Nazara Technologies Limited announced its Q2 2026 financial results, alongside significant strategic decisions. The Board approved investments totaling INR 9.9 Crores in Funky Monkeys Play Center Private Limited and an unsecured loan of INR 24 Crores to Smaaash Entertainment Private Limited. Key leadership changes include the appointment of Mr. Raymond Albaladejo Stauffer as CEO and Mr. Con Anthony Conlon as Independent Director, with Mr. Nitish Mittersain transitioning from CEO to Managing Director.
Nazara Technologies Board Meeting Highlights Q2 2026 Performance and Strategic Investments
Nazara Technologies Limited held its Board meeting on August 3, 2026, during which it considered and approved several key financial and strategic initiatives. The Board took note of the Unaudited Consolidated and Standalone Financial Results for the quarter ended June 30, 2026. The limited review report from the Statutory Auditors was also acknowledged.
Strategic Investments Approved
The company has granted in-principle approval for further investment in Funky Monkeys Play Center Private Limited, a subsidiary, amounting to INR 9.9 Crores. This investment, to be made in cash through primary subscription and secondary acquisition, is expected to increase Nazara’s shareholding in FunkyMonkeys to approximately 68.1% on a fully diluted basis.
Additionally, Nazara approved granting an unsecured loan of up to INR 24 Crores to Smaaash Entertainment Private Limited, another wholly-owned subsidiary. These investments aim to bolster the company’s subsidiaries and expand its market presence.
Acquisition Terms Revised
Further to its prior disclosure on March 18, 2026, regarding the acquisition of Bluetile Games S.L. and Bestplay Systems S.L. by Nazara Technologies UK Limited, the Board approved revised commercial terms. An Amended and Restated Share Purchase Agreement (Amended SPA) will supersede the original SPA. Notably, the revised terms eliminate stock consideration, releasing Nazara Technologies Limited from its original obligations related to share issuance.
Leadership Transitions
In a significant leadership reshuffle, the Board appointed Mr. Raymond Albaladejo Stauffer as the Chief Executive Officer (CEO) and Key Managerial Personnel (KMP), effective September 1, 2026. Concurrently, Mr. Nitish Mittersain, while continuing as Managing Director, tendered his resignation from the office of CEO, effective the same date.
Furthermore, the company announced the appointment of Mr. Con Anthony Conlon as an Additional Director in the category of Independent Director, subject to member approval, for a five-year term commencing August 03, 2026. The Board also noted the resignation of Mr. Arun Vijaykumar Gupta as an Independent Director, effective August 04, 2026.
Financial Results Overview
The unaudited consolidated financial results for the quarter ended June 30, 2026, showed a revenue from operations of INR 42,877 lakh. The net loss for the period after tax attributable to equity shareholders was INR 7,992 lakh, compared to a profit of INR 4,696 lakh in the same quarter of the previous year. Total comprehensive income attributable to equity shareholders was a loss of INR 7,555 lakh.
Share Capital Update
Following the allotment of equity shares upon warrant conversion to Founders Collective Fund, the issued, subscribed, and paid-up equity share capital of the Company increased to INR 76,93,92,048, comprising 38,46,96,024 equity shares of INR 2 each.
Source: BSE
