Any current/future new fundraising through debt or equity?

Nazara Technologies recently raised Rs.510 Crores in the quarter from marquee investors including Nikhil Kamath and SBI Mutual Fund. The company currently holds over Rs.1,300 Crores of cash on consolidated books. There is no explicit mention of plans for immediate future fundraising through debt or equity in the provided transcript. The company is focused on deploying existing cash reserves and capital raised for acquisitions and growth opportunities rather than raising new funds at present. The approach is to prudently deploy capital, targeting bolt-on acquisitions and strategic investments a

Any current/future capex/capital investment/strategic investment?

Nazara is actively looking at bolt-on acquisitions, especially within the real money gaming (RMG) open play business and related synergistic segments. Acquisition targets are ideally companies generating Rs.100 Crores or more in revenue and largely profitable, focusing on strategic and synergistic fit. They are focusing on launching new formats only if they can become leaders in those segments. Capital deployment is planned at both subsidiary and corporate levels, with a preference to invest directly through subsidiaries where opportunities exist. Raised Rs.510 Crores recently and hold

Future growth expectations in sales/revenue/volumes?

Directionally, Nazara expects higher growth in revenue and EBITDA in Q3 and Q4 compared to H1 FY2024. They aim for overall revenue and EBITDA growth for the full year to be better than FY2023. There is confidence in scaling up their core gaming IP, sports, eSports, and Adtech businesses. The scale-up of user acquisition in key products like Kiddopia and Animal Jam is anticipated, with efforts to overcome current spend scaling challenges. They foresee revenue growth in Animal Jam seriously during seasonal peaks (Halloween, New Year). Post-acquisition synergies, especially between PFN and Sports

Future growth expectations in earnings/operating earnings/profits/EPS?

Confident Q3 and Q4 will show higher growth in revenue and EBITDA compared to H1 FY2024 (Page 16). Directional expectation is for better margins than last year (Page 16). PFN business, acquired recently, achieved breakeven in September and expected to improve profitability further with Sportskeeda synergy (Page 18). Classic Rummy expected to post EBITDA loss in Q3 due to new GST but stabilize to breakeven by Q4 FY2024 (Pages 5, 18). Gaming segment reported 19% YoY revenue growth and 43% EBITDA growth in H1 FY2024, with robust margins (~22-25%) (Pages 3-6). eSports segment growing steadily with

Nazara Technolo.Q2 FY24Entertainment

Nazara Technolo. Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹385Market Cap: ₹14.4K CrSector: Entertainment

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

Directionally, Nazara expects higher growth in revenue and EBITDA in Q3 and Q4 compared to H1 FY2024.
They aim for overall revenue and EBITDA growth for the full year to be better than FY2023.
There is confidence in scaling up their core gaming IP, sports, eSports, and Adtech businesses.
The scale-up of user acquisition in key products like Kiddopia and Animal Jam is anticipated, with efforts to overcome current spend scaling challenges.
They foresee revenue growth in Animal Jam seriously during seasonal peaks (Halloween, New Year).
Post-acquisition synergies, especially between PFN and Sportskeeda, are expected to drive direct sales growth and higher profitability.
Regulatory clarity in real money gaming (RMG) space allows for aggressive growth and strategic acquisitions.
The Adtech business is poised for margin improvement and revenue growth through product focus and scaling.

Margin guidance

Category 3

Confident Q3 and Q4 will show higher growth in revenue and EBITDA compared to H1 FY2024 (Page 16).
Directional expectation is for better margins than last year (Page 16).
PFN business, acquired recently, achieved breakeven in September and expected to improve profitability further with Sportskeeda synergy (Page 18).
Classic Rummy expected to post EBITDA loss in Q3 due to new GST but stabilize to breakeven by Q4 FY2024 (Pages 5, 18).
Gaming segment reported 19% YoY revenue growth and 43% EBITDA growth in H1 FY2024, with robust margins (~22-25%) (Pages 3-6).
eSports segment growing steadily with 21% revenue and 16% EBITDA growth in H1 FY2024, contributing significantly to overall profits (Pages 3-6).
Emphasis on organic growth and strategic acquisitions, particularly businesses with Rs.100 Crores+ revenue that are profitable, expected to synergize and boost earnings (Page 18).

See what Nazara Technolo. management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Nazara Technologies recently raised Rs.510 Crores in the quarter from marquee investors including Nikhil Kamath and SBI Mutual Fund.
The company currently holds over Rs.1,300 Crores of cash on consolidated books.
There is no explicit mention of plans for immediate future fundraising through debt or equity in the provided transcript.
The company is focused on deploying existing cash reserves and capital raised for acquisitions and growth opportunities rather than raising new funds at present.
The approach is to prudently deploy capital, targeting bolt-on acquisitions and strategic investments across its subsidiaries.
They have built a strong acquisition pipeline and intend to deploy capital over the next couple of quarters but without any urgency to raise additional funds now.

Order book

The provided pages (Page 19 and related excerpts) from the Nazara Technologies Limited earnings call transcript do not explicitly mention the current or expected order book or pending orders. The discussion focuses primarily on strategic outlook, acquisitions, segment performance, tax issues in RMG, margins, launches, and regulatory environment. Key relevant highlights: - Focus on opportunities and possible bolt-on acquisitions in Real Money Gaming (RMG) space amid tax claim challenges. - Growth and margin improvements expected in core gaming and eSports segments. - New launches worth approximately Rs. 1,300 Cr are underway. - Emphasis on scaling user acquisition and profitability without the constraints of fixed guidance. - Acquisition strategy includes looking at businesses with potential synergies. Hence, no specific data or commentary on order book or pending orders is provided in the shared content.

See what Nazara Technolo. management said on order book — free account, 30 seconds.

Capex plans

Yes

Nazara is actively looking at bolt-on acquisitions, especially within the real money gaming (RMG) open play business and related synergistic segments.
Acquisition targets are ideally companies generating Rs.100 Crores or more in revenue and largely profitable, focusing on strategic and synergistic fit.
They are focusing on launching new formats only if they can become leaders in those segments.
Capital deployment is planned at both subsidiary and corporate levels, with a preference to invest directly through subsidiaries where opportunities exist.
Raised Rs.510 Crores recently and hold over Rs.1,300 Crores cash reserves, positioning them strongly for M&A and further growth.
No plans to launch new business segments currently; focus remains on core gaming IP, sports, eSports, and Adtech.
The “Nazara Publishing” division is geared to provide capital and services to game developers, emphasizing investment in game publishing and SDK development.
Timing: Aim to deploy capital within a few quarters but prioritize prudence over haste.

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Nazara Technolo. Q2 FY24 Earnings Call Analysis

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