Nazara FY26 EBITDA Soars 66% as Gaming Drives 90% of Income, Margins Practically Double

• FY26 Income at INR 1,829 Cr (+13% YoY); EBITDA rises 66% to INR 255 Cr
• Q4FY26 EBITDA margins almost double to 19.5%
• Gaming contribution rises to 90% of EBITDA as Nazara sharpens gaming focus

Nazara Applied sciences Restricted, India’s solely listed gaming firm, at the moment introduced its audited monetary outcomes for the quarter and monetary yr ended March 31, 2026.

FY26 was a pivotal yr for Nazara, with revenues reaching INR 1,829 crores and EBITDA rising 66% to INR 255 crores. Momentum accelerated by means of the yr, with Q4FY26 EBITDA margins reaching 19.5%, up almost 970 foundation factors year-on-year. Nazara generated a pre-tax OCF of INR 213 crores up 81% YoY, pushed by an 84% EBITDA to OCF conversion ratio. In Q4FY26, Nazara reported revenues of INR 398 crores, a decline of 24% yr on yr on account of de-consolidation of Nodwin from August 2025. Adjusted for Nodwin, income elevated by 8%. The corporate recorded quarterly EBITDA of INR 78 crores, a yr on yr development of 52% and an EBITDA margin of 19.5%. 

EBIDTA contribution from Gaming elevated from 56% in FY25 to 90% in FY26 as the corporate refocused on its excessive margin, core gaming enterprise. Nazara is converging towards a globally diversified gaming platform throughout cell, PC & console, and offline gaming, with publicity spanning India, North America and Europe.

Nazara’s IP portfolio is meaningfully bigger. The acquisition of Bluetile and BestPlay Nazara’s largest M&A thus far – provides 17 informal cell IPs and 22 million month-to-month lively customers to the Nazara platform. As soon as consolidated, the acquisition will add vital income and EBITDA scale to Nazara in FY27.

Nazara’s current IPs are additionally performing higher. Kiddopia sustained subscriber development for the second consecutive quarter with improved unit economics. Animal Jam expanded margins whereas extending onto Roblox. Fusebox efficiently scaled its narrative engine throughout a number of reality-TV IPs, with additional launches deliberate in FY27. PC & Console recreation Human Fall Flat revealed by Nazara crossed 58 million lifetime items globally.

The working system behind all of that is Nazara’s COE playbook. The Centres of Excellence Nazara constructed throughout Consumer Acquisition, Information Analytics, Synthetic Intelligence, Development and Product are actually platform capabilities embedded throughout the complete recreation lifecycle. Each gaming IP Nazara owns and more and more each IP it acquires plugs into the identical system.

Commenting on the outcomes, Nitish Mittersain, Joint MD & CEO of Nazara Applied sciences, stated,