AGC Networks Ltd. (AGC), incorporated in 1986 by Tata Telecom Pvt. Ltd. to manufacture telecommunication equipment. It is currently held by Essar Telecom Ltd. Over the years, AGC evolved into an information and communication (ICT) solutions provider and integrator with a differentiated vertical approach in business communication systems, applications and services mainly within India.The company is present at multiple geographies such as Middle East, Africa, North America, Australia, New Zealand, Singapore, Philippines and UK servicing over 8000+ customers.[1][2]
Business Segments FY24System Integration (86%):Offerings under this segment include Unified Communication, Data Center & Edge IT, Cyber Security, Digital Solutions & Applications, and Seamless Customer Support and managed services.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | L&T Technology | 3913.70 | 32.27 | 41481.02 | 1.37 | 303.10 | 1.81 | 2923.50 | 10.20 | 28.29 | 11751.40 | 16.53 | 1283.74 | 328.24 | 6.68 | 13.92 | 0.10 |
| 2. | Inventurus Knowl | 1697.35 | 47.81 | 29137.27 | 0.00 | 180.72 | 59.93 | 781.09 | 21.52 | 27.20 | 2902.31 | 31.55 | 609.74 | 180.72 | 12.99 | 16.71 | 0.34 |
| 3. | Tata Technolog. | 652.00 | 38.19 | 26455.85 | 1.28 | 165.50 | 5.14 | 1323.33 | 2.07 | 25.80 | 5170.65 | 16.93 | 693.29 | 165.50 | 7.37 | 11.06 | 0.07 |
| 4. | Sagility | 53.22 | 31.14 | 24913.96 | 0.10 | 250.83 | 113.76 | 1658.50 | 25.17 | 9.58 | 6218.99 | 24.55 | 798.87 | 250.83 | 2.86 | 5.08 | 0.14 |
| 5. | Affle 3i | 1723.65 | 57.81 | 24247.79 | 0.00 | 110.51 | 20.13 | 646.72 | 19.13 | 16.82 | 2471.38 | 22.30 | 419.30 | 110.51 | 7.47 | 11.09 | 0.01 |
| 6. | Netweb Technol. | 3377.00 | 141.80 | 19131.99 | 0.08 | 31.43 | 20.05 | 303.72 | 20.98 | 32.45 | 1353.57 | 14.29 | 134.84 | 31.43 | 32.99 | 15.15 | 0.03 |
| 7. | Cyient | 1201.20 | 23.60 | 13347.12 | 2.19 | 142.90 | -34.47 | 1781.00 | -3.68 | 16.58 | 7328.40 | 13.90 | 563.86 | 117.36 | 2.38 | 8.87 | 0.08 |
| 8. | Black Box | 506.50 | 394.68 | 8634.91 | 0.19 | 3.23 | 276.77 | 116.77 | 44.00 | 3.95 | 404.35 | 7.44 | 21.88 | 4.49 | 18.55 | 1.97 | 0.06 |
| – | Median: 61 Co. | 310.65 | 29.27 | 796.78 | 0.0 | 10.28 | 21.41 | 115.47 | 21.89 | 15.83 | 268.98 | 14.29 | 29.37 | 9.97 | 3.19 | 9.55 | 0.07 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 78.97 | 105.77 | 96.96 | 84.28 | 94.72 | 103.96 | 103.69 | 84.18 | 81.09 | 87.13 | 124.46 | 75.99 | 116.77 |
Expenses | 77.71 | 93.22 | 98.31 | 82.26 | 95.24 | 98.39 | 111.26 | 84.48 | 81.63 | 83.90 | 107.42 | 73.77 | 109.18 |
Operating Profit | 1.26 | 12.55 | -1.35 | 2.02 | -0.52 | 5.57 | -7.57 | -0.30 | -0.54 | 3.23 | 17.04 | 2.22 | 7.59 |
Other Income | 1.06 | 1.00 | 0.56 | 1.02 | 0.70 | 11.27 | 0.99 | 0.94 | 1.18 | 1.73 | 2.12 | 1.89 | -0.42 |
Profit before tax | -1.36 | 10.41 | -5.08 | -0.46 | -3.76 | 13.13 | -10.02 | -2.63 | -2.33 | 1.49 | 15.45 | 1.18 | 3.28 |
Tax % | 2.94% | 0.00% | 0.39% | 8.70% | -0.80% | 73.42% | 42.12% | -1.90% | 6.01% | 2.01% | -0.13% | 1.69% | 1.52% |
Net Profit | -1.40 | 10.41 | -5.10 | -0.50 | -3.73 | 3.49 | -14.24 | -2.58 | -2.47 | 1.46 | 15.47 | 1.16 | 3.23 |
EPS in Rs | -0.08 | 0.62 | -0.30 | -0.03 | -0.22 | 0.21 | -0.85 | -0.15 | -0.15 | 0.09 | 0.91 | 0.07 | 0.19 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 305 | 340 | 313 | 246 | 303 | 307 | 309 | 250 | 294 | 363 | 387 | 377 | 404 |
Expenses | 421 | 353 | 329 | 253 | 274 | 298 | 291 | 236 | 283 | 347 | 387 | 357 | 374 |
Operating Profit | -116 | -13 | -16 | -7 | 29 | 8 | 18 | 13 | 11 | 16 | -0 | 19 | 30 |
Other Income | 9 | 44 | 8 | 15 | 26 | 12 | 6 | 7 | 5 | 4 | 14 | 6 | 5 |
Interest | 29 | 24 | 24 | 22 | 21 | 17 | 18 | 17 | 6 | 8 | 7 | 5 | 6 |
Depreciation | 9 | 5 | 5 | 2 | 2 | 2 | 7 | 5 | 4 | 7 | 8 | 8 | 8 |
Profit before tax | -145 | 2 | -37 | -16 | 32 | 1 | -2 | -2 | 6 | 6 | -1 | 12 | 21 |
Net Profit | -145 | -0 | -37 | -16 | 32 | 1 | -2 | -2 | 6 | 6 | -15 | 12 | 21 |
EPS in Rs | -10.20 | -0.03 | -2.58 | -1.14 | 2.23 | 0.09 | -0.11 | -0.11 | 0.35 | 0.35 | -0.89 | 0.70 | 1.26 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 143% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 28 | 28 | 28 | 28 | 28 | 30 | 30 | 33 | 33 | 34 | 34 | 34 | 34 |
Reserves | 65 | 65 | 29 | 21 | 43 | 63 | 59 | 244 | 252 | 296 | 281 | 427 | 431 |
Borrowings | 148 | 152 | 153 | 134 | 131 | 98 | 113 | 22 | 53 | 55 | 39 | 34 | 27 |
Other Liabilities | 295 | 177 | 164 | 144 | 136 | 154 | 135 | 131 | 118 | 136 | 122 | 168 | 158 |
Total Liabilities | 537 | 423 | 374 | 327 | 339 | 345 | 337 | 430 | 456 | 520 | 475 | 662 | 650 |
Fixed Assets | 19 | 12 | 12 | 11 | 9 | 8 | 24 | 11 | 33 | 34 | 31 | 26 | 28 |
Gross Block | 89.27 | 73.08 | 64.48 | 64.15 | 64.12 | 57.01 | 80.00 | 45.82 | 64.05 | 68.23 | 67.30 | 58.98 | – |
Accumulated Depreciation | 70.71 | 60.87 | 52.25 | 52.73 | 54.76 | 48.53 | 55.85 | 34.56 | 30.92 | 34.57 | 36.19 | 32.60 | – |
CWIP | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 |
Investments | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 194 | 194 | 234 | 234 | 306 | 306 |
Other Assets | 467 | 362 | 313 | 267 | 281 | 288 | 264 | 224 | 229 | 250 | 210 | 330 | 316 |
Total Assets | 537 | 423 | 374 | 327 | 339 | 345 | 337 | 430 | 456 | 520 | 475 | 662 | 650 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 82 | -36 | -7 | 15 | 33 | 58 | 24 | 23 | 15 | 15 | 23 | -24 |
Cash from Investing Activity | 24 | 53 | 33 | 4 | 4 | -22 | 4 | -119 | -4 | -46 | -2 | -76 |
Cash from Financing Activity | -117 | -18 | -23 | -23 | -37 | -36 | -27 | 99 | -14 | 31 | -21 | 122 |
Net Cash Flow | -10 | -2 | 3 | -4 | -0 | -0 | 0 | 3 | -3 | -0 | -0 | 22 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 202 | 133 | 121 | 113 | 125 | 112 | 91 | 98 | 103 | 119 | 92 | 149 |
Inventory Days | 132 | 45 | 33 | 46 | 69 | 49 | 30 | 63 | 21 | 26 | 30 | 37 |
Days Payable | 376 | 278 | 226 | 259 | 200 | 219 | 192 | 324 | 273 | 231 | 213 | 281 |
Cash Conversion Cycle | -42 | -100 | -72 | -100 | -6 | -59 | -71 | -164 | -149 | -86 | -91 | -95 |
Working Capital Days | -151 | -34 | -92 | -128 | -31 | -22 | -42 | 30 | 39 | 44 | 43 | 92 |
ROCE % | -30% | -3% | -6% | -2% | 17% | 6% | 9% | 7% | 4% | 3% | 1% | 4% |
Direct from BSE filings, auto-summarised
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Stock Analysis
Black Box Limited, an ICT solutions provider, operates globally and in India, offering Unified Communication, Data Center & Edge IT, and Cyber Security services.
The company's System Integration segment, accounting for 86% of its business, offers Unified Communication, Data Center & Edge IT, Cyber Security, and Digital Solutions & Applications, alongside customer support and managed services.
Currently no data available for Order Book.
Based on company data, concerns include stock trading at a high price-to-book ratio, poor historical sales growth over five years, low recent return on equity, increased debtor and working capital days, and potentially high borrowing costs.
Currently no data available for Key Dates To Watch.
Corporate Announcements
