Nazara Technologies Ltd

NSE: NAZARA · Entertainment · sector

₹400.25NSE close 2026-10-26

Key numbers

Market cap₹14,829 cr

Price₹400.25

52w high / low₹420 / ₹216

P/E–Sector median 56.5x

P/B4.3xSector median 4.3x

Book value₹93.8

Dividend yield–

ROE-1.7%Sector median 10.0%

ROCE7.6%Sector median 8.1%

OPM-39.2%Sector median 12.2%

Debt / equity0.03xSector median 0.03x

EV/EBITDA–Sector median 37.1x

Interest cover13.0x

Current ratio2.05x

Sales growth 3y+18.8%Sector median +18.8%

Profit growth 3y+27.1%Sector median +25.1%

PEG–

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 3 companies in Entertainment (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹734 cr vs borrowings ₹112 cr (FY26): cash is higher (net cash).
Operating profit covered interest 13.0x in the last 12 months.
87.74% of the promoters' shares are pledged (29.8% of all shares).
Promoter holding fell by 3.46 percentage points in a year, to 32.00% (2026-10-12).
Operating cash flow was below net profit in 2 of the last 5 years (FY25, FY23).
Net loss in 2 of the last 8 quarters.
Revenue was higher than a year earlier in 1 of the last 4 quarters.
Debtor days went from 88 (FY24) to 75 (FY26).
No dividend in the last 5 financial years.
Price ₹400.25 on 2026-10-26: -4.7% from the 52-week high, +85.6% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹418.15 · low ₹217.65

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	319	535	520	499	526	406	398	429
EBITDA	25	37	35	47	-855	67	74	25
OPM %	7.9%	6.9%	6.6%	9.5%	-162.4%	16.4%	18.6%	5.8%
Other income	25	22	19	77	1,104	11	51	9
Net profit	22	31	16	53	-29	10	47	-80
EPS (₹)	0.72	0.96	-0.06	1.93	-0.85	0.27	1.27	-2.16
Revenue YoY					+65.1%	-24.1%	-23.5%	-14.0%
Profit YoY					-233.6%	-67.9%	+196.1%	-249.5%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY22	FY23	FY24	FY25	FY26	TTM
Revenue	622	1,091	1,138	1,624	1,829	1,759
EBITDA	86	101	98	122	-667	-690
Net profit	28	39	71	87	81	-52
EPS (₹)	2.27	1.50	2.04	2.37	2.62	-1.47
Revenue growth		+75.5%	+4.3%	+42.7%	+12.6%	-6.1%
Profit growth		+38.7%	+80.9%	+21.9%	-6.9%	-143.0%
Dividend / share (₹)	–	–	–	–	–

Compounded growth	3 years	5 years	Last 12 months
Sales	+18.8%	+32.1%	-6.1%
Net profit	+27.1%	+54.3%	-143.0%
EPS	+20.6%	+26.8%	–
Share price	–	+33.2% (2y)	+45.9%

Balance sheet

₹ cr	FY22	FY23	FY24	FY25	FY26
Shareholders' equity	–	1,105	1,999	2,863	3,473
Borrowings	–	30	9	141	112
Cash & equivalents	–	596	1,434	653	734
Total assets	–	1,702	2,762	4,435	4,371
Fixed assets	–	15	23	123	53
Capital work in progress	–	0	0	0	1
Investments	–	65	215	168	278
Receivables	–	154	275	576	376
Inventory	–	25	2	3	3
Payables	–	77	240	547	376

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	62	8	91	66	149
Cash from investing	-350	-95	-603	-1,134	-542
Cash from financing	335	15	934	805	361
Capex	12	8	27	148	113
Free cash flow	50	-0	64	-82	36

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY24	FY25	FY26
ROE %	–	3.6%	3.6%	3.0%	2.3%
ROCE %	–	8.2%	5.5%	3.2%	9.7%
Debtor days	–	51	88	129	75
Inventory days	–	166	10	23	45
Payable days	–	517	1,091	4,985	4,934
Cash conversion cycle (days)	–	-300	-993	-4,833	-4,814
Working capital days	–	222	486	108	126

Shareholding

Holder	% (2026-10-12)
Promoters	32.00%
FIIs	15.42%
DIIs	2.75%
of which Mutual funds	1.84%
of which Insurance	0.00%
Government	0.00%
Public (non-institutions)	49.84%

Quarter	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Jul 2026	Aug 2026	Sep 2026	Oct 2026
Promoters %	35.46%	35.46%	35.46%	34.25%	34.06%	33.98%	33.98%	32.00%

Promoter group	%
Plutus Wealth Management LLP	9.90%
Axana Estates LLP	8.51%
Arpit Khandelwal	6.75%
Nitish Mittersain	1.98%
Junomoneta Finsol Private Limited	1.54%
Plutus Investments and Holding Private Limited	0.94%
Mitter Infotech LLP	0.81%
Mithun Padam Sacheti	0.77%
Siddhartha Padamchand Sacheti	0.77%
Neerja Vikash Mittersain	0.01%
Vikash Mittersain	0.00%
Kanta Pratapchand Jain	0.00%
Rajesh Pratapchand Jain	0.00%
Vishal V Chiripal	0.00%
Vedprakash Chiripal	0.00%

Public holders above 1%	%
Raymond Albaladejo Stauffer	4.67%
Riambel Capital PCC - RCC1	3.88%
Anantnath Skycon Private Limited	3.54%
Nksquared .	1.71%
Think India Opportunities Master Fund LP	1.58%
Kamath Associates	1.47%
Cohesion MK Best Ideas Sub-trust	1.42%
RAM Babu Gupta	1.41%
Thakkar Nileshkumar Farshuram (HUF)	1.34%
Zerodha Broking	1.29%
Bandhan Nifty Total Market Index Fund	1.20%
Timf Holdings	1.17%
Parijata Trading Private Limited	1.16%

96,939 shareholders. Pledged: 87.74% of promoter shares.

Peers in Entertainment

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
NAZARA	₹14,829 cr	–	4.3x	-1.7%	7.6%	-39.2%	+18.8%	–
7SEASL	₹241 cr	100.1x	8.2x	10.0%	8.1%	17.4%	-96.7%	–
BTML	₹105 cr	12.8x	1.3x	11.4%	13.8%	12.2%	+39.4%	–

All 3 companies in Entertainment →

Business segments (FY26)

Segment	Revenue	Share	EBIT	Margin
(a) Gaming	₹1,072 cr	58.5%	₹80 cr	7.5%
(c) Ad tech	₹454 cr	24.8%	₹-4 cr	-0.8%
(b) eSports	₹307 cr	16.8%	₹-25 cr	-8.0%

Dividends & corporate actions

Ex-date	Action	Detail
2025-09-26	Split	Face Value Split (Sub-Division) - From Rs 4/- Per Share To Rs 2/- Per Share
2025-09-26	Bonus	Bonus 1:1
2022-06-24	Bonus	Bonus 1:1

Documents

Links go to the original files on the exchange website.

About the company

Telco subscription: Players subscribing to curated game packs and payments collected through the telecom operator channel.
Freemium: Advertisements and virtual items purchased within the games.


Sector	Consumer Discretionary
Industry	Entertainment
Sub-industry	Digital Entertainment
Symbol	NAZARA
BSE code	543280
ISIN	INE418L01047
Face value	₹2.0
Incorporated	1999-12-08
Website	www.nazara.com
Plants (India / abroad)	0 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.