| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 1,719 | 1,387 | +23.9% |
| EBITDA | 160 | 116 | +37.5% |
| EBITDA margin | 9.3% | 8.4% | +0.9 pts |
| Profit before tax | 61.1 | 45.2 | +35.2% |
| Net profit | 55.9 | 47.4 | +17.9% |
| EPS | ₹3.15 | ₹2.80 | +12.5% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 14,407 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 528 | 528 | 214 | 214 | 200 | ||
| 827 | 827 | 654 | 397 | 352 | ||
| 14,706 | — | — | — | — | ||
| 6,654 | 6,322 | 5,967 | 6,282 | 6,288 | ||
| — | +5.9% | −5.0% | −0.1% | — | ||
| 614 | 570 | 530 | 432 | 279 | ||
| 9.2% | 9.0% | 8.9% | 6.9% | 4.4% | ||
| 488 | 454 | 417 | 318 | 171 | ||
| 226 | 218 | 205 | 138 | 23.7 | ||
| 3.4% | 3.4% | 3.4% | 2.2% | 0.4% | ||
| ₹12.73 | ₹12.25 | ₹11.54 | ₹7.76 | ₹1.34 | ||
| — | +6.2% | +48.7% | +481.0% | — | ||
| — | 83.9 | −87.6 | 134 | 18.1 | ||
| — | −69.1 | −44.4 | −50.7 | −98.3 | ||
| 14.9 | 14.9 | −132 | 83.6 | −80.3 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 14,406.8 | |
| - Cash, Equiv & ST Investments | 199.9 | 214.1 | 213.8 | 527.6 | 527.6 | |
| + Total Debt | 352.0 | 397.3 | 653.7 | 827.0 | 827.0 | |
| Enterprise Value | — | — | — | — | 14,706.1 | |
| Revenue | 6,287.6 | 6,281.6 | 5,966.9 | 6,321.9 | 6,653.6 | |
| Growth %, YoY | — | -0.1 | -5.0 | +5.9 | — | |
| EBITDA | 278.9 | 432.5 | 529.8 | 570.0 | 613.7 | |
| Margin % | 4.44 | 6.88 | 8.88 | 9.02 | 9.22 | |
| EBIT | 171.4 | 318.1 | 416.5 | 453.7 | 488.3 | |
| Net Income | 23.7 | 137.7 | 204.8 | 217.5 | 226.0 | |
| Margin % | 0.38 | 2.19 | 3.43 | 3.44 | 3.40 | |
| EPS, Adj (current shares) | 1.34 | 7.76 | 11.54 | 12.25 | 12.73 | |
| Growth %, YoY | — | +481.0 | +48.7 | +6.2 | — | |
| Cash from Operations | 18.1 | 134.3 | -87.6 | 83.9 | — | |
| Capital Expenditures | -98.3 | -50.7 | -44.4 | -69.1 | — | |
| Free Cash Flow | -80.3 | 83.6 | -132.0 | 14.9 | 14.9 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Black Box (NSE: BBOX) had a market capitalisation of ₹14,584 crore at the 29 October 2026 close (₹821.15 a share), a PE ratio of 64.5 on the last four quarters' profit and a price-to-book ratio of 11.33. In FY26 its consolidated net profit was ₹218 crore on revenue of ₹6,322 crore; in Q1 FY27 (April–June 2026) it was ₹55.9 crore, up 17.9% year on year. Its debt-to-equity ratio was 0.64 on 31 March 2026. Promoters held 69.95% of the shares on 30 September 2026.
Black Box's PE ratio is 64.5 at the 29 October 2026 close (₹821.15 a share): a market capitalisation of ₹14,584 crore divided by consolidated net profit of ₹226 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹218 crore) it is 67.0. These four quarters include net exceptional items of −₹69.2 crore (one-off charges reported separately), so the ratio on recurring profit would differ.
Black Box's price-to-book (PB) ratio is 11.33 at the 29 October 2026 close: a market capitalisation of ₹14,584 crore divided by shareholders' equity (book value) of ₹1,287 crore on 31 March 2026. That is a book value of ₹72.46 per share against a share price of ₹821.15.
In FY26, Black Box's return on equity (ROE) was 21.3% and its return on capital employed (ROCE) was 21.4%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 33.0% and ROCE 28.4%.
Black Box's market capitalisation was ₹14,584 crore at the 29 October 2026 close: 17.76 crore shares at ₹821.15 each.
Black Box's basic earnings per share (EPS) were ₹12.78 in FY26, against ₹12.16 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹13.13.
In 2026, Black Box has declared one dividend: ₹1 with record date 28 August 2026.
No. Black Box had borrowings of ₹827 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.64. Its cash and current investments were ₹540 crore, so its net debt was ₹287 crore.
Black Box's debt-to-equity ratio was 0.64 on 31 March 2026: borrowings of ₹827 crore against total equity of ₹1,287 crore. A year earlier, on 31 March 2025, it was 0.86.
Black Box's dividend yield is 0.12% at the 29 October 2026 close: dividends of ₹1 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹821.15. They were ₹1 on 28 August 2026.
Black Box's net worth — shareholders' equity in its consolidated balance sheet — was ₹1,287 crore on 31 March 2026, up 69.6% from ₹759 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹14,584 crore at the 29 October 2026 close.
Black Box's book value per share was ₹72.46 on 31 March 2026: shareholders' equity of ₹1,287 crore divided by the 17.76 crore shares in issue, up 61.7% from ₹44.80 a year earlier. The share price at the 29 October 2026 close was ₹821.15.
In FY26, Black Box generated ₹83.9 crore of cash from operations and spent ₹69.1 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹14.9 crore. In FY25 it was −₹132 crore.
Promoters held 69.95% of Black Box on 30 September 2026, unchanged from the previous quarter and down 0.29 percentage points from 70.24% a year earlier, according to the shareholding pattern filed with NSE.
Black Box's latest results are for Q1 FY27 (April–June 2026), filed on 12 August 2026: consolidated net profit ₹55.9 crore, up 17.9% from ₹47.4 crore in Q1 FY26; revenue from operations ₹1,719 crore, up 23.9% year on year.
Black Box has not yet announced the date of its Q2 FY27 results (July–September 2026); under SEBI's listing rules (Regulation 33) they are due by 14 November 2026.
On 30 September 2026, Black Box's shares were held by promoters 69.95%, foreign portfolio investors (FII/FPI) 3.78%, domestic institutions (DII) 3.33% (including mutual funds at 3.32%) and retail and other non-institutional investors 22.81%. Over the year, FII holding was down 0.44 percentage points from 4.22% and DII holding was up 3.29 percentage points from 0.04%.
At the 29 October 2026 closing prices, on FY26 net profit, Black Box's PE ratio is 67.0, the third highest of the four: HFCL 119.5, Capillary Technologies India 78.9 and Aurionpro Solution 15.0, a peer average of 71.1. Each is the company's market capitalisation at that price divided by its FY26 net profit.
In FY26, Black Box earned net profit of ₹218 crore on revenue of ₹6,322 crore, against ₹312 crore on ₹4,949 crore for HFCL. Black Box's operating margin was 7.2% (HFCL 12.2%) and its return on equity 21.3% (HFCL 6.9%). At the 29 October 2026 close, Black Box's market capitalisation was ₹14,584 crore against ₹37,259 crore for HFCL, and its PE ratio on FY26 profit 67.0 against 119.5.
In FY26 (April 2025–March 2026), Black Box's consolidated net profit was ₹218 crore, up 6.2% from ₹205 crore in FY25, on revenue from operations of ₹6,322 crore (up 5.9%). Over three years, from FY23, net profit was up 817.9%.
On FY26 consolidated figures, against HFCL, Capillary Technologies India and Aurionpro Solution: Black Box's operating margin of 7.2% is the third highest of the four (HFCL 12.2%, Capillary Technologies India 2.4%, Aurionpro Solution 17.2%; peer average 10.6%); its return on equity of 21.3% is the highest of the four (HFCL 6.9%, Capillary Technologies India 5.1%, Aurionpro Solution 12.9%; peer average 8.3%).
From Black Box's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.