Nazara Technologies Annual Report FY 2025-26

Key insights

7 takeaways

01
Consolidated revenue reached 1,829 Crores and EBITDA reached a record 255 Crores in FY 2025-26, with the company citing a 66% year-on-year EBITDA increase.See it on page 32
02
Gaming's share of group EBITDA rose from 56% in FY 2024-25 to 90% in FY 2025-26.See it on page 29
03
The US and UK together contributed 67% of gaming revenue in FY 2025-26, and the company says more than 90% of gaming revenue came from international markets.See it on page 29
04
The company plans to acquire a 50.01% controlling stake in Bluetile Games for US$ 100.3 million, which it describes as its largest-ever acquisition, pending approvals.See it on page 53
05
Pre-tax operating cash flow increased 81% year-on-year to ` 213 Crores, with EBITDA-to-operating cash flow conversion of 84%.See it on page 29
06
The company recorded a net loss of 93,497 Lakhs on a standalone basis after 98,979 Lakhs in exceptional items, which included impairment losses on an associate and a subsidiary affected by the Promotion and Regulation of Online Gaming Act, 2025, and an incremental gratuity provision.See it on page 173
07
Consolidated net profit after tax was 8,194 Lakhs for FY 2025-26, compared with 5,096 Lakhs in FY 2024-25.See it on page 65

Summary

Nazara Technologies Limited's FY 2025-26 annual report covers India's only publicly listed gaming company, which describes itself as a diversified global gaming and interactive entertainment platform spanning mobile gaming, PC and console publishing, offline entertainment, esports, sports media and adtech. The period covered is the financial year ended March 31, 2026, with consolidated figures reported in rupees. The company reports consolidated revenue of 1,829.0 Crores and EBITDA of 254.8 Crores, a 13.9% EBITDA margin, and says gaming contributed nearly 90% of EBITDA. The company states that more than 90% of its gaming revenue came from international markets, with the US and UK together contributing 67% of gaming revenue. The report also describes a proposed acquisition of Bluetile Games and BestPlay, which the company says will be its largest transaction to date, subject to pending approvals. Consolidated pre-tax operating cash flow rose 81% year-on-year to ` 213 Crores, with an EBITDA-to-operating cash flow conversion of 84%.