Black Box share price
NSE: BBOXBSE: 500463IT - ServicesSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹809.15.
28 Oct: open ₹812.00, high ₹827.10, low ₹800.60
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹14,415 Cr515th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 63.78
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹69 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 48.84
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 11.20
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.12%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 22.1%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹69 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 28.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 23.1%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.64
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 4,90,50321.8% delivered
About Black Box
Black Box Limited is a global digital infrastructure integrator that provides network and system integration services, support services and technology products to businesses in the United States, Europe, India, Asia-Pacific, the Middle East and Africa, and Latin America.1 It builds data centre infrastructure for hyperscale (the largest cloud companies) and colocation customers, and serves financial services, technology, healthcare, retail, public services and manufacturing.12 Its registered office is in Navi Mumbai.3
Its business runs as Global Solutions Integration, covering connectivity, data centres, enterprise networking, modern workplace and cybersecurity; Technology Product Solutions, selling keyboard, video and mouse (KVM), cable, Internet of Things and audio-video products; and other services such as training, consulting and design.24 Its own products include the Emerald range of IP KVM switches, which let operators control many computers from one keyboard, screen and mouse.5
It was incorporated in 1986.3 It has about 4,000 employees, more than 1,500 of them technical experts, in more than 35 countries.6 Its promoter, Essar Telecom Limited, held 69.99% of the shares on 31 Mar 2026, and Essar Global Funds Limited is its ultimate holding company.7 Sanjeev Verma is whole-time director and chief executive officer, and Dilip Thakkar is chairman.83
Black Box key points
Results
- In the quarter to Jun 2026, revenue was ₹1,719 crore, the company's highest for any quarter and up 24% from a year earlier; about ₹60 crore of it came from 2S, the newly acquired Brazilian business, for the 2 months it was in the group.910
- In the quarter to Jun 2026, EBITDA (earnings before interest, tax, depreciation and amortisation) rose 38% to ₹160 crore, a margin of 9.3%, and profit after tax rose 18% to ₹56 crore.11
- In the year to Mar 2026, consolidated revenue rose 6% to ₹6,322 crore from ₹5,967 crore, EBITDA rose 7% to ₹570 crore from ₹531 crore, and profit after tax rose 6% to ₹218 crore from ₹205 crore.12
Business segments
- Share of revenue by business, as of March 202613
Item year to Mar 2026 Global Solutions Integration about 84% Technology Product Solutions about 14% Other services about 2% - Technology Product Solutions has proprietary research and development capabilities in Bengaluru and Limerick.14
- On its earnings call of 13 Aug 2026, the company said it expects its product business to grow in the range of 20-odd percent in the year to Mar 2027.15
Revenue mix
- In its presentation of 12 Aug 2026, the company said data centre work, about 17% of revenue in the year to Mar 2026, would rise to about 30% in the year to Mar 2027 as large data centre orders are executed.16
Where revenue comes from
- Share of revenue by region17
Item quarter to Jun 2026 North America 69% Europe 9% Asia-Pacific 8% India 6% Latin America 6% Middle East and Africa 2%
Order book
- The order backlog (orders received but not yet delivered) reached $949 million (₹8,986 crore) in the quarter to Jun 2026, up 28% on the previous quarter, after $339 million (₹3,208 crore) of new orders in the quarter.18
- The average tenure of the order backlog (the average time over which orders in hand are delivered) rose to about 18 months in the quarter to Jun 2026, from 12 to 15 months in the year to Mar 2026.19
- In the year to Mar 2026, the company booked record orders of more than $1 billion, about ₹9,000 crore, up 35% from the year before.20
Customers and partners
- The company has more than 1,000 customers, including more than 120 Fortune 500 companies (the largest US companies by revenue), 4 of the top 6 hyperscalers and 4 of the 5 largest US banks.2122
- One customer, in the System Integration segment, provided ₹1,143.86 crore of revenue in the year to Mar 2026, more than 10% of group revenue.23
- The company names Bank of America as its largest customer.21
What the company expects
- On its earnings call of 13 Aug 2026, the company said it expects revenue of ₹7,800 crore to ₹8,000 crore in the year to Mar 2027, growth of 23% to 27%, and profit after tax of ₹300 crore to ₹325 crore.24
- On its earnings call of 13 Aug 2026, the company said it expects EBITDA of ₹725 crore to ₹750 crore, a margin of 9.3% to 9.4%, and an order backlog of $1.3 billion to $1.4 billion at 31 Mar 2027.25
- On its earnings call of 13 Aug 2026, the company said it aims for ₹18,000 crore ($2 billion) of revenue by the year to Mar 2030, about ₹12,000 crore organically and ₹6,000 crore through acquisitions; its medium-term EBITDA margin objective is 10% or more.2627
- In its presentation of 12 Aug 2026, the company said it expects 2S, the Brazilian business it acquired, to add about ₹500 crore of annualised revenue (revenue at a full year's rate) in the year to Mar 2027.28
Recent events
- On 12 Aug 2026, the company announced a $131 million (about ₹1,240 crore) order from a new US-based hyperscaler customer for a data centre project in the US, to be delivered over about 3 years.29
- On 17 Jun 2026, CRISIL Ratings reaffirmed its BBB+ long-term and A2 short-term ratings (opinions on the company's ability to repay debt) on bank facilities, with the total rated enhanced to ₹70 crore from ₹45 crore, and revised the outlook to Positive from Stable.30
- On 13 May 2026, a Brazilian subsidiary completed the acquisition of 2S Inovações Tecnológicas S.A., a São Paulo-based provider of networking, data centre, cloud, cybersecurity and managed services founded in 1992, with effect from 1 May 2026.3132
- On 12 Feb 2026, a Brazilian step-down subsidiary agreed to buy 2S for around ₹275 crore payable at closing, plus deferred payments including earn-outs (payments tied to later performance); 2S had revenue of $53 million in the year to Dec 2024 under Brazilian accounting standards.3334
Last updated
All 34 sources, each with its page
- 1. Investor presentation, 12 Aug 2026, page 26
- 2. Investor presentation, 12 Aug 2026, page 27
- 3. Annual report, 24 Aug 2026, page 3
- 4. Annual report, 24 Aug 2026, page 205
- 5. Annual report, 24 Aug 2026, page 26
- 6. Investor presentation, 12 Aug 2026, page 32
- 7. Annual report, 24 Aug 2026, page 59
- 8. Exchange filing, 12 Aug 2026, page 2
- 9. Investor presentation, 12 Aug 2026, page 7
- 10. Earnings call, 13 Aug 2026, page 8
- 11. Earnings call, 13 Aug 2026, page 6
- 12. Annual report, 24 Aug 2026, page 57
- 13. Investor presentation, 12 Aug 2026, page 27
- 14. Annual report, 24 Aug 2026, page 9
- 15. Earnings call, 13 Aug 2026, page 10
- 16. Investor presentation, 12 Aug 2026, page 5
- 17. Investor presentation, 12 Aug 2026, page 8
- 18. Investor presentation, 12 Aug 2026, page 6
- 19. Investor presentation, 12 Aug 2026, page 6
- 20. Annual report, 24 Aug 2026, page 7
- 21. Investor presentation, 12 Aug 2026, page 31
- 22. Annual report, 24 Aug 2026, page 12
- 23. Annual report, 24 Aug 2026, page 205
- 24. Earnings call, 13 Aug 2026, page 7
- 25. Earnings call, 13 Aug 2026, page 7
- 26. Earnings call, 13 Aug 2026, page 5
- 27. Earnings call, 13 Aug 2026, page 6
- 28. Investor presentation, 12 Aug 2026, page 12
- 29. Exchange filing, 12 Aug 2026, page 2
- 30. Exchange filing, 17 Jun 2026, page 1
- 31. Annual report, 24 Aug 2026, page 59
- 32. Exchange filing, 13 May 2026, page 2
- 33. Exchange filing, 12 Feb 2026, page 1
- 34. Exchange filing, 12 Feb 2026, page 2
Results
Consolidated; ₹ crore.Black Box quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +12.2%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +5.1%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,719 Crup 1.63%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹56 Crdown 13.65%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 3.3%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,497 | 1,502 | 1,545 | 1,387 | 1,585 | 1,660 | 1,691 | 1,719 |
| Net profit | 51 | 56 | 60 | 47 | 56 | 50 | 65 | 56 |
| Net margin | 3.4% | 3.7% | 3.9% | 3.4% | 3.5% | 3.0% | 3.8% | 3.3% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹6,322 Crup 5.95%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹218 Crup 6.22%
- Net margin
- 3.4%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 780 | 733 | 1,853 | 4,994 | 4,674 | 5,370 | 6,288 | 6,282 | 5,967 | 6,322 |
| Net profit | 12 | 15 | −79 | 41 | 78 | 73 | 24 | 138 | 205 | 218 |
| Net margin | 1.5% | 2.0% | −4.3% | 0.8% | 1.7% | 1.4% | 0.4% | 2.2% | 3.4% | 3.4% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- System integrationSystem integration, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹5,326 Crup 5.07%84.2%
- Technology product solutionsTechnology product solutions, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹847 Crup 10.92%13.4%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹149 Crup 10.74%2.4%
Valuation
Today, against the company's own history.Black Box PE ratio and valuation
At or below today's level on 85% of 1,774 trading days since May 2017.
At or below today's level on 46% of 1,798 trading days since Nov 2018.
At or below today's level on 91% of 2,478 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +24.3% | +1.3% | +22.5% | 0.2% |
| 3 years | +68.7% | +105.5% | −18.0% | 0.2% |
| 5 years | +11.7% | +20.6% | −7.5% | 0.1% |
Mutual fund holdings
50 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 6 of the 7 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 50 funds holding Black Box
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 35
- AddedAdded. Funds that held more shares than at the end of the month before.
- 7
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 7
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
| 31,92,923 | 0.72% | ₹257.0 Cr | |
| 14,14,999 | 1.72% | ₹113.9 Cr | |
| 3,68,439 | 1.92% | ₹29.7 Cr | |
| 2,28,884 | 7.58% | ₹18.4 Cr | |
| 1,64,025 | 4.03% | ₹13.2 Cr | |
| 1,30,055 | 1.35% | ₹10.5 Cr | |
| 73,067 | 0.17% | ₹5.88 Cr | |
| 67,891 | 0.58% | ₹5.46 Cr | |
| 57,331 | 0.17% | ₹4.61 Cr | |
| 37,116 | 0.17% | ₹2.99 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Black Box insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade
- Others: no market trade
Black Box competitors and peers
IT Enabled Services, 115 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Black Box in market cap.IT companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 26,180 | 71.55 | 12.44 | +174.9% | +170.6% | 27.3% | 20.5% | 0.07% | |
| 21,202 | 20.66 | 2.07 | +28.5% | +28.5% | 10.7% | 12.9% | 0.33% | |
| 20,304 | 42.50 | 5.56 | +19.8% | +19.2% | 14.5% | 13.8% | 0.00% | |
| 14,906 | – | – | – | – | – | – | 0.00% | |
| 12,117 | 32.57 | 2.38 | +10.3% | −35.2% | 7.0% | 9.1% | 1.04% | |
| 12,028 | – | 6.85 | – | – | – | – | 0.00% | |
| 11,062 | 94.29 | 6.13 | +252.4% | +1,217.8% | 6.9% | 6.8% | 0.00% | |
| 4,262 | 19.72 | 2.76 | +13.2% | +2.0% | 14.9% | 18.5% | 0.69% |
Dividends
Per share, by the year it was paid for, and the latest payments.Black Box dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 28 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 29 Aug 2025 | Final | ₹1.00 |
| 16 Jul 2012 | Final | ₹15.00 |
| 8 Jul 2011 | Dividend | ₹2.25 |
| 29 Nov 2010 | Final | ₹4.50 |
| 4 Jan 2010 | Final | ₹3.50 |
Latest announcements
Routine notices left out.Black Box announcements
Sep 2026
22 Sep · Analysts
16 Sep · Meeting
16 Sep · Analysts
10 Sep · Analysts
4 Sep · Updates
Black Box share price by year
Each calendar year to 2025.Black Box share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 550.85 | −15.1% | 676.15 | 326.70 |
| 2024 | 648.75 | +122.8% | 704.20 | 213.10 |
| 2023 | 291.15 | +117.6% | 291.15 | 85.00 |
| 2022 | 133.80 | −18.1% | 206.41 | 122.25 |
| 2021 | 163.33 | +12.6% | 339.48 | 144.71 |
| 2020 | 145.09 | +400.7% | 160.63 | 28.96 |
| 2019 | 28.98 | +94.5% | 30.50 | 14.60 |
| 2018 | 14.90 | −41.8% | 27.34 | 10.06 |
| 2017 | 25.62 | +42.9% | 31.99 | 16.54 |
| 2016 | 17.93 | −5.5% | 20.81 | 11.06 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 807.00 | 828.00 | 795.70 | 809.15 | 814.19 | 4,92,644 | 33.7% |
| 26 Oct 2026 | 787.05 | 803.00 | 769.55 | 796.00 | 788.19 | 7,36,322 | 30.9% |
| 23 Oct 2026 | 877.95 | 880.45 | 801.90 | 805.10 | 822.71 | 16,20,366 | 30.8% |
| 22 Oct 2026 | 892.85 | 923.80 | 876.10 | 885.00 | 904.67 | 11,47,684 | 16.2% |
| 21 Oct 2026 | 897.10 | 917.70 | 872.00 | 896.80 | 896.74 | 7,97,838 | 28.9% |
| 19 Oct 2026 | 904.05 | 927.60 | 886.25 | 894.45 | 907.79 | 6,32,927 | 23.5% |
| 16 Oct 2026 | 875.00 | 920.00 | 874.60 | 907.25 | 907.21 | 8,13,029 | 22.4% |
| 15 Oct 2026 | 930.00 | 937.50 | 852.35 | 880.20 | 898.53 | 10,03,153 | 35.5% |
| 14 Oct 2026 | 921.85 | 952.00 | 920.00 | 935.80 | 939.99 | 10,58,985 | 26.3% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 13 May 2022 | Split | 0.2000 | Each share became 5. |
| 19 Dec 2012 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
Company details
- NSE symbol
- BBOX
- BSE code
- 500463
- ISIN
- INE676A01027
- Industry
- IT - Services
- Former symbols
- AGCNET, AVAYAGCL, TATATELECM
- Website
- www.agcnetworks.com
- CIN
- L32200MH1986PLC040652
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1986
- Registered office
- 01, 5th Floor, Building No. 9, Airoli Knowledge Park, MIDC Industrial Area, Airoli, Navi Mumbai 400708, Maharashtra
- Share registrar
- Datamatics Business Solutions Ltd
- Keeps the register of shareholders and handles transfers and dividend payments