MCLOUD's Subsidiary Secures ₹25 Crore Order from Punjab & Sind Bank
Magellanic Cloud's subsidiary, Provigil Surveillance Limited, secured a ₹25 Crore purchase order from Punjab & Sind Bank. The order involves deploying AI-enabled surveillance solutions across 930 ATM/CRM sites for five years. This strengthens MCLOUD's position in the surveillance and security solutions market.
The order value of ₹25 Crore is significant and contributes to the company's order book, indicating a positive impact on its growth trajectory.
The company secured a significant new order, which is a positive development for its business.
Magellanic Cloud Limited (MCLOUD) announced on March 24, 2026, that its wholly-owned subsidiary, Provigil Surveillance Limited, has received a significant purchase order valued at approximately ₹25 Crore from Punjab & Sind Bank.
The order entails the deployment of advanced AI-enabled surveillance solutions across roughly 930 ATM/CRM sites. This initiative aims to enhance real-time monitoring, threat detection, and operational efficiency for the bank's network.
This contract, which is for a period of five years, is expected to bolster the company's growth trajectory and improve its order book visibility. It marks a key milestone for the group, strengthening its presence in the growing surveillance and security solutions sector, particularly within the banking and financial services industry. Magellanic Cloud Limited confirmed that neither its promoters nor any group companies have an interest in Punjab & Sind Bank, and the transaction does not constitute a related party transaction.
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Magellanic Cloud Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Magellanic Cloud Limited. Read the original for the full detail.