Date: 10th June, 2026

Dividend Declaration

  • The Board of Directors recommended a final dividend of ₹23.00 per equity share (230%) of face value ₹10 each for FY 2025-26.
  • Dividend payment is subject to approval by shareholders at the 73rd Annual General Meeting scheduled for Thursday, 23rd July, 2026.
  • Record date for determining eligible shareholders is Thursday, 16th July, 2026.
  • Dividend will be paid to shareholders holding shares in electronic or physical form as on the record date.

Tax Deduction at Source (TDS) Provisions

For Resident Shareholders

  • TDS rate of 10% applies under Section 393(1) read with Section 393(4) of Income Tax Act, 2025 for shareholders with valid PAN.
  • TDS rate of 20% applies under Section 397 for shareholders without PAN, invalid PAN, or inoperative PAN due to non-linking with Aadhaar.
  • No TDS for resident individuals if total dividend during FY 2026-27 does not exceed ₹10,000 or if they furnish Form 121 meeting all eligibility conditions.
  • Specific exemptions available for resident non-individuals including insurance companies, mutual funds, AIFs, NPS Trust upon submission of required declarations and documents (as per Annexure 2).

For Non-Resident Shareholders

  • Withholding tax rate of 20% (plus applicable surcharge and cess) under Section 393(2) of the Act.
  • Option to avail beneficial rates under Double Tax Avoidance Agreement (DTAA) upon submission of:
  • PAN card copy or alternative details (name, email, contact, address, foreign TIN)
  • Tax Residency Certificate (TRC) for FY 2026-27
  • E-filed Form 41 valid for April 2026-March 2027
  • Self-declaration of treaty eligibility and beneficial ownership
  • SEBI registration certificate for FIIs/FPIs
  • Additional documentation for Singapore tax residents regarding Article 24 limitation

General TDS Provisions

  • Lower/nil withholding possible with certificate under Section 395 of the Act submitted on company's TAN: MUMA20507E.
  • Higher TDS rate applies if PAN not linked with Aadhaar as per Section 262 of Income Tax Act.
  • Declaration required under Rule 203 of Income-tax Rules, 2026 if dividend income assessable by person other than deductee.
  • For multiple accounts under different status categories, highest applicable tax rate will be applied across all holdings under single PAN.

Submission Deadlines and Process

  • All tax-related documents (Form 121, Section 393(5) documents, etc.) must be submitted by Friday, 3rd July, 2026, 7:00 PM IST.
  • Documents can be uploaded at: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Documents submitted after cutoff may not be accepted for TDS rate determination.
  • Shareholders can claim refunds through income tax returns if higher TDS is deducted.

Payment and Banking Details

  • Dividend will be paid after AGM approval and TDS deduction.
  • Shareholders must ensure updated bank account details in demat accounts/physical folios for direct credit.
  • Physical shareholders must provide PAN, nomination details, contact information, bank details, and specimen signature as mandated by SEBI circulars for electronic dividend payment.

Additional Information

  • The communication was sent to all shareholders whose email IDs are registered with Company/RTA/Depositories.
  • All annexures (Form 121, resident shareholder declaration, non-resident declaration, Rule 203 format) are available on company website: http://adorwelding.com/events-2/
  • Tax credit can be viewed in Form 168 through TRACES portal or Income Tax e-filing website.