Magellanic Cloud Limited announced a significant business development as its wholly owned subsidiary Provigil Surveillance Limited has been awarded a Letter of Acceptance (LoA) from Central Railway, Nagpur Division. The contract, valued at ₹3.61 crores, involves comprehensive CCTV surveillance system deployment and represents a notable addition to the company's railway infrastructure portfolio.

Contract Details and Scope

The awarded contract encompasses the complete supply, installation, testing, commissioning, and maintenance of CCTV surveillance systems at manned, non-interlocked Level Crossing gates within the Narkher–Chandur Bazar section of the Nagpur Division. The project specifications include RDSO-compliant Full HD IP CCTV cameras, network video recorders (NVRs), power and communication infrastructure, complete system integration, and associated civil and electrical works.

Technical Specifications

The surveillance system deployment involves advanced technology components designed to meet railway safety standards. The RDSO-compliant Full HD IP CCTV cameras will be integrated with network video recorders to ensure comprehensive monitoring capabilities at the designated level crossing gates. The project also includes establishing robust power and communication infrastructure to support the surveillance network operations.

Management Commentary

Global CEO & Managing Director Joseph Sudheer Reddy Thumma noted that this partnership represents a "strong endorsement" of the company's ability to manage complex, high-reliability safety systems in sensitive environments. The contract demonstrates the company's expertise in railway infrastructure and surveillance technology deployment.

Corporate Compliance

The company confirmed that none of the promoter, promoter group, or group companies have any interest in Central Railway, the entity that awarded the contract. Additionally, the order does not fall within the purview of related party transactions, ensuring compliance with regulatory requirements under SEBI guidelines.

Project Execution Framework

The 9-month execution timeline encompasses all phases from initial supply through final commissioning and maintenance setup. The comprehensive nature of the contract includes both technical deployment and civil works, positioning Provigil Surveillance Limited as a complete solution provider for railway surveillance infrastructure projects.

Magellan Cloud Limited has announced a key leadership appointment, naming Mr. Prathik Harishbhai Bhat as Interim Chief Financial Officer and Key Managerial Personnel. The appointment, approved by the Board of Directors on January 13, 2026, will take effect from February 13, 2026.

Board Approval and Regulatory Compliance

The appointment was made following the recommendation of the Nomination and Remuneration Committee during the board meeting held on January 13, 2026. The company has disclosed this information in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stock exchanges including BSE and NSE.

Professional Background and Expertise

Mr. Prathik Harishbhai Bhat brings extensive experience to his new role, with over two decades of expertise in structured credit, corporate finance, and business development. His professional background demonstrates a strong track record in delivering sustained profitability through strategic planning, disciplined execution, and market expansion initiatives.

Currently, Mr. Bhat serves as Associate Director – P&L Head (In-house Business) and Head – Distribution & Channel Alliances at MHP Fintech Services Pvt. Ltd. In this capacity, he has been responsible for profit center ownership, channel strategy development, and alliance management across various business verticals.

Key Competencies and Strategic Focus

Mr. Bhat's expertise encompasses several critical areas that align with Magellan Cloud Limited's operational requirements:

• Corporate Finance Excellence: Deep expertise in devising and implementing strategies to enhance operational efficiency and optimize return on investment
• Business Development Leadership: Proven ability in planning, developing, reviewing, and reporting business development and channel sales strategies
• Market Analysis: Strong analytical capabilities in market assessment and trend analysis to identify both short-term and long-term opportunities
• Strategic Planning: Experience in shaping business policies and steering organizational growth through cross-functional team leadership

Regulatory Disclosure Framework

The appointment has been disclosed in accordance with SEBI regulations, specifically under Regulation 30, Schedule III, Part A, Para A(7C) and other applicable provisions. The company has also adhered to SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring comprehensive regulatory compliance.

Managing Director Joseph Sudheer Reddy Thumma signed the official communication to both BSE and NSE, confirming the appointment details and regulatory adherence. The company has emphasized that Mr. Bhat maintains no familial or business relationships with existing directors, key managerial personnel, or promoters, ensuring independence in his role.