BLACK BOX LIMITED — Earnings Release 2021

Nov 16, 2021

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AGC/SD/SE/2021/178

AGC Networks Limited 501, 5[th] Floor, Building No. 9, Airoli Knowledge Park, MIDC Industrial Area Airoli, Navi Mumbai 400 708 T - +91 22 6661 7272 www.agcnetworks.com

November 16, 2021

To,

Corporate Relationship Department Bombay Stock Exchange Limited P.J. Tower, Dalal Street, Fort,Mumbai 400001	Corporate Relationship Department The National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra East,Mumbai 400051

Sub: Press Release for Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter/period ended September 30, 2021

Ref: AGC Networks Limited – Scrip Code: 500463 NSE Symbol: AGCNET

Dear Sir/Madam,

Please find attached herewith the Press release on the Unaudited Financial Results of the Company (Standalone and Consolidated) for the quarter/period ended September 30, 2021.

This is for your information, record and necessary action.

Thanking you,

Yours Faithfully,

For AGC Networks Limited

Digitally signed by Aditya Goswami Aditya DN: cn=Aditya Goswami, c=IN, Goswami o=AGC NetworksLimited Date: 2021.11.16 11:33:00 +05'30'

Aditya Goswami Company Secretary & Compliance Officer

Encl: A./a.

Registered Office: 501, 5th Floor, Building No.9, Airoli Knowledge Park, MIDC Industrial Area, Airoli, Navi Mumbai - 400 708 CIN: L32200MH1986PLC040652

T +91 22 6661 7272 F +91 22 66617405

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AGC Networks Ltd.

Mumbai, November 15, 2021: AGC Networks Limited (BSE: 500463) (NSE: AGCNET), announced its un-audited financial results for the quarter and six months ended 30[th] September 2021

Financials at a Glance (in Rs. Crs):

Highest ever quarterly revenue in the history of AGC

Particulars (Rs. Crs. )	Q2FY22	Q2FY21		Q1FY22		H1FY22	H1FY21
		Restated					Restated
Revenue from Operations	1,345	1,218		1,195		2,541	2,212
Gross Profit	383	391		356		739	707
Gross Profit Margin	28.4%	32.1%		29.8%		29.1%	32.0%
EBITDA	55	104		57		113	162
EBITDA Margin	4.1%	8.6%		4.8%		4.4%	7.3%
PAT	10	34		31		42	40
PAT Margin %	0.8%	2.8%		2.6%		1.6%	1.8%
Basic EPS	3.23	11.57*		9.57		12.79	13.39*

‘CRISIL Ratings’ has upgraded Credit Rating of the Company

Facility	Revised Rating	Earlier Rating
Total Bank Loan Facilities Rated	Rs. 128.5 Crores	Rs. 128.5 Crores
Long Term Rating	CRISIL BBB/Stable	CRISIL BBB-/Stable
Short Term Rating	CRISIL A3+	CRISIL A3

✓As on October 31, 2021, the total limit utilization (including non fund based) stands at Rs. 26 Crores out of the total limits of Rs. 128.5 Crores in India

✓The ratings continue to reflect AGC's established market position in the IT infrastructure solutions business as well as healthy and diversified revenue profile marked by diverse end user industries and established client base

*Normalised for impact of restatement

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AGC Networks Ltd.

Deal Wins during the quarter

Transaction Value	Clients
$550 Mn	5 Year IT infrastructure services contract renewal from a leading American multinational investment bank and financial services company
$20.88 Mn	Connected Building solutions at more than 2000 sites for the largest home improvement retailer in the US
$8.1 Mn	Enterprise Networking & Connected Building solutions for a global leader in the baking industrywithpresence in 33 countries
$6 Mn	Managed Services and Digital workplace solutions for integrated healthcare delivery systemserving patients throughout the Chicago metropolitan area.
$3.5 Mn	Digital workplace solution, maintenance renewal, Enterprise Networking solution for an American medicalfacility
$2.1 Mn	Data center creationfor theworld’s largest social media networking enterprise
$1.9 Mn	Enterprise Networking & Connected Building solutions for an American multinational technology corporation
$0.9 Mn	Secure KVM solutions for the leading provider of IT infrastructure solutions in Europe
$0.66 Mn	Secure KVM solutions for a US Govt Defence agency

Commenting on the results and performance Mr. Sanjeev Verma, Whole Time Director, AGC Networks said,

“We are confident of delivering broad-based revenue growth on the back of strong deal wins and healthy deal pipeline. During the quarter we have won largest order in the history of AGC from a leading bank in America. This is a testament of our efforts of building a truly Glocal company over the years.

During the quarter, we have also strengthened our foothold in cybersecurity capabilities to offer wider range of services to our customers. Our focus will be on client-mining to tap into cross-sell and upsell opportunities to the current customers.”

Mr. Deepak Kumar Bansal, Executive Director and CFO of AGC Networks , commented,

“The Industry as well as our Company witnessed rising costs, labor & components shortages and supply chain challenges. During the quarter, we have focused on strict control over other expenses which has led to arrest in our profitability margins.

However, with good order wins and heathy deal pipeline we are confident to move beyond the extant challenges”

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AGC Networks Ltd.

About AGC Networks Ltd.

AGC Networks (AGC) is a Global Solution Integrator representing the world’s best brands in Unified Communications, Data Center & Edge IT, Cyber Security, and Digital Transformation & Applications including SimpleEdge and Technology Product Solutions (TPS) from the portfolio of Black Box Corporation; to evolve the customer’s digital landscape. AGC’s ability to tailor solutions is strengthened through delivery of seamless Customer Support Services .

AGC is the customer’s trusted go-to technology solution integrator to architect, deploy, manage and secure their IT environment through customized solutions and services that accelerate their business.

With dominance in India in the Enterprise Communications space, the combined entity is a strong player in the U.S and Europe markets and has a 4,000 strong team base serving clients worldwide through an expanded offerings portfolio and an extended geographical reach across 30+ countries including North America, Latin America, Europe, Asia Pacific, Middle East & Africa and SAARC countries.

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

For further information, please contact

Company : Investor Relations Advisors :

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Strategic Growth Advisors Private Limited

AGC Networks Ltd.

CIN: U74140MH2010PTC204285 CIN: L32200MH1986PLC040652 Mr. Rahul Agarwal / Ms. Ami Parekh Mr. Deepak Bansal rahul.agarwal@sgapl.net / ami.parekh@sgapl.net deepak.bansal@agcnetworks.com +91 982143 8864 / +91 80824 66052

www.agcnetworks.com

www.sgapl.net

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