Nazara Technologies CEO change: Mittersain stays MD in 2026

Leadership transition at Nazara Technologies

Nazara Technologies has announced a top management change, with founder-executive Nitish Mittersain resigning as chief executive officer (CEO) effective September 1. The company said Mittersain will continue as managing director (MD). The board has appointed Raymond Albaladejo Stauffer as the new CEO, and he will assume office when Mittersain’s resignation takes effect. Nazara’s board also recorded its acknowledgement of Mittersain’s contribution as CEO, stating he steered the company through multiple phases of growth and transformation.

The development comes at a time when Nazara has been reporting sharp swings across quarterly metrics, including a steep rise in quarterly profit in Q4FY26 versus the preceding quarter. The company operates a diversified gaming and sports media platform, with operations spanning India and multiple international markets. Nazara is listed on BSE (Scrip Code: 543280) and NSE (Scrip Symbol: NAZARA).

What Mittersain will handle as Managing Director

Nazara said Mittersain will now focus his efforts as MD on shaping the company’s long-term strategy, portfolio direction, strategic partnerships, and key stakeholder engagement. That effectively splits operational leadership and broader strategic oversight between the incoming CEO and Mittersain’s MD role.

The company’s disclosures also show that Mittersain has held multiple titles over time, including Chief Executive Officer and Joint Managing Director in company documentation. More recently, he was referenced as MD and CEO in the company’s Q1FY27 results conference call representation list. With the latest change, the CEO role moves to Stauffer while Mittersain retains MD responsibilities.

Board appointment: Raymond Albaladejo Stauffer as CEO

Raymond Albaladejo Stauffer has been appointed by the company board as the new CEO. The company stated he will assume office once Mittersain’s resignation becomes effective. The board’s announcement repeats the appointment and timing, reinforcing that the transition is expected to be completed on the effective date.

Nazara’s communications around investor interactions also list “Raymond Stauffer: CEO & Founder, Bluetile Games” among participants for conference calls, indicating his association with the group ecosystem. The CEO change at the parent level is positioned as a board-led appointment, rather than an interim arrangement.

Recent board redesignations and leadership structure

Nazara has also disclosed prior board-level changes in the same broad period. Mr. Vikash Mittersain was re-designated as ‘Founding Chairman’ and Non-Executive Non-Independent Director effective June 01, 2026. Separately, the company had noted Mr. Nitish Mittersain was promoted to Managing Director and CEO.

This sequence matters because it shows the company has been actively refining governance roles and executive responsibilities. The latest announcement further adjusts this structure by removing the CEO designation from Nitish Mittersain while keeping him in the MD role.

Q4FY26 and FY26 numbers: revenue down in Q4, profit jumps

Nazara’s audited results for Q4FY26 and FY26 include a mixed operating picture. Revenue from operations in Q4FY26 was INR 397.78 crore, down 2.02% QoQ from INR 405.97 crore in Q3FY26 and down 23.53% YoY from INR 520.20 crore in Q4FY25. Total income in Q4FY26 was INR 448.47 crore, up 7.47% QoQ from INR 417.31 crore in Q3FY26, but down 16.78% YoY from INR 538.91 crore in Q4FY25.

Profit, however, rose sharply in the quarter. Net profit (PAT) for Q4FY26 was INR 55.70 crore, up 530.09% QoQ from INR 8.84 crore in Q3FY26 and up 1,268.55% YoY from INR 4.07 crore in Q4FY25.

For the full year FY26, revenue from operations reached INR 1,828.98 crore, up 12.63% YoY from INR 1,623.91 crore in FY25. Total income for FY26 stood at INR 3,072.56 crore, up 79.11% from INR 1,715.44 crore in FY25. FY26 net profit (PAT) was INR 81.94 crore, up 60.79% YoY from INR 50.96 crore in FY25.

Quarterly performance snapshots cited by the company

Nazara’s disclosed quarterly data points also include Q3FY26 results described under its Internet Software & Services classification. For Q3FY26, revenue was reported at INR 406.0 crore versus INR 434.7 crore in Q3FY25 (a 7% decline). EBITDA for Q3FY26 was INR 67.8 crore versus INR 52.4 crore in Q3FY25 (up 29%), with an EBITDA margin of 16.7%.

Other quarterly figures cited include Q2FY26 revenues of INR 526.5 crore (up 65.1% YoY) and EBITDA of INR 62.0 crore (up 146.4% YoY). Q1FY26 revenues were reported at INR 498.8 crore (up 99% YoY) with EBITDA of INR 47.4 crore (up 90% YoY), an EBITDA margin of 24.4%, and PAT of INR 51.3 crore (up 118% YoY). Separately, the company has stated FY25 EBITDA was its highest ever at INR 153.5 crore on revenues of INR 1,624 crore, with a core gaming EBITDA margin of 19.9% and overall EBITDA margin of 9.4%.

Upcoming earnings call and investor communication

Nazara has scheduled an earnings call with analysts and investors on Tuesday, August 04, 2026 at 11:00 a.m. IST to discuss the unaudited financial results for the quarter ended June 30, 2026 (Q1 FY2027). In the conference call invite, the company listed participants including “Nitish Mittersain: MD & CEO” and multiple executives across subsidiaries and group entities.

In a separate disclosure, Nazara also scheduled an earnings call on Wednesday, May 13, 2026 at 09:00 a.m. IST to discuss audited financial results for the quarter and year ended March 31, 2026 (Q4 & FY2026).

Key facts table

Market snapshot and company identifiers

A price snapshot in the provided data shows 339.00, up 30.95 or 10.05%. Nazara’s registered and corporate office is listed as 51-54, Maker Chambers 3, Nariman Point, Mumbai 400021, Maharashtra, with investor contact at investors@nazara.com and website www.nazara.com.

Nazara, incorporated on December 08, 1999, is described as an Indian video game development company with business interests in mobile games, esports, and sports media. It is also described as having subsidiaries including WildWorks, Curve Games, and Sportskeeda.

Why the CEO change matters

The CEO transition formalises a separation between long-term strategic oversight and day-to-day executive leadership. Nazara’s statement that Mittersain will focus on strategy, portfolio direction, partnerships and key stakeholder engagement outlines the priorities the company wants anchored at the MD level.

With an earnings call scheduled for August 04, 2026 to discuss Q1FY27 results, the next investor interaction is set to offer more clarity on leadership continuity and near-term execution. Any further board disclosures around the CEO transition timeline are likely to be aligned with the September 1 effective date already communicated.