Black Box Ltd (Data Centre) — fundamental analysis, earnings data, and key metrics. PE: 32.7. ROE: 44.2%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Mar 14, 2026
What: Execution of $800M order backlog (up from $700M estimate) expected to drive mid-double-digit revenue growth in FY27
Impact: +₹400 Cr revenue
“Management stated: 'Based on the current order flow trajectory, we expect to significantly exceed our earlier backlog target of 700 million and cross 800 million by end of March 2026.'”
What: 2S acquisition combined with organic growth targeting 30-35% CAGR toward $2B revenue by FY29
“Management stated: 'The company projects that the combination of organic pipeline growth and the 2S acquisition provides a clear path toward a CAGR of 30% to 35% (including inorganic) to achieve the $2 billion aspiration.'”
What: Disciplined cost management and product mix optimization expected to drive margin expansion beyond current 8.9%
“Management stated: 'There remains further potential for incremental margin expansion as strategic priorities continue to execute in the quarters ahead.'”
Earnings deceleration risks from management commentary
Trigger: Continued input shortages
Impact: -100 bps margin impact
Management view: Management acknowledged: 'Execution timelines have been extended due to industry-wide shortages of inputs like optical fibers and cables, particularly in the booming data center ecosystem.'
Monitor: Quarterly revenue execution vs guidance
Trigger: Prolonged customer delays
Management view: Management noted: 'Approximately 40 to 45 million relates to revenue that was initially expected to be recognized in FI26 but has shifted due to temporary customer level delays and supply chain constraints.'
Monitor: Backlog conversion rate
Key quotes from recent conference calls
“Based on the current order flow trajectory, we expect to significantly exceed our earlier backlog target of 700 million and cross 800 million by end of March 2026. — Sanji”
“Looking ahead, we will continue focus on disciplined cost management, pricing discipline and continuously optimizing our product mix with ongoing operational efficiency and cost optimization initiatives. There remains further potential for incremental margin expansion as strategic priorities continue to execute in the quarters ahead. — Deepak Bansil”
“Therefore, we have revised revenue guidance from the expected range of INR 6750 to 7,000 crores to now INR 63 325 to INR 6375 crores. The revision revenue reflects a data of INR 555 to 575 crores and a PAT of 220 to 230 crores in FY26. — Deepak Bansil”
“The company projects that the combination of organic pipeline growth and the 2S acquisition provides a clear path toward a CAGR of 30% to 35% (including inorganic) to achieve the $2 billion aspiration. — Management”
Forward-looking targets from management for FY27-FY29
Revenue Growth Target
12%
Implied PAT Growth
15%
OPM Guidance
9.5%
Key Milestones
• $800M backlog by Mar 2026
• $2B revenue by FY29
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Mar 14, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Black Box Ltd's latest quarterly results (Dec 2025) show
Black Box Ltd's current PE ratio is 32.7x.
Black Box Ltd's price-to-book ratio is 9.5x.
Black Box Ltd's fundamental strength based on key financial ratios
Black Box Ltd has a debt-to-equity ratio of N/A.
Black Box Ltd's return ratios over recent years
Black Box Ltd's operating cash flow is negative (FY2025).
Black Box Ltd's current dividend yield is 0.20%.
Black Box Ltd's shareholding pattern (Dec 2025)
Black Box Ltd's promoter holding has decreased recently.
Black Box Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Black Box Ltd has 3 key growth catalysts identified from recent earnings analysis
Black Box Ltd has 2 key risks worth monitoring
In Q3 FY26, Black Box Ltd's management highlighted
Black Box Ltd's management has provided the following forward guidance for FY27-FY29
Based on quantitative research signals, here is why Black Box Ltd may be worth studying
Black Box Ltd investment thesis summary:
Black Box Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
