AnnualReportAI — Business Intelligence
Financial & Valuation Intelligence™

Black Box Limited

NSE
BBOX
Sector: Information Technology· IT Enabled Services
Current Price
₹819.2
Market Cap
₹14.22K Cr
AI Financial Summary

Black Box Limited exhibits strong long-term revenue and profit growth, though recent free cash flow performance has been negative. The company maintains a mid-cap market position in IT Enabled Services with reasonable business and financial quality scores. Valuation metrics suggest the company is trading at a premium, despite an intrinsic value calculation indicating a potential margin of safety. Management's capital allocation strategies will be key to converting revenue growth into sustained shareholder value.

Business Performance (CAGR)

10 Years
Revenue
26.2%
PAT
54.5%
EPS
49.7%
Book Value
40.0%
Free Cash Flow
-56.7%

Valuation Snapshot

P/E36.5
P/B6.2
EV/EBITDA26.6
P/S2.2
Div Yield0.12%

Financial Health

Debt to Equity0.9
Interest Coverage2.5x
Current Ratio1.09
Cash & Investments₹540 Cr

Profitability Metrics

ROE
16.9%
ROCE
16.3%
ROA
5.1%
EBITDA Mgn
8.8%
Op Margin
6.3%
Net Margin
3.4%

Cash Flow Intelligence

Operating Cash Flow₹84 Cr
Free Cash Flow₹-147 Cr
Cash Conversion38.6%
FCF Margin-2.3%

Intrinsic Value

Premium
Estimated Intrinsic Value
████████
Current Price₹819.2
Margin of Safety██.██%
Unlock with Premium

Estimated Intrinsic Value & DCF Fair Value are available with Premium plans.

AI Business Verdict

Black Box Limited presents a profile of high growth in revenue and earnings, supported by good business and financial fundamentals. However, the consistent negative free cash flow and moderate profit margins are critical areas for management focus. The current valuation reflects growth expectations, but sustained shareholder value will depend on the company's ability to convert its impressive top-line and earnings growth into positive and growing free cash flow.

  • Robust revenue and net profit growth rates over the long term.
  • Healthy growth in Earnings Per Share and Book Value per share.
  • Solid business quality and financial strength scores.
  • Adequate current ratio indicates short-term liquidity.

Balance Sheet

AI-Powered Analysis
Balance Sheet Strength™
62/100
Good

Black Box Limited maintains a balanced sheet with adequate liquidity and manageable leverage.

AI Confidence
92%
Stability
55
Flexibility
58
Strength Factors
Liquidity53
Leverage68
Working Capital68
Asset Quality32
Shareholder Strength100
Financial Stability55
Financial Flexibility™
58/100
Adequate

Capacity to fund growth, withstand downturns and return capital.

Total Assets
₹4.29K Cr
▲ 33.5% YoY
Total Liabilities
₹3.01K Cr
▲ 22.4% YoY
Shareholder Equity
₹1.29K Cr
▲ 69.6% YoY
Net Cash Position
₹-613 Cr
Monitor
Debt / Equity
0.90x
Manageable
Enterprise Value
₹14.84K Cr
Capital Structure
Assets
₹4.29K Cr
Equity
₹1.29K Cr (30.0%)
Liabilities
₹3.01K Cr (70.0%)
Debt Intelligence™
Debt vs Cash Trend
Debt / Equity0.90x
Interest Coverage2.5x
Debt / EBITDA5.30x
Net Debt₹613 Cr
Debt Trend (5Y)46.1%
Debt MaturityWell Staggered
Liquidity Intelligence™
Current Ratio1.09
Quick Ratio0.91
Cash Ratio0.18
Working Capital₹163 Cr
Operating Cash CoverageAdequate
Short-term LiquidityAdequate
Working Capital Intelligence™
CCC Trend
Receivable Days67
Inventory Days19
Payable DaysNot Available
Cash Conversion Cycle85 days
Asset Quality (% of Total Assets)
Cash & Investments12.6%
Property, Plant & Equip.20.6%
ReceivablesNot Available
InventoryNot Available
GoodwillNot Available
Intangible AssetsNot Available
Other Assets79.4%
Shareholder Strength™
Strength Radar
Book Value CAGR (5Y)40.0%
Net Worth CAGR (5Y)43.9%
Retained EarningsExcellent
Equity Dilution0.00%
Buyback EfficiencyAdequate
Dividend Sustain.Strong
Balance Sheet Evolution
Annual
Balance Sheet Risk Monitor
Debt RiskModerate
Liquidity RiskElevated
Working Capital RiskModerate
Refinancing RiskModerate
Asset Quality RiskHigh
Dilution RiskLow
Contingent LiabilityLow
Overall Balance Sheet RiskElevated
Balance Sheet Stress Test™
Economic Slowdown43
Acquisition Capacity61
High Interest Rates62
Dividend Sustainability79
Revenue Decline55
Cash Flow Resilience57
Expansion Capacity75
Overall Resilience Score
62/100
Adequate Resilience
AI Balance Sheet Commentary
Overall Assessment
  • Black Box Limited maintains a balanced sheet with adequate liquidity and manageable leverage.
What Stands Out
  • Strong shareholder equity growth
Areas To Monitor
  • Thin interest coverage — cyclical earnings risk
  • Tight short-term liquidity cushion
  • Large 'other assets' bucket — investigate composition
Financial data based on consolidated numbers and TTM · Source: Company Filings, Annual Report AI Analysis · Data as of: 31/03/2026