Magellanic Cloud Limited ("MCLOUD"), is engaged in majorly three business segments i.e., IT solutions & human capital, E-surveillance, and Drones Manufacturing & allied services. Scandron Private Limited, a subsidiary of MCLOUD has partnered with CriticaLog India to provide drones employed for catering to B2B and hub-to-hub market in India.
Scandron Private Limited, a subsidiary of MCLOUD has partnered with CriticaLog India to cater to the B2B and hub-to-hub logistics market of the nation through advanced drone solutions. The partnership involves a division of responsibility, whereby CriticaLog will be responsible for all customer-facing activities, while Scandron will oversee drone-related operations.
The collaboration with CriticaLog India will allow Scandron Private Limited to mark its introduction in the market by introducing two drones namely Cargomax 500 and Cargomax 2000 having a payload capacity of 5Kg & 20Kg, and flight range of over 30Km and 20Km respectively, flying at speed of 12 meters/second having an endurance of about an hour.
The partnership is anticipated to generate business valued at Rs 5,000-6,000 Mn. within the next two years, and will encompass drone deliveries from hub-to-hub across 160 cities throughout India.
Commenting on the partnership, the Management Team of MCLOUD stated: "We are pleased to announce our partnership with CriticaLog India, which marks an important milestone for Scandron Private Limited. This collaboration brings together the expertise of two industry leaders, allowing us to combine our strengths and bring innovative drone-based logistics solutions to the B2B and hub-to-hub segments of the Indian market.
The combination of our CargoMax logistics drones with CriticaLog's logistics expertise will be a transformative collaboration, enabling us to offer our customers new opportunities and innovative solutions to meet their delivery needs in a timely and cost-efficient manner. This partnership is poised to be a game-changer in the industry, and we are excited to leverage our respective strengths to enhance our offerings and provide exceptional value to our clients.
At the moment, we're working on obtaining DGCA certification for our logistic drones. Simultaneously, we've engaged in route probing activities which involve a detailed analysis of potential courses at a slower pace. This allows us to create route maps, identify any potential obstacles, and avoid highly congested areas on the ground.
We expect to realize revenue of ~ Rs. 5,000-6,000 Mn over the next two years by ensuring timely and efficient delivery of critical shipments across verticals such as automotive, healthcare, ITes, and many more across 160 cities in India.
Our initial plan is to launch our operations in Bengaluru and gradually expand our services to two cities in the North and two cities in the North Eastern part of India. Initially, we'll be concentrating on providing intra-city services specifically for delivering critical shipments in the healthcare sector and as we progress, we'll implement advanced technologies to cater to inter-city deliveries as well.
This trust placed by CriticaLog India is a testimony of the quality of products delivered by Scandron Private Limited and the efficiency of its business model.
We look forward to a successful partnership that will generate substantial business growth and provide a solid foundation for our future endeavors."
Shares of Magellanic Cloud Ltd was last trading in BSE at Rs. 192.15 as compared to the previous close of Rs. 192.90. The total number of shares traded during the day was 113951 in over 638 trades.
The stock hit an intraday high of Rs. 193.70 and intraday low of 190.00. The net turnover during the day was Rs. 21874385.00.