Key Highlights
- FY26 revenue rose 13 percent year-on-year to ₹1,829 crore.
- FY26 EBITDA jumped 66 percent year-on-year to ₹255 crore.
- Q4FY26 EBITDA margin nearly doubled to 19.5 percent.
- Gaming contribution to EBITDA increased to 90 percent in FY26 from 56 percent in FY25.
- Q4FY26 EBITDA stood at ₹78 crore with 52 percent year-on-year growth.
- Operating cash flow for FY26 increased 81 percent year-on-year to ₹213 crore.
Nazara Technologies reported its highest-ever EBITDA for the financial year ended March 31, 2026, supported by growth in its gaming business, improved operating leverage, and expansion across mobile, PC, and console gaming segments.
The company said FY26 revenue increased 13 percent year-on-year to ₹1,829 crore, while EBITDA surged 66 percent to ₹255 crore. EBITDA margins improved to 19.5 percent during the year, reflecting stronger profitability and operational efficiency.
For the fourth quarter of FY26, Nazara reported revenue of ₹398 crore after the consolidation impact of Nodwin deconsolidation. Quarterly EBITDA rose 52 percent year-on-year to ₹78 crore, with EBITDA margin standing at 19.5 percent.
Gaming Segment Drives Profitability
Nazara stated that gaming contributed 90 percent of EBITDA in FY26 compared with 56 percent in FY25 as the company sharpened its focus on its higher-margin core gaming operations.
The company highlighted that it is evolving into a diversified gaming platform with exposure across India, North America, and Europe through mobile gaming, PC and console gaming, esports, and offline gaming businesses.
Operating cash flow during FY26 rose 81 percent year-on-year to ₹213 crore, while the operating cash flow to EBITDA conversion ratio stood at 84 percent.
Expansion Through Acquisitions and IP Growth
Nazara said its acquisition of Bluetile and BestPlay added 17 casual mobile intellectual properties and 22 million monthly active users to its gaming ecosystem. The company expects the acquisitions to contribute meaningfully to revenue and EBITDA scale in FY27 after full consolidation.
The company also noted improved performance across its existing gaming portfolio. Kiddopia recorded subscriber growth for the second consecutive quarter with improved unit economics, while Animal Jam expanded margins through Roblox integration.
Fusebox continued to scale its narrative engine across multiple reality-TV intellectual properties, and Human Fall Flat, published by Nazara, crossed 58 million lifetime installs globally.
Management Commentary
Nitish Mittersain, Joint Managing Director and Chief Executive Officer of Nazara Technologies, said the company delivered its highest-ever EBITDA during FY26 and significantly expanded its platform scale, operational capacity, and earnings profile over the last year.
The company added that operating leverage continues to strengthen as it scales its gaming infrastructure and platform capabilities globally.
Nazara also announced the appointment of Mithun Sacheti, Founder of CaratLane, as a Non-Executive Director and Muraarie Rajan as an Independent Director on its board.
Focus on AI and Gaming Infrastructure
Nazara said its Centres of Excellence model across user acquisition, data analytics, artificial intelligence, growth, and product capabilities continues to support platform-wide efficiencies across the gaming lifecycle.
The company stated that it will continue focusing on disciplined execution, scalable profitability, and AI-enabled gaming infrastructure in FY27.