Ramco Systems bags Fighter Jet Maintenance Software deal
Global Aviation software provider, Ramco Systems has secured an order from one of the leading Defense Contractors, informed the company through a filing to the exchange.
The said client operates and maintains advanced tactical aircrafts which are used to provide training to the pilots of defense establishments. Ramco’s wide-ranging functionality for fleet management and deep understanding of industry helped secure this order.
This will enable the client to manage its fleet of advanced fighter jet aircraft by deploying a unified enterprise application for Maintenance, Engineering, Supply Chain, Safety, Compliance, and Quality.
Ramco System’s Aviation business is witnessing some improved demand scenario from the rotor-wings segment as higher crude prices have led to improved exploration activity and simulated investment sentiments around the world. Also, the company is working on a couple of significant deals and if any of those materialize it could revive the growth prospects in the segment. Currently, the segment accounts for 25 per cent of revenues and has seen no growth in the last three years.
The order intake of the company stood at around US$104 million up 21 per cent in FY18 taking unexecuted order book to US$153 million up by 32 per cent in FY18 (~2.1x of revenues).
Ramco Systems, a subsidiary of the Ramco group is Chennai-based IT product company that develops innovative enterprise software solutions for businesses across industries.
With this development, the stock price of Ramco Systems jumped by 3 per cent and made an intraday high of Rs. 375, on Wednesday.