17.71 34.62 39.02 30.06 29.00 Total tax expenses 68.66 57.08 57.71 125.74 ' 88.25 189.71 5 Profit/(Loss) (3 - 4) 168.08 139.76 156.88 307.84 290.35 658.36 6 Other comprehensive income (OCI) Items that will not be reclassified to profit or loss Remeasurement of defined benefit obligations (net) - - - - - 20.57 Income tax on above items - -- - (7.19) Total - - 13.38 Items that may be reclassified to profit or loss Effect of change in functional currency of foreign operations (18.03) (1.5.43) (8.58) (33.46) (8.68) (7.13) Income tax on above items -- - - - - Total (18.03) (15.43) (8.58) (33.46) (8.68) (7.13) Other comprehensive income, net of tax (I + II) (18.03) (15.43) (8.58) (33.46) '' (8.68) 6.25 7 Total comprehensive income (5 + 6) 150.05 124.33 148.30 274.38 281.67 664.61 8 Paid-up Equity Share Capital - Face value of Rs.10/- each 306.1.3 305.98 305.07 306.13 305.07 305.75 9 Earnings Per Share on SI. No. 5- Face value of Rs.10/- each (Annualised only for yearly figures): Basic 5.50 4.57 5.15 10.07 9.54 21.60 Diluted 5.50 4.57 5.15 10.07 9.54 21.60

For RAM S SYSTEMS LIMITED T.

P.R. Venket-lrna Raja

Standalone Statement of Assets and Liabilities		Rs. Mln.
	As at	As at
Particulars	30.09.2018	31.03.2018
ASSETS	unaudited	audited
Non-current assets
Property, plant and equipment	172.98	133.16
Intangible assets	2,222.15	2,435.78
Intangible assets under development	220.10	-
Investment in subsidiaries	3,007.83	3,007.83
Financial assets
Loans	45.00	40.00
Investments	15.00	15.00
Trade receivables	11.80	11.80
Other financial assets	44.65	54.08
Tax assets (net)	132.39	127.49
Deferred tax assets (net)		431.64
	392.62
Other non-current assets	2.96	1.87
	6,267.48	6,258.65
Current assets
Financial assets
Loans and advances
	710.89	480.38
Trade receivables	1,563.47	1,152.33
Cash and cash equivalents	30.70	28.46
Other financial assets	389.38	437.05
Tax Assets (Net)	40.30	41.60
Other current assets	140.63	109.36
	2,875.37	2,249.18
Total assets	9,142.85	8,507.83
EQUITY AND LIABILITIES
Equity
Equity share capital	306.13	305.75
Other equity	7,544.64	7,243.58
Total Equity	7,850.77	7,549.33
Liabilities
Non-current liabilities
Provisions	61.28	55.94
Other non-current liabilities	8.05	9.70
	69.33	65.64
Current liabilities
Financial liabilities
Borrowings	687.46	366.44
Trade payables	245.95	201.15
Other financial liabilities	42.30	14.85
Provisions	3.50	3.50
Other current liabilities	243.54	306.92
	1,222.75	892.86
Total liabilities	1,292.08	958.50
Total equity and liabilities	9,142.85	8,507.83

	Notes: (The amounts in brackets in the notes denote the figures for the corresponding auarter of the orevious year)
1	The above financial results of the Company were reviewed by the Audit Committee and approved by the Board of Directors in its meeting
	held on October 31, 2018. The Standalone Financial Results are prepared in accordance with the Indian Accounting Standards (Ind-AS) as
	prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder. The Statutory Auditors have
	carried out a limited review of the above results.
2	Employee benefits expense for the quarter includes Rs.11.44 Mtn. (Rs.1.11 Mln.) towards the proportionate fair value of the stock options
	granted to various employees, amortised over the graded vesting period. Other expenses for the quarter includes foreign exchange fluctuation
	gain of Rs.81.28 Mln. (Rs.56.07 W.) and bad debts / provision for doubtful debts & advances of Rs.4.79 Min. (Rs.11.86 Mln.).
3	During the quarter, the Company had allotted a total of 14,486 equity shares of Fts.10/- each under the Employees Stock Option Schemes
	of the Company on August 02, 2018. Further 7,082 equity shares of Rs.10/- each were allotted under the Employees Stock Option Schemes
	of the Company after the end of the quarter. Accordingly, as at the date the paid up capital of the Company increased to
	Rs.306.20 Min. from Fts.305.75 Min. as at March 31, 2018.
4	The Company has one operating segment- viz., Software Solutions & Services.
5	Figures for the previous period(s) have been regrouped / restated wherever necessary to make them comparable with the figures for thecurrent period(s).
	By order of the Board
	For MITCO Systems Limited
Place :	ChennaiP.R. Venketransa Raja
Date :	October 31, 2018Chairman

Extract of Consolidated Financial Results for the Quarter & Half year Ended September 30, 2018Corporate Office: 64, Sardar Patel Road, Taramani, Chennai 600 113.Registered Office : 47, PSK Nagar, Rajapalayam - 626 108.Ramco Systems Limited												ramco
E-mail: investorcomplaints@ramco.comCIN: L72300TN1997PLC037550Particulars	Website: www.ramco.com
			Unaudited for the Quarter Ended						Unaudited for the Half Year Ended			Audited for the Yearš
	30.09.2018		30.06.2018		30.09.2017		30.09.2018		30.09.2017			31.03.2018
	Ra. Min.	USD Min.	Ra. Min.	USD Min.	Rs. Min.	USD Min.	ita, Min.	USD Min.	Ra. Min.	USD Min.	Ru. Min.	USD Hin.
Total income from operations2	$\frac{1}{247.71}$	19.51	1,277.23	19.33	$\frac{1}{1}$ $\frac{1}{2}$	18.34	2,624.94	38.85	2,300.21	35.89	4,789.39	74.66
GNet profit / (loss) for the period (before tax, exceptional item$\mathbf{\tilde{z}}$	$\frac{123.35}{ }$	1.78	33.36	2.02	144.69	2.26	256.71	eP	145.21	$\overline{27}$	342.66	A
Net profit / (loss) for the period before tax (after exceptional items)'n	123.35	ls1	133.36	as	144.69	$\frac{1}{26}$	256.71	3.80	145.21	$\overline{27}$	342.66	3
Net profit / (loss) for the period after tax (after exceptional items)v	$\frac{62.04}{10}$	35	35.99	isIs	8 3	¦ä	$\frac{108.47}{2}$	3	E,	ြိုး	115.69	eF
it / (loss) for the periodTotal comprehensive income for the period (comprising prof(after tax) and other comprehensive income (after tax))in,	$\frac{12}{3}$	(3.17)	$\frac{1}{2}$	ခြံ	$rac{26}{16.20}$	$\frac{1}{2}$	$\frac{189.79}{200}$	(6.47)	$\frac{14.53}{2}$	$\sqrt{0.99}$	$\frac{104.85}{2}$	E
Equity share capital (face value of Rs.10 each)0	306.13	8.8	305.98	8.6.	305.07	6.03	306.13	Į?	305.07	6.03	305.75	6.04
ance SheetReserves (excluding revaluation reserve) as shown in the Bair,							5,446.13	$\frac{1}{2}$	5,121.59	$\frac{1}{26.94}$	5,231.96	79.82
Earnings per share for the period (before and after extraordinary items) of Rs.10 each , in Rs. and USD: (Annualised only for yearly figures)80
Basic	1.28	aI	$\frac{2}{3}$	ခြ	2.15	80.0	3.47	0.05	Ë	0.02	ន្ត្រី	န္တိုး
Diluted	$\frac{1}{28}$	3	ន្ទ្រ	ဒြ	$\frac{15}{245}$	E	SE	a	1.15	S	$\frac{5}{2}$
The Consolidated Financial Results are prepared in accordance with the Indian Accounting Standards (Ind-AS) as prescribed under Section 133 of the Companies Act, 2013the Audit Committee and approved by the Board of Directors in its meeting held on October 31, 2018.for the Quarter & Half Year ended September 30, 2018 are as below:Auditors have carried out a limited review of the above resultsThe above financial results of the Company were reviewed byread with the relevant rules issued thereunder. The StatutoryKey numbers of Standalone Financial Results of the CompanymN												ig, Min.
Particulars			Unaudited for the Quarter Ended						Unaudited for the Half Year Ended			Audited for the Year Ended
	30.09.2018		30.06.2018		30.09.2017		30.09.2018		30.09.2017			31.03.2018
Total income from operationsProfit / (loss) before tax		798.95236.74		196.84759.02		703.28214.59		433.581,557.97		378.601,435.42		2,982.21848.07
Total comprehensive income for the period (comprising profit / (loss) for the period(after tax) and other comprehensive income (after tax))Net profit / (loss) after tax		168.08150.05		139.76124.33		156.88148.30		274.38307.84		290.35281.67		658.36664.61
Figures for the previous period(s) have been regrouped / restated wherever necessary to make them comparable with the figures for the current period(s).÷
Place : ChennalDate : October 31, 2018												P.R Venketrama RajaChairmanBy order of the BoardFor Ramco Systems Umited

RAMCO 02 RESULTS: FY 28-19

ramco

Ramco Systems Q2 order booking stood at USD 29.56mn; up 15% QoQ

Average deal size increases; Eight 'million dollar plus' deals signed Payroll led HR emerges as the largest business unit Asia continues to rule the roost with newer geographies showing great promise

Chennai, India — October 31, 2018: Ramco Systems (BSE - 532370, NSE — RAMCOSYS); a global enterprise software company focusing on enterprise cloud platform, products and services, today announced the results for the second quarter of 2018-19.

For the half year ended September 30, 2018 (H1: 2018-19), global consolidated income of Ramco Systems Limited stood at USD 38.85m (Rs 262.5cr — up 14% YoY in rupee terms) as compared to USD 35.89m (Rs 230.0cr), in the same period last year. The net profit after tax for the period, stood at USD 1.57m (Rs. 10.6cr) as against USD 0.55m (Rs 3.5cr) in the same period, last year.

For the quarter ended September 30, 2018 (Q2: 2018-19), global consolidated income stood at USD 19.51m (Rs 134.8cr) and the net profit after tax for the quarter, stood at USD 0.55m (Rs.3.9cr).

Financial highlights — Q2:

• Eight 'million-dollar-plus' deals were added in the quarter
• Order bookings in Q2 stood at USD 29.56mn up 15% QoQ
• Unexecuted order book stood at USD 161mn
• EBIDTA stands at 20% in Q2

Geography highlights — Q2:

• Revenue from markets outside India stood at 79%
• Asia (excluding India) continues to be a dominant market contributing 30% to the overall revenue; Further to successful run in Philippines and Indonesia, identifies Vietnam as the next key market

Business highlights — Q2:

• Focus offerings make up 94% of net new orders strategy to focus on key offerings paying off
• HCM clocks highest ever revenue in a quarter; becomes largest business unit (within the organization) contributing 43% of overall revenue
• Payroll led HCM continues to dominate with Managed Services seeing good traction
• Logistics revenue set to grow steadily with projects beginning to go-live
• Cost of delivery saw an increase as multiple projects required onsite implementation efforts and local hiring mandated due to U.S Defense contracts
• For second year in a row, Ramco HCM named in Gartner's Magic Quadrant for Cloud HCM Suites

Commenting on the results, P.R. Venketrama Raja, Chairman, Ramco Systems, said, "We are making rapid progress towards leveraging Artificial Intelligence and Machine Learning in enterprise applications. The future is all about moving from a passive ERP era to an Active ERP where systems understand, predict and suggest based on past transactions. At Ramco, this is the next big wave of innovation which we are deploying with select few clients in Australia and USA. Our focus on Innovation continues to be the key differentiator driving Fortune companies and large conglomerates to trust Ramco."

About Ramco Systems:

Ramco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group,

For 12i SYSTEMS LIMITED 0,t4rd

P R Venket,arna Raja

ramco

RAMCO 02 RESULTS: FY i8 -19

Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning by building features such as Talk It - which allows transactions to be carried out by simple voice commands, Bot It - which allows users to complete transaction using natural conversations; Mall It - transact with the application by just sending an email; HUB It - a one screen does it all concept built to address all activities of a user; Thumb It - mobility where the system presents users with option to choose rather than type values and Prompt It - a cognitive ability which will let the system complete the transaction and prompts the user for approval.

With 1700+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it's Monday!

Only APAC vendor to be positioned in Gartner Magic Quadrant for Cloud Financials, Cloud HCM and EAM; Enters as a Contender in The Forrester Wave(TM): SaaS Human Resource Management Systems, Q3 2017 Winner Payroll Innovation Award' for 2018 by Global Payroll Association; Positioned as 'Achiever' in Everest Group's Multi-Country Payroll Platform Assessment

For more information, please visit htto://www.ramco.com/ Follow Ramco on Twitter (ramcosvstems and stay tuned to htto://bloossamco.com

For further information, please contact:

Vinitha Ramani +91 - 44 - 66534204 vinitharamaniayamco.com

Safe Harbor

Certain statements in this release concerning our future growth prospects are forward looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT business including those factors which may affect our cost advantage, wage increases in India. our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration restrictions on Immigration, our ability to manage our international operations. reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability, arid unauthorized use of our intellectual property and general economic conditions affecting our industry. Ramco Systems may, from time to time, make additional written and oral forward-looking statements, including statements contained in our reports to shareholders. The company does not undertake to update any foiward-looking statement that may be made from time to time by or on behalf of the company.—

For RAMC• SYSTEMS Li ITED — P.R. Venketrama Raja

Chairman