Magellanic Cloud unit wins Rs 29.13 crore Haridwar Kumbh Mela railway surveillance order

Magellanic Cloud Ltd said its wholly owned subsidiary, Provigil Surveillance Ltd, has received a Letter of Acceptance worth Rs 29.13 crore from Northern Railway’s Moradabad Division for CCTV and integrated e-surveillance infrastructure linked to Kumbh Mela 2027 in Haridwar.

The project will cover designated railway stations on the LRJ-HW and HW-RKSH sections, where Provigil will deploy IP-based CCTV cameras, a video management system, recording servers, storage infrastructure, video analytics and face-recognition systems. The scope also includes command and control centre infrastructure, network management systems, firewalls, workstations, displays and networking equipment for centralised surveillance management.

The company said the installation project is to be completed within three months from the date of the Letter of Acceptance. It will be followed by a five-year annual maintenance contract after the warranty period, providing the group with a potential longer-duration service engagement beyond the initial implementation work.

The order is notable in the context of Magellanic Cloud’s surveillance business, which has been positioned around railway, government and critical-infrastructure deployments. Based on its FY26 consolidated revenue from operations of Rs 697.88 crore, the new order is equivalent to about 4.2 per cent of annual revenue. It is also meaningful for the IT surveillance segment, which reported FY26 revenue of Rs 161.85 crore.

Provigil is the group entity identified in its annual report as the vehicle for railway and public-infrastructure surveillance mandates. Magellanic Cloud has been seeking to deepen its presence in national infrastructure through long-term railway and highway surveillance assignments, while scaling integrated command-and-control deployments using its Scanalitix platform.

Management said the Haridwar mandate reflects Provigil’s ability to deliver integrated surveillance solutions for large public-infrastructure requirements. The company added that the assignment aligns with its strategy to expand technology-led security and e-surveillance offerings across railways and other critical infrastructure sectors.

Magellanic Cloud’s consolidated revenue rose 16.9 per cent year on year to Rs 697.88 crore in FY26, while profit after Tax increased to Rs 114.29 crore from Rs 102.73 crore in FY25. However, the company’s EBITDA margin narrowed to 30.7 per cent from 34.4 per cent, while trade receivables rose to Rs 352.40 crore as of March 31, 2026. Execution, project acceptance and collections will therefore remain relevant considerations as the company takes on further government and infrastructure contracts.

As of 9:36 am on October 16, 2026, Magellanic Cloud shares were trading at Rs 24.27, up 2.66 per cent from the previous close of Rs 23.64. The stock remained about 66.3 per cent below its 52-week high of Rs 72.00, although it was around 23.4 per cent above its 52-week low of Rs 19.66.

Over the preceding year, the shares had declined 69.09 per cent, compared with a 5.17 per cent fall in the BSE 500, underperforming the benchmark by about 63.92 percentage points. The Haridwar contract adds to the company’s stated infrastructure pipeline, but the three-month implementation timeline will make delivery discipline important.

Disclaimer: The article is for informational purposes only and not investment advice.