Magellanic Cloud Limited has informed the Exchange about Bagging/Receiving of orders/contracts by its Wholly Owned Subsidiary - Provigil Surveillance Limited.
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Magellanic Cloud Limited announced that its wholly owned subsidiary, Provigil Surveillance Limited, has received a Letter of Acceptance from Western Railway, Rajkot Division (RJT Division) for setting up a CCTV surveillance system across various sites in the division. The contract is valued at ₹2.45 Crores and is to be executed within six months. The order has been awarded by a domestic government entity (Indian Railways) and is not a related party transaction. The company highlighted that this win reinforces Provigil's track record in delivering large-scale surveillance projects for public sector clients.
This is a modest-sized new order (₹2.45 Cr) that adds to Provigil's order book in its core surveillance business and demonstrates continued traction with Indian Railways. While the value is small on an absolute basis, the repeat business from a government client is a positive signal for revenue visibility, with limited immediate impact on the stock price.