Ramco Systems Ltd

- Ramco Systems is not currently looking for any debt or equity raising activity. - The company aims to retire the temporary debt taken in the recent quarter through increased bookings and large project go-lives in the next two quarters. - With the ongoing large project implementations, they expect to invoice customers, improving working capital. - The company anticipates managing working capital levels without needing additional debt or equity at this stage. - For future funding, they believe reduced working capital requirements and small short-term debt should suffice, avoiding the need for significant new fundraising in subsequent years.

- By end of the current year, most investments for aviation product will be completed, with some ongoing refinements. - HR and payroll investments will continue but incrementally lower than before, focusing now on order booking and quick execution. - Logistics and ERP investments made, with some additional investment expected for about one more year, but not significant. - Future investments will mainly target automation, testing, execution, and implementation to improve speed and efficiency. - The company aims to exploit the existing investments in aviation and HRP by year-end and then logistics and ERP within the next 6-12 months. - No major jump in capital expenditure expected; focus is on continuous refinement and leveraging past investments.

- Ramco Systems aims to stabilize and grow order booking, targeting a return to $23-$24 million quarterly order book from the current lower levels. - Growth will be driven primarily by Advanced Aviation & Defense (AAD) and HR Payroll (HRP) segments initially, with Logistics and ERP expected to contribute in about a year. - The company anticipates a shift from license sales with deferred payments to annuity and subscription models for steadier, recurring revenue. - Investments focused on speeding up project execution, improving customer satisfaction, and increasing go-lives are expected to enhance revenue recognition in upcoming quarters. - Marketing and travel expenses are planned to increase modestly to support sales efforts. - Pipeline and win rates are improving, supported by certified connectors with Oracle and Workday, and efforts to expand into new geographies continue. - Geopolitical and macroeconomic risks exist but are acknowledged as common across industries.

- The company aims to increase order bookings from current low levels (~$20 million) back to around $23-$25 million per quarter to drive revenue growth. - Revenue growth depends on the composition of order book (license, subscription, payroll processing) and timing of project go-lives, typically 3–8 months lag. - Expect gradual increase in revenues as bookings improve; breakeven in the current financial year is uncertain, with management hoping but not guiding on profitability. - Investments in aviation, HRP, and logistics ERP products nearing completion; future growth driven mainly by HRP and AAD (aviation asset) products initially, followed by logistics and ERP. - Operating costs expected to be stable, with incremental increases in salary and marketing related to growth. - Order book execution and higher annuity revenue expected to stabilize and improve earnings over next few quarters. - Bad debt provisions (~$2 million/quarter) continue but considered manageable.

- Unexecuted order book stood around $177.77 million as per Page 19 data. - Order book comprises new orders, renewals, reversals, and adjustments for base foreign currency rates. - Typical order book duration is about 3-4 years, with consumption over 15-20 quarters. - Company aims to increase order booking to $23-$26 million per quarter to reach previous highs. - Current order book shows some decline but efforts are ongoing to rebuild and stabilize. - Large portion of order book involves implementation (initial period) followed by support and subscription services. - Orders take between 3 to 12 months to go live and contribute to revenue. - Company is not planning additional debt/equity raising at this stage, expecting to manage with current working capital and live projects. - Focus on diversifying product segments (ERP, HRP, AAD) and expanding geographies to improve order inflow.