Black Box Limited, originally incorporated as Avaya GlobalConnect Limited in August 1986, has evolved into a comprehensive information and communications technology solutions provider and integrator operating across multiple geographies including the Middle East, Africa, North America, Australia, New Zealand, Singapore, Philippines, and UK, servicing over 8,000 customers. The company was formerly known as AGC Networks Limited and changed its name to Black Box Limited in November 2021.
Black Box is a global leader in digital infrastructure solutions, delivering network and system integration, managed services, and technology products to Fortune 100 and top global enterprises across the United States, Europe, India, Asia Pacific, the Middle East, and Latin America, serving businesses across financial services, technology, healthcare, retail, public services, and manufacturing.
Black Box's offerings span five key areas: Connectivity Infrastructure, Data Center Solutions, Modern Workplace, Enterprise Networking, and Cybersecurity. The company operates predominantly through System Integration (86% of business in FY24), which includes Unified Communication, Data Center & Edge IT, Cyber Security, Digital Solutions & Applications, and Seamless Customer Support and managed services.
Supported by a global team of around 3,600 professionals and strategic partnerships with leading technology providers, Black Box delivers end-to-end solutions in network integration, digital connectivity infrastructure, data center buildouts, modern workplace solutions, and cybersecurity. Its Technology Products portfolio enhances business operations with cutting-edge solutions in AV, IoT, KVM, Networking, Infrastructure, and Cables.
Black Box reported revenue of ₹5,967 Crore in FY25 compared to ₹6,282 Crore in FY24, with revenue moderation due to delayed customer decision-making and strategic exit from low-margin accounts. The company achieved strong FY25 results with 48% PAT growth and announced a $2 Billion revenue target by FY29.
Key financial highlights for FY25:
- Revenue: ₹5,967 Crore
- Profit: ₹205 Crore
- Q4 FY25 net profit surged 48% to ₹60.47 Crore as of March 2025, with revenue of ₹1,544.58 Crore.
- The board recommended a final dividend of 50%.
The company secured over ₹1,500 Crore in new contracts, boosting its order backlog to $504 million. Black Box announced its best-ever quarterly performance for FY25, achieving order wins totaling ₹1,550 Crore in Q4.
Notable contract wins include:
- A landmark ₹240 Crore order for large-scale infrastructure modernization with one of the United States' largest hospital networks.
- Over ₹225 Crore in data center service contracts with major global hyperscalers.
- Over ₹130 Crore in new orders for airport modernization projects.
- ₹90 Crore contract with a leading U.S.-based university.
Black Box Limited has a market capitalization of ₹9,136 Crore as of latest data, with the market cap being ₹8,897.17 Crore as of July 1, 2025. The stock hit a record high of ₹715.8 on December 9, 2024, while the 52-week high stands at ₹714.80 and the 52-week low at ₹320.85.
The company maintains strong fundamentals with:
- P/E ratio of 43.45.
- P/B ratio of 18.50.
- Dividend yield of 0.19.
- Promoter holding of 70.5%.
Black Box plans to invest ₹100 Crore to expand its presence in India, targeting to double its workforce and focusing on key sectors like public infrastructure and AI adoption, with plans to double its India revenue in the next three to four years. The company has allocated over 25% of ₹400 Crore raised for domestic expansion, emphasizing public-sector digitization and cybersecurity services.
The company continues to see increasing demand for value-added services across digital infrastructure, driven by growth of AI data, hybrid productivity needs, and ongoing cyber threats, with tremendous growth opportunities as the world moves towards further digitization, automation, and connectivity.
Black Box Limited belongs to the Information Technology sector and Software Services sub-sector. The company is well-positioned to capitalize on emerging opportunities in automation, AI, 5G, and IoT, with a presence in over 35 countries and a vast, untapped addressable market.
Management has initiated a strategic transformation of the Global Solutions Integration business, focusing on developing a customer-centric go-to-market strategy, creating industry-specific solutions, and delivering exceptional service quality through teams organized around industry-specific verticals and practice-led solutions.
