Nazara Technologies

₹1044 -9 | 0.9%

WEBSITE BSE:543280 NSE : NAZARA 09 Dec, 13:40

Market Cap ₹8926 Cr.

Stock P/E 99.8

P/B 3.3

Current Price ₹1044

Book Value ₹ 321

Face Value 4

52W High ₹1124.2

Dividend Yield 0%

52W Low ₹ 590.9

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.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	223	264	315	289	254	297	320	266	250	319
Other Income	7	23	12	8	12	12	18	38	26	25
Total Income	230	287	326	298	266	310	338	304	276	344
Total Expenditure	193	250	285	262	221	271	284	263	225	294
Operating Profit	37	37	42	35	45	39	54	41	50	50
Interest	0	1	0	3	1	3	2	1	1	2
Depreciation	14	12	15	16	15	15	15	22	15	26
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	22	24	26	17	28	21	37	19	35	23
Provision for Tax	6	9	6	5	7	-1	8	-0	10	4
Profit After Tax	16	15	20	12	21	23	29	19	24	19
Adjustments	-5	-6	-4	-9	-1	-3	-3	-28	-2	3
Profit After Adjustments	11	9	16	3	20	20	26	-9	23	22
Adjusted Earnings Per Share	1.7	1.4	2.5	0.4	2.9	3	3.5	-1.1	3	2.9

Nazara Technologies Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	87	153	211	190	171	170	248	454	622	1091	1138	1155
Other Income	3	5	8	12	10	16	15	14	24	49	80	107
Total Income	90	158	219	202	180	186	263	469	646	1141	1218	1262
Total Expenditure	50	82	135	129	126	160	255	413	535	989	1038	1066
Operating Profit	40	76	84	73	54	26	8	55	111	152	180	195
Interest	0	0	0	0	1	1	1	1	1	6	8	6
Depreciation	1	1	1	1	4	16	26	36	39	57	67	78
Exceptional Income / Expenses	0	0	0	0	-36	0	0	0	0	0	0	0
Profit Before Tax	39	75	83	72	13	9	-20	17	70	89	103	114
Provision for Tax	10	16	18	11	12	5	7	3	19	25	14	22
Profit After Tax	29	59	65	61	1	4	-27	14	51	63	89	91
Adjustments	0	0	0	0	2	11	25	-4	-22	-24	-33	-30
Profit After Adjustments	29	59	65	61	3	15	-2	9	28	39	57	62
Adjusted Earnings Per Share	14.8	32	13	12.3	0.5	2.8	-0.4	1.5	4.4	6	7.4	8.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	4%	36%	46%	29%
Operating Profit CAGR	18%	48%	47%	16%
PAT CAGR	41%	85%	86%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	31%	-4%	NA%	NA%
ROE Average	6%	6%	3%	20%
ROCE Average	7%	8%	5%	26%

Nazara Technologies Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	67	109	158	223	356	408	501	658	1041	1105	1999
Minority's Interest	0	0	0	0	42	41	69	121	157	212	336
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1	-0	-1	-3	27	18	33	26	33	47	37
Total Current Liabilities	11	32	40	41	43	49	148	214	173	334	382
Total Liabilities	79	142	198	261	468	515	752	1018	1404	1698	2753
Fixed Assets	1	1	2	2	126	143	327	296	424	583	608
Other Non-Current Assets	6	5	7	11	47	58	45	41	65	118	247
Total Current Assets	72	136	189	249	295	315	380	681	915	997	1897
Total Assets	79	142	198	261	468	515	752	1018	1404	1698	2753

Nazara Technologies Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	3	9	36	69	65	89	53	72	140	208	142
Cash Flow from Operating Activities	22	52	59	57	-6	14	-2	68	62	8	91
Cash Flow from Investing Activities	-16	-8	-6	-54	-20	-68	9	-268	-334	-95	-603
Cash Flow from Financing Activities	0	-16	-20	0	46	12	3	217	335	15	946
Net Cash Inflow / Outflow	6	28	32	2	21	-42	10	17	63	-72	434
Closing Cash & Cash Equivalent	9	36	69	65	89	53	72	86	208	142	567

Nazara Technologies Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	14.79	32.03	12.98	12.27	0.51	2.76	-0.38	1.51	4.37	5.95	7.39
CEPS(Rs)	15.19	32.46	13.17	12.51	1.01	3.64	-0.08	8.05	13.8	18.21	20.44
DPS(Rs)	0	0	40	0	60.4	0	0	0	0	0	0
Book NAV/Share(Rs)	33.75	58.59	31.87	44.2	62.42	69.58	84.91	105.97	158.34	166.96	260.87
Core EBITDA Margin(%)	42.35	46.41	36.01	32.16	26.13	5.59	-3.02	9.05	13.91	9.39	8.84
EBIT Margin(%)	44.61	49.02	39.27	37.91	8.43	5.98	-7.41	3.85	11.44	8.69	9.78
Pre Tax Margin(%)	44.41	48.86	39.07	37.76	7.87	5.46	-7.91	3.65	11.24	8.14	9.09
PAT Margin (%)	33.13	38.63	30.56	32.1	0.71	2.58	-10.82	2.99	8.16	5.81	7.86
Cash Profit Margin (%)	34.05	39.15	31	32.71	3.18	11.79	-0.18	10.81	14.43	11.05	13.74
ROA(%)	45.59	53.66	38	26.58	0.33	0.89	-4.23	1.54	4.19	4.09	4.02
ROE(%)	56.19	67.86	48.41	32.27	0.44	1.22	-6.24	2.42	6.05	5.94	5.77
ROCE(%)	73.85	84.89	61.93	37.74	4.96	2.66	-4.04	3.02	8.37	8.71	7.08
Receivable days	52.24	39.68	47.18	56.99	73.89	95.75	84.14	54.93	45	45.29	73.91
Inventory Days	0	0	0	0	0	0	0	0	0.76	4.32	4.27
Payable days	0	0	0	0	0	0	0	0	0	835.31	996.36
PER(x)	0	0	0	0	0	0	0	485.66	187.43	86.77	90.71
Price/Book(x)	0	0	0	0	0	0	0	6.91	5.17	3.09	2.57
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	-0.3	-0.34	-0.35	-0.59	-0.63	-0.72	-0.71	9.02	8.04	2.86	3.45
EV/Core EBITDA(x)	-0.66	-0.68	-0.89	-1.53	-1.96	-4.74	-21.99	73.93	45.21	20.53	21.8
Net Sales Growth(%)	61.14	75.11	38.04	-9.95	-10.31	-0.42	45.74	83.51	36.88	75.49	4.33
EBIT Growth(%)	111.81	92.42	10.6	-13.08	-80.05	-29.37	-280.55	195.41	306.29	33.28	17.47
PAT Growth(%)	119.36	104.17	9.18	-5.4	-98.02	261.6	-711.46	150.79	272.79	25.01	41.15
EPS Growth(%)	119.36	116.62	-59.49	-5.4	-95.81	435.99	-113.8	496.69	189.7	36.23	24.15
Debt/Equity(x)	0	0	0	0	0	0	0	0	0	0.03	0
Current Ratio(x)	6.58	4.2	4.69	6.14	6.83	6.44	2.56	3.19	5.29	2.98	4.96
Quick Ratio(x)	6.58	4.2	4.69	6.14	6.83	6.44	2.56	3.19	5.28	2.91	4.96
Interest Cover(x)	227.88	320.44	195.6	250.29	15.06	11.54	-14.83	19.44	59.25	15.9	14.14
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0.01	0

Nazara Technologies Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	19.2	19.17	19.14	19.05	19.05	19.01	17.16	16.43	10.05	10.05
FII	10.15	10.34	10.15	8.58	8.58	10.96	10.46	9.44	6.05	9.71
DII	5.5	5.44	6.31	8.19	10.68	9.11	15.9	16.8	16.76	12.2
Public	65.15	65.05	64.41	64.18	61.69	60.92	56.48	57.32	67.13	68.04
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	1.26	1.26	1.26	1.26	1.26	1.26	1.26	1.26	0.77	0.77
FII	0.67	0.68	0.67	0.57	0.57	0.73	0.77	0.72	0.46	0.74
DII	0.36	0.36	0.42	0.54	0.71	0.6	1.17	1.29	1.28	0.93
Public	4.28	4.28	4.24	4.25	4.08	4.03	4.14	4.39	5.14	5.21
Others	0	0	0	0	0	0	0	0	0	0
Total	6.57	6.58	6.59	6.62	6.62	6.62	7.33	7.65	7.65	7.65

Pros

Company has delivered good profit growth of 85% CAGR over last 5 years
Company is almost debt free.

Cons

Though the company is reporting repeated profits, it is not paying out dividend.
Promoter holding is low: 10.05%.
Company has a low return on equity of 6% over the last 3 years.
Debtor days have increased from 835.31 to 996.36days.
Stock is trading at 3.3 times its book value.

* 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.