PETALING JAYA: Apex Securities Research remains bullish on Ramssol Group Bhd
’s second-half (2H26) earnings trajectory after its broad-based growth across all business verticals delivered double-digit profit growth in the first six months ended June 30, 2026 (6M26).
Ramssol’s second-quarter (2Q26) earnings met market expectations, as it posted a core net profit of RM7.4mil for the quarter ended June 2026.
Core net profit rose 30.1% year-on-year (y-o-y) and 14.5% quarter-on-quarter (q-o-q). This lifted cumulative core net profit in 6M26 to RM13.9mil, up 20.6% y-o-y, keeping the group on track to meet full-year estimates.
“Growth was driven by strong expansion in AiTech deployments in Indonesia, PeopleTech Consultancy-as-a-Service subscriptions and AutoTech motorcycle transactions, alongside a lower effective tax rate,” Apex Research said.
Looking ahead into 2H26, the research house said Ramssol’s earnings trajectory remained intact, underpinned by its four main growth pillars.
These are AiTech, driven by accelerating enterprise artificial intelligence and cloud adoption that supports an improved margin mix; PeopleTech, expected to deliver the most immediate contribution to scale, strengthened by the completed Innio Group acquisition; AutoTech, continuing to scale its motorcycle trading platform and Road Transport Department collection agency operations; and FinTech, via the PayDayNow EWA integration.
In 2Q26, Ramssol’s revenue rose 9.4% y-o-y to RM27.3mil.
Revenue expanded 22.9% to RM27.3mil q-o-q, driven by accelerated client on boarding in enterprise AiTech, expansion of regional software licences and operational scale in AutoTech.
Meanwhile, the group’s revenue rose 14.9% y-o-y to RM49.5mil in 6M26.
Apex Research said it maintained its core net profit forecasts for financial year 2026 (FY26), FY27 and FY28 at RM30.8mil, RM40mil and RM45.2mil, respectively.
“We reiterate our ‘buy’ call with an unchanged target price of RM1.30,” it said in a note.
