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Nazara Technologies Performance

Days Range

Low: ₹842.00
High: ₹870.00
Previous Close ₹851.90
Open ₹861.05
Volume 2,55,434
Day’s Range ₹842.00 - ₹870.00
52W Range ₹591.50 - ₹989.40
Market Cap ₹6,506.42 Cr

Nazara Technologies Fundamentals

ROCE (TTM) 5.44
P/E Ratio (TTM) 115.03
P/B Ratio 3.26
Industry P/E 66.87
Debt to Equity 0.01
ROE 3.57
EPS (TTM) 9.31
Dividend Yield 0
Book Value 261.11
Face Value 4

Nazara Technologies Financials

Jun 2023Sep 2023Dec 2023Mar 2024
Net Sales254.43297.24320.4266.21
Expenses236.62285.64299.27284.14
Profit before tax28.2721.2436.9916.93
Operating Profit20.8624.1829.520.18
Net Profit20.8624.1829.520.18
EPS in Rs2.952.993.54-1.15

About Nazara Technologies

History 

Nazara Technologies has had a dynamic history, beginning with its foundation in 1999 by Vikash Mittersain and Nitish Mittersain. Initially, the company focused on mobile-first strategies and content-led microtransactions on telecom networks. It also published cricket games featuring popular players like Sachin Tendulkar, MS Dhoni, and Virender Sehwag.

From 2004 to 2006, Nazara took a strategic direction to prioritise mobile platforms. The following years, 2007 to 2015, were marked by global expansion, with the company building distribution pipes across 64 countries in Africa, the Middle East, and Asia and establishing relationships with 121 operators.

In 2007, Sir Rakesh Jhunjhunwala became an ace investor in Nazara Technologies, with a primary investment of ₹180 crores. Nazara’s consistent track record of sustainable profits and efficient use of cash flows excited Jhunjhunwala as its first digital bet.

In the period from 2015 to 2019, Nazara expanded its offerings to include freemium models on app stores, delved into the intersection of sports and gaming, and launched a subscription service for kids. The company also added the US to its distribution pipeline with a dedicated site for eSports.

The years 2020 to 2022 saw further growth, with the launch of ₹582.91 crore IPO in March 2021. During this time, investments were made by Krafton (the IP owner of PUBG) and GIC Singapore. Nazara also acquired a Middle Eastern game publisher, Publishme, and the skill gaming platform OpenPlay.

In 2023, Nazara’s subsidiary, Sportskeeda, acquired the Pro Football Network, becoming the third NFL Publisher in the US. Nodwin Gaming, another subsidiary, announced the acquisition of a 51% stake in Branded Pte. Ltd. and raised significant investment to support its growth.

Business Segments

Nazara Technologies operates through various business segments, each contributing a different percentage to the company’s overall revenue:

  1. eSports: This segment is spearheaded by divisions like Nodwin Gaming, Sportskeeda, and Publishme. Nodwin Gaming is a premier eSports company organising competitive gaming events. Sportskeeda is a sports content platform, and Publishme is a game publisher in the Middle East. This segment contributes 49% to the company’s overall revenue.
  2. Gaming: This segment includes gamified early learning, freemium, and skill-based games. Divisions under this segment are Kiddopia, which offers educational games for kids; WildWorks, a gaming studio known for its online community games; Nextwave, the creator of popular cricket games; Openplay, a skill-based gaming platform; and Halaplay, a platform for fantasy sports. This business segment contributes 37% to the company’s overall revenue.
  3. Adtech: This segment is the smallest in revenue but plays a vital role in the overall ecosystem of Nazara’s operations. It comprises Datawrkz, an advertising technology firm that provides mobile and video advertising solutions. This segment contributes 14% to the company’s total revenue.

Subsidiaries of Nazara Technologies Limited

As of March 31, 2023, the company has 29 subsidiaries, including 12 direct subsidiaries, 17 step-down subsidiaries and 2 associate companies. Some of the key subsidiaries include:

  1. Absolute Sports Private Limited: Absolute Sports stands out as a premier sports and gaming media enterprise, leveraging technology at its core. Its prominent brand, Sportskeeda, reaches an impressive global audience of over 150 million sports enthusiasts. In a strategic move, Nazara Technologies secured a controlling interest in Absolute Sports in August 2019.
  2. Paper Boat Apps Private Limited: Specialising in creating mobile applications, Paper Boat Apps has carved a niche in the educational gaming content sector. The company’s expertise caught the attention of Nazara Technologies, leading to an acquisition. Following this acquisition, Paper Boat Apps has been evaluated at a market value of approximately $26.2 million.
  3. InstaSportz Consultancy Private Limited: InstaSportz is an ambitious firm focused on establishing the most extensive network of Virtual Reality (VR) gaming zones, not just in India but in various emerging international markets. The company began with its formal establishment on November 18, 2016, marking its entry into the VR gaming industry.

Key Management Personnel

Vikash Mittersain, Chairman and Managing Director

Vikash Mittersain is the founder of Nazara Technologies and currently holds the position of Chairman and Managing Director. He is also widely recognised as a philanthropic figure in the Indian industry. With a remarkable 38-year career, he embarked on his professional journey at just 22, taking charge at Madhav Nagar Cotton Mills in Sangli, where he oversaw a workforce of over 2000 employees. This role marked his initial foray into the business world, paving the way for his future entrepreneurial successes. Currently, he serves as the Honorary Consul General for the Republic of Mali, showcasing his versatile experience in both business and diplomacy.

Corporate Actions 

Bonus

  1. Nazara Technologies Limited announced a 1:1 bonus share issue on June 13, 2022, with the ex-bonus date set for June 27, 2022.
Parent Organisation Indian Private
Founded 1999
Managing Director Vikash Mittersain
NSE Symbol NAZARA

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Nazara Technologies FAQs

What is the Share price of Nazara Technologies (NAZARA)?

Nazara Technologies (NAZARA) share price as of June 14, 2024, on NSE is Rs 868.60 (NSE) and Rs 866.35 (BSE) on BSE.

Can I buy Nazara Technologies (NAZARA) shares?

Yes, You can buy Nazara Technologies (NAZARA) shares by opening a Demat account with Angel One.

How do I buy Nazara Technologies (NAZARA) from Angel One?

Nazara Technologies (NAZARA) share can be brought through the following modes:
  1. Direct investment: You can buy Nazara Technologies (NAZARA) shares by opening a Demat account with Angel One.
  2. Indirect investment: The indirect method involves investing through ETFs and Mutual Funds that offer exposure to Nazara Technologies (NAZARA) shares.

Is Nazara Tech a Debt free Company?

No, Nazara Tech is not a debt free company.

What is the main business of Nazara Tech?

The main business of Nazara Tech is to provide various services across the gaming value chain, including esports, gamified early learning, real money gaming, telco subscription, and freemium gaming segments.

Who are the promoters of Nazara Tech?

Some of the promoters of Nazara Tech are Mitter Infotech LLP, Nitish Mittersain, Neerja Vikash Mittersain, Vishal V Chiripal, Meena Gupta, Vedprakash Chiripal, Kanta Pratapchand Jain, Kavita N Saraogi, Rajesh Pratapchand Jain, Vikash Mittersain, and Rahul Balkrishna Goyal.

What are the Subsidiaries that comes under Nazara Tech?

Some of the domestic subsidiaries that come under Nazara Tech are Openplay Technologies Private Limited, Nodwin Gaming Pvt. Ltd., Paperboat Apps Private Limited, Nextwave Multimedia Private Limited, Absolute Sports Private Limited, Halaplay Technologies Private Limited, and Crimzoncode Technologies Private Limited.