Patron Exim Limited Expands into Agricultural and Food Business

Patron Exim Limited , a publicly traded company, has announced a significant expansion of its business scope. The company's Board of Directors has approved an amendment to its Memorandum of Association, adding a new main object clause that will allow it to enter the agricultural products and food business sector.

New Business Ventures

The proposed amendment, which is subject to shareholder approval, will enable Patron Exim Limited to engage in a wide range of activities related to agricultural and food products. These include:

• Purchase, sale, supply, import, export, trading, and distribution of agricultural products, edible oils, food products, commodities, and allied goods
• Establishment and operation of manufacturing and processing facilities, refineries, warehouses, silos, cold storages, and packaging units
• Wholesale and retail trade of agricultural produce, edible oils, food staples, processed foods, specialty fats, and allied consumer products
• Development and promotion of brands, trademarks, labels, and packaging related to the new business ventures

Board Meeting Details

The decision to amend the Memorandum of Association was made during a board meeting held on September 5. The meeting commenced at 09:30 am and concluded at 10:30 am, lasting for one hour.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Patron Exim Limited has duly informed the BSE Limited about this development.

Management Statement

Narendrakumar Patel, the Managing Director of Patron Exim Limited, signed the official intimation to the stock exchange. This move signifies the company's intent to diversify its operations and tap into the growing agricultural and food products sector.

Next Steps

The proposed amendment to the Memorandum of Association is now subject to shareholder approval. Once approved, it will mark a significant shift in Patron Exim Limited's business strategy, potentially opening up new revenue streams and growth opportunities in the agricultural and food products industry.

Investors and stakeholders will be keenly watching how this expansion impacts the company's future performance and market position in the coming months.