Outcome of Board Meeting has been attached herewith
Awaiting price reaction for this filing.
PAE Limited's board approved Q3 and 9M FY26 results showing zero revenue (down from Rs. 61,422.24 lakhs in FY25) and a net loss of Rs. 45.36 lakhs for 9M FY26, with negative other equity of Rs. 2,519.99 lakhs. The statutory auditor issued a Disclaimer of Opinion, unable to verify bank balances, fixed assets (all written off as on March 2025), cash, deposits, and revenue authority balances due to non-availability of records. The company recently emerged from the IBC insolvency process — NCLT admitted CIRP in April 2024, resolution plan approved in November 2024, new board from February 2025, and listing approval received only in November 2025. The board also approved two large preferential issues at Rs. 60 per share: 8 lakh shares to promoters for loan conversion (Rs. 4.8 crore) and 2.57 crore shares via share swap (Rs. 154 crore). Additional changes include appointment of new CFO Mr. Pinalkumar Patel, shifting of registered office from Mumbai to Ahmedabad, renaming the company to 'Aurique Limited', and changing the main objects clause to agro commodities and spices business.
PAE is effectively a reborn entity post-insolvency — the old business has been wound down and a new agro-commodities venture is being assembled via the resolution plan, with massive near-term dilution and a fresh board. The auditor's disclaimer, zero revenue, negative equity, and high-risk pivot make this speculative; existing shareholders should closely watch the March 7 AGM results and the new business's actual traction.