Nazara Technologies Annual Report 2022-23

Key insights

6 takeaways

01
Consolidated operational revenue grew 75% to ₹ 10,910 million in FY 2022-23, with eSports contributing ₹ 5,315 million.See it on page 38
02
Consolidated EBITDA rose 16% to ₹ 1,097 million, but the EBITDA margin declined from 15.2% to 10.1%.See it on page 41
03
Nodwin Gaming's revenue grew 84% to ₹ 3,887 million, while its EBITDA fell 55% to ₹ 70 million.See it on page 37
04
The Board did not recommend any dividend for FY 2022-23 in order to conserve resources.See it on page 48
05
Cash and near-cash reserves stood at ₹ 6,283 million as of March 31, 2023, down from ₹ 7,326 million a year earlier, and the company and most subsidiaries remained debt free.See it on page 43
06
Tamil Nadu's ban on online games with chance of money, including Rummy and Poker, is expected to have a short-term negative impact on the OpenPlay business.See it on page 39

Summary

The document is the FY 2022-23 annual report of Nazara Technologies Limited, an Indian gaming company with Gaming, eSports and Adtech segments, covering the year ended March 31, 2023. It includes the Management Discussion and Analysis, Board's Report, Corporate Governance Report, Business Responsibility and Sustainability Report, and consolidated and standalone financial statements. Consolidated operational revenue rose 75% to ₹ 10,910 million from ₹ 6,217 million, while consolidated EBITDA grew 16% to ₹ 1,097 million, with the EBITDA margin falling to 10.1% from 15.2%. Segment revenue was ₹ 4,063 million for Gaming (up 28%), ₹ 5,315 million for eSports (up 75%) and ₹ 1,532 million for Adtech. Consolidated profit for the year was ₹ 614 million, compared with ₹ 507 million a year earlier. The Board did not recommend a dividend, and the company reported cash and near-cash reserves of ₹ 6,283 million. Nodwin Gaming's revenue grew 84% to ₹ 3,887 million, though its EBITDA fell 55% to ₹ 70 million.