Black Box Limited (IN:BBOX)
:BBOX
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Black Box Limited
(BBOX)
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Rating:61Neutral
Price Target:
₹1,032.00
▲(85.95% Upside)
Action:Reiterated
Date:05/27/26
The score is driven primarily by mixed financial quality: improving profitability and a stronger equity cushion are offset by highly inconsistent operating cash flow and recurring negative free cash flow. Technically, the stock has strong upward momentum but is extremely overextended, raising near-term risk. Valuation is a headwind due to the high P/E, partially balanced by a high dividend yield.
Positive Factors
Improving profitability trend
Profitability improved meaningfully into FY2026 after earlier weakness, indicating the business has begun to restore earnings power. Sustained profit recovery supports reinvestment capacity and resilience across project cycles, improving medium-term cash generation potential if trends continue.
Negative Factors
Weak and inconsistent cash generation
Operating cash flow swung between strongly positive and negative, with free cash flow negative in multiple years including FY2026. Persistent weak cash conversion undermines ability to fund growth organically, raises refinancing risk, and makes dividend or capex plans harder to sustain over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profitability trend
Profitability improved meaningfully into FY2026 after earlier weakness, indicating the business has begun to restore earnings power. Sustained profit recovery supports reinvestment capacity and resilience across project cycles, improving medium-term cash generation potential if trends continue.
Read all positive factors
Black Box Limited (BBOX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹185.41B
Dividend Yield0.19%
Average Volume (3M)61.43K
Price to Earnings (P/E)81.2
Beta (1Y)1.34
Revenue Growth5.95%
EPS Growth5.13%
CountryIN
Employees3,883
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)12.98
Shares Outstanding177,495,250
10 Day Avg. Volume72,735
30 Day Avg. Volume61,426
Financial Highlights & Ratios
PEG Ratio6.86
Price to Book (P/B)5.91
Price to Sales (P/S)1.20
P/FCF Ratio-114.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)19.65
Revenue Forecast (FY)₹76.76B
Black Box Limited Business Overview & Revenue Model
Company Description
Black Box Limited provides information and communications technology solutions worldwide. It operates through System Integration, Technology Product Solution, and Others segments. The company offers unified communication solutions, such as IP comm...
How the Company Makes Money
null...
Black Box Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
70
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 60.18B | 63.22B | 59.67B | 62.82B | 62.88B | 53.70B |
| Gross Profit | 9.40B | 9.31B | 9.42B | 8.39B | 6.66B | 7.04B |
| EBITDA | 4.79B | 5.57B | 4.55B | 3.44B | 1.92B | 1.95B |
| Net Income | 2.20B | 2.18B | 2.05B | 1.38B | 237.00M | 727.20M |
Balance Sheet | ||||||
| Total Assets | 35.39B | 42.94B | 30.72B | 27.77B | 30.02B | 26.50B |
| Cash, Cash Equivalents and Short-Term Investments | 8.09B | 5.40B | 7.78B | 2.16B | 8.92B | 3.01B |
| Total Debt | 10.38B | 11.53B | 9.42B | 7.12B | 6.28B | 4.81B |
| Total Liabilities | 26.34B | 30.07B | 23.13B | 22.96B | 27.06B | 23.90B |
| Stockholders Equity | 9.05B | 12.87B | 7.59B | 4.81B | 2.96B | 2.60B |
Cash Flow | ||||||
| Free Cash Flow | 137.40M | -663.10M | -2.52B | 835.80M | -802.80M | 91.80M |
| Operating Cash Flow | 536.00M | 58.40M | -2.07B | 1.34B | 180.60M | 602.40M |
| Investing Cash Flow | -179.90M | -568.50M | -465.60M | 6.90M | 194.70M | -366.40M |
| Financing Cash Flow | -175.60M | 2.75B | 3.12B | -1.55B | -635.20M | -428.20M |
Black Box Limited Technical Analysis
Positive
555.00
Price Trends
650.77
Positive
588.03
Positive
552.17
Positive
Market Momentum
108.07
Negative
93.28
Negative
83.31
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BBOX, the sentiment is Positive. The current price of 555 is below the 20-day moving average (MA) of 855.32, below the 50-day MA of 650.77, and above the 200-day MA of 552.17, indicating a bullish trend. The MACD of 108.07 indicates Negative momentum. The RSI at 93.28 is Negative, neither overbought nor oversold. The STOCH value of 83.31 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BBOX.
Black Box Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | ₹69.77B | 13.43 | ― | 3.28% | 9.68% | 1.75% | |
72 Outperform | ₹62.90B | 20.71 | ― | 0.59% | 5.89% | -5.03% | |
69 Neutral | ₹24.05B | 65.12 | ― | 0.14% | 12.53% | -9.91% | |
65 Neutral | ₹44.84B | 33.43 | ― | 0.21% | 2.34% | -9.30% | |
63 Neutral | ₹100.00B | 28.74 | ― | 0.69% | 21.53% | 3.38% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | ₹185.41B | 81.15 | ― | 0.19% | 5.95% | 5.13% |
* Technology Sector Average
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Black Box Limited Corporate Events
Black Box Finalizes 100% Acquisition of Brazilian Integrator 2S
May 13, 2026
Black Box Limited has completed the acquisition of 100% of Brazilian solutions integrator 2S Inovações Tecnológicas through its step-down subsidiary, Black Box do Brasil Indústria e Comércio Ltda. All terms and conditions ...
Black Box boosts LATAM footprint with acquisition of Brazil’s 2S Inovações Tecnológicas
May 13, 2026
Black Box Limited has completed its acquisition of 2S Inovações Tecnológicas S.A., a São Paulo-based provider of digital infrastructure, data center networking, cloud, cybersecurity, and managed services, effective May 1, 2026....
Exchange Seeks Clarification From Black Box Limited After Sharp Price Move
May 11, 2026
Black Box Limited has experienced a notable price movement in its traded securities, drawing attention from the market regulator. The exchange has contacted the company to obtain updated, relevant information, aiming to safeguard investor interest...
Exchange Seeks Clarification From Black Box Limited After Trading Surge
Apr 28, 2026
Black Box Limited’s shares have experienced a significant surge in trading volume, drawing attention from the stock exchange to unusual activity in the counter. In response, the exchange has formally requested updated, relevant information f...
Black Box Raises ₹386 Crore via Full Warrant Conversion, Boosting Promoter Stake
Mar 30, 2026
Black Box Limited, a global digital infrastructure solutions provider, has completed the conversion of warrants issued in September 2024, raising ₹386.36 crore through a preferential issue. The company converted 92,65,215 warrants into equit...
Black Box boosts equity base with conversion of over 5.1 million warrants
Mar 18, 2026
Black Box Limited has approved the allotment of 5,109,612 equity shares following the conversion of previously issued convertible warrants, after warrant holders paid the remaining 75% of the issue price. The move, which involves both promoter and...
Black Box Schedules Investor Meetings Ahead of March Conferences
Mar 4, 2026
Black Box Limited has announced that its officials will participate in upcoming analyst and institutional investor interactions, including a one-on-one and group meeting at JM Financial Services’ Data Centre Day in Mumbai on March 9, 2026, a...
Black Box boosts equity capital with Rs 26.97 crore warrant conversion
Feb 28, 2026
Black Box Limited has approved the allotment of 646,674 equity shares following the conversion of an equivalent number of previously issued convertible warrants, after the warrant holders paid the remaining 75% of the issue price. The move increas...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.