Nazara Technologies Limited NAZARA NSE

Communication Services · Electronic Gaming & Multimedia · India

https://www.nazara.com

Nazara Technologies Limited operates a gaming and sports media platform in India, Africa, the Middle East, the Asia Pacific, the United States, and internationally. It operates through gaming and other segments. The company offers subscription, download of games, and support services. It also provides interactive and online gaming, including gamified early learning ecosystems; e-sports; and advertising technology ecosystems. In addition, the company owns various IPs, including World Cricket Championship, Kiddopia, Animal Jam, Classic Rummy, Openplay, Halaplay, Nazara Telco Distribution, Nodwin, NODWIN Gaming, SportsKeeda, Ultimate Teen Patti, PokerBaazi, Crash Arena Turbo Stars, King of Thieves, Curve Games, Love Island, Big Brother, Fusebox Games, Funky Monkeys, Curve Games and Smaaash, Branded, Pro Football Network, Soap Central, Datawrkz, and Space and Time. The company was incorporated in 1999 and is based in Mumbai, India with additional offices in Dubai, United Arab Emirates and Singapore.

Market & Price

Market Cap

₹10,289.67 Cr

Current Price

₹277.75

High / Low (52W)

₹357.60 / ₹217.65

Beta

0.07

Valuation

Stock P/E

10.20

Industry PE

23.64

Forward P/E

37.53

PEG Ratio

Book Value

₹94.10

Price to Book

2.95

P/S

5.63

EV/EBITDA

38.51

Dividend Yield

Profitability & Returns

ROCE

1.80%

ROE

1.97%

ROA

0.34%

Profit Margin

5.24%

Op Margin

8.07%

EPS (Latest Qtr)

₹1.27

EPS (TTM)

₹27.22

Balance Sheet & Liquidity

Debt/Equity

0.06

Quick Ratio

1.83

Current Ratio

2.05

Debt

₹214.93 Cr

Total Assets

₹4,371.18 Cr

Current Assets

₹1,238.39 Cr

Working Capital

₹632.97 Cr

Ownership

Promoter Holding

37.69%

Chg in Prom Hold

FII / Inst Holding

25.84%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹9,811.44 Cr

Total Revenue (TTM)

₹1,828.98 Cr

EBITDA

₹254.81 Cr

Free Cash Flow

₹157.85 Cr

Operating Cash Flow

₹148.63 Cr

Shares Outstanding

₹37.05 Cr

Gross Margin

74.99%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

18.79%

Profit 5Y

34.50%

Revenue (YoY)

-23.60%

Earnings (YoY)

PROS

Compounding revenue at 18.8% over 5 years.
Profit CAGR of 34.5% over 5 years.
Generates positive free cash flow.

CONS

In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Communication Services).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	NAZARA Nazara Technologies Limited NSE	277.75	10.20	₹10,289.67 Cr	-	1.80%	1.97%	18.79%	34.50%
2	IDEA Vodafone Idea Limited NIFTY_MIDNSE	13.99	4.36	₹1.52 L Cr	-	36.88%	-	2.05%	72.64%
3	INDUSTOWER Indus Towers Limited NIFTY_MIDNSE	442.05	16.31	₹1.17 L Cr	-	18.44%	19.81%	4.61%	51.86%
4	NAUKRI Info Edge (India) Limited NIFTY_MIDNSEAITECH	995.00	44.44	₹64,449.87 Cr	1.45%	4.71%	4.57%	11.88%	483.26%
5	TATACOMM Tata Communications Limited NIFTY_MIDNSEAI	1,965.00	53.76	₹56,002.50 Cr	0.89%	15.29%	31.13%	11.61%	-17.69%
6	AFFLE Affle 3i Limited NIFTY_SMALLNSEAI	1,463.00	45.25	₹20,575.72 Cr	-	15.30%	13.79%	23.64%	22.97%
7	SUNTV Sun TV Network Limited NIFTY_SMALLNSE	502.15	13.73	₹19,788.96 Cr	1.00%	15.31%	11.85%	4.74%	-5.51%
8	PFOCUS Prime Focus Limited NSE	233.40	59.54	₹18,111.62 Cr	-	24.91%	13.14%	-0.29%	14.09%
9	INDIAMART IndiaMART InterMESH Limited NIFTY_SMALLNSEAITECH	2,015.70	25.58	₹12,116.83 Cr	1.49%	19.97%	20.70%	16.77%	18.70%

Quarterly Results

Figures in INR.

Metric	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	520.20 Cr	498.77 Cr	526.46 Cr	405.97 Cr	397.78 Cr
Cost of Revenue	164.48 Cr	134.18 Cr	170.07 Cr	84.81 Cr	68.39 Cr
Gross Profit	355.72 Cr	364.59 Cr	356.39 Cr	321.16 Cr	329.39 Cr
Operating Expenses	341.98 Cr	381.67 Cr	355.21 Cr	314.20 Cr	297.29 Cr
Operating Income	13.74 Cr	-17.08 Cr	1.18 Cr	6.96 Cr	32.10 Cr
EBITDA	47.83 Cr	100.29 Cr	25.88 Cr	77.95 Cr	94.21 Cr
Interest Expense	4.80 Cr	5.15 Cr	6.77 Cr	4.34 Cr	6.23 Cr
Pretax Income	5.74 Cr	30.62 Cr	-41.71 Cr	13.91 Cr	42.46 Cr
Tax Provision	-8.04 Cr	-5.80 Cr	-7.78 Cr	5.07 Cr	-13.24 Cr
Net Income	6.63 Cr	68.39 Cr	-29.35 Cr	9.84 Cr	46.96 Cr
Diluted EPS	-0.06	1.93	-0.85	0.27	1.27

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	1,091.02 Cr	1,138.28 Cr	1,623.91 Cr	1,828.98 Cr
Cost of Revenue	-	442.11 Cr	470.29 Cr	548.49 Cr	457.45 Cr
Gross Profit	-	648.91 Cr	667.99 Cr	1,075.42 Cr	1,371.53 Cr
Operating Expenses	-	592.12 Cr	590.81 Cr	1,039.66 Cr	1,347.28 Cr
Operating Income	-	56.79 Cr	77.18 Cr	35.76 Cr	24.25 Cr
EBITDA	-	150.67 Cr	177.23 Cr	205.50 Cr	298.32 Cr
Interest Expense	-	4.72 Cr	6.80 Cr	9.94 Cr	22.49 Cr
Pretax Income	-	88.80 Cr	103.44 Cr	77.87 Cr	45.27 Cr
Tax Provision	-	25.42 Cr	13.98 Cr	15.34 Cr	-21.75 Cr
Net Income	-	39.39 Cr	56.57 Cr	75.82 Cr	95.85 Cr
Diluted EPS	-	1.49	2.04	2.37	27.62

Compounded Sales Growth

5 Years:	18.79%
1 Year:	-23.60%

Compounded Profit Growth

5 Years:	34.50%
1 Year:	-

Stock Price Performance

1 Year:	-13.76%
6 Months:	+8.37%
3 Months:	+1.89%
1 Month:	+4.55%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	1,701.78 Cr	2,761.78 Cr	4,435.47 Cr	4,371.18 Cr
Current Assets	-	997.43 Cr	1,898.00 Cr	1,511.68 Cr	1,238.39 Cr
Cash & Equivalents	-	142.12 Cr	567.02 Cr	298.85 Cr	174.64 Cr
Inventory	-	24.55 Cr	2.11 Cr	2.52 Cr	3.43 Cr
Receivables	-	186.05 Cr	274.93 Cr	575.99 Cr	376.22 Cr
Total Liabilities	-	385.15 Cr	427.23 Cr	1,198.13 Cr	819.48 Cr
Current Liabilities	-	334.33 Cr	382.19 Cr	937.38 Cr	605.42 Cr
Long Term Debt	0	-	0	91.94 Cr	48.77 Cr
Total Debt	-	38.14 Cr	27.70 Cr	218.86 Cr	214.93 Cr
Total Equity	-	1,104.89 Cr	1,998.60 Cr	2,863.05 Cr	3,473.49 Cr
Shares Outstanding	-	26.47 Cr	30.62 Cr	35.05 Cr	37.05 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	8.09 Cr	90.79 Cr	65.50 Cr	148.63 Cr
Investing Cash Flow	-	-95.24 Cr	-603.00 Cr	-1,133.95 Cr	-542.48 Cr
Financing Cash Flow	-	14.52 Cr	946.27 Cr	804.92 Cr	360.88 Cr
Capital Expenditure	-	-8.27 Cr	-26.85 Cr	-147.78 Cr	-112.72 Cr
Free Cash Flow	-	-18.00 L	63.94 Cr	-82.28 Cr	35.91 Cr
Net Change in Cash	-	-72.30 Cr	434.06 Cr	-263.53 Cr	-32.97 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	59.5%	58.7%	66.2%	75.0%
Operating Margin %	-	5.2%	6.8%	2.2%	1.3%
Net Margin %	-	3.6%	5.0%	4.7%	5.2%
ROE %	-	3.6%	2.8%	2.6%	2.8%
ROCE %	-	4.2%	3.2%	1.0%	0.6%

Shareholding Pattern

Insiders

37.69%

Institutions

25.84%

Public Float

41.47%

Analyst View

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NAZARA · Communication Services