Magellanic Cloud to Invest ₹300 Crore in Acquisitions, Hire 3,400 Employees in Next Two Years.

Magellanic Cloud Limited, a technology solutions, e-surveillance services, and drone company listed on the NSE and BSE, has announced plans to invest over ₹300 crore in acquiring a US-based technology company and 4-5 smaller companies in the fiscal year 2025-26.

The company is in the final stages of acquiring the US-based firm for approximately ₹200 crore, with the deal expected to close by May 2025. The additional acquisitions will aim to expand its service offerings, client base, and geographical presence, according to Joseph Sudheer Thumma, Managing Director and Global CEO of Magellanic Cloud Ltd.

To fund the acquisitions, ₹100 crore will be raised from internal accruals, with the remaining amount to be raised through a preferential issue or QIP soon. Thumma added that the company is targeting 15-20% growth in the next financial year, with an even larger growth rate anticipated for 2025-26, driven by the contributions of the companies it acquires.

For the third quarter ended December 31, 2024, the company reported a net profit of ₹29 crore, up from ₹22.56 crore in the same period the previous year. The full-year revenue for 2024 stood at ₹560 crore.

Magellanic Cloud also plans to hire over 3,400 employees over the next two years, bringing the total workforce to around 5,000 from the current 1,600 employees.

Thumma further shared that the company secured $10 million worth of AI/Generative AI orders and that its drone subsidiary, Scandron, has developed over 17 products for sectors such as logistics, surveillance, and agriculture. The company has recently launched a cargo drone capable of carrying a 200 kg payload.

HBL