Affle India vs Nazara Technologies: Share Price, Comparison and Key Differences

Affle India MCap Rs 23,794 Cr, PE 52.31x, ROE 12.45%, zero debt. Nazara Technologies MCap Rs 13,567 Cr, loss-making at parent level (EPS -1.35).

Updated: 10 Aug 2026 • 2:55 pm

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Affle India vs Nazara Technologies: Share Price, Comparison and Key Differences

Affle India vs Nazara Technologies is a comparison digital media investors look up when evaluating two listed Indian technology and media companies. Affle India is a Singapore-headquartered mobile advertising technology company, listed in India, providing programmatic mobile marketing to brands across emerging markets. Nazara Technologies is India’s first publicly listed gaming company operating interactive gaming, e-sports and gaming SaaS across India, Africa and North America – and has been aggressively acquiring gaming companies.

This Affle India vs Nazara Technologies article covers reach and market position, key products, latest declared results and stock valuation. The Affle India vs Nazara Technologies data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

Table of Contents

Affle India vs Nazara Technologies: Reach and Market Position

On the Affle India side of the Affle India vs Nazara Technologies comparison, Affle operates a mobile advertising and marketing technology platform (CPCU – Cost Per Converted User) that helps brands acquire and retain consumers across mobile apps in India, South-East Asia, the Middle East and Africa. Market capitalisation is Rs 23,794 Cr.

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On the Nazara Technologies side of the Affle India vs Nazara Technologies comparison, Nazara Technologies operates game studios, e-sports platforms (Nodwin Gaming), gaming SaaS (Sportskeeda) and children’s gaming (WCC cricket games, Kiddopia) across multiple markets. Market capitalisation is Rs 13,567 Cr.

Affle India vs Nazara Technologies: Key Products and Business Mix

In the Affle India vs Nazara Technologies product comparison, Affle India offers: Affle earns from CPCU mobile advertising campaigns for e-commerce, BFSI, telecom and consumer brands. EPS is Rs 32.29. PE is 52.31x, ROE 12.45 percent, zero debt.

For Nazara Technologies in this Affle India vs Nazara Technologies breakdown: Nazara earns from gaming subscription revenue, esports media rights, advertising and SaaS. EPS is -Rs 1.35 (loss-making at consolidated parent level). ROE is 27.81 percent (statistical – thin equity base). The company’s parent-level losses reflect investments in acquisitions.

Affle India vs Nazara Technologies: Latest Results

The Affle India vs Nazara Technologies results for Affle India: Affle India has a market cap of Rs 23,794 Cr and PE of 52.31x. ROE is 12.45 percent with zero debt. Affle is consistently profitable.

The Affle India vs Nazara Technologies results for Nazara Technologies: Nazara Technologies has a market cap of Rs 13,567 Cr and is loss-making at the consolidated parent level. Individual subsidiaries (Nodwin Gaming, Sportskeeda, WCC) may be profitable, but parent-level consolidation results in a loss due to acquisition-related investments.

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Affle India vs Nazara Technologies: Stock and Valuation

The Affle India vs Nazara Technologies stock comparison uses the latest available market data from Groww. Investors tracking Affle India vs Nazara Technologies should verify current prices on NSE or BSE before trading.

Affle India vs Nazara Technologies at current valuations: Affle trades at Rs 23,794 Cr market cap, PE 52.31x, ROE 12.45 percent, zero debt. Nazara trades at Rs 13,567 Cr, loss-making at parent level. Affle is profitable and growing. Nazara is pre-profitability at the consolidated level.

Affle India vs Nazara Technologies: Quick Comparison Table

The Affle India vs Nazara Technologies comparison table below summarises the key metrics covered in this article side by side.

Parameter	Affle India	Nazara Technologies
Sector	Mobile ad-tech: programmatic CPCU marketing (India, SEA, MEA)	Gaming + esports + SaaS: India, Africa, US
Market Cap	Rs 23,794 Cr	Rs 13,567 Cr
P/E Ratio	52.31x	N/A (parent-level loss)
ROE	12.45%	27.81% (stat.; thin equity base)
Profitability	Profitable	Loss-making at parent level
Debt to Equity	Zero	0.06
Dividend	None	None

Conclusion

The Affle India vs Nazara Technologies comparison above covers the key data points on reach, products, results and valuation. Affle India vs Nazara Technologies covers two Indian digital companies – one in mobile ad-tech and one in gaming. Affle is a consistently profitable, zero-debt mobile advertising company growing with India’s smartphone and internet adoption. Nazara is a gaming company in the pre-profitability investment phase, building a portfolio of gaming and esports assets. Affle vs Nazara investors should review Affle’s CPCU conversions and margin trajectory, and Nazara’s consolidated EBITDA and path to parent-level profitability. Affle vs Nazara represent contrasting digital media risk-return – consult a SEBI-registered advisor for personalised guidance.

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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What does Affle India do?

Ans. Affle India operates a mobile programmatic advertising platform (CPCU – Cost Per Converted User) that charges brands only when consumers take a desired action (app download, purchase, registration) rather than per impression or click.

What does Nazara Technologies do?

Ans. Nazara Technologies is India’s largest listed gaming company. It operates e-sports (Nodwin Gaming), gaming SaaS (Sportskeeda), children’s gaming (WCC cricket, Kiddopia educational apps), and has acquired several gaming companies globally.

Why is Nazara loss-making at parent level?

Ans. Nazara’s parent-level loss reflects goodwill amortisation and other accounting adjustments from acquisitions. Its operating subsidiaries (Nodwin Gaming, Sportskeeda) may be individually profitable.

What is CPCU?

Ans. CPCU (Cost Per Converted User) is Affle’s performance marketing model where advertisers pay only when a measurable user conversion occurs – an app install, account registration or purchase – rather than paying per impression or click.