Nazara Technologies Annual Report 2021-22: Building Diversified Gaming Ecosystem

Key insights

7 takeaways

01
Consolidated revenue from operations rose 37% to ₹ 6,217 million in FY 2021-22, compared with ₹ 4,542 million the prior year.See it on page 42
02
esports was the largest revenue segment at ₹ 3,039 million, up 79%, and made up 49% of FY 2021-22 revenue.See it on page 42
03
Consolidated EBITDA reached ₹ 946 million in FY 2021-22, a 109% increase, lifting the EBITDA margin to 15.2%.See it on page 46
04
Gamified Early Learning revenue grew 16% to ₹ 2,044 million, and its EBITDA rose to ₹ 510 million with a 25% margin.See it on page 47
05
As of March 31, 2022, cash and near-cash reserves including current investments were ₹ 7,321 million, up from ₹ 4,784 million a year earlier.See it on page 49
06
Consolidated net profit was ₹ 507 million, while standalone results recorded a loss of ₹ 338 million for FY 2021-22.See it on page 57
07
The company plans to invest ₹ 3,000 Crores and more over the upcoming 18-24 months to establish its ecosystem, starting with a ₹ 500 Crores first phase.See it on page 53

Summary

Nazara Technologies' 23rd Annual Report for FY 2021-22 (year ended March 31, 2022) describes an India-based diversified gaming and sports media company with operations in Africa, the Middle East, Asia-Pacific, North America and other markets. It covers its business segments (esports, Gamified Early Learning, Freemium, Telco Subscription and Real Money Gaming), its growth strategy, market context, corporate governance, ESG practices, and audited standalone and consolidated financial statements. The company reported consolidated total operational revenue of ₹ 6,217 million, up 37% from ₹ 4,542 million, and consolidated EBITDA of ₹ 946 million, up from ₹ 447 million. esports contributed ₹ 3,039 million of revenue, a 79% increase, and accounted for 49% of FY 2021-22 revenue. Consolidated net profit was ₹ 507 million, while standalone results showed a loss. The company also reported cash and near-cash reserves of ₹ 7,321 million as of March 31, 2022, and stated that it and its subsidiaries were debt-free. The report notes that it is planning acquisitions to build out its ecosystem, with a stated intention to invest ₹ 3,000 crores and more over 18-24 months.