Financial Performance Summary (in ₹ crore)
| Metric | Q1 FY2027 | Q1 FY2026 | Growth |
| Revenue | 1,719 | 1,387 | 24% |
| EBITDA | 160 | 116 | 38% |
| EBITDA Margin | 9.3% | 8.4% | 90 bps expansion |
| PAT | 56 | 47 | 18% |
Note: The quarter included two months of consolidation from the recently acquired Brazil-based 2S Inovações Tecnológicas business.
Order Backlog and Bookings Performance
- Order backlog reached an all-time high of US$949 million (~₹8,986 crore), up 83% YoY from US$4,901 million (~₹4,901 crore)
- New orders during the quarter: approximately US$339 million (~₹3,208 crore)
- Project-led backlog grew approximately 50% quarter-over-quarter
- Backlog provides 24-36 months of revenue visibility due to longer-duration engagements
Key Business Developments
Hyperscaler Business Expansion:
- Secured new global hyperscaler order worth US$131 million (~₹1,240 crore)
- Expanded relationship with existing hyperscaler client
- Company is the only India-origin, AI-led digital infrastructure solutions provider executing gigawatt-scale data center programs
Broad-Based Customer Wins:
- Financial services, healthcare, public services and retail contributed approximately US$80 million (~₹757 crore) to order bookings
- Key wins include:
- Large U.S. connectivity infrastructure and networking engagement with one of the world's largest chip manufacturers
- Workplace solutions and connectivity engagement with a leading discount retailer
- Significant orders from a U.S. state government and a leading healthcare provider
Market Position and Growth Strategy
- Company participates in an estimated US$250-300 billion global market across data centers, enterprise networking, connectivity infrastructure, cybersecurity, managed services and digital workplace solutions
- Strong presence in United States with established operating presence and deep relationships with Fortune 500 companies
- Currently serves approximately 300 strategic enterprise accounts
- Targeting revenue goal of US$2 billion by FY30
Execution Capacity Building
- Plans to hire nearly 3,000 professionals by FY30, primarily in the U.S.
- Investment focused on expanding delivery capacity and supporting larger, more complex programs
- Strengthening leadership, sales, engineering and delivery capabilities
Management Commentary
Mr. Sanjeev Verma, Whole-time Director & Chief Executive Officer:
- "We have entered FY27 with strong momentum, delivering our highest-ever quarterly revenue of ₹1,719 crore, up 24% YoY"
- "Strong order bookings of US$339 million lifted our backlog to an all-time high of US$949 million, providing greater visibility and a strong foundation for sustained growth"
- "Our growing participation in AI-led digital infrastructure, expanding hyperscaler relationships and deep presence across approximately 300 strategic enterprise accounts give us significant headroom to scale"
Mr. Deepak Kumar Bansal, Executive Director and Global CFO:
- "Q1 demonstrates the improving financial quality of the business, with EBITDA growth outpacing revenue growth and margins expanding by 90 bps"
- "Focus remains on translating this momentum into stronger cash flows and returns through operating leverage, disciplined working capital management and prudent capital allocation"
Forward Guidance
- Expects US$1.3-1.5 billion of order bookings in FY27, representing growth of approximately 32-45% over FY26
- Expects to exit FY27 with order backlog of US$1.3-1.4 billion, an increase of approximately 65-75% YoY
- Targeting US$2 billion revenue by FY30
Company Overview
Black Box Limited (BSE: 500463 | NSE: BBOX) is a global leader in digital infrastructure solutions serving 120 Fortune 500 companies and other leading global enterprises. Presence across United States, Europe, India, Asia Pacific, Middle East and Latin America. Global team of approximately 4,000 professionals. Services include network integration, digital connectivity infrastructure, data center build-outs, modern workplace solutions and cybersecurity.