Magellanic Cloud Ltd

Magellanic Cloud Limited, formerly South India Projects Limited, announced the appointment of Pratik Harishbhai Bhatt as Senior Management Personnel, along with Jyoti Chauhan, Sunil Suri and Sameer Rajkumar Lalwani, at a board meeting held on September 1, 2026. The company also disclosed the notice convening its 45th Annual General Meeting scheduled for September 30, 2026, at 12:00 noon (IST).

Magellanic Cloud Limited, formerly South India Projects Limited, announced the appointment of Pratik Harishbhai Bhatt as Senior Management Personnel, along with Sameer Rajkumar Lalwani, Jyoti Chauhan, and Sunil Suri, at a board meeting held on September 1, 2026. The company also announced the convening of its 45th Annual General Meeting on September 30, 2026, at 12:00 noon IST, and disclosed brief profiles for the newly appointed personnel, including Bhatt's experience in finance, Lalwani's expertise in corporate law, Chauhan's background in human resources, and Suri's leadership in IT governance and compliance.

Magellanic Cloud Limited, formerly known as South India Projects Limited, informed the BSE and National Stock Exchange of India that it has received observations from the NSE regarding the details of Ultimate Beneficial Owners of Balaji Malts Private Limited, resulting in an amendment to the list disclosed in the company’s June 25, 2026, Notice and July 20, 2026, Corrigendum, with Prasun Jodhani, Nirmal Kumar Jodhani, Sangita Jodhani, and Anita Jodhani now identified as Ultimate Beneficial Owners of Balaji Malts Private Limited alongside Saket Jodhani and Jodhani Papers Private Limited.

Magellanic Cloud Ltd share price softened by 1.55% to Rs 28.58 after the company's net profit tanked by 21.70% to Rs 23.7 crore, while revenue from operations declined 12.29% to Rs 180.28 crore in Q2FY26 over Q1FY26. The market capitalization of Computers - Software & Consulting industry group stocks on BSE stood at Rs 23.94 lakh crore, easing 4.98%. It has slipped by 1.17% over last one week and heading higher by 9.49% in last one month while the market capitalization of Magellanic Cloud Ltd has eased by 3.71% and 15.10% in the same period respectively. Profit before tax (PBT) of Magellanic Cloud Ltd stood at Rs 31.17 crore in Q2 FY26, tumbling by 22.23% year-on-year, and dropping 12.12% quarter-on-quarter. EBITDA came in at Rs 49 crore, falling 13.29% YoY and gaining 4.26% sequentially. Total expenses fell by 14.52% to Rs 144.21 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 7.15 crore, plunging by 74.04% YoY, while employee benefits expense was at Rs 75.72 crore, registering a marginal contraction of 6.21% YoY. For the TTM ended FY26, revenue from operations posted a slight growth of 6.57% to Rs 597.24 crore, while net profit eased 0.21% to Rs 102.73 crore, compared to previous TTM. EBITDA surged by 16827% to Rs 201.3 crore, and PBT saw a minor gain of 1.54% to Rs 142.72 crore compared to previous TTM. The company's consolidated net cash flow from operating activities stood at Rs 143.04 crore in FY26, as against Rs 31.96 crore in FY25. Magellanic Cloud Ltd tumbled by 62.68% in last one year, underperforming the benchmark BSE Sensex which has slipped by 3.05% during the same period.

Magellanic Cloud Limited, formerly known as South India Projects Limited, clarified that proceeds from the preferential issue of 3,69,28,573 equity shares and 12,67,00,000 convertible warrants, approved by shareholders on July 24, 2026, will be utilized to invest Rs 150 crore in its newly incorporated subsidiary, MCRAY Xtend India Private Limited, for a drone manufacturing facility with technology from Xtend (Israel Company), Rs 100 crore for working capital, Rs 50 crore for repayment of borrowings, Rs 75 crore for research and development of drone technologies, Rs 100 crore for general corporate purposes, and Rs 15.89 crore for acquisition for inorganic growth opportunities.

Magellanic Cloud Limited, formerly known as South India Projects Limited, will hold a board meeting on Friday, August 14, 2026, to approve the unaudited standalone and consolidated financial results along with a limited review report for the quarter ended June 30, 2026, the company said in a filing. The trading window for dealing in the company's securities has been closed since Wednesday, July 1, 2026, and will remain closed until 48 hours after the financial results are declared.

Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has received a Letter of Acceptance (LOA) from Western Railway, Ratlam Division, for a project valued at Rs 12.13 crore. The project involves the supply, installation, testing, and commissioning of advanced telecom infrastructure and CCTV surveillance systems across Ratlam Division stations as part of the Simhastha 2028 infrastructure modernization programme.

Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a purchase order from GAIL (India) Limited, valued at Rs 127.62 million, through the Government e-Marketplace (GeM) platform for deployment of an integrated E-surveillance system across GAIL's NCR network. The contract establishes a new growth vertical for Magellanic Cloud in the Oil & Gas sector and reflects confidence in Provigil’s AI-enabled surveillance solutions, according to Global CEO and Managing Director Joseph Sudheer Thumma.

Magellanic Cloud announced that its wholly owned subsidiary, Provigil Surveillance has received a Letter of Acceptance (LOA) from South Central Railway, Vijayawada Division for a contract aggregating to Rs 6.92 crore. The project involves the supply, installation, testing and commissioning (SITC) of advanced IP based CCTV surveillance systems across multiple South Coast Railway stations, including some of the major junctions such as Vijayawada, Rajahmundry, Nellore, Kakinada and Gudur along with associated Signalling & Telecommunication (S&T) infrastructure.

The project involves the supply, installation, testing and commissioning (SITC) of advanced IP-based CCTV surveillance systems across multiple South Coast Railway stations, including major junctions such as Vijayawada, Rajahmundry, Nellore, Kakinada and Gudur, along with the associated Signalling & Telecommunication (S&T) infrastructure. The project is scheduled to be executed within 12 months. Magellanic Cloud specializes in offering services pertaining to software development, digital transformation, generative artificial intelligence (GenAI), the Internet of Things (IoT), e-surveillance, and advanced drone-based applications. The company's consolidated net profit jumped 32.1% to Rs 29.49 crore on a 31.5% increase in revenue to Rs 205.55 crore in Q4 FY26 over Q4 FY25. The scrip shed 0.14% to Rs 29.37 on the BSE.Powered by Capital Market - Live