(Representative image)
Hyderabad: City-based Magellanic Cloud, engaged in IT solutions, e-surveillance and drone manufacturing unveiled its agriculture and logistics drones in various capacities on Wednesday.
With operational ranges from 5 km to 60 km, carrying cargo payloads capacity between 2 to 100 kgs, these logistics drones are fully autonomous and can execute complex logistics missions.
The agri-spraying drones come in several sizes and allow farmers to cover their fields more efficiently, effectively and safely.
Chief executive officer of Magellanic Cloud, Sudheer Reddy Thumma said, “In the past year, we have made acquisitions, including iVIS International Private Limited, Provigil Surveillance Limited, and Scandron Private Limited.”
“Our expertise in e-surveillance systems, combined with our delivery and surveillance drones, will allow us to expand into sectors such as defence, agriculture, pharma, e-commerce, real estate, and retail. We have already completed Stage 2 testing in the heavy-duty logistics drone segment and are ready to demonstrate our capabilities for defence needs as well,” added the CEO.
Chief financial officer of the firm, Sanjay Chauhan said, “In the coming years, we expect significant growth in the drone segment, especially with the implementation of government initiatives like the National Logistics Policy (NLP) and Kisan Drone Shakti.”
While announcing their annual results on Wednesday, the firm officials stated that their consolidated revenue increased 37.2 percent to Rs 387.5 crore from the existing Rs 282.7 crores in FY22, while profit increased by 151.6 percent to Rs 74.1 crore in FY 23 against Rs 29.4 crore in FY 22.
This post was last modified on June 1, 2023 12:51 pm