In 1950, PAE (known as Premier Auto Electric) made a small beginning with a sales office in Mumbai for auto electrical components. Over a short period of time, it developed in to a full-fledged service station for auto electrical equipment, and then as a distributor and service agent for world leaders such as General Electric, Carter, Prestolite, Autolite, and Magneti Marelli in the metro cities of India.
In the year 1990, PAE became a public-listed company on the Bombay Stock Exchange and raised additional capital in 1997 via a rights issue.
In the year 2003, the company entered into non-automotive businesses such as industrial batteries and power solutions and changed its name to PAE.
Recently, PAE announces results for 3rd quarter ending December 31, 2009. Income from operations reported at Rs 4748 lakh vs Rs 6303 lakh and PBT of Rs147 lakh vs Rs 252 lakh as compared to the corresponding quarter previous year.
Business area of the company