Nazara Technologies Ltd

- There is no explicit mention of any current or planned fundraising through debt or equity in the transcript. - The company has a net cash position of approximately INR 700 crore as of the date of the call. - Planned capital deployment is focused on organic growth and strategic M&A, especially acquiring gaming studios. - NODWIN, a subsidiary, is raising a new round of funding, which indicates some equity funding activity at the subsidiary level. - The management emphasizes disciplined capital allocation but does not specify any immediate fundraising needs for the parent company.

- Offline Business Expansion: - Planning to open new stores, investing INR 1 crore to INR 2 crore per store. - Funky Monkey centers expanding rapidly at 1-2 centers per month. - Smaaash 2.0 relaunch planned in H1 next year before expanding further. - Breakeven point for offline stores is typically 18-24 months with 25-30% EBITDA margins. - Cloud Migration: - Transitioned from Amazon AWS to Google Cloud Platform to better monetize core games like Animal Jam. - Organic Growth & M&A: - Net cash of approx INR 700 crore available for organic growth. - Planned capital deployment includes additional M&A, especially acquiring gaming studios. - Minority Strategic Investments: - Minority stakes in Indian gaming ecosystem companies (e.g., nCore for FAU-G game). - Options open for future monetization or increased stakes. - New Game Launches: - Investment in new IPs and titles, notably through Curve portfolio and WildWorks (e.g., Go Slinky game).

- Growth in FY '27 driven by multiple segments including Fusebox games with expanded IP licensing for titles like Big Boss and Big Brother, and new global IPs launching. - Kiddopia expected to grow well with increased user acquisition and content updates. - Offline gaming (Funky Monkey and Smaaash) to expand, with Funky Monkey rapidly opening 1-2 centers per month and Smaaash relaunch planned for H1 FY '27. - Animal Jam business set to grow, especially with launch on Roblox and new game "Go Slinky." - Curve (PC and console publishing) investing in 5-6 new titles to be released FY '27 and FY '28. - NODWIN’s esports and IP portfolio expected to provide sustainable growth fueled by events and new IPs. - Overall, core gaming, IP-driven games, offline expansion, and new game launches are key growth drivers for FY '27.

- FY '27 growth drivers include Fusebox games with multiple new IP launches (e.g., Big Boss, Big Brother), Kiddopia user acquisition ramp-up, and expanding offline gaming (Funky Monkey centers). - Animal Jam business (WildWorks) expected to grow with new game Go Slinky releasing by Q1 FY '27 and Roblox launch. - Curve's PC/console publishing to contribute via five to six new titles launching through FY '27 and FY '28. - Offline business (Smaaash and Funky Monkey) targets 25%-30% EBITDA margins with 18-24 months breakeven; Funky Monkey aims for ~35-40% sustainable margin. - NODWIN to sustain profitability with IP growth and operational optimizations; FY '27 margin improvement towards 20%+ planned. - Margin expansion expected over next 2-3 quarters driven by core gaming focus and operational efficiencies. - Investment in organic growth and M&A using INR700 crore net cash.

- NODWIN Gaming, part of Nazara Technologies, has secured an order book of at least 10 upcoming events following successful executions like the Counter-Strike Major, DreamHack, and Honor of Kings Championship. - Major events like the Counter-Strike world championship and others have bolstered NODWIN's credibility globally, leading to these new orders. - The order book includes multiple events from global publishers, signaling a sustainable and growing pipeline for NODWIN. - The growth is underpinned by NODWIN's strong position as one of the top 2 esports companies globally and its profitability, which distinguishes it from peers. - This order book reflects significant confidence from the global esports community in NODWIN's ability to deliver marquee events.