Aten Papers & Foam Ltd

AGM details

• 8th AGM held 30 Sep 2026 via VC/OAVM, 3:20–3:28 PM.

Key resolutions

• Ordinary: Adopt audited financial statements for year ended 31 March 2026.
• Ordinary: Re-appoint director retiring by rotation.
• Ordinary: Appoint M/s Alvi & Associates as Statutory Auditor.
• Special: Appoint Mr. Raghav Jobanputra as Non-Executive Independent Director.
• Special: Re-appoint Mohamedarif Mohamedibrahim Lakhani as Managing Director cum Chairman.
• Ordinary: Approve material related party transactions with Majethia Papers Private Limited.
• Ordinary: Approve material related party transactions with Aten Paper Mill Limited.
• Ordinary: Approve material related party transactions with Aten Retail MV Limited.
• Ordinary: Approve material related party transactions with Aten Packaging Private Limited.
• Ordinary: Approve material related party transactions with Fine Trading.
• Ordinary: Approve material related party transactions with Vadiawala Print and Pack.
• Ordinary: Approve material related party transactions with Mohamedarif Mohamedibrahim Lakhani.
• Ordinary: Approve material related party transactions with Amrin Lakhani Mohamedarif.
• Ordinary: Approve material related party transactions with Sunera Lakhani.

Voting status

• Consolidated voting results to be announced within two working days.

Aten Papers & Foam Limited trading window closed from 1 October 2026 till 48 hours after the declaration and publication of Unaudited Financial Results for the Half Year ended on 30th September, 2026

Book Closure Details

• Book closure from 23 September 2026 to 30 September 2026, inclusive.
• Record date for sending notice: 4 September 2026.
• Cut-off date for e-voting: 23 September 2026.
• Security: Equity shares.

Financial highlights

• Revenue from operations: ₹18,665.40 Lakhs; up from ₹13,869.22.
• PBT: ₹9.98 Crores; Tax: ₹2.59 Crores; PAT: ₹7.39 Crores.
• EPS: ₹7.72; Basic and Diluted.
• IPO net proceeds utilised ₹2,464.32 Lakhs; unutilised ₹305.42 Lakhs.

Operations & strategic developments

• Single segment: Kraft, Waste and Paper products; turnover ₹18,665.40 Lakhs.
• No change in business nature in FY2025-26.
• SPA approved to acquire 27.40% stake in Aten Paper Mill for ₹11.78 Crores.
• IPO: 33.0 Lakh fresh shares issued at ₹96; listed 20 June 2025.

Capital structure & liquidity

• Paid-up capital ₹1,030.00 Lakhs; authorised ₹1,050.00 Lakhs.
• Short-term borrowings ₹934.67 Lakhs; Bandhan Bank WC facility ₹9.95 Crore.
• Cash and cash equivalents ₹315.28 Lakhs.
• Net cash from operating activities: ₹-2,507.91 Lakhs; financing activities: ₹2,943.46 Lakhs inflow.

Governance & board changes

• 8th AGM on 30 Sept 2026 via VC/OAVM.
• Mr. Raghav Jobanputra appointed Independent Director for 5 years (7 Sept 2026–6 Sept 2031).
• MD re-appointment for 3 years from 19 Jul 2027; remuneration up to ₹10 Lakh/month.
• Majid Khan Sherkhan Pathan appointed Independent Director (Apr 2025).
• CFO changes: Zuned Lakhani appointed CFO on 25 Nov 2025; Neha Munot resigned 2 Jun 2026; Kumavat appointed 10 Jun 2026.
• Statutory Auditor: M/s Alvi & Associates; Secretarial Auditor: Gaurav Bachani & Associates; Internal Auditor: Reehan Memon & Associates.

Material related party transactions

• Majethia Papers: Rs 35 Crores maximum RPT.
• Aten Paper Mill: Rs 15 Crores maximum.
• Aten Retail MV: Rs 10 Crores maximum.
• Aten Packaging Private Limited: Rs 10 Crocles maximum.
• Fine Trading: Rs 10 Crores maximum.
• Vadiawala Print and Pack: Rs 10 Crores maximum.
• Mohamedarif Lakhani: Rs 1 Crore maximum.
• Amrin Lakhani: Rs 50 Lakhs maximum.
• Sunera Lakhani: Rs 50 Lakhs maximum.

CSR & sustainability

• CSR spend for 2025-26: ₹9.30 Lakhs; required ₹9.28 Lakhs.
• CSR policy available at www.atenpapers.com.

Audits & internal controls

• Statutory Auditor: M/s Alvi & Associates; unmodified opinion.
• Secretarial Auditor: M/s Gaurav Bachani & Associates.
• Internal Auditor: M/s Reehan Memon & Associates.
• Internal financial controls are adequate and operating effectively.

Outlook & risks

• Packaging demand expected to grow; opportunities in recycled materials.
• Risks include raw material volatility, energy costs, currency fluctuations, and competition.

Director appointment

• Appointment: Mr. Raghav Jobanputra as Additional Non-Executive Independent Director; effective 7 Sept 2026.
• Profile: CA with 15+ years in indirect tax.
• Relationship: Not related to any director.

Director resignation

• Resignation: Premaram Jaitaram Patel, Non-Executive & Independent Director; effective 7 Sept 2026; personal reasons.
• Noteworthy: Shyamkamal Investments Limited and Darjeeling Industries Limited independent directorships.
• Committee memberships: Audit Committee - Member; Nomination & Remuneration Committee - Member.

Managing Director re-appointment

• Re-appointment: MD Mohamedarif Mohamedibrahim Lakhani for 3 years, 19 Jul 2027 to 18 Jul 2030, AGM.
• Profile: Over 22 years in the paper industry.
• Relation: Husband of Amrin Lakhani (Director).

Committee reconstitutions

• AC reconstituted: Chairperson Raghav Jobanputra; Members MajidKhan Sherkhan Pathan, Zuned Lakhani; effective 7 Sept 2026.
• NRC reconstituted: effective 7 Sept 2026.
• SRC reconstituted: effective 7 Sept 2026.

Dematerialisation status

• No physical share certificates were received for dematerialisation of equity shares during the quarter ended 30 June 2026.

• Name: Mr. Mahendrakumar Kumavat, Membership No A80184.
• Designation: Company Secretary and Compliance Officer.
• Effective date: 10 July 2026.
• Reason: Appointment.
• Profile: Associate Company Secretary with governance, corporate law, and regulatory advisory exposure.
• Training: 21 months with a practicing firm.
• Disclosures: Relationships with directors not applicable.
• Governance: KMP status or authority not specified.

Purpose and Resolution

• EGM on 18 February 2026 to appoint M/s. Alvi & Associates as Statutory Auditor for FY 2025-26.
• Ordinary Resolution to fill casual vacancy caused by resignation of previous auditor M/s. Milind Niyati & Co. LLP.
• M/s. Alvi & Associates to hold office until the next Annual General Meeting.

Auditor Appointment Terms

• Auditor remuneration to be decided by a Director in consultation with auditors, plus travel and out-of-pocket expenses.
• No director or KMP has interest in the resolution except as shareholders.

Voting and Participation

• Voting rights proportional to shareholding as of 11 February 2026.
• Remote e-voting from 15 to 17 February 2026; e-voting also during EGM.
• Physical attendance and proxy voting not permitted due to video conferencing format.
• Institutional investors and body corporates may appoint authorized representatives for voting.

Impact

• No changes to shareholding, control, board, or management arise from this resolution.