Nazara Technologies Limited
₹398.45-₹7.15 (-1.8%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹9,793 Cr
- P/E
- 370.0x
- EV / EBITDA
- -109.2x
- Revenue
- ₹34.0 Cr
- Net margin
- -426.1%
- ROCE
- -8.3%
Price chart
Technical chartScreen technicals →+47.4% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- +1.5%
- 3M
- +29.2%
- 6M
- +51.0%
- 1Y
- +47.4%
- 5Y
- +38.4%
52-week range
Day change -₹7.15 (-1.8%) from ₹406 to ₹398 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in NAZARA, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Revenue grew 47.8% YoY
Concerns1
- Valuation elevated — PE of 370.0x is 429% above peer average of 70.0x
Rule-based from financial data. Not advice.
About the company
Nazara Technologies Limited operates a gaming and sports media platform in India, Africa, the Middle East, the Asia Pacific, the United States, and internationally. It operates through gaming and other segments. The company offers subscription, download of games, and support services.
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Nazara Technologies Limited operates a gaming and sports media platform in India, Africa, the Middle East, the Asia Pacific, the United States, and internationally. It operates through gaming and other segments. The company offers subscription, download of games, and support services. It also provides interactive and online gaming, including gamified early learning ecosystems; e-sports; and advertising technology ecosystems. In addition, the company owns various IPs, including World Cricket Championship, Kiddopia, Animal Jam, Classic Rummy, Openplay, Halaplay, Nazara Telco Distribution, Nodwin, NODWIN Gaming, SportsKeeda, Ultimate Teen Patti, PokerBaazi, Crash Arena Turbo Stars, King of Thieves, Curve Games, Love Island, Big Brother, Fusebox Games, Funky Monkeys, Curve Games and Smaaash, Branded, Pro Football Network, Soap Central, Datawrkz, and Space and Time. The company was incorporated in 1999 and is based in Mumbai, India with additional offices in Dubai, United Arab Emirates and Singapore.
- Sector
- Technology
- Shares outstanding
- 37.1 Cr shares
- ISIN
- INE418L01047
- BSE code
- 543280
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹9,793 Cr
- P/E
- 370.0x
- P/B
- 4.4x
- EV / EBITDA
- -109.2x
- EV / Sales
- 417.8x
- P/S
- 425.8x
- Earnings yield
- 0.3%
- 52-week high
- ₹416.80
- 52-week low
- ₹217.70
Profitability
- Operating margin
- -578.3%
- Net margin
- -426.1%
- EBITDA margin
- -382.6%
- ROE
- -6.1%
- ROCE
- -8.3%
- ROA
- -6.0%
- Dividend payout
- 0.0%
- Tax rate
- 6.0%
- Other income, % of PBT
- -48.9%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹34.0 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 47.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -12.9%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹88.0 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -388.9%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -128.6%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹18.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.0%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹339 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 75.8%
Solvency and efficiency
- Current ratio
- 81.15
- Debt / Equity
- 0.00
- Debt / Assets
- 0.00
- Debt / EBITDA
- -0.06
- Financial leverage
- 1.02
- CFO / Net profit
- 0.18
- Cash / Market cap
- 9.6%
- Cash per share
- ₹25.29
- Asset turnover
- 0.01
- Fixed asset turnover
- 4.60
- Capital intensity
- 0.22
- Debtor days
- 146 days
- Cash conversion cycle
- 146 days
Where the revenue went
FY2025 ended in a loss, so the lines are listed rather than drawn as a flow.
| Line | FY2025 |
|---|---|
| Sales | ₹34 Cr |
| Expenses | ₹63 Cr |
| Operating profit | -₹29 Cr |
| Other income | ₹66 Cr |
| Interest | ₹1 Cr |
| Depreciation | ₹5 Cr |
| Profit before tax | ₹32 Cr |
| Tax and other | ₹4 Cr |
| Net profit | ₹28 Cr |
Revenue and net profit
Revenue grew 47.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹33 Cr | ₹1 Cr |
| FY2022 | ₹20 Cr | -₹34 Cr |
| FY2023 | ₹23 Cr | -₹24 Cr |
| FY2024 | ₹23 Cr | -₹98 Cr |
| FY2025 | ₹34 Cr | ₹28 Cr |
Cash flows
FY2025: -₹44.0 Cr from operations, -₹1,189 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹49 Cr | -₹109 Cr |
| FY2022 | -₹48 Cr | -₹369 Cr |
| FY2023 | -₹18 Cr | -₹42 Cr |
| FY2024 | -₹18 Cr | -₹380 Cr |
| FY2025 | -₹44 Cr | -₹1,189 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹34 Cr+47.8%1Y
- Net profit
- ₹28 Cr
- Cash from operations
- -₹44 Cr
- Free cash flow
- -₹1,189 Cr
- Revenue CAGR, 5Y
- -12.9%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹34 Cr | -₹29 Cr | — | ₹28 Cr | -₹44 Cr | -₹1,189 Cr | 1.0% | +47.8% | -128.6% |
Monthly returns
Month-by-month returns of NAZARA across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹2,738 Cr |
| Equity capital | ₹35 Cr |
| Reserves | ₹2,646 Cr |
| Borrowings | ₹20 Cr |
| Other liabilities | ₹37 Cr |
| Assets | ₹2,738 Cr |
| Fixed assets | ₹84 Cr |
| Capital work in progress | ₹5 Cr |
| Investments | ₹2,234 Cr |
| Other assets | ₹415 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
NAZARA trades at 370.0x earnings against a peer median of 52.1x (a 610% premium).
Not shown (no positive earnings and no EV / Sales): Tata Teleservices (Maharashtra) Ltd.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Nazara Technologies LimitedNAZARAthis companyP/E ↑ premium | ₹9,793 Cr | 370.0x | 4.4x | -6.1% | -109.2x |
| Newgen Software Technologies LimitedNEWGEN | ₹11,084 Cr | 35.7x | 7.5x | 20.6% | 34.8x |
| WAAREE RENEWABLE TECHNOLOGIES LIMITEDWAAREERTL | ₹10,499 Cr | 29.6x | 15.9x | 58.5% | 49.4x |
| Lumax Auto Technologies Ltd.LUMAXTECH | ₹10,225 Cr | 109.0x | 12.0x | 13.8% | 59.6x |
| Sonata Software Ltd.SONATSOFTW | ₹9,856 Cr | 51.0x | 12.3x | 50.8% | 24.0x |
| HFCL LIMITEDHFCL | ₹9,582 Cr | 383.0x | 2.3x | 8.1% | 16.1x |
| OLECTRA GREENTECH LIMITEDOLECTRA | ₹9,271 Cr | 63.6x | 8.2x | 8.1% | 54.1x |
| Tata Teleservices (Maharashtra) Ltd.TTML | ₹9,130 Cr | — | -0.5x | 6.4% | 53.6x |
| BLACK BOX LIMITEDBBOX | ₹8,803 Cr | 402.0x | 18.8x | -4.8% | 628.6x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
NAZARA since 1 January, against earlier years.
Historical volatility
NAZARA's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | -13.0% |
| FY2022 | -211.0% |
| FY2023 | -196.0% |
| FY2024 | -569.0% |
| FY2025 | -84.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹34 Cr |
| Costs | |
| Interest | ₹1 Cr |
| Expenses | ₹63 Cr |
| Operating profitOperating Profit | -₹29 Cr |
| Other income and charges | |
| Profit before tax | ₹32 Cr |
| Tax | |
| Net profitNet Profit | ₹28 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹2,738 Cr |
| Equity capitalEquity Capital | ₹35 Cr |
| Reserves | ₹2,646 Cr |
| Borrowings | ₹20 Cr |
| Other liabilitiesOther Liabilities | ₹37 Cr |
| AssetsTotal Assets | ₹2,738 Cr |
| Fixed assetsFixed Assets | ₹84 Cr |
| Capital work in progressCWIP | ₹5 Cr |
| Investments | ₹2,234 Cr |
| Other assetsOther Assets | ₹415 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | -₹44 Cr |
| Investing cash flowCash from Investing Activity | -₹1,145 Cr |
| Financing cash flowCash from Financing Activity | ₹850 Cr |
| Change in cashNet Cash Flow | -₹339 Cr |
Learn while you research
Academy chapters picked for Nazara Technologies Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 370.0, learn when high multiples are justified.6 min read
- 04 Growth Investing48% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read