Nazara Technologies Limited updates the Exchange regarding Scheme of Amalgamation.
NAZARA · price
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Nazara Technologies reported FY26 consolidated revenue of Rs. 1,82,898 lakhs, up 13% from Rs. 1,62,391 lakhs in FY25, driven by near-doubling of gaming revenue to Rs. 1,07,224 lakhs. However, the company recorded a significant Rs. 91,470 lakhs impairment loss on its Moonshine Technologies associate due to the Online Gaming Act 2025 prohibiting online money games. GST show cause notices totaling over Rs. 10,64,000 lakhs across subsidiaries remain pending. Leadership transitioned as founder Vikash Mittersain moved from MD to non-executive Founding Chairman, with son Nitish Mittersain now elevated to MD & CEO. The company withdrew its NCLT-filed scheme to amalgamate Paper Boat Apps Private Limited, citing changed restructuring plans.
Strong revenue growth and institutionalization of leadership are positives, but the massive GST liability exposure and impairment charges create uncertainty. The withdrawal of the amalgamation scheme signals no near-term simplification of the corporate structure.