āagman

Not investment advice. Data and computed figures, for information only.

Black Box Ltd

NSE: BBOX
₹880.20
−₹55.60 (−5.94%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹15,844 Cr
CMP
₹880.20
52-wk High / Low
₹1,103 / 444
P/E
55.5
P/B
12.3
Book Value
₹72.5
Div Yield
0.11%
ROCE
22.0%
ROE
25.7%
Face Value
₹2
D/E
0.90

Price+53.0% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
2
/ 9
2 of 9 F-score tests passed
Graham Number
₹141
√(22.5 × EPS × book value per share)
ROIC
16.5%
vs 13.5% sector median
Cash flow to profit
0.39
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+95
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
24.1%
ROE × earnings retention ratio
ROE stability
8.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.04FII +1.43DII +0.42
Latest quarter vs the previous one
Cash-accrual divergence
3.6%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.2x)
Watch-outs
−Borrowings are up 551.4% since FY2016 (177 to 1153)
−Annualised volatility of 45.7% is in the high band (≥45%)
−Promoter holding fell by 1.2pp over the last year
−Piotroski F-Score of 2/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,5711,5741,6551,4801,4231,4971,5021,5451,3871,5851,6601,6911,718
Expenses1,4841,4761,5411,3551,3091,3651,3681,4021,2711,4421,5131,5271,559
Operating Profit8799114125115133134143116143147164160
OPM %5.5%6.3%6.9%8.4%8.1%8.9%8.9%9.3%8.4%9.0%8.9%9.7%9.3%
Other Income−2−52−8−14−17−12−10−11−13−21−12−15
Interest33323640343231473439404548
Depreciation28292829262831282729303136
Profit before tax24335247405559584561577661
Net Profit24324141375156604756506556
EPS (₹)1.431.902.432.432.213.043.313.572.793.272.923.653.15

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8918817807331,8534,9944,6745,3706,2886,2825,9676,3226,654
Expenses8678767477001,8064,6664,3105,1126,0145,8555,4295,7656,040
Operating Profit246323347328364258273426538557614
OPM %2.7%0.7%4.1%4.5%2.5%6.6%7.8%4.8%4.3%6.8%9.0%8.8%9.2%
Other Income3871319−67−178−750−25−14−68−44−61
Interest26272625451329874111141145158172
Depreciation1887815929699107114113116125
Profit before tax18−221319−79−73968629156212239255
Net Profit15−351015−79−80787324138205218226
EPS (₹)1.04−2.430.731.05−5.30−5.384.804.431.418.1912.0912.2512.99

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital282828283030333334343436—
Reserves58254147−11−2061742282624477251,251—
Borrowings1611771731588085963284816287129421,153—
Other Liabilities3853933463461,6051,8861,7681,9112,0781,6071,3711,854—
Total Liabilities6336235895802,4322,3062,3032,6523,0022,8003,0724,294—
Fixed Assets90109111114399557622732794808769883—
CWIP000000002000—
Investments000000003032330—
Other Assets5435144784672,0321,7491,6811,9202,1751,9602,2713,410—
Total Assets6336235895802,4322,3062,3032,6523,0022,8003,0724,294—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2829452−721,1373039513129−8884
Cash from Investing Activity77−21−4−5−360−38215−108−5640−10533
Cash from Financing Activity−100−10−11−54629−645−277−43−58−155192197
Net Cash Flow5−2−10−719711041−55−102140314

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %4.01.012.013.07.039.058.026.020.031.030.022.0
ROE %———————————25.7
EPS (₹)1.04−2.430.731.05−5.30−5.384.804.431.418.1912.0912.25
Book Value (₹)———————————72.5
Face Value (₹)———————————2
P/E———————————55.5
Div Yield %———————————0.11
NPM %1.6−3.91.32.0−4.4−1.71.71.40.42.23.53.5
OPM %2.70.74.24.52.57.08.04.84.37.09.09.0
D/E1.873.342.512.1142.53—1.581.842.121.481.240.90
P/B———————————12.3

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+22.0%
5 years+6.0%
3 years+0.0%
TTM+12.0%
Compounded profit growth
10 years+25.0%
5 years+13.0%
3 years+80.0%
TTM+4.0%
Stock price CAGR
10 years+50.0%
5 years+34.0%
3 years+61.0%
Last year+55.0%
Return on equity
5 years32.0%
3 years35.0%
Last year26.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75.00%75.00%74.90%64.28%69.10%71.18%70.56%71.14%71.09%70.53%69.99%69.95%
FIIs7.14%7.14%7.54%5.71%6.05%5.96%5.69%5.58%4.81%4.70%3.26%4.69%
DIIs0.04%0.04%0.04%6.62%0.02%0.02%0.01%0.01%0.01%0.03%2.99%3.41%
Government1.15%1.15%1.15%1.46%1.12%0.58%0.13%0.13%0.13%0.13%0.12%0.12%
Public16.67%16.67%16.37%21.93%23.71%22.26%23.60%23.15%23.97%24.61%23.62%21.82%
No. of shareholders9,7919,7919,1068,4027,6377,48810,59314,28316,64764,21073,63872,559
Change since Jun 2023 (pp)
Promoters −5.05FIIs −2.45DIIs +3.37Public +5.15

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Closure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAnnouncement under Regulation 30 (LODR)-Newspaper PublicationShareholder Meeting / Postal Ballot-Scrutinizer''s Report
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJun 2026TranscriptJun 2026PPTJun 2026RecordingMay 2026PPTFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTNov 2025Recording

Corporate actions

As of 28 Aug 2026
28 Aug 2026DIVIDENDDividend - Re 1 Per Share—
29 Aug 2025DIVIDENDDividend - Re 1 Per Share—
13 May 2022SPLITFace Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share10 : 2
19 Dec 2012BONUSBonus 1:1—
16 Jul 2012DIVIDENDAnnual General Meeting/Dividend Rs 15 Per Share—
8 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.2.25 Per Share—
29 Nov 2010DIVIDENDAnnual General Meeting And Dividend Rs.4.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman