Submission of the Revised Annual Report for FY 2024-25 after incorporating the necessary corrections. The explanation has been given in the cover letter attached herewith.
Awaiting price reaction for this filing.
PAE Ltd has submitted a revised copy of its Annual Report for FY 2024-25 to BSE, after fixing a formatting error where certain Notes to Accounts in the financial statements were truncated during Excel-to-PDF conversion. The document is the 75th Annual Report and includes the AGM notice for March 7, 2026. The notice contains several major corporate proposals: changing the company's name to AURIQUE Limited, shifting the registered office from Maharashtra to Gujarat, and overhauling the object clause to pivot into agriculture, food processing, FMCG, dairy, and contract farming. Shareholders are also being asked to approve a hike in authorized share capital from ₹25 crore to ₹27.48 crore, an increase in borrowing limits to ₹5,000 crore, and an unsecured loan of up to ₹100 crore from Director Jatinbhai Ramanbhai Patel with an option to convert into equity. New appointments of statutory auditor (M/s J M Patel & Bros) and secretarial auditor are also proposed, along with several new independent director appointments.
The revised filing itself is a corrective administrative update and should not materially affect shareholders. However, the embedded AGM proposals are highly significant — they point to a complete business pivot, rebranding to AURIQUE Limited, a potential dilution via the director's loan-to-equity option, and a major expansion of borrowing capacity, all of which could substantially reshape the company's profile and risk for shareholders.