Black Box Earnings Call: Key Takeaways
Black Box Capital Markets Day 2026 highlights a successful turnaround, achieving ₹6,322Cr revenue and 9.0% EBITDA margin in FY26. Strategy shifts from complexity to a global digital infrastructure platform.
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Black Box Capital Markets Day 2026 highlights a successful turnaround, achieving ₹6,322Cr revenue and 9.0% EBITDA margin in FY26. Strategy shifts from complexity to a global digital infrastructure platform.
Rico Auto achieved record FY26 revenue of ₹2,477cr despite margin pressure from one-time labor costs and raw material settlement lags.
Rainbow Children’s Medicare reported Q4 FY26 revenue of ₹459.9cr (up 24%) and PAT of ₹78.2cr (up 38%). Strategy focuses on expanding pediatric specialty beds and building a 'hub-and-spoke' model across India.
FY26 was a rough year marked by geopolitical disruptions and US procurement slowdowns. Management pivots to a recovery narrative for FY27, banking on new injectable facilities and US direct marketing to reverse recent de-growth.
Endurance reports strong FY26 performance with ₹14,720 crore consolidated revenue (10% CAGR). Strategy focuses on premiumization and expanding non-2W/3W segments (4W, EV, Aftermarket) to reach 45% turnover by FY30.
Jash Engineering reported Q4 FY26 earnings with consolidated income of ₹757cr, representing 1% YoY growth. Strategy shifts toward exports and major expansion in Saudi Arabia and USA.
Kellton Tech reports moderate FY26 growth, driven by AI and ServiceNow partnerships, but faces geopolitical headwinds and delayed project starts in the US market.
Highway Infrastructure Ltd reported strong FY26 performance with consolidated revenue growing 25.6% YoY to ₹633.4 Cr and PAT increasing 42% YoY to ₹31.8 Cr.
Everest Kanto (EKC) reported FY26 consolidated revenue of ₹1,470.6 Cr and PAT of ₹146.7 Cr, driven by a resilient India business and favorable product mix despite subdued international performance.
Khadim reported Q4 FY26 revenue of ₹83.6cr (decline YoY) with PAT of ₹0.77cr. The company completed demerging its distribution/manufacturing units and is pivoting towards an asset-light, premium-focused retail strategy.
Suyog Telematics investor presentation for Q4 & FY26 highlights its role as a passive telecom infrastructure provider with over 6,000 towers and strategic expansion into the Delhi circle through the acquisition of Lotus Tele Infra.
Jupiter Wagons faced external headwinds in FY26 including global supply chain disruptions and wheelset shortages, yet management remains optimistic about diversification into electric mobility and braking systems.
Apcotex reported FY26 revenue of INR 14,415 Mn with 12.31% EBITDA margin, focusing on capacity expansions in Nitrile Rubber and Latex.
Glenmark delivered strong FY26 growth, hitting gross debt-free status, yet Q4 US margins were squeezed by timing delays and fixed-cost under-absorption.
SKP Bearing Industries reported strong FY26 performance with 53% standalone revenue growth and 46% consolidated. Focus is on global expansion via a French acquisition and new ball manufacturing capacity.
Lumax Group achieved ₹10,045 crore turnover in FY2025, operating 42 plants across 18 entities with a focus on lighting and mechatronics.
Astra delivered steady FY26 performance with ₹1,157cr turnover, meeting guidance. Strategy shifts from component manufacturing to IP-driven systems and DCPP roles for major defense programs.
Aarti Pharmalabs reported Q4 FY26 revenue of ₹580 Cr (+9% YoY) but PAT declined to ₹62 Cr from ₹89 Cr due to higher costs and forex losses.
Suraj Estate achieved FY26 pre-sales of ₹615cr, marginally beating its ₹600cr guidance, but faced analyst scrutiny over rising debt levels and declining residential sales velocity as focus shifts to commercial projects.
Khadim reported Q4 FY26 revenue of ₹83.6cr and PAT of ₹0.77cr. The company completed a demerger of its distribution business and is shifting focus toward premiumization and franchisee-led retail expansion.
Zuari Industries reported FY26 consolidated total income of ₹1,155cr and PAT of ₹105cr, a sharp recovery from a ₹94.4cr loss in FY25. Strategy focuses on deleveraging via Dubai project inflows.
B.R.Goyal Infrastructure reported FY26 revenue of ₹824.59cr (+60.9% YoY) and PAT of ₹44.92cr (+77.7% YoY), driven by EPC execution and toll collection expansion.
Chandan Healthcare delivered robust FY26 growth, pivoting from a regional player to a pan-India diagnostic platform. Management remains aggressively optimistic about franchise scaling and government PPP projects despite high capital intensity.
Rose Merc Ltd reported FY26 revenue of ₹884.8 Mn and Net Profit of ₹56.8 Mn. The company is pivoting towards a diversified conglomerate model spanning sports, fintech, events, and devotional media.
Veranda reported its first full-year PAT-positive performance in FY26, driven by strong growth in commerce and government test prep verticals and successful restructuring.
TechEra H2 FY26 call highlights revenue stagnation due to a canceled ₹110cr Turkish Aerospace contract, offset by new certifications with the IAF and expansion into MRO tooling and HAL projects.
IndiQube delivered record IGAAP-equivalent FY26 revenue of ₹1,469 Cr and ₹125 Cr PAT, though Ind AS reporting shows a notional net loss due to lease accounting adjustments.
Apex Frozen Foods reported strong FY26 performance with 14% revenue growth and 902% PAT growth, driven by firm global shrimp prices and EU market expansion.
Alkem reported strong FY26 results with landmark INR 3,000cr+ EBITDA. Strategy focuses on chronic therapy growth in India and international expansion, particularly with the semaglutide launch.
Star Health delivered strong FY26 performance with GWP growing 16% YoY to ₹20,369 Cr and PAT increasing 16% to ₹911 Cr, supported by improved underwriting profitability and a combined ratio of 98.4%.