Pursuant to Regulation 30 read with schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Board of Directors at its meeting held today at D-10, Sector-3, Noida 201301 through the mode of video conferencing, inter alia, considered and approved the draft of 'Consortium Agreement' proposed to be entered into by the Precision Electronics Limited ('the Company') with M/s Victora Auto Pvt. Ltd. (A related party and an established large player in the auto components industry with global presence and infrastructure), to address the opportunities in the nascent Electric Vehicle (EV) market space for products like Chargers, Wire harnesses and Power Distribution Units. You are requested to kindly take the same on record.