Mumbai, May 26, 2026
Black Box Limited (BSE: 500463 | NSE: BBOX), Essar’s technology arm and a leading provider of digital infrastructure solutions, on Tuesday announced its audited financial results for the quarter and year ended March 31, 2026.
The Company delivered steady progress across key financial and operational metrics during FY26, supported by improving profitability, stronger cash flows, and continued momentum in strategic deal wins. A healthier opportunity pipeline, improving business mix, and growing order backlog provide strong visibility for sustained growth and scalable expansion going forward.
During the quarter and throughout the year, Black Box continued to strengthen client relationships and deepen engagement across key accounts, resulting in consistent deal momentum and enhanced execution quality. The Company’s expanding order backlog further reinforces its improving business trajectory and long-term growth outlook.
Backed by a stable transformation foundation and a more focused commercial strategy, Black Box is witnessing increasing traction across its core business verticals, primarily data centre, while continuing to enhance operational efficiency and drive profitable growth.
Business Highlights:
Black Box continued to witness strong business momentum during Q4 FY26, driven by robust order inflows across key verticals and strategic markets. The Company closed FY26 with an order backlog of approximately $792 million (~Rs 7,000 crore), up 57 per cent YoY, providing strong revenue visibility and positioning the business for a solid start to FY27.
Black Box reported steady growth across key financial metrics in Q4 FY26, with Q4 FY26 revenue rising 9 per cent YoY to Rs 1,691 crore from Rs 1,545 crore in Q4 FY25 and EBITDA growing 12 per cent YoY to Rs 164 crore from Rs 147 crore in Q4 FY25. PAT increased 7 per cent YoY to Rs 65 crore from Rs 60 crore in Q4 FY25, reflecting improving operational efficiency and business quality.
During the quarter, Black Box secured new orders worth $377 million (~Rs 3,331 crore) compared to total order bookings of $626 million (approx. Rs 553 crore) during the first nine months of FY26, reflecting accelerating customer demand and improved deal conversion momentum.
Key order wins during the quarter included a $75 million (approx. Rs 663 crore) data centre services engagement from a leading US-based global hyperscaler, in addition to another $31 million (approx. Rs 277 crore) contract, and a multi-year strategic engagement worth over $90 million (approx. Rs 795 crore) with a major U.S. international airport.
The Company also secured multiple orders totalling approximately $19 million (approx. Rs 169 crore) from marquee US healthcare and pharmaceutical clients, a $7 million (approx. Rs 62 crore) engagement from a major retail chain, a $3.3 million (approx. Rs 29 crore) order from a travel company, a $2 million (approx. Rs 18 crore) order from a utility company, and a $2 million (approx. Rs 18 crore) engagement from one of the world’s largest chip manufacturers.
In India, the Company secured notable engagements totalling approximately $2.4 million (approx. Rs 21 crore) from a leading telecom operator for enterprise networking and connectivity solutions, and approximately $1.8 million (approx. Rs 16 crore) from a prominent PSU bank for networking solutions.
Additionally, Black Box achieved a strategic breakthrough with a new global hyperscaler during Q4 FY26 and is currently in advanced stages of commercial and contractual negotiations for potential future engagements.
Strategic & Financial Updates:
Reflecting confidence in the Company’s financial and operational performance, the Board has recommended a final dividend of 50 per cent (Rs 1 per equity share of face value Rs 2 each), subject to shareholder approval.
Further strengthening its global delivery and market capabilities, Black Box completed the acquisition of Brazil-based 2S Inovações Tecnológicas S.A., effective May 1, 2026.
With a legacy spanning more than 35 years in the Brazilian market, the acquisition significantly enhances Black Box’s presence across Latin America and strengthens capabilities in high-growth segments, including data centre networking, digital connectivity, cybersecurity, and managed infrastructure services. The acquisition is expected to contribute approximately Rs 500 crore in annualised revenue.
During the year, the Company further strengthened the balance sheet by successfully raising Rs 386.36 crore through the conversion of warrants issued on September 27, 2024. A total of 92,65,215 warrants were converted into equity shares at an issue price of Rs 417 per share, with all warrant holders fully exercising their rights.
The successful completion of the fundraise despite volatile market conditions during February and March 2026 reflects strong investor and promoter confidence in Black Box’s business fundamentals, strategic direction, and execution capabilities.
Promoters contributed Rs 200 crore, representing 51.76 per cent of the total capital infusion. Following the conversion, promoter shareholding is now at 69.99 per cent, underscoring continued long-term commitment and alignment with shareholder interests.
Sanjeev Verma, Executive Director & Chief Executive Officer, said, “Black Box is a direct beneficiary of the global AI-driven infrastructure boom, as enterprises and hyperscalers accelerate spending on next-generation networks, data centres, and connectivity.
In FY26, we crossed a landmark ~$1 billion in order bookings, underscoring the strength of our customer relationships and market position and giving us strong visibility into FY27 and beyond. With AI and enterprise modernisation investments accelerating, Black Box is well-positioned to capitalise on a multi-year growth opportunity, driven by disciplined execution and an unwavering focus on long-term shareholder value.”
Deepak Kumar Bansal, Executive Director and Global CFO, said, “FY26 was a year of disciplined execution and continued improvement in business quality for Black Box. We delivered steady growth in revenue, profitability, and margins, while further strengthening our operational and financial foundation globally.
With growing demand for digital infrastructure and AI-led enterprise transformation, we believe the industry is entering a multi-year investment cycle that presents significant long-term growth opportunities.
We remain focused on driving scalable growth with financial discipline, improving operational efficiencies, and strengthening cash flow generation to support sustainable value creation over the long term.”(Agency)
FOLLOW NOW
