Black Box Limited · NSE:BBOX
Black Box — Q1 FY27 Earnings Presentation
37 slides from Black Box's earnings presentation, Aug 12, 2026
Slide 1: Submission of Investor Presentation to Exchanges
Telephone: +91 22 6661 7272 | Email: info.india@blackbox.com BBOX/SD/SE/2026/75 August 12, 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,
Slide 2: Redefine Ready: Results Presentation Q1 FY27
REDEFINE READY Your Connect-Anything, Optimize-Everything Partner Results Presentation Q1 FY27 12 Aug 2026 1
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: Q1 FY27 Financial Highlights
Q1 FY27 FINANCIAL HIGHLIGHTS 3
Slide 5: Financial Highlights – Q1 FY27
Financial Highlights – Q1 FY27 Highest quarterly revenue, strong order booking and robust order backlog Revenue Amt in ` crore o Robust order bookings during the quarter of $339 mn (`3,208 cr) 5,967 6,323 o Order backlog strengthened to $949 mn (`8,986 cr) due to improved conversion of 1,545 1,691 p
Slide 6: Healthy Total Order Backlog
Healthy Total Order Backlog Increase in large value deals and large Project Wins; focus on higher conversion of pipeline continues Order Backlog ($ million) Order Book and Pipeline Update o Order bookings during the quarter: $339 mn (`3,208 cr) 949 o Order backlog increased by $157 mn (`1,486 cr) se
Slide 7: Management Commentary
Management Commentary Commenting on the results and performance Mr. Sanjeev Verma, Whole-time Director, Black Box said, “We have entered FY27 with strong momentum, delivering our highest-ever quarterly revenue of ₹1,719 crore, up 24% YoY, driven by improved execution of our expanding backlog and the
Slide 8: Well Diversified Global Business Model – Q1 FY27
Well Diversified Global Business Model – Q1 FY27 Revenue by Geography Revenue by Industry India, 6% Europe, 9% 13% Technology MEA, 2% 27% Financial Services 9% APAC, 8% Consumer and Public Services 10% Commercial and Industrial Latin America, Healthcare 6% North America, 69% 15% 26% Distributors & O
Slide 9: Consolidated P&L – Q1 FY27
Consolidated P&L – Q1 FY27 Particulars (in ` crore) Q1 FY27 Q1 FY26 YoY Q4 FY26 FY26 Revenue from Operations 1,719 1,387 24% 1,691 6,322 Gross Profit 524 428 26% 517 1,930 Gross Profit Margin 30.5% 30.9% 30.6% 30.5% Total Other Expenses 364 323 353 1,360 EBITDA 160 116 38% 164 570 EBITDA Margin 9.3%
Slide 10: Guidance
GUIDANCE 9
Slide 11: Aim to double organic revenue by FY30 to ~₹12,000cr
Aim to double organic revenue by FY30 to ~`12,000cr (~$1.3bn) On track Organic Revenue Key Enablers of Sustained Growth 12,000 • Creating multi-million-dollar deal wins with large hyperscalers across their new AI campus builds - becoming ~17% the partner of choice CAGR • Expanding Fortune-500 mega a
Slide 12: Intend to boost revenues by ₹6,000cr through inorganic acquisitions
Intend to boost revenues by `6,000cr (~$700mn) through inorganic acquisitions To add annualized `500 cr in revenue in FY27 from the Brazil-based acquisition of “2S Inovações Tecnológicas” Our 3-pronged approach to realizing value from acquisitions Identify sub-optimal margin Complementary to existin
Slide 13: Organic and inorganic growth to achieve ₹18,000cr revenue aspiration
Organic and inorganic growth will help us achieve our revenue aspiration of `18,000cr ($2bn) by FY30 Organic Growth Inorganic Growth Driven by strong execution and backlog Augmenting capabilities through proven conversion M&A engine Aspiration ~`12,000cr ~`6,000cr to achieve (~$1.3bn Revenue) (~$0.7
Slide 14: FY27 Guidance
FY27 Guidance Backlog and booking guidance implies multi-year visibility Actual Guidance YoY Growth Particulars FY26 FY27* % Order Backlog (in $mn) 792 1,300 – 1,400 65-75% Order Booking (in $mn) 1,003 1,325 – 1,450 32-45% Revenue (in ` crore) 6,322 7,800 – 8,000 23-27% EBITDA (in ` crore) 570 725 –
Slide 15: Industry Growth
INDUSTRY GROWTH 14
Slide 16: Digital Infrastructure Demand Stack
Digital Infrastructure Demand Stack Black Box sits across the enabling layers of AI-led enterprise modernization AI / Cloud workloads Data center build-out Connectivity infrastructure Enterprise networking Modern workplace Cybersecurity + managed services Secular tech megatrends translate into deman
Slide 17: 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 18: 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 19: 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, hospitals, airports and warehouses - creating large
Slide 20: Historical Financial Highlights
HISTORICAL FINANCIAL HIGHLIGHTS 19
Slide 21: Historical Performance Snapshot – Annual
Historical Performance Snapshot – Annual Amt in `cr Revenue EBITDA and Margin PAT and Margin CAGR: 19% CAGR: 43% 531 570 Loss to growing PAT 6,288 6,282 5,967 6,322 218 428 205 5,370 352 8.9% 9.0% 4,994 4,674 328 138 7.5% 260 269 78 73 6.6% 6.8% 1853 24 4.8% 47 4.3% 2.5% -79 -80 FY19 FY20 FY21 FY22
Slide 22: Consolidated P&L Statement
Consolidated P&L Statement Particulars (in ` crore) FY21 FY22 FY23 FY24 FY25 FY26 Revenue from Operations 4,674 5,370 6,288 6,282 5,967 6,322 Gross Profit 1,497 1,549 1,640 1,714 1,794 1,930 Gross Profit Margin 32.0% 28.9% 26.1% 27.3% 30.1% 30.5% Total Other Expenses 1,145 1,289 1,370 1,286 1,263 1,
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet Asset-light with low leverage Particulars (in ` crore) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Particulars (in ` crore) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 Non-Current Assets Equity Property, Plant And Equipment 164 190 161 120 102 128 Equity Share Capital 33 33 34
Slide 24: Summary of Consolidated Cash Flows
Summary of Consolidated Cash Flows Low capex business model Particulars (in ` crore) FY21 FY22 FY23 FY24 FY25 FY26 Operating profit before working capital changes 407 224 296 407 466 453 Changes in working capital -156 -108 -282 -301 -551 -342 Cash generated from operations 251 117 13 106 -85 111 Di
Slide 25: About the Company
ABOUT THE COMPANY 24
Slide 26: Corporate Overview
Corporate Overview A global digital infrastructure services provider Black Box Limited is a global digital infrastructure integrator delivering network and system integration 35 30+ 5,000+ Presence in Countries Global Technology Active Client Locations services and solutions, support services, and t
Slide 27: Black Box Services Portfolio
Black Box Services Portfolio Black Box delivers end-to-end digital infrastructure solutions & services - built for the AI-driven infrastructure era Global Solutions Integration (~84% of Revenue)(1) Technology Product Solutions (~14% of Revenue)(1) Black Box’s global solutions integration platform pr
Slide 28: Global Solutions Integration
Global Solutions Integration IoT, Physical ~84% revenue contribution as of FY26 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- Netw
Slide 29: Technology Product Solutions
Technology Product Solutions ~14% revenue contribution as of FY26 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 E
Slide 30: Well-Positioned To Capture Growth In The Digital Infrastructure Industry
Well-Positioned To Capture Growth In The Digital Infrastructure Industry Full-Stack of Offerings, Creating Differentiation Large Geographic Presence Black Box has a presence across the entire tech stack spanning Broad international footprint and U.S. coverage, enabling it to five horizontals and sev
Slide 31: 1,000+ Global Customers Across Mission Critical Verticals
1,000+ Global Customers, Including 120+ Fortune 500 Clients, Across Mission Critical Verticals Technology and Data Centers Financial Services . . ters ✓ Supports hyperscale data Center buildoutS and ConneCtiVity a Cen ✓ Delivers multi-site network and infrastructure deployments t Fin ✓ ProVideS Cabl
Slide 32: Scaled, Global Delivery Model With Strong Local Execution
Scaled, Global Delivery Model With Strong Local Execution Capabilities Global Talent, Local Execution, and Continuous Upskilling… …With Global Reach Global Workforce Employee Connectedness ~4,000 employees (1,500+ tech experts) across 35+ A purpose-driven culture built on active listening, communica
Slide 33: Black Box Leadership
Black Box Leadership Combines Deep Institutional Knowledge with Transformation Experience Leadership at a glance: 200+ years combined experience 4,000+ professionals managed across departments Sanjeev Verma Deepak Bansal Mike Carney Kannan Ramaiah Rick Gannon ▪ Pure-play digital infra ▪ 28+ years at
Slide 34: Key Company Strengths
Key Company Strengths 120+ Fortune 500 clients & Global Marquee Strong Global Delivery Model With Local Expertise Enterprises Well Positioned to Capitalize on Strong Entrenched Customer Relationship Industry Tailwinds KEY STRENGTHS Strategic OEM Partnerships Extensive Portfolio of Solutions Globally
Slide 35: Select Customers
Select Customers Associated with many of the global marquee and fortune 500 companies 6 34 * Logos Are The Property Of Their Respective Owners
Slide 36: Technology Partners
Technology Partners Furthering Digital Acceleration on Strong Partnerships 6 35 * Logos Are The Property Of Their Respective Owners
Slide 37: 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@sgapl