Company and Document Details

Dividend Details

The Board of Directors at its meeting held on 27 April 2026 recommended payment of dividend of Rs. 7 per equity share of Rs 2 each for the year ended 31 March 2026. The dividend is subject to approval by members at the 66th Annual General Meeting scheduled to be held on Tuesday, 22 September 2026 at 12.30 P.M. (IST) through Video Conferencing or Other Audio-Visual Means.

Record Date and Payment Timeline

The Register of Members and Share Transfer Books will remain closed from Wednesday, 16 September 2026 to Tuesday, 22 September 2026 (both days inclusive) for determining eligibility for dividend payment. Payment will be made to members whose names are on the Company's Register of Members on Tuesday, 15 September 2026 and to beneficial owners as per details furnished by NSDL and CDSL.

Regulatory Framework

The communication is based on Income Tax Act, 2025 as amended by Finance Act, 2026, effective from 1 April 2026, which makes dividend taxable in the hands of members. The company is required to deduct TDS at prescribed rates.

SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated 3 November 2021 (with subsequent amendments) mandates that dividend payments to physical shareholders shall be made only through electronic mode effective 1 April 2024, requiring PAN, nomination choice, contact details, mobile number, bank account details, and specimen signature.

Documentation Requirements for Shareholders

Members must update KYC details with the Company's Registrar and Transfer Agents, M/s. Maheshwari Datamatics Pvt. Ltd., 23 R.N. Mukherjee Road, 5th Floor, Kolkata-700001. Physical shareholders must send duly completed ISR 1, ISR 2 and Choice of nomination with signature attested by banker along with cancelled cheque leaf. Demat shareholders must keep bank details updated with their depository participants.

TDS Provisions for Resident Members

  • No TDS if dividend does not exceed Rs. 10,000 during the tax year
  • 10% TDS with valid PAN (exceeding Rs. 10,000) under section 393(1)
  • 20% TDS without PAN/invalid PAN under section 397(2)
  • 20% TDS for non-linking of PAN and Aadhaar
  • NIL TDS by submitting Form 121 (for individuals 60 years and older meeting conditions)
  • Certificate rate by submitting valid certificate under Section 395
  • NIL TDS for Mutual Funds under Section 393(5) with self-declaration
  • NIL TDS for Insurance Companies exempted under Section 393(4) with self-declaration
  • NIL TDS for Alternative Investment Funds with specific documentation
  • NIL TDS for New Pension System Trust with self-declaration
  • NIL TDS for other exempted entities with supporting documentary evidence

TDS Provisions for Non-Resident Members

  • 20% TDS (plus surcharge and cess) for general non-resident members
  • 20% TDS (plus surcharge and cess) for FIIs/FPIs with SEBI registration certificate
  • 20% or Tax Treaty Rate (whichever less) for other non-residents opting for DTAA benefits, requiring extensive documentation including PAN, TRC, Form 41, self-declaration
  • Certificate rate by submitting certificate under Section 393/395
  • 30% TDS (plus surcharge and cess) for shareholders from Notified Jurisdictional Area under Section 176

Critical Deadlines

All documentation must be submitted by Tuesday, 15 September 2026 through the designated links (https://mdpl.in/login). All links will be disabled after 23:59 hours on Tuesday, 15 September 2026.

Additional Important Information

  • Members holding shares under multiple accounts with single PAN will be taxed at the highest applicable rate across all holdings
  • Scanned copies of tax relief documents are accepted but must be self-attested as "certified true copy of the original"
  • Company reserves right to reject documents in case of discrepancies or incompleteness
  • For joint shareholders, the first-named shareholder must furnish requisite documents
  • Physical submissions via post, courier or hand delivery are also accepted
  • Documents must be submitted once per tax year (April 2026-March 2027) unless status changes
  • Shareholders must submit documents afresh even if similar documents were submitted earlier
  • Company is not obligated to apply beneficial DTAA rates and makes determination based on document review
  • No claims shall lie against the Company for taxes deducted at higher rates
  • Shareholders are responsible for any income tax demands arising from misrepresentation or omission