Nazara loses GST appeal; about Rs 5.68 crore demand upheld

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Price reactionminutes from the announcement price · days from the prior close

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₹258.80

prior close

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announcement price

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+2.6%+2.9% vs market

Entertainment peers, median of 50sector · industry level+0.7%+4.8% vs sector

On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 4.8 pts more than its Entertainment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Nazara Technologies lost its GST appeal. The Appellate Authority upheld a tax demand of Rs 2.84 crore and an equal penalty of Rs 2.84 crore (total about Rs 5.68 crore) related to non-receipt of export proceeds for FY 2017-18 and FY 2018-19. The company plans to file a further appeal before the appropriate appellate authority or tribunal. Nazara says the order will not have any material impact on its financials, operations or other activities.

Likely market impact

Unfavourable GST ruling with about Rs 5.68 crore exposure. Company to appeal further; management says no material impact on operations.