IT firm Black Box targets 15% annual growth, aims for $2 bn revenue by FY29

The company had posted revenue of ₹1,387 crore, about $160 million, in the first quarter ended June 30, 2025

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IT company Black Box expects 15 per cent year-on-year growth for the next four years as it eyes to cross the $2 billion revenue mark by fiscal year 2029, a senior company official said.

Black Box President and CEO Sanjeev Verma told PTI that the company expects that its planned acquisition may add up to $750 million in incremental revenues.

"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.

The company had posted revenue of Rs 1,387 crore, about $160 million, in the first quarter ended June 30, 2025.

"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," Verma said.

The BSE-listed digital infrastructure solutions provider and part of the Essar Group has unveiled an ambitious roadmap to expand its global footprint over the next three to four years.

"We are executing a twin-track strategy of compounding organic growth and selective acquisitions, giving us the scale and resilience needed in a rapidly evolving market," Verma said.

Operating in more than 35 countries, Black Box has identified the US, India, and Europe as its core growth markets.

The US continues to anchor large-scale, complex systems integration projects that serve as a global delivery model.

"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 said.

He 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 increasingly critical for enterprises and governments.

Verma said that the computing capacity is expected to expand by 100 gigawatts over the next five years, representing a $200 billion addressable market.

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

Black Box had an order book of $176 million in the June 2025 quarter and has set a target to book orders worth $1 billion in FY26.