Black Box Limited (BBOX) AI Stock Analysis

• Market Cap: ₹93.13B
• Dividend Yield: 0.19%
• Average Volume (3M): 61.43K
• Price to Earnings (P/E): 43.0
• Beta (1Y): 1.51
• Revenue Growth: -0.64%
• EPS Growth: 28.23%
• Country: IN
• Employees: 3,883
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 3.67
• Shares Outstanding: 170,012,510
• 10 Day Avg. Volume: 72,735
• 30 Day Avg. Volume: 61,426
• PEG Ratio: 0.63
• Price to Book (P/B): 8.22
• Price to Sales (P/S): 1.05
• P/FCF Ratio: -24.78
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: ₹510.00 ▼(-1.28% Downside)

The overall stock score of 56 reflects a mixed outlook for Black Box Limited. The company's financial performance shows moderate profitability but faces significant cash flow challenges and reliance on debt. Technical analysis indicates a positive trend, but the stock appears overvalued with a high P/E ratio and low dividend yield.

Positive Factors

Operational Efficiency

Improved EBIT margin indicates enhanced operational efficiency, suggesting the company is effectively managing its costs and operations, which can lead to better profitability over time.

Return on Equity

An improved ROE suggests the company is effectively using its equity base to generate profits, indicating strong management performance and potential for sustained profitability.

Partnerships and Market Reach

Partnerships with major technology providers enhance service offerings and expand market reach, driving sales through cross-selling opportunities and supporting long-term revenue growth.

Negative Factors

Revenue Decline

Declining revenue indicates challenges in maintaining sales growth, which can impact long-term profitability and market position if not addressed.

Cash Flow Challenges

Declining free cash flow suggests liquidity challenges, which can hinder the company's ability to invest in growth opportunities and meet financial obligations.

Reliance on Debt

A high reliance on debt can strain financial flexibility and increase risk, especially if revenue growth does not improve to support debt servicing.

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 communication, multimedia integration, contact center, and collaboration solutions. It also provides data center and edge IT solutions, such as hyper converged infrastructure that integrates computing, storage, networking, and virtualization resources and other technologies; private cloud; mobility; and software defined networking. In addition, the company offers a portfolio of cyber security services. Further, it provides digital transformation and applications, such as gamification, customer experience and journey, automation, and IoT solutions. Additionally, the company offers guardian support services consisting of IT infrastructure remote and on-site management services; global security operations center and global network operations center services; managed services, including enterprise service management, integrated management data center, and cloud computing services; and professional services comprising consulting, deployment, design, customization, and audit services. It serves banking, financial service, and insurance; education; healthcare; travel and hospitality; IT/ITES; and manufacturing industries. The company was formerly known as AGC Networks Limited and changed its name to Black Box Limited in November 2021. Black Box Limited was incorporated in 1986 and is based in Navi Mumbai, India. Black Box Limited is a subsidiary of Essar Telecom Limited.

How the Company Makes Money

Black Box Limited generates revenue through multiple streams. Primarily, the company earns money by selling hardware and software products related to network and data center solutions. This includes routers, switches, and AV equipment. Additionally, BBOX offers professional services such as installation, configuration, and ongoing technical support, which contribute significantly to its revenue. Managed services, where the company takes responsibility for clients' IT infrastructure, represent another key revenue source. The company has established partnerships with major technology providers, allowing it to offer integrated solutions and expand its market reach. These collaborations enhance its service offerings and drive sales through cross-selling opportunities.

Black Box Limited Financial Statement Overview

Summary

Black Box Limited shows moderate profitability with improved operational efficiency and return on equity. However, it faces challenges in revenue growth and cash flow management, with a significant reliance on debt, posing potential risks.

Income Statement

Black Box Limited has shown inconsistent revenue growth with revenue declining in the latest period. Gross Profit Margin is at 14.07% and Net Profit Margin is at 3.43% for the latest year. The EBIT Margin improved to 7.11% from 4.98% the previous year, indicating better operational efficiency. However, the EBITDA margin decreased slightly to 7.86%. Overall, the company demonstrates moderate profitability but faces challenges in sustaining revenue growth.

Balance Sheet

The company's Debt-to-Equity Ratio is at 1.24, indicating a moderate level of debt compared to equity. The Return on Equity (ROE) improved to 27.00%, reflecting better utilization of equity to generate profits. However, the Equity Ratio stands at 24.70%, which suggests the company relies significantly on liabilities for its asset financing. The balance sheet shows moderate stability with a focus on leveraging debt.

Cash Flow

The Free Cash Flow has seen a significant decline, resulting in negative Free Cash Flow Growth. The Operating Cash Flow to Net Income ratio is negative, indicating operating challenges. The Free Cash Flow to Net Income ratio is also negative, reflecting cash flow issues. Overall, the cash flow position shows significant stress, indicating potential liquidity challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	59.30B	59.67B	62.82B	62.88B	53.70B	46.74B
Gross Profit	8.89B	9.42B	8.39B	6.66B	7.04B	6.98B
EBITDA	4.82B	4.55B	3.44B	1.92B	1.95B	2.95B
Net Income	2.15B	2.05B	1.38B	237.00M	727.20M	780.90M
Balance Sheet
Total Assets	0.00	30.72B	27.77B	30.02B	26.50B	23.03B
Cash, Cash Equivalents and Short-Term Investments	2.29B	7.78B	2.16B	8.92B	3.01B	5.39B
Total Debt	0.00	9.42B	7.12B	6.28B	4.81B	3.28B
Total Liabilities	-7.59B	23.13B	22.96B	27.06B	23.90B	20.96B
Stockholders Equity	7.59B	7.59B	4.81B	2.96B	2.60B	2.07B
Cash Flow
Free Cash Flow	0.00	-2.52B	835.80M	-802.80M	91.80M	3.82B
Operating Cash Flow	0.00	-2.07B	1.34B	180.60M	602.40M	4.12B
Investing Cash Flow	0.00	-465.60M	6.90M	194.70M	-366.40M	-1.31B
Financing Cash Flow	0.00	3.12B	-1.55B	-635.20M	-428.20M	-2.88B

Black Box Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 516.60
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BBOX, the sentiment is Negative. The current price of 516.6 is below the 20-day moving average (MA) of 529.75, below the 50-day MA of 544.53, and above the 200-day MA of 476.85, indicating a neutral trend. The MACD of -5.02 indicates Positive momentum. The RSI at 43.17 is Neutral, neither overbought nor oversold. The STOCH value of 27.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BBOX.

Black Box Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INTELLECT	73 Outperform	₹166.70B	41.37	―	0.68%	15.87%	39.55%
TANLA	65 Neutral	₹82.42B	17.38	―	3.24%	3.31%	-11.27%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
MAPMYINDIA	61 Neutral	₹97.49B	61.57	―	0.22%	22.12%	7.40%
NEWGEN	61 Neutral	₹137.75B	41.47	―	0.58%	11.47%	12.41%
NPST	58 Neutral	₹31.54B	111.94	―	0.14%	-36.28%	-44.04%
BBOX	56 Neutral	₹93.13B	42.99	―	0.19%	-0.64%	28.23%

Black Box Limited Corporate Events

Black Box Limited Schedules Earnings Call for Q2 and H1 FY26 Results

Black Box Limited has announced an upcoming earnings call scheduled for November 13, 2025, to discuss the financial results for the second quarter and the first half of the fiscal year 2026. This call is significant for stakeholders as it provides insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor confidence.

Black Box Limited Expands Capital Through Warrant Conversion

Black Box Limited has announced the allotment of 60,752 equity shares following the conversion of warrants, as part of a larger issuance of 92,65,215 convertible warrants. This conversion, involving a non-promoter allottee, Ushma Mehta, has increased the company’s issued capital, reflecting a strategic move to strengthen its financial base. The new shares will rank equally with existing shares, and the company still has 73,90,018 warrants outstanding for future conversion, indicating potential further capital expansion.

Black Box Partners with Wind River to Drive Global Edge and Cloud Innovation

Black Box Limited has announced a strategic partnership with Wind River to accelerate edge and cloud innovation globally. This collaboration is expected to generate approximately INR 1350 Cr. in revenue over the next five years, positioning Black Box as a key player in driving enterprise adoption of AI-driven workloads and scalable private cloud deployments. The partnership will enable Black Box to deliver integrated intelligent edge and cloud-native infrastructure, supporting AI workloads and providing enterprise-grade Linux platforms. This move reinforces Black Box’s commitment to shaping the future of digital infrastructure for enterprises worldwide.

Black Box Limited Announces AGM Voting Results

Black Box Limited announced the results of its 39th Annual General Meeting, where remote e-voting and e-voting were conducted. The publication of these results in multiple newspapers signifies the company’s commitment to transparency and stakeholder engagement, potentially impacting its reputation positively within the industry.

Black Box Limited Expands Equity Base with New Share Allotment

Black Box Limited has announced the allotment of 25,000 equity shares following the conversion of warrants, resulting in an increase in the company’s issued, subscribed, and paid-up capital. This move is part of a broader strategy involving the conversion of a total of 92,65,215 convertible warrants, with 74,82,745 warrants still outstanding. The recent allotment reflects the company’s ongoing efforts to strengthen its financial position and expand its equity base, which could have significant implications for its market presence and stakeholder interests.