| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 397.78 | 2.0% | 23.5% |
| Total Income | 448.47 | 7.5% | 16.8% |
| Expenditure | 375.49 | 6.7% | 28.9% |
| PBT | 72.98 | 423.5% | 552.2% |
| Net Profit | 55.70 | 530.1% | 1268.5% |
| OPM | 18.61% | 2.19pp | 11.96pp |
| NPM | 12.42% | 10.30pp | 11.66pp |
| EPS | 1.27 | 370.4% | 36.6% |
Nazara's FY26 EBITDA Soars 66% to ₹255 Cr
12 May 2026 · 12 May, 7:52 pm
Summary
Nazara Technologies Limited delivered strong financial results for FY26, reporting its highest-ever EBITDA of ₹255 crores, an impressive 66% year-on-year growth. Revenue for the full financial year reached ₹1,829 crores, up 13% from the prior year. The company demonstrated significant operating leverage, with Q4FY26 EBITDA margins almost doubling to 19.5% and gaming contributing 90% to the overall EBITDA. Management highlighted FY26 as a pivotal year, emphasizing the expanded scale, quality, and earnings capacity of its global gaming platform, with a forward-looking focus on continued global scaling and disciplined execution for FY27.
Key Highlights
- 1
Nazara Technologies reported its highest-ever EBITDA of ₹255 crores for FY26, marking a significant 66% year-on-year growth.
- 2
FY26 revenue reached ₹1,829 crores, demonstrating a 13% increase compared to the previous year.
- 3
EBITDA margins for Q4FY26 nearly doubled year-on-year to 19.5%, reflecting a 970 basis point improvement.
- 4
The company's strategic focus on core gaming led to an increase in gaming's contribution to EBITDA, rising from 56% in FY25 to 90% in FY26.
- 5
Nazara generated a pre-tax operating cash flow (OCF) of ₹213 crores in FY26, an 81% year-on-year increase, driven by an 84% EBITDA to OCF conversion ratio.
- 6
Q4FY26 saw revenues of ₹398 crores (post Nodwin deconsolidation) and quarterly EBITDA of ₹78 crores, representing a 52% year-on-year growth for EBITDA.
- 7
The acquisition of Bluetile and BestPlay, Nazara's largest M&A to date, added 17 casual mobile IPs and 22 million monthly active users, expected to significantly boost revenue and EBITDA in FY27.
Management Comments
Nitish Mittersain
FY26 was a pivotal year for Nazara. We delivered our highest-ever EBITDA at INR 255 crores, with EBITDA growing 66% year-on-year and Q4 EBITDA margins reaching 19.5%. Nazara today operates at a materially different scale than it did 12 months ago. The scale, quality and earnings capacity of the platform have expanded significantly. Operating leverage is real, and it is compounding. The years ahead are about scaling this platform globally.
Informational and educational content only. Not investment advice.