The revised outcome for meeting of Board of directors held on Thursday April 23, 2026 has been attached herewith.
Awaiting price reaction for this filing.
PAE Limited's Board meeting on April 23, 2026 approved audited standalone financial results for FY 2025-26 showing revenue of Rs. 253.13 Lakhs and net profit of Rs. 33.14 Lakhs. However, the statutory auditor J.M. Patel & Bros. issued a DISCLAIMER OF OPINION, meaning they cannot express any opinion on the financial statements. Key concerns cited include: Rs. 5.39 crore quasi-equity write-off against accumulated losses per NCLT order; unverified rice trading transactions of Rs. 1.27 crore recorded entirely through book entries with no banking records, E-way bills, or transport receipts; unverifiable bank balances; and dividend recommendation of Rs. 0.20 per share based on unverified profits. The company also recommended a 6:1 bonus issue for public shareholders (excluding promoters) to meet minimum public shareholding requirements, and altered its object clause to shift from automobile business to agro-commodity trading (rice, ethanol) and renewable energy. The company emerged from NCLT insolvency proceedings in November 2024.
This is a high-risk filing. The auditor's disclaimer of opinion indicates fundamental questions about the reliability of the company's financial statements. Shareholders should exercise extreme caution as the reported profits, bank balances, and underlying business transactions cannot be verified. The dividend recommendation and bonus issue are based on financials that lack audit credibility.