Pursuant to Reg 34 of the SEBI (LODR), enclosed herewith is the Annual Report of Magellanic Cloud Limited for the financial year ended March 31, 2024.
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Magellanic Cloud Limited has submitted its Annual Report for FY ending March 31, 2024, along with the notice for its 43rd AGM scheduled for July 15, 2024 via video conferencing. The Board has recommended a dividend of ₹0.15 per share (1.5% on face value) with the record date set for July 27, 2024. Consolidated revenue grew ~31% to ₹56,042 lakhs (from ₹42,746 lakhs), EBITDA rose ~58% to ₹20,118 lakhs, and PAT increased ~39% to ₹10,295 lakhs. The AGM agenda also includes proposals for a stock split (1 share of ₹10 into 5 shares of ₹2), increase in authorised share capital, merger of wholly-owned subsidiary IVIS International into the company, and re-appointment of the Managing Director for 5 years. Key business wins include a ~₹42 crore 5-year e-surveillance contract from a public sector bank and a ~₹43 crore logistics drone order through subsidiary Scandron.
Strong topline and bottomline growth, combined with significant new contract wins, signal healthy business momentum. The proposed stock split could improve retail liquidity, while the IVIS merger simplifies the group structure. The dividend remains modest at ₹0.15 per share, consistent with FY23.