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PAE Ltd. Company History and Annual Growth Details

1950 - The Company was Incorporated on 13th July, at Mumbai as a wholly
owned subsidiary of The Premier Automobiles Ltd. (PAL). Since
its incorporation, the Company had been carrying on trading
activities in automobile products, servicing of cars and fitting
of airconditioners in automobiles. Consequent to the public
issue of equity shares during February 1990, the Company ceased
to be a subsidiary of PAL.

- The Company's object is to manufacture steering wheels,
dashboards, bumpers, seats etc., trading and marketing automotive
products, servicing of cars and fitting of airconditioners in

1983 - Initially 5,000 shares were issued all of which were allotted to
Premier Automobiles Ltd. and its nominees. Since then 17,500
bonus shares issued as under: 5,000 shares in prop. 1:1 in 1966;
5,000 shares in prop. 1:2 in 1973 and 7,500 shares in prop. 1:2
in 1980.

1986 - Turnover only rose marginally to Rs.16.72 crores due to sluggish
market conditions and internal problems in one of the major
suppliers factory, viz., International Instruments, Ltd.

1988 - The Company undertook a project to manufacture polyurethane
components such as steering wheels, seats, bumpers etc. for use
in automobiles. The plant was set up at Halol with technical
collaboration from `Engineering Services (Urethanes) Ltd., U.K.
using a technology called Reaction Injection Moulding.

1989 - Equity shares subdivided during Sept./Oct. 2,25,000 bonus shares
of Rs.10 each issued in November, in prop. 1:1.

1990 - The objects of the public issue of equity share in February were
to raise resources required for working capital and also to list
the shares on various stock exchanges.

- 25,50,000 shares issued (prem. of Rs.2/- per share) of which
7,50,000 shares as rights in prop. 5:3 (all were taken up) and
1,27,500 shares on pref. basis to employees (including Indian
working directors)/workers of the Company (only 79,800 shares
taken up). The balance 16,72,500 shares, alongwith 47,700 shares
not taken up by employees were offered to the public in Feb.
Additional 3,82,500 shares were allotted to retain
over-subscription (1,12,500 shares as rights and 2,70,000 shares
to public).

1992 - 16,91,250 rights shares issued (prem. Rs.25 per share; prop. 1:2)
Another 39,900 shares allotted to employees (prem. Rs.25 per

1993 - The company introduced several new lines for marketing.

- On 11th June, the Company signed a Memorandum of Understanding
with Best & Crompton Engineering Ltd., to purchase the plant and
machinery and knowhow to manufacture starter motors and
alternators, and their parts for automobiles. The Company was
also permitted to use the brand name `BEACON' for a period of 30

1994 - The Company also launched auto electrical spare parts under the
brand name of PAE.

- 6,50,000 shares (prem. Rs.115) and 1,00,000 shares (prem.
Rs.116.25) allotted to FFIs, Mutual Funds, FIs on private
placement basis.

1995 - The Company has issued 7,50,000 No. of Equity Shares of Rs.10/-
each to Foreign Institutional Investors, Financial Institutions,
Mutual Funds, Banks and other Bodies Corporate on private
placement basis for an aggregate amount of Rs.938.75 lacs.

1996 - The Company has tied up with PAL Peugeot Ltd., Manufacturers of
Peugeot 309, 118 NE & 1.38D cars for distributing their spare

- The Company has allotted 4,82,750 No. of Equity Shares of Rs.10/-
each, at a premium of Rs.100/- per Equity Share to The Premier
Automobiles Ltd.

- The Company once again has been given "Pl+" rating for the
Commercial Paper and "FAA" rating for the Fixed Deposit Scheme by

1997 - The Company has received ISO 9002 Certification from RWTUV,
Germany during the year.

- Premier Auto Electric, a wholly owned subsidiary of Premier
Automobiles Ltd. has tied up with Loctite India to market its
Permatex range of automotive maintenance products all over the

1999 - The Company has introduced quite a few new products and has also
launched some products in its own brand name PRIYA".

- The Company entered into a Tripartite Agreement with National
Securities Depository Ltd. (NSDL) on 12th July.

2000 - Crisil has downgraded the company rating from `FA' to `FA' for
its FD scheme effective from 2nd March.

- The Company has appointed Mr. Dilip Thakkar and Mr.Pritam A. Doshi Directors.

2001 - Crisil downgraded Premier Auto Electric Ltd.'s fixed deposits programme from FA- to FB+.

2002-Premier Auto Electric Ltd has informed that Shri Vinod L Doshi and Shri Maitreya V Doshi have resigned from the Board of Directors of the Company with effect from November 28, 2002.


-Name of the Company has been changed from 'Premier Auto Electric Limited' to 'PAE LIMITED'


-The trading symbol of the company be changed from PREMAUTOEL to PAEL.


-The Company shifted registered & Corporate Office at 69, Tardeo Road, Mumbai 400034

-Pae Limited has appointed Ms. Smitha Singh as Company Secretary and Compliance Officer.

-The Company has recommended final dividend of 10% on the equity shares.


-The Company recommended a dividend of 15% for the year.


-The Company has recommended a dividend of Rs 1.50 per equity share of Rs 10/- each (15%) for the year.

-EuroTest Laboratory S.r.l (TUV Intercert) has awarded Shurjo Energy Private Limited the PAE Limited's subsidiary, Company International Electrotechnical Commission ("IEC") certification of its solar modules utilizing Copper Indium Gallium diSelenide ("CIGS") technology.

-PAE - enters into Distribution Agreement with Schneider Electric India Private Limited for the distribution of the Xantrex range of products in India.
-PAE Limited invests in PAE Renewables Pvt. Ltd. a Renewable Energy Solutions Company.
-The Company has recommended a dividend of Rs.1.85 per equity share of Rs.10/- each (18.50%) for the year

-PAE Limited incorporates a new company namely PAE Infrastructure Private Limited as its subsidiary company.
-The Company recommended a dividend of Rs. 1.25 per equity share of Rs. 10/- each (1.25%) for the year.