Dividend Declaration

The Board of Directors, at its meeting held on October 15, 2026, declared a second interim dividend of ₹7.5 (Rupees seven and paise fifty only) per equity share of face value ₹1 each for the financial year 2026-27.

Tax Withholding Framework

The dividend will be paid after deducting tax at source as per the provisions of the Income-tax Act, 2025, effective from April 1, 2026. The applicable TDS rate varies based on the residential status of the shareholder and the documentation submitted.

Key Dates and Deadlines

  • Record Date: Friday, October 23, 2026.
  • Document Submission Deadline: All requisite forms and documents for availing lower/NIL TDS must be uploaded on the RTA portal on or before Friday, October 23, 2026.

Shareholder Actions Required

1. Ensure bank account details are updated with the Depository Participant (demat holdings) or with the RTA (physical holdings).

2. Update and verify PAN and residential status with the depositories/RTA.

3. For individual taxpayers, link PAN with Aadhaar to avoid PAN being deemed inoperative.

4. Submit all required declarations and supporting documents exclusively via the dedicated RTA portal: https://web.in.mpms.mufg.com/client-downloads.html.

Applicable TDS Rates for Resident Shareholders

  • With valid PAN: 10%*
  • Without PAN / Invalid PAN: 20%
  • Inoperative PAN: 20% (if not linked with Aadhaar)
  • Submitting Form 12I: NIL (with signed declaration and PAN copy)
  • Certificate u/s 395(1): Rate provided in the certificate (lower/NIL withholding certificate from tax authority)
  • Insurance Company (Sec 393(4)): NIL (with self-declaration, IRDA registration, and PAN)
  • Mutual Fund (Schedule VII): NIL (with self-declaration, PAN, and registration certificate)
  • Category I & II AIF: NIL (with self-declaration, PAN, and registration certificate)
  • NPS Trust: NIL (with self-declaration and PAN)

*Note: No TDS if total dividend paid to a Resident Individual in a tax year does not exceed ₹10,000.

Applicable TDS Rates for Non-Resident Shareholders

The standard rate is 20%, or the beneficial Tax Treaty rate, whichever is lower. To apply the treaty rate, shareholders must submit:

1. Indian PAN (if available).

2. Valid Tax Residency Certificate (TRC)/unique number from their country's tax authorities.

3. Form 41 in electronic format (declaring tax residency, beneficial ownership, and that income is not connected to a PE in India).

Alternatively, a certificate under Section 395(1) from Indian tax authorities for a lower/NIL rate can be submitted.

The company is not obligated to apply beneficial treaty rates and will do so only upon satisfactory review of complete documentation.

Important Procedural Notes

  • Documents submitted through any mode other than the specified RTA portal link will not be considered valid.
  • Incomplete, unsigned, or unverified forms will not be accepted.
  • The company's decision on TDS determination is final.
  • No communication regarding tax deduction received after October 23, 2026, will be entertained.
  • No claims shall lie against the company for taxes deducted.
  • Shareholders can claim a refund by filing their income tax return if tax is deducted at a higher rate.
  • TDS credit will be visible in Form 16B for shareholders with a valid PAN, downloadable from the e-filing portal.

Designated Points of Contact

All queries and communications are to be directed to the Registrar and Transfer Agent (RTA):

  • RTA: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
  • Dedicated Link: https://swayam.in.mpms.mufg.com/

Disclaimer

The communication is not tax advice, and shareholders should consult a tax professional.