Black Box Ltd.
•₹ 775.653.21%
2026-08-21
PROS
- Company has a healthy return on capital (ROCE) of 31.3%
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.6%
- Company has consistently been profitable over the last 5 years
- Operating margins have improved to 9.0% from 5.2%
- Company generates healthy free cash flow
- Institutional investors have been accumulating - FII+DII up 4.0pp
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.15x)
- Working capital days have increased from 15 to 47 days
- Total debt has risen sharply - up 64.5% year on year
- Effective tax rate is unusually low at 3.3% - earnings may be flattered
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ITI | 280.45 | 102.39 | 26948.07 | 0.00 | -32.25 | 49.30 | 425.03 | -14.65 | 0.28 | 0.48 |
| 2. | SEDEMAC | 3223.20 | 0.00 | 14237.04 | 0.00 | 333.10 | — | 3097.70 | — | 37.22 | 19.10 |
| 3. | BBOX | 766.75 | 60.25 | 13617.42 | 0.13 | 55.92 | 17.90 | 1718.50 | 23.92 | 31.13 | 8.67 |
| 4. | TEJASNET | 509.45 | 0.00 | 9066.88 | 0.00 | -202.24 | -4.32 | 402.16 | 99.11 | -14.93 | -24.96 |
| 5. | KRONECOMM | 2420.00 | 0.00 | 1113.20 | 1.03 | 8.58 | 72.64 | 63.41 | 40.79 | 31.44 | 17.09 |
| 6. | KAVDEFENCE | 56.85 | 0.00 | 341.81 | 0.00 | -12.11 | -1223.38 | 14.43 | 269.05 | 8.44 | -103.12 |
| 7. | PUNJCOMMU | 50.77 | 0.00 | 61.04 | 0.00 | 2.87 | 718.86 | 5.83 | -12.56 | -0.52 | 13.75 |
| 8. | SHYAMTEL | 13.65 | 0.00 | 15.38 | 0.00 | -19.94 | -405.32 | 0.00 | — | 0.00 | — |
| 9. | UNIINFO | 11.29 | 0.00 | 12.07 | 0.00 | 0.14 | 440.00 | 8.36 | -1.42 | -0.99 | 5.29 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,571 | 1,574 | 1,655 | 1,480 | 1,423 | 1,497 | 1,502 | 1,545 | 1,387 | 1,585 | 1,660 | 1,691 | 1,718 | |
| 1,484 | 1,476 | 1,542 | 1,356 | 1,309 | 1,365 | 1,368 | 1,402 | 1,282 | 1,441 | 1,513 | 1,534 | 1,653 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 5 | 8 | 11 | 1 | 1 | 1 | 1 | 6 | 13 | 1 | 1 | 9 | 15 |
| Interest | 33 | 32 | 36 | 40 | 34 | 32 | 31 | 47 | 34 | 39 | 40 | 45 | 48 |
| Depreciation | 28 | 29 | 28 | 29 | 26 | 28 | 31 | 28 | 27 | 29 | 30 | 31 | 36 |
| 24 | 32 | 51 | 47 | 40 | 55 | 59 | 57 | 45 | 61 | 57 | 76 | 61 | |
| Tax % | 1.88% | 4.46% | 21.06% | 12.88% | 7.95% | 6.30% | 5.33% | -4.68% | -4.93% | 8.81% | 12.49% | 14.95% | 8.52% |
| Net Profit | 0 | 0 | 0 | 0 | 37 | 51 | 56 | 60 | 47 | 56 | 50 | 65 | 56 |
| 1 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 0 | |
| Equity Capital | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 36 | 36 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 34 | 36 | 36 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 1,571
- 1,484
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 33
- Depreciation
- 28
- 24
- Tax %
- 1.88%
- Net Profit
- 0
- 1
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 1,574
- 1,476
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 32
- Depreciation
- 29
- 32
- Tax %
- 4.46%
- Net Profit
- 0
- 2
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 1,655
- 1,542
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 36
- Depreciation
- 28
- 51
- Tax %
- 21.06%
- Net Profit
- 0
- 2
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 1,480
- 1,356
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 40
- Depreciation
- 29
- 47
- Tax %
- 12.88%
- Net Profit
- 0
- 2
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 1,423
- 1,309
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 34
- Depreciation
- 26
- 40
- Tax %
- 7.95%
- Net Profit
- 37
- 2
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,497
- 1,365
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 32
- Depreciation
- 28
- 55
- Tax %
- 6.30%
- Net Profit
- 51
- 3
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,502
- 1,368
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 31
- Depreciation
- 31
- 59
- Tax %
- 5.33%
- Net Profit
- 56
- 3
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 1,545
- 1,402
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 47
- Depreciation
- 28
- 57
- Tax %
- -4.68%
- Net Profit
- 60
- 4
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 1,387
- 1,282
- Operating Profit
- —
- OPM %
- —
- Other Income
- 13
- Interest
- 34
- Depreciation
- 27
- 45
- Tax %
- -4.93%
- Net Profit
- 47
- 3
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 1,585
- 1,441
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 39
- Depreciation
- 29
- 61
- Tax %
- 8.81%
- Net Profit
- 56
- 3
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,660
- 1,513
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 40
- Depreciation
- 30
- 57
- Tax %
- 12.49%
- Net Profit
- 50
- 3
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 34
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,691
- 1,534
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 45
- Depreciation
- 31
- 76
- Tax %
- 14.95%
- Net Profit
- 65
- 4
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 1,718
- 1,653
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 48
- Depreciation
- 36
- 61
- Tax %
- 8.52%
- Net Profit
- 56
- 0
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 881 | 780 | 733 | 1,853 | 4,994 | 4,674 | 5,370 | 6,288 | 6,282 | 5,967 | 6,654 | |
| 876 | 748 | 700 | 1,806 | 4,726 | 4,364 | 5,112 | 6,025 | 5,855 | 5,429 | 6,141 | |
| Operating Profit | 11 | 36 | 38 | 53 | 275 | 321 | 280 | 301 | 450 | 542 | — |
| OPM % | 1 | 5 | 5 | 3 | 6 | 7 | 5 | 5 | 7 | 9 | — |
| Other Income | 6 | 4 | 5 | 6 | 7 | 11 | 23 | 38 | 24 | 5 | 26 |
| Interest | 27 | 26 | 25 | 45 | 132 | 98 | 74 | 111 | 141 | 145 | 172 |
| Depreciation | 8 | 7 | 8 | 15 | 92 | 96 | 99 | 107 | 114 | 113 | 125 |
| -22 | 13 | 19 | -79 | -73 | 96 | 86 | 29 | 156 | 212 | 255 | |
| Tax % | -55 | 18 | 22 | 1 | -10 | 19 | 15 | 20 | 12 | 3 | 11 |
| Net Profit | -35 | 10 | 15 | -79 | -80 | 78 | 73 | 24 | 138 | 205 | 226 |
| EPS | -12 | 3 | 5 | -27 | -27 | 5 | 4 | 1 | 8 | 12 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Adjusted EPS | -2 | 1 | 1 | -5 | -5 | 5 | 4 | 1 | 8 | 12 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Adjusted EPS | -2 | 1 | 1 | -5 | -5 | 5 | 4 | 1 | 8 | 12 | — |
Mar 2016
- 881
- 876
- Operating Profit
- 11
- OPM %
- 1
- Other Income
- 6
- Interest
- 27
- Depreciation
- 8
- -22
- Tax %
- -55
- Net Profit
- -35
- EPS
- -12
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
Mar 2017
- 780
- 748
- Operating Profit
- 36
- OPM %
- 5
- Other Income
- 4
- Interest
- 26
- Depreciation
- 7
- 13
- Tax %
- 18
- Net Profit
- 10
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2018
- 733
- 700
- Operating Profit
- 38
- OPM %
- 5
- Other Income
- 5
- Interest
- 25
- Depreciation
- 8
- 19
- Tax %
- 22
- Net Profit
- 15
- EPS
- 5
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2019
- 1,853
- 1,806
- Operating Profit
- 53
- OPM %
- 3
- Other Income
- 6
- Interest
- 45
- Depreciation
- 15
- -79
- Tax %
- 1
- Net Profit
- -79
- EPS
- -27
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
Mar 2020
- 4,994
- 4,726
- Operating Profit
- 275
- OPM %
- 6
- Other Income
- 7
- Interest
- 132
- Depreciation
- 92
- -73
- Tax %
- -10
- Net Profit
- -80
- EPS
- -27
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
Mar 2021
- 4,674
- 4,364
- Operating Profit
- 321
- OPM %
- 7
- Other Income
- 11
- Interest
- 98
- Depreciation
- 96
- 96
- Tax %
- 19
- Net Profit
- 78
- EPS
- 5
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 5
Mar 2022
- 5,370
- 5,112
- Operating Profit
- 280
- OPM %
- 5
- Other Income
- 23
- Interest
- 74
- Depreciation
- 99
- 86
- Tax %
- 15
- Net Profit
- 73
- EPS
- 4
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
Mar 2023
- 6,288
- 6,025
- Operating Profit
- 301
- OPM %
- 5
- Other Income
- 38
- Interest
- 111
- Depreciation
- 107
- 29
- Tax %
- 20
- Net Profit
- 24
- EPS
- 1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 6,282
- 5,855
- Operating Profit
- 450
- OPM %
- 7
- Other Income
- 24
- Interest
- 141
- Depreciation
- 114
- 156
- Tax %
- 12
- Net Profit
- 138
- EPS
- 8
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 8
Mar 2025
- 5,967
- 5,429
- Operating Profit
- 542
- OPM %
- 9
- Other Income
- 5
- Interest
- 145
- Depreciation
- 113
- 212
- Tax %
- 3
- Net Profit
- 205
- EPS
- 12
- Dividend Payout %
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
TTM
- 6,654
- 6,141
- Operating Profit
- —
- OPM %
- —
- Other Income
- 26
- Interest
- 172
- Depreciation
- 125
- 255
- Tax %
- 11
- Net Profit
- 226
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- -0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- -0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 21%
- 5 Years:
- 4%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 30%
- 5 Years:
- —
- 3 Years:
- 41%
STOCK PRICE CAGR
- 10 Years:
- 48%
- 5 Years:
- 28%
- 3 Years:
- 54%
- 1 Year:
- 53%
RETURN ON EQUITY
- 10 Years:
- 102%
- 5 Years:
- 241%
- 3 Years:
- 27%
- Last Year:
- 36%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| 28 | 28 | 28 | 30 | 30 | 33 | 33 | 34 | 34 | 34 | |
| 25 | 31 | 46 | -13 | -208 | 160 | 214 | 261 | 446 | 640 | |
| 162 | 172 | 124 | 207 | 242 | 16 | 26 | 26 | 13 | 7 | |
| Trade Payables | 188 | 143 | 139 | 551 | 548 | 516 | 1,009 | 1,158 | 722 | 556 |
| 466 | 214 | 242 | 1,625 | 1,674 | 1,560 | 1,354 | 1,504 | 1,561 | 1,812 | |
| Total Liabilities | 869 | 589 | 579 | 2,400 | 2,285 | 2,285 | 2,635 | 2,983 | 2,776 | 3,049 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 109 | 111 | 114 | 399 | 557 | 622 | 732 | 794 | 808 | 769 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 32 | 33 | |
| 24 | 19 | 31 | 151 | 137 | 149 | 226 | 362 | 246 | 210 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 386 | 567 | |
| Cash & Bank | 36 | 20 | 12 | 263 | 369 | 410 | 311 | 210 | 223 | 229 |
| 701 | 440 | 423 | 1,587 | 1,223 | 1,103 | 1,365 | 1,586 | 1,080 | 1,242 | |
| Total Assets | 869 | 589 | 579 | 2,400 | 2,285 | 2,285 | 2,635 | 2,983 | 2,776 | 3,049 |
| Total Debt | 162 | 174 | 144 | 804 | 462 | 176 | 274 | 352 | 397 | 654 |
| Net Working Capital | -111 | -111 | -48 | 238 | -436 | -139 | -108 | -17 | 260 | 769 |
| Contingent Liabilities | 58 | 68 | 80 | 83 | 93 | 75 | 159 | 23 | 24 | 30 |
| Book Value per Share | 18.76 | 20.98 | 26.08 | 5.49 | -59.93 | 59.19 | 75.28 | 17.56 | 28.54 | 39.80 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 162 | 174 | 144 | 804 | 462 | 176 | 274 | 352 | 397 | 654 |
| Net Working Capital | -111 | -111 | -48 | 238 | -436 | -139 | -108 | -17 | 260 | 769 |
| Contingent Liabilities | 58 | 68 | 80 | 83 | 93 | 75 | 159 | 23 | 24 | 30 |
| Book Value per Share | 18.76 | 20.98 | 26.08 | 5.49 | -59.93 | 59.19 | 75.28 | 17.56 | 28.54 | 39.80 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 2.00 | 2.00 | 2.00 |
Mar 2016
- 28
- 25
- 162
- Trade Payables
- 188
- 466
- Total Liabilities
- 869
- 109
- 0
- 24
- 0
- Cash & Bank
- 36
- 701
- Total Assets
- 869
- Total Debt
- 162
- Net Working Capital
- -111
- Contingent Liabilities
- 58
- Book Value per Share
- 18.76
- Face Value
- 10.00
- Total Debt
- 162
- Net Working Capital
- -111
- Contingent Liabilities
- 58
- Book Value per Share
- 18.76
- Face Value
- 10.00
Mar 2017
- 28
- 31
- 172
- Trade Payables
- 143
- 214
- Total Liabilities
- 589
- 111
- 0
- 19
- 0
- Cash & Bank
- 20
- 440
- Total Assets
- 589
- Total Debt
- 174
- Net Working Capital
- -111
- Contingent Liabilities
- 68
- Book Value per Share
- 20.98
- Face Value
- 10.00
- Total Debt
- 174
- Net Working Capital
- -111
- Contingent Liabilities
- 68
- Book Value per Share
- 20.98
- Face Value
- 10.00
Mar 2018
- 28
- 46
- 124
- Trade Payables
- 139
- 242
- Total Liabilities
- 579
- 114
- 0
- 31
- 0
- Cash & Bank
- 12
- 423
- Total Assets
- 579
- Total Debt
- 144
- Net Working Capital
- -48
- Contingent Liabilities
- 80
- Book Value per Share
- 26.08
- Face Value
- 10.00
- Total Debt
- 144
- Net Working Capital
- -48
- Contingent Liabilities
- 80
- Book Value per Share
- 26.08
- Face Value
- 10.00
Mar 2019
- 30
- -13
- 207
- Trade Payables
- 551
- 1,625
- Total Liabilities
- 2,400
- 399
- 0
- 151
- 0
- Cash & Bank
- 263
- 1,587
- Total Assets
- 2,400
- Total Debt
- 804
- Net Working Capital
- 238
- Contingent Liabilities
- 83
- Book Value per Share
- 5.49
- Face Value
- 10.00
- Total Debt
- 804
- Net Working Capital
- 238
- Contingent Liabilities
- 83
- Book Value per Share
- 5.49
- Face Value
- 10.00
Mar 2020
- 30
- -208
- 242
- Trade Payables
- 548
- 1,674
- Total Liabilities
- 2,285
- 557
- 0
- 137
- 0
- Cash & Bank
- 369
- 1,223
- Total Assets
- 2,285
- Total Debt
- 462
- Net Working Capital
- -436
- Contingent Liabilities
- 93
- Book Value per Share
- -59.93
- Face Value
- 10.00
- Total Debt
- 462
- Net Working Capital
- -436
- Contingent Liabilities
- 93
- Book Value per Share
- -59.93
- Face Value
- 10.00
Mar 2021
- 33
- 160
- 16
- Trade Payables
- 516
- 1,560
- Total Liabilities
- 2,285
- 622
- 0
- 149
- 0
- Cash & Bank
- 410
- 1,103
- Total Assets
- 2,285
- Total Debt
- 176
- Net Working Capital
- -139
- Contingent Liabilities
- 75
- Book Value per Share
- 59.19
- Face Value
- 10.00
- Total Debt
- 176
- Net Working Capital
- -139
- Contingent Liabilities
- 75
- Book Value per Share
- 59.19
- Face Value
- 10.00
Mar 2022
- 33
- 214
- 26
- Trade Payables
- 1,009
- 1,354
- Total Liabilities
- 2,635
- 732
- 0
- 226
- 0
- Cash & Bank
- 311
- 1,365
- Total Assets
- 2,635
- Total Debt
- 274
- Net Working Capital
- -108
- Contingent Liabilities
- 159
- Book Value per Share
- 75.28
- Face Value
- 10.00
- Total Debt
- 274
- Net Working Capital
- -108
- Contingent Liabilities
- 159
- Book Value per Share
- 75.28
- Face Value
- 10.00
Mar 2023
- 34
- 261
- 26
- Trade Payables
- 1,158
- 1,504
- Total Liabilities
- 2,983
- 794
- 30
- 362
- 0
- Cash & Bank
- 210
- 1,586
- Total Assets
- 2,983
- Total Debt
- 352
- Net Working Capital
- -17
- Contingent Liabilities
- 23
- Book Value per Share
- 17.56
- Face Value
- 2.00
- Total Debt
- 352
- Net Working Capital
- -17
- Contingent Liabilities
- 23
- Book Value per Share
- 17.56
- Face Value
- 2.00
Mar 2024
- 34
- 446
- 13
- Trade Payables
- 722
- 1,561
- Total Liabilities
- 2,776
- 808
- 32
- 246
- 386
- Cash & Bank
- 223
- 1,080
- Total Assets
- 2,776
- Total Debt
- 397
- Net Working Capital
- 260
- Contingent Liabilities
- 24
- Book Value per Share
- 28.54
- Face Value
- 2.00
- Total Debt
- 397
- Net Working Capital
- 260
- Contingent Liabilities
- 24
- Book Value per Share
- 28.54
- Face Value
- 2.00
Mar 2025
- 34
- 640
- 7
- Trade Payables
- 556
- 1,812
- Total Liabilities
- 3,049
- 769
- 33
- 210
- 567
- Cash & Bank
- 229
- 1,242
- Total Assets
- 3,049
- Total Debt
- 654
- Net Working Capital
- 769
- Contingent Liabilities
- 30
- Book Value per Share
- 39.80
- Face Value
- 2.00
- Total Debt
- 654
- Net Working Capital
- 769
- Contingent Liabilities
- 30
- Book Value per Share
- 39.80
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 29 | 4 | 52 | -72 | 1,137 | 303 | 95 | 13 | 129 | -88 | |
| Cash from Investing | -19 | -4 | -5 | -357 | -328 | -32 | -71 | 19 | 1 | -47 |
| Cash from Financing | -10 | -11 | -54 | 629 | -645 | -277 | -43 | -58 | -155 | 192 |
| -0 | -10 | -7 | 201 | 164 | -6 | -18 | -26 | -25 | 58 | |
| Free Cash Flow | 17 | -1 | 41 | -368 | 879 | 182 | -102 | -82 | 129 | -127 |
| OCF / Net Profit | -0.85 | 0.41 | 3.49 | 0.91 | -14.22 | 3.88 | 1.31 | 0.55 | 0.94 | -0.43 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 568 | 732 | 632 | 508 | 1,006 | -0 |
| OCF / Net Profit | -0.85 | 0.41 | 3.49 | 0.91 | -14.22 | 3.88 | 1.31 | 0.55 | 0.94 | -0.43 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 568 | 732 | 632 | 508 | 1,006 | -0 |
Mar 2016
- 29
- Cash from Investing
- -19
- Cash from Financing
- -10
- -0
- Free Cash Flow
- 17
- OCF / Net Profit
- -0.85
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.85
- Cumulative 5-Year FCF
- 0
Mar 2017
- 4
- Cash from Investing
- -4
- Cash from Financing
- -11
- -10
- Free Cash Flow
- -1
- OCF / Net Profit
- 0.41
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.41
- Cumulative 5-Year FCF
- 0
Mar 2018
- 52
- Cash from Investing
- -5
- Cash from Financing
- -54
- -7
- Free Cash Flow
- 41
- OCF / Net Profit
- 3.49
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.49
- Cumulative 5-Year FCF
- 0
Mar 2019
- -72
- Cash from Investing
- -357
- Cash from Financing
- 629
- 201
- Free Cash Flow
- -368
- OCF / Net Profit
- 0.91
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.91
- Cumulative 5-Year FCF
- 0
Mar 2020
- 1,137
- Cash from Investing
- -328
- Cash from Financing
- -645
- 164
- Free Cash Flow
- 879
- OCF / Net Profit
- -14.22
- Cumulative 5-Year FCF
- 568
- OCF / Net Profit
- -14.22
- Cumulative 5-Year FCF
- 568
Mar 2021
- 303
- Cash from Investing
- -32
- Cash from Financing
- -277
- -6
- Free Cash Flow
- 182
- OCF / Net Profit
- 3.88
- Cumulative 5-Year FCF
- 732
- OCF / Net Profit
- 3.88
- Cumulative 5-Year FCF
- 732
Mar 2022
- 95
- Cash from Investing
- -71
- Cash from Financing
- -43
- -18
- Free Cash Flow
- -102
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 632
- OCF / Net Profit
- 1.31
- Cumulative 5-Year FCF
- 632
Mar 2023
- 13
- Cash from Investing
- 19
- Cash from Financing
- -58
- -26
- Free Cash Flow
- -82
- OCF / Net Profit
- 0.55
- Cumulative 5-Year FCF
- 508
- OCF / Net Profit
- 0.55
- Cumulative 5-Year FCF
- 508
Mar 2024
- 129
- Cash from Investing
- 1
- Cash from Financing
- -155
- -25
- Free Cash Flow
- 129
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 1,006
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 1,006
Mar 2025
- -88
- Cash from Investing
- -47
- Cash from Financing
- 192
- 58
- Free Cash Flow
- -127
- OCF / Net Profit
- -0.43
- Cumulative 5-Year FCF
- -0
- OCF / Net Profit
- -0.43
- Cumulative 5-Year FCF
- -0
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | -12.15 | 3.63 | 5.19 | -26.49 | -26.88 | 24.01 | 22.16 | 1.41 | 8.19 | 12.09 |
| Book Value (₹) | 18.76 | 20.98 | 26.08 | 5.49 | -59.93 | 59.19 | 75.28 | 17.56 | 28.54 | 39.80 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 |
| Cash EPS (₹) | -1.83 | 1.19 | 1.62 | -4.31 | 0.79 | 10.68 | 10.44 | 7.81 | 15.00 | 18.78 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 1.27% | 4.60% | 5.21% | 2.86% | 5.52% | 6.87% | 5.22% | 4.78% | 6.78% | 9.01% |
| Net Margin % | -3.92% | 1.32% | 2.04% | -4.25% | -1.60% | 1.67% | 1.35% | 0.38% | 2.19% | 3.43% |
| ROE % | -49.40% | 18.26% | 22.29% | -173.94% | 0.00% | 1093.70% | 33.09% | 8.75% | 35.55% | 35.50% |
| ROCE % | 1.81% | 16.39% | 18.43% | -6.59% | 10.60% | 57.95% | 34.79% | 23.80% | 39.00% | 31.13% |
| -3.96% | 1.55% | 2.56% | -5.29% | -3.41% | 3.42% | 2.96% | 0.84% | 4.78% | 7.03% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 96 | 99 | 103 | 105 | 45 | 23 | 21 | 23 | 23 | 29 |
| Inventory Days | 10 | 10 | 12 | 18 | 11 | 11 | 13 | 17 | 18 | 14 |
| Payable Days | 187 | 217 | 212 | 202 | 133 | 126 | 158 | 194 | 191 | 127 |
| -81 | -108 | -97 | -79 | -78 | -91 | -125 | -154 | -150 | -84 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 2.36x | 2.52x | 1.63x | 49.26x | -2.59x | 0.92x | 1.11x | 1.19x | 0.83x | 0.97x |
| Interest Coverage (x) | 0.16x | 1.48x | 1.76x | -0.78x | 0.45x | 1.98x | 2.17x | 1.26x | 2.11x | 2.46x |
| 0.83x | 0.78x | 0.89x | 1.14x | 0.78x | 0.92x | 0.94x | 0.99x | 1.17x | 1.56x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -1.07% | -11.54% | -5.92% | 152.61% | 169.54% | -6.41% | 14.89% | 17.08% | -0.10% | -5.01% |
| Operating Profit Growth % | -61.13% | 220.82% | 6.35% | 38.71% | 420.17% | 16.58% | -12.71% | 7.21% | 49.73% | 20.56% |
| Net Profit Growth % | -334.19% | 129.86% | 44.53% | -627.60% | -1.51% | 197.66% | -6.88% | -67.41% | 480.89% | 48.75% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 480.35% | 47.60% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 27.53x | 29.73x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.90x | 9.03x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.28% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 8.81x | 12.01x |
Mar 2016
- EPS (₹)
- -12.15
- Book Value (₹)
- 18.76
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -1.83
- Operating Margin %
- 1.27%
- Net Margin %
- -3.92%
- ROE %
- -49.40%
- ROCE %
- 1.81%
- -3.96%
- Debtor Days
- 96
- Inventory Days
- 10
- Payable Days
- 187
- -81
- Debt to Equity (x)
- 2.36x
- Interest Coverage (x)
- 0.16x
- 0.83x
- Revenue Growth %
- -1.07%
- Operating Profit Growth %
- -61.13%
- Net Profit Growth %
- -334.19%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- 3.63
- Book Value (₹)
- 20.98
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.19
- Operating Margin %
- 4.60%
- Net Margin %
- 1.32%
- ROE %
- 18.26%
- ROCE %
- 16.39%
- 1.55%
- Debtor Days
- 99
- Inventory Days
- 10
- Payable Days
- 217
- -108
- Debt to Equity (x)
- 2.52x
- Interest Coverage (x)
- 1.48x
- 0.78x
- Revenue Growth %
- -11.54%
- Operating Profit Growth %
- 220.82%
- Net Profit Growth %
- 129.86%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 5.19
- Book Value (₹)
- 26.08
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.62
- Operating Margin %
- 5.21%
- Net Margin %
- 2.04%
- ROE %
- 22.29%
- ROCE %
- 18.43%
- 2.56%
- Debtor Days
- 103
- Inventory Days
- 12
- Payable Days
- 212
- -97
- Debt to Equity (x)
- 1.63x
- Interest Coverage (x)
- 1.76x
- 0.89x
- Revenue Growth %
- -5.92%
- Operating Profit Growth %
- 6.35%
- Net Profit Growth %
- 44.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -26.49
- Book Value (₹)
- 5.49
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -4.31
- Operating Margin %
- 2.86%
- Net Margin %
- -4.25%
- ROE %
- -173.94%
- ROCE %
- -6.59%
- -5.29%
- Debtor Days
- 105
- Inventory Days
- 18
- Payable Days
- 202
- -79
- Debt to Equity (x)
- 49.26x
- Interest Coverage (x)
- -0.78x
- 1.14x
- Revenue Growth %
- 152.61%
- Operating Profit Growth %
- 38.71%
- Net Profit Growth %
- -627.60%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -26.88
- Book Value (₹)
- -59.93
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.79
- Operating Margin %
- 5.52%
- Net Margin %
- -1.60%
- ROE %
- 0.00%
- ROCE %
- 10.60%
- -3.41%
- Debtor Days
- 45
- Inventory Days
- 11
- Payable Days
- 133
- -78
- Debt to Equity (x)
- -2.59x
- Interest Coverage (x)
- 0.45x
- 0.78x
- Revenue Growth %
- 169.54%
- Operating Profit Growth %
- 420.17%
- Net Profit Growth %
- -1.51%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 24.01
- Book Value (₹)
- 59.19
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 10.68
- Operating Margin %
- 6.87%
- Net Margin %
- 1.67%
- ROE %
- 1093.70%
- ROCE %
- 57.95%
- 3.42%
- Debtor Days
- 23
- Inventory Days
- 11
- Payable Days
- 126
- -91
- Debt to Equity (x)
- 0.92x
- Interest Coverage (x)
- 1.98x
- 0.92x
- Revenue Growth %
- -6.41%
- Operating Profit Growth %
- 16.58%
- Net Profit Growth %
- 197.66%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 22.16
- Book Value (₹)
- 75.28
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 10.44
- Operating Margin %
- 5.22%
- Net Margin %
- 1.35%
- ROE %
- 33.09%
- ROCE %
- 34.79%
- 2.96%
- Debtor Days
- 21
- Inventory Days
- 13
- Payable Days
- 158
- -125
- Debt to Equity (x)
- 1.11x
- Interest Coverage (x)
- 2.17x
- 0.94x
- Revenue Growth %
- 14.89%
- Operating Profit Growth %
- -12.71%
- Net Profit Growth %
- -6.88%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 1.41
- Book Value (₹)
- 17.56
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 7.81
- Operating Margin %
- 4.78%
- Net Margin %
- 0.38%
- ROE %
- 8.75%
- ROCE %
- 23.80%
- 0.84%
- Debtor Days
- 23
- Inventory Days
- 17
- Payable Days
- 194
- -154
- Debt to Equity (x)
- 1.19x
- Interest Coverage (x)
- 1.26x
- 0.99x
- Revenue Growth %
- 17.08%
- Operating Profit Growth %
- 7.21%
- Net Profit Growth %
- -67.41%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 8.19
- Book Value (₹)
- 28.54
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 15.00
- Operating Margin %
- 6.78%
- Net Margin %
- 2.19%
- ROE %
- 35.55%
- ROCE %
- 39.00%
- 4.78%
- Debtor Days
- 23
- Inventory Days
- 18
- Payable Days
- 191
- -150
- Debt to Equity (x)
- 0.83x
- Interest Coverage (x)
- 2.11x
- 1.17x
- Revenue Growth %
- -0.10%
- Operating Profit Growth %
- 49.73%
- Net Profit Growth %
- 480.89%
- 480.35%
- P/E (x)
- 27.53x
- P/B (x)
- 7.90x
- Dividend Yield %
- 0.00%
- 8.81x
Mar 2025
- EPS (₹)
- 12.09
- Book Value (₹)
- 39.80
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 18.78
- Operating Margin %
- 9.01%
- Net Margin %
- 3.43%
- ROE %
- 35.50%
- ROCE %
- 31.13%
- 7.03%
- Debtor Days
- 29
- Inventory Days
- 14
- Payable Days
- 127
- -84
- Debt to Equity (x)
- 0.97x
- Interest Coverage (x)
- 2.46x
- 1.56x
- Revenue Growth %
- -5.01%
- Operating Profit Growth %
- 20.56%
- Net Profit Growth %
- 48.75%
- 47.60%
- P/E (x)
- 29.73x
- P/B (x)
- 9.03x
- Dividend Yield %
- 0.28%
- 12.01x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-20 - Black Box Limited has informed the Exchange about Transcript
- Copy of Newspaper Publication
2026-08-14 - Black Box Limited has informed the Exchange about Copy of Newspaper Publication
Annual Reports
Credit Ratings
- Credit Rating
2026-06-17 - Black Box Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
Jun 2026
May 2026