Technology company Magellanic Cloud plans to boost its revenue by 25-30% in FY25, driven by expansion in their core segments such as IT, ITES, e-surveillance, and drone technology, Joseph Sudheer Reddy, global CEO, Magellanic Cloud told FE.
“We are committed to achieving a 25-30% increase in revenue for FY25. Our focus on expanding our core segments and leveraging new technologies will be pivotal in reaching this goal,” Reddy said.
Further, the company’s CFO Sanjay Mahendra Chauhan said that this revenue expectation is barring some of the drone projects it is expecting. “If drones comes into picture, it may go up to 50% also. Because the bigger orders that we are expecting from defence, there are three of them are already in line,” he added.
In the quarter ended June, the company reported a revenue of Rs 132 crore, a decrease from Rs 137 crore a year ago.
Despite this minor decline in revenue, the company’s Ebitda saw a notable increase, reaching Rs 52.9 crore compared to Rs 38.5 crore in the previous year. The management attributed this improvement to efficiencies gained from their proprietary video management software and cost reductions in recurring expenses.
The company’s profitability was robust, with a profit after tax reaching Rs 26.5 crore in Q1 FY25, up from Rs 18.9 crore in Q1 FY24.
BSE listed Magellanic Cloud operates across three main segments: IT and ITES, e-surveillance, and drones. The company employs around 1,500 individuals, with approximately 800 dedicated to IT and ITES. Their IT and ITES segment includes two subsidiaries, Motivity Labs and JNID Technologies, which contribute significantly to their revenue.