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The Big Black Box Boom: How ₹15.5 Billion in Q4 Orders Is Changing the Game


Updated: April 24, 2025 12:05

Image Source: Upstox
Black Box Ltd. has charged up the tech industry with a star performance in Q4 FY24, winning new order bookings worth ₹15.5 billion. This spike in new deals—across digital infrastructure, cybersecurity, and international telecom—emphasizes the company's strong market position and positions the company for a dynamic FY25.
 
Key Highlights:
  • Key Q4 Order Wins: The firm won orders worth $80 million (around ₹15.5 billion) across industries, including three major digital infrastructure deals in the US for a hyperscaler leader, a repeat order worth $30 million from a marquee customer, a $12 million cybersecurity deal from a large municipal corporation, and wins in telecom and airport network integration.
  • Profitability Surges: Q4 FY24 EBITDA surged 28% year-on-year to ₹122 crore, with margins widening to 8.2%. Full-year EBITDA increased 59% to ₹428 crore, and profit after tax surged 5.8 times to ₹138 crore, demonstrating a strong emphasis on high-margin business and operational efficiency.
  • Strategic Customer Focus: Black Box continued to shed low-value, long-tail customers, focusing even more sharply on high-growth, high-value contracts and creating a strong, future-proofed order book.
  • Resilient Business Model: Leadership emphasized a robust deal pipeline and optimism for growth to continue in the long term, with digital infrastructure and demand driven by AI set to continue driving expansion.
  • Market Outlook: With an order book looking healthy and a pick-up across business segments, Black Box has the potential to continue margin strengthening and profitability during FY25 and beyond.
Sources: Essar, Kaumi Marg, Black Box Investor Presentation

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