Black Box Ltd — earnings calls

Black Box reported its highest ever quarterly revenue of INR1,719 crores for Q1 FY27, up 24% year-on-year, with EBITDA rising 38% to INR160 crores and profit after tax growing 18% to INR56 crores. Order bookings for the quarter were US$339 million, taking the order backlog to a record approximately US$950 million, up 83% year-on-year. Management gave FY27 guidance for revenue of INR7,800-8,000 crores, EBITDA of INR725-750 crores, and PAT of INR300-325 crores, and reiterated its FY30 aspiration of an INR18,000 crores or US$2 billion revenue company.

Black Box management outlined a strategic plan to grow revenue to INR12,000 crores organically and INR18,000 crores (about $2 billion) including inorganic growth by FY30, up from roughly INR6,000 crores in FY26. Management described a three-phase transformation completed since 2019 that expanded EBITDA margin from 4.3% to 9% and grew the order backlog to approximately $800 million. Executives across data center, enterprise (GSI), technology products (TPS), and India businesses presented growth targets, and fielded analyst questions on margins, funding, contract structures, and working capital.