Magellanic Cloud Limited 's wholly-owned subsidiary, Provigil Surveillance Limited, has clinched a significant contract from Southern Railway's Madurai Division. The company will install CCTV cameras at Non-Interlocked Level Crossing Gates, enhancing passenger security through AI-enabled surveillance infrastructure.

Contract Details

Strategic Significance

This latest contract adds to Provigil's growing portfolio of surveillance projects:

The combined projects showcase Provigil's expanding footprint in AI-driven video analytics and smart surveillance solutions across India's critical infrastructure.

Management Commentary

Joseph Sudheer Reddy Thumma, Global CEO & Managing Director of Magellanic Cloud Limited, expressed pride in the company's achievements: "These consecutive project wins, totaling around ₹126 crores, reflect our growing momentum and strong execution capabilities in delivering large-scale, AI-driven surveillance solutions. We take pride in setting new benchmarks in safety, cybersecurity, and innovation, as we continue to play a pivotal role in building smarter and safer infrastructure for India and beyond."

Project Scope

The contract involves deploying advanced video analytics features, including:

• Vehicle counting
• Vehicle classification
• AI-based surveillance systems

Corporate Governance

Magellanic Cloud Limited has confirmed that:

• No promoter/promoter group/group companies have any interest in the entity awarding the contract.
• The contract does not fall within the purview of related party transactions.

This new contract underscores Provigil Surveillance Limited's growing prominence in the AI-enabled surveillance sector, particularly in critical infrastructure projects. As India continues to modernize its railway and highway systems, companies like Provigil are playing a crucial role in enhancing safety and security through advanced technology solutions.

Magellanic Cloud Limited , a company listed on both BSE Limited and National Stock Exchange Limited, has reported a significant pledge of shares by its promoters. Joseph Sudheer Reddy Thumma and Jagan Mohan Reddy Thumma, the promoters of the company, have pledged shares representing 39.62% of the company's equity as collateral for loans.

Details of the Pledge

The pledge creation occurred between October 20-24, 2025, involving a total of 23,15,41,120 shares held by Joseph Sudheer Reddy Thumma. This large-scale pledge was accompanied by several smaller pledges created with various financial institutions and trading companies.

Breakdown of Pledges

Here's a detailed breakdown of the pledges created:

Purpose of Pledges

The pledges were created to secure loans from multiple lenders, including trading corporations, finance companies, and stock broking firms. This move by the promoters indicates a significant financial transaction, potentially for business expansion or other corporate purposes.

Impact on Shareholding

Prior to this event, Joseph Sudheer Reddy Thumma held 23,15,41,120 shares (39.62% of the share capital), of which 3,73,35,000 shares (6.39%) were already encumbered. Jagan Mohan Reddy Thumma held 4,70,00,000 shares (8.04%), with 1,31,90,000 shares (2.26%) previously encumbered.

Regulatory Compliance

This pledge creation has been reported in compliance with Regulation 31(1) & 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has duly informed the stock exchanges about this development, maintaining transparency with its investors and regulatory bodies.