Date: August 03, 2026

KMP / Board / Auditor Changes

Raymond A. Stauffer appointed as Chief Executive Officer, effective 1 September 2026, subject to relevant regulatory approvals. Prior to September 1, 2026, Raymond A. Stauffer serves as CEO-Designate - Nazara Technologies, and Nitish Mittersain serves as MD and CEO - Nazara Technologies.

Nitish Mittersain continues as Founder and Managing Director, focusing on long-term strategy, portfolio direction and key stakeholder relationships.

Maxime Loppin appointed CEO of Bluetile and BestPlay.

Board Meeting Outcomes

  • Approved amendment to previously announced transaction structure to acquire 100% of Bluetile and BestPlay for fixed all-cash consideration of USD 303 million
  • USD 89 million payable at first close; balance USD 214 million payable in agreed tranches by 1 April 2027
  • Appointment of Raymond A. Stauffer as Chief Executive Officer

Financial Results (Consolidated)

Q1FY27 Performance:

  • Revenue: INR 429 crore (-14% YoY)
  • EBITDA: INR 46 crore (-2% YoY)
  • EBITDA Margin: 10.8%
  • Reported PAT: Loss of INR 82 crore
  • Share of loss from associates: INR 62 crore
  • Impairment loss: INR 22 crore
  • Finance costs: INR 4 crore
  • Depreciation and amortisation: INR 48 crore
  • Other income: INR 9 crore
  • PBT before share of profit/(loss) from associates: (INR 18) crore
  • Tax expenses: INR 2 crore

Expense Breakdown:

  • Advertising and promotion: INR 153 crore
  • Commission: INR 43 crore
  • Employee benefits: INR 80 crore
  • Other expenses: INR 39 crore
  • Total expenses: INR 382 crore

Segment Performance

Gaming Segment (Q1FY27):

  • Revenue: INR 275 crore (+14% YoY)
  • EBITDA: INR 54 crore (-9% YoY)
  • EBITDA Margin: 19.5%

Others Segment (Q1FY27):

  • Revenue: INR 154 crore (-41% YoY)
  • EBITDA: INR 4 crore
  • EBITDA Margin: 2.9%

Business Unit Performance:

Kiddopia:

  • Revenue grew 19% YoY
  • User acquisition scaled behind improving unit economics

Fusebox:

  • Revenue increased 12% YoY to INR 82 crore
  • EBITDA maintained

Animal Jam:

  • Revenue grew 11% YoY

Curve Games:

  • Revenue: INR 53 crore
  • EBITDA: INR 14 crore
  • EBITDA Margin: 27%
  • More than 60% of development investment allocated to new signings
  • New releases expected from Q2FY27

Smaaash and Funky Monkeys:

  • Smaaash: INR 27 crore Revenue, INR 7 crore EBITDA
  • Funky Monkeys: INR 8 crore Revenue, INR 4 crore EBITDA

Strategic Actions

Bluetile and BestPlay Acquisition:

  • 100% acquisition for fixed all-cash consideration of USD 303 million
  • Businesses reported INR 518 crore revenue and INR 55 crore EBITDA in Q1FY27
  • Expected consolidation from Q2FY27
  • Rationale: Eliminated future valuation uncertainty, full economics from day one, immediate operating integration, simplified governance, greater strategic flexibility

NODWIN Status:

  • Deconsolidated from August 2025
  • Excluding NODWIN, comparable consolidated revenue grew approximately 9% YoY
  • Others revenue was broadly flat on comparable basis

Investment Committee

Newly constituted Investment Committee comprising:

  • Muraarie Rajan (Independent Director) - 35+ years in corporate strategy, investment banking, M&A
  • Mithun Padam Sacheti (Non-Executive Director) - Founder of CaratLane
  • Vivek Chopra (Non-Executive Director) - 19+ years in investments, consulting, corporate strategy

Committee supervised evaluation of amended Bluetile and BestPlay transaction structure and will oversee consideration payments, material integration-related capital deployment, and future capital-allocation proposals.

Operational Highlights

Datawrkz: Continued operating discipline and improving earnings profile

Space & Time: Grew EBITDA year-on-year with margin resilience

Sportskeeda: Delivered positive EBITDA at lower cost base

Pro Football Network (PFN): EBITDA margin of 19% vs (0.1%) in Q1FY26

NODWIN Update

  • Live and Content verticals showing synergy leading to operational profitability
  • Planning to restart acquisition engine soon
  • AI investments expected to drive cost reductions of ~INR 12 crore over next 3 years
  • ESOP plan offered to all employees resulting in sub-5% attrition
  • Zero founder attrition post-earnouts