Date: 6th July, 2026 (Letter to Exchange), 1st July, 2026 (Shareholder Communication)
Dividend Declaration
- The Board of Directors, at their meeting held on 15th May 2026, recommended payment of a final dividend of ₹4.50 per equity share for the Financial Year ended 31st March 2026.
- This dividend payment is subject to approval by shareholders at the ensuing Annual General Meeting (AGM).
Tax Deduction Framework
Pursuant to the Income-tax Act, 1961 (the "IT Act"), the company outlined the tax deduction at source (TDS) framework applicable to the dividend payment for Financial Year 2025-26 (Tax Year 2026-27).
A. Resident Shareholders
A.1 Standard Deduction (No Exemption Sought)
- Withholding tax rate of 10% applies if a valid PAN is updated with the Depository Participant (dematerialized shares) or RTA (physical shares).
A.2 Nil TDS Scenarios (Upon Submission of Documents)
- Individual with dividend income > ₹10,000: Must furnish Form 121 and copy of PAN card.
- Entities where section 393(1) does not apply (e.g., LIC, GIC, Business Trusts): Require self-declaration (Annexure-1) and documentary evidence.
- Entities covered u/s 393(5) (e.g., Government, RBI, specific Mutual Funds): Require self-declaration (Annexure-1) and documentary evidence.
- Category I & II Alternative Investment Funds (AIFs): Require self-declaration (Annexure-1) that their income is exempt under Schedule V to Section 11.
- Other entities exempt u/s 393(6): Require self-declaration (Annexure-1 & 2) and documentary evidence.
- No tax will be deducted for resident individual shareholders if the total dividend paid during TY 2026-27 does not exceed ₹10,000.
B. Non-Resident Shareholders
1. FPIs/FIIs: Tax deductible at 20% (plus surcharge and cess) or beneficial tax treaty rate. Requires Tax Residency Certificate (TRC), digital Form 41, and copy of PAN (if available).
2. Category III AIFs in IFSC: Tax deductible at 10% (plus surcharge and cess). Requires self-declaration (Annexure-4) and documentary evidence.
3. Other Non-Residents (except from Notified Jurisdictional Area): Tax deductible at 20% (plus surcharge and cess) or beneficial tax treaty rate. Requires TRC, Form 41, self-declaration for non-existence of PE in India (Annexure-3), and specific documents for Singapore residents.
4. Residents of Notified Jurisdictional Area (u/s 176(1)): Flat tax rate of 30% applies.
5. Notified Sovereign Wealth/Pension Funds: Nil tax deduction. Requires CBDT notification and self-declaration (Annexure-5 & 6).
6. Subsidiary of ADIA: Nil tax deduction. Requires self-declaration (Annexure-7).
7. Lower/NIL Tax Certificate Holders (u/s 395(1)): Rate as specified in the certificate obtained from the Income Tax Department.
General Provisions & Deadlines
- Higher Rate Application: If PAN is not updated/available or required declarations are not provided, tax will be deducted at a higher rate as per section 397(2) of the Act.
- PAN-Aadhaar Linking: PAN must be linked with Aadhaar as per Section 262. Failure will render PAN invalid, and tax will be deducted at 20%.
- Document Submission Deadline: All required documents (Form 121, TRC, Form 41, declarations, etc.) must be uploaded via the RTA's portal (https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html) on or before 31st July 2026. Documents received after this date will not be considered.
- TDS Certificate: A soft copy of the TDS certificate will be issued via email post-dividend payment. Tax credit statements can be downloaded from the Income Tax e-filing portal (Form 168).
- Indemnity: Shareholders are responsible for indemnifying the company against any tax demands arising from misrepresentation or omission in provided information.
Registrar & Share Transfer Agent (RTA)
- The company's RTA is MUFG Intime India Private Limited (Formerly Link Intime India Private Limited).
- Shareholders must update KYC details (PAN, email, address, mobile, bank account) with the RTA or their Depository Participant.
- All queries are to be directed to the RTA at investor.helpdesk@in.mpms.mufg.com.