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Black Box Ltd (BBOX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500463 NSE: BBOX Telecommunication - Equipment | Small Cap | Black Box Share Price

₹1,090.95 12.70 (1.18%)

As on 05-Jun'26 10:47

Black Box Ltd (BBOX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500463 NSE: BBOX Telecommunication - Equipment | Small Cap | Black Box Share Price

₹1,090.95 12.70 (1.18%)

As on 05-Jun'26 10:47

Key Metrics
Valuation Multiples
Market Cap
₹19,150 Cr.
Current Price
₹1,091
52-Week Low / High
₹438 / 1,082
TTM EPS
₹1
TTM Sales
₹406 Cr.
Book Value per Share
₹39.5
P/E Ratio
1050.45
Higher than its 5-year historical median
Industry PE
132.8
Price to Book (P/B)
27.30
Higher than its 5-year historical median
Price to Sales (P/S)
47.17
Higher than its 5-year historical median
EV/EBITDA
502.06
Higher than its 5-year historical median
Dividend Yield
0.28%
Profitability Efficiency
Return on Equity (ROE)
3.45%
Outperforms industry median
Return on Capital Employed (ROCE)
4.38%
Outperforms industry median
Return on Assets (ROA)
2.09%
Operating Profit Margin
5.2%
Net Profit Margin
3.15%
Gross Profit Margin
5.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-2.53%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
70.49%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹666 Cr.
Equity
₹35.5 Cr.
Face Value
₹2
All Time Low / High
₹2.52 / 1068.95

Black Box stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Black Box Ltd a good quality company?
Black Box Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Black Box Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Black Box Ltd vs industry peers?
Black Box Ltd revenue CAGR is 4.03%, compared to the industry median CAGR of 12.15%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Black Box Ltd?
Promoters hold 70.49% of the Black Box Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Black Box Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 53.1% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Black Box Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -5.5%2.7%27.3%9.3%9%6.4%3.8%4.1%1.6%4.4%-
Value Creation
Index
-1.4-0.81.0-0.3-0.4-0.6-0.7-0.7-0.9-0.7-

Growth Parameters

Sales 313246303307309250294363387377406
Sales YoY Gr.--21.5%23.4%1.1%0.8%-19.3%17.7%23.8%6.4%-2.5%-
Adj EPS -2.7-1.12.1-0-0.1-0.10.40.3-0.90.71
YoY Gr.-NANA-101%NANANA-30%-432.1%NA-
BVPS (₹) 42.74.96.15.816.116.619.518.622.239.5
Adj Net
Profit
-38.1-16.229.2-0.3-1.6-2.36.64.7-15.611.418
Cash Flow from Ops. -6.714.133.558.123.622.715.314.622.7-24.3-
Debt/CF from Ops. -20.59.63.51.740.71.51.70.5-0.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 2.1%4%8.7%-2.5%
Adj EPS NANA18.8%NA
BVPS21%30.7%10.2%19.2%
Share Price 56.7% 31.8% 100.1% 94.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-42.2-26.843.3-0.4-1.7-1.32.31.5-4.82.93.3
Op. Profit
Mgn %
-5.1-2.99.52.85.95.33.74.5-0.15.27.5
Net Profit
Mgn %
-12.2-6.69.6-0.1-0.5-0.92.21.3-434.5
Debt to
Equity
1.92.81.41.11.10.10.10.1000
Working Cap
Days
596510326335322350276239216248164
Cash Conv.
Cycle
-26-390-8-33-78-65-44-38-43100

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales313246303307309250294363387377
Operating Expenses + 329253274298291237283347387357
Manufacturing Costs10966645444
Material Costs1509311812112069118161164173
Employee Cost 46444645363238455742
Other Costs 124107104127129132122138162139
Operating Profit -16-729818121116-119
Operating Profit Margin (%) -5.1%-3.0%9.5%2.7%5.8%4.8%3.7%4.5%-0.1%5.2%
Other Income + 76566874146
Exceptional Items 21021600-2000
Interest 2422211719176875
Depreciation 5222754788
Profit Before Tax -37-16321-2-266-112
Tax 0000000-0140
Profit After Tax -37-16321-2-266-1512
PAT Margin (%) -11.7%-6.6%10.5%0.4%-0.5%-0.8%2.0%1.6%-3.9%3.2%
Adjusted EPS (₹)-2.6-1.12.20.1-0.1-0.10.40.4-0.90.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%142.60%

Valuation of Black Box - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 7248849087263272328313376
Share Capital 43384330303333343434
Reserves 2810416157230239294280342
Debt +1381341179894162324128
Long Term Debt0000000100
Short Term Debt1381341179894162323117
Minority Interest0000000000
Trade Payables9366657363628810296133
Others Liabilities 1947873849389746655146
Total Liabilities 497327339345337430456520475662

Fixed Assets

Net Fixed Assets +121198241133343126
Gross Block64646457804664686759
Accumulated Depreciation52535549563531353633
CWIP 0000000200
Investments 4949494949194194234234306
Inventories1412221610127111417
Trade Receivables104761049477678211997154
Cash Equivalents 124233621028
Others Assets 30617515317417413913711999131
Total Assets 497327339345337430456520475662

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -71433582423151523-24
PBT -37-16321-2-266-112
Adjustment 249-71027241122811
Changes in Working Capital 1124-6517-25-8-19-5-49
Tax Paid -5-215-4-92576212
Cash Flow From Investing Activity + 3354-224-119-4-46-2-76
Capex -5-2-0-0-01-5-6-3-0
Net Investments 052-10-1001-4
Others 3822-204-1190-39-0-72
Cash Flow From Financing Activity + -23-22-37-36-2799-1431-21122
Net Proceeds from Shares 0000011620051
Net Proceeds from Borrowing 00000001-0-0
Interest Paid -24-20-20-17-15-16-2-6-7-5
Dividend Paid 0000000000
Others 1-2-17-19-12-1-1436-1477
Net Cash Flow 3-4-0-003-3-0022

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-48.85-34.0158.451.47-1.84-1.062.171.95-4.673.45
ROCE (%)-5.542.727.269.319.036.373.834.091.644.38
Asset Turnover Ratio0.540.60.910.90.910.650.660.740.780.66
PAT to CFO Conversion(x)N/AN/A1.0358N/AN/A2.52.5N/A-2
Working Capital Days
Receivable Days132.50133.90108.30117.50100.90105.3092.80101101.90121.80
Inventory Days18.501920.602315.401611.609.2011.8015
Payable Days250.10312202207.40206.30329.10232.20215.70220.10241.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *8.938.938.938.930.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Black Box Ltd FAQs

The current trading price of Black Box on 05-Jun-2026 10:47 is ₹1,091.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Black Box stood at ₹19,149.6 Cr

The latest P/E ratio of Black Box as of 04-Jun-2026 is 1,050.5.

The latest P/B ratio of Black Box as of 04-Jun-2026 is 27.30.

The 52-week high of Black Box is ₹1,082.1 and the 52-week low is ₹438.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Black Box is ₹406 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Black Box Ltd is a average quality company.

The key valuation ratios of Black Box Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Black Box Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Black Box Ltd

Avaya GlobalConnect Ltd. formerly Tata Telecom was incorporated on August 19, 1986 at Mumbai. The company was promoted by Tata Industries Ltd. (TIL). It is one of India’s leading providers of enterprise communications solutions, offering converged communication solutions, contact center solutions, and unified messaging systems for enterprises. Already a market leader in contact center solutions with more than 50% market share, Avaya GlobalConnect Ltd. plans to become India’s leading provider of converged communications business solutions for enterprises. With 35 service centers spread around the country, the company provides solutions to some 6,000 customers, employs over 500 associates, and generates $87 million in annual revenues.

Avaya GlobalConnect is India’s leading intelligent communications solution provider delivering business solutions that help organizations accelerate revenue growth, increase market penetration, optimize operating costs and improve employee productivity, by embedding communication in their business processes.

Avaya GlobalConnect is a subsidiary of Avaya Inc., a global leader in business communications. More than one million businesses worldwide including 90 percent of the FORTUNE 500® use Avaya solutions for IP Telephony, Unified Communications (UC), and Contact Centers (CC).

In October of 2001, Tata Telecom, now Avaya GlobalConnect, signed on with SAP. By July of 2002, the company had its ERP system up and running. mySAP CRM capabilities for presales and lead management came online between October 2002 and March 2003.

Business area of the company:

Products offered by Avaya:

  • Avaya Communication Servers & Gateways - The Avaya IP600 Internet Protocol Communications Server delivers reliability and full-feature functionality to the customer's entire enterprise, by combining voice, fax/messaging, data, and Internet traffic - onto a powerful IP network.
  • Avaya Communication Manager- Communication Manager delivers on the promise of IP by offering a no compromise approach to convergence in terms of reliability and functionality. Designed to run on a variety of Media Servers, Communication Manager provides centralized call control.   
  • Digital Phones- With their sleek, global styling and user interface, and availability in white or gray, these telephones look great in any location. There are a variety of 6400 Series models that can meet customers' specific requirements and deliver exceptional benefits to their business. 
  • Unified Access
  • Conferencing and collaboration
  • Messaging- Messaging provides a single point of access to all message types - voice mails, electronic mails or faxes, from virtually any communication device. Video Conferencing & Applications

The company provides Solutions for:

  • Hospitality
  • Insurance
  • Banking
  • Mutual Fund
  • Securities
  • SME Solutions

Awards/Achievements:

  • Avaya Unified Communications Solutions have been certified as Green solutions by Meircom, an independent product testing organization. In its report of November 2008, Miercom says “Based on our hands-on testing and verified representations made by Avaya, Miercom confirmed that the Avaya solution is designed to provide an effective and environmentally sound communications solution”.
  • Avaya GlobalConnect has been recognized as the “Best Enterprise Solution Provider Company” at the INFOCOM CMAI National Telecom Awards 2009
  • Avaya GlobalConnect won the Best Employer award at Sunday Indian Mega Excellence Awards 2009
  • Avaya GlobalConnect has once again won the Frost & Sullivan Market Leadership Award for Enterprise Telephony as well as Contact Center Applications for the year 2008.  This is Avaya GlobalConnect’s seventh consecutive win.
  • Avaya GlobalConnect has been awarded the best UC  solutions company by VAR India for 2008
  • Miercom and Nemertes Research, recognized Avaya UC enterprise solutions for providing top-line qualities. The awards were presented at VoiceCon, San Francisco 2008.
  • In India, Avaya GlobalConnect is the undisputed market leader as per IDC’s India Unified Communications Market Program.
  • Avaya GlobalConnect awarded the best Unified Communications solutions company by VAR India.
  • Avaya GlobalConnect wins VARIndia Brand of  Excellence Award 2008
  • Frost & Sullivan’s India ICT Awards
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About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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