Nazara Technologies

₹620.5 4.9 | 0.8%

WEBSITE BSE:543280 NSE : NAZARA 10 May, 16:01

Market Cap ₹4749 Cr.

Stock P/E 63.0

P/B 2.4

Current Price ₹620.5

Book Value ₹ 260.8

Face Value 4

52W High ₹989.6

Dividend Yield 0%

52W Low ₹ 560

Edit Ratio

Nazara Technologies Research see more...

NAZARA TECHNOLOGIES - RIDING ON THE GAMIFICATION

Nazara Technologies Ltd

Nazara Technologies Limited: Growth should be supplemented by increased adoption and industry dynamics

Overview Inc. Year: 1999Industry: IT - Software

Nazara Technologies Ltd operates a gaming and sports activities media platform in India and across the world. The organisation operates thru Gamified Early Learning, esports, Freemium, Telco Subscription, and Skill Based Real Money Gaming segments. It offers e-Sports, gamified early learning eco-systems and interactive gaming. The enterprise additionally engages in the provision of subscription/download of games/different contents. In addition, it owns diverse IPs, together with World Cricket Championship and CarromClash in cell video games; Kiddopia in gamified early getting to know; Nodwin and Sportskeeda in eSports and eSports media; and Halaplay and Qunami in skill-based, delusion, and trivia games. Nazara Technologies Ltd was incorporated in 1999 and is based in Mumbai, India.

Nazara Technologies Share Price

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Peer Comparison

Nazara Technologies Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	130	186	175	223	264	315	289	254	297	320
Other Income	6	4	10	7	23	12	8	12	12	18
Total Income	135	190	185	230	287	326	298	266	310	338
Total Expenditure	111	157	162	193	250	285	262	221	271	284
Operating Profit	24	33	23	37	37	42	35	45	39	54
Interest	0	0	0	0	1	0	3	1	3	2
Depreciation	9	11	11	14	12	15	16	15	15	15
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	16	22	11	22	24	26	17	28	21	37
Provision for Tax	0	5	6	6	9	6	5	7	-1	8
Profit After Tax	15	17	5	16	15	20	12	21	23	29
Adjustments	-5	-7	-3	-5	-6	-4	-9	-1	-3	-3
Profit After Adjustments	10	10	2	11	9	16	3	20	20	26
Adjusted Earnings Per Share	1.7	1.6	0.3	1.7	1.4	2.5	0.4	2.9	3	3.5

Nazara Technologies Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	54	87	153	211	190	171	170	248	454	622	1091	1160
Other Income	2	3	5	8	12	10	16	15	14	24	50	50
Total Income	56	90	158	219	202	180	186	263	469	646	1141	1212
Total Expenditure	37	50	82	135	129	126	160	255	413	535	989	1038
Operating Profit	19	40	76	84	73	54	26	8	55	111	152	173
Interest	0	0	0	0	0	1	1	1	1	1	6	9
Depreciation	1	1	1	1	1	4	16	26	36	39	57	61
Exceptional Income / Expenses	0	0	0	0	0	-36	0	0	0	0	0	0
Profit Before Tax	18	39	75	83	72	13	9	-20	17	70	89	103
Provision for Tax	5	10	16	18	11	12	5	7	3	19	25	19
Profit After Tax	13	29	59	65	61	1	4	-27	14	51	63	85
Adjustments	0	0	0	0	0	2	11	25	-4	-22	-24	-16
Profit After Adjustments	13	29	59	65	61	3	15	-2	9	28	39	69
Adjusted Earnings Per Share	6.7	14.8	32	13	12.3	0.5	2.8	-0.4	1.5	4.4	5.9	9.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	75%	64%	45%	35%
Operating Profit CAGR	37%	167%	23%	23%
PAT CAGR	24%	0%	129%	17%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	10%	-10%	NA%	NA%
ROE Average	6%	5%	2%	23%
ROCE Average	9%	7%	4%	30%

Nazara Technologies Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	38	67	109	158	223	356	408	501	658	1041	1105
Minority's Interest	0	0	0	0	0	42	41	69	121	157	212
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	1	-0	-1	-3	27	18	33	26	33	47
Total Current Liabilities	10	11	32	40	41	43	49	148	214	173	334
Total Liabilities	48	79	142	198	261	468	515	752	1018	1404	1698
Fixed Assets	1	1	1	2	2	126	143	327	296	424	583
Other Non-Current Assets	12	6	5	7	11	47	58	45	41	65	118
Total Current Assets	34	72	136	189	249	295	315	380	681	915	997
Total Assets	48	79	142	198	261	468	515	752	1018	1404	1698

Nazara Technologies Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	3	9	36	69	65	89	53	72	140	208
Cash Flow from Operating Activities	14	22	52	59	57	-6	14	-2	68	62	8
Cash Flow from Investing Activities	-5	-16	-8	-6	-54	-20	-68	9	-268	-334	-95
Cash Flow from Financing Activities	-8	0	-16	-20	0	46	12	3	217	335	15
Net Cash Inflow / Outflow	1	6	28	32	2	21	-42	10	17	63	-72
Closing Cash & Cash Equivalent	3	9	36	69	65	89	53	72	86	208	142

Nazara Technologies Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	6.74	14.79	32.03	12.98	12.27	0.51	2.76	-0.38	1.51	4.37	5.95
CEPS(Rs)	7.2	15.19	32.46	13.17	12.51	1.01	3.64	-0.08	8.05	13.8	18.19
DPS(Rs)	0	0	0	40	0	60.4	0	0	0	0	0
Book NAV/Share(Rs)	18.88	33.75	58.59	31.87	44.2	62.42	69.58	84.91	105.97	158.34	166.78
Core EBITDA Margin(%)	32.09	42.35	46.41	36.01	32.16	26.13	5.59	-3.02	9.05	13.91	9.38
EBIT Margin(%)	33.93	44.61	49.02	39.27	37.91	8.43	5.98	-7.41	3.85	11.44	8.68
Pre Tax Margin(%)	33.85	44.41	48.86	39.07	37.76	7.87	5.46	-7.91	3.65	11.24	8.14
PAT Margin (%)	24.34	33.13	38.63	30.56	32.1	0.71	2.58	-10.82	2.99	8.16	5.81
Cash Profit Margin (%)	26.01	34.05	39.15	31	32.71	3.18	11.79	-0.18	10.81	14.43	11.04
ROA(%)	27.33	45.59	53.66	38	26.58	0.33	0.89	-4.23	1.54	4.19	4.09
ROE(%)	35.7	56.19	67.86	48.41	32.27	0.44	1.22	-6.24	2.42	6.05	5.94
ROCE(%)	48.14	73.85	84.89	61.93	37.74	4.96	2.66	-4.04	3.02	8.37	8.7
Receivable days	86.9	52.24	39.68	47.18	56.99	73.89	95.75	84.14	54.93	45	39.86
Inventory Days	0	0	0	0	0	0	0	0	0	0.76	4.33
Payable days	0	0	0	0	0	0	0	0	0	0	426.28
PER(x)	0	0	0	0	0	0	0	0	485.66	187.43	86.85
Price/Book(x)	0	0	0	0	0	0	0	0	6.91	5.17	3.1
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	-0.13	-0.3	-0.34	-0.35	-0.59	-0.63	-0.72	-0.71	9.02	8.04	2.86
EV/Core EBITDA(x)	-0.38	-0.66	-0.68	-0.89	-1.53	-1.96	-4.74	-21.99	73.93	45.21	20.57
Net Sales Growth(%)	0	61.14	75.11	38.04	-9.95	-10.31	-0.42	45.74	83.51	36.88	75.49
EBIT Growth(%)	0	111.81	92.42	10.6	-13.08	-80.05	-29.37	-280.55	195.41	306.29	33.19
PAT Growth(%)	0	119.36	104.17	9.18	-5.4	-98.02	261.6	-711.46	150.79	272.79	25.05
EPS Growth(%)	0	119.36	116.62	-59.49	-5.4	-95.81	435.99	-113.8	496.69	189.7	36.11
Debt/Equity(x)	0	0	0	0	0	0	0	0	0	0	0.03
Current Ratio(x)	3.47	6.58	4.2	4.69	6.14	6.83	6.44	2.56	3.19	5.29	2.98
Quick Ratio(x)	3.47	6.58	4.2	4.69	6.14	6.83	6.44	2.56	3.19	5.28	2.91
Interest Cover(x)	391.43	227.88	320.44	195.6	250.29	15.06	11.54	-14.83	19.44	59.25	16.05
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0.01

Nazara Technologies Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	19.32	19.32	19.2	19.17	19.14	19.05	19.05	19.01	17.16	16.43
FII	11.1	10.35	10.15	10.34	10.15	8.58	8.58	10.96	10.46	9.44
DII	5.09	3.89	5.5	5.44	6.31	8.19	10.68	9.11	15.9	16.8
Public	64.49	66.44	65.15	65.05	64.41	64.18	61.69	60.92	56.48	57.32
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.63	0.63	1.26	1.26	1.26	1.26	1.26	1.26	1.26	1.26
FII	0.36	0.34	0.67	0.68	0.67	0.57	0.57	0.73	0.77	0.72
DII	0.17	0.13	0.36	0.36	0.42	0.54	0.71	0.6	1.17	1.29
Public	2.1	2.17	4.28	4.28	4.24	4.25	4.08	4.03	4.14	4.39
Others	0	0	0	0	0	0	0	0	0	0
Total	3.26	3.26	6.57	6.58	6.59	6.62	6.62	6.62	7.33	7.65

Pros

Company has delivered good profit growth of 129% CAGR over last 5 years
Company is almost debt free.

Cons

Promoter holding is low: 16.43%.
Company has a low return on equity of 5% over the last 3 years.
Debtor days have increased from 0 to 426.28days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.