Black Box Ltd

₹ 253 2.83%

26 Apr - close price

About

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]

Key Points

Business Segments
System Integration: Offerings under this segment include Unified Communication, Data Center & Edge IT, Cyber Security, Digital Solutions & Applications and Seamless Customer Support and managed services.
Technology Product Solution: Offerings under this segment include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (“KVM”) switching.
Consulting Business: This business is related to providing consulting services for performance improvement and customer experience. ^[1]

Website BSE NSE

Market Cap ₹ 4,248 Cr.
Current Price ₹ 253
High / Low ₹ 312 / 120
Stock P/E
Book Value ₹ 19.4
Dividend Yield 0.00 %
ROCE 3.35 %
ROE 1.39 %
Face Value ₹ 2.00

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Pros

Cons

Stock is trading at 13.0 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 3.67% over past five years.
Company has a low return on equity of 1.40% over last 3 years.
Earnings include an other income of Rs.13.6 Cr.

* 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.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Medium / Small

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	61.61	74.25	84.14	60.35	78.86	70.24	81.67	78.97	105.77	96.96	84.28	94.72	103.96
	56.44	69.69	74.67	60.11	75.91	71.91	77.95	77.71	93.22	98.31	82.26	95.24	98.39
Operating Profit	5.17	4.56	9.47	0.24	2.95	-1.67	3.72	1.26	12.55	-1.35	2.02	-0.52	5.57
OPM %	8.39%	6.14%	11.26%	0.40%	3.74%	-2.38%	4.55%	1.60%	11.87%	-1.39%	2.40%	-0.55%	5.36%
	0.20	4.45	5.15	0.14	-0.43	0.15	1.25	1.06	1.00	0.56	1.02	0.70	11.27
Interest	4.16	3.80	1.19	1.03	1.64	1.84	1.80	1.94	1.52	2.49	1.77	1.88	1.71
Depreciation	0.96	0.94	0.79	1.01	1.55	1.14	1.35	1.74	1.62	1.80	1.73	2.06	2.00
Profit before tax	0.25	4.27	12.64	-1.66	-0.67	-4.50	1.82	-1.36	10.41	-5.08	-0.46	-3.76	13.13
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-6.04%	-2.94%	0.00%	-0.39%	-8.70%	0.80%	73.42%
	0.25	4.27	12.64	-1.66	-0.67	-4.50	1.93	-1.40	10.41	-5.10	-0.50	-3.73	3.49
EPS in Rs	0.02	0.26	0.78	-0.10	-0.04	-0.27	0.12	-0.08	0.62	-0.30	-0.03	-0.22	0.21
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	621	594	305	340	313	246	303	307	309	250	294	363	380
	584	608	421	353	329	253	274	298	291	236	283	347	374
Operating Profit	38	-14	-116	-13	-16	-7	29	8	18	13	11	16	6
OPM %	6%	-2%	-38%	-4%	-5%	-3%	10%	3%	6%	5%	4%	4%	2%
	10	42	9	44	8	15	26	12	6	7	5	4	14
Interest	6	32	29	24	24	22	21	17	18	17	6	8	8
Depreciation	13	11	9	5	5	2	2	2	7	5	4	7	8
Profit before tax	29	-15	-145	2	-37	-16	32	1	-2	-2	6	6	4
Tax %	44%	-51%	-0%	116%	0%	0%	0%	0%	0%	0%	0%	-1%
	16	-23	-145	-0	-37	-16	32	1	-2	-2	6	6	-6
EPS in Rs		-1.63	-10.20	-0.03	-2.58	-1.14	2.23	0.09	-0.11	-0.11	0.35	0.35	-0.34
Dividend Payout %	131%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	4%
3 Years:	6%
TTM:	13%

Compounded Profit Growth
10 Years:	8%
5 Years:	-18%
3 Years:	66%
TTM:	-243%

Stock Price CAGR
10 Years:	37%
5 Years:	63%
3 Years:	-9%
1 Year:	82%

Return on Equity
10 Years:	-16%
5 Years:	0%
3 Years:	1%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	14	28	28	28	28	28	28	30	30	33	33	34	34
Reserves	248	210	65	65	29	21	43	63	59	232	240	296	292
Preference Capital	0	0	0	15	15	0	14	0	0	0	0	0
	90	236	148	137	138	134	117	98	113	22	53	55	51
	273	310	295	192	179	144	150	154	135	144	130	138	121
Total Liabilities	625	784	537	423	374	327	339	345	337	430	456	522	496
	28	22	19	12	12	11	9	8	24	11	33	34	34
CWIP	0	0	3	0	0	0	0	0	0	0	0	2	0
Investments	95	49	49	49	49	49	49	49	49	194	194	234	234
	503	713	467	362	313	267	281	288	264	224	229	252	228
Total Assets	625	784	537	423	374	327	339	345	337	430	456	522	496

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-17	-59	82	-36	-7	15	33	58	24	23	15	15
	-54	-36	24	53	33	4	4	-22	4	-119	-4	-46
	80	90	-117	-18	-23	-23	-37	-36	-27	99	-14	31
Net Cash Flow	9	-5	-10	-2	3	-4	-0	-0	0	3	-3	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	157	195	202	133	121	113	125	112	91	98	103	119
Inventory Days	69	89	132	45	33	46	69	49	30	63	21	26
Days Payable	166	220	376	278	226	259	200	219	192	324	273	231
Cash Conversion Cycle	60	63	-42	-100	-72	-100	-6	-59	-71	-164	-149	-86
Working Capital Days	73	151	23	112	69	71	110	95	75	57	70	71
ROCE %	12%	-2%	-30%	-3%	-6%	-2%	17%	6%	9%	7%	4%	3%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	71.18%	70.57%	70.56%	70.56%	71.21%	71.14%	71.14%	71.14%	71.14%	71.14%	71.14%	71.09%
	5.92%	5.81%	5.73%	5.69%	5.60%	5.50%	5.58%	5.58%	5.54%	4.92%	4.83%	4.81%
	0.07%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	0.58%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%
	22.26%	23.47%	23.56%	23.60%	23.05%	23.21%	23.15%	23.15%	23.18%	23.80%	23.90%	23.97%
No. of Shareholders	8,251	8,743	8,891	10,593	12,619	13,696	14,153	14,283	14,058	16,847	16,394	16,647

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	75.00%	74.90%	64.28%	69.10%	71.18%	70.56%	71.14%	71.09%
	7.14%	7.54%	5.71%	6.05%	5.96%	5.69%	5.58%	4.81%
	0.04%	0.04%	6.62%	0.02%	0.02%	0.01%	0.01%	0.01%
	1.15%	1.15%	1.46%	1.12%	0.58%	0.13%	0.13%	0.13%
	16.67%	16.37%	21.93%	23.71%	22.26%	23.60%	23.15%	23.97%
No. of Shareholders	9,791	9,106	8,402	7,637	7,488	10,593	14,283	16,647

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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