PNN
Hyderabad (Telangana) [India], September 7: Magellanic Cloud (BSE: MCLOUD), an emerging global leader in technology space, has announced its financial results for the quarter ending June 30, 2024. With a robust portfolio of subsidiaries in IT, ITES, surveillance, and drone technology, the company remains focused on owning, acquiring & innovating technology.
Commenting on the financial Joseph Sudheer Reddy, Global CEO, Magellanic Cloud said: "Our Q1 FY25 results demonstrate the strength of our multi-technology portfolio and our unwavering focus on driving transformational growth. With our 37.3% YoY EBITDA growth and a 40.3% increase in YoY profit reflect the power of our strategic focus on operational excellence and innovation. Achieving an EBITDA margin of 40.05% showcases our ability to navigate challenges and optimize for profitability.
As we look ahead, we're poised to deepen, accelerate & acquire advancements in Generative AI, surveillance, and drone technologies, where we are already at the forefront of innovation. These technologies will continue to drive our growth trajectory as we further solidify our market leadership. Our vision is to scale strategically, harnessing innovation & acquisition to deliver sustainable, longterm growth and unlocking greater value for all stakeholders."
Key financial highlights
* Revenue from operations stood at Rs. 132.17 crore in Q1 FY25, as against Rs. 137.78 crore in Q1 FY24.
* EBITDA for the quarter is Rs. 52.93 crore as against Rs. 38.56 crore in Q1 FY24 a year-on-year growth of 37.3%
* EBITDA Margin for Q1 FY25 stood at 40.05%
* Q1 FY25 profit stands at Rs. 26.51 crore against a PAT of Rs. 18.89 crore in Q1 FY24, year on year growth of 40.3%
* During the quarter Scandron, a subsidiary, receives DGCA approvals for its small category Agri Drone
Magellanic Cloud
Magellanic Cloud has strengthened its leadership team as part of its organizational process transformation strategy by bringing in seasoned industry veterans to steer the company through emerging opportunities and challenges.
Drones (Subsidiary - Scandron Private Limited)
* Scandron, a subsidiary of Magellanic Cloud, achieved a major milestone by receiving its second DGCA approval, this time for its small category Agri Drone. Notably, Scandron is also the first company in India to secure DGCA certification for its logistics drone. These certifications position Scandron to participate in key government-led initiatives such as Drone Didi, where type certification is a prerequisite further strengthening our contribution to the growth of the drone ecosystem in India.
* Scandron, a subsidiary of Magellanic Cloud successfully conducted trials with defense forces at medium and high altitudes, demonstrating Scandron's advanced logistics capabilities in challenging environments. These trials solidified the company's role as a reliable partner for defense operations, highlighting its potential to revolutionize military logistics and tactical support.
IT & ITES Business (Motivity Labs & JNIT Technologies)
* We delivered a cutting-edge Generative AI (GenAI) application to a key client in the travel domain. This achievement underscores our commitment to delivering AI-driven transformation across industries, reinforcing Motivity Labs' leadership in pioneering intelligent technology solutions.
* Motivity Labs has expanded its services by partnering with vendors that are Oracle Gold partners to address industry gaps and accelerate growth. Leveraging this strategic alliance, we acquired multiple local partners, filling the gaps and further strengthening our revenue streams and customer base. This partnership enhances the company's IT capabilities, driving scalability, improving sales turnover, and ensuring comprehensive customer resource fulfillment.
* We set a recent establishment in Canada, coupled with a partnership with one of the world's top five global companies, allows us to offer both local and international resources in the Canadian market. This strategic expansion broadens our global footprint and significantly enhances our capability to serve a varied clientele
E-Surveillance (Subsidiary - IVIS International Pvt. Ltd and Provigil Surveillance Ltd.)
* The company exhibited in three major expos in Delhi and Mumbai, where we engaged with top exhibitors, industry experts, and key government officials from across the Indian and international markets. The expos featured advanced technologies in CCTV, e-surveillance, integrated systems, networked security, monitoring centers, and computer security. This exposure also facilitated our acquisition of clients from diverse industries beyond BFSI, including healthcare, retail, manufacturing, government & commercial sectors.
* We onboarded three prominent players in the Gold Financing industry, spanning over 270 locations, is complemented by the deployment of comprehensive automation for vault door operations, featuring sophisticated intelligent security technology.
About Magellanic Cloud:
Magellanic Cloud Limited (BSE: MCLOUD) is a pioneering technology enterprise, offering software development, digital transformation, AI/IoT, and drone-based solutions for realworld applications. Committed to harnessing cutting-edge technology, Magellanic Cloud offers transformative solutions to a global clientele and has made strategic investments in IT services, E-surveillance, and advanced drone technologies.
With a robust workforce of over 1,200 professionals and a portfolio featuring more than 100 clients, including several Fortune 1,000 companies, Magellanic Cloud is recognized for its significant market presence and capability to deliver technology-driven solutions in a competitive global landscape.
For more details, please visit: www.magellanic-cloud.com
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