Black Box Limited (BBOX) AI Stock Analysis

Black Box Limited

(NSE:BBOX)

Select Model

Rating:48Neutral

Price Target:INR 877.00▲(11.11% Upside)

Action:reiterated

Date:09/16/26

The overall score is constrained by weak cash flow generation and negative free cash flow, which is the most significant risk. This is compounded by bearish technical momentum and a high P/E ratio. The company's improved balance sheet and profitability provide some support, but are insufficient to offset the primary concerns.

Positive Factors

Improved revenue and profitabilityThe return to revenue growth alongside stronger net income indicates improved operating performance after earlier weakness. If this combination persists, it can support reinvestment, strengthen delivery capabilities, and provide a more durable earnings base over the next several quarters.

Negative Factors

Weak and inconsistent cash generationPersistent difficulty converting accounting earnings into cash reduces financial quality and limits internally funded growth. Negative free cash flow can require tighter working-capital management or external funding, leaving less flexibility for investment and shareholder distributions.

Black Box Limited (BBOX) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 150.89B
Dividend Yield: 0.13%
Average Volume (3M): 52.59K
Price to Earnings (P/E): 60.7
Beta (1Y): 1.02
Revenue Growth: 12.20%
EPS Growth: 2.98%
Country: India
Employees: 3,883
Sector: General
Sector Strength: 55
Industry: Information Technology Services

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' c...

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 consu...

Black Box Limited Financial Statement Overview

Summary

Financial performance is mixed. The balance sheet is solid with reduced leverage (D/E 0.9) and healthy ROE (16.9%), but cash flow is a major concern with negative free cash flow for two years. Income statement shows improving but thin margins and modest revenue growth.

Income Statement

48Neutral

Balance Sheet

72Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	66.54B	63.22B	59.67B	62.82B	62.88B	53.70B
Gross Profit	10.04B	9.31B	9.42B	8.39B	6.66B	7.04B
EBITDA	6.01B	5.13B	5.37B	4.26B	2.73B	2.58B
Net Income	2.26B	2.18B	2.05B	1.38B	237.00M	727.20M
Balance Sheet
Total Assets	0	42.94B	30.72B	27.77B	30.02B	26.50B
Cash, Cash Equivalents and Short-Term Investments	5.40B	5.58B	7.78B	2.16B	8.92B	3.01B
Total Debt	0	11.53B	9.42B	7.12B	6.28B	4.81B
Total Liabilities	-12.87B	30.07B	23.13B	22.96B	27.06B	23.90B
Stockholders Equity	12.87B	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

Technical Analysis SentimentNegative

Last Price789.30

Price Trends

50DMA804.24Negative

100DMA840.04Negative

200DMA728.50Positive

Market Momentum

MACD-0.88Positive

RSI42.51Neutral

STOCH23.80Neutral

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 789.30 is below the 20-day moving average (MA) of 858.50, below the 50-day MA of 804.24, and above the 200-day MA of 728.50, indicating a neutral trend. The MACD of -0.88 indicates Positive momentum. The RSI at 42.51 is Neutral, neither overbought nor oversold. The STOCH value of 23.80 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:BBOX against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:TANLA	77Outperform	INR 83.24B	14.94	―	1.91%	17.68%	17.46%
IN:NEWGEN	74Outperform	INR 63.05B	19.58	―	1.36%	6.49%	-3.73%
IN:TATAELXSI	73Outperform	INR 236.14B	35.23	―	1.98%	10.01%	-0.08%
IN:INTELLECT	60Neutral	INR 70.88B	19.90	―	0.79%	16.99%	-12.47%
IN:RAMCOSYS	57Neutral	INR 19.08B	64.91	―	―	10.73%	236.66%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BBOX	48Neutral	INR 141.16B	60.68	―	0.13%	12.20%	2.98%

* General Sector Average

Performance Comparison

IN:BBOX and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:BBOX	Black Box Limited	794.85	247.79	45.30%
IN:INTELLECT	Intellect Design Arena Ltd	504.60	-681.81	-57.47%
IN:NEWGEN	Newgen Software Technologies Limited	442.45	-519.08	-53.98%
IN:RAMCOSYS	Ramco Systems Limited	507.10	-98.35	-16.24%
IN:TANLA	Tanla Platforms Ltd	627.60	13.05	2.12%
IN:TATAELXSI	Tata Elxsi Limited	3790.00	-1492.54	-28.25%

Black Box Limited Corporate Events

Black Box Plans Virtual Investor Conference Meeting Under SEBI Norms

Sep 22, 2026

Black Box Limited has scheduled a virtual group meeting with analysts and institutional investors at the Arihant Capital Bharat Connect “Rising Stars – September 2026” conference on September 29, 2026. The company emphasized that di...

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 regul...

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.

Date of analysis: Sep 16, 2026

Black Box Limited AI Stock Analysis