Nazara Technologies Ltd. (NAZARA) AI Stock Analysis

• Market Cap: ₹131.20B
• Dividend Yield: N/A
• Average Volume (3M): 39.82K
• Price to Earnings (P/E): 93.6
• Beta (1Y): 0.69
• Revenue Growth: 65.14%
• EPS Growth: 80.65%
• Country: IN
• Employees: 74
• Sector: Technology
• Sector Strength: 91
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 5.80
• Shares Outstanding: 92,616,260
• 10 Day Avg. Volume: 44,617
• 30 Day Avg. Volume: 39,818
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹1,507.00
• Price Target Upside: 6.38% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 75 Outperform
• Price Target: ₹1,507.00 ▲(6.38% Upside)

Nazara Technologies Ltd. benefits from strong financial performance and technical analysis, with robust revenue growth and positive market momentum. However, the high valuation poses a significant risk, suggesting the stock may be overvalued. The absence of earnings call data and corporate events means these factors do not impact the score.

Nazara Technologies Ltd. Business Overview & Revenue Model

Company Description

Nazara Technologies Ltd. (NAZARA) is a leading India-based gaming and sports media platform. The company operates across various sectors including interactive gaming, esports, and gamified early learning. Nazara offers a diverse portfolio of products ranging from mobile games to esports solutions, catering to a global audience with a focus on emerging markets.

How the Company Makes Money

Nazara Technologies generates revenue through a multi-faceted business model encompassing in-app purchases, subscription services, advertisement revenue, and esports sponsorships. The company capitalizes on its extensive user base in the mobile gaming sector by offering premium content and virtual goods that users can purchase within their games. Additionally, Nazara's esports division earns money through sponsorship deals, broadcasting rights, and event management fees. The company also has strategic partnerships with telecom operators and other technology companies to expand its reach and enhance its monetization capabilities.

Nazara Technologies Ltd. Financial Statement Overview

Summary

Nazara Technologies Ltd. demonstrates strong revenue growth and efficient cost management, contributing to a stable financial position. However, variability in profitability and cash flow indicates potential operational challenges that require careful attention to sustain long-term growth.

Income Statement

Nazara Technologies Ltd. has shown robust revenue growth with a significant increase from 2021 to 2025. The gross profit margin remains strong, indicating efficient cost management. However, the net profit margin shows room for improvement due to fluctuating EBIT and EBITDA margins, which suggest potential volatility in operational efficiency.

Balance Sheet

The company maintains a healthy debt-to-equity ratio, indicating a low reliance on debt financing. Strong stockholders' equity growth supports a solid equity ratio, reflecting financial stability. Return on equity has improved over time, suggesting effective use of equity to generate profits.

Cash Flow

Operating cash flow has improved, yet free cash flow remains inconsistent due to significant capital expenditures. The operating cash flow to net income ratio suggests good cash generation, but the free cash flow to net income ratio highlights areas for optimizing cash use.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.70B	16.24B	11.38B	6.22B	10.91B	4.54B
Gross Profit	8.10B	6.70B	6.67B	4.82B	6.40B	4.02B
EBITDA	2.00B	2.13B	1.80B	1.11B	1.52B	554.70M
Net Income	667.60M	753.50M	565.70M	284.00M	393.90M	92.00M
Balance Sheet
Total Assets	0.00	44.35B	27.62B	14.10B	17.02B	10.23B
Cash, Cash Equivalents and Short-Term Investments	8.63B	6.53B	14.26B	7.16B	7.49B	4.84B
Total Debt	0.00	2.19B	277.00M	43.00M	382.00M	13.05M
Total Liabilities	-22.85B	11.98B	4.27B	2.12B	3.85B	2.44B
Stockholders Equity	22.85B	28.63B	19.99B	10.41B	11.05B	6.58B
Cash Flow
Free Cash Flow	0.00	-211.20M	639.40M	498.00M	-2.00M	642.23M
Operating Cash Flow	0.00	1.27B	907.90M	621.00M	81.00M	674.06M
Investing Cash Flow	0.00	-12.01B	-6.03B	-3.50B	-952.00M	-2.68B
Financing Cash Flow	0.00	8.11B	9.46B	3.35B	145.00M	2.17B

Nazara Technologies Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1416.60
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 1416.6 is above the 20-day moving average (MA) of 1389.28, above the 50-day MA of 1348.89, and above the 200-day MA of 1090.81, indicating a bullish trend. The MACD of 16.61 indicates Negative momentum. The RSI at 61.79 is Neutral, neither overbought nor oversold. The STOCH value of 78.39 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NAZARA	75 Outperform	₹131.20B	93.55		―	65.14%	80.65%
INTELLECT	68 Neutral	₹129.34B	36.58		0.75%	4.93%	15.12%
SAKSOFT	68 Neutral	₹27.07B	22.49		0.38%	19.50%	18.47%
SASKEN	67 Neutral	₹22.70B	54.49		2.53%	62.55%	-41.78%
Sector *	57 Neutral	HK$14.83B	9.08	-0.60%	4.27%	7.14%	-38.21%

Nazara Technologies Ltd. Corporate Events

Nazara Technologies Extends Timeline for Moonshine Technology Acquisition

Nazara Technologies Ltd. has announced an update regarding its acquisition of equity shares in Moonshine Technology Private Limited. The timeline for acquiring the remaining 0.96% equity shares from I3 Interactive Inc. has been extended to August 31, 2025. This extension indicates Nazara’s continued strategic investment efforts to strengthen its position in the gaming industry, potentially impacting its market presence and stakeholder interests.

Nazara Technologies Expands Stake in Getstan Technologies

Nazara Technologies Ltd. announced that its wholly owned subsidiary, Nazara Technologies FZ LLC, has increased its stake in Getstan Technologies Pte. Ltd. by acquiring 37,461 Compulsorily Convertible Preference Shares for USD 1 million. This acquisition raises Nazara Dubai’s total shareholding in Getstan to 14.57%, potentially strengthening its strategic position in the gaming industry and expanding its influence in the digital sports market.