Nazara Technologies Limited informs the Exchange about Transcript of Earnings Call.
NAZARA · price
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Awaiting price reaction for this filing.
Nazara reported Q1 FY26 revenue of ₹498.8 crores (up 99% YoY) and EBITDA of ₹47.4 crores (up 90% YoY), with overall PAT at ₹51.3 crores (up 118% YoY). The core gaming segment grew 160% YoY with a healthy 24.4% EBITDA margin, driven by Curve Games (₹54.6 cr revenue, ₹20.7 cr EBITDA), Fusebox (₹73 cr revenue, ₹10.4 cr EBITDA), and Animal Jam (₹26.4 cr revenue, up 12.1%). The board approved a 1:2 stock subdivision and a 1:1 bonus issue, and proposed deconsolidating Nodwin Gaming. Management is targeting ₹300 crore EBITDA by FY27 and a 30% gaming margin milestone. Weak spots included Sportskeeda (down 21% YoY due to Google's core update) and PokerBaazi/Moonshine (₹73.9 cr EBITDA loss due to front-loaded IPL and Shark Tank marketing spends of ~₹110 cr).
Strong topline growth and improving profitability in core gaming are positive for shareholders, supported by the bonus issue and stock subdivision which improve liquidity. However, Sportskeeda's traffic decline and heavy losses at PokerBaazi are near-term concerns; investors should watch for Sportskeeda recovery in 1-2 quarters and PokerBaazi's path to FY27 profitability.