NODWIN Gaming Reports INR 658 Cr Revenue In FY26 And Advances IPO Readiness

NODWIN Gaming reported consolidated revenue of INR 658 crore in FY26, marking 25% organic growth over FY25. The company also posted an EBITDA profit of INR 21 crore. In FY25, NODWIN Gaming recorded an EBITDA loss of INR 14 crore. The results supported the company’s stated push towards IPO readiness.

The company attributed the profitability shift to portfolio changes and stronger operating performance. A key step was the de-consolidation of loss-making subsidiary Freaks4U. NODWIN Gaming also cited steady delivery across live events, content output, and IP-led properties. These areas helped stabilise operations as the business expanded across markets.

NODWIN Gaming’s FY26 and FY25 financial outcomes are summarised below. The figures reflected revenue growth alongside an EBITDA swing into profit. The company linked the improvement to restructuring decisions and better margins across core lines. It also pointed to a broader effort to tighten execution and reduce drag from weaker units.

NODWIN Gaming organised its work around two connected verticals, Live and Content. Live covered festivals, esports tournaments, fan conventions, and brand activations. Content included broadcast, scripted, and digital formats. The company described a flywheel where content built fandom, which then supported monetisation through experiences, partnerships, commerce, and new IP.

This approach was aimed at deeper youth engagement in emerging markets. NODWIN Gaming said it built a more diversified revenue base through this mix. The company kept the Global South as its core execution market. At the same time, it continued to look for revenue in international markets through offices and partnerships.

NODWIN Gaming FY26 events, esports, and partnerships

FY26 included activity across major live IPs. NH7 Weekender returned with a sold-out Pune edition after a relaunch as the "Festival of India". Comic Con India grew from eight to eleven cities. New rollouts covered Kochi, Guwahati, Gurugram, and Jaipur. The year also included newer expansions in Chennai and Pune.

Internationally, NODWIN Gaming ran Swahili Esports Champions 2026 in Uganda and delivered Live Matters Hong Kong 2026. The company was also appointed India’s official National Team Partner for the inaugural Esports Nations Cup 2026. NODWIN Gaming said it would mobilise and manage the Indian contingent at the tournament.

The company added new partnership work during the year. It launched MLMS with MOBA Legends and delivered OMEN activations at CES 2026. It also executed the PUBG Mobile Club Open Eastern Europe 2026. NODWIN Gaming said its investment in StarLadder supported the Counter-Strike Major in Budapest.

IPO readiness efforts included added leadership capacity and governance support. NODWIN Gaming appointed Manish Agarwal, Arnd Benninghoff, and Sidharth Kedia. The company also held discussions with strategic and financial investors as part of capital raise initiatives. It said the funding work was intended to support future expansion plans.

NODWIN Gaming also highlighted balance sheet discipline. The company said it divested or impaired assets not expected to add long-term value. FY26 included internal efficiency measures, including a disciplined headcount approach. NODWIN Gaming also deployed over ten AI-led workflow tools across finance, HR, legal, sales, and production.

Akshat Rathee, Co-Founder and Managing Director, NODWIN Gaming, said: "This has been an important milestone year for NODWIN. As we prepare for scaling up globally and our potential IPO, we have focused on building a stronger and more efficient business. We continue to scale our presence across youth culture and live entertainment across our Content and Live business lines that span gaming, esports, music and future tech.We continue to believe the opportunity ahead lies in building a global youth entertainment company rooted in the global south and emerging markets, strong community engagement, diversified monetisation, and scalable cultural IPs.

As we continue strengthening our institutional structure and capital strategy, we remain focused on long-term value creation and will focus on organic and inorganic growth through deep Founder and Company integration across all we do. We pride ourselves on the fact that we retain our founders' post earnouts and the new missions they start help us grow organically globally."

NODWIN Gaming said it operated at the intersection of gaming, esports, creators, live experiences, and digital culture. The company highlighted its expanding international footprint across South Asia, Southeast Asia, Central Asia, the Middle East, Africa, and Europe. It also linked FY26 performance to a wider focus on owned and operated IPs, alongside stronger operating discipline.