NSE: NAZARA | BSE: 543280

Strong Performer, Getting Expensive

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296.30 -2.35 (-0.79%)

37.37% Gain from 52W Low

446.7K NSE+BSE Volume

NSE 07 Jul, 2026 10:45 AM (IST)

10,976.9

Market Cap

High in industry

Beta 1Year

Low volatility

Nazara Technologies Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for NAZARA, BSE:543280 Nazara Technologies Ltd.

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Nazara Technologies Ltd.

04 Feb 2026

296.30

-0.79%

Nazara Technologies (NAZARA IN) Q3FY26 Result Update Balancing growth & margins is key to revival HOLD

Hold: Nazara Technologies Ltd.

Prabhudas Lilladhar

Kiddopia reports subscriber addition after 10 quarters. We cut our EPS estimates by 11%/8% for FY27E/FY28E as we re-align our depreciation assumptions post de-consolidation of Nodwin. NAZARA IN's operational performance was better than our estimate with EBITDA margin of 16.7% (PLe 15.4%) driven by healthy performance in the console publishing and offline (SMAASH + Funky Monkey) businesses. Even Nodwin registered a sharp turnaround with revenues up by 1.6x with an EBITDA margin of 15.3% as profitability improved across multiple owned IP's. Decision to de-consolidate...

Nazara Technologies Ltd. is trading above all available SMAs

Nazara Technologies Ltd.

14 Nov 2025

296.30

-0.79%

One-offs mar an already arduous quarter

Hold: Nazara Technologies Ltd.

ICICI Securities Limited

In Q2FY26, Nazara recognised an impairment of INR 9.2bn on its investment in Moonshine Technologies due to the regulatory ban on RMG. Nodwin was de-consolidated in Q2FY26.

Nazara Technologies has gained 27.96% in the last 3 Months

Nazara Technologies Ltd.

13 Aug 2025

296.30

-0.79%

Nazara Technologies (NAZARA IN) Q1FY26 Result Update Focus...

Hold: Nazara Technologies Ltd.

Target

Prabhudas Lilladhar

We cut our EPS estimates by 32%/15% for FY26E/FY27E amid widening losses in Nodwin and PokerBaazi. In 1QFY26, Nodwin/PokerBaazi reported an EBITDA loss of Rs110mn/Rs739mn respectively. NAZARA IN reported an in-line performance with revenues of Rs4,988mn (PLe Rs4,872mn) and EBITDA margin of 9.5% (PLe 10.0%) while PAT was aided by revaluation gain of ~Rs660mn in an investee company, STAN. NAZARA IN's plans to cede control in Nodwin by not participating in the fund raise reflects renewed focus on profitability over scale. Even the latest acquisition of Curve Games (EBITDA...

Nazara Technologies has gained 27.96% in the last 3 Months

Nazara Technologies Ltd.

27 May 2025

296.30

-0.79%

Nazara Technologies (NAZARA IN) Q4FY25 Result Update Growth...

Hold: Nazara Technologies Ltd.

Recommendation Target

Prabhudas Lilladhar

We cut our PAT estimates by 15%/6% for FY26E/FY27E as we re-align our depreciation forecast & profitability assumptions for Nodwin and downgrade NAZARA to a HOLD (earlier BUY) with a revised TP of Rs1,241 amid 26% rise in stock price over the last 1 month. NAZARA reported an EBITDA margin of 9.8% (PLe 9.0%) while PAT was impacted by an impairment charge of Rs153mn pertaining to the erstwhile accessories business. We expect sales CAGR of 27.5% over next 2 years led by the recent acquisition of Curve Games with an...

Nazara Technologies .. has an average target of 275.50 from 2 brokers.

Nazara Technologies Ltd.

17 Feb 2025

296.30

-0.79%

Recent acquisitions beginning to contribute meaningfully

Buy: Nazara Technologies Ltd.

ICICI Securities Limited

Nazara Technologies (Nazara) delivered robust Q3FY25 growth, led by ad-tech and gaming segments. Growth in ad-tech was led by the recent acquisition in the UK (Space and Time Media).

Nazara Technologies has gained 27.96% in the last 3 Months

Nazara Technologies Ltd.

17 Feb 2025

296.30

-0.79%

Nazara Technologies (NAZARA IN) Q3FY25 Result Update Well...

Buy: Nazara Technologies Ltd.

Target

Prabhudas Lilladhar

15%/7% in FY26E/FY27E as we re-align our growth & profitability assumptions change in revenue recognition policy of Space & Time (Ad-Tech subsidiary). However, our PAT estimates have been revised downwards by...

Nazara Technologies Ltd. is trading above all available SMAs

Nazara Technologies Ltd.

18 Nov 2024

296.30

-0.79%