integrated Filing (Financial)
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Awaiting price reaction for this filing.
Aten Papers & Foam reported revenue from operations of ₹6,675.72 lakhs for H1 FY26, up ~14.7% from ₹5,817.45 lakhs in H1 FY25. However, profit before tax fell ~39% to ₹310.82 lakhs (from ₹510.03 lakhs), and profit after tax dropped ~40% to ₹227.11 lakhs (from ₹381.66 lakhs), reflecting significant cost pressure with total expenses rising ~20%. EPS stood at ₹2.56 (vs ₹5.45 earlier). The company recently listed on BSE SME platform on June 20, 2025 via an IPO of ₹3,168 lakhs; post-listing, reserves jumped to ₹3,418.63 lakhs and both long-term and short-term borrowings dropped sharply. IPO proceeds meant for working capital, general corporate use, and issue expenses have been fully utilized, while the ₹427.74 lakhs earmarked for capital expenditure remains unutilized. Multiple related-party transactions with promoter-linked entities have been disclosed. The auditor (Milind Niyati & Co. LLP) issued an unmodified review report.
Earnings quality has weakened sharply — rising costs have eaten into profitability despite decent top-line growth, which is a red flag for shareholders. However, the post-IPO balance sheet is much stronger with low debt and healthy cash, offering near-term comfort.