Magellanic Cloud Limited Regulatory Compliance Response
Scrip ID: MCLOUD
Magellanic Cloud Limited has formally responded to a deficiency notice from the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) regarding discrepancies identified in its financial results submitted on May 26, 2026. The company has corrected multiple errors in its XBRL filings and submitted a required declaration regarding its auditor's opinion.
Date and Nature of Exchange Query
The communication is dated July 03, 2026, and responds to an email from the exchanges regarding deficiencies/non-submission observed in the financial results submitted on May 26, 2026.
Company's Clarification on Financial Results
Magellanic Cloud addressed several specific discrepancies in its XBRL financial results filings:
- EPS Correction: The non-annualised EPS figure was inadvertently mentioned in the earlier Standalone and Consolidated XBRL filing. Revised filings with corrected EPS figures have been submitted.
- PBT and PAT Correction: The Profit Before Tax (PBT) and Profit After Tax (PAT) figures have been corrected in the Consolidated XBRL financial results.
- Paid-up Equity Share Capital Correction: The paid-up equity share capital figure has been corrected in both Standalone and Consolidated XBRL financial results.
- Reserves Correction: The reserves excluding revaluation reserve figures have been corrected in both Standalone and Consolidated XBRL financial results.
- Cash Flow Statement Correction: Cash flow statement figures have been corrected in both Standalone and Consolidated XBRL financial results.
Regulatory Compliance Declaration
The company acknowledged it had not submitted the required declaration regarding unmodified audit opinion. The company clarified that:
- The auditor's report for the financial year ended March 31, 2026 does not contain any qualified or modified opinion
- The omission was inadvertent
- The declaration required under Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 has been attached as Annexure-I
Annexure-I Details
The attached declaration confirms that the statutory auditors of the company, SGCO & CO LLP, Chartered Accountants (FRN: 112081W/W100184), have issued an audit report with unmodified opinion on the Audited Financial Results of the Company (Standalone & Consolidated) for the year ended March 31, 2026.