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Swing Capital

Magellanic Cloud Ltd

NSE: MCLOUD BSE: 538891IT / Software

Magellanic Cloud Limited was originally incorporated with ROC, Kolkata in 1981 in the name of “South India Projects Limited”. It is present in Europe, USA and Asia. The company provides its IT services in software development, consulting and human resource business solutions i.e. listing employment vacancies and referring or placing applicants for employment. [1]

₹24.6
52W: ₹19.4 — ₹105
PE 77.6 · Book ₹3.66 · +572% vs book
Market Cap₹1,446 Cr
Stock P/E77.6Price to Earnings
ROCE9.92%Return on Capital
ROE6.79%Return on Equity
Div. Yield0.12%Face Value ₹2

Strengths

  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 41.8% CAGR over last 5 years
  • +Debtor days have improved from 133 to 101 days.

Weaknesses

  • −Stock is trading at 6.65 times its book value
  • −Company has low interest coverage ratio.
  • −Company has a low return on equity of 8.59% over last 3 years.
  • −Promoters have pledged 33.9% of their holding.
  • −Promoter holding has decreased over last 3 years: -4.61%

Shareholding Pattern

Promoters54.04%
FIIs0.22%
DIIs0.02%
Public45.7%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.3%58.3%58.3%58.3%58.3%58.3%54.04%▼4.354.04%
FIIs0.28%1.06%▲0.80.92%▼0.10.51%▼0.40.44%▼0.10.43%▼0.00.26%▼0.20.22%▼0.0
DIIs0%0%0%0.03%▲0.00%▼0.00%0%0.02%▲0.0
Public41.42%40.63%▼0.840.77%▲0.141.16%▲0.441.25%▲0.141.27%▲0.045.69%▲4.445.7%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales24.0218.7715.4215.8327.3619.0319.2829.7723.9724.59
Expenses16.527.736.366.5116.658.569.4915.4710.399.89
Operating Profit7.511.049.069.3210.7110.479.7914.313.5814.7
OPM %31.22%58.82%58.75%58.88%39.14%55.02%50.78%48.03%56.65%59.78%
Net Profit2.985.23.973.463.673.53.725.184.714.8
EPS ₹0.050.090.070.060.060.060.060.090.080.08

AI Insights

Revenue Trend

TTM revenue at ₹98Cr, up 19.5% YoY. OPM at 54%.

Debt Position

Borrowings at ₹273Cr. Debt-to-equity ratio: 2.79x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹4Cr (21% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.02% (+0.02pp change). FIIs: 0.22% (+0.22pp change). Promoters hold 54.04%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 10% (Mar 2025). Working capital days: 42.

Valuation

PE 77.6x with 9.92% ROCE. Price is 572% above book value of ₹3.66. Dividend yield: 0.12%.

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