Black Box Limited (BBOX) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Black Box Limited Q2 Results Date and Time

The Board of Directors will meet on Friday, November 13, 2026, to approve draft unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026, under Regulation 29(1) of SEBI (LODR). The trading window for insiders is closed until 48 hours after results publication.

Separately, the company has declared a final dividend of Rs. 1 per equity share (50% of Rs. 2 face value) for FY26, with a record date of August 28, 2026 and payment on September 23, 2026. Total outflow is Rs. 17.75 Cr, a 50% payout.

What to expect from Black Box Limited's Q2 FY27 results

The Nov 13 call is the designated checkpoint on FY27 guidance, with CFO Deepak Kumar Bansal having promised 'full clarity after when we announce the quarter two results' on the US$1.3–1.4 Bn exit-backlog guide that he flagged as 'a little bit conservative'. The demand backdrop strengthened through the quarter — Amazon raised its 2026 capex projection to $220 Bn, Google to $195–205 Bn, and Meta to as much as $145 Bn — and the US$131 Mn Tier-1 hyperscaler win announced August 12, 2026 sits inside the booking window.

The offset is conversion, not demand: equipment lead times average ~33 weeks with makers imposing ~20% price re-impositions on old purchase orders, and US data-centre grid frictions escalated, including Texas pausing new grid approvals from August 4, 2026. With 2S Brazil consolidating a full quarter (vs two months in Q1, when it contributed Rs. 60 Cr) and Wind River guided at Rs. 40–60 Cr per quarter, revenue should trend above Q1's Rs. 1,718.50 Cr against the FY27 guide of Rs. 7,800–8,000 Cr.

On margins, management has framed Q2 as 'slightly depressed' by talent and training investments before operating leverage lifts Q4 FY27 toward the 10% EBITDA margin target, against guided FY27 margins of 9.3–9.4%. Exceptional items — Rs. 18.91 Cr in Q1 FY27 — are guided to run 'at least another two quarters in FY27', with severance expected to 'come down drastically in going three quarters'.

Key Things To Watch

FY27 guidance scorecard on the Nov 13 call: Management promised fuller clarity on backlog at this call.

• FY27 order bookings — US$1.3–1.5 Bn — track H1 FY27 cumulative bookings vs the US$300–350 Mn per quarter trajectory, and whether the Aug 12 US$131 Mn hyperscaler win is in booked backlog
• FY27 exit backlog — US$1.3–1.4 Bn — CFO said the guide 'may be a little bit conservative' with orders possibly added between October and March, and promised 'full clarity after when we announce the quarter two results'
• FY27 revenue Rs. 7,800–8,000 Cr, EBITDA Rs. 725–750 Cr at 9.3–9.4% margin, PAT Rs. 300–325 Cr — watch whether Q2 margin is 'slightly depressed' by talent investments as the analyst framed, and whether the 10% Q4 FY27 exit ('in that range or higher') is reaffirmed

2S Brazil, TPS and Wind River run-rates

• 2S — ~Rs. 500 Cr annualised revenue / Rs. 50 Cr EBITDA run-rate in FY27; Rs. 60 Cr delivered in Q1 and the 90-day integration window from the May 1, 2026 closing has lapsed — check synergy capture
• TPS — ~20% FY27 growth and loss reduction from the Q1 FY27 segment loss of Rs. 14.11 Cr
• Wind River — check realised quarterly revenue vs the Rs. 40–60 Cr expectation against the ~$30 Mn annualised target scaling from Q3 FY26

Exceptional items, supply chain and working capital

• Exceptional items — Q2 net exceptionals vs Rs. 18.91 Cr in Q1; guidance of 'at least another two quarters in FY27' may be extended again, with severance guided to decline 'drastically'
• Supply chain — whether fibre/cable constraints that burned $40–50 Mn of backlog have fully eased, as management predicted
• Working capital — DSO normalisation toward the guided 55–60 days against receivables of Rs. 1,153.43 Cr at March 31, 2026, and any update on FEMA condonation applications and penalty exposure

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Frequently Asked Questions

Why is Black Box's Q2 FY27 earnings call important for its FY27 guidance?

Management said backlog clarity improves 'after when we announce the quarter two results', making the November 13 call the designated checkpoint on the FY27 exit-backlog guidance of US$1.3–1.4 Bn. The CFO had also flagged that this guidance 'may be a little bit conservative' with orders possibly added between October and March.

When does Black Box expect to reach a 10% EBITDA margin?

Management targets a 10% EBITDA margin for FY27, with Q4 FY27 'in that range or higher'. The formal FY27 guidance of 9.3–9.4% reflects planned investments in talent and training for large-scale backlog execution.

How long will Black Box's exceptional items continue?

Management guided that exceptional items (severance and lease foreclosure) will continue for 'at least another two quarters in FY27', with declining magnitude. Q1 FY27 exceptionals were Rs. 18.91 Cr, and severance is expected to 'come down drastically in going three quarters'.

Is Black Box on track with its 2S Brazil acquisition targets?

2S Inovações Tecnológicas, acquired for Rs. 496.59 Cr effective May 1, 2026, contributed Rs. 60 Cr in Q1 FY27 from two months of consolidation. Management targets ~Rs. 500 Cr annualised revenue and a Rs. 50 Cr EBITDA run-rate in FY27, and the 90-day integration window from closing has lapsed.

Is Black Box's revenue growing?

Revenue rose to Rs. 1,718.50 Cr in Q1 FY27 from Rs. 1,386.74 Cr in Q1 FY26, up ~24% YoY — which management called its highest-ever quarterly revenue. Growth is supported by an all-time-high order backlog of Rs. 8,986 Cr (~US$949 Mn), up 83% YoY.