Aten Papers & Foam adopts FY26 financials, approves auditor appointment
- Adopted audited financial statements for FY26
- Appointed M/s. Alvi & Associates as Statutory Auditor
- Approved material related party transactions with six entities
- Reappointed Mohamedarif Mohamedibrahim Lakhani as MD
*this image is generated using AI for illustrative purposes only.
Aten Papers & Foam adopted its audited financial statements for the fiscal year ended March 31, 2026, during its 8th Annual General Meeting held on September 30, 2026. The meeting, conducted via video conferencing, also approved the appointment of new statutory auditors and several director reappointments.
The proceedings were chaired by Managing Director Mohamedarif Mohamedibrahim Lakhani, who confirmed the requisite quorum was present. The meeting commenced at 3:20 pm and concluded at 3:28 pm, with resolutions passed through remote e-voting facilities as per SEBI (LODR) Regulations, 2015.
Key resolutions approved
Shareholders voted on multiple ordinary and special resolutions, including the adoption of the Board’s report and the appointment of M/s. Alvi & Associates, Chartered Accountants, Ahmedabad, as the Statutory Auditor. The board also approved the reappointment of Mrs. Amrin Lakhani Mohamedarif as a director retiring by rotation.
| Resolution | Nature | Key Details |
|---|---|---|
| Adoption of Financials | Ordinary | FY26 audited statements, P&L, Cash Flow |
| Auditor Appointment | Ordinary | M/s. Alvi & Associates, Ahmedabad |
| Director Reappointment | Ordinary | Mrs. Amrin Lakhani Mohamedarif |
| Independent Director | Special | Mr. Raghav Jobanputra appointed |
| MD Reappointment | Special | Mohamedarif Mohamedibrahim Lakhani |
Related party transactions
The company sought and received approval for material related party transactions with several entities linked to the management and promoter group. These included transactions with Majethia Papers Private Limited, Aten Paper Mill Limited, Aten Retail MV Limited, Aten Packaging Private Limited, Fine Trading, and Vadiawala Print and Pack.
Additionally, shareholders approved material related party transactions involving Mr. Mohamedarif Mohamedibrahim Lakhani, Mrs. Amrin Lakhani Mohamedarif, and Mrs. Sunera Lakhani. These approvals ensure compliance with regulatory requirements for ongoing business engagements with associated entities.
Governance updates
A special resolution was passed to appoint Mr. Raghav Jobanputra as a Non-Executive and Independent Director, strengthening the board's independent oversight capabilities. Concurrently, the reappointment of Mohamedarif Mohamedibrahim Lakhani as Managing Director cum Chairman was ratified by the shareholders.
No questions or queries were raised by members during the meeting. The consolidated results of the e-voting are scheduled to be announced within two working days and communicated to the stock exchanges.
Historical Stock Returns for Aten Papers & Foam
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | +3.32% | +15.20% | +59.67% | -23.20% | -73.05% |
How will the appointment of M/s. Alvi & Associates as the new statutory auditor potentially impact Aten Papers & Foam's financial reporting transparency and audit risk profile in FY27?
What specific operational synergies or cost efficiencies are expected from the material related party transactions with entities like Majethia Papers and Aten Paper Mill?
How does the addition of Mr. Raghav Jobanputra as an Independent Director influence the company's governance rating and its ability to attract institutional investors?
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