Statement of Deviation and Variation
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.5 pts more than Nifty Microcap 250 and 4.9 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Aten Papers & Foam, which listed on the BSE SME platform in June 2025, submitted its first half-yearly results as a listed company. Revenue from operations rose about 15% year-on-year to Rs. 6,675.72 lakhs (from Rs. 5,817.45 lakhs in H1 FY25), but profit after tax fell sharply to Rs. 227.11 lakhs (from Rs. 381.66 lakhs), with EPS dropping to Rs. 2.56 from Rs. 5.45. The IPO raised Rs. 3,168 lakhs, fully utilised for working capital (Rs. 1,550 lakhs), general corporate purposes (Rs. 792 lakhs) and issue expenses (Rs. 398 lakhs), though the Rs. 427.74 lakhs earmarked for capital expenditure remains unutilised with no deviation reported. The balance sheet strengthened considerably, with cash rising to Rs. 458.70 lakhs and short-term borrowings dropping sharply. The auditor (Milind Nyati & Co. LLP) gave an unqualified review report, and several related-party transactions with promoter-group entities were disclosed.
Despite top-line growth, sharp margin compression and a ~40% fall in profit are negatives for shareholders, while a clean audit and zero IPO deviation with a stronger cash position offer some comfort. Investors should watch for deployment of the unutilised capex funds and the sustainability of margins going forward.