Date: 23rd October, 2026

Dividend Declaration

  • Board declared interim dividend of ₹7.5 per equity share (75% of face value ₹10) for financial year 2026-27
  • Dividend declared at board meeting held on Wednesday, 21st October, 2026
  • Record date: Friday, 30th October, 2026
  • Payment will be made to shareholders holding equity shares in electronic or physical form as on record date

Tax Deduction at Source Procedures

For Resident Shareholders

  • TDS rate of 10% applies where shareholders have registered valid PAN
  • TDS rate of 20% applies if no PAN, invalid PAN, or PAN not linked with Aadhaar (under Section 397)

Resident Individual Exemptions

  • No TDS if total dividend during FY2026-27 does not exceed ₹10,000
  • No TDS if shareholder furnishes Form 121 (all fields mandatory)
  • No TDS if exemption certificate issued by Income-tax Department

Resident Non-Individual Exemptions

  • Insurance companies: Must provide self-declaration as insurer under Section 2(7A) of Insurance Act, 1938 with PAN and IRDA registration
  • Mutual Funds: Must provide SEBI registration proof and notification under Section 11 of Schedule VII
  • Alternative Investment Funds: Must declare exemption under Section 11 Schedule V and provide SEBI registration for Category I/II AIF
  • NPS Trust: Must qualify as NPS trust with exemption under Section 11 of Schedule VII
  • Other non-individuals: Must provide documentary evidence supporting exemption with PAN

For Non-Resident Shareholders

  • Standard withholding tax rate of 20% plus applicable surcharge and cess
  • Lower/nil withholding possible with certificate under Section 395
  • DTAA benefits available if more beneficial - requires:
  • PAN card copy or alternative details (name, email, contact, address, foreign tax ID)
  • Tax Residency Certificate for FY2026-27
  • E-filed Form 41 valid for April 2026 to March 2027
  • Self-declaration of treaty eligibility and beneficial ownership
  • SEBI registration certificate for FIIs/FPIs
  • Additional documentation for Singapore residents regarding Article 24 limitation

General TDS Provisions

  • Lower withholding certificates must specify Company TAN: MUMA20507E
  • Documents must be submitted by cut-off: Thursday, 29th October 2026
  • Documents can be uploaded at: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html by 7:00 PM IST
  • Post-cutoff submissions may not be accepted
  • Higher TDS rates apply for non-linkage of PAN with Aadhaar (Section 262)
  • Rule 203 declaration required if dividend income assessable in hands of person other than deductee
  • Multiple accounts under single PAN: highest applicable tax rate will be applied to entire holding

Payment and Compliance Requirements

  • Dividend payment subject to AGM approval
  • SEBI mandate requires electronic dividend payments for physical shareholders effective April 1, 2024
  • Physical shareholders must provide PAN, nomination choice, contact details, bank details, and specimen signature
  • Shareholders must ensure bank account details are updated in demat accounts/physical folios
  • Tax credit can be viewed in Form 168 on TRACES or Income Tax e-filing portal