Black Box Q3 FY26 Earnings Results: Revenue Rises 11% YoY; Brazil Acquisition to Boost Global Expansion

Black Box Limited reported steady growth for the quarter ended December 31, 2025. Revenue reached ₹1,660 crore, rising 11% year-on-year and 5% quarter-on-quarter, supported by strong execution across key markets.

EBITDA stood at ₹147 crore, up 10% YoY and 3% QoQ, while margins remained stable at 8.9% due to better cost absorption and a balanced business mix.

Profit after tax (PAT) was ₹50 crore, lower than ₹56 crore last year and in the previous quarter. The decline was mainly due to a one-time ₹6 crore provision linked to employee benefit changes under the New Labour Code.

For the nine months of FY26, revenue grew to ₹4,631 crore and PAT increased to ₹153 crore, showing overall improvement despite the one-time impact.

Order Book and Business Momentum

During the first nine months of FY26, the company secured $626 million (about ₹5,466 crore) worth of orders and aims to reach $1 billion in total orders for the full year.

The order backlog stood at $601 million (₹5,402 crore) as of December 2025 and is expected to exceed $800 million by FY26 end, supported by strong demand, especially in the datacentre segment.

Key wins in the quarter included:

• Datacentre orders from global hyperscalers
• Multiple projects from the US public sector
• Large contracts from an Indian internet company and an Australian bank

Strategic Expansion in Brazil

Black Box signed a definitive agreement to acquire 100% stake in Brazil-based 2S Inovações Tecnológicas, with completion expected by March 2026.

The acquisition supports the company’s long-term plan to reach $2 billion annual revenue by 2030 and strengthens its presence in Latin America, a region with strong technology talent and growth potential.

The deal is also expected to add around ₹500 crore in revenue in FY27, with integration and synergies targeted within 90 days of closing.

Management Outlook

Management highlighted improving execution, a stronger order pipeline, and a better business mix as key drivers for future growth.
Despite the temporary impact on PAT, the company expects profit growth to accelerate as margins normalise, higher-value opportunities increase, and operational efficiencies improve.

The Brazil acquisition is seen as a strategic step to expand networking, cloud, and digital infrastructure capabilities while creating long-term shareholder value.

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About Black Box

Black Box is a global provider of digital infrastructure solutions, offering network integration, managed services, and technology products to large enterprises across the US, Europe, India, Asia-Pacific, the Middle East, and Latin America.
It serves sectors such as financial services, healthcare, retail, technology, manufacturing, and public services.

Black Box Share Price Movement

Black Box share price (NSE: BBOX) closed at ₹582.10 on 11 February at 3:30 pm IST, gaining ₹13.75 or 2.42% for the day. The stock opened at ₹568.30, touched an intraday high of ₹587.00, and recorded a low of ₹560.00. Over the past 52 weeks, the stock has reached a high of ₹613.80 and a low of ₹320.85. It offers a dividend yield of around 0.17%, with a quarterly dividend of ₹0.25 per share.

Conclusion

Black Box delivered steady revenue and operating growth in Q3 FY26, supported by strong order wins and stable margins. With a rising backlog, improving profitability outlook, and strategic expansion into Brazil, the company appears well-positioned for sustained global growth in the coming years.

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