- Total income
- ₹5,936 Cr
- Profit
- ₹205 Cr

About Black Box Limited
Data last updated:
Black Box Limited is a public limited company based in Navi Mumbai, Maharashtra, India. It operates in the telecom network support segment of the telecommunications sector. It was incorporated on 19 August 1986 and has been in existence for over 40 years.
Black Box is ranked #399 on the Fortune India 500 (2025). It is part of the Nifty 500 index.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L32200MH1986PLC040652. Its GSTIN is 27AAACT3992M1ZR (Maharashtra). The company holds 19 GST registrations, of which 13 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 500463 and NSE: BBOX.
The company has an authorised share capital of ₹145 Cr and a paid-up capital of ₹35.52 Cr. It was formerly known as Avaya Globalconnect Limited and Tata Telecom Pvt Ltd. It is led by directors including Deepak Kumar Bansal (Whole-Time Director) and Sanjeev Shekhar Verma (Whole-Time Director).
Its last annual general meeting (AGM) was held on 16 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 501 5th Floor Building No.9 Airoli Knowledge Park MIDC Industrial Area Airoli, Navi Mumbai, Maharashtra, India – 400708.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹6,321.85 Cr, a growth of 5.9% compared to the previous year. For the same year it recorded a net profit of ₹262.49 Cr (net margin 4.2%) and EBITDA of ₹493.69 Cr (EBITDA margin 7.8%). The net worth stands at ₹1,286.91 Cr (up 69.6% YoY). Total assets are valued at ₹2,618.14 Cr (up 46.6% YoY).
The company has about 353 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 2 brands: Black Box and AGC Networks. As per MCA filings, the company has open charges of ₹305.58 Cr and satisfied charges of ₹585 Cr on record. Court records list 49 cases involving the company, including 26 filed by the company and 23 filed against it; 6 cases are pending. The company has 37 deals on record (34 market trades, 2 funding rounds, 1 acquisition), with disclosed funding of ₹635 Cr; the latest was in November 2025. The company has 28 MSME Form 1 returns on record between 2015 and 2024, listing 750 overdue payments to 159 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website blackbox.com.
Company details
Name history
Black Box has undergone 4 name changes throughout its history. The current legal name is Black Box Limited.
| Company Name | Status |
|---|---|
| Black Box Limited | Current |
| Avaya Globalconnect Limited | Previous |
| Tata Telecom Pvt Ltd | Previous |
| Tata Telecom Private Limited | Previous |
| Agc Networks Limited | Previous |
CIN history
Black Box has one previous CIN (Corporate Identification Number): U32200MH1986PLC040652. The current CIN is L32200MH1986PLC040652, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L32200MH1986PLC040652 | Current |
| U32200MH1986PLC040652 | Previous |
Recognitions & Rankings of Black Box
Contact details
Black Box Limited's registered office is in Navi Mumbai, Maharashtra. Its website is blackbox.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address501 5th Floor Building No.9 Airoli Knowledge Park MIDC Industrial Area Airoli, Navi Mumbai, Maharashtra, India – 400708
- IndustryTelecom, Telecom Network Support
To see the full contact details of Black Box Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Black Box operates two associated brands: Black Box and AGC Networks. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Data center equipment is supplied for enterprise operations optimization. | blackbox.com | |
| Managed IT services are provided globally by AGC Networks. | agcnetworks.com |
Business activity
The main business activity of Black Box is information and communication. In detail, this covers wired, wireless or satellite telecommunication activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J5 | Wired, wireless or satellite Telecommunication activities |
To see the full business activity and turnover split of Black Box Limited, buy the company report.
Financials of Black Box Limited
FY 2025-26 filings availableBlack Box Limited reported revenue of ₹6,321.85 Cr (up 5.9% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 6,322 | 5,967 | 6,282 | 6,288 | 5,370 | 4,674 | 4,994 |
| Revenue growth | +6.0% | -5.0% | -0.1% | +17.1% | +14.9% | -6.4% | - |
| EBITDA | 494 | 464 | 387 | 210 | 236 | 278 | 143 |
| EBITDA margin | +7.8% | +7.8% | +6.2% | +3.3% | +4.4% | +6.0% | +2.9% |
| Profit before tax | 239 | 212 | 156 | 29.45 | 85.98 | 95.99 | (72.98) |
| Net profit | 262 | 274 | 165 | 44.79 | 77.63 | 144 | 95.86 |
| Net profit margin | +4.2% | +4.6% | +2.6% | +0.7% | +1.5% | +3.1% | +1.9% |
| EPS (₹) | 12.25 | 12.09 | 8.19 | 1.41 | 4.43 | 24.01 | (26.88) |
| Balance sheet | |||||||
| Total assets | 2,618 | 1,786 | 1,308 | 1,060 | 873 | 724 | 838 |
| Net worth | 1,287 | 759 | 481 | 296 | 260 | 207 | (176) |
| Total debt | 1,153 | 942 | 712 | 628 | 481 | 328 | 596 |
| Cash & bank | 540 | 229 | 223 | 210 | 311 | 410 | 369 |
| Net working capital | 1,561 | 844 | 344 | 84.27 | 27.11 | (24.83) | 78.96 |
| Cash flow | |||||||
| Cash from operations | 83.95 | (87.61) | 129 | 13.04 | 95.25 | 303 | 1,137 |
| Cash from investing | 33.31 | (105) | 39.67 | (56.31) | (108) | 15.22 | (382) |
| Cash from financing | 197 | 192 | (155) | (58.49) | (42.81) | (277) | (645) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,718 | 1,691 | 1,660 | 1,585 | 1,387 | 1,545 | 1,502 | 1,497 |
| Revenue growth (YoY) | +23.9% | +9.5% | +10.5% | +5.8% | -2.6% | - | - | - |
| Other income | 3.75 | 2.14 | 1.18 | 0.94 | 1.72 | 6.00 | 1.44 | 3.26 |
| EBITDA | 141 | 150 | 125 | 129 | 104 | 127 | 120 | 112 |
| EBITDA margin | +8.2% | +8.9% | +7.5% | +8.1% | +7.5% | +8.2% | +8.0% | +7.5% |
| Depreciation | 35.59 | 30.92 | 29.84 | 29.03 | 26.56 | 27.53 | 31.15 | 28.31 |
| Interest | 48.00 | 45.02 | 39.58 | 39.46 | 33.58 | 47.22 | 31.31 | 32.25 |
| Profit before tax | 61.13 | 76.14 | 56.77 | 61.03 | 45.20 | 57.78 | 59.23 | 54.59 |
| Tax | 5.21 | 11.38 | 7.09 | 5.38 | (2.23) | (2.69) | 3.15 | 3.45 |
| Net profit | 55.92 | 64.76 | 49.68 | 55.65 | 47.43 | 60.47 | 56.08 | 51.14 |
| EPS (₹) | 3.15 | 4.57 | 2.89 | 3.25 | 2.79 | 3.54 | 3.28 | 3.04 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 406 | 377 | 387 | 363 | 294 | 250 | 309 |
| Revenue growth | +7.7% | -2.5% | +6.4% | +23.8% | +17.7% | -19.3% | - |
| EBITDA | 25.06 | 19.43 | (0.50) | 16.18 | 9.26 | 12.07 | 18.07 |
| EBITDA margin | +6.2% | +5.2% | -0.1% | +4.5% | +3.2% | +4.8% | +5.8% |
| Profit before tax | 18.50 | 11.98 | (1.11) | 5.79 | 5.81 | (1.86) | (1.63) |
| Net profit | 21.94 | 11.20 | (15.85) | 4.19 | 6.90 | (0.61) | (1.63) |
| Net profit margin | +5.4% | +3.0% | -4.1% | +1.2% | +2.4% | -0.2% | -0.5% |
| EPS (₹) | 1.03 | 0.70 | (0.89) | 0.35 | 1.77 | (0.57) | (0.55) |
| Balance sheet | |||||||
| Total assets | 756 | 502 | 362 | 398 | 346 | 308 | 219 |
| Net worth | 701 | 461 | 314 | 329 | 285 | 277 | 88.95 |
| Total debt | 43.18 | 33.83 | 38.95 | 54.61 | 53.16 | 21.56 | 113 |
| Cash & bank | 242 | 28.12 | 0.26 | 1.28 | 2.23 | 6.30 | 2.92 |
| Net working capital | 383 | 134 | 61.12 | 72.41 | 58.49 | 45.55 | 66.55 |
| Cash flow | |||||||
| Cash from operations | (20.07) | (24.26) | 22.65 | 14.60 | 15.27 | 22.73 | 23.57 |
| Cash from investing | 5.74 | (75.70) | (1.70) | (45.77) | (4.42) | (119) | 3.78 |
| Cash from financing | 233 | 122 | (20.98) | 30.92 | (14.24) | 98.96 | (26.99) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 96.38 | 110 | 103 | 117 | 75.99 | 124 | 87.13 | 81.09 |
| Revenue growth (YoY) | +26.8% | -11.3% | +18.1% | +44.0% | -9.7% | - | - | - |
| Other income | 3.75 | 2.01 | 1.46 | 1.41 | 1.78 | 2.12 | 1.73 | 1.18 |
| Total expenses | 98.77 | 93.09 | 102 | 111 | 73.66 | 107 | 83.90 | 81.63 |
| EBITDA | (2.39) | 17.26 | 0.44 | 5.76 | 2.33 | 17.04 | 3.23 | (0.54) |
| EBITDA margin | -2.5% | +15.6% | +0.4% | +4.9% | +3.1% | +13.7% | +3.7% | -0.7% |
| Depreciation | 2.15 | 2.35 | 2.19 | 2.70 | 1.87 | 1.89 | 1.97 | 2.03 |
| Interest | 1.67 | 1.60 | 0.99 | 1.19 | 1.06 | 1.82 | 1.50 | 0.94 |
| Profit before tax | (2.46) | 15.32 | (1.28) | 3.28 | 1.18 | 15.45 | 1.49 | (2.33) |
| Tax | (0.06) | 0.14 | 0.06 | 0.05 | 0.02 | (0.02) | 0.03 | 0.14 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,718 | 1,691 | 1,660 | 1,585 | 1,387 | 1,545 | 1,502 | 1,497 |
| Revenue growth (YoY) | +23.9% | +9.5% | +10.5% | +5.8% | -2.6% | - | - | - |
| Other income | 3.75 | 2.14 | 1.18 | 0.94 | 1.72 | 6.00 | 1.44 | 3.26 |
| EBITDA | 141 | 150 | 125 | 129 | 104 | 127 | 120 | 112 |
| EBITDA margin | +8.2% | +8.9% | +7.5% | +8.1% | +7.5% | +8.2% | +8.0% | +7.5% |
| Depreciation | 35.59 | 30.92 | 29.84 | 29.03 | 26.56 | 27.53 | 31.15 | 28.31 |
| Interest | 48.00 | 45.02 | 39.58 | 39.46 | 33.58 | 47.22 | 31.31 | 32.25 |
| Profit before tax | 61.13 | 76.14 | 56.77 | 61.03 | 45.20 | 57.78 | 59.23 | 54.59 |
| Tax | 5.21 | 11.38 | 7.09 | 5.38 | (2.23) | (2.69) | 3.15 | 3.45 |
| Net profit | 55.92 | 64.76 | 49.68 | 55.65 | 47.43 | 60.47 | 56.08 | 51.14 |
| EPS (₹) | 3.15 | 4.57 | 2.89 | 3.25 | 2.79 | 3.54 | 3.28 | 3.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 6,322 | 5,967 | 6,282 | 6,288 | 5,370 | 4,674 | 4,994 |
| Revenue growth | +6.0% | -5.0% | -0.1% | +17.1% | +14.9% | -6.4% | - |
| Other income | 19.44 | 5.76 | 25.44 | 37.90 | 22.55 | 11.13 | 7.41 |
| Total expenses | 5,828 | 5,503 | 5,895 | 6,077 | 5,135 | 4,396 | 4,851 |
| Employee cost | 2,241 | 2,279 | 2,501 | 2,682 | 2,146 | 1,825 | 1,895 |
| EBITDA | 494 | 464 | 387 | 210 | 236 | 278 | 143 |
| EBITDA margin | +7.8% | +7.8% | +6.2% | +3.3% | +4.4% | +6.0% | +2.9% |
| Depreciation | 116 | 113 | 114 | 107 | 98.60 | 95.56 | 91.69 |
| Interest | 158 | 145 | 141 | 111 | 73.60 | 97.91 | 132 |
| Profit before tax | 239 | 212 | 156 | 29.45 | 85.98 | 95.99 | (72.98) |
| Tax | 21.62 | 7.08 | 18.72 | 5.75 | 13.26 | 17.90 | 6.98 |
| Net profit | 262 | 274 | 165 | 44.79 | 77.63 | 144 | 95.86 |
| Net profit margin | +4.2% | +4.6% | +2.6% | +0.7% | +1.5% | +3.1% | +1.9% |
| EPS (₹) | 12.25 | 12.09 | 8.19 | 1.41 | 4.43 | 24.01 | (26.88) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 35.50 | 33.87 | 33.61 | 33.58 | 32.81 | 32.53 | 29.75 |
| Reserves & surplus | 1,251 | 642 | 447 | 262 | 215 | 162 | (206) |
| Shareholders' funds (net worth) | 1,287 | 759 | 481 | 296 | 260 | 207 | (176) |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 825 | 651 | 35.30 | 351 | 271 | 136 | 256 |
| Unsecured loans | 328 | 291 | 677 | 277 | 210 | 192 | 340 |
| Total debt | 1,153 | 942 | 712 | 628 | 481 | 328 | 596 |
| Total liabilities | 2,618 | 1,786 | 1,308 | 1,060 | 873 | 724 | 838 |
| Assets | |||||||
| Gross block | 1,445 | 1,188 | 1,149 | 1,195 | 1,100 | 903 | 781 |
| Net block | 883 | 769 | 808 | 794 | 732 | 622 | 557 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 2.23 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 32.80 | 32.07 | 30.40 | 0.00 | 0.00 | 0.00 |
| Inventories | 323 | 210 | 246 | 362 | 226 | 149 | 137 |
| Sundry debtors | 1,153 | 567 | 386 | 421 | 374 | 240 | 361 |
| Cash & bank balances | 540 | 229 | 223 | 210 | 311 | 410 | 369 |
| Loans & advances | 1,220 | 1,124 | 981 | 1,034 | 895 | 756 | 680 |
| Total current assets | 3,236 | 2,130 | 1,837 | 2,026 | 1,807 | 1,554 | 1,547 |
| Total current liabilities | 1,676 | 1,286 | 1,493 | 1,942 | 1,780 | 1,579 | 1,468 |
| Net working capital | 1,561 | 844 | 344 | 84.27 | 27.11 | (24.83) | 78.96 |
| Total assets | 2,618 | 1,786 | 1,308 | 1,060 | 873 | 724 | 838 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 214 | 214 | 200 | 302 | 357 | 316 | 206 |
| Net cash from operating activities | 83.95 | (87.61) | 129 | 13.04 | 95.25 | 303 | 1,137 |
| Net cash from investing activities | 33.31 | (105) | 39.67 | (56.31) | (108) | 15.22 | (382) |
| Net cash from financing activities | 197 | 192 | (155) | (58.49) | (42.81) | (277) | (645) |
| Net change in cash | 314 | (0.31) | 14.13 | (102) | (55.34) | 41.17 | 110 |
| Closing cash | 540 | 229 | 223 | 210 | 311 | 410 | 369 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +6.0% | -5.0% | -0.1% | +17.1% | +14.9% | -6.4% | - |
| EBITDA growth | +6.4% | +20.1% | +83.8% | -10.8% | -15.3% | +94.6% | - |
| PBT growth | +12.9% | +35.5% | +431.0% | -65.8% | -10.4% | +9998.0% | +8.0% |
| Net income growth | -4.3% | +66.0% | +268.7% | -42.3% | -46.2% | +50.5% | - |
| Revenue CAGR (3Y) | +0.2% | +3.6% | +10.4% | +8.0% | +42.6% | +85.4% | +85.7% |
| EBITDA CAGR (3Y) | +32.9% | +25.4% | +11.6% | +13.7% | - | +102.9% | +64.2% |
| Profitability & leverage | |||||||
| Net income margin | +3.4% | +3.4% | +2.2% | +0.4% | +1.4% | +1.7% | -1.6% |
| Return on capital employed | +20.3% | +27.8% | +26.4% | +15.4% | +16.5% | +31.1% | 0.0% |
| Return on net worth | +25.7% | +44.2% | +37.2% | +11.2% | +18.0% | +121.2% | 0.0% |
| Debt / equity | 1.02 | 1.33 | 1.73 | 1.99 | 1.73 | 30.20 | 0.00 |
| Long-term debt / equity | 0.30 | 0.75 | 1.21 | 0.97 | 0.94 | 9.62 | 0.00 |
| Interest cover | 41.78 | 41.25 | 51.89 | 108.22 | 53.71 | 53.57 | 256.61 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 4.80 | 5.11 | 5.36 | 5.48 | 5.36 | 5.55 | 7.66 |
| Inventory turnover | 23.74 | 26.17 | 20.65 | 21.39 | 28.66 | 32.76 | 34.75 |
| Debtors turnover | 7.35 | 12.52 | 15.56 | 15.81 | 17.49 | 15.55 | 8.17 |
| EPS (₹) | 12.25 | 12.09 | 8.19 | 1.41 | 4.43 | 24.01 | (26.88) |
| Dividend per share (₹) | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 72.50 | 39.88 | 28.62 | 17.63 | 15.12 | 59.73 | (59.20) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 96.38 | 110 | 103 | 117 | 75.99 | 124 | 87.13 | 81.09 |
| Revenue growth (YoY) | +26.8% | -11.3% | +18.1% | +44.0% | -9.7% | - | - | - |
| Other income | 3.75 | 2.01 | 1.46 | 1.41 | 1.78 | 2.12 | 1.73 | 1.18 |
| Total expenses | 98.77 | 93.09 | 102 | 111 | 73.66 | 107 | 83.90 | 81.63 |
| EBITDA | (2.39) | 17.26 | 0.44 | 5.76 | 2.33 | 17.04 | 3.23 | (0.54) |
| EBITDA margin | -2.5% | +15.6% | +0.4% | +4.9% | +3.1% | +13.7% | +3.7% | -0.7% |
| Depreciation | 2.15 | 2.35 | 2.19 | 2.70 | 1.87 | 1.89 | 1.97 | 2.03 |
| Interest | 1.67 | 1.60 | 0.99 | 1.19 | 1.06 | 1.82 | 1.50 | 0.94 |
| Profit before tax | (2.46) | 15.32 | (1.28) | 3.28 | 1.18 | 15.45 | 1.49 | (2.33) |
| Tax | (0.06) | 0.14 | 0.06 | 0.05 | 0.02 | (0.02) | 0.03 | 0.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 406 | 377 | 387 | 363 | 294 | 250 | 309 |
| Revenue growth | +7.7% | -2.5% | +6.4% | +23.8% | +17.7% | -19.3% | - |
| Other income | 7.39 | 5.97 | 13.98 | 3.87 | 6.74 | 8.47 | 6.26 |
| Total expenses | 381 | 357 | 387 | 347 | 284 | 237 | 291 |
| Employee cost | 48.54 | 42.03 | 56.83 | 44.73 | 38.11 | 32.21 | 36.43 |
| EBITDA | 25.06 | 19.43 | (0.50) | 16.18 | 9.26 | 12.07 | 18.07 |
| EBITDA margin | +6.2% | +5.2% | -0.1% | +4.5% | +3.2% | +4.8% | +5.8% |
| Depreciation | 9.11 | 7.97 | 7.91 | 6.51 | 4.49 | 5.39 | 7.46 |
| Interest | 4.84 | 5.45 | 6.68 | 7.75 | 5.70 | 17.01 | 18.50 |
| Profit before tax | 18.50 | 11.98 | (1.11) | 5.79 | 5.81 | (1.86) | (1.63) |
| Tax | 0.27 | 0.10 | 13.87 | (0.05) | 0.00 | 0.00 | 0.00 |
| Net profit | 21.94 | 11.20 | (15.85) | 4.19 | 6.90 | (0.61) | (1.63) |
| Net profit margin | +5.4% | +3.0% | -4.1% | +1.2% | +2.4% | -0.2% | -0.5% |
| EPS (₹) | 1.03 | 0.70 | (0.89) | 0.35 | 1.77 | (0.57) | (0.55) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 35.50 | 33.87 | 33.61 | 33.58 | 32.81 | 32.53 | 29.75 |
| Reserves & surplus | 665 | 344 | 281 | 296 | 240 | 232 | 59.20 |
| Shareholders' funds (net worth) | 701 | 461 | 314 | 329 | 285 | 277 | 88.95 |
| Secured loans | 14.78 | 7.38 | 11.38 | 23.45 | 22.67 | 16.43 | 93.82 |
| Unsecured loans | 28.40 | 26.45 | 27.57 | 31.16 | 30.49 | 5.13 | 19.36 |
| Total debt | 43.18 | 33.83 | 38.95 | 54.61 | 53.16 | 21.56 | 113 |
| Total liabilities | 756 | 502 | 362 | 398 | 346 | 308 | 219 |
| Assets | |||||||
| Gross block | 69.09 | 58.98 | 67.30 | 68.23 | 64.05 | 45.82 | 80.00 |
| Net block | 29.44 | 26.38 | 31.11 | 33.66 | 33.13 | 11.26 | 24.15 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 2.23 | 0.00 | 0.00 | 0.00 |
| Investments | 306 | 306 | 234 | 234 | 194 | 194 | 48.72 |
| Inventories | 35.45 | 17.30 | 13.58 | 11.49 | 6.87 | 11.86 | 10.00 |
| Sundry debtors | 173 | 154 | 97.29 | 119 | 82.48 | 66.88 | 77.11 |
| Cash & bank balances | 242 | 28.12 | 0.26 | 1.28 | 2.23 | 6.30 | 2.92 |
| Loans & advances | 78.43 | 94.46 | 63.24 | 63.00 | 77.02 | 81.99 | 94.37 |
| Total current assets | 529 | 294 | 174 | 194 | 169 | 167 | 184 |
| Total current liabilities | 147 | 160 | 113 | 122 | 110 | 121 | 118 |
| Net working capital | 383 | 134 | 61.12 | 72.41 | 58.49 | 45.55 | 66.55 |
| Total assets | 756 | 502 | 362 | 398 | 346 | 308 | 219 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 22.44 | 0.02 | 0.05 | 0.30 | 3.69 | 1.09 | 0.73 |
| Net cash from operating activities | (20.07) | (24.26) | 22.65 | 14.60 | 15.27 | 22.73 | 23.57 |
| Net cash from investing activities | 5.74 | (75.70) | (1.70) | (45.77) | (4.42) | (119) | 3.78 |
| Net cash from financing activities | 233 | 122 | (20.98) | 30.92 | (14.24) | 98.96 | (26.99) |
| Net change in cash | 219 | 22.42 | (0.03) | (0.25) | (3.39) | 2.60 | 0.36 |
| Closing cash | 242 | 28.12 | 0.26 | 1.28 | 2.23 | 6.30 | 2.92 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +7.7% | -2.5% | +6.4% | +23.8% | +17.7% | -19.3% | - |
| EBITDA growth | +29.0% | +3986.0% | -103.1% | +74.7% | -23.3% | -33.2% | - |
| PBT growth | +54.4% | +9998.0% | - | -0.3% | +9998.0% | -14.1% | - |
| Net income growth | +95.9% | +170.7% | -478.3% | -39.3% | +1231.2% | +62.6% | - |
| Revenue CAGR (3Y) | +3.8% | +8.7% | +15.7% | +5.5% | -1.5% | -6.3% | +7.9% |
| EBITDA CAGR (3Y) | +15.7% | +28.0% | - | -3.6% | +3.2% | -25.3% | - |
| Profitability & leverage | |||||||
| Net income margin | +4.5% | +3.2% | -3.9% | +1.6% | +2.0% | -0.8% | -0.5% |
| Return on capital employed | +4.3% | +4.0% | 0.0% | +2.5% | +3.3% | 0.0% | 0.0% |
| Return on net worth | +3.8% | +3.1% | 0.0% | +1.0% | +2.1% | 0.0% | 0.0% |
| Debt / equity | 0.07 | 0.09 | 0.15 | 0.18 | 0.13 | 0.37 | 1.16 |
| Long-term debt / equity | 0.04 | 0.06 | 0.08 | 0.09 | 0.06 | 0.05 | 0.08 |
| Interest cover | 30.34 | 47.56 | -79.43 | 80.14 | 119.50 | 254.64 | 174.36 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 6.34 | 5.97 | 5.71 | 5.49 | 5.34 | 3.97 | 4.52 |
| Inventory turnover | 15.39 | 24.41 | 30.85 | 39.58 | 31.35 | 22.83 | 23.63 |
| Debtors turnover | 2.48 | 3.00 | 3.58 | 3.62 | 3.93 | 3.47 | 3.62 |
| EPS (₹) | 1.03 | 0.70 | (0.89) | 0.35 | 1.77 | (0.57) | (0.55) |
| Dividend per share (₹) | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 39.47 | 22.28 | 18.71 | 19.61 | 83.16 | 81.23 | 29.90 |
To see the full year-wise statements and ratios of Black Box Limited, buy the company report.
Board of directors of Black Box Limited
Black Box has 7 current directors and 36 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Deepak Kumar Bansal Also directs: Fed On-Demand Technology Private Limited | Whole-Time Director | 14 Aug 2019 | 7 Years 2 Months | Current |
| Naresh Lakshman Singh Kothari Also directs: Alpha Alternatives Strategies LLP, Third Wind Advisors LLP, Ebony Advisors LLP and 5 more | Director | 17 Jan 2019 | 7 Years 9 Months | Current |
| Sanjeev Shekhar Verma | Whole-Time Director | 15 May 2014 | 12 Years 5 Months | Current |
| Dilip Jayantilal Thakkar Also directs: Jayantilal D Thakkar & Associates LLP, Jayantilal D Thakkar & Co LLP, Zodiac Clothing Company Limited and 5 more | Director | 08 Feb 2018 | 8 Years 8 Months | Current |
| Anshuman Shashikant Ruia Also directs: Greenline Mobility Solutions Limited | Director | 10 Sep 2020 | 6 Years 1 Months | Current |
| Neha Nagpal | Director | 10 Sep 2020 | 6 Years 1 Months | Current |
Auditor
Black Box Limited is audited by M/s. Walker Chandiok & Co. LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M/s. Walker Chandiok & Co. LLP | FY 2024 | 001076N/N500013 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 70.00%, foreign institutional investors hold 4.70%, domestic institutional investors hold 3.50% and retail and other public shareholders hold 21.80%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 70.00% | 70.00% | 70.10% | 70.20% |
| Public | 30.00% | 30.00% | 29.90% | 29.80% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 05 Jun 2026 | 101312824 | Others | ₹5.58 Cr | Open | |
| 13 Feb 2025 | 101050959 | Others | ₹50 Cr | Open | |
| 20 Nov 2001 | 90229724 | Yes Bank Limited | ₹250 Cr | Open | |
| 11 Apr 2014 | 10519275 | Yes Bank Limited | ₹45 Cr | Satisfied | |
| 23 May 2013 | 10436311 | Idbi Bank Limited | ₹40 Cr | Satisfied |
To see the full charge records of Black Box Limited, buy the company report.
Total charge records: 54 View all charges
Deals & funding
Black Box Limited has 37 deals on record (34 market trades, 2 funding rounds, 1 acquisition), with disclosed funding of ₹635 Cr; the latest was in November 2025.
Deals on record (5 of 37)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2024 | Market trade | ₹35.99 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jun 2024 | Market trade | ₹28.11 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Dec 2020 | Market trade | ₹19.1 Cr | Buyer: Ebony Advisors LLP Seller: Ncube Ventures LLP |
| Oct 2020 | Market trade | ₹13.68 Cr | Buyer: Citoc Investment Services LLP Seller: Citoc Ventures Private Limited |
| Feb 2020 | Market trade | ₹11.18 Cr | Buyer: Citoc Ventures Private Limited Seller: Silverleaf Oak Advisors LLP |
To see the full deal history of Black Box Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Black Box Limited has 49 court cases on record: 26 filed by Black Box, 23 filed against it. 6 cases are pending and 43 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 25 | 14 | 3 |
| District courts | 14 | 5 | 1 |
| NCLAT | 6 | 2 | 2 |
| Supreme Court | 4 | 2 | 0 |
Cases on record (5 of 49)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Court case (MFA) | Filed by the company against Nag Interiors Pvt. Ltd., | Pending |
| District court, BENGALURU, Karnataka | Execution petition | Filed against the company by Nag Interiors Pvt Ltd | Pending |
| NCLAT, NCLAT New Delhi | Court case (Contempt Case(AT)) | Filed by the company against Epc Constructions (India) Limited and 1 other | Disposed |
| Supreme Court | Court case (2810-Mercantile Laws, Commercial Transactions Including Banking : Bank Guarantee matters) | Filed by the company against Nag Interiors Private Limited Rep. by Managing Director Office at: No. 83 Nish A Enclave, II Floor, M.M. Road, Fraster Town , District: Bengaluru ,Bangalore , Karnataka | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Cases SS) | Filed by the company against Bench Mark Infotech Services Private Limited and 2 others | Disposed |
To see the full case history of Black Box Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Black Box Limited has 28 MSME Form 1 returns on record between 2015 and 2024, listing 750 overdue payments to 159 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 159)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| Keirestu Smart Pro Private Limited | |||
| an individual supplier | |||
| Genex Advent | |||
| HT Technologies Private Limited |
To see the full MSME payment records of Black Box Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Black Box has 2 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Black Box Network Services India Private Limited | U51101MH2013FTC242517 | |
| Copc (India) Pvt Limited | U74140HR2012FTC047227 |
To see the full group structure of Black Box Limited, buy the company report.
Employees & EPFO
Black Box Limited has a workforce of 353 employees on its EPFO records as of Jan 21, 2025, across 1 active EPFO establishment.
GST
Black Box has 19 GST registrations: 13 active and 6 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACT3992M1ZR | Maharashtra | Active | 01 Jul 2017 |
| 06AAACT3992M1ZV | Haryana | Active | 01 Jul 2017 |
| 07AAACT3992M2ZS | Delhi | Active | 01 Jul 2017 |
| 10AAACT3992M1Z6 | Bihar | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Black Box Limited, buy the company report.
Recent activity
Black Box Limited has 73 board changes on record since 1999: 40 appointments and 33 cessations. The latest: Sujay Rajababu Sheth ceased to be Director on 25 Sep 2024.
181 earlier events are in the company report.
News
Frequently asked questions
Black Box is an active public limited company based in Navi Mumbai, Maharashtra, India. The company works in telecom network support, within the telecom industry. It was incorporated on 19 August 1986 (40+ years old) and is registered under CIN L32200MH1986PLC040652. Listed on BSE: 500463 and NSE: BBOX.
Black Box reported revenue of ₹6,321.85 Cr for FY 2025-26 (up 5.9% YoY) based on consolidated financials.
Black Box has 7 current directors:
- Deepak Kumar Bansal - Whole-Time Director
- Sanjeev Shekhar Verma - Whole-Time Director
- Naresh Lakshman Singh Kothari - Director
- Dilip Jayantilal Thakkar - Director
- Anshuman Shashikant Ruia - Director
- Neha Nagpal - Director
- Munesh Narinder Khanna - Director
The latest financial statements of Black Box on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 16 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Black Box is 27AAACT3992M1ZR, registered in Maharashtra. The company has 19 GST registrations in all, of which 13 are active and 6 are cancelled or inactive. Other active GSTINs include 06AAACT3992M1ZV (Haryana), 07AAACT3992M2ZS (Delhi), 10AAACT3992M1Z6 (Bihar).
The CIN (Corporate Identification Number) of Black Box is L32200MH1986PLC040652. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Black Box is a listed company as per MCA records. Its shares are listed on both BSE (code: 500463) and NSE (symbol: BBOX).
Black Box has 49 court cases on record: 26 filed by the company and 23 filed against it. 6 are pending. Most are in the high courts.
Black Box was incorporated on 19 August 1986, making it 40+ years old. It is registered with the Registrar of Companies, Mumbai.
Black Box has 37 deals on record (34 market trades, 2 funding rounds, 1 acquisition), with disclosed funding of ₹635 Cr; the latest was in November 2025.
Sujay Rajababu Sheth ceased to be Director on 25 Sep 2024. Munesh Narinder Khanna was appointed as Director on 13 Aug 2024. Mahua Mukherjee ceased to be Director on 09 Nov 2023. Black Box has 73 board changes on record in total.

