Aurique Ltd

PAE Limited, formerly known as Premier Auto Electric Limited was incorporated as wholly-owned subsidiary of Premier Automobiles Limited in July, 1950. During the year 2003, the name of the Company was changed from Premier Auto Electric Ltd. to PAE Limited. The Company since incorporation, has been trading in automobile products, servicing cars and fitting air-conditioners in automobiles, after public issue in Feb '90 PAE ceased to be a subsidiary of PAL. The Company started operations as a representative of reputed foreign automobile /automobile component manufacturers and gradually expanded into service station activities. It expanded activities by adding a network of branches representing major auto ancillary manufacturers in India. On Jun.'93, PAE signed an MoU with Best & Crompton Engineering to purchase plant and machinery for automobiles and for know-how to manufacture starter motors and alternators and their parts. With the rights to use Becon brand for 30 months, it has the exclusive rights to market components for PAL-Peugeot cars in the domestic market. In 1996, Company issued bonus shares in the ratio of 1 equity for every 2 equity shares. PAEL closed down its auto electrical division at Ambattur, Chennai with effect from 3rd August, 1998. During 1998-99, it introduced some products with its brand name 'PRIYA'. While focusing on its core activity of marketing and distributing automotive components, the company has also taken up the operation of running vehicle depos in some locations for Ind Auto Ltd, the joint venture car manufacturing company of Fiat and PAL. During the year 2000-2001 the turnover of the company declined to a large extent and main reason for the decline is a)recession in the automobile industry b)Devastating earthquake in Gujarat which is major business center etc. The company's Fixed Deposit Scheme has been rated as 'FB+' by crisil, indicating timely payment of interest and principal. Earlier, the Company was engaged in Sale & Service of Lead Storage Batteries, Power Back up System & trading of Automotive Parts. Pursuant to a Special Resolution passed in the Annual General Meeting held on March 7, 2026, the Company altered its Object Clause to shift its core business focus from the automobile sector to the processing and trading of Agriculture Commodities.