BBOX
Black Box Limited
Digital infrastructure integrator for enterprise connectivity and cybersecurity solutions
Information Technology›Information Technology›IT - Services›IT Enabled Services
blackbox.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹907.25
Market cap
16,106 Cr
Stock P/E
71.3
P/B
12.51
Dividend yield
0.1%
ROE (FY26)
16.9%
ROCE (FY26)
18.8%
Operating margin (FY26)
7.2%
Debt / equity (FY26)
0.64
OCF / EBITDA (FY26)
14.7%
OCF / EBITDA (3Y)
8.5%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Black Box is an Indian listed technology infrastructure integrator that designs, installs and manages data centre, networking, cybersecurity and managed services for hyperscalers, Fortune 500 enterprises, financial institutions and healthcare organisations in more than 35 countries.
Company snapshot
8thBy market cap
Ranked among 56 companies in IT Enabled Services.
Segment mix
Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Others | — | 0 Cr | 0 Cr | — |
| System integration | — | 0 Cr | 0 Cr | — |
| Technology product solutions | — | 0 Cr | 0 Cr | — |
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,574 Cr | 1,655 Cr | 1,480 Cr | 1,423 Cr | 1,497 Cr | 1,502 Cr | 1,545 Cr | 1,387 Cr | 1,585 Cr | 1,660 Cr | 1,691 Cr | 1,719 Cr |
| Operating expenses (approx.) | 1,473 Cr | 1,541 Cr | 1,355 Cr | 1,309 Cr | 1,362 Cr | 1,368 Cr | 1,398 Cr | 1,270 Cr | 1,442 Cr | 1,513 Cr | 1,527 Cr | 1,559 Cr |
| EBITDA | 102 Cr | 114 Cr | 125 Cr | 115 Cr | 135 Cr | 134 Cr | 147 Cr | 116 Cr | 143 Cr | 147 Cr | 164 Cr | 160 Cr |
| OPM % | 6.5% | 6.9% | 8.4% | 8.1% | 9.0% | 8.9% | 9.5% | 8.4% | 9.0% | 8.9% | 9.7% | 9.3% |
| Other income | 6 Cr | 11 Cr | 0.78 Cr | 1 Cr | 1 Cr | 1 Cr | 2 Cr | 2 Cr | 0.94 Cr | 1 Cr | 2 Cr | 4 Cr |
| Interest | 32 Cr | 36 Cr | 41 Cr | 34 Cr | 32 Cr | 31 Cr | 47 Cr | 34 Cr | 39 Cr | 40 Cr | 45 Cr | 48 Cr |
| Depreciation | 29 Cr | 28 Cr | 29 Cr | 26 Cr | 28 Cr | 31 Cr | 28 Cr | 27 Cr | 29 Cr | 30 Cr | 31 Cr | 36 Cr |
| Profit before tax | 33 Cr | 52 Cr | 47 Cr | 40 Cr | 55 Cr | 59 Cr | 58 Cr | 45 Cr | 61 Cr | 57 Cr | 76 Cr | 61 Cr |
| Tax % | 4.3% | 20.9% | 12.8% | 7.9% | 6.3% | 5.3% | -4.7% | -4.9% | 8.8% | 12.5% | 14.9% | 8.5% |
| Net profit | 32 Cr | 41 Cr | 41 Cr | 37 Cr | 51 Cr | 56 Cr | 60 Cr | 47 Cr | 56 Cr | 50 Cr | 65 Cr | 56 Cr |
| EPS (₹) | ₹1.90 | ₹2.43 | ₹2.44 | ₹2.21 | ₹3.04 | ₹3.33 | ₹3.57 | ₹2.80 | ₹3.28 | ₹2.92 | ₹3.78 | ₹3.15 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 780 Cr | 733 Cr | 1,853 Cr | 4,994 Cr | 4,674 Cr | 5,370 Cr | 6,288 Cr | 6,282 Cr | 5,967 Cr | 6,322 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 748 Cr | 700 Cr | 1,806 Cr | 4,625 Cr | 4,322 Cr | 5,096 Cr | 6,009 Cr | 5,849 Cr | 5,437 Cr | 5,752 Cr | Sign in free for the trailing twelve months |
| EBITDA | 32 Cr | 33 Cr | 47 Cr | 368 Cr | 352 Cr | 274 Cr | 279 Cr | 432 Cr | 530 Cr | 570 Cr | Sign in free for the trailing twelve months |
| OPM % | 4.1% | 4.5% | 2.5% | 7.4% | 7.5% | 5.1% | 4.4% | 6.9% | 8.9% | 9.0% | Sign in free for the trailing twelve months |
| Other income | 4 Cr | 5 Cr | 6 Cr | 33 Cr | 11 Cr | 6 Cr | 22 Cr | 19 Cr | 5 Cr | 6 Cr | Sign in free for the trailing twelve months |
| Interest | 26 Cr | 25 Cr | 45 Cr | 129 Cr | 98 Cr | 74 Cr | 111 Cr | 141 Cr | 145 Cr | 158 Cr | Sign in free for the trailing twelve months |
| Depreciation | 7 Cr | 8 Cr | 15 Cr | 99 Cr | 96 Cr | 99 Cr | 107 Cr | 114 Cr | 113 Cr | 116 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 13 Cr | 19 Cr | -79 Cr | 48 Cr | 96 Cr | 86 Cr | 29 Cr | 156 Cr | 212 Cr | 239 Cr | Sign in free for the trailing twelve months |
| Tax % | 18.3% | 21.7% | 0.7% | 14.5% | 18.6% | 15.4% | 19.5% | 12.0% | 3.3% | 9.0% | Sign in free for the trailing twelve months |
| Net profit | 10 Cr | 15 Cr | -79 Cr | 41 Cr | 78 Cr | 73 Cr | 24 Cr | 138 Cr | 205 Cr | 218 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹2.91 | ₹5.15 | ₹-26.97 | ₹13.83 | ₹26.05 | ₹22.25 | ₹1.42 | ₹8.20 | ₹12.16 | ₹12.78 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 7.7% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 28 Cr | 28 Cr | 30 Cr | 30 Cr | 33 Cr | 33 Cr | 34 Cr | 34 Cr | 34 Cr | 36 Cr |
| Reserves | 41 Cr | 62 Cr | -11 Cr | -78 Cr | 174 Cr | 228 Cr | 262 Cr | 447 Cr | 725 Cr | 1,251 Cr |
| Borrowings | 173 Cr | 138 Cr | 793 Cr | 257 Cr | 136 Cr | 274 Cr | 352 Cr | 397 Cr | 654 Cr | 827 Cr |
| Other liabilities | 346 Cr | 352 Cr | 1,619 Cr | 2,126 Cr | 1,961 Cr | 2,116 Cr | 2,354 Cr | 1,899 Cr | 1,660 Cr | 2,180 Cr |
| Total liabilities | 589 Cr | 580 Cr | 2,431 Cr | 2,335 Cr | 2,303 Cr | 2,650 Cr | 3,002 Cr | 2,777 Cr | 3,072 Cr | 4,294 Cr |
| Fixed assets (net) | 23 Cr | 23 Cr | 156 Cr | 249 Cr | 310 Cr | 385 Cr | 420 Cr | 411 Cr | 356 Cr | 411 Cr |
| CWIP | — | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Investments | — | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 30 Cr | 32 Cr | 33 Cr | 0 Cr |
| Loans & advances | — | — | 26 Cr | 19 Cr | 1 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Inventories | 19 Cr | 31 Cr | 151 Cr | 137 Cr | 149 Cr | 226 Cr | 362 Cr | 246 Cr | 210 Cr | 323 Cr |
| Trade receivables | 206 Cr | 208 Cr | 862 Cr | 361 Cr | 240 Cr | 374 Cr | 417 Cr | 386 Cr | 567 Cr | 1,153 Cr |
| Cash & bank | 16 Cr | 9 Cr | 206 Cr | 316 Cr | 357 Cr | 301 Cr | 200 Cr | 214 Cr | 214 Cr | 528 Cr |
| Other assets | 324 Cr | 309 Cr | 1,031 Cr | 1,253 Cr | 1,246 Cr | 1,364 Cr | 1,574 Cr | 1,487 Cr | 1,693 Cr | 1,879 Cr |
| Total assets | 589 Cr | 580 Cr | 2,431 Cr | 2,335 Cr | 2,303 Cr | 2,650 Cr | 3,002 Cr | 2,777 Cr | 3,072 Cr | 4,294 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 4 Cr | 52 Cr | -72 Cr | 1,014 Cr | 412 Cr | 171 Cr | 18 Cr | 134 Cr | -88 Cr | 84 Cr |
| Cash from investing | -4 Cr | -5 Cr | -357 Cr | -199 Cr | -131 Cr | -147 Cr | 19 Cr | -0.70 Cr | -47 Cr | -57 Cr |
| Cash from financing | -11 Cr | -54 Cr | 629 Cr | -659 Cr | -288 Cr | -43 Cr | -64 Cr | -155 Cr | 192 Cr | 197 Cr |
| Net cash flow | -10 Cr | -7 Cr | 201 Cr | 156 Cr | 41 Cr | -56 Cr | -102 Cr | 9 Cr | -0.31 Cr | 314 Cr |
| Free cash flow (OCF − Capex) | -5 Cr | 41 Cr | -102 Cr | 992 Cr | 382 Cr | 117 Cr | -80 Cr | 84 Cr | -132 Cr | 15 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 16.0% | 19.3% | -4.3% | 128.8% | 56.6% | 29.9% | 21.7% | 33.9% | 25.2% | 18.8% |
| ROE % | 14.8% | 16.6% | -421.9% | — | 37.8% | 27.9% | 8.0% | 28.6% | 27.0% | 16.9% |
| Debtor days | 96 | 103 | 169 | 26 | 19 | 25 | 24 | 22 | 35 | 66 |
| Inventory days | 2453 | 41806 | 17542 | 5582 | 10102 | 20407 | 33787 | 54176 | 28803 | 34473 |
| Days payable | 18892 | 187204 | 65348 | 22363 | 35015 | 81105 | 108092 | 153685 | 76314 | 84310 |
| Cash conversion cycle | -16343 | -145294 | -47637 | -16755 | -24895 | -60672 | -74281 | -99486 | -47476 | -49771 |
| OCF / EBITDA % | 13.0% | 156.3% | n.m. | 275.3% | 117.2% | 62.3% | 6.5% | 31.1% | -16.5% | 14.7% |
| OCF / EBITDA % (3 years) | — | — | -14.0% | 221.8% | 176.7% | 160.7% | 66.4% | 32.8% | 5.2% | 8.5% |
| Debt / equity | 2.48 | 1.53 | 42.50 | — | 0.66 | 1.05 | 1.19 | 0.83 | 0.86 | 0.64 |
| Current ratio | 0.78 | 0.89 | 1.20 | 0.83 | 0.95 | 0.95 | 1.02 | 1.17 | 1.56 | 1.83 |
| Net debt / EBITDA | 4.86 | — | 12.62 | -0.16 | -0.63 | -0.10 | 0.55 | 0.42 | 0.83 | 0.53 |