Gaming
From Panels to Portfolios Comic Con and IICT Team Up for Creator Power
MUMBAI: When cosplay meets classroom and panels turn into portfolios, you know India’s creative industry is getting its origin story right. In a move straight out of a well-scripted crossover, Comic Con India and the Indian Institute of Creative Technologies (IICT) have inked an MoU to jointly supercharge India’s animation, gaming, comics, and extended reality (AVGC-XR) ecosystem.
The partnership, announced during the launch of the IICT-NFDC campus in Mumbai and the unveiling of the WAVES Outcome Report, was signed by Ashish Kulkarni, Board Member, IICT, and Shefali Johnson, CEO, Comic Con India. The high-powered event also saw the presence of government heavyweights like Devendra Fadnavis, deputy chief minister of Maharashtra, Ashwini Vaishnaw, union minister for I&B, Railways and IT, and Sanjay Jaju, secretary, ministry of information & broadcasting, a clear signal that India’s creative economy is getting serious state backing.
Comic Con India, now part of Nodwin Gaming, has long been the country’s pop culture mothership, attracting fans, creators, and cosplayers in droves. On the other side, IICT, a newly announced National Centre of Excellence for AVGC-XR aims to be the IIT of the creative world, with a mission to train top talent, foster original IP, and bridge academia with the industry.
The MoU packs in more than just fanfare. IICT students will get a dedicated showcase zone at Comic Con India events, along with masterclasses from top creators in gaming, comics, animation, and XR. The partnership also includes hackathons, design jams, behind-the-scenes internships, and initiatives to promote youth-led fan art and indie content creation.
The collaboration comes at a time when India’s AVGC-XR sector is levelling up. As per the FX & Beyond: Shaping India’s AVGC Landscape report, the sector accounted for 20 per cent of the broader M&E industry in 2023, with revenues of 3.9 billion dollars. That figure is projected to rise to 6.8 billion dollars by 2026. Perhaps more crucially, AVGC-XR is expected to generate 160,000 new jobs annually with a roadmap to reach over 2 million direct jobs by 2030.
“We are proud to collaborate with IICT as part of the broader AVGC-XR vision for India,” said Shefali Johnson. “Through Comic Con, students can gain mentorship, connect with pop culture communities, and better understand the commercial dynamics of their craft.”
Ashish Kulkarni added, “This partnership aligns perfectly with the government’s vision of making India a global creative content hub. We aim to carve pathways for Indigenous IP using a transmedia ecosystem and build a vibrant pipeline of cultural ambassadors from India.”
For fans, creators, and students alike, this crossover has franchise potential. With India looking to go from content consumer to content powerhouse, the IICT-Comic Con alliance might just be the origin story the AVGC-XR sector needs.
Get your pens and pixels ready.
Gaming
Bluestone FY26 revenue rises to Rs 2,436 crore, turns profitable
Q4 profit at Rs 31 crore, full-year profit at Rs 13 crore vs loss last year.
MUMBAI: From sparkle to numbers, Bluestone seems to be polishing more than just jewellery this year. Bluestone Jewellery and Lifestyle Limited reported a sharp turnaround in FY26, with revenue from operations rising to Rs 2,436 crore (Rs 24,364 million), up from Rs 1,770 crore (Rs 17,700 million) in FY25. The company posted a full-year profit of Rs 13 crore (Rs 131.79 million), a significant recovery from a loss of Rs 222 crore (Rs 2,218 million) a year ago.
Total income for the year stood at Rs 2,486 crore (Rs 24,860 million), compared to Rs 1,830 crore (Rs 18,300 million) in the previous year, reflecting both topline growth and improved operational momentum.
The March quarter, however, told a more nuanced story. Revenue from operations came in at Rs 681 crore (Rs 6,814 million), down from Rs 748 crore (Rs 7,486 million) in the year-ago period, though higher than Rs 461 crore (Rs 4,613 million) in the preceding December quarter. Net profit for Q4 stood at Rs 31 crore (Rs 311.81 million), compared to Rs 68 crore (Rs 688 million) a year earlier, but a clear reversal from a loss of Rs 51 crore (Rs 512 million) in Q3.
Margins were shaped by higher input costs, with raw material consumption rising to Rs 2,204 crore (Rs 22,043 million) for the full year, alongside employee benefit expenses of Rs 282 crore (Rs 2,824 million) and finance costs of Rs 210 crore (Rs 2,104 million). Other expenses came in at Rs 371 crore (Rs 3,715 million), slightly lower than Rs 393 crore (Rs 3,938 million) in FY25.
On the balance sheet front, total assets expanded to Rs 4,961 crore (Rs 49,610 million) as of March 31, 2026, from Rs 3,532 crore (Rs 35,322 million) a year earlier, driven largely by a surge in inventories to Rs 2,672 crore (Rs 26,718 million). Equity also strengthened to Rs 1,803 crore (Rs 18,030 million), nearly doubling from Rs 911 crore (Rs 9,107 million).
Cash flows reflected the cost of growth. Net cash used in operating activities stood at Rs 199 crore (Rs 1,990 million), while investing activities saw an outflow of Rs 239 crore (Rs 2,392 million). Financing activities, however, generated Rs 497 crore (Rs 4,971 million), helping the company end the year with cash and cash equivalents of Rs 108 crore (Rs 1,075 million), up from Rs 49 crore (Rs 487 million).
Earnings per share for FY26 came in at Rs 1.10, a sharp improvement from a negative Rs 79.74 in FY25, underlining the shift from losses to profitability.
With revenue scaling up, costs still glittering on the higher side, and profitability finally back in the black, BlueStone’s FY26 performance suggests a business mid-transition less about shine alone, and more about sustaining it.
