Ramco Systems rose 1.01% to Rs 195.20 at 15:05 IST on BSE after the company said that Ramo ERP on Cloud secured order from MHW, a leading US-based service provider for wine, spirits, and malt beverage product companies in the US.
The announcement was made during trading hours today, 9 April 2014.
Meanwhile, the S&P BSE Sensex was up 355.19 points or 1.59% at 22,698.64.
On BSE, so far 4,688 shares were traded in the counter as against average daily volume of 7,559 shares in the past one quarter.
The stock hit a high of Rs 202.70 and a low of Rs 194 so far during the day. The stock had hit a 52-week high of Rs 250.40 on 7 March 2014. The stock had hit a 52-week low of Rs 67.55 on 4 July 2013.
The stock had underperformed the market over the past one month till 7 April 2014, declining 21.14% compared with the Sensex's 1.93% rise. The scrip had also underperformed the market in past one quarter, sliding 2.23% as against Sensex's 7.97% rise.
The small-cap company has equity capital of Rs 15.92 crore. Face value per share is Rs 10.
Ramco Systems said that MHW has spent decades perfecting a transparent back-office service model to help its clients (both alcohol manufacturers and distributors) with a cost effective and efficient approach to conducting business in the US beverage alcohol industry. MHW was looking for a comprehensive and integrated solution that would address the entire spectrum of its business processes from sales and distribution, CRM, supply chain, compliance, to accounting, Ramco Systems said in a statement.
Commenting on the order, Mr. Virender Aggarwal, CEO, Ramco Systems said, "We are glad to be associated with MHW. This is an important win for us in the US as we were chosen against established cloud vendors in the region for our robust offering and unique capabilities. The Alcohol Beverage industry has been evolving with new product developments and innovation. The MHW win further reinforces the strength of the solution to cater to the entire ecosystem that connects the suppliers, manufacturers and the customers in the alcohol beverage industry. We look forward to adding significant value and business benefits to MHW in its journey ahead".
Mr. John Beaudette, President, MHW said, "We found most standard ERPs rigid with limited scope to extend the solution or build customization. Our nature of business required an application that can be customized to address the changing business scenarios with a support for mobility. After evaluating multiple ERP software, we zeroed in on Ramco ERP on Cloud, as it offered a comprehensive ERP, delivered on a Cloud platform, with extension development toolkits and mobility. The flexibility of the solution to customize without affecting the core product and the innovative architecture, coupled with excellent reference from existing clients ensured we selected Ramco ERP as our IT solution".
Once implemented, MHW aims at bringing all its business functions on to a common IT platform, with the objective of increasing customer satisfaction, reducing operational costs, ensuring quicker turnaround times and bringing cost effectiveness., Ramco said in a statement.
MHW is the foremost solutions partner for both aspiring and seasoned brands in the spirits, wine and beer industry. As a nationally licensed importer, distributor, and service provider since 1934, MHW's state-of-the-art back-office capabilities help brands navigate the US market. MHW is headquartered in Manhasset, New York with additional operations in California, New Jersey, and other key markets.
Separately, Ramco Systems and Schneider Electric in joint statement issued on Tuesday, 8 April 2014 said that Schneider Electric, a global specialist in energy management, has entered into a strategic partnership with Ramco Systems, an enterprise software product company. The partnership will see Ramco's Advanced Process Optimization software, OPTIMA, become an important part of Schneider Electrics solutions for the cement industry and strategically help explore business opportunities, a combined statement from Ramco and Schneider said.
With cement manufacturers focusing their efforts on reducing energy and emissions, improving overall performance and managing consistent product quality grade, plant operators are looking for solutions that stabilize the production process and maintain the optimal operation point for minimal effect on the environment. Schneider Electric's strategic partnership with Ramco will deliver this much required solution, with a specific focus on optimization of kiln and mill operations, to its cement customers, the statement said. The solution will support increased production volumes, promote the ease and uptake of alternative fuels and support human operators to make the best decisions for changing operating conditions, the statement said.
Mr. Diego Areces, Mining, Minerals and Metals Solution President, Schneider Electric said, "Schneider Electric's solutions for the Cement industry focuses on two key areas of importance to our customers maximizing production and quality across the supply chain and minimizing their energy consumption and emissions. By integrating Ramco's optimization offering, we can provide our customers with a complete solution which supports their complex operational challenges. The combined offer of process control, expert system and energy management allows the deployment of a unique optimization strategy. This strategy will ensure optimum consumption of resources, best use of assets, maintain quality of product, and stabilize processes while building an environmentally sustainable business".
Mr. Virender Aggarwal, CEO, Ramco Systems, said, "It is a moment of great pride as a global multinational like Schneider Electric has chosen our advanced process control optimization solution, OPTIMA, to integrate with its suite of offerings to address the global market. It is an endorsement of the capabilities that we have built to address the needs of the process manufacturing industry. Schneider Electric through its wide network of operations will help explore business opportunities for Ramco OPTIMA in the Cement industry. We look forward to a mutually successful engagement with Schneider Electric."
OPTIMA is an advanced process optimization solution that has been designed to improve plant productivity and efficiency and leverages technologies like fuzzy logic, regression analysis and artificial intelligence techniques to offer the best in class optimization solutions.
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments.
Ramco Systems reported a consolidated net loss of Rs 5.49 crore in Q3 December 2013, lower than net loss of Rs 6.94 crore in Q3 December 2012. Net sales rose 2.2% to Rs 67.65 crore in Q3 December 2013 over Q3 December 2012.
Ramco Systems provides next generation, end-to-end enterprise solutions that render complete transformation of the business in real time.
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