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 ₹ 8,703 Cr.
- Current Price ₹ 235
- High / Low ₹ 363 / 216
- Stock P/E 357
- Book Value ₹ 60.4
- Dividend Yield 0.00 %
- ROCE 0.99 %
- ROE 0.88 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
Cons
- Stock is trading at 3.89 times its book value
- Company has a low return on equity of -2.64% over last 3 years.
- Promoters have pledged 55.9% of their holding.
- Company has high debtors of 180 days.
- Working capital days have increased from 1,281 days to 3,122 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
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 | 46 | 117 | 77 | 66 | 43 | 46 | 33 | 20 | 23 | 23 | 34 | 68 | |
| 21 | 32 | 96 | 69 | 104 | 52 | 37 | 37 | 64 | 68 | 156 | 63 | 102 | |
| Operating Profit | 10 | 14 | 21 | 8 | -37 | -8 | 9 | -4 | -43 | -45 | -133 | -29 | -34 |
| OPM % | 32% | 30% | 18% | 10% | -56% | -19% | 21% | -13% | -211% | -196% | -569% | -84% | -49% |
| 1 | 2 | 24 | 6 | 35 | 12 | 7 | 9 | 13 | 27 | 45 | 66 | -891 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 2 | 1 | 3 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 5 | 5 | 4 | 3 | 2 | 5 | 20 |
| Profit before tax | 10 | 15 | 44 | 13 | -4 | 3 | 10 | -1 | -35 | -21 | -92 | 32 | -947 |
| Tax % | 34% | 31% | 27% | 30% | 174% | 29% | 34% | -196% | -2% | 13% | 6% | 12% | |
| 7 | 10 | 32 | 9 | -10 | 2 | 7 | 1 | -34 | -24 | -98 | 28 | -935 | |
| EPS in Rs | 10.10 | 15.04 | 20.07 | 5.78 | -0.48 | 0.10 | 0.31 | 0.03 | -1.30 | -0.91 | -3.18 | 0.80 | -25.22 |
| Dividend Payout % | 0% | 0% | 62% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | 19% |
| TTM: | 141% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 36% |
| TTM: | 130% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 3% |
| 3 Years: | 20% |
| 1 Year: | -2% |
| Return on Equity | |
|---|---|
| 10 Years: | -2% |
| 5 Years: | -3% |
| 3 Years: | -3% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.87 | 0.87 | 2 | 2 | 11 | 11 | 11 | 12 | 13 | 26 | 31 | 35 | 74 |
| Reserves | 20 | 30 | 73 | 90 | 212 | 242 | 332 | 458 | 886 | 889 | 1,572 | 2,646 | 2,162 |
| 1 | 1 | 0 | 0 | 0 | 0 | 4 | 0 | 3 | 0 | 5 | 20 | 36 | |
| 7 | 7 | 24 | 15 | 23 | 17 | 25 | 102 | 18 | 10 | 20 | 37 | 32 | |
| Total Liabilities | 30 | 40 | 99 | 107 | 246 | 270 | 372 | 571 | 919 | 926 | 1,628 | 2,738 | 2,304 |
| 0 | 1 | 2 | 2 | 1 | 1 | 5 | 1 | 3 | 1 | 5 | 84 | 96 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 0 |
| Investments | 0 | 1 | 53 | 73 | 198 | 240 | 336 | 444 | 870 | 806 | 685 | 2,234 | 1,785 |
| 29 | 37 | 44 | 32 | 46 | 29 | 31 | 126 | 46 | 119 | 938 | 415 | 424 | |
| Total Assets | 30 | 40 | 99 | 107 | 246 | 270 | 372 | 571 | 919 | 926 | 1,628 | 2,738 | 2,304 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 8 | -8 | 3 | 8 | 49 | -48 | -18 | -18 | -44 | |||
| 18 | -11 | -44 | -15 | -4 | -158 | -321 | -24 | -362 | -1,145 | |||
| -20 | 0 | 46 | 12 | -3 | 108 | 314 | 39 | 750 | 850 | |||
| Net Cash Flow | 6 | -2 | -5 | 0 | 1 | -1 | -54 | -3 | 369 | -339 | ||
| Free Cash Flow | 6 | 8 | -8 | 3 | 8 | 49 | -48 | -18 | -18 | -112 | ||
| CFO/OP | 99% | 170% | 3% | -71% | 110% | -1,177% | 111% | 39% | 11% | 134% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2011 | Mar 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 124 | 48 | 57 | 55 | 123 | 60 | 67 | 46 | 9 | 48 | 79 | 180 |
| Inventory Days | 0 | 0 | ||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 124 | 48 | 57 | 55 | 123 | 60 | 67 | 46 | 9 | 48 | 79 | 180 |
| Working Capital Days | 98 | 79 | 22 | 27 | 87 | 1 | -93 | -455 | -229 | 75 | 646 | 3,122 |
| ROCE % | 54% | 13% | -3% | 1% | 3% | -0% | -5% | -3% | -8% | 1% |
Insights
In beta| Sep 2024 | Dec 2025 | |
|---|---|---|
| Kiddopia Subscribers number |
|
|
| Funky Monkeys Centres number |
||
Documents
Announcements
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
1 Apr - Nazara updates EGM date to May 1, 2026 for approved preferential issue.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1 Apr - Nazara Technologies Limited informs the Exchange about Schedule of meet
- Closure of Trading Window 31 Mar
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
30 Mar - On Mar 30, 2026 acquired 4,188 shares (12.56%) for INR 7,50,08,955; Nextwave now 100% owned.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
30 Mar - Nazara invests INR14,98,99,176 (Mar 30, 2026) for 1,278 Pre-Series C CCPS (1.36%), post-hold 7.62%.
Annual reports
Concalls
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Mar 2026TranscriptAI SummaryPPT
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Aug 2025Transcript PPT REC
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May 2024Transcript PPT REC
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Jul 2022TranscriptAI SummaryPPT
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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.