Black Box Posts 22% Annual Revenue Growth as Order Backlog Rises 88%
Key Facts
Black Box reported unaudited results for the second quarter of fiscal 2027 on November 13, posting annual revenue growth of 22%, according to a company statement. The company said growth came from continued execution of hyperscale data center infrastructure projects and enterprise solutions. It added that momentum in its technology products business improved during the period. Earnings before interest, tax, depreciation and amortization rose 23% to ₹175 crore. Net profit after tax increased 31% to ₹73 crore, while the EBITDA margin held at 9.0%, unchanged from the same period a year earlier.
Order bookings totaled $298 million during the quarter, up 37% year on year, according to results cited by MarketScreener from the company statement. The order backlog reached $1,044 million on September 30, 2026, compared with $555 million on the same date a year earlier, an increase of 88%. The figures put the volume of contracted business in the context of quarterly revenue and profit growth. The company said execution of hyperscale data center projects and enterprise solutions were growth drivers. It also pointed to improved momentum in technology products, without detailing each business’s contribution to the results.
On a quarterly basis, second-quarter revenue followed operating revenue of ₹1,718.50 crore in the first quarter of fiscal 2027, according to results for that quarter published in August. Operating revenue in the first quarter of fiscal 2026 was ₹1,386.74 crore. The quarterly comparison shows the company entered the second quarter after the revenue level recorded in the first quarter, while the latest disclosure said second-quarter revenue was a record. The company attributed growth during the period to execution of hyperscale data center projects and enterprise solutions, as well as improved momentum in technology products. No official statement attributed the performance to cloud computing.
The quarterly results included a full quarter of consolidated results from Brazil’s 2S Inovações Tecnológicas, which was included from May 1, 2026. Black Box had announced completion of the acquisition on May 13, 2026. Accordingly, 2S results were included in the period’s consolidated accounts, based on the consolidation start date stated in the company’s results. This is a detail of the scope of the reported results alongside business growth driven by infrastructure projects and enterprise solutions. It does not change the year-on-year comparison in the results, which showed growth in profit, revenue and bookings.
The independent auditor’s review noted amounts overdue as of September 30, 2026, including import payments of ₹20.44 crore, export proceeds of ₹7.44 crore and other income of ₹11.14 crore. Management said it had submitted requests for extensions and settlement and was still awaiting a response. The disclosure was included among the details of the period’s reported financial results. On operating profitability, the EBITDA margin remained at 9.0%, alongside an increase in EBITDA to ₹175 crore. The company also reported growth in net profit and order bookings compared with the same period.
Chief Executive Sanjeev Verma said the results “reinforce our confidence in expanding the business toward the direct growth target of $2 billion in revenue.” In Friday afternoon trading on November 13, the stock rose more than 6% to ₹937, according to Moneycontrol. The report said the stock had gained 74% since the start of 2026, while the Nifty 50 fell about 4% over the same period. The share move reflects trading in the session following the results, while the stated revenue target remains a future direction for the company. The reported results covered the quarter and first half ended September 30, 2026.