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 ₹ 11,711 Cr.
- Current Price ₹ 1,337
- High / Low ₹ 1,355 / 824
- Stock P/E 187
- 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 4.09 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.48%
- Promoter holding is low: 8.31%
- 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.
* 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 | |
---|---|---|---|---|---|---|---|---|---|---|
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: | 27% |
1 Year: | 46% |
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% |
Documents
Announcements
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
1d - Nazara's subsidiary Nodwin acquires 92.3% of AFK Gaming for INR 7.58 Cr, making AFK a step-down subsidiary.
-
Closure of Trading Window
2d - Trading window closed from July 1, 2025, till 48 hours post Q1 financial results announcement.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
28 Jun - Nazara's subsidiary invests USD 1M for 1.54% in Getstan, raising stake to 14.57%, expanding gaming ecosystem.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
27 Jun - Nazara's subsidiary acquires Prime Timer IP for USD 500K to boost global entertainment media presence.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
26 Jun - Nazara invested USD 550,000 (~INR 4.74 Cr) in Play Fund III and F4 Venture Fund I as Limited Partner.
Annual reports
Concalls
-
Jun 2025Transcript PPT
-
May 2025TranscriptNotesPPT
-
Feb 2025Transcript PPT
-
Nov 2024Transcript PPT
-
Aug 2024Transcript PPT
-
Aug 2024TranscriptNotesPPT
-
May 2024Transcript PPT REC
-
Feb 2024TranscriptPPT
-
Feb 2024Transcript PPT
-
Nov 2023Transcript PPT
-
Aug 2023TranscriptNotesPPT
-
Aug 2023Transcript PPT
-
Jul 2023TranscriptNotesPPT
-
May 2023TranscriptPPT
-
May 2023Transcript PPT
-
May 2023TranscriptNotesPPT
-
Feb 2023Transcript PPT
-
Oct 2022Transcript PPT
-
Aug 2022Transcript PPT
-
Jul 2022TranscriptNotesPPT
-
Jul 2022TranscriptNotesPPT
-
May 2022Transcript PPT
-
May 2022TranscriptNotesPPT
-
Feb 2022Transcript PPT
-
Dec 2021TranscriptPPT
-
Nov 2021Transcript PPT
-
Aug 2021Transcript PPT
-
Jul 2021TranscriptNotesPPT
-
Jun 2021Transcript PPT
-
Apr 2021TranscriptPPT
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).