Black Box Limited (BBOX) Fair Value & Analysis
Technology · IN · Market cap ₹170B (≈ $1.8B) · ISIN INE676A01027
What is Black Box Limited really worth?
Below-average quality, and trading another 114% above our fair value of ₹332.20.
Risks
For context
Fair value as of: Aug 13, 2026
From 17 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from ₹185.13 to ₹332.20 (+79.4%) since Aug 2, 2026. Share price −4.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹501.26). The favourable scenario is already priced in.
- Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹218.15 to ₹501.26) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹84.81 – ₹1,078 · fair‑value band ₹218.15 – ₹501.26 · the ₹712.25 price screens above the ₹332.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Black Box Limited (BBOX) currently trades at ₹712.25, while our model-based Fair Value estimate is ₹332.20, implying the stock looks roughly 114.4% overvalued today. The Quality Score stands at 45/100 (below-average quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of ₹373.64 per share, and 0 of the 17 models we run sit above the ₹712.25 price. Bear case: the Asset-Based group reads lowest at ₹48.55, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Black Box Limited generated revenue of ₹63.2B at a net margin of 3.4%. Revenue grew 9.5% year over year. It earns a return on equity of 21.3%. Net debt stands at ₹6.1B. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹218.15 (bear case) to ₹501.26 (bull case); at ₹712.25, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at −53%, BBOX screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹5.04 per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 17 models by family
Widest divergence: DCF Models (₹373.64) versus Dividend Discount (₹15.25). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 65
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Black Box Limited provides information and communications technology solutions in India, the United States, and internationally. It operates through System Integration, Technology Product Solution, and Others segments.
Full company description
Black Box Limited provides information and communications technology solutions in India, the United States, and internationally. It operates through System Integration, Technology Product Solution, and Others segments. The company's product portfolio includes data centers, digital workplace, and connected buildings; keyboard, video and mouse (KVM), cables, Internet of Things (IoT), and audio video products; and IP-led hardware offerings under the Black Box brand, including KVM switches, OEM-distributed equipment, and contract-manufactured solutions. It also provides connectivity infrastructure, including fiber connectivity, physical security, surveillance, passive infrastructure, and structured cabling; enterprise networking with local and wide area, cloud, and wireless and private LTE networks; customer and employee experience, and advisory services; and cybersecurity solutions. In addition, the company offers application development and integration, field and dispatch, project and deployment, training, and consulting and design services; and managed services, such as staff augmentation, support, service desk, and X-as-a-service. It serves broadcast, data center, education, finance, government, healthcare, manufacturing and industrial, retail, transportation, utilities, power, oil and gas, workspaces, entertainment and leisure venues, military and defense, and public safety industries under the AlertWerks, Boxilla, ControlBridge, DKM 4K, Emerald, Freedom II KM, iCompel, MCX AVoIP 10G 4K, MediaCento AVoIP 1G HD/4K, Radian, and VideoPlex4000 brands. The company was formerly known as AGC Networks Limited and changed its name to Black Box Limited in November 2021. Black Box Limited was founded in 1976 and is based in Navi Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Black Box Limited reported revenue of ₹63.2B in FY2026 versus ₹53.7B in FY2022, a compound +4.2%/yr. Reported net income was ₹2.2B in FY2026, compounding +31.5%/yr from FY2022.
of which total revenue +24.9 % · buybacks/dilution −1.9 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
BBOX screens 114% overvalued. Compare with SAP SE →
Peer Group
Software - Application · 691 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Application median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SAP SE SAP | €191.32 | €169.59 | −11% |
| Shopify Inc SHOP | C$209.78 | C$28.76 | −86% |
| Uber Technologies, Inc UBER | $78.82 | $43.66 | −45% |
| Salesforce, Inc CRM | $252.05 | $249.28 | −1% |
| ServiceNow, Inc NOW | $138.43 | $43.73 | −68% |
| Cadence Design Systems, Inc CDNS | $340.39 | $112.57 | −67% |
| Snowflake Inc SNOW | $329.11 | $42.27 | −87% |
| Adobe Inc ADBE | $289.15 | $454.04 | +57% |
| Automatic Data Processing, Inc ADP | $284.68 | $177.51 | −38% |
| Intuit Inc INTU | $348.00 | $363.46 | +4% |
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