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Black Box Limited
(BBOX)
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Rating:52Neutral
Price Target:
₹763.00
▼(-2.02% Downside)
Action:Reiterated
Date:08/27/26
The score is primarily constrained by inconsistent and often negative free cash flow despite improving profitability and a stronger equity base. Technical indicators are also weak (negative MACD and trading below key moving averages), while valuation is mixed—high P/E is a headwind but the high dividend yield provides some support.
Positive Factors
Improved Profitability
Profitability has recovered meaningfully from the FY2023 trough, strengthening the company’s earnings base and indicating improved operating performance, although consistency still depends on maintaining healthier margins across its IT services and solutions portfolio.
Negative Factors
Weak Cash Conversion
Weak conversion of accounting earnings into cash can constrain reinvestment, debt reduction, and shareholder returns. Persistent pressure may reflect demanding working-capital needs or investment requirements in project-based IT services.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Profitability
Profitability has recovered meaningfully from the FY2023 trough, strengthening the company’s earnings base and indicating improved operating performance, although consistency still depends on maintaining healthier margins across its IT services and solutions portfolio.
Read all positive factors
Black Box Limited (BBOX) vs. iShares MSCI India ETF (INDA)
Market Cap
₹132.71B
Dividend Yield0.13%
Average Volume (3M)61.43K
Price to Earnings (P/E)57.5
Beta (1Y)1.01
Revenue Growth12.20%
EPS Growth2.98%
CountryIN
Employees3,883
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)12.98
Shares Outstanding177,599,200
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)20.4
Revenue Forecast (FY)₹81.85B
Black Box Limited Business Overview & Revenue Model
Company Description
Black Box Limited stands as a global provider of comprehensive information and communications technology (ICT) services. Its operations are structured across distinct segments: System Integration, Technology Product Solution, and a broader 'Others...
How the Company Makes Money
Black Box makes money primarily by selling IT services and solutions to enterprise and government clients across the full lifecycle of technology infrastructure projects. Key revenue streams typically include: (1) professional services fees for co...
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 | 5.13B | 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
Negative
778.75
Price Trends
847.94
Negative
813.74
Negative
668.49
Positive
Market Momentum
-19.20
Negative
43.15
Neutral
15.16
Positive
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 778.75 is above the 20-day moving average (MA) of 761.77, below the 50-day MA of 847.94, and above the 200-day MA of 668.49, indicating a neutral trend. The MACD of -19.20 indicates Negative momentum. The RSI at 43.15 is Neutral, neither overbought nor oversold. The STOCH value of 15.16 is Positive, 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹73.68B | 13.04 | ― | 2.00% | 13.21% | 12.05% | |
70 Outperform | ₹74.90B | 23.53 | ― | 1.19% | 7.88% | -1.77% | |
70 Outperform | ₹227.33B | 34.74 | ― | 2.12% | 5.19% | -12.17% | |
62 Neutral | ₹95.70B | 26.98 | ― | 0.55% | 22.59% | -0.57% | |
56 Neutral | ₹21.01B | 49.83 | ― | ― | 15.71% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹132.71B | 57.49 | ― | 0.13% | 12.20% | 2.98% |
* General Sector Average
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Black Box Limited Corporate Events
Black Box Publishes Q1 FY27 Earnings Call Transcript
Aug 20, 2026
Black Box Limited has notified the stock exchanges that it has released the official transcript of its Q1 FY27 earnings conference call, covering unaudited consolidated and standalone financial results. The document, filed under SEBI disclosure re...
Black Box Publishes EGM E-Voting Results in Newspapers, Updates Exchanges
Jun 20, 2026
Black Box Limited has notified the stock exchanges that it has published newspaper advertisements announcing the results of remote e-voting and on-site e-voting conducted at its Extraordinary General Meeting held on 19 June 2026. The disclosure, c...
Black Box Publishes Capital Markets Day 2026 Transcript for Investors
Jun 7, 2026
Black Box Limited has released the official transcript of its Capital Markets Day 2026 conference held on June 1, 2026, and submitted it to both the Bombay Stock Exchange and the National Stock Exchange in compliance with disclosure regulations. T...
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.