Who are Black Box's main competitors?

Named competitors: Wipro (WIPRO.NS), HCL Technologies (HCLTECH.NS). The cockpit's measured peer set (industry) also includes Shenzhen Forms Syntron Information (300468.SZ), Shenzhen YSSTech Information Technology (300377.SZ), Cetc Potevio Science & Technology (002544.SZ), Guangzhou Sie Consulting (300687.SZ), Data#3 (DTL.AX), Neusoft (600718.SS).

Is Black Box expensive compared with its peers?

On forward p/e it trades at 47.3× against a peer median of 37.1×, 6th most expensive of 16 in its peer set.

How has Black Box stock performed?

Over six months to 6 Nov 2026 the shares returned +10.1% against -17.7% for the median peer; over one year +50.0%.

← CockpitCompetitor Analysis › BBOX.NS Black Box LimitedOpen in the cockpit ↗

Black Box LimitedBBOX.NSCompetitor analysis, valuation and peers

India · INR·IT›Information Technology Services

Global IT infrastructure and network integration company, rebranded from AGC Networks after acquiring Black Box Corp (US).

Momentum strong 71

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.53B

US dollars, full cap

Free float

28%

of shares outstanding

$/day

$9.83M

20-day average traded

Fwd P/E

47.3×

forward earnings

ROIC−WACC

+11.3 pp

WACC 16.4%

Hurdle

n/a

no reverse DCF

Next earnings

97 days

11 Feb 2027

Close · INR₹810.95

1D-5.4%

1W+1.8%

1M-8.3%

3M+9.3%

6M+10.1%

YTD+47.2%

1Y+50.0%

ATR %5.3%

Beta0.94

52w lowhigh26.5% off high

What Black Box does

Global IT infrastructure and network integration company, rebranded from AGC Networks after acquiring Black Box Corp (US).

Products and services

Network infrastructure integration
Unified communications solutions
Managed IT services

Customers

Enterprises globally
Government/public-sector IT projects

Where it sits in the supply chain

IT services/infrastructure
Network & IT infrastructure integration
Unified communications & network…

What could go right

Enterprise IT/network infrastructure spending
Global expansion via Black Box brand

What could go wrong

Low-margin systems-integration business
Competitive global IT services pricing

Moat: none (distribution). Systems-integration business with limited differentiation in a competitive global IT infrastructure market.

Headquarters: Mumbai, India · Founded: 1986 · Employees: 3,427

Named competitors

Wipro WIPRO.NS
HCL Technologies HCLTECH.NS

Black Box at a glance

Size Black Box (BBOX.NS) is an India Information Technology company (Information Technology Services) with a market value of $1.53B, the 464th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹810.95 on 6 Nov 2026.

Performance Over six months the shares gained 10.1%, against -17.7% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 20 in its peer set.

Growth Revenue grew 12.2% over the last twelve months (peer median +5.3%); the operating margin is 7.2% (peer median 3.8%).

Valuation It trades at 47.3× forward earnings against a peer median of 37.1× (6th most expensive of 16).

Capital Return on invested capital runs 11.3 points above its cost of capital (16.4% WACC).

Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Black Box against the median of its 20 peers (local-currency closes).

Black Box financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹66.5B	₹63.2B	₹59.7B	₹62.7B	₹62.8B
Revenue growth	—	+6%	-5%	0%	—
Gross profit	₹10.3B	₹9.21B	₹8.29B	₹7.11B	₹5.47B
EBITDA	₹6.01B	₹5.57B	₹5.38B	₹4.23B	₹2.67B
Net income	₹2.26B	₹2.18B	₹2.05B	₹1.38B	₹237M
Free cash flow	n/a	-₹1.22B	-₹2.52B	-₹377M	-₹1.70B
Capital expenditure	n/a	₹722M	₹444M	₹507M	₹985M
Total debt	n/a	₹11.5B	₹9.42B	₹7.12B	₹6.28B

Quarterly statements and history in the cockpit →

Black Box competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Black Box is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Black Box is the large dot.

Black Box competitors and peer comparison

Head to head with its named competitors (BBOX.NS vs WIPRO.NS vs HCLTECH.NS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Black Box BBOX.NS	$1.53B	+10%	+12%	7%	47.3×	n/a
Wipro WIPRO.NS	$20.7B	0%	+8%	16%	14.9×	9.0%
HCL Technologies HCLTECH.NS	$41.4B	+22%	+13%	18%	19.5×	11.8%

How Black Box compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Black Box against its 20 peers (data as of 6 Nov 2026)
Measure	BBOX.NS	Peer median	Rank in peer set
1-month return	-8.3%	-2.9%	6th lowest of 21
6-month return	+10.1%	-17.7%	5th highest of 20
Distance from 52-week high	-26.5%	-41.5%	5th highest of 21
Revenue growth (TTM)	+12.2%	+5.3%	8th highest of 21
Operating margin	7.2%	3.8%	9th highest of 21
Forward P/E	47.3×	37.1×	6th most expensive of 16
ROIC minus cost of capital	+11.3 pp	-6.1 pp	2nd highest of 19
EV / EBITDA	24.0×	25.1×	4th cheapest of 8
Net debt / EBITDA	1.0×	-0.5×	3rd most indebted of 9

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Black Box BBOX.NS	India	$1.53B	+10%	+12%	7%	47.3×	n/a	n/a
Shenzhen Forms Syntron Information 300468.SZ	China	$1.52B	-33%	+9%	9%	n/a	n/a	n/a
Shenzhen YSSTech Information Technology 300377.SZ	China	$1.53B	-24%	+14%	-3%	n/a	n/a	n/a
Cetc Potevio Science & Technology 002544.SZ	China	$1.52B	-41%	0%	0%	375.0×	n/a	n/a
Guangzhou Sie Consulting 300687.SZ	China	$1.52B	0%	+3%	-3%	79.8×	n/a	n/a
Data#3 DTL.AX	Australia	$1.54B	+81%	+6%	8%	31.6×	26.9%	-14.2%
Neusoft 600718.SS	China	$1.51B	-3%	-5%	-5%	37.1×	-6.1%	+9.7%
Voyager Technologies VOYG	United States	$1.49B	-19%	+42%	-82%	n/a	n/a	n/a
PDF Solutions PDFS	United States	$1.59B	-27%	+23%	8%	26.0×	n/a	n/a
Jiangsu Eazytec 688258.SS	China	$1.46B	-33%	0%	28%	47.5×	40.1%	+11.1%
Quantum Computing QUBT	United States	$1.43B	-34%	+3,635%	-775%	n/a	n/a	n/a
CETC Digital Technology 600850.SS	China	$1.62B	-18%	-1%	2%	17.3×	19.1%	+5.8%
VSTECS 0856.HK	Hong Kong	$1.42B	-30%	+11%	2%	6.4×	-12.2%	+6.9%
Zen Technologies ZENTEC.NS	India	$1.64B	+6%	+4%	31%	45.7×	53.0%	+66.0%
Everforth EFOR	United States	$1.41B	+69%	0%	6%	8.3×	-1.5%	+2.6%
Mega Fortune MGRT	United States	$1.65B	-14%	-8%	-37%	n/a	n/a	n/a
secunet Security Networks YSN.DE	Germany	$1.66B	+20%	+13%	11%	37.3×	n/a	n/a
Simplex Holdings,Inc 4373.T	Japan	$1.66B	+25%	+20%	23%	19.4×	12.4%	+16.3%
Northking Information Technology 002987.SZ	China	$1.67B	-14%	+1%	6%	30.6×	16.2%	+16.1%
Digital China Information Service 000555.SZ	China	$1.39B	-30%	-8%	0%	80.2×	n/a	n/a
ESDS Software Solution ESDS.NS	India	$1.38B	n/a	+31%	36%	64.8×	22.6%	+22.4%

Questions

Who are Black Box's main competitors?: Named competitors: Wipro (WIPRO.NS), HCL Technologies (HCLTECH.NS). The cockpit's measured peer set (industry) also includes Shenzhen Forms Syntron Information (300468.SZ), Shenzhen YSSTech Information Technology (300377.SZ), Cetc Potevio Science & Technology (002544.SZ), Guangzhou Sie Consulting (300687.SZ), Data#3 (DTL.AX), Neusoft (600718.SS).
Is Black Box expensive compared with its peers?: On forward p/e it trades at 47.3× against a peer median of 37.1×, 6th most expensive of 16 in its peer set.
How has Black Box stock performed?: Over six months to 6 Nov 2026 the shares returned +10.1% against -17.7% for the median peer; over one year +50.0%.