{"id":180452,"date":"2026-02-12T07:30:08","date_gmt":"2026-02-12T12:30:08","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=180452"},"modified":"2026-02-12T07:30:08","modified_gmt":"2026-02-12T12:30:08","slug":"black-box-limited-q3-revenue-climbs-11-to-%e2%82%b91660-crore-firm-secures-strategic-brazil-acquisition","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/black-box-limited-q3-revenue-climbs-11-to-%e2%82%b91660-crore-firm-secures-strategic-brazil-acquisition\/","title":{"rendered":"Black Box Limited Q3 Revenue Climbs 11% to \u20b91,660 Crore; Firm Secures Strategic Brazil Acquisition"},"content":{"rendered":"\n<p>Black Box Limited (BSE: 500463\/NSE: BBOX), a global digital infrastructure integrator, announced its financial results for the third quarter and nine months ended December 31, 2025, reporting steady revenue growth and a major expansion into the Latin American market. The company, which provides network integration and cybersecurity solutions across six continents, continues to see strong momentum in its order book despite short-term supply chain challenges.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Business Model<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Financial Structure:<\/strong> The company has achieved an asset-light business model with low leverage, which management notes provides the flexibility to support both organic and inorganic growth.<\/li>\n\n\n\n<li><strong>Operational Efficiency:<\/strong> Despite higher employee expenses, the company achieved better fixed-cost absorption and maintained steady EBITDA margins through a more balanced business mix.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Financial &amp; Operational Performance<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For Q3 FY26, Black Box reported revenue from operations of \u20b91,660 crore, representing an 11% year-on-year (YoY) increase and a 5% growth over the previous quarter.<ul><li>EBITDA stood at \u20b9147 crore, a 10% YoY rise, with margins remaining steady at 8.9%.<\/li><\/ul>\n<ul class=\"wp-block-list\">\n<li>Profit After Tax (PAT) declined by 11% to \u20b950 crore, primarily due to a one-time exceptional provision of \u20b96 crore related to the New Labour Code.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>For the nine-month (9M) period, revenue reached \u20b94,631 crore, supported by higher order execution compared to the previous year.\n<ul class=\"wp-block-list\">\n<li>The company maintained a strong order backlog of $601 million as of December 2025, a $100 million increase over nine months, driven by conversions in the data center vertical.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Strategic Acquisition &amp; Geographic Presence<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In a significant milestone, Black Box executed a definitive agreement to acquire 100% equity in Brazil-based 2S Inova\u00e7\u00f5es Tecnol\u00f3gicas, a leading Cisco Gold Partner. The acquisition is expected to close by the end of FY26 and is projected to add approximately \u20b9500 crore in revenue in FY27.<\/li>\n\n\n\n<li>Black Box currently operates in 35+ countries, with North America accounting for 67% of its revenue.<\/li>\n\n\n\n<li>The company services over 120 Fortune 500 clients and has established a &#8220;connect-anything, optimize-everything&#8221; model across technology, financial services, and healthcare sectors.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler\"><div class=\"wp-block-embed__wrapper\">\n<p><a href=\"https:\/\/cdn.blackbox.com\/cms\/docs\/investors\/financials\/investor-presentation\/se_investorpresentation_q3fy26.pdf\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Click to access se_investorpresentation_q3fy26.pdf<\/a><\/p>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Client Retention &amp; Scale<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Long-Term Relationships:<\/strong> A major milestone in client stability is that the tenure of the company&#8217;s top 10 clients continues to remain above 20 years.<\/li>\n\n\n\n<li><strong>Massive Service Footprint:<\/strong> The company now services 5,000+ active client locations on-site and manages over 1,000 global customers.<\/li>\n\n\n\n<li><strong>Technical Expertise:<\/strong> Black Box has amassed 3,000+ technical certifications, supported by a global workforce of over 3,600 representatives.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Significant Notable Order Wins<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The company secured several high-value contracts across diverse sectors and geographies during the period, including:<ul><li><strong>Hyperscale Data Centers:<\/strong> Secured &#8220;very large&#8221; data center orders, specifically from hyperscalers.<\/li><\/ul><ul><li><strong>U.S. Public Sector:<\/strong> Won multiple orders from the United States public sector.<\/li><\/ul><ul><li><strong>Global Financial Services:<\/strong> Continued execution of a large-scale order for a leading U.S.-based financial services giant, alongside a new large order from a bank in Australia.<\/li><\/ul>\n<ul class=\"wp-block-list\">\n<li><strong>Digital Infrastructure:<\/strong> Landed a major order from an Indian internet giant.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary<\/strong><\/h2>\n\n\n\n<p>Mr. Sanjeev Verma, Whole-time Director, stated that the company is on track to reach $1 billion in order bookings for FY26, citing strong revenue visibility for the coming year. Mr. Deepak Kumar Bansal, Global CFO, noted that while the New Labour Code impacted current profits, the &#8220;underlying profitability trajectory remains intact&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Outlook &amp; Key Takeaway<\/strong><\/h2>\n\n\n\n<p>The company revised its FY26 revenue guidance to \u20b96,325\u2013\u20b96,375 crore, slightly down from earlier estimates due to supply chain delays in infrastructure projects like fiber and cabling. The key takeaway for investors is the company\u2019s successful transition into a high-value services provider, where its growing backlog and strategic Latin American entry position it for accelerated earnings growth in FY27.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Black Box Limited (BSE: 500463\/NSE: BBOX), a global digital infrastructure integrator, announced its financial results for the third quarter and nine months ended December 31, 2025, reporting steady revenue growth and a major expansion into the Latin American market. The company, which provides network integration and cybersecurity solutions across six continents, continues to see strong [&hellip;]<\/p>\n","protected":false},"author":2378,"featured_media":125269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,1941,392,8],"tags":[16336,16335,8532],"class_list":["post-180452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-stock-analysis","category-earnings","category-technology-stocks","tag-bbox","tag-ict","tag-technology"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":142843,"url":"https:\/\/alphastreet.com\/india\/black-box-ltd-q3-fy23-earnings-conference-call-insights\/","url_meta":{"origin":180452,"position":0},"title":"Black Box Ltd Q3 FY23 Earnings Conference Call Insights","author":"Praveen","date":"February 27, 2023","format":false,"excerpt":"Key highlights from Black Box Ltd (BBOX) Q3 FY23 Earnings Concall Management Update: [00:05:10] BBOX said that by FY24, it expects the revenue to cross INR7,000 crore and achieve EBITDA margins in the range of 9-10%. Q&A Highlights: [00:09:07] Ashay Jain of Jain Capital asked about the demand environment and\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":133899,"url":"https:\/\/alphastreet.com\/india\/black-box-ltd-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":180452,"position":1},"title":"Black Box Ltd Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"September 15, 2022","format":false,"excerpt":"Key highlights from Black Box Ltd (BBOX) Q1 FY23 Earnings Concall Q&A Highlights: [00:14:13] Aditi Sawant of ADM Advisors asked if the company plans to shift few of the employee base to the low cost countries like India. Sanjeev Verma MD said that some of company\u2019s backend processes, specially shared\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":180883,"url":"https:\/\/alphastreet.com\/india\/black-box-ltd-bbox-q3-2026-earnings-call-transcript\/","url_meta":{"origin":180452,"position":2},"title":"Black Box Ltd (BBOX) Q3 2026 Earnings Call Transcript","author":"News desk","date":"February 16, 2026","format":false,"excerpt":"Black Box Ltd (NSE: BBOX) Q3 2026 Earnings Call dated Feb. 12, 2026 Corporate Participants: Sanjeev Verma \u2014 Chief Executive Officer Deepak Bansal \u2014 Executive Director and Chief Financial Officer Global Analysts: Unidentified Participant CA Garvit Goyal \u2014 Analyst Jyoti Singh \u2014 Analyst Rohan Nagpal \u2014 Analyst Presentation: operator Ladies\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, 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Analysts: CA Garvit Goyal \u2014 Analyst Heli Shah \u2014 Analyst Saurabh Sadhwani \u2014 Analyst Suhas \u2014 Analyst Vivek Rohan Patel \u2014 Analyst Presentation: Operator\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":174850,"url":"https:\/\/alphastreet.com\/india\/black-box-ltd-bbox-q3-2025-earnings-call-transcript\/","url_meta":{"origin":180452,"position":5},"title":"Black Box Ltd (BBOX) Q3 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Black Box Ltd (NSE: BBOX) Q3 2025 Earnings Call dated Feb. 12, 2025 Corporate Participants: Sanjeev Verma \u2014 President and Chief Executive Officer Deepak Kumar Bansal \u2014 Executive Director, Global Chief Financial Officer Analysts: Deep Shah \u2014 Analyst CA Garvit Goyal \u2014 Analyst Vivek Choraria \u2014 Individual Investor Aman Soni\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, 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