Nazara Technologies Ltd

Nazara Technologies Ltd

₹ 284 -0.60%
22 May - close price
About

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

Key Points

Business Overview[1]
Nazara Technologies is India’s only publicly
listed gaming company. Its key businesses include Curve Games, Kiddopia, Animal
Jam, Fusebox Games (Love Island, Big
Brother, Bigg Boss), World Cricket Champ
and Sportskeeda, along with offline gaming businesses such as Funky Monkeys and Smaaash Entertainment. The company
also operates Datawrkz, a digital ad tech business.
With presence in India, North America, and
other global markets, Nazara is building a
global gaming platform with IP, publishing,
and operating capabilities.

  • Market Cap 10,503 Cr.
  • Current Price 284
  • High / Low 363 / 216
  • Stock P/E 10.9
  • Book Value 93.8
  • Dividend Yield 0.00 %
  • ROCE 27.2 %
  • ROE 30.5 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 155% CAGR over last 5 years
  • Debtor days have improved from 97.6 to 75.1 days.
  • Company's median sales growth is 24.8% of last 10 years

Cons

  • Stock is trading at 3.02 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Contingent liabilities of Rs.11,921 Cr.
  • Promoters have pledged 55.9% of their holding.
  • Earnings include an other income of Rs.343 Cr.
  • Working capital days have increased from 21.0 days to 75.4 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
289 254 297 320 266 250 319 535 520 499 526 406 398
262 221 271 284 265 226 295 498 491 476 690 338 354
Operating Profit 27 33 27 36 2 24 24 37 29 23 -164 68 44
OPM % 9% 13% 9% 11% 1% 10% 8% 7% 6% 5% -31% 17% 11%
6 12 14 18 21 26 23 22 9 92 190 10 51
Interest 3 1 3 2 1 1 2 3 5 5 7 4 6
Depreciation 16 15 15 15 22 15 26 31 37 65 61 60 46
Profit before tax 14 28 23 37 0 34 20 25 -4 46 -42 14 42
Tax % 33% 26% -6% 21% -200% 31% 18% 46% -203% -13% -19% 36% -31%
9 21 24 30 0 24 16 14 4 51 -34 9 56
EPS in Rs 0.10 0.74 0.75 0.88 0.28 0.74 0.72 0.90 0.18 1.85 -0.79 0.27 1.27
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
211 190 172 170 248 454 622 1,091 1,138 1,624 1,829
135 129 123 154 255 415 536 989 1,040 1,509 1,858
Operating Profit 76 61 49 15 -7 39 86 102 99 115 -29
OPM % 36% 32% 28% 9% -3% 9% 14% 9% 9% 7% -2%
8 12 -26 16 15 14 24 47 65 80 343
Interest 0 0 2 1 1 1 1 6 8 11 22
Depreciation 1 1 8 20 26 36 39 57 67 118 231
Profit before tax 83 72 13 11 -20 17 70 87 89 66 60
Tax % 22% 15% 92% 38% 37% 18% 27% 29% 16% 23% -36%
65 61 1 7 -27 14 51 61 75 51 82
EPS in Rs 40.32 38.14 0.12 0.80 -0.10 0.38 1.09 1.49 1.85 2.16 2.59
Dividend Payout % 31% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 24%
5 Years: 32%
3 Years: 19%
TTM: 13%
Compounded Profit Growth
10 Years: 31%
5 Years: 155%
3 Years: 194%
TTM: 1271%
Stock Price CAGR
10 Years: %
5 Years: 7%
3 Years: 21%
1 Year: -13%
Return on Equity
10 Years: 12%
5 Years: 13%
3 Years: 15%
Last Year: 30%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 2 2 11 11 11 12 13 26 31 35 74
Reserves 156 221 341 396 490 646 1,028 1,078 1,968 2,828 3,399
0 0 8 9 8 1 4 38 28 219 215
41 42 105 92 243 359 358 555 727 1,336 683
Total Liabilities 200 265 465 509 752 1,018 1,404 1,698 2,753 4,418 4,371
2 2 152 137 327 296 424 583 608 1,731 1,473
CWIP 0 0 1 1 6 2 1 0 0 14 1
Investments 55 77 98 127 58 118 442 332 439 1,312 2,064
142 187 214 243 360 601 537 783 1,706 1,362 834
Total Assets 200 265 465 509 752 1,018 1,404 1,698 2,753 4,418 4,371

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
59 57 3 19 -2 67 62 8 91 66 149
-6 -61 -17 -60 18 -270 -329 -89 -612 -1,139 -542
-20 0 37 6 3 217 335 15 946 805 361
Net Cash Flow 33 -5 24 -35 19 14 68 -66 425 -268 -33
Free Cash Flow 57 56 1 13 -9 65 51 -0 64 -82 36
CFO/OP 99% 117% 42% 220% -66% 215% 94% 33% 133% 103% -649%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 58 50 91 96 100 55 50 62 88 129 75
Inventory Days 10
Days Payable 1,092
Cash Conversion Cycle 58 50 91 96 100 55 50 62 -994 129 75
Working Capital Days 33 42 72 92 12 -9 6 22 26 -38 75
ROCE % 36% 16% 3% -4% 2% 7% 7% 6% 2% 27%

Insights

In beta
Sep 2024 Dec 2025
Kiddopia Subscribers
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Funky Monkeys Centres
number

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Shareholding Pattern

Numbers in percentages

15 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
19.05% 19.01% 17.16% 16.43% 10.05% 10.05% 9.00% 8.78% 8.30% 35.45% 35.45% 35.45%
8.58% 10.97% 10.46% 9.44% 6.05% 9.71% 11.59% 13.04% 12.98% 12.63% 11.98% 13.30%
10.67% 9.11% 15.90% 16.80% 16.76% 12.21% 13.51% 12.44% 9.80% 7.18% 3.62% 2.16%
61.70% 60.92% 56.48% 57.34% 67.13% 68.03% 65.90% 65.74% 68.90% 44.73% 48.95% 49.08%
No. of Shareholders 1,78,9311,71,5511,71,4971,69,4811,60,1641,44,6881,36,9311,30,6721,19,2231,11,1971,04,8791,00,165

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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