Nazara Technologies Limited updates the Exchange regarding Scheme of Amalgamation.
NAZARA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Nazara Technologies Limited held its Board meeting on May 12, 2026, approving audited consolidated financial results for Q4 and FY ended March 31, 2026. Full-year consolidated revenue stood at Rs. 1,82,898 lakh with profit after tax of Rs. 8,194 lakh. Key leadership changes include re-designation of founder Vikash Mittersain as 'Founding Chairman' (non-executive) effective June 1, 2026, while Nitish Mittersain becomes MD & CEO. Two new directors were appointed. Most notably, the company withdrew the Scheme of Amalgamation of its wholly-owned subsidiary Paper Boat Apps Private Limited with Nazara Technologies, filed with NCLT under Sections 230-232 of the Companies Act, citing change in restructuring plans. The auditors highlighted a Rs. 91,470 lakh impairment loss on investment in associate Moonshine Technologies due to the Promotion and Regulation of Online Gaming Act, 2025, along with GST show cause notices totaling over Rs. 1,064,327 lakh across subsidiaries.
The withdrawal of the Paper Boat Apps amalgamation signals a reversal of previously planned corporate restructuring, which could impact investor expectations around subsidiary consolidation benefits. The leadership transition to Nitish Mittersain as full CEO marks a new phase in governance. The massive impairment and GST liabilities represent significant contingent risks.