BLACK BOX LIMITED — Earnings Release 2023

Jun 1, 2023

Telephone: +91 22 6661 7272 | Email: info.india@blackbox.com

BBOX/SD/SE/2023/36

June 1, 2023

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

Sub: Press Release for Audited Financial Results (Standalone and Consolidated) of the Company for the quarter/year ended March 31, 2023

Ref.: Scrip code: BSE: 500463/NSE: BBOX

Dear Sir/Madam,

Please find attached herewith the Press Release for Audited Financial Results (Standalone and Consolidated) of the Company for the quarter/year ended March 31, 2023.

This is for your information, record and necessary dissemination to all the stakeholders.

Thanking You,

.

For Black Box Limited

(Formerly Known as AGC Networks Limited)

Digitally signed by Aditya Goswami Aditya DN: cn=Aditya Goswami, o=Black Box Goswa Limited, ou, email=aditya.goswami @agcnetworks.com, c=IN mi Date: 2023.06.01 10:32:55 +05'30'

Aditya Goswami

Company Secretary & Compliance Officer

Encl.: A/a.

BLACK BOX LIMITED (Formerly AGC Networks Limited)

~~Registered Office: 501, 5th Floor, Building No. 9, Airoli Knowledge Park, MIDC Industrial Area, Airoli, Navi Mumbai 400 708, India~~ BLACKBOX.COM | CIN: L32200MH1986PLC040652 | Tel: +91 22 6661 7272

==> picture [121 x 16] intentionally omitted <==

Black Box Limited

Mumbai, June 1, 2023: Black Box Limited (BSE: 500463) (NSE: BBOX), announced its audited financial results for the quarter and year ended 31[st] March 2023

Revenues for FY23 grew by 17% YoY to Rs. 6,288 Crs supported by consistent increase in order book

==> picture [326 x 177] intentionally omitted <==

----- Start of picture text -----

In Rs. Crores
REVENUE
1,672 1,682 6,288
1,562
1,442 5,370
1,372
Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 FY22 FY23
----- End of picture text -----

• Revenues for FY23 grew by 17% YoY to Rs. 6,288 Crs

• ▪ Strong quarterly revenues with continued growth momentum

• Growth in revenue is on account of strong order book reflected in new order wins each quarter and larger share of wallet from existing customers

In Rs. Crores

• EBITDA ▪ During FY23 EBITDA margins remained under pressure due to Inflationary environment, supply

• 5.5% 3.9% 3.2% 4.3% 5.6% 4.8% 4.3% chain challenges and project

• 95 260 269 delays

• 80 ▪ Focus on cost rationalization and 72 improved productivity have

• 54 50 started to yield positive results increasing our EBITDA margins on a sequential basis over the last couple of quarters

• Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 FY22 FY23 ▪ We expect this improvement trend in EBITDA margins to

• Margin continue throughout FY24

*excludes gain on cash flow hedges of Rs. 20 Crs

In Rs. Crores

PAT

• 23 86 ▪ PAT for Q4FY23 saw significant

• 16 15 improvement on sequential basis 8 ▪ However, PAT in FY23 was impacted by higher interest costs and severance payouts to

• 29 improve our onshore-offshore ratios

• -23 ▪ We expect to deliver much

• Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 FY22 FY23 stronger PAT in FY24

1

==> picture [121 x 16] intentionally omitted <==

Black Box Limited

Deal Wins during the quarter

Transaction Value	Clients
$61.0 Mn	Data Center and In-Building 5G/OnGo solutionsfor an American online social media and social networkingservice
$8.0 Mn	Connected Building & Digital Workplace solutionsfor an American multinational retailgiant
$6.7 Mn	Connected Building and On-Demand solutionsfor an American multinational corporation and technologycompany
$4.2 Mn	Connected Building, Enterprise Networking solutionsfor a Mexican multinational food company
$3.5 Mn	Global Contract for Connected Building and Enterprise Networking solutions for one of the largest American banks
$3.4 Mn	Maintenance Renewalfor an American chain of high-end department stores
$3.0 Mn	Data Center Solutionsfor a major social media platform for business professionals
$2.1 Mn	Emerald KVM Solutionsfor a Japanese multinational electrical engineering and software company
$2.0 Mn	Digital Workplace solutionsfor a telecom management and consulting company
$2.0 Mn	In-Building 5G/OnGo solutionsfor one of the best hospitals in the United States
$1.5 Mn	In-Building 5G/OnGo solutionsfor a nationally ranked academic medical center in the US

Commenting on the results and performance Mr. Sanjeev Verma, Whole Time Director, Black Box said,

“We are happy to report a 17% growth in our revenues for FY23 on account of strong order book which is reflected in new order wins for each of the quarter and our efficient execution capabilities. Consistent growth in order book despite the difficult economic environment is a testimony of the strength of our business model. We are optimistic that we will continue to see the same momentum in the coming quarters.”

Mr. Deepak Kumar Bansal, Executive Director and Global Chief Financial Officer of Black Box , commented,

“FY23 EBITDA margins were impacted by high inflationary environment, supply chain challenges and project delays. However, our margins started improving on sequential basis for last couple of quarters owing to the cost rationalization measures. We expect the trend of improvement in margins to continue and are confident of delivering much stronger profitability numbers for FY24.”

2

==> picture [121 x 16] intentionally omitted <==

Black Box Limited

About Black Box Ltd.

Black Box Limited (formerly AGC Networks Limited) is a trusted IT solutions provider delivering cutting-edge technology solutions and world-class consulting services to businesses around the globe.

The breadth of Black Box’s global reach and the depth of expertise accelerate customer success by bringing people, ideas, and technology together to solve real-world business problems.

Black Box’s IT infrastructure solutions, services, and products enable secure, flawless connectivity and meaningful collaboration for businesses in every major market sector on six continents.

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 :

==> picture [145 x 26] intentionally omitted <==

==> picture [207 x 26] intentionally omitted <==

Strategic Growth Advisors Private Limited

Black Box Limited CIN: U74140MH2010PTC204285

CIN: L32200MH1986PLC040652 Mr. Rahul Agarwal / Mr. Karan Thakker rahul.agarwal@sgapl.net / Mr. Deepak Bansal karan.thakker@sgapl.net deepak.bansal@agcnetworks.com +91 982143 8864 / +91 81699 62562

www.blackbox.com

www.sgapl.net

3