Black Box Limited · NSE:BBOX
Black Box — Investor Day (June 2026)
56 slides from Black Box's investor day presentation, Jun 1, 2026
Slide 1: Submission letter to stock exchanges
Telephone: +91 22 6661 7272 | Email: info.india@blackbox.com BBOX/SD/SE/2026/52 June 1, 2026 To, Corporate Relationship Department Corporate Relationship Department Bombay Stock Exchange Limited National Stock Exchange Limited P.J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mu
Slide 2: Capital Markets Day 2026
CAPITALMARKETSDAY2026 CAPI TAL MARKE TS DAY 2026 1 June 1, 2026
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Black Box Limited have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall not fo
Slide 4: Today's participants
Today's participants Sanjeev Verma Deepak Bansal Rick Gannon Bikram Sahoo Whole-Time Director & Executive Director & Chief Operating Chief Technology Chief Executive Officer Chief Financial Officer Officer Officer Kannan Ramaiah Mike Carney Paul Williams Garrick Cole Chief Human Chief of Strategies
Slide 5: Board of Directors
Board of Directors Dilip Thakkar Neha Nagpal Munesh Khanna Naresh Kothari Chairman & Independent Independent Non-Executive Independent Director Director Director Director Anshuman Ruia Sanjeev Verma Deepak Bansal Executive Whole-Time Director & Executive Director & Director Chief Executive Officer C
Slide 6: Agenda
1 About Black Box 2 Our Transformation Journey Agenda 3 Market Trends 4 Roadmap to $2B Revenue Growth 5
Slide 7: About Black Box
About Black Box 6
Slide 8: Black Box is a global leader in digital infrastructure solutions
Black Box is a global leader in digital infrastructure solutions …built on …while generating Global presence across 35+ countries… customer trust… value for stakeholders Europe 50 `6,322Cr (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Netherlands, Norway, Spain, Sweden, Switz
Slide 9: Our journey from Local to Glocal
Our journey from Local to Glocal 2025 – 26 • Strong order backlog:~$800M+ • Business transformation & 2019 turnaround complete; • AGC acquires NASDAQ listed • 2S (Brazil) acquired Black Box Corporation — subsequently taken private 1976 – 2018 FY30E • AGC and Black Box • ~$2B revenue aspiration found
Slide 10: Trusted by Fortune 500 enterprises across every major industry
Trusted by Fortune 500 enterprises across every major industry Technology Financial Healthcare Consumer & Commercial & Services Public Services Industrial 4 of top 6 hyperscalers 4 of Top 5 U.S. banks 1700+ Hospitals nationwide 10+ Fortune 500 brands 5+ Fortune 500 enterprises 4 of top 6 semiconduct
Slide 11: End-to-end digital infrastructure solutions and services
Black Box delivers end-to-end digital infrastructure solutions and services - built for the AI-driven infrastructure era 1 2 3 4 5 Data Centers Enterprise Networking Modern Workplace Connectivity Infrastructure Cybersecurity • DC infrastructure • Local & wide area • Customer • Fiber connectivity • T
Slide 12: Black Box has a deep partner ecosystem
Black Box has a deep partner ecosystem Technology partners Distribution Partners Note: Logos are the property of their respective owner 11
Slide 13: A leadership team with decades of experience
A leadership team with decades of experience across Enterprise IT, Digital Infra, and Global Delivery Leadership at a glance: 200+ years combined experience 4,000+ professionals managed across dept. Sanjeev Verma Deepak Bansal Mike Carney Kannan Ramaiah Rick Gannon ▪ Pure-play digital infra ▪ 28+ ye
Slide 14: Our transformative journey
Our transformative journey 13
Slide 15: Transformation complete; focus shifts to growth and scale
Transformation complete; focus shifts to growth and scale From inherited complexity… …to building a true platform High overheads and suboptimal cost structure 01 Significant SG&A and overlay costs, misaligned cost ratios +470 bps* EBITDA improvement Heavy subcontracting 02 Higher variable costs impa
Slide 16: Executed the turnaround in three phases
Executed the turnaround in three phases: fix the basics, architect for scale, unlock growth Step 3 Step 2 Unlock Growth Step 1 Architect for Scale ▪ Exited low-value customer Fixing the basics relationship: 8,000+ to <1,000; focus on ▪ 600+ employees in India GCC across 300+ strategic accounts ($10M
Slide 17: Strong proof points on turnaround
Strong proof points on turnaround across margins, backlog, balance sheet, and team… Magin Cost optimisation drove +470 bps EBITDA margin expansion - facility EBITDA (in `Cr) 1 consolidation, GCC scale up, unified ERP +470 bps (106% growth) Order backlog has grown 1.6× in 3 years - from $490M (FY23)
Slide 18: Marquee deals won over the last 3 years
Marquee deals won by Black Box over the last 3 years Technology Healthcare Data Center and In-Building 5G / OnGo solutions for a $341M $34M Connected Building and Digital Workplace solutions for the leading US-based global hyperscaler largest hospital chain in the US Managed Services, Connectivity I
Slide 19: Sustained capital infusion from Promoter
Sustained capital infusion from Promoter reinforcing long-term conviction in Black Box's growth story `425Cr of promoter capital invested across two tranches supporting the transformation journey and enabling the next phase of growth ROUND 1 ROUND 2 Initial growth funding Additional ₹200Cr fresh inv
Slide 20: Focus areas for the company as it accelerates growth
Focus areas for the company as it accelerates growth 01 Revenue Growth: Following a period of portfolio optimization and business transformation, the company is positioned to re-accelerate revenue growth 02 Cross-sell/increase wallet share: Leveraging a diversified solutions portfolio to drive highe
Slide 21: Market trends
Market trends 20
Slide 22: Data center infrastructure and enterprise IT are massive addressable markets
Data center infrastructure and enterprise IT are massive addressable markets underpinned by secular technology megatrends Scale of the opportunity globally 4 megatrends driving next wave of growth Artificial Intelligence - AI workloads to grow 6x Data center infra market in 2025 01 by 2030 & have a
Slide 23: Global data center capacity expected to double by 2030
Global data center capacity expected to double by 2030; AI driving next wave of growth Global Data center IT load capacity (in GW) Data center global market growing at ~22% CAGR, expected >100 GW of new supply; ~$3T investments announced 233 AI load scales rapidly toward ~50% of total demand by 2030
Slide 24: Global digital infra penetration is increasing
Global digital infra penetration is increasing; fueled by AI-led DC buildout, 5G industrialization, and hybrid workspace evolution Net add 2025 Major growth drivers include… across next 5 years 5G private networks going mainstream across factories, 01 hospitals, airports and warehouses - creating la
Slide 25: Roadmap to $2B Revenue Growth
Roadmap to $2B Revenue Growth 24
Slide 26: FY30 organic growth roadmap
FY30 organic growth roadmap: where we'll grow & what will fuel it ~2x organic revenue: ~`12,000Cr (~$1.3B) by FY30 @ 10%+ EBITDA Strategic pillars Hyperscale A B GSI Americas C RoW business D TPS digital infra 1. 01 Growth play: Big game 1. 01 Displacement play: 1. Alliance and partnership 01 1. S
Slide 27: 250+ DCs to be built over the next 3-4 years
A. Hyperscale digital infra A.1 Over the next 3-4 years, 25 major DC companies are projected to build 250+ DCs – Black Box is well positioned to ride this wave US Market growing at 18% CAGR; Strategic pillars already 250+ DCs expected to be built over next 3-4 years in motion… Priority clusters for
Slide 28: Trusted partner for mission critical fit-out services for hyperscalers
A. Hyperscale digital infra A.1 Black Box is a trusted partner for mission critical fit-out services for hyperscalers Project Design Day 2 Maintenance and RunOps • Modular, MW- • 24/7 Smart Hands, RunOps scale ready at scale • Tailored, cost- • Outsource Full Time Onsite Teams optimized • On-demand
Slide 29: Deepening hyperscale relationships with recent large wins
A. Hyperscale digital infra A.1 Growth Play | Deepening hyperscale relationships with recent large wins; need to scale using the same playbook Existing client: Tier 1 Hyperscaler trusted us again with New Breakthrough: Tier 1 Hyperscaler for their major projects at unprecedented scale Data Center pr
Slide 30: Our programmatic approach to delivery on data center accounts
A. Hyperscale digital infra A.2 Our programmatic approach to delivery on data center accounts • Dedicated department leads with program focus 1 Program leadership • Commitment from Black Box executive team 2 Pre-Construction Pre-Construction • Standardized cross-site estimation framework readiness 3
Slide 31: Building a sharper GTM engine
B. GSI Americas B.1 &2 Displacement & Strengthening Play | Building a sharper GTM engine Differentiated pitches Sharp deal Rigorous engagement & solutions orchestration • Broader engagement with CXOs, • Tailored offerings with differentiated • Active involvement of senior executives in infrastructur
Slide 32: 27+ year relationship with one of the largest banks in the US
B. GSI Americas B.2 27+ year relationship with one of the largest bank in the US, consistently delivering quality Relationship overview Current strategic priorities $100M+ annual Focused on network • Artificial Intelligence 27-year spend 68% revenue infrastructure, support, • Building out infrastruc
Slide 33: COGS discipline will also be a priority
B. GSI Americas B.3 While pursuing rapid growth, COGS discipline will also be a priority What‘s next for Black Box to drive higher What Black Box is already working on margins Project management improvement Roadway to margin expansion 1 Set targets & periodically track delivery Continued focus on lo
Slide 34: Standardized delivery model and customer-first approach
E. Execution excellence E Focus on standardized delivery model and customer-first approach to drive execution at scale Key focus areas for our delivery model… …Proven at scale Standardized processes and project controls Scalable operational procedures, governance, and data-driven execution disciplin
Slide 35: Connectivity field support for Hyperscaler across multiple buildings
E. Execution excellence E Connectivity field support for Hyperscaler across multiple buildings Key challenges a• Simultaneous multi-hall build with interdependent OSP, Connectivity, and LV scopes under a fast-track delivery schedule b• Evolving design baselines, demanding real-time cable length vali
Slide 36: Delivered IT Solutions across large clients
E. Execution excellence E Delivered IT Solutions across large clients Second Largest US Bank Global Semiconductor Co. Home Improvement Retailer Challenge: Fragmented IT infra across Challenge: Inconsistent delivery quality and Challenge: Manual price updates, outdated 20,000+ sites caused high maint
Slide 37: The India opportunity is large
C. India C.1 The India opportunity is large; multi-billion $ TAM across data center infrastructure build & enterprise IT spend markets India DC market is in a high-growth India non-DC market is consistently phase; Black Box is positioned to growing Y-o-Y with potential for Black capture large share
Slide 38: Winning the Digital Infrastructure of the India AI Economy
C. India C.1 Winning the Digital Infrastructure of the India AI Economy requires a 3-dimensional approach Strategic priorities CXO Lens Black Box Solutions Integration • Data Sovereignty is a • Risk, control & jurisdiction • Intelligent connectivity infrastructure | Data critical priority alksdklas
Slide 39: A three-layered execution playbook
C. India C.2 A three-layered execution playbook to capture the opportunity Key Imperatives Sales: Delivery: Customer: Hunt with precision Efficiency at scale Protect and grow Time to • Top accounts: Top enterprises, GCCs • Practice-led horizontal • Structured regional Market & data center segmentati
Slide 40: TPS shift from products to platforms
D. TPS business D.1 TPS shift from products to platforms – unlocking recurring revenue and durable customer value We are here 1977-2012 2013-2023 2024- Future Connectivity Integrated Mission-Critical Distribution Infrastructure Solutions Platform Solutions Building the foundation as a leading Expand
Slide 41: Products business ~$90M to target $200M+ by FY30
D. TPS business D.2 Current products business ~$90M → target $200M+ by FY30; diversification of efforts across 7 key verticals High Performance KVM - CY 2026 SLED (State Local, Education) + Utilities C2 percentage of the market spend (TAM) that is made in each of the verticals • 911 dispatch, State
Slide 42: TPS: Profitable core today; scaled growth engine by FY30
D. TPS business D TPS: Profitable core today; scaled growth engine by FY30 ~14% 40% 2x 10%+ Revenue Gross FY30 Revenue EBITDA Margin Contribution Margin Growth Target Target R&D Organization Global Sales Reach Financial Strength • Centers in Bangalore & • Sells to Systems Integrators & • ~40% GP — p
Slide 43: Building the workforce that delivers growth
F. People and culture F.1 Building the workforce that delivers growth: data center- specialized, AI-embedded, continuously reskilled What’s already in place (4,000 in FY26) Where we’re scaling (~7,000 by FY30) DC & Technical • 1,500+ technology experts across key domains with • Scale DC-specialized
Slide 44: Create, develop, perform: the talent engine
F. People and culture F.2 Create, develop, perform: the talent engine powering the next wave Create 01 Develop 02 Perform 03 New workforce supply engine Relentless capability building Hold the bar - always • GT100 & Talent-on-Tap: industry- • 36+ hours of learning per employee • Disciplined attritio
Slide 45: Workforce as a structural margin lever
F. People and culture F.3 Workforce as a structural margin lever - Organizational redesign driving productivity gains and margin expansion GCC scaled in 3 years - enabling structural +30% productivity improvement margin expansion • Continuous expansion driven by • 600+ professionals to increase to ~
Slide 46: Accelerating toward AI and data-driven growth
G. Technology G With foundational technology in place, Black Box is accelerating toward AI and data-driven growth Where we are today 2019 2019 – 2020 2021 – 2025 2026+ Acquisition Baseline Platform Strategy Global Standardization Scale & Intelligence Fragmented Core Platforms 30+ Country Data & AI-D
Slide 47: AI adoption initiated at scale; autonomous agents ahead
G. Technology G AI adoption initiated at scale; Way forward to develop autonomous agents inside functions to act with human in loop AI is already at work across the business Where we go next? From AI that assists to AI that acts Functions Served Platform Integrated Procure. Legal & 01 Autonomous age
Slide 48: Disciplined capital allocation
H. Capital discipline H Disciplined capital allocation to support organic growth and strategic acquisition Software and IT infra and Talent Acquisitions Working capital licenses hardware management For capability build, (Includes payroll and (Includes enterprise (Includes network (Includes hiring, t
Slide 49: Aim to double organic revenue by FY30
H. Organic Growth H Aim to double organic revenue by FY30 to ~`12,000Cr (~$1.3B) Organic Revenue Key Enablers of Sustained Growth (in `Cr) 12,000 • Creating multi-million dollar deal wins with large hyperscalers ~17% CAGR across their new AI campus builds - becoming the partner of choice • Expanding
Slide 50: Boost revenues through inorganic acquisitions
H. Acquisitions H Further, we intend to boost revenues by `6,000Cr (~$700M) through inorganic acquisitions Our 3-pronged approach to realizing value from acquisitions Identify sub-optimal margin Complementary to existing Transform the acquired businesses business entities • Capability expansion in •
Slide 51: Revenue aspiration of Rs18,000Cr ($2B) by FY30
H. FY30 Aspiration H Organic and inorganic growth will help us achieve our revenue aspiration of `18,000Cr ($2B) by FY30 Organic Growth Inorganic Growth Driven by strong execution and Augmenting capabilities through backlog conversion proven M&A engine Aspiration ~`12,000Cr ~`6,000Cr to achieve (~$1
Slide 52: Q&A instructions
Q&A instructions ➢ Please raise your hand to ask a question Q&A ➢ Wait for a microphone runner to reach you and indicate that it is your turn ➢ Please state your name and firm 51
Slide 53: Glossary
Glossary 52
Slide 54: Glossary
Glossary Sno Abbreviation Description 1 GSI Global solutions integrator 2 TPS Technology and product solutions 3 RoW Rest of world 4 GCC Global capability center 5 SGU Strategic growth unit 6 DASaaS Distributed antenna system-as-a-service 7 AVoIP Audio-visual over internet protocol 8 ITSM/ITOM IT Se
Slide 55: Contact us
Contact us Company Investor Relations : Investor Relations Advisor : Black Box Limited Strategic Growth Advisors Private Limited CIN: L32200MH1986PLC040652 CIN: U74140MH2010PTC204285 Purvesh Parekh (Head of Investor Relations) Rahul Agarwal / purvesh.parekh@blackbox.com rahul.agarwal@sgapl.net (+91
Slide 56: ) BLACK 8x
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