Nazara Technologies Ltd. AI Stock Analysis
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Nazara Technologies Ltd. (NAZARA) AI Stock Analysis
Nazara Technologies Ltd.
(NSE:NAZARA)
The score is driven primarily by solid financial stability (low leverage and a stronger capital base) but held back by thin operating margins, a recent revenue dip, and uneven free cash flow. Technically, the stock shows a healthy uptrend with neutral-to-positive momentum. Valuation is a significant drag due to the negative P/E and lack of dividend yield data. Earnings call tone was positive on growth and profitability momentum, but the absence of specific guidance and noted business headwinds temper the outlook.
Nazara Technologies Ltd. (NAZARA) vs. iShares MSCI India ETF (INDA)
- Market Cap
- INR 161.63B
- Dividend Yield
- ―
- Average Volume (3M)
- 113.68K
- Price to Earnings (P/E)
- 1255.5
- Beta (1Y)
- 0.55
- Revenue Growth
- -2.14%
- EPS Growth
- -85.76%
- Country
- India
- Employees
- 76
- Sector
- General
- Sector Strength
- 55
- Industry
- Electronic Gaming & Multimedia
Nazara Technologies Ltd. Business Overview & Revenue Model
Company Description
Nazara Technologies Limited, an Indian company established in 1999 and headquartered in Mumbai, functions as a leading platform in the gaming and sports media sectors, with operations spanning both its home country and international markets. The firm...
How the Company Makes Money
Nazara generates revenue primarily by owning and operating gaming and esports businesses and monetizing user engagement and brand/partner demand across those properties. Key revenue streams typically include: (1) In-game monetization and digital sale...
Nazara Technologies Ltd. Earnings Call Summary
The call was predominantly positive, supported by record quarterly revenue and EBITDA, strong gaming and mobile growth, improved profitability across several businesses, successful product launches and the development of AI-enabled group capabilities. The main challenges were the Fusebox revenue decline, Kiddopia's lower EBITDA, the expected AdTech revenue dip, delayed or shelved product launches, Nodwin-related losses and the absence of specific forward financial guidance.
Q2-2027 Updates
Positive Updates
Negative Updates
Company Guidance
Management did not provide exact guidance for revenue growth rates or a three to four-year framework, but expects “year-on-year growth throughout the next years” for Bluetile and BestPlay and “qualitative growth” both organically and inorganically, consistently throughout the next five years; in a year’s time, the aim is an “AI-operated company group and set of studios,” with a future ad monetization COE, while “throughout the next year” Bluetile and BestPlay have “a few releases planned.” Funky Monkeys has five more stores to open in FY 2027, Smaaash 2.0 is expected to launch “in the next few months,” Fusebox has around seven seasons planned for 2026 and will step up UA and content investment as and when needed, and Go Slinky Go! will be scaled once KPIs clear “green light gates.” The company plans to raise approximately $100 million as debt for the Bluetile and BestPlay acquisition, with the balance funded through internal accruals, and said non-core assets will be monetized opportunistically with no hard timeline; in the short to mid-term, it expects “a little bit more of a heavier investment” in the U.S. and Europe while “maintaining a stronghold in India.”
Nazara Technologies Ltd. Financial Statement Overview
Summary
Balance sheet strength is a key positive (very low leverage with debt-to-equity ~0.06 and a growing equity base), but operating performance is mixed: FY2026 revenue declined ~2.3% and EBIT margin is very thin (~1%). Cash flow improved with positive FCF in FY2026 (~0.41B) after a negative FY2025, yet free cash flow has been volatile and cash conversion remains inconsistent.
Income Statement
61PositiveBalance Sheet
79PositiveCash Flow
57Neutral| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.36B | 18.29B | 16.24B | 11.38B | 10.91B | 6.22B |
| Gross Profit | 14.97B | 8.27B | 10.75B | 6.67B | 6.40B | 4.82B |
| EBITDA | 2.26B | 2.49B | 2.13B | 1.80B | 1.52B | 1.11B |
| Net Income | 131.60M | 958.40M | 753.50M | 565.70M | 393.90M | 284.00M |
Balance Sheet | ||||||
| Total Assets | 72.95B | 43.71B | 44.35B | 27.62B | 17.02B | 14.10B |
| Cash, Cash Equivalents and Short-Term Investments | 5.12B | 7.15B | 6.53B | 14.26B | 5.96B | 7.32B |
| Total Debt | 2.20B | 2.15B | 2.19B | 277.00M | 382.00M | 43.00M |
| Total Liabilities | 33.90B | 8.19B | 11.98B | 4.27B | 3.85B | 2.12B |
| Stockholders Equity | 38.32B | 34.73B | 28.63B | 19.99B | 11.05B | 10.41B |
Cash Flow | ||||||
| Free Cash Flow | 0 | 407.60M | -211.20M | 639.40M | -2.00M | 498.00M |
| Operating Cash Flow | 0 | 1.53B | 1.27B | 907.90M | 81.00M | 621.00M |
| Investing Cash Flow | 0 | -5.42B | -12.01B | -6.03B | -952.00M | -3.50B |
| Financing Cash Flow | 0 | 3.56B | 8.11B | 9.46B | 145.00M | 3.35B |
Nazara Technologies Ltd. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NAZARA, the sentiment is Positive. The current price of 413.90 is above the 20-day moving average (MA) of 405.77, above the 50-day MA of 387.28, and above the 200-day MA of 311.42, indicating a bullish trend. The MACD of 7.75 indicates Positive momentum. The RSI at 58.56 is Neutral, neither overbought nor oversold. The STOCH value of 53.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NAZARA.
Nazara Technologies Ltd. Peers Comparison
Overall Rating
IN:TANLA84Outperform
IN:ROUTE67Neutral
IN:CCAVENUE66Neutral- IN:NAZARA66Neutral
IN:ONMOBILE55Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| IN:TANLA | 84Outperform | INR 92.12B | 17.40 | ― | 1.65% | 17.68% | 17.46% |
| IN:ROUTE | 67Neutral | INR 28.65B | 6.05 | ― | 2.81% | 0.89% | 104.13% |
| IN:CCAVENUE | 66Neutral | INR 42.23B | 22.25 | ― | ― | 90.47% | 8.96% |
| IN:NAZARA | 66Neutral | INR 159.48B | 1255.45 | ― | ― | -2.14% | -85.76% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| IN:ONMOBILE | 55Neutral | INR 5.80B | -8.08 | ― | ― | -10.54% | -910.86% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| IN:NAZARA | Nazara Technologies Ltd. | 413.90 | 140.15 | 51.20% | |
| IN:CCAVENUE | Infibeam Avenues Ltd. | 121.20 | -69.50 | -36.44% | |
| IN:IXIGO | Le Travenues Technology Limited | 164.70 | -112.55 | -40.60% | |
| IN:ONMOBILE | OnMobile Global Limited | 54.77 | -8.02 | -12.77% | |
| IN:ROUTE | Route Mobile, Ltd. | 461.10 | -213.45 | -31.64% | |
| IN:TANLA | Tanla Platforms Ltd | 727.85 | 128.63 | 21.47% |
Nazara Technologies Ltd. Corporate Events
Nazara Technologies Shareholders Clear Path to Higher Authorised Capital at EGM
Nazara Technologies Limited convened an Extraordinary General Meeting on August 30, 2026 via video conferencing and other audio-visual means, in line with Ministry of Corporate Affairs and SEBI guidelines. All directors attended, quorum was confirmed...
Nazara Raises Stake in Funky Monkeys to 64% With ₹8 Crore Investment
Nazara Technologies has increased its stake in subsidiary Funky Monkeys Play Centre Private Limited following the allotment of 187,586 new equity shares with a face value of ₹10 each, subscribed for a primary investment of ₹8 crore. As a result of th...
Nazara Technologies Confirms Shareholder Approval of EGM Resolutions via Remote E-Voting
Nazara Technologies Limited convened an Extraordinary General Meeting on August 10, 2026 via video conferencing and other audio-visual means, in line with Ministry of Corporate Affairs and SEBI guidance on electronic shareholder participation. The me...
Nazara Publishes EGM E-Voting Notice, Sets August 30 Virtual Meet
Nazara Technologies has informed stock exchanges that it has published newspaper advertisements in Financial Express and Loksatta regarding the dispatch of the notice and e-voting information for its upcoming Extraordinary General Meeting. The EGM is...
Nazara Technologies Calls EGM to Boost Authorised Capital and Enable Preferential Share Issue
Nazara Technologies has called an Extraordinary General Meeting on August 30, 2026, to be held via video conferencing and other audio-visual means, with meeting materials distributed electronically and also posted on its website. The meeting will con...
Nazara Technologies Posts Q1 FY2027 Earnings Call Audio for Investors
Nazara Technologies has notified stock exchanges that the audio recording of its Q1 FY2027 earnings call with analysts and investors, held digitally on August 4, 2026, is now available on the company’s investor relations website. The disclosure align...
Nazara Technologies Reshapes Leadership and Bolsters Gaming Subsidiaries
Nazara Technologies Ltd. has approved its unaudited consolidated and standalone financial results for the quarter ended June 30, 2026, signaling continued regulatory compliance and transparency for investors. The board also advanced its international...
Nazara Technologies reshapes leadership, accelerates overseas gaming acquisition and boosts subsidiary funding
Nazara Technologies Ltd., a diversified digital gaming and interactive entertainment company, continues to build scale through domestic experiential venues and international gaming assets. Its portfolio strategy centers on mobile gaming, esports and...
Nazara Technologies Reshapes Deal Terms, Boosts Subsidiaries and Unveils New CEO
Nazara Technologies’ board has approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, and completed the allotment of 900,000 equity shares upon conversion of warrants issued via a preferential private pl...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 27, 2026