Nazara Technologies Limited (NAZARA) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 29, 2026 3 min read

Nazara Technologies enters the Q1 FY27 results with a focus on scaling its core gaming business while navigating a complex regulatory environment following the Supreme Court's retrospective GST ruling. Investors will be looking for updates on the company's progress toward its Rs. 300 Cr EBITDA target for FY27 and the integration status of its recent Bluetile and BestPlay acquisitions.

Quick Details

Results date	August 03, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 398.0 Cr
Previous quarter PAT	Rs. 56.0 Cr
Previous quarter EBITDA margin	19.5%
Market cap	Rs. 11288.24 Cr
CMP	Rs. 303.65

Nazara Technologies Limited Q1 Results Date and Time

The board meeting is scheduled for August 03, 2026, to consider the audited financial results.

What to expect from Nazara Technologies Limited's Q1 FY27 results

Nazara's core gaming segment remains the primary growth engine, with the company aiming for 20-25% YoY revenue growth and EBITDA margins in the 20-25% range. The rupee's ~1.5–2% depreciation during the quarter acts as a tailwind for the company's 90%+ international gaming revenue, potentially cushioning reported EBITDA in INR terms. Management is currently tracking toward an annual EBITDA target of Rs. 300 Cr for FY27, which requires a consistent quarterly run-rate of approximately Rs. 75 Cr. While the AdTech segment faces headwinds from the March 2025 Google algorithm update, the company's overall operating leverage is expected to continue compounding as it integrates new studio acquisitions throughout the fiscal year.

Key Things To Watch

Performance vs Guidance Tracking: Monitoring progress against key FY27 financial and operational targets.

Group EBITDA — Rs. 300 Cr by FY27 — On track to achieve or surpass
Core Gaming Revenue Growth — 20-25% YoY — Ongoing target
Core Gaming EBITDA Margin — 20-25% — Achieved 24.7% in FY26

Bluetile & BestPlay consolidation: Status of the company's largest M&A transaction.

Pending regulatory approvals for the $100.3 Mn acquisition
Integration timeline for the 17 casual puzzle IPs and 22 million MAUs
Pro forma EBITDA expected to double post-consolidation in FY27

Regulatory and Risk Overhangs: Updates on legal and compliance challenges.

GST notices totaling Rs. 10,643.27 Cr currently being contested via writ petitions
Impact of Supreme Court ruling on retrospective GST liabilities
Recovery status of Sportskeeda following the March 2025 Google Core update

Strategic Expansion and Divestment: Operational progress on core and non-core assets.

Smaaash 2.0 relaunch expected in FY27 with 25-30% steady-state EBITDA margin target
Funky Monkeys expansion targeting 100 centers in the next couple of years
Divestment of non-core assets including AdTech and Sportskeeda planned for FY27-FY28

Frequently Asked Questions

What is the status of Nazara's EBITDA target for FY27?

Management has set a target of Rs. 300 Cr for group EBITDA in FY27. They have stated the company is on track to achieve or surpass this figure.

How is Nazara managing the regulatory impact of GST on online gaming?

The company is contesting five show-cause notices with aggregate demands of Rs. 10,643.27 Cr through writ petitions in the Calcutta High Court and Supreme Court. Management is monitoring the impact of the Supreme Court's May 2026 ruling, which upheld 28% GST on the full face value of bets.

What is the strategy for the company's non-core assets?

Nazara plans to divest non-core assets, likely including Sportskeeda and AdTech, during FY27-FY28. The proceeds from these sales are intended to be redeployed into the core gaming business to improve synergy.