Magellanic Cloud’s Subsidiary Receives Certification for Agricultural Drone

Magellanic Cloud Ltd announced in a stock exchange filing that its subsidiary, Scandron Private Limited, has received Type Certification for its Unmanned Aircraft System (UAS) model “SNDAG010QX8”.

The company stated that this advanced drone system is specifically engineered for agricultural agrochemical spraying, and features a sprayer tank with a maximum capacity of 8 litres, ensuring efficient and effective coverage across varied terrains and crop types.

The certification of the “SNDAG010QX8” marks a significant milestone for Magellanic Cloud Ltd, opening new revenue streams and expanding its market reach. The company aims to sell between 1,000 to 2,000 drones in the upcoming year, entering the burgeoning drone manufacturing market, which is poised for exponential growth over the next decade. This venture is expected to make a substantial contribution to the company’s top-line revenue. Given the high-margin nature of the drone business, it is also projected to positively impact the bottom-line profitability.

Additionally, the introduction of this agricultural drone system is aligned with broader socio-economic goals. It is set to enhance agricultural efficiency, promote environmental sustainability, and create job opportunities. Notably, it supports the “Namo Drone Didi Scheme”, an initiative launched by Prime Minister Narendra Modi aimed at empowering rural women. Through this scheme, agricultural drones are provided to rural women, enabling them to generate additional income.

Magellanic Cloud Ltd’s foray into the drone market highlights its commitment to innovation and sustainable growth. By leveraging cutting-edge technology, the company is positioned to play a critical role in transforming agricultural practices and contributing to national development goals. This strategic move not only strengthens its market position but also reinforces its dedication to social and environmental responsibility.

About Magellanic Cloud Ltd

Magellanic Cloud Limited was initially incorporated as “South India Projects Limited” with ROC, Kolkata, in 1981. The company operates in the USA, Asia, and Europe, offering IT services in software development, consulting, and human resource business solutions. These include listing employment vacancies and referring or placing applicants for employment.

On July 8, 2024, the share price of Magellanic Cloud Ltd opened at ₹688.00, touching the day’s high at ₹688.00, as of 9:48 AM on the BSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.