Nazara Technologies Limited has informed the Exchange regarding Change in Auditors of the company.
NAZARA · price
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Nazara Technologies reported FY2026 audited consolidated results with total revenue of Rs 182,898 lakh and net profit of Rs 8,194 lakh, despite recognizing an exceptional impairment loss of Rs 91,470 lakh on its investment in associate Moonshine Technologies due to the Promotion and Regulation of Online Gaming Act, 2025. Key governance changes include the re-designation of founder Mr. Vikash Mittersain from Chairman & Managing Director to 'Founding Chairman' (Non-Executive) effective June 1, 2026, ceasing to be KMP, with Mr. Nitish Mittersain elevated to Managing Director & CEO. Two new directors are being appointed — Mr. Mithun Padam Sacheti (Non-Executive Non-Independent) and Mr. Muraarie Rajan (Independent) — both subject to shareholder approval. The company also appointed MAKK & CO. as internal auditors for FY2026-27 and withdrew the proposed amalgamation of Paper Boat Apps subsidiary. GST show-cause notices totaling approximately Rs 9.06 lakh crore across group entities remain pending as an emphasis of matter.
The leadership transition from Vikash to Nitish Mittersain marks a generational handover at the top, signaling continuity with institutionalisation. The large impairment charge and GST litigation are headwinds but the company maintains strong financials with an unmodified audit opinion.