Ramco Systems Limited has informed stock exchanges about receiving an Income Tax Assessment Order for Assessment Year 2023-24, which includes a tax demand and significant transfer pricing adjustments that the company intends to challenge through the appellate process.

Assessment Order Details

The IT software and enterprise solutions company received the Income Tax Assessment Order dated March 2, 2026, issued under section 143(3) read with sections 144C(3) and 144B of the Income Tax Act, 1961. The assessment covers the financial year 2023-24 and presents two key financial implications for the company.

Company's Response Strategy

Ramco Systems has indicated its intention to contest the assessment order through the established legal framework. The company disputes both the tax demand and the transfer pricing adjustments made by the income tax authorities. Management has confirmed plans to file an appeal within the statutory timeframe of 30 days from the date of receipt of the order before the appropriate appellate authority.

Financial Impact Assessment

The company has conducted a preliminary assessment of the potential financial implications arising from the disputed matters. Based on internal evaluation and consultation with tax advisors, Ramco Systems maintains confidence in achieving a favorable outcome through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 - Para B, Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed companies to inform stock exchanges about material events that could impact the company's operations or financial position. The intimation has been simultaneously shared with both the National Stock Exchange of India and BSE Limited, and the information is also available on the company's official website at www.ramco.com .

Ramco Systems has secured a significant contract with Sahar Group to provide aviation software solutions designed to enhance digital transformation initiatives and support growth in the aviation Maintenance, Repair, and Overhaul (MRO) industry. The company announced this development through an official press release dated March 04, 2026.

Strategic Partnership Details

The partnership between Ramco Systems and Sahar Group focuses on implementing comprehensive aviation software solutions that will streamline operations and improve efficiency in the MRO sector. Sahar Group, a leading aerospace services provider specializing in the UH-60 Black Hawk platform, selected Ramco's next-generation Aviation Software to support its ongoing growth initiatives.

Digital Transformation Initiative

As part of Sahar Group's plan to scale its commercial operations and expand into new aviation segments such as Parts Manufacturer Approval, Supplemental Type Certificates, and helicopter sales and leasing, the organization is investing in a modern, unified digital platform to manage increasing operational complexity. Ramco Aviation Software will serve as the core system foundation supporting this strategy, enabling greater visibility, control, and coordination across key business functions.

With integrated capabilities covering Maintenance Planning, Component Maintenance, Supply Chain, MRO and Part Sales, Quality and Compliance, and Finance, Ramco Aviation Software will provide Sahar Group with end-to-end lifecycle coverage across its operations. This comprehensive approach will help streamline processes, improve data accuracy, and support faster decision-making.

Executive Perspectives

Arnold Escobar, CEO of Sahar Group, emphasized the strategic importance of the partnership: "As part of our plan to scale and diversify our operations, we needed a platform that could support long-term growth without compromising operational discipline. Ramco Aviation Software stood out due to its established presence in the helicopter, defense, and component MRO spaces."

Manoj Kumar Singh, Chief Customer Officer – Aviation, Aerospace & Defense at Ramco Systems, highlighted the validation this contract provides: "Our selection by Sahar Group serves as further validation of Ramco's ability to support the complex needs of helicopter and defense MRO service providers. By combining deep aviation domain expertise with AI, we are helping organizations shift toward more predictive, data-driven maintenance services."

Market Position and Impact

This contract win demonstrates Ramco Systems' strong positioning in the specialized aviation software market. Ramco Aviation Software is trusted by 24,000+ users to manage 4,000+ aircraft globally, with 90+ Aviation organizations onboard. The solution serves top Airlines, 3rd party MROs, large Heli-Operators, leading Defense organizations, and major Urban Air Mobility companies worldwide.

The partnership with Sahar Group reinforces Ramco Systems' presence in the aviation sector and showcases the company's capability to deliver tailored software solutions that address specific industry challenges and operational requirements. This win further expands Ramco's presence within Miami's established aviation MRO industrial base.