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Nazara Technologies Limited Q3 FY26 earnings call summary

NSE: NAZARA · BSE: 543280

Earnings call of 4 Feb 2026, summarised by AI from the filing.

Q3 FY26 revenue ₹406 cr, down 24.1% on NODWIN deconsolidation; EBITDA ₹67.8 cr, up 29.4%; margin guided beyond 20% in two to three quarters.

Key takeaways

  1. Margin guidance EBITDA margin should rise beyond 20% in two to three quarters.
  2. NODWIN deconsolidation NODWIN deconsolidated, reducing revenue but improving margins.
  3. Growth drivers New games from Fusebox, Kiddopia user acquisition, and offline expansion to drive FY27 growth.
  4. Moonshine loss Moonshine (PokerBaazi) operating loss of ₹30 cr offset NODWIN gains.

Original filing on BSE

Nazara Technologies Limited Q1 FY27 results

As filed: Revenue ₹429 cr (−14% year on year), EBITDA ₹24.7 cr (−49% year on year), PAT −₹82.5 cr (−262% year on year), EBITDA margin 5.8% (−387 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹398 cr (−24% year on year), EBITDA ₹74.0 cr (+118% year on year), PAT ₹55.7 cr (+300% year on year), EBITDA margin 18.6% (+1,000 bps). Score 43 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA growth was above it; profit growth was well above it. EBITDA margin rose 1000 bps year on year. Other income 69% of PBT. Tax rate -18%. Consolidated profit +1293% but standalone -2%. Share price after the results: +7.0% in 30 days (Nifty 500: −0.8%).
  • Q3 FY26: Revenue ₹406 cr (−24% year on year), EBITDA ₹67.7 cr (+78% year on year), PAT ₹8.8 cr (−37% year on year), EBITDA margin 16.7% (+958 bps). Score 33 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were in line with it. EBITDA margin rose 958 bps year on year. Other income 81% of PBT. Tax rate 36%. Revenue fell 23% from last quarter. Share price after the results: −13.7% in 30 days (Nifty 500: −3.2%).
  • Q2 FY26: Revenue ₹526 cr (+65% year on year), EBITDA ₹61.0 cr (+135% year on year), PAT −₹34.0 cr (+300% year on year), EBITDA margin 11.6% (+345 bps). Score 64 of 100, In line with trend. Revenue and EBITDA growth were above the company's own trend; profit before exceptional items growth was well above it. EBITDA margin rose 345 bps year on year. Other income 607% of PBT. Tax rate -4%. Share price after the results: −12.3% in 30 days (Nifty 500: −0.5%).
  • Q1 FY26: Revenue ₹499 cr (+100% year on year), EBITDA ₹48.0 cr (+92% year on year), PAT ₹51.0 cr (+113% year on year), EBITDA margin 9.6% (−38 bps). Score 63 of 100, In line with trend. Revenue and profit growth were well above the company's own trend; EBITDA growth was above it. EBITDA margin fell 38 bps year on year. Other income 140% of PBT. Tax rate -9%. Revenue fell 4% from last quarter. Share price after the results: −23.4% in 30 days (Nifty 500: +2.4%).
  • Q4 FY25: Revenue ₹520 cr (+95% year on year), EBITDA ₹34.0 cr (+300% year on year), PAT ₹4.0 cr, EBITDA margin 6.5% (+503 bps). Score 83 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend. EBITDA margin rose 503 bps year on year. Other income 173% of PBT. Tax rate -73%. Profit fell 71% from last quarter. Share price after the results: +0.9% in 30 days (Nifty 500: +2.3%).
  • Q3 FY25: Revenue ₹535 cr (+67% year on year), EBITDA ₹38.0 cr (+6% year on year), PAT ₹14.0 cr (−53% year on year), EBITDA margin 7.1% (−415 bps). Score 50 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was in line with it; profit growth was below it. EBITDA margin fell 415 bps year on year. Other income 85% of PBT. Tax rate 42%. Profit fell 13% from last quarter.
  • Q2 FY25: Revenue ₹319 cr (+7% year on year), EBITDA ₹26.0 cr (−4% year on year), PAT ₹16.0 cr (−33% year on year), EBITDA margin 8.2% (−94 bps). Score 16 of 100, Below trend. EBITDA margin fell 94 bps year on year. Other income 109% of PBT. Consolidated profit -33% but standalone +1200%. Not enough history for a trend yet: scored on growth alone. Profit fell 33% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Nazara Technologies Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.