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 ₹ 18,421 Cr.
- Current Price ₹ 1,037
- High / Low ₹ 1,050 / 435
- Stock P/E 67.1
- Book Value ₹ 72.5
- Dividend Yield 0.10 %
- ROCE 22.2 %
- ROE 26.8 %
- Face Value ₹ 2.00
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.2%
Cons
- Stock is trading at 14.3 times its book value
- The company has delivered a poor sales growth of 6.23% over past five years.
- Tax rate seems low
- Debtor days have increased from 41.2 to 66.6 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 891 | 881 | 780 | 733 | 1,853 | 4,994 | 4,674 | 5,370 | 6,288 | 6,282 | 5,967 | 6,322 | |
| 867 | 876 | 747 | 700 | 1,806 | 4,666 | 4,310 | 5,112 | 6,014 | 5,855 | 5,429 | 5,765 | |
| Operating Profit | 24 | 6 | 32 | 33 | 47 | 328 | 364 | 258 | 273 | 426 | 538 | 557 |
| OPM % | 3% | 1% | 4% | 5% | 3% | 7% | 8% | 5% | 4% | 7% | 9% | 9% |
| 38 | 7 | 13 | 19 | -67 | -178 | -75 | 0 | -25 | -14 | -68 | -44 | |
| Interest | 26 | 27 | 26 | 25 | 45 | 132 | 98 | 74 | 111 | 141 | 145 | 158 |
| Depreciation | 18 | 8 | 7 | 8 | 15 | 92 | 96 | 99 | 107 | 114 | 113 | 116 |
| Profit before tax | 18 | -22 | 13 | 19 | -79 | -73 | 96 | 86 | 29 | 156 | 212 | 239 |
| Tax % | 16% | 55% | 18% | 22% | -1% | 10% | 19% | 15% | 20% | 12% | 3% | 9% |
| 15 | -35 | 10 | 15 | -79 | -80 | 78 | 73 | 24 | 138 | 205 | 218 | |
| EPS in Rs | 1.04 | -2.43 | 0.73 | 1.05 | -5.30 | -5.38 | 4.80 | 4.43 | 1.41 | 8.19 | 12.09 | 12.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 6% |
| 3 Years: | 0% |
| TTM: | 6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 25% |
| 5 Years: | 14% |
| 3 Years: | 83% |
| TTM: | 0% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 56% |
| 5 Years: | 29% |
| 3 Years: | 93% |
| 1 Year: | 105% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 35% |
| Last Year: | 27% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 58 | 25 | 41 | 47 | -11 | -206 | 174 | 228 | 262 | 447 | 725 | 1,251 |
| 161 | 177 | 173 | 158 | 808 | 596 | 328 | 481 | 628 | 712 | 942 | 1,153 | |
| 385 | 393 | 346 | 346 | 1,605 | 1,886 | 1,768 | 1,911 | 2,078 | 1,607 | 1,371 | 1,854 | |
| Total Liabilities | 633 | 623 | 589 | 580 | 2,432 | 2,306 | 2,303 | 2,652 | 3,002 | 2,800 | 3,072 | 4,294 |
| 90 | 109 | 111 | 114 | 399 | 557 | 622 | 732 | 794 | 808 | 769 | 883 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30 | 32 | 33 | 0 |
| 543 | 514 | 478 | 467 | 2,032 | 1,749 | 1,681 | 1,920 | 2,175 | 1,960 | 2,271 | 3,410 | |
| Total Assets | 633 | 623 | 589 | 580 | 2,432 | 2,306 | 2,303 | 2,652 | 3,002 | 2,800 | 3,072 | 4,294 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 28 | 29 | 4 | 52 | -72 | 1,137 | 303 | 95 | 13 | 129 | -88 | 84 | |
| 77 | -21 | -4 | -5 | -360 | -382 | 15 | -108 | -56 | 40 | -105 | -57 | |
| -100 | -10 | -11 | -54 | 629 | -645 | -277 | -43 | -58 | -155 | 192 | 197 | |
| Net Cash Flow | 5 | -2 | -10 | -7 | 197 | 110 | 41 | -55 | -102 | 14 | -0 | 224 |
| Free Cash Flow | 24 | 20 | -5 | 41 | -365 | 1,081 | 285 | 45 | 32 | 134 | -129 | 12 |
| CFO/OP | 109% | 629% | 31% | 126% | -98% | 354% | 69% | 45% | 5% | 25% | -16% | 20% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| 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 | 101 | 90 | 97 | 104 | 170 | 26 | 19 | 25 | 24 | 22 | 35 | 67 |
| Inventory Days | 25 | 23 | 24 | 47 | 88 | 33 | 35 | 47 | 65 | 50 | 42 | 53 |
| Days Payable | 187 | 184 | 187 | 209 | 324 | 133 | 122 | 210 | 208 | 146 | 110 | 129 |
| Cash Conversion Cycle | -60 | -71 | -66 | -59 | -65 | -73 | -68 | -137 | -118 | -74 | -34 | -10 |
| Working Capital Days | -40 | -61 | -61 | -29 | -5 | -59 | -43 | -29 | -13 | 2 | 33 | 54 |
| ROCE % | 4% | 1% | 12% | 13% | 7% | 39% | 58% | 26% | 20% | 31% | 30% | 22% |
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 | |
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| Total Headcount (Global Representatives) Number |
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| Client Concentration (Top 10 Clients Revenue Share) % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1h - Clippings of Newspaper advertisement published with respect to circulation of EGM Notice to be held on June 19, 2026
- Notice Of Extra Ordinary General Meeting 1d
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Clippings of newspaper advertisement published for Audited Financial Results for the quarter and year ended March 31, 2026
- Announcement under Regulation 30 (LODR)-Investor Presentation 26 May
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Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised)
26 May - Black Box reported FY26 audited results, $1 billion bookings, 57% backlog growth, 50% dividend, Brazil acquisition, ₹386.36 crore warrants.
Annual reports
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Financial Year 2025
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Financial Year 2024
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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
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Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript 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.