Nazara Technologies declares strong FY22 numbers; board approves issue of bonus shares!

The board has approved the issue of bonus shares in the proportion of 1:1, subject to the approval of the company’s shareholders.

Nazara Technologies Limited has declared its audited standalone and consolidated results for the quarter & year ended March 31, 2022. The board has approved the issue of bonus shares in the proportion of 1:1, subject to the approval of the company’s shareholders.   

The key consolidated financial highlights for FY22 are as follows:  

• Operating revenue grew by 37 per cent (YoY) to Rs 621.7 crore. 
• EBITDA* stood at Rs 94.6 crore, a growth of 109 per cent YoY. 
• EBITDA* margins stood at 15.2 per cent versus 10 per cent for FY21. 
• Delivered a PAT of Rs 50.7 crore, a growth of 273 per cent YoY while its PAT margin stood at 8.2 per cent. 
• Cash & cash equivalents (incl. liquid investments) of Rs 732.1 crore as of March 31, 2022. 

  (*EBITDA excludes other income) 

The company has cash on hand of Rs 732.1 crore as of March 31, 2022. The current cash balance combined with continuous operational cashflows at the subsidiary level is expected to keep driving inorganic growth for the company and its subsidiaries. 

In a statement filed with the exchange, Manish Agarwal, CEO at Nazara Technologies mentioned, “On behalf of Nazara Group, I am glad to report that we have surpassed our revenue & EBITDA guidance for FY22, despite the headwinds caused by a change in Apple policies & regulatory environment in real money gaming in India and negative impact of COVID19 in e-sports segment. We are glad to report that all of the group's business sectors are profitable and have added significant cash balance in FY22. Our strategy of diversifying the portfolio across business categories continues to give us a solid & robust momentum to grow faster than the overall gaming & eSports market in the coming years.” 

India-based diversified gaming & sports media platform, Nazara Technologies has a presence in India as well as across emerging & developed global markets such as Africa and North America with offerings across the interactive gaming, eSports, and gamified early learning ecosystems.  

The company owns some of the most recognisable IPs, including WCC & CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in eSport, and eSportsmedia; Halaplay and Qunami in skill-based, fantasy as well as trivia games. 

The shares of Nazara Technologies closed at Rs 1,244.35 on BSE and climbed approximately 2.37 per cent to touch an intraday high of Rs 1,273.95 during the early market hours on May 16, 2022 (Monday). 

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