Nazara Technologies Ltd
NAZARA NSE
Nazara Technologies Ltd
MediaNSE: NAZARA BSE: 543280 Digital Entertainment
Key Fundamentals
MicrocapDigital EntertainmentMediaMarket Cap
₹12,909 Cr
Volatility
High Risk
P/E Ratio
-261.9
EBITDA
₹-945 Cr
Return on Equity
1.93%
Debt to Equity
0.06
Book Value
₹99.53
EPS
₹11.95
52W High
₹363.25
52W Low
₹215.7
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Nazara Technologies Ltd insights
34 extracted metrics + investor summaries across FY16–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Company is almost debt free.
- Debtor days have improved from 97.6 to 75.1 days.
- Company's median sales growth is 24.8% of last 10 years
Weaknesses
7- Stock is trading at 3.76 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Promoter holding has decreased over last quarter: -1.20%
- Contingent liabilities of Rs.11,921 Cr.
- Promoters have pledged 89.6% of their holding.
- Working capital days have increased from 21.0 days to 75.4 days
Growth Rate
Revenue Growth
6.62% ↗
Net Income Growth
-53.04% ↗
Cash Flow Change
-27.86% ↘
ROE
-49.61% ↗
ROCE
-46.00% ↗
EBITDA Margin (Avg.)
-346.34% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 1d agoAI opinion · based on fundamentals
Risk high
Nazara Technologies, valued at ₹12,909 Cr with a negative trailing PE of -261.9x, is an almost debt-free gaming and media company that delivered 32% compounded sales CAGR over five years but reported a TTM profit decline of -267%. Promoter pledging stands at a notably high 89.6%, and contingent liabilities of ₹11,921 Cr far exceed the company's market capitalisation.
Bull Case 7
- Company is almost debt free, providing financial flexibility and low interest burden in a capital-intensive growth phase
- Compounded sales CAGR of 32% over 5 years and 24% over 10 years demonstrates sustained top-line momentum in India's growing gaming ecosystem
- Median sales growth of 24.8% over the last 10 years indicates consistent revenue scaling ability
- ROE improved sharply to 30% in the last year from a 5-year average of 13%, suggesting improving capital efficiency
- Debtor days improved from 97.6 to 75.1 days, indicating better receivable management and cash conversion
- Compounded profit growth of 155% over 5 years reflects the operating leverage potential of the platform model
- Stock CAGR of 26% over 3 years shows market has historically rewarded the company's growth trajectory
Bear Case 8
- Promoters have pledged 89.6% of their holding, creating significant risk of forced selling or loss of control in a market downturn
- Contingent liabilities of ₹11,921 Cr dwarf the market cap of ₹12,909 Cr, posing a material risk if even a fraction crystallises
- TTM profit growth of -267% indicates the company has swung into losses, resulting in a negative PE of -261.9x
- TTM sales growth has turned negative at -6%, reversing years of top-line expansion
- Working capital days have deteriorated sharply from 21.0 to 75.4 days, signalling cash flow strain
- Promoter holding decreased by 1.20% in the last quarter, adding to governance concerns alongside high pledging
- Stock trades at 3.72x book value with no dividend payout despite reporting profits in prior years, offering no income return to shareholders
- Low interest coverage ratio indicates limited headroom to service debt if leverage increases during acquisition-led growth
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d ago Headwinds 1
- Q1FY27 loss widens sharply Aug 3
Nazara reported a consolidated net loss of ₹824.7 million for Q1FY27, driven by impairment charges and associate losses. CEO change adds leadership uncertainty with Raymond Stauffer appointed as new CEO.
Neutral 3
- Board to consider preferential allotment Aug 3
Board meeting scheduled for August 6, 2026 to consider raising funds via preferential allotment of equity shares or convertible instruments. Trading window remains closed.
- EGM scheduled for Aug 10 Jul 16
Extra-Ordinary General Meeting set for August 10, 2026 via video conferencing to transact business under the Companies Act, 2013.
- Investor meetings with brokerages Jul 9
One-on-one meetings scheduled with Axis Capital and Eternalis Capital on July 14 and July 16, 2026 in Mumbai.
TL;DR: Nazara faces a difficult quarter with a ₹824.7 million net loss in Q1FY27 and a CEO transition adding uncertainty. The company is actively engaging investors and exploring fundraising via preferential allotment, suggesting capital needs. No clear positive catalysts are visible in recent news. The trend appears to be deteriorating with widening losses and leadership change, though fundraising plans could provide runway if executed.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 254 | 297 | 320 | 266 | 250 | 319 | 535 | 520 | 499 | 526 | 406 | 398 | 429 |
| Expenses | 221 | 271 | 284 | 265 | 226 | 295 | 498 | 491 | 476 | 690 | 338 | 354 | 467 |
| Operating Profit | 33 | 27 | 36 | 2 | 24 | 24 | 37 | 29 | 23 | -164 | 68 | 44 | -38 |
| OPM % | 13% | 9% | 11% | 0.6% | 10% | 8% | 7% | 6% | 4.7% | -31% | 17% | 11% | -9% |
| Other Income | 12 | 14 | 18 | 21 | 26 | 23 | 22 | 9 | 92 | 190 | 10 | 51 | 9 |
| Interest | 1 | 3 | 2 | 1 | 1 | 2 | 3 | 5 | 5 | 7 | 4 | 6 | 4 |
| Depreciation | 15 | 15 | 15 | 22 | 15 | 26 | 31 | 37 | 65 | 61 | 60 | 46 | 48 |
| PBT | 28 | 23 | 37 | 0 | 34 | 20 | 25 | -4 | 46 | -42 | 14 | 42 | -80 |
| Tax % | 26% | -6% | 21% | -200% | 31% | 18% | 46% | -203% | -13% | -19% | 36% | -31% | 3% |
| Net Profit | 21 | 24 | 30 | 0 | 24 | 16 | 14 | 4 | 51 | -34 | 9 | 56 | -82 |
| EPS in Rs | 0.74 | 0.75 | 0.88 | 0.28 | 0.74 | 0.72 | 0.9 | 0.18 | 1.85 | -0.79 | 0.27 | 1.27 | -2.16 |
Profit & Loss
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 211 | 190 | 172 | 170 | 247 | 454 | 622 | 1,091 | 1,138 | 1,624 | 1,829 | 1,759 |
| Expenses | 135 | 129 | 123 | 154 | 255 | 415 | 536 | 989 | 1,040 | 1,509 | 1,858 | 1,849 |
| Operating Profit | 76 | 61 | 49 | 15 | -7 | 39 | 86 | 102 | 99 | 115 | -29 | -90 |
| OPM % | 36% | 32% | 28% | 9% | -3% | 9% | 14% | 9% | 9% | 7% | -1.6% | -5% |
| Other Income | 8 | 12 | -26 | 16 | 15 | 14 | 24 | 47 | 65 | 80 | 343 | 259 |
| Interest | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 6 | 8 | 11 | 22 | 21 |
| Depreciation | 1 | 1 | 8 | 20 | 27 | 35 | 39 | 57 | 67 | 118 | 231 | 214 |
| PBT | 83 | 72 | 13 | 11 | -21 | 17 | 70 | 87 | 89 | 66 | 60 | -66 |
| Tax % | 22% | 15% | 92% | 38% | 28% | 18% | 27% | 29% | 16% | 23% | -36% | — |
| Net Profit | 65 | 61 | 1 | 7 | -27 | 14 | 51 | 61 | 75 | 51 | 82 | -52 |
| EPS in Rs | 40.32 | 38.14 | 0.12 | 0.8 | -0.1 | 0.38 | 1.09 | 1.49 | 1.85 | 2.16 | 2.59 | -1.41 |
| Div. Payout % | 31% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| 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 | 496 | 646 | 1,028 | 1,078 | 1,968 | 2,828 | 3,399 |
| Borrowings | 0 | 0 | 8 | 9 | 8 | 1 | 4 | 38 | 28 | 219 | 215 |
| Other Liabilities | 41 | 42 | 105 | 92 | 258 | 359 | 358 | 555 | 727 | 1,336 | 683 |
| Total Liabilities | 200 | 265 | 465 | 509 | 773 | 1,018 | 1,404 | 1,698 | 2,753 | 4,418 | 4,371 |
| Fixed Assets | 2 | 2 | 152 | 137 | 348 | 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 |
| Other Assets | 142 | 187 | 214 | 243 | 361 | 601 | 537 | 783 | 1,706 | 1,362 | 834 |
| Total Assets | 200 | 265 | 465 | 509 | 773 | 1,018 | 1,404 | 1,698 | 2,753 | 4,418 | 4,371 |
Cash Flow
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 59 | 57 | 3 | 19 | -2 | 68 | 62 | 8 | 91 | 66 | 149 |
| Investing | -6 | -61 | -17 | -60 | 18 | -271 | -329 | -89 | -612 | -1,139 | -542 |
| Financing | -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 | 66 | 51 | 0 | 64 | -82 | 36 |
| CFO/OP | 99 | 117 | 42 | 220 | -67 | 216 | 94 | 33 | 133 | 103 | -649 |
Ratios
| 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 | 101 | 55 | 50 | 62 | 88 | 129 | 75 |
| Inventory Days | — | — | — | — | — | — | — | — | 10 | — | — |
| Days Payable | — | — | — | — | — | — | — | — | 1,092 | — | — |
| Cash Conversion Cycle | 58 | 50 | 91 | 96 | 101 | 55 | 50 | 62 | -994 | 129 | 75 |
| Working Capital Days | 33 | 42 | 72 | 92 | 19 | -9 | 6 | 22 | 26 | -38 | 75 |
| ROCE % | — | 36% | 16% | 3% | -4% | 2% | 7% | 7% | 6% | 2% | 27% |
Documents
1
Announcement under Regulation 30 (LODR)-Newspaper Publication
7 Aug - Nazara Technologies Limited informs the Exchange about Copy of Newspaper Publication. 7 Aug - Nazara Technologies Limited informs the Exchange about Copy of Newspaper Publication.
3
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
5 May - EGM on May 1, 2026 passed resolutions for enhanced Section 186 limits and preferential warrant issuance. 5 May - EGM on May 1, 2026 passed resolutions for enhanced Section 186 limits and preferential warrant issuance.
4
Board Meeting Intimation for Approving The Audited Financial Results (Consolidated And Standalone) For The Quarter And Year Ended March 31, 2026.
5 May - Board meeting on May 12, 2026 to approve audited Q4 and FY26 financial results; trading window stays closed. 5 May - Board meeting on May 12, 2026 to approve audited Q4 and FY26 financial results; trading window stays closed.
5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
5 May - Earnings call scheduled for May 13, 2026, 9:00 AM IST for Q4 and FY2026 results. 5 May - Earnings call scheduled for May 13, 2026, 9:00 AM IST for Q4 and FY2026 results.
3
Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association 6 Aug 2026
General_Announcements
Frequently Asked Questions about Nazara Technologies Ltd
What does Nazara Technologies Ltd do?
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.
Where is Nazara Technologies Ltd (NAZARA) listed?
Nazara Technologies Ltd is listed on the Indian stock exchanges. It is listed on NSE: NAZARA and BSE: 543280. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Nazara Technologies Ltd belong to?
Nazara Technologies Ltd operates in the Media sector within the Digital Entertainment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Nazara Technologies Ltd?
Nazara Technologies Ltd has a market capitalisation of approximately ₹12908.85 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Nazara Technologies Ltd?
The Price-to-Earnings (PE) ratio of Nazara Technologies Ltd is -261.90. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Nazara Technologies Ltd?
Over the past 52 weeks, Nazara Technologies Ltd has traded between a low of ₹215.7 and a high of ₹363.25. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Nazara Technologies Ltd?
Nazara Technologies Ltd has a Return on Equity (ROE) of 1.93%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Nazara Technologies Ltd on Tapetide?
On Tapetide, you can view Nazara Technologies Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
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.