Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · BLACK BOX LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
BLACK BOX LIMITED
NSE: BBOX · BSE: 500463
NSE: BBOX · BSE: 500463
Information Technology › Information Technology › IT - Services › IT Enabled Services
BLACK BOX LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹811.85
Market cap₹14.4k cr
TTM P/E · P/B · EV/EBITDA61.8 · 11.20 · 26.6
BLACK BOX LIMITED is a IT - Services company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,370 | 6,288 | 6,282 | 5,967 | 6,322 |
| EBITDA (ex other income) | 252 | 227 | 393 | 464 | 507 |
| margin % | 4.7 | 3.6 | 6.3 | 7.8 | 8.0 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 22.25 | 1.42 | 8.20 | 12.16 | 12.78 |
| ROE % · ROCE % | 27.9 · 21.4 | 8.0 · 14.7 | 28.6 · 24.3 | 27.0 · 20.8 | 16.9 · 15.7 |
| Debt / equity (x) | 1.05 | 1.19 | 0.83 | 0.86 | 0.64 |
| Cash from operations | 171 | 18 | 134 | (88) | 84 |
| Capex | (54) | (73) | (33) | (8) | (51) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · BLACK BOX LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,497 | 1,502 | 1,545 | 1,387 | 1,585 | 1,660 | 1,691 | 1,719 |
| Profit before tax | 55 | 59 | 57 | 45 | 61 | 57 | 76 | 61 |
| Net profit | 51 | 56 | 60 | 47 | 56 | 50 | 65 | 56 |
| EPS (₹) | 3.04 | 3.33 | 3.57 | 2.80 | 3.28 | 2.92 | 3.78 | 3.15 |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| System integration | 5,326 | 84.2 |
| Technology product solutions | 847 | 13.4 |
| Others | 149 | 2.4 |
| Total, before eliminations | 6,322 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 43,370 | 32.9 | 6.68 | 20.0 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 28,839 | 37.0 | 10.30 | 26.2 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,430 | 47.4 | 6.74 | 28.7 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD | 25,071 | 95.9 | 34.66 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,192 | 21.4 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,968 | 41.7 | 5.47 | 27.3 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED ◆ | 14,418 | 61.8 | 11.20 | 28.7 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 12,888 | 33.8 | 2.09 | 11.7 | 7.5 | 9.7 | 12.0 | 13.0 |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 61.8 | 17.9 | 66 of 76 | 13% |
| P/B | 11.2 | 2.2 | 69 of 70 | 1% |
| ROCE | 9.5 | 9.6 | 44 of 86 | 49% |
| ROE | 16.9 | 9.2 | 15 of 70 | 80% |
| Debt / Equity | 0.6 | 0.0 | 67 of 70 | 4% |
| EBITDA margin | 8.4 | 13.0 | 52 of 69 | 25% |
| Revenue growth | 23.9 | 20.8 | 31 of 67 | 55% |
| Profit growth | 17.9 | 14.6 | 31 of 64 | 52% |
| Market cap | 14418 | 325 | 7 of 87 | 93% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · BLACK BOX LIMITED · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · RTA certificate for Q2 FY27 filed with BSE and NSE | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1 for Q2 results | compliance | minimal | — | — |
| 22 Sept 2026 · Black Box to attend Arihant Capital Rising Stars investor conference on Sep 29 | board shareholder meetings | low | — | — |
| 17 Sept 2026 · Newspaper publication of 40th AGM voting results | compliance | minimal | — | — |
| 16 Sept 2026 · Black Box 40th AGM: All 5 resolutions passed, final dividend approved | compliance | minimal | — | — |
| 16 Sept 2026 · Black Box 40th AGM held on Sept 16, 2026; final dividend declared | board shareholder meetings | medium | — | — |
| 16 Sept 2026 · Black Box to attend investor conferences with Anand Rathi, Nomura, PhillipCapital | board shareholder meetings | low | — | — |
| 10 Sept 2026 · Black Box to attend Jefferies India Investor Conference on Sept 18 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Black Box Q1FY27: Revenue up 24% YoY to Rs 1,718 Cr, PAT at Rs 56 Cr | results | high | — | — |
| 25 Aug 2026 · Newspaper advertisement for 40th AGM notice dispatch | compliance | minimal | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in