Nazara Technologies Ltd (BOM:543280)

Q2 2026 Nazara Technologies Ltd Earnings Call Transcript

Nov 13, 2025 / 03:30AM GMT

Release Date Price: ₹273.1 (+6.41%)

Transcript

Key Points

Positve

Nazara Technologies Ltd (BOM:543280) reported a significant revenue increase of 80.2% year-on-year for H1 FY '26, reaching INR1025.2 crores.
The company's EBITDA grew by 118.5% year-on-year, demonstrating strong operational performance.
Mobile gaming remains a primary growth engine, with successful IPs like Love Island, Big Brother, and Kiddopia driving revenue.
The company has a strong international presence, with over 90% of gaming revenue coming from markets like the US and UK.
Nazara Technologies Ltd (BOM:543280) is leveraging centers of excellence in user acquisition, analytics, and AI to improve customer acquisition costs and expand customer lifetime value.

Negative

The company reported a negative PAT of INR33.9 crores in Q2 FY '26, primarily due to the real money gaming ban and impairment of Moonshine Technologies.
Nazara Technologies Ltd (BOM:543280) faced a significant impairment in its investment in Freaks4U due to headwinds in the European market.
The company's stake in NODWIN Gaming fell below 50%, leading to de-subsidiarization and a one-time gain adjustment.
Sportskeeda, a key property, faced challenges due to a Google algorithm update, impacting organic traffic and revenue.
The company is dealing with increased group costs due to investments in centers of excellence, which may impact short-term profitability.

Operator

Ladies and gentlemen, good day and welcome to the Nazara Technologies Q2 FY '26 earnings conference call hosted by Spark Institutional Equities Private Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Anand Srinivasan from Spark Institutional Equities Private Limited. Thank you, and over to you, sir.

Anand Srinivasan

Spark Institutional Equities Private Limited

Thanks Swapnali. On behalf of Avendus Spark, I welcome you all to the Q2 FY '26 earnings call of Nazara Technologies Limited. We have with us the management team represented by Mr. Nitish Mittersain, CEO and JMD at Nazara Technologies; Mr. Rohit Sharma, Executive Director, Nazara Technologies; Mr. Rakesh Shah, CFO, Nazara Technologies; Ms. Anupriya Sinha Das, Head of Corporate Development at Nazara Technologies; Mr. Shreyes Menon, Head of Offline Gaming at Nazara Technologies; Mr. Terry Lee, CEO of Fusebox Games; Mr. Akshat Rathee, Founder, NODWIN Gaming; Mr. Ajay Pratap Singh, CEO, Absolute Sports Private Limited; Mr.

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