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Diversified gaming company operating mobile games, esports (Nodwin Gaming) and sports media (Sportskeeda) in India.
Diversified gaming company operating mobile games, esports (Nodwin Gaming) and sports media (Sportskeeda) in India.
Earns from in-app purchases and subscriptions in mobile games such as Kiddopia, a children's learning app, from advertising and sponsorship in esports and sports media, and from acquired businesses including overseas studios. The group has been built largely by buying companies, so reported results depend on which acquisitions are consolidated.
In one line: India's small-cap gaming/esports rollup.
Moat: narrow (brand, network effects). Portfolio of gaming/esports brands with loyal user bases, though gaming hits are unpredictable.
Headquarters: Mumbai, India · Founded: 1999 · Employees: 76
Size Nazara Technologies (NAZARA.NS) is an India Information Technology company (Packaged Software) with a market value of $1.62B, the 437th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹412.10 on 6 Nov 2026.
Performance Over six months the shares gained 50.2%, against -4.7% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue fell 2.1% over the last twelve months (peer median +11.3%); the operating margin is 2.6% (peer median 10.2%).
Valuation It trades at 138.0× forward earnings against a peer median of 25.3× (most expensive of 18).
Capital Return on invested capital runs 11.4 points below its cost of capital (12.5% WACC).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹20.4B | ₹18.3B | ₹16.2B | ₹11.4B | ₹10.9B |
| Revenue growth | — | +13% | +43% | +4% | — |
| Gross profit | ₹12.1B | ₹8.27B | ₹6.70B | ₹4.15B | ₹4.34B |
| EBITDA | ₹2.79B | ₹2.59B | ₹1.56B | ₹1.34B | ₹1.13B |
| Net income | ₹132M | ₹958M | ₹758M | ₹566M | ₹394M |
| Free cash flow | n/a | ₹408M | -₹211M | ₹835M | ₹42.0M |
| Capital expenditure | n/a | ₹1.13B | ₹1.48B | ₹268M | ₹83.0M |
| Total debt | ₹2.20B | ₹2.15B | ₹2.19B | ₹277M | ₹382M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NAZARA.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.9% | +5.2% | 8th highest of 21 |
| 6-month return | +50.2% | -4.7% | 5th highest of 20 |
| Distance from 52-week high | -3.4% | -31.8% | highest of 21 |
| Revenue growth (TTM) | -2.1% | +11.3% | 5th lowest of 21 |
| Operating margin | 2.6% | 10.2% | 6th lowest of 21 |
| Forward P/E | 138.0× | 25.3× | most expensive of 18 |
| ROIC minus cost of capital | -11.4 pp | +2.1 pp | 4th lowest of 14 |
| EV / EBITDA | 54.0× | 9.1× | 2nd most expensive of 11 |
| Net debt / EBITDA | -1.1× | -0.8× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nazara Technologies NAZARA.NS | India | $1.62B | +50% | -2% | 3% | 138.0× | n/a | n/a |
| Newborn Town 9911.HK | Hong Kong | $1.63B | -5% | +36% | 12% | 8.8× | -3.5% | +41.3% |
| Donnelley Financial Solutions DFIN | United States | $1.63B | +56% | +5% | 20% | 12.3× | -4.7% | -3.0% |
| YOOZOO Interactive 002174.SZ | China | $1.61B | +9% | -1% | -20% | 24.7× | n/a | n/a |
| Weaver Network Technology 603039.SS | China | $1.59B | -8% | +2% | 12% | 29.1× | 15.8% | +9.0% |
| Wealthfront WLTH | United States | $1.66B | -7% | +18% | -41% | 26.7× | -4.2% | n/a |
| KPIT Technologies KPITTECH.NS | India | $1.57B | -25% | +9% | 14% | 26.3× | 14.8% | +26.0% |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| MIXI 2121.T | Japan | $1.56B | +51% | +30% | 14% | 10.7× | -18.1% | +7.5% |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| Sprinklr CXM | United States | $1.55B | +25% | +6% | 6% | 13.0× | 4.8% | +17.2% |
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| Paradox Interactive PDX.ST | Sweden | $1.54B | +6% | +13% | 6% | 25.3× | 20.8% | +4.1% |
| CloudWalk Technology 688327.SS | China | $1.54B | -28% | -47% | -165% | n/a | n/a | n/a |
| Digiwin 300378.SZ | China | $1.54B | -2% | +10% | 9% | 32.5× | n/a | n/a |
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| Yusys Technologies 300674.SZ | China | $1.53B | -23% | -11% | 8% | 20.8× | 15.6% | +4.0% |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |