Nazara Technologies Ltd

Nazara Technologies Ltd

₹ 1,274 0.54%
11 Jun 2:03 p.m.
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

Nazara Technologies is a leading India based diversified gaming and sports media platform with a presence in India and across emerging and developed global markets such as Africa and North America, with offerings across the interactive gaming, eSports and gamified early learning ecosystems. The company owns some of the most recognisable IP, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, Nodwin and Sportskeeda in eSports and eSports media, and Halaplay Technologies Private Limited (“Halaplay”) and Qunami in skill-based, fantasy and trivia games. Nazara was among the first entrants in the Indian market in eSports (through Nodwin) and cricket simulation (through Nextwave).

  • Market Cap 11,167 Cr.
  • Current Price 1,274
  • High / Low 1,326 / 805
  • Stock P/E 179
  • Book Value 327
  • Dividend Yield 0.00 %
  • ROCE 3.02 %
  • ROE 2.57 %
  • Face Value 4.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 97.1% CAGR over last 5 years

Cons

  • Stock is trading at 3.97 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding is low: 8.78%
  • Company has a low return on equity of 3.04% over last 3 years.
  • Earnings include an other income of Rs.80.0 Cr.
  • Debtor days have increased from 93.3 to 129 days.
  • Promoter holding has decreased over last 3 years: -10.5%

* 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 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
175.10 223.10 263.80 314.83 289.32 254.43 297.24 320.40 266.21 250.08 318.94 534.69 520.20
162.20 193.00 250.10 284.82 262.01 221.41 270.56 284.07 264.65 225.85 295.01 497.98 491.08
Operating Profit 12.90 30.10 13.70 30.01 27.31 33.02 26.68 36.33 1.56 24.23 23.93 36.71 29.12
OPM % 7.37% 13.49% 5.19% 9.53% 9.44% 12.98% 8.98% 11.34% 0.59% 9.69% 7.50% 6.87% 5.60%
9.60 6.60 23.70 11.51 5.66 11.74 13.98 18.38 20.82 25.57 23.45 21.94 9.00
Interest 0.40 0.40 0.90 0.49 2.92 1.28 2.66 2.04 0.82 0.57 1.75 2.81 4.80
Depreciation 11.30 13.60 10.30 14.92 16.04 15.21 15.08 15.20 21.50 15.20 25.74 30.52 37.29
Profit before tax 10.80 22.70 26.20 26.11 14.01 28.27 22.92 37.47 0.06 34.03 19.89 25.32 -3.97
Tax % 54.63% 27.31% 33.59% 22.94% 33.12% 26.21% -5.50% 21.22% -200.00% 30.59% 18.35% 45.97% -202.52%
4.90 16.50 17.40 20.12 9.37 20.86 24.18 29.52 0.18 23.62 16.24 13.68 4.07
EPS in Rs 0.34 1.75 1.55 2.49 0.39 2.95 3.00 3.51 1.11 2.96 2.87 3.59 0.70
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
211 190 172 170 248 454 622 1,091 1,138 1,624
135 129 123 154 255 415 536 989 1,040 1,510
Operating Profit 76 61 49 15 -7 39 86 102 99 114
OPM % 36% 32% 28% 9% -3% 9% 14% 9% 9% 7%
8 12 -26 16 15 14 24 47 65 80
Interest 0 0 2 1 1 1 1 6 8 10
Depreciation 1 1 8 20 26 36 39 57 67 118
Profit before tax 83 72 13 11 -20 17 70 87 89 66
Tax % 22% 15% 92% 38% 37% 18% 27% 29% 16% 23%
65 61 1 7 -27 14 51 61 75 51
EPS in Rs 161.30 152.58 0.50 3.19 -0.38 1.51 4.36 5.95 7.39 8.60
Dividend Payout % 31% -0% -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: %
5 Years: 46%
3 Years: 38%
TTM: 43%
Compounded Profit Growth
10 Years: %
5 Years: 97%
3 Years: 31%
TTM: 18%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 30%
1 Year: 50%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 3%
Last Year: 3%

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
Equity Capital 2 2 11 11 11 12 13 26 31 35
Reserves 156 221 341 396 490 646 1,028 1,078 1,968 2,828
-0 -0 8 9 8 1 4 38 28 219
41 42 105 92 243 359 358 555 727 1,354
Total Liabilities 200 265 465 509 752 1,018 1,404 1,698 2,753 4,435
2 2 152 137 327 296 424 583 608 2,695
CWIP 0 0 1 1 6 2 1 0 -0 -0
Investments 55 77 98 127 58 118 442 332 439 362
142 187 214 243 360 601 537 783 1,706 1,379
Total Assets 200 265 465 509 752 1,018 1,404 1,698 2,753 4,435

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
59 57 3 19 -2 68 62 8 91 66
-6 -61 -17 -60 18 -271 -329 -89 -612 -1,134
-20 -0 37 6 3 217 335 15 946 805
Net Cash Flow 33 -5 24 -35 19 14 68 -66 425 -264

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
Debtor Days 58 50 91 96 100 55 50 62 88 129
Inventory Days 10
Days Payable 1,092
Cash Conversion Cycle 58 50 91 96 100 55 50 62 -994 129
Working Capital Days 33 42 83 104 21 -8 8 33 31 44
ROCE % 36% 16% 3% -4% 2% 7% 7% 6% 3%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
19.20% 19.17% 19.14% 19.05% 19.05% 19.01% 17.16% 16.43% 10.05% 10.05% 9.00% 8.78%
10.15% 10.34% 10.15% 8.58% 8.58% 10.97% 10.46% 9.44% 6.05% 9.71% 11.59% 13.04%
5.50% 5.43% 6.31% 8.19% 10.67% 9.11% 15.90% 16.80% 16.76% 12.21% 13.51% 12.44%
65.15% 65.06% 64.41% 64.19% 61.70% 60.92% 56.48% 57.34% 67.13% 68.03% 65.90% 65.74%
No. of Shareholders 1,80,8112,00,1591,94,8661,90,9091,78,9311,71,5511,71,4971,69,4811,60,1641,44,6881,36,9311,30,672

* 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.

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