Hyderabad (Telangana) [India], May 10: Magellanic Cloud (BSE: MCLOUD), a leading ITES and surveillance firm and an emerging drone company, today announced its financial results for the quarter and year ending March 31, 2024. of. Main attractions are:
• Q4FY24 consolidated PAT at Rs 39.43 crore, up 118 per cent
• Q4FY24 Consolidated Revenue at Rs 137.21 crore, up 19.63 per cent • Q4FY24 EBITDA at Rs. 68.77
• FY24 consolidated PAT at Rs 102.95 crore, up 38.93 per cent
• Consolidated revenue at Rs 577.86 crore in FY24, up 29.4 per cent • FY24 EBITDA at Rs. 57.97 percent more, Rs 201.19 crore
• First company to receive DGCA certification for its logistics drone
• Received first major drone order worth Rs 43 crore to provide Cargomax series drones Consolidated Results:
Quarter ending March 31, 2024:
• Q4 FY24 Total Income Rs. Rs 152.12 crore as against Rs. • Rs 116.97 crore over previous corresponding period – an increase of 30.05 per cent • Q4 FY24 Net Profit at Rs. Rs 39.43 crore as against Rs.Rs 18.02 crore – increase of 118.84 percent
• Q4 FY24 earnings per share at Rs. 3.37 (each at Rs 10/- face value)
Financial year ending March 31, 2024:• FY24 Total Income Rs. As compared to Rs 577.86 crore. Rs 446.57 crore over previous corresponding period – an increase of 29.40 percent
• FY24 Net Profit Rs. As compared to Rs 102.95 crore. 74.10 crore - increase of 38.93 percent
• FY24 earnings per share at Rs. 8.81 (at Rs 10/- each) Commenting on the financials, Mr. Joseph Sudheer Reddy, Global CEO, Magellanic Cloud, said: “Magellanic Cloud is on a growth path, driven by innovation and looking forward to our strong growth in FY24. Driven by performance. We are actively deploying cutting-edge technology to optimize operations and enhance profitability. Our strategic partnerships reinforce our leadership in AI security solutions. With strong order book in IT, ITES and e-surveillance, primarily driven by GenAI projects, we are confident of achieving our FY20 revenue target. We plan to accelerate growth through strategic acquisitions and we are evaluating 2-3 potential companies annually.“Our equity offering will highlight this expansion, maximizing value for our stakeholders.”
With a strong order book in IT, ITES and e-surveillance, primarily driven by GenAI projects, we are confident of achieving our FY21 revenue target. We also have plans to accelerate growth through strategic acquisitions and are evaluating 2-3 potential companies annually. “Our equity offering will highlight this expansion, maximizing value for our stakeholders.”
Net Worth: The company's net worth as on March 31, 2024 is Rs. 406.93 crores.
Operational Review: FY24 – Standalone:
As of March 31, 2024, the company's net worth is Rs. Rs 446.11 crore - 6.73 percent growthBusiness Highlights
Drone Business (Subsidiary Company – Scandron Private Limited)
Scandron Pvt Ltd, a subsidiary of Magellanic, is the first Indian company to receive DGCA type-certification under the Logistics and Cargo category for its Cargoma 500HE drone.The company has also seen significant growth in the drone segment especially with the implementation of government initiatives like National Logistics Policy (NLP) Kisan Drone Shakti and Drone Didi. Scandron has recently received its first major drone order worth Rs 43 crore which will be completed in a few weeks.
ITES Business (Assistant – JNIT Technologies and Motivity Labs)
GenIT Technologies and Motivity Labs, Magellanic Cloud's subsidiaries, maintained profitability through strategic cost optimization and saw significant revenue generation from new GenAI projects. Surveillance Business (Subsidiaries – IVIS International Pvt. Ltd. and Provigi Surveillance Ltd.)
Magellanic Cloud subsidiary iVIS/Provigil has added 5,000 new sites with customers in banking, warehousing, city surveillance, religious retail and other public sites. The company has started generating revenue in FY24 by adding new products like VMS, SaaS platform and EDGE hardware with A model on security incidents.Shareholding pattern as on March 31, 2024:• Promoters and promoter group hold 6,85,42,720 shares and 58.64% shareholding.
• Public holds 4,83,36,304 shares and 41.36% shareholding.
• Total shareholders are 15847 with 11,68,79,024 shares and 100.0% shareholding. Highlights of Consolidated Financial Statements:
• Revenue from operations during FY24 is ₹ 5,604.29 Mn, FY23 is ₹ 4,274.69 Mn, YoY % is 31.10%, and Q4 FY24 is ₹ 1372.0 Mn.
• Other income recorded during FY24 is ₹ 174.32 Mn, FY23 is ₹ 191.00 Mn, YoY % is 8.73%, and Q4 FY24 is ₹ 149.16 Mn.• Total revenue earned during FY24 is ₹ 5,778.61 Mn, Q4 FY23 is ₹ 4,465.69 Mn, YoY growth is ₹ 29.40%, and Q4 FY24 is ₹ 1,521.21 Mn.
• Total expenses excluding depreciation, amortization and finance costs during FY24 is ₹ 4,373.08 million, FY23 is ₹ 3,527.89 million, Y-o-Y% is 23.96%, and Q4 FY24 is ₹ 1,004.13 million.
• EBITDA recorded during FY24 is ₹ 2,011.90 Mn, Q4 FY24 is ₹ 1,273.62 Mn, YoY % is 57.97%, and Q4 FY24 is ₹ 687.78 Mn.• EBITDA recorded during FY24 is ₹ 687.78 Mn. Margin (%) is 34.82%, FY23 is 28.52%, YoY is 22.08%, and Q4 FY24 is 45.21%.
• Depreciation and amortization recorded during FY24 is ₹ 395.11 Mn, FY23 is ₹ 214.73 Mn, YoY % is 84.00%, and Q4 FY24 is ₹ 108.79 Mn.• Finance cost recorded during FY24 is ₹ 211.26 Mn, FY23 is ₹ 121.08 Mn, YoY% is 74.48%, and Q4 FY24 is ₹ 61.92 Mn.• Exceptional PBT before items is ₹ 1,405.5 Mn, FY23 is ₹ 937.81 Mn, Y-o-Y% is 49.87% and Q4 FY24 is ₹ 517.0 Mn.
• PBT recorded during FY24 is ₹ 1,405.53 Mn, Q4 FY23 is ₹ 937.81 Mn, YoY % is 49.87% and Q4 FY24 is ₹ 517.08 Mn.
• Income Tax recorded during FY24 is ₹ 348.18 Mn, ₹ 191.28 Mn in FY2, YoY% is 82.03% and Q4 FY24 is ₹ 103.94 Mn. YoY tax is ₹ 5.41 Mn, ₹ 0.07 Mn in FY23, YoY% is ₹ 7746.53% and Q4 FY24 is ₹ 16.76 Mn.• Deferred tax recorded during FY24 is ₹ 22.39 million, during FY23 is ₹ 5.43 million, YoY% is 312.69% and Q4FY24 is ₹ 2.06 million.
• Tax expense recorded during FY24 is ₹ 375.99 Mn, FY23 is ₹ 196.78 Mn, YoY % is 91.07% and Q4 FY24 is ₹ 122.76 Mn. • PAT recorded during FY24 is ₹ 1,029.54 Mn. is ₹ 741.03 Mn in FY23, Y-o-Y% is 38.93% and is ₹ 394.32 Mn in Q4 FY24.
About Magellanic Cloud:
Magellanic Cloud Limited (BSE: MCLOUD) is a leading technology enterprise offering software development, digital transformation, AI/IoT and drone-based solutions for real-world applications. Committed to harnessing cutting-edge technology, Magellanic Cloud is a global Provides transformative solutions to customers and has made strategic investments in IT services, e-surveillance and advanced drone technologies.With a strong workforce of over 1,200 professionals and a portfolio of over 1,000 customers including several Fortune 100 companies, Magellani Cloud is recognized for its significant market presence and ability to provide technology-driven solutions in a competitive global landscape.
• Q4FY24 consolidated PAT at Rs 39.43 crore, up 118 per cent
• Q4FY24 Consolidated Revenue at Rs 137.21 crore, up 19.63 per cent • Q4FY24 EBITDA at Rs. 68.77
• FY24 consolidated PAT at Rs 102.95 crore, up 38.93 per cent
• Consolidated revenue at Rs 577.86 crore in FY24, up 29.4 per cent • FY24 EBITDA at Rs. 57.97 percent more, Rs 201.19 crore
• First company to receive DGCA certification for its logistics drone
• Received first major drone order worth Rs 43 crore to provide Cargomax series drones Consolidated Results:
Quarter ending March 31, 2024:
• Q4 FY24 Total Income Rs. Rs 152.12 crore as against Rs. • Rs 116.97 crore over previous corresponding period – an increase of 30.05 per cent • Q4 FY24 Net Profit at Rs. Rs 39.43 crore as against Rs.Rs 18.02 crore – increase of 118.84 percent
• Q4 FY24 earnings per share at Rs. 3.37 (each at Rs 10/- face value)
Financial year ending March 31, 2024:• FY24 Total Income Rs. As compared to Rs 577.86 crore. Rs 446.57 crore over previous corresponding period – an increase of 29.40 percent
• FY24 Net Profit Rs. As compared to Rs 102.95 crore. 74.10 crore - increase of 38.93 percent
• FY24 earnings per share at Rs. 8.81 (at Rs 10/- each) Commenting on the financials, Mr. Joseph Sudheer Reddy, Global CEO, Magellanic Cloud, said: “Magellanic Cloud is on a growth path, driven by innovation and looking forward to our strong growth in FY24. Driven by performance. We are actively deploying cutting-edge technology to optimize operations and enhance profitability. Our strategic partnerships reinforce our leadership in AI security solutions. With strong order book in IT, ITES and e-surveillance, primarily driven by GenAI projects, we are confident of achieving our FY20 revenue target. We plan to accelerate growth through strategic acquisitions and we are evaluating 2-3 potential companies annually.“Our equity offering will highlight this expansion, maximizing value for our stakeholders.”
With a strong order book in IT, ITES and e-surveillance, primarily driven by GenAI projects, we are confident of achieving our FY21 revenue target. We also have plans to accelerate growth through strategic acquisitions and are evaluating 2-3 potential companies annually. “Our equity offering will highlight this expansion, maximizing value for our stakeholders.”
Net Worth: The company's net worth as on March 31, 2024 is Rs. 406.93 crores.
Operational Review: FY24 – Standalone:
As of March 31, 2024, the company's net worth is Rs. Rs 446.11 crore - 6.73 percent growthBusiness Highlights
Drone Business (Subsidiary Company – Scandron Private Limited)
Scandron Pvt Ltd, a subsidiary of Magellanic, is the first Indian company to receive DGCA type-certification under the Logistics and Cargo category for its Cargoma 500HE drone.The company has also seen significant growth in the drone segment especially with the implementation of government initiatives like National Logistics Policy (NLP) Kisan Drone Shakti and Drone Didi. Scandron has recently received its first major drone order worth Rs 43 crore which will be completed in a few weeks.
ITES Business (Assistant – JNIT Technologies and Motivity Labs)
GenIT Technologies and Motivity Labs, Magellanic Cloud's subsidiaries, maintained profitability through strategic cost optimization and saw significant revenue generation from new GenAI projects. Surveillance Business (Subsidiaries – IVIS International Pvt. Ltd. and Provigi Surveillance Ltd.)
Magellanic Cloud subsidiary iVIS/Provigil has added 5,000 new sites with customers in banking, warehousing, city surveillance, religious retail and other public sites. The company has started generating revenue in FY24 by adding new products like VMS, SaaS platform and EDGE hardware with A model on security incidents.Shareholding pattern as on March 31, 2024:• Promoters and promoter group hold 6,85,42,720 shares and 58.64% shareholding.
• Public holds 4,83,36,304 shares and 41.36% shareholding.
• Total shareholders are 15847 with 11,68,79,024 shares and 100.0% shareholding. Highlights of Consolidated Financial Statements:
• Revenue from operations during FY24 is ₹ 5,604.29 Mn, FY23 is ₹ 4,274.69 Mn, YoY % is 31.10%, and Q4 FY24 is ₹ 1372.0 Mn.
• Other income recorded during FY24 is ₹ 174.32 Mn, FY23 is ₹ 191.00 Mn, YoY % is 8.73%, and Q4 FY24 is ₹ 149.16 Mn.• Total revenue earned during FY24 is ₹ 5,778.61 Mn, Q4 FY23 is ₹ 4,465.69 Mn, YoY growth is ₹ 29.40%, and Q4 FY24 is ₹ 1,521.21 Mn.
• Total expenses excluding depreciation, amortization and finance costs during FY24 is ₹ 4,373.08 million, FY23 is ₹ 3,527.89 million, Y-o-Y% is 23.96%, and Q4 FY24 is ₹ 1,004.13 million.
• EBITDA recorded during FY24 is ₹ 2,011.90 Mn, Q4 FY24 is ₹ 1,273.62 Mn, YoY % is 57.97%, and Q4 FY24 is ₹ 687.78 Mn.• EBITDA recorded during FY24 is ₹ 687.78 Mn. Margin (%) is 34.82%, FY23 is 28.52%, YoY is 22.08%, and Q4 FY24 is 45.21%.
• Depreciation and amortization recorded during FY24 is ₹ 395.11 Mn, FY23 is ₹ 214.73 Mn, YoY % is 84.00%, and Q4 FY24 is ₹ 108.79 Mn.• Finance cost recorded during FY24 is ₹ 211.26 Mn, FY23 is ₹ 121.08 Mn, YoY% is 74.48%, and Q4 FY24 is ₹ 61.92 Mn.• Exceptional PBT before items is ₹ 1,405.5 Mn, FY23 is ₹ 937.81 Mn, Y-o-Y% is 49.87% and Q4 FY24 is ₹ 517.0 Mn.
• PBT recorded during FY24 is ₹ 1,405.53 Mn, Q4 FY23 is ₹ 937.81 Mn, YoY % is 49.87% and Q4 FY24 is ₹ 517.08 Mn.
• Income Tax recorded during FY24 is ₹ 348.18 Mn, ₹ 191.28 Mn in FY2, YoY% is 82.03% and Q4 FY24 is ₹ 103.94 Mn. YoY tax is ₹ 5.41 Mn, ₹ 0.07 Mn in FY23, YoY% is ₹ 7746.53% and Q4 FY24 is ₹ 16.76 Mn.• Deferred tax recorded during FY24 is ₹ 22.39 million, during FY23 is ₹ 5.43 million, YoY% is 312.69% and Q4FY24 is ₹ 2.06 million.
• Tax expense recorded during FY24 is ₹ 375.99 Mn, FY23 is ₹ 196.78 Mn, YoY % is 91.07% and Q4 FY24 is ₹ 122.76 Mn. • PAT recorded during FY24 is ₹ 1,029.54 Mn. is ₹ 741.03 Mn in FY23, Y-o-Y% is 38.93% and is ₹ 394.32 Mn in Q4 FY24.
About Magellanic Cloud:
Magellanic Cloud Limited (BSE: MCLOUD) is a leading technology enterprise offering software development, digital transformation, AI/IoT and drone-based solutions for real-world applications. Committed to harnessing cutting-edge technology, Magellanic Cloud is a global Provides transformative solutions to customers and has made strategic investments in IT services, e-surveillance and advanced drone technologies.With a strong workforce of over 1,200 professionals and a portfolio of over 1,000 customers including several Fortune 100 companies, Magellani Cloud is recognized for its significant market presence and ability to provide technology-driven solutions in a competitive global landscape.
