Ramco Systems Ltd Share Price – NSE  /  BSE

IT - Software, Small Cap

The airline company will construct its new engine MRO facility in Unbuk, near Incheon International Airport, claiming to be the largest engine maintenance plant in Asia, consolidating all engine MRO capabilities into a single cluster. The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family.

The implementation of Ramco’s Aviation Software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites.

With comprehensive MRO-specific functionalities, and integrated e-publications all on a unified platform, offered as an out of the box solution, Ramco Aviation will be the technological foundation for Korean Air. In addition, the airline’s engine maintenance center will also benefit from digital enablers such as Mobility via Anywhere Apps, HUBs, Dashboards and other integrations to the ecosystem offerings, powered by the company, said Ramco.

Chan Woo Jung, vice president and head of maintenance & engineering division at Korean Air, said, “The implementation of Ramco’s Engine MRO capabilities will help us enhance our facility's efficiency and precision and set new standards in engine maintenance, positioning us as a top MRO provider.”

Sundar Subramanian, CEO, Ramco Systems, said, “Our relentless focus on building a best-in-class MRO Suite, complete with specialized Engine MRO functionalities, and bundled with cutting-edge tech stacks has truly proved to be a game-changer. We look forward to empowering Korean Air to deliver unparalleled safety and service excellence to their valued customers.”

Ramco Systems is a well-established enterprise software product provider known for its multi-tenant cloud and mobile-based enterprise software, serving over 1000 customers globally with 2 million users. The company has been driving innovation for over 25 years and has proven its capabilities in Global Payroll, Aviation Aerospace & Defense, and ERP, delivering tangible business value.

The company reported a 47.58% decline in consolidated net loss of Rs 26.35 crore despite of 0.59% rise in revenue from operations to Rs 128.26 crore in Q3 FY24 over Q3 FY23.

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Ramco Systems announced its strategic engagement with Korean Air, a flag carrier of South Korea and its largest airline, to implement its flagship aviation software, Ramco Aviation Suite at Korean Air's Engine Maintenance Center. This association was officially announced at MRO Americas 2024, Chicago.

This engagement comes close on the heels of the airline announcing the construction of its new engine MRO facility in Unbuk, near Incheon International Airport, claiming to be the largest engine maintenance plant in Asia, consolidating all engine MRO capabilities into a single cluster. The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family.

The implementation of Ramco's Aviation Software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites. With comprehensive MRO-specific functionalities, and integrated e-publications all on a unified platform, offered as an out of the box solution, Ramco Aviation will be the technological foundation for Korean Air. In addition, the airline's engine maintenance center will also benefit from digital enablers such as Mobility via Anywhere Apps, HUBs, Dashboards and other integrations to the ecosystem offerings, powered by Ramco.

Ramco's robust Engine MRO solution will cater to the current and future expansion plans of the airline, thereby strengthening the airline's aircraft engine maintenance capabilities and solidifying its presence in the MRO segment.

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Ramco Systems announced that it has won the 2024 ISG Paragon Awards™ ANZ ‘High Performing Partnership' Award, in collaboration with its esteemed client a leading New Zealand telecommunications provider.

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Net Loss of Ramco Systems reported to Rs 26.35 crore in the quarter ended December 2023 as against net loss of Rs 50.27 crore during the previous quarter ended December 2022. Sales rose 0.60% to Rs 128.26 crore in the quarter ended December 2023 as against Rs 127.50 crore during the previous quarter ended December 2022.

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