Is Nazara Technologies Ltd (NAZARA) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Nazara Technologies Ltd is a below average quality company .

Is Nazara Technologies Ltd (NAZARA) undervalued or overvalued?

The key valuation ratios of Nazara Technologies Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone .

What is Nazara Technologies Ltd (NAZARA) share price return in the past 10 years?

Data is not available for this company

Is Nazara Technologies Ltd (NAZARA) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Nazara Technologies Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Nazara Technologies Ltd (NAZARA)?

Company share prices are keep on changing according to the market conditions. The current trading price of Nazara Technologies Ltd (NAZARA) on 13-Apr-2026 16:59:59 at 16:59 is 249.45.

What is the market cap of Nazara Technologies Ltd (NAZARA)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Apr-2026 at 16:59, the market cap of Nazara Technologies stood at Rs. 9241.25 Cr.

What is the P/E ratio of Nazara Technologies?

The latest standalone P/E ratio of Nazara Technologies as of 13-Apr-2026 is 0.00.

What is the P/B ratio of Nazara Technologies Ltd (NAZARA)?

The latest standalone P/B ratio of Nazara Technologies Ltd (NAZARA) as of 13-Apr-2026 is 4.13.

What is the 52-week high and low of Nazara Technologies Ltd (NAZARA)?

The 52-week high of Nazara Technologies Ltd (NAZARA) is Rs. 362.50 and the 52-week low is Rs. 216.00.

What is the TTM revenue of Nazara Technologies Ltd (NAZARA)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nazara Technologies is Rs. 68.08 (Cr.).

Nazara Technologies Ltd (NAZARA) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: Nazara Technologies Ltd (NAZARA)
Brand: Nazara Technologies

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	63.6%	16%	-2.3%	1.3%	3.7%	-0.2%	-5%	-2.3%	-7.2%	1.5%	-
Value Creation Index ⓘ	3.7	0.2	-1.2	-0.9	-0.7	-1.0	-1.4	-1.2	-1.5	-0.9	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	117	77.4	66.4	43.5	46.1	32.9	20.4	23	23.3	34.4	68
Sales YoY Gr.	-	-33.9%	-14.2%	-34.5%	6.1%	-28.7%	-38%	12.6%	1.5%	47.7%	-
Adj EPS ⓘ	1.6	0.4	0.7	0.2	0.4	0.2	-0.8	-0.1	-0.7	0.6	-25.2
YoY Gr.	-	-76.3%	86.5%	-75.4%	111.8%	-50%	-544.4%	NA	NA	NA	-
BVPS (₹) ⓘ	3.8	4.4	9.4	10.3	14.2	18.8	34.1	34.6	52.3	76.5	60.4
Adj Net Profit ⓘ	31	7.4	14.8	3.8	8	4.4	-21	-3.5	-22	20.8	-935
Cash Flow from Ops. ⓘ	8.3	8.3	-7.6	3.3	8.1	48.7	-48	-17.6	-17.9	-43.7	-
Debt/CF from Ops. ⓘ	0	0	0	0	0	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-12.7%	-5.7%	19.1%	47.7%
Adj EPS ⓘ	-10.2%	10.4%	NA	NA
BVPSⓘ	39.7%	40.1%	30.9%	46.3%
Share Price	-	4.3%	22.9%	3.5%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	44.8	8.9	9.4	1.6	2.7	1.1	-3.1	-0.4	-1.8	1	-36.9
Op. Profit Mgn % ⓘ	17.8	10.4	-1.2	-10.8	28.3	6.4	-113.2	-54.4	-107.4	-80.7	-49.3
Net Profit Mgn % ⓘ	26.5	9.6	22.3	8.7	17.4	13.5	-102.9	-15.4	-94.5	60.3	-1372.9
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	-
Working Cap Days ⓘ	94	130	177	271	192	514	709	216	628	1,612	1,843
Cash Conv. Cycle ⓘ	-24	-21	-12	-60	-60	-63	-65	-2	33	48	1,726

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 19.05%

Sales growth is good in last 4 quarters at 140.21%

Return on Equity is Poor

Net Profit has been subdued in last 3 years 0.00%

	Standalone	Consolidated
TTM EPS (₹)	-25.2	1.5
TTM Sales (₹ Cr.)	68.1	1,951
BVPS (₹) ⓘ	60.4	91.9
Reserves (₹ Cr.) ⓘ	2,163	3,330
P/BV ⓘ	4.13	2.71
PE ⓘ	0.00	166.51

From the Market
52 Week Low / High (₹)	216.00 / 362.50
All Time Low / High (₹)	120.49 / 419.30
Market Cap (₹ Cr.)	9,241
Equity (₹ Cr.)	74.1
Face Value (₹)	2
Industry PE ⓘ	22.7

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	117	77	66	43	46	33	20	23	23	34
Operating Expenses > ⓘ +	96	69	68	52	37	37	64	68	164	63
Manufacturing Costs	11	6	2	0	0	0	0	0	0	0
Material Costs	0	0	0	0	0	0	0	0	0	0
Employee Cost	20	21	25	16	14	17	21	21	20	23
Other Costs > ⓘ	66	42	41	35	22	20	43	47	144	40
Operating Profit > ⓘ	21	8	-2	-8	9	-4	-43	-45	-141	-29
Operating Profit Margin (%)	17.8%	10.4%	-2.5%	-18.5%	20.5%	-13.1%	-211.0%	-196.0%	-605.0%	-83.6%
Other Income > ⓘ +	24	6	35	12	7	9	13	27	53	66
Exceptional Items > ⓘ	0	0	-36	0	0	0	0	0	0	0
Interest > ⓘ	0	0	0	0	1	0	0	0	2	1
Depreciation > ⓘ	1	1	1	1	5	5	4	3	2	5
Profit Before Tax > ⓘ	44	13	-4	3	10	-1	-35	-21	-92	32
Tax > ⓘ	12	4	7	1	4	-2	-1	3	6	4
Profit After Tax	32	9	-10	2	7	1	-34	-24	-98	28
PAT Margin (%)	27.5%	12.0%	-15.7%	5.1%	15.1%	2.4%	-165.0%	-104.0%	-418.0%	81.5%
Adjusted EPS (₹)	1.6	0.5	-0.5	0.1	0.3	0.0	-1.3	-0.9	-3.2	0.8
Dividend Payout Ratio (%)	62%	0%	-1,565%	0%	0%	0%	0%	0%	0%	0%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	75	88	203	227	317	458	887	916	1,601	2,681
Share Capital ⓘ	2	2	11	11	11	12	13	26	31	35
Reserves ⓘ	73	86	192	216	306	446	874	889	1,571	2,646
Debt +	0	0	0	0	0	0	0	0	0	0
Long Term Debt	0	0	0	0	0	0	0	0	0	0
Short Term Debt	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	17	10	15	10	8	13	2	2	9	15
Others Liabilities ⓘ	6	8	25	30	44	97	24	5	18	39
Total Liabilities ⓘ	97	106	243	267	370	569	913	923	1,628	2,734
Fixed Assets
Net Fixed Assets ⓘ +	2	2	1	1	5	1	3	1	5	84
Gross Block	6	6	7	7	17	18	23	10	11	94
Accumulated Depreciation	4	5	6	6	12	17	21	9	6	10
CWIP ⓘ	0	0	0	0	0	0	0	0	0	5
Investments ⓘ	53	73	198	240	336	444	870	806	685	2,234
Inventories	0	0	0	0	0	0	0	0	0	0
Trade Receivables	18	12	22	7	8	4	1	3	9	17
Cash Equivalents	10	8	3	3	4	56	29	101	873	74
Others Assets ⓘ	14	12	19	16	17	63	11	13	55	320
Total Assets ⓘ	97	106	243	267	370	569	913	923	1,628	2,734

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	8	8	-8	3	8	49	-48	-18	-18	-44
PBT ⓘ	44	13	-4	3	10	-1	-35	-21	-92	32
Adjustment ⓘ	-23	1	18	2	3	4	25	11	78	-53
Changes in Working Capital ⓘ	-1	-0	-15	1	-3	47	-38	-7	-1	-17
Tax Paid ⓘ	-12	-5	-6	-2	-2	-1	-0	0	-3	-5
Cash Flow From Investing Activity ⓘ +	18	-11	-44	-15	-4	-158	-321	-24	-362	-1,147
Capex	-2	-1	-1	-0	-0	-0	-0	-1	-0	-68
Net Investments	-1	-10	-8	7	52	-72	-275	73	-274	491
Others ⓘ	21	0	-35	-22	-56	-85	-46	-97	-88	-1,570
Cash Flow From Financing Activity ⓘ +	-20	0	46	12	-3	108	314	39	750	850
Net Proceeds from Shares ⓘ	0	0	77	12	3	112	318	42	760	853
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	0	0	0	0	0	0	-0	-0	-1	-1
Dividend Paid ⓘ	-20	0	-30	0	0	0	0	0	0	0
Others ⓘ	-0	0	-1	0	-5	-4	-3	-3	-9	-2
Net Cash Flow ⓘ	6	-2	-5	0	1	-1	-55	-3	369	-341

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	46.85	11.31	-7.15	1.03	2.56	0.21	-5.03	-2.66	-7.75	1.31
ROCE (%)	63.61	16.03	-2.28	1.32	3.69	-0.17	-5.01	-2.32	-7.18	1.53
Asset Turnover Ratio	1.29	0.76	0.38	0.17	0.14	0.07	0.03	0.02	0.02	0.02
PAT to CFO Conversion(x)	0.25	0.89	N/A	1.5	1.14	49	N/A	N/A	N/A	-1.57
Working Capital Days
Receivable Days	51	71	93	124	62	70	42	28	97	140
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0

About Nazara Technologies Ltd

Nazara Technologies (Nazara) is publicly listed gaming company, with a growing presence globally. The company operates at the confluence of online and offline gaming, sports media, esports, and adtech with a strategic emphasis on highmargin gaming ventures, proprietary IP development, operational excellence and international growth. The company’s vast gaming portfolio includes widely recognised IPs across diverse genres, geographies and age groups. These include Kiddopia and Animal Jam in the gamified early learning space, as well as World Cricket Championship (WCC), which targets cricket enthusiasts aged 18 to 45. The portfolio also features IP-based interactive simulation titles such as Love Island and Big Brother Games, aimed at young adults.

Nazara owns and publishes casual action games such as Crash Arena Turbo Stars and King of Thieves. The company acquired these two popular global gaming IPs from ZeptoLab, reaffirming its leadership position in the mobile gaming segment in India and overseas. Additionally, the Company owns Curve Games, a premium PC and console publisher expanding its presence in global markets. Its recent offline forays include Funky Monkeys and Smaaash, thereby establishing a 360-degree gaming ecosystem across physical and digital experiences. In the skill-based social gaming space, Nazara owns Ultimate Teen Patti (UTP).

The esports and digital sports media verticals are led by Nodwin Gaming and Absolute Sports, respectively. Nodwin Gaming and Absolute Sports, which operates Sportskeeda, were the material unlisted subsidiaries of the company. Nodwin Gaming delivers strong audience engagement across India and international markets, while Sportskeeda continues to grow as a high-reach, multi-sport content platform. Notably, Pro Football Network (PFN), a subsidiary under Absolute Sports, is emerging as a prominent voice in the US football media ecosystem, accelerating the company’s penetration into Western sports content.

Business area of the bank

The company is engaged in business of building a digital gaming ecosystem, end to end digital advertisement solutions, publishing of eSports news and conducting and managing events related to eSports and other contents through consumer base in India and worldwide.

Major events and milestones

1999

Founded by Vikash Mittersain and Nitish Mittersain.

2004-06

Led the development of content-driven microtransaction models for telecom platforms.
Launched cricket games featuring iconic players such as MS Dhoni and Sachin Tendulkar.
Championed a strategic shift to a mobile-first business approach.

2007-15

Established distribution networks across 64 countries spanning Africa, the Middle East, and Asia
Built strong partnerships with 121 telecom operators globally.

2015-19

Entered the kids’ subscription services segment.
Acquired majority stake in NODWIN Gaming to mark entry into the esports sector.
Acquired NextWave Multimedia, scaling the World Cricket Championship (WCC) game franchise.
Acquired Sportskeeda, significantly expanding its footprint in the US sports media market.

2020-22

Successfully completed an IPO in March 2021.
Krafton, publisher of PUBG, invested in NODWIN Gaming.
Acquired majority stake in Paper Boat Apps (Kiddopia).
Acquired 100% of WildWorks, boosting the Gamified Early Learning portfolio.

2023

Sportskeeda acquired Pro Football Network, the 3 NFL publisher in the US, adding 5 million MAUs.
NODWIN acquired a 51% stake in Branded Private Limited (Singapore) for $1.3 million.
Secured $28 million (Rs 232 crore) in funding for NODWIN Gaming from new and existing investors.

2024

Raised Rs 750 crore via preferential allotment, onboarding marquee investors
Increased ownership to 100% in Paper Boat Apps and NextWave Multimedia
Sportskeeda further expanded by acquiring Soap Central and Deltia’s Gaming.
NODWIN Gaming broadened its global footprint with acquisitions of Freaks4U Gaming; Branded Pte. Limited.; Comic Con India; PublishME; Ninja Gaming.
Achieved major financial milestones of Rs 1,000 crore in annual revenue and Rs 100 crore in annual EBITDA.

2025

Acquired Fusebox establishing a stronghold in narrative-based mobile gaming.
Entered offline gaming with Funky Monkeys and Smaaash, creating a 360-degree gaming ecosystem.
Took full ownership of Kiddopia enabling fungible cash flows and faster strategic execution.
Acquired well known gaming IP C.A.T.S. and King of Thieves from ZeptoLab.

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Nazara Technologies Ltd (NAZARA) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Nazara Technologies Share Price