27-Oct-2026 14:32:24
NAZARA TECHNOLOGIES Q2 CONCALL : REVENUE UP 53% YOY, EBITDA SURGES 93% & MANAGEMENT PLANS $100 MILLION DEBT RAISE FOR BLUETILE–BESTPLAY ACQUISITION
• MANAGEMENT TARGETS SUSTAINED ORGANIC & INORGANIC GROWTH, WITH MOBILE GAMING AS ITS PRIMARY STRATEGIC FOCUS, BUT HAS NOT PROVIDED NUMERICAL FY27–FY29 GROWTH GUIDANCE • MANAGEMENT PLANS TO RAISE APPROXIMATELY $100 MILLION DEBT TO FUND THE BLUETILE–BESTPLAY ACQUISITION, WITH REMAINING PAYMENTS ALSO SUPPORTED BY INTERNAL ACCRUALS • MANAGEMENT AIMS TO BUILD AN AI-ENABLED GAMING PLATFORM OVER THE NEXT YEAR, INTEGRATING MARKETING, DATA ANALYTICS, PRODUCT DEVELOPMENT & TECHNOLOGY ACROSS STUDIOS • Q2 CONSOLIDATED REVENUE UP 53% YOY TO ₹803 CR, WHILE EBITDA SURGED 93% TO ₹120 CR • Q2 EBITDA MARGIN EXPANDED 311 BPS YOY TO 14.9%, WHILE NET PROFIT FROM CONTINUING OPERATIONS REACHED ₹35 CR VS LOSS OF ₹34 CR LAST YEAR • H1 REVENUE UP 20% YOY TO ₹1,232 CR, WHILE EBITDA INCREASED 52% TO ₹166 CR • GAMING REVENUE SURGED 122% YOY TO ₹656 CR, WHILE SEGMENT EBITDA INCREASED 114% TO ₹141 CR, WITH EBITDA MARGIN AT 21.5% • MOBILE GAMING REVENUE JUMPED 167% YOY TO ₹550 CR, WHILE EBITDA INCREASED 151% TO ₹103 CR • BLUETILE & BESTPLAY CONTRIBUTED ₹329 CR REVENUE & ₹64 CR EBITDA IN JUST TWO MONTHS, WITH EBITDA MARGIN AT APPROXIMATELY 19.5% • EXISTING GAMING STUDIOS DELIVERED 11% ORGANIC REVENUE GROWTH & 17% ORGANIC EBITDA GROWTH, SUPPORTING UNDERLYING BUSINESS EXPANSION • CURVE GAMES REVENUE UP 27% YOY TO ₹77 CR, WHILE EBITDA SURGED 61% TO ₹30 CR, WITH MARGINS IMPROVING TO 38.9% • WILDWORKS REVENUE UP 41% YOY & EBITDA UP 39%, WHILE KIDDOPIA REVENUE GREW 21% DESPITE HIGHER USER-ACQUISITION SPENDING • MANAGEMENT PLANS FIVE ADDITIONAL FUNKY MONKEYS STORES IN FY27, WHILE SMAAASH 2.0 LAUNCH IS EXPECTED IN THE COMING MONTHS, SUBJECT TO APPROVALS • NODWIN GAMING IS EXPLORING PRE-IPO FUNDRAISING & IPO PREPARATIONS WITHOUT A CONFIRMED TIMELINE, WHILE MANAGEMENT IS ALSO EVALUATING MONETISATION OF NON-CORE BUSINESSES • MANAGEMENT REMAINS POSITIVE ON GLOBAL GAMING OPPORTUNITIES, BUT ACQUISITION-RELATED DEBT, BLUETILE INTEGRATION, FUSEBOX REVENUE DECLINE, AD-TECH WEAKNESS & NODWIN LOSSES REMAIN KEY RISKS
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