Black Box Limited (BSE: 500463) (NSE: BBOX), announced its audited financial results for the quarter and full year ended 31st March 2022.
Read More
Dear Shareholders,
Governments, enterprises and individuals everywhere continue to rise to the occasion to prepare themselves in anticipation of the next normal scenario, as they slowly but surely, move beyond the extant challenges. I am happy to share that your Company too has taken several initiatives to help and optimize the planning and execution of the rapid digital journey of our customers across the world.
With the acquisition of Black Box in early 2019, the initial focus was on streamlining the integration between AGC and Black Box and laying a solid foundation for future growth. Since then, your Company continues to strengthen key fundamentals to enable quick and effective transformation as demanded by the dynamic MESSAGE FROM THE CHAIRMAN landscape of technology. Simplified processes have been put in place and ratio-centric metrics across business functions are established. The objective now is to augment the current solution portfolio of AGC and Black Box in the areas of Unified Communications, Contact centers and Cloud services.
This is while enhancing the current solution portfolio across Cloud Computing & Virtualization, Cyber Security, Managed SoC and NoC, Managed Services, IoT, Data Center and Collaboration solutions to both the existing and new customers.
Your Company now also can support its client requests for deployments and support in many more countries. The combination of increased global coverage and lower support costs has enabled your Company to become the global IT infrastructure solutions provider of choice in spirit and form. Staying true to the Glocal approach and address our customer's on-going solution integration needs, your Company continues to on-board geographic focused Systems Integrators, who create the local connect with customers through forward integrated technologies which are specific to that market.
The next normal will present several opportunities in the areas of operations of your Company, and our capable management team, very ably supported by dynamic and enthusiastic executive teams across practices and geographies, are keeping a keen eye on these developments.
Technology will continue to be the key enabler for enterprises and mid-market organizations to showcase their products and solutions, and it will be the key differentiator. Your Company's understanding of customer needs, and its strong relationships with all major technology providers will ensure all customers are provided best-in-class customized solutions and support services.
The last year has been a challenging year in every way, but the indomitable spirit of our teams, a deeply committed leadership, and a set of supportive customers made it a successful year for your Company.
I thank each one of our shareholders and stakeholders, for your faith and support through these trying times, and wish you and your families the very best for the better times ahead.
Stay healthy, Stay Safe!
Best Wishes,
Sujay R. Sheth
Dear Shareholders,
To keep people safe, the pandemic-induced Hybrid Work Model is rapidly spreading and being adopted worldwide. This has placed Your Company in an advantageous position. This new way of working has individuals, societies, businesses, and governments turning to technology to evolve a sustainable hybrid model for their organization. The new worldwide normal is driving our worldwide AGC Black Box team to stay focused on delivering value to our customers through collaborative efforts.
Our leadership's relentless focus on Relationship, Relevance, and Results with our customers, along with the capabilities of our cross functional global teams working together, have helped accelerate our customers' business in the midst of this global pandemic.
In FY21, Your Company delivered consolidated revenues of INR 4,674 Crores, consolidated EBIDTA of INR 352 Crores and Net Profit of INR 78 Crores.
Your Company continues to invest in expanding its breadth of solutions in the areas of digital transformation, cloud, and cyber security to drive growth.
Our presence in 30+ countries has enabled us to facilitate and develop digital solutions across all industries and functions, and to be closer to our customers and their businesses.
Since AGC's acquisition of Black Box in Jan 2019, the Company has successfully executed multifaceted, sustainable, cost-saving initiatives that have resulted in improved recurring cash flows. AGC management implemented changes that enabled Black Box to achieve operational efficiencies, improve product offerings, and introduce new technologies to clients. These initiatives have improved our relevance to customers and we continue to gain wallet share from our blue-chip customer base.
Despite a turbulent year, we ensured business continuity and delivered enhanced value for our customers. This was possible because we acted quickly and decisively during the pandemic, protecting our people, making strategic decisions, and securing consistent performance across our business streams. I am extremely grateful to our employees, our clients, the leadership team, our Board members, and all our well-wishers who have supported us with their trust and guidance through this challenging year.
As we look ahead, we will continue focusing on expanding and enhancing skills of our talent base, making the workforce more flexible, prioritizing strategic workforce planning, and performance management to deliver a differentiated value proposition to our customers.
As I scan our horizon, I am struck by the range of possibilities that beckon and we are uniquely positioned to take advantage of all opportunities that lie ahead.
We aim to create value for a broad range of stakeholders in a sustainable way. Our resilience and empathy are manifest in our ability to serve our customers without interruption, empower our employees to quickly adjust to hybrid working, and provide much-needed relief to our communities in a time of crisis.
Your Company will continue to invest in the talent and technology of the future, more specifically in the areas of Digital Workplace, Data Center, Cloud Services, and Cybersecurity on top of our anywhere, anyplace delivery model.
We continue to pursue our 'GLOCAL' strategy and be our customer's preferred partner of choice in each of the global markets that we operate in. Our endeavor is to provide globally benchmarked technology solutions and services to our customers in their specific geography and customized to their business needs.
Thank you for your support and guidance.
Stay Healthy, Stay Safe!
Warm Regards,
Sanjeev Verma
