Nazara Technologies has reported its audited financial results for the quarter and year ended March 31, 2026. The company announced a strategic restructuring of its leadership team, with Mr. Vikash Mittersain transitioning to ‘Founding Chairman’ and Mr. Nitish Mittersain assuming the role of Managing Director and CEO. Additionally, the Board has approved key director appointments and the withdrawal of a proposed amalgamation scheme, underscoring the company’s focus on institutionalized growth.
Financial Performance Overview
For the financial year ended March 31, 2026, Nazara Technologies achieved total income of ₹3,07,256 lakh, with a profit for the year of ₹8,194 lakh. During the Q4 (January-March 2026) period, the company reported total income of ₹44,847 lakh and a profit of ₹5,570 lakh. Management noted an impairment loss of ₹91,470 lakh on an associate investment, stemming from the enactment of the Promotion and Regulation of Online Gaming Act, 2025.
Strategic Leadership Transition
In a significant move to support the company’s evolution as an institutionalized global gaming platform, the Board has approved the re-designation of Mr. Vikash Mittersain from Chairman & Managing Director to ‘Founding Chairman’, effective June 01, 2026. Consequently, Mr. Nitish Mittersain will take the title of Managing Director and Chief Executive Officer on the same date. The company emphasized that this transition ensures the continuity of founder stewardship while enabling strategic guidance from a non-executive capacity.
Board Appointments and Restructuring
The company has strengthened its Board with the appointment of two new directors, effective May 12, 2026. Mr. Mithun Padam Sacheti joins as a Non-Executive Non-Independent Director, while Mr. Muraarie Rajan joins as an Independent Director for a 5-year term. Furthermore, the Board has decided to withdraw the previously announced Scheme of Amalgamation involving its wholly-owned subsidiary, Paper Boat Apps Private Limited, citing a shift in the company’s restructuring plans.
Audit and Operational Updates
M/s. MAKK & Co. has been appointed as the Internal Auditor for the Financial Year 2026-27. The company also clarified its position regarding various Goods and Services Tax (GST) show cause notices received by its subsidiaries and associates, maintaining that no financial adjustments are required at this stage as these matters remain under legal evaluation.
Source: BSE
