Black Box Limited · NSE:BBOX
Black Box — Q3 FY26 Earnings Presentation
27 slides from Black Box's earnings presentation, Feb 12, 2026
Slide 1: Results Presentation Q3 FY26
REDEFINE READY Your Connect-Anything, Optimize-Everything Partner Results Presentation Q3 FY26 12 February 2026 1
Slide 2: 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 f
Slide 3: Q3 & 9m FY26 Financial Highlights
Q3 & 9m FY26 FINANCIAL HIGHLIGHTS 3
Slide 4: Financial Highlights – Q3 and 9m FY26
Financial Highlights – Q3 and 9m FY26 Revenue Quarterly – 3 months 9 months Amt in ` crore o Q3FY26 revenue grew by 11% YoY and 5% QoQ. Revenue increase was on the back of higher orders executed in 9m FY26 vs 9m FY25. o Healthy order booking of $232mn in Q3. Company will meet full year 1,502 1,585 1
Slide 5: Healthy Total Order Backlog
Healthy Total Order Backlog Increase in large value deals; focus on higher conversion of pipeline continues Total Order Book ($ million) Order Book and Pipeline’s Future Outlook o 9MFY26 order booking was $626mn; on track to meet its guidance of $1bn in FY26 based on current trajectory 601 o Strong
Slide 6: Proposed Acquisition of Brazil-based 2S Inovações Tecnológicas
Proposed Acquisition of Brazil-based 2S Inovações Tecnológicas Executed a definitive agreement to acquire 100% equity About 2S Technological Innovations #2 ▪ Founded in 1992, headquartered in Sao Paulo, Brazil, 2S Inovações Tecnológicas (2S), is a leading CISCO Partner in Global Brazilian solutions
Slide 7: Management Commentary
Management Commentary Commenting on the results and performance Mr. Sanjeev Verma, Whole-time Director, Black Box said, “Our Q3 performance reflects the strength of our focused go-to-market strategy and improving execution across regions. With order bookings on track to reach $1 billion in FY26 and
Slide 8: Well Diversified Global Business Model – 9m FY26
Well Diversified Global Business Model – 9m FY26 Revenue by Geography Revenue by Industry India, 7% Europe, 10% 12.0% Technology 25.0% MEA, 3% Financial Services 9.0% Consumer and Public Services APAC, 10% 12.0% Commercial and Industrial North America, 67% Healthcare 22.0% Latin America, 3% 20.0% Di
Slide 9: Consolidated P&L – Q3 and 9m FY26
Consolidated P&L – Q3 and 9m FY26 Particulars (in ` crore) Q3 FY26 Q3 FY25 YoY Q2 FY26 QoQ 9m FY26 9m FY25 YoY Revenue from Operations 1,660 1,502 11% 1,585 5% 4,631 4,422 5% Gross Profit 507 448 13% 478 6% 1,413 1,338 6% Gross Profit Margin 30.5% 29.8% 30.2% 30.5 30.3% Total Other Expenses 360 315
Slide 10: Medium Term Targets
MEDIUM TERM TARGETS 10
Slide 11: FY26 Revised Guidance
FY26 Revised Guidance Earlier Revised o Company will meet its guidance of order booking of Actual Actual Particulars Guidance Guidance $1bn in FY26 FY25 9M FY26 FY26E FY26E o By end of Mar-2026, Company expects order backlog Order Backlog 504 601 700 775-825 to be at $800mn+, higher by around $100mn
Slide 12: Large Headroom to Grow, And Long Runway
Large Headroom to Grow, And Long Runway Targeting up to 2.0% market share of the industry 12 * Source: Gartner # FY25 estimated market share of Black Box Ltd. approx. 0.6% Note: Refer “Industry Overview” under MD&A in AR FY25 for more details.
Slide 13: Historical Financial Highlights
HISTORICAL FINANCIAL HIGHLIGHTS 13
Slide 14: Historical Performance Snapshot – Annual
Historical Performance Snapshot – Annual Amt in INR cr Revenue EBITDA and Margin PAT and Margin CAGR: 21.5% CAGR: 50% 531 CAGR: high growth 6,288 6,282 5,967 428 205 5,370 352 8.9% 4,994 4,674 3.4% 328 138 7.5% 260 269 78 73 2.2% 6.6% 6.8% 1853 1.7% 24 1.4% 0.4% 4.8% 47 4.3% -1.6% -4.3% 2.5% -79 -80
Slide 15: Consolidated P&L Statement
Consolidated P&L Statement Successful turnaround of Black Box Ltd# after its acquisition in FY19 Particulars (in ` crore) FY21 FY22 FY23 FY24 FY25 H1 FY26 Revenue from Operations 4,674 5,370 6,288 6,282 5,967 2,971 Gross Profit 1,497 1,549 1,640 1,714 1,794 906 Gross Profit Margin 32.0% 28.9% 26.1%
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet Asset-light with low leverage Particulars (in ` crore) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Particulars (in ` crore) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-25 Non-Current Assets Equity Property, Plant And Equipment 164 190 161 120 102 123 Equity Share Capital 33 33 34
Slide 17: Summary of Consolidated Cash Flows
Summary of Consolidated Cash Flows Low capex business model Particulars (in ` crore) FY21 FY22 FY23 FY24 FY25 Sep-25 Operating profit before working capital changes 407 224 296 407 466 209 Changes in working capital -156 -108 -282 -301 -551 -143 Cash generated from operations 251 117 13 106 -85 66 D
Slide 18: About the Company
ABOUT THE COMPANY 18
Slide 19: Corporate Overview
Corporate Overview A global digital infrastructure services provider Black Box Limited is a global digital infrastructure integrator delivering network and system integration services and solutions, support services, and technology products to 35 30+ 5,000+ businesses in the United States, Europe, I
Slide 20: Global Footprint
Global Footprint Large presence to service the global players Seamlessly transforming technology across enterprises economically, uniformly, and with scale at a global level Across 6 Regions and 35+ Countries… Europe Austria Belgium Denmark Finland France Germany Italy Ireland Netherlands Asia-Pacif
Slide 21: Portfolio Offering
Portfolio Offering Global Solutions Integration Technology Product Solutions Others 84% 14% 2% Connectivity Infrastructure Audio Video Training Data Center Internet of Things Consulting Enterprise Networking Support Services Design services Modern Workplace Professional Services Cybersecurity 21 9m
Slide 22: Global Solutions Integration
Global Solutions Integration IoT, Physical Security & Surveillance Passive Infrastructure & Fiber Connectivity Structured Cabling INFRASTRU CTIVITY CTU ONNE RE C DC Infrastructure Advisory & GRC Financial Services and Commercial DA ITY Infrastructure X-as-a- Networking & TA Application CUR Developme
Slide 23: Technology Product Solutions
Technology Product Solutions Consulting Tailored combinations of technologies and products Factory Pre-Configuration High-Performance KVM and AV Video Wall IoT Monitoring, IP KVM Matrix Switching and Control and Sensors, and IT infrastructure, hardware Switching Extension Digital Signage Gateways and
Slide 24: Key Company Strengths
Key Company Strengths 120+ Fortune 500 clients & Strong Global Delivery Model Global Marquee Entp. With Local Expertise Entrenched Customer Well Positioned to Capitalize Relationship on Strong Industry Tailwinds KEY STRENGTHS Strategic OEM Extensive Portfolio of Partnerships Globally Solutions and S
Slide 25: Select Customers
Select Customers Associated with many of the global marquee and fortune 500 companies 6 25 * Logos Are The Property Of Their Respective Owners
Slide 26: Technology Partners
Technology Partners Furthering Digital Acceleration on Strong Partnerships 6 26 * Logos Are The Property Of Their Respective Owners
Slide 27: 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 / Karan Thakker purvesh.parekh@blackbox.com rahul.agarwal@s