Nazara delivers 84% revenue growth, 508% EBIDTA growth YoY in FY2021

Nazara Technologies Limited, an India based, diversified gaming and sports media platform with presence in India and across emerging and developed global markets such as Africa and North America, has announced its audited Standalone and Consolidated results for the financial year ended March 31, 2021.

As of March 31, 2021, Nazara has diverse business segments with revenue generation happening across gamified learning, esports, freemium, real money gaming and telco subscription.

Key Consolidated Financial Highlights for FY2021:

Operating Revenues grew by 84% YoY to Rs 4,542 million

EBITDA grew by 508% YoY to Rs 596 million

EBITDA margins improved from 3.7% in FY20 to 12.7% in FY21

Delivered a PAT of Rs 136 million in FY21

Recorded a positive Net Cash Flow from Operations of Rs 674 million in FY21

Consolidated Cash and Cash Equivalents, including liquid investments, stood at Rs 4,784 million as on March 31, 2021 as compared to Rs 2,234 million as on March 31, 2020

Consolidated Net worth as on March 31, 2021 grew by 37% to Rs 7,790 million, as compared to Rs 5,700 million as on March 31, 2020

The high growth segments of Gamified Early Learnings and eSports have grown by 819% YoY and 102% YoY to Rs 1,758 million and Rs 1,701 million, respectively

The Consolidated Revenue Mix across business segments stood as follows:

Commenting on the performance, Manish Agarwal, Group CEO, Nazara Technologies, said, “For FY21, we clocked a total operating revenue growth of 84% on YoY bases and profits of Rs 136 million. As we operate in the high growth business segments of Gamified early learning, eSports and Freemium, we will continue to prioritise growth over profit maximisation, so that we can achieve and maintain market leadership in segments we operate in.”

“Prudent financial management is in our DNA. This is clearly evident from Rs 4,784 million of cash reserves, including liquid investments, as well as zero debt on our balance sheet. We will efficiently utilise our cash balance to fund any inorganic growth opportunities – from building capabilities to geographic and demographic expansions in our domain of operation. To conclude, we are in a good position to continue executing our strategy and maintain our market leadership position in the years to come,” he added.