Nazara Technologies Ltd
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.
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 number |
|
|
| Funky Monkeys Centres number |
||
Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
19 May - Nazara Technologies Limited informs the Exchange about Transcript of Earnings Call.
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 18 May
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 16 May
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 May - Nazara Technologies Limited informs the Exchange about Copy of Newspaper Publication.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
13 May - Audio recording of Nazara’s Q4 and FY2026 earnings call released on May 13, 2026.
Annual reports
Concalls
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May 2026TranscriptPPT
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Mar 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT REC
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Aug 2024TranscriptAI SummaryPPT
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May 2024Transcript PPT REC
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Dec 2021TranscriptPPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021TranscriptAI SummaryPPT
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Jun 2021Transcript PPT
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Apr 2021TranscriptPPT
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.