Level Unlocked: Building the Future of Gaming from India

Key insights

6 takeaways

01
Consolidated revenue from operations rose 4% to ₹1,138.3 crores, and EBITDA before unallocated corporate costs increased 20% to ₹152.2 crores.See it on page 5
02
Kiddopia's EBITDA rose to ₹56.1 crores in FY 2023-24 from ₹35.7 crores, while its revenue was roughly flat at ₹219.4 crores.See it on page 8
03
Esports revenue grew 19% to ₹631.7 crores, while Adtech revenue fell 32% to ₹103.8 crores.See it on page 5
04
The company raised ₹950 crores from strategic and financial investors, lifting its net cash balance to approximately ₹1,450 crores.See it on page 19
05
The company has earmarked US$100 million for strategic mergers and acquisitions over the next two years.See it on page 3
06
Sportskeeda's revenue reached ₹196 crores in FY 2023-24, up from ₹122.4 crores, and its EBITDA rose to ₹64.8 crores from ₹38.8 crores.See it on page 46

Summary

This is the 25th Annual Report (FY 2023-24) of Nazara Technologies Limited, India's listed gaming company, covering its gaming, esports and adtech segments with consolidated and standalone financial statements, governance disclosures and sustainability reporting. The company reports consolidated revenue of ₹1,138.3 crores (+4% YoY) and EBITDA of ₹152.2 crores (+20% YoY) before unallocated corporate costs, with a 13.4% margin. Segment revenue was ₹406.5 crores for Gaming (flat YoY), ₹631.7 crores for Esports (+19%) and ₹103.8 crores for Adtech (-32%). The company raised ₹950 crores in equity and reports net cash of approximately ₹1,450 crores, and it has earmarked US$100 million for acquisitions over the next two years. Gaming's Kiddopia generated ₹219.4 crores of revenue with EBITDA rising to ₹56.1 crores from ₹35.7 crores. Management describes the Indian online gaming community as about 442 million gamers.