Black Box Ltd
AGC Networks Ltd. (AGC), incorporated in 1986 by Tata Telecom Pvt. Ltd. to manufacture telecommunication equipment. It is currently held by Essar Telecom Ltd. Over the years, AGC evolved into an information and communication (ICT) solutions provider and integrator with a differentiated vertical approach in business communication systems, applications and services mainly within India.The company is present at multiple geographies such as Middle East, Africa, North America, Australia, New Zealand, Singapore, Philippines and UK servicing over 8000+ customers. [1] [2]
- Market Cap ₹ 17,985 Cr.
- Current Price ₹ 1,013
- High / Low ₹ 1,104 / 435
- Stock P/E 820
- Book Value ₹ 39.5
- Dividend Yield 0.10 %
- ROCE 4.38 %
- ROE 3.78 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 107% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 80.0%
Cons
- Stock is trading at 25.7 times its book value
- The company has delivered a poor sales growth of 10.2% over past five years.
- Tax rate seems low
- Company has a low return on equity of 1.34% over last 3 years.
- Company has high debtors of 156 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 340 | 313 | 246 | 303 | 307 | 309 | 250 | 294 | 363 | 387 | 377 | 406 | |
| 353 | 329 | 253 | 274 | 298 | 291 | 236 | 283 | 347 | 387 | 357 | 376 | |
| Operating Profit | -13 | -16 | -7 | 29 | 8 | 18 | 13 | 11 | 16 | -0 | 19 | 30 |
| OPM % | -4% | -5% | -3% | 10% | 3% | 6% | 5% | 4% | 4% | -0% | 5% | 7% |
| 44 | 8 | 15 | 26 | 12 | 6 | 7 | 5 | 4 | 14 | 6 | 2 | |
| Interest | 24 | 24 | 22 | 21 | 17 | 18 | 17 | 6 | 8 | 7 | 5 | 5 |
| Depreciation | 5 | 5 | 2 | 2 | 2 | 7 | 5 | 4 | 7 | 8 | 8 | 9 |
| Profit before tax | 2 | -37 | -16 | 32 | 1 | -2 | -2 | 6 | 6 | -1 | 12 | 18 |
| Tax % | 116% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -1% | 1,250% | 1% | 1% |
| -0 | -37 | -16 | 32 | 1 | -2 | -2 | 6 | 6 | -15 | 12 | 18 | |
| EPS in Rs | -0.03 | -2.58 | -1.14 | 2.23 | 0.09 | -0.11 | -0.11 | 0.35 | 0.35 | -0.89 | 0.70 | 1.03 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 143% | 97% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 10% |
| 3 Years: | 4% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 107% |
| 3 Years: | 74% |
| TTM: | 96% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 56% |
| 5 Years: | 31% |
| 3 Years: | 95% |
| 1 Year: | 86% |
| Return on Equity | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | 2% |
| 3 Years: | 1% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 28 | 28 | 28 | 30 | 30 | 33 | 33 | 34 | 34 | 34 | 36 |
| Reserves | 65 | 29 | 21 | 43 | 63 | 59 | 244 | 252 | 296 | 281 | 427 | 665 |
| 152 | 153 | 134 | 131 | 98 | 113 | 22 | 53 | 55 | 39 | 34 | 43 | |
| 177 | 164 | 144 | 136 | 154 | 135 | 131 | 118 | 136 | 122 | 168 | 159 | |
| Total Liabilities | 423 | 374 | 327 | 339 | 345 | 337 | 430 | 456 | 520 | 475 | 662 | 902 |
| 12 | 12 | 11 | 9 | 8 | 24 | 11 | 33 | 34 | 31 | 26 | 29 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
| Investments | 49 | 49 | 49 | 49 | 49 | 49 | 194 | 194 | 234 | 234 | 306 | 306 |
| 362 | 313 | 267 | 281 | 288 | 264 | 224 | 229 | 250 | 210 | 330 | 567 | |
| Total Assets | 423 | 374 | 327 | 339 | 345 | 337 | 430 | 456 | 520 | 475 | 662 | 902 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -36 | -7 | 15 | 33 | 58 | 24 | 23 | 15 | 15 | 23 | -24 | -20 | |
| 53 | 33 | 4 | 4 | -22 | 4 | -119 | -4 | -46 | -2 | -76 | 6 | |
| -18 | -23 | -23 | -37 | -36 | -27 | 99 | -14 | 31 | -21 | 122 | 233 | |
| Net Cash Flow | -2 | 3 | -4 | -0 | -0 | 0 | 3 | -3 | -0 | -0 | 22 | 219 |
| Free Cash Flow | -37 | -12 | 12 | 33 | 58 | 23 | 24 | 11 | 8 | 20 | -24 | -22 |
| CFO/OP | 280% | 11% | -232% | 65% | 740% | 180% | -20% | 75% | 51% | -290% | -134% | -42% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 133 | 121 | 113 | 125 | 112 | 91 | 98 | 103 | 119 | 92 | 149 | 156 |
| Inventory Days | 45 | 33 | 46 | 69 | 49 | 30 | 63 | 21 | 26 | 30 | 37 | 68 |
| Days Payable | 278 | 226 | 259 | 200 | 219 | 192 | 324 | 273 | 231 | 213 | 281 | 240 |
| Cash Conversion Cycle | -100 | -72 | -100 | -6 | -59 | -71 | -164 | -149 | -86 | -91 | -95 | -16 |
| Working Capital Days | -34 | -92 | -128 | -31 | -22 | -42 | 30 | 39 | 44 | 43 | 92 | 110 |
| ROCE % | -3% | -6% | -2% | 17% | 6% | 9% | 7% | 4% | 3% | 1% | 4% | 4% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Headcount (Global Representatives) Number |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
12h - Black Box will attend Avendus Spark small-cap investor conference on June 15, 2026 in Mumbai.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
7 Jun - Transcript of Black Box Capital Markets Day 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1 Jun - Audio recording of Black Box Capital Markets Day 2026 held on June 1, 2026.
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Announcement under Regulation 30 (LODR)-Investor Presentation
1 Jun - Presentation on Black Box Capital Markets Day 2026
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1 Jun - Black Box and AIONOS announced strategic alliance to scale AI-led infrastructure and applications on June 1, 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from nse
Concalls
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Jun 2026Transcript PPT REC
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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Jun 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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Jun 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT REC
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
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Aug 2021TranscriptAI SummaryPPT
Business Segments FY24
System Integration (86%): Offerings under this segment include Unified Communication, Data Center & Edge IT, Cyber Security, Digital Solutions & Applications, and Seamless Customer Support and managed services.