Our remarkable success in boosting our top line stands as a testament to the collective strength of our team. Their unwavering dedication to delivering unparalleled customer experiences, ability to implement innovative solutions, and exceptional service have not only fortified our customer relationships but also positioned us for continuous growth. This revenue surge is a direct result of a robust order book, highlighted by new wins and a larger share of our existing customers’ wallets.

The acquisition of Black Box Corporation has been nothing short of transformative, opening new avenues for us to serve our global customer base in a multitude of impactful ways. This strategic leap has expanded our capabilities and skill sets, culminating in a fortified portfolio of products, solutions, and services. The geographic breadth of our presence in over 35 countries has substantially bolstered our capacity to partner with clients and crafting, delivering, and overseeing their evolving digital infrastructure requirements.

Throughout our journey, your company has forged ahead as a trailblazer, laying the foundations for customer digital infrastructure and catalyzing business transformation. Over four decades, we’ve emerged as the dependable choice for IT solutions and services, reinforcing digital infrastructure, from networks to customer experiences, across continents and diverse cultures. Our unwavering focus spans Consulting, Design, Deployment, and the safeguarding of our customers’ IT and communication infrastructure, enabling businesses to fortify their core objectives of accelerating their businesses.

Harnessing our expertise, innovation, and customer-centric ethos, we stand in an advantageous position to cater to the burgeoning demands of enterprises in the domains of cybersecurity, cloud, and data center solutions. Noteworthy wins across our business areas, with a significant contribution from the data center segment, are a testament to our focused investments and position us favorably in a data center market projected for substantial growth, particularly within the hyperscale and cloud domains.

In the era of artificial intelligence (AI), we find ourselves at the cusp of a transformative movement. Recent strides in AI present the perfect opportunity to re-evaluate our utilization of AI in enhancing customer experiences. This recalibration seeks to strike the delicate balance between human interactions and digital interfaces. Our approach envisions equipping human agents with AI-driven tools to amplify productivity and decision-making, while ensuring the continuity of experience across interactions. Black Box’s judicious use of AI, spanning embedded chat, Visual IVR, Speech IVR, and more, strikes the optimal equilibrium for our customers.

During the fiscal year 2023, we encountered initial margin challenges amidst the global turmoil. Our endeavors in cost rationalization and enhanced productivity bore fruit, with margins exhibiting sequential improvement. Our unwavering commitment to enhancing operational profitability and margins remains steadfast. Crucial drivers for this performance enhancement encompass optimized customer operations, leveraging our Center of Excellence in India, refining procurement and subcontractor management, ensuring cost efficiency through the right shore strategy, facility optimization, ERP consolidation, and repricing contracts for improved yields.

The bottom line experienced a pinch due to escalated interest costs and severance payouts. As a ratio-centric entity, we undertook quick measures to rebalance our on-shore: off-shore metrics resulting in some severance costs. We anticipate normalization in our operating costs resulting in improved profitability going forward. Over the past couple of years, our concerted efforts have paved the way for a pivotal juncture in the company’s growth trajectory.

Our growth blueprint is characterized by a two-fold approach: organic and inorganic expansion. Organically, our investments are meticulously channeled into high-growth areas encompassing data centers, cloud offerings, and cybersecurity and IoT underscored by an elevated focus on cross-selling. The inorganic facet revolves around the careful selection of acquisitions that not only scale and bolster revenues but also seamlessly align with our existing business, extending our reach to new customers, diversifying geographic locations, and fortifying capabilities. The swift transformation and attainment of short-term synergies underpin the essence of our acquisition philosophy.

Our “GLOCAL” approach, encapsulated in the mantra of “Think Global, Act Local,” serves as our guiding star, preserving relationships by offering flexibility to customers and cost-effective delivery in the countries we operate. As an ICT solutions provider of global stature, Black Box is steadfast in driving sustainable and responsible business practices to ensure our operations are aligned with bolstering sustainability policies, practices, and reporting standards. We continue to focus on our diversity, equity, and inclusion targets within the workplace.

Adherence to environmental laws and regulations is the cornerstone of our commitment. It’s not just about compliance; it’s about embodying the ethos of these regulations to uphold the highest environmental standards within our organization.

Our zest to progress is underscored by our reimagined brand promise, a beacon guiding our path as we navigate diverse markets with agility and determination. Despite potential economic headwinds and macro-level challenges in the short term, we stand resolute, fortified by our robust foundations, poised to seize the multitude of opportunities that await us.

We extend our heartfelt gratitude for your unwavering support and guidance.

Thank you.

Warm Regards,
Sanjeev Verma