Essar Group-backed tech firm Black Box outlines 15% year-on-year growth over 4 years

Black Box has targeted an order book of $1 billion in FY26

Technology firm Black Box's management has said that it plans to grow its organic revenues by around 15 percent annually over the next four years, with the Essar Group-owned firm targeting a revenue of $2 billion by FY29. According to the company's president and CEO, Sanjeev Verma, the company's planned acquisition can deliver around $750 million in incremental revenues.

For the quarter ending June 30, 2025, Black Box reported a topline of Rs 1,387 crore. It had an order book of $176 million, and has targeted to get orders worth $1 billion for the ongoing financial year.

"With a quarterly order book averaging $500 million, the company anticipates closing the fiscal year with a backlog 30-40 per cent higher than last year, providing strong forward visibility," Verma said in an interaction with PTI.

"For FY26, we are guiding revenues in the range of Rs 6,750-7,000 crore. This outlook reflects the momentum in our core business and the steps we are taking to build a stronger foundation for sustained growth," he added.

Verma told the news agency that the company is seeking a "twin-track" strategy of growing the organic business, as well as carrying out selective acquisitions, in order to achieve the scale and resilience in an evolving market.

While Black Box operates in 35 countries, Verma said that the company has identified United States, Europe, and India as its core growth markets.

"In India, growing demand for low-voltage infrastructure, surveillance, and connectivity in industrial and public projects is fueling expansion, supported by cost-optimized delivery frameworks. Europe offers complementary opportunities in enterprise and infrastructure transformation," Verma told PTI.

The PTI report, quoting Verma, said that the company is strengthening its portfolio in emerging technologies such as hyper-converged infrastructure, edge computing, and AI-ready network capabilities that are critical for enterprises and governments. He added that with computing capacity expected to expand by 100 GW in the next five years, the total addressable market may reach $200 billion.

"Black Box aims to capture a meaningful share of this growth while targeting an EBITDA of $200 million by 2029 with margins above 10 percent," he said.