A wholly owned subsidiary of Magellanic Cloud , Provigil Surveillance Limited, has secured a contract worth ₹6.93 crore from South Central Railway, Vijayawada Division. This latest Letter of Acceptance (LOA) comes within days of a previous ₹6.25 crore award from the same division, taking the cumulative value of railway surveillance orders secured by the company to ₹13.18 crore within a week. The order encompasses the supply, installation, testing, and commissioning of advanced IP-based CCTV surveillance systems across 15 stations, including major junctions such as Vijayawada, Tenali, Ongole, Nellore, Gudur, Rajahmundry, and Kakinada.

Contract Details

The key details of the contract are outlined below:

Scope and Execution

The scope of work entails the deployment of IP-based CCTV surveillance systems, Network Video Recorders (NVRs), optical fibre connectivity, and other associated Signalling & Telecommunication (S&T) infrastructure. The project will culminate in the successful handover of the surveillance system. The order is not a related party transaction, and none of the promoter or group companies have any interest in the entity awarding the contract.

Joseph Sudheer Thumma, Managing Director & Global CEO of Magellanic Cloud Limited, stated that winning another order from the South-Central Railway within days of the previous award is a strong endorsement of the company's execution capabilities. He highlighted that consecutive orders reflect the trust built through consistent delivery and quality, reinforcing the company's strategic focus on building AI-enabled surveillance and intelligent Video Management System (VMS) platforms for critical infrastructure. The company remains committed to delivering AI-enabled surveillance and integrated security solutions while creating sustainable value for customers and shareholders.

Magellanic Cloud Ltd corrected discrepancies in its financial results for the year ended March 31, 2026, and filed a declaration confirming an unmodified auditor opinion. The company addressed errors in its XBRL filings submitted on May 26, 2026, revising figures for earnings per share (EPS), profit before tax (PBT), profit after tax (PAT), paid-up equity share capital, reserves, and cash flow statements.

The corrections involved both standalone and consolidated financial results. Specifically, the company rectified the non-annualised EPS figure that was inadvertently mentioned in the earlier filing. Additionally, adjustments were made to the PBT, PAT, paid-up equity share capital, and reserves excluding revaluation reserve figures. The cash flow statement was also updated to reflect accurate data.

In response to a query from the exchanges regarding the non-submission of a declaration for unmodified opinions, the company clarified that the audit report did not contain any qualified or modified opinions. The statutory auditors, SGCO & CO LLP, issued the audit report for the financial year ended March 31, 2026. The company attributed the absence of the declaration to an inadvertent oversight and subsequently filed the necessary document as required under Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The following table outlines the specific financial components that were corrected in the revised XBRL filings:

Joseph Sudheer Reddy Thumma, Chairman and Managing Director, signed the correspondence and the annexed declaration submitted to the Bombay Stock Exchange Limited and the National Stock Exchange of India Ltd. on July 03, 2026.