Magellanic Cloud's Subsidiary Bags Key ₹45 Lakh Surveillance Deal! 📈

Hey finance enthusiasts!

Get ready for some interesting news from the tech world! Magellanic Cloud Limited (MCLOUD) has just announced a significant business update that shines a light on its growing footprint in the surveillance sector. 🚀

Their wholly-owned subsidiary, Provigil Surveillance Limited, has successfully secured a new Purchase Order! The client? None other than the Andhra Pradesh Social Welfare Residential Educational Institution Society. This order is valued at a neat Rs. 45 Lakhs (that’s Forty-Five Lakhs for those keeping count!).

So, what’s this order all about? It pertains to the crucial installation and operationalization of VMS Software and cutting-edge AI-based Analytics for CCTV e-surveillance systems. The best part? This advanced system will be rolled out across 14 different sites! This project perfectly aligns with Magellanic Cloud’s stated focus on digital transformation, IoT, and AI-driven solutions. It’s fantastic to see their subsidiaries actively contributing to India’s burgeoning digital infrastructure, especially in critical areas like public safety and surveillance for educational institutions.

For those wondering about the transparency, the company also clarified that none of their promoter or group companies have any interest in the entity that awarded this order. Plus, it doesn’t fall under the purview of a related-party transaction, ensuring everything is above board. transparent deal!

This order highlights Magellanic Cloud’s continued expansion and capability in providing advanced surveillance solutions, strengthening its position in a competitive market. Keep an eye on MCLOUD as they continue to build on such strategic wins! ✨

source: Corporate Announcement

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