Aurique Limited shareholders approved the issuance of up to 2.5 crore fully convertible equity warrants and ratified the company's name change from PAE Limited at its Extra-Ordinary General Meeting on September 3, 2026. All three special resolutions were passed with requisite majority.

The meeting was conducted via Video Conference or Other Audio-Visual Means (OAVM). A total of 19 shareholders attended the proceedings, comprising three from the promoter group and 16 from the public category. The company had 4,837 shareholders as on the record date of August 28, 2026.

Resolutions Passed

The members passed three special resolutions during the session:

• Authorization to issue and allot up to 2.5 crore Fully Convertible Equity Warrants to promoter and non-promoter categories via preferential issue.
• Approval for the change in the object clause of the company and subsequent changes to Clause III of the Memorandum of Association.
• Appointment of Ms. Sakshi Dwivedi as a Non-Executive Independent Director on the Board.

Voting Results

The scrutinizer, M/s. Kamlesh M. Shah & Co., confirmed that all resolutions were duly approved. The voting pattern revealed distinct participation levels between promoter and public shareholders across different agenda items.

Promoter shareholders held 950,000 shares but did not vote on the warrant issuance resolution, likely due to conflict of interest rules regarding preferential allotments. However, they voted in favour of both the Memorandum of Association changes and the appointment of the independent director. Public non-institutional shareholders, holding 349,923 shares, cast 27,750 votes (7.93% participation) in favour of all three resolutions.

Board and Attendance

Mr. Nimeshkumar Ganpatbhai Patel, Chairman and Managing Director, chaired the meeting. Other directors present included Mr. Pinalkumar Kalidas Patel (Director & CFO), Mr. Jatinbhai Ramanbhai Patel, Mr. Mayankkumar Ashokbhai Sedani, Mr. Akash Patel, and Ms. Sakshi Dwivedi.

The Company Secretary informed members that remote e-voting facilities were available prior to and during the meeting. The voting results will be submitted to stock exchanges within the prescribed timeframe. The e-voting facility remained open for 15 minutes after the conclusion of the meeting.

Aurique Limited reported a net profit of ₹5.64 lakh for the quarter ended June 30, 2026, a turnaround from the net loss of ₹21.51 lakh recorded in the corresponding period of the previous year. Revenue from operations for the quarter stood at ₹104.50 lakh, compared to nil in the prior year. The company's equity share capital increased to ₹130 lakh following a bonus issue.

The Board of Directors approved the unaudited standalone financial results for Q1FY27 at a meeting held on July 15, 2026. Alongside the results, the board approved the change in category of Mr. Nimeshkumar Ganpatbhai Patel from 'Promoter' to 'Professional Director', effective July 15, 2026. He continues to serve as the Managing Director of the company.

J.M. Patel & Bros, Chartered Accountants, issued a disclaimer of opinion on the limited review report, stating they were unable to obtain sufficient appropriate evidence to provide a basis for a review conclusion. The auditor cited several material and pervasive matters restricting their ability to verify the financial results.

The auditor highlighted the absence of external confirmations and bank trails for debtors and creditors. Specifically, no independent confirmations were provided for Sundry Debtors due from Plenta Foods LLP or Sundry Creditors due to Alphentine Foods Private Limited. Furthermore, there were no cash flow transactions in these ledgers during the quarter, casting doubt on the existence and recoverability of these balances.

Concerns were also raised regarding the legality of the dividend payout. The auditor noted that the company transferred ₹2,00,000 to an Unpaid Dividend Account on June 1, 2026, and initiated payouts from June 9, 2026, despite the main bank account having a closing balance of only ₹15,811.73 as of April 1, 2026, and no cash realization from operations during the quarter.

Additionally, the auditor pointed out that active bank accounts continued to be operated under the company's former name, PAE Limited, despite the official name change to Aurique Limited on May 11, 2026. Out of 10 bank accounts reflected in the books, statements and confirmations were not provided for 8 accounts, preventing verification of bank balances. The auditor also expressed inability to verify the correctness of opening equity balances due to a quasi-equity write-off of ₹5,38,84,446 against accumulated losses.

Financial Performance Summary