Date: June 19, 2026

Dividend Declaration

Final Dividend of ₹6.5 per equity share of ₹2 each (325%) for Financial Year 2025-26, recommended by the Board of Directors at their meeting held on Thursday, May 07, 2026. The dividend is subject to approval of shareholders at the forthcoming Annual General Meeting.

Key Dates

  • Annual General Meeting: Tuesday, August 11, 2026
  • Dividend Payout Date: Friday, August 14, 2026
  • Record Date: Friday, July 03, 2026
  • Last date to submit tax related documents: Friday, July 03, 2026

TDS Procedures for Shareholders

For All Shareholders - Bank Details Update

SEBI regulations mandate electronic payment of dividends. Shareholders must update bank account details:

  • For demat holdings: Update with Depository Participant
  • For physical holdings: Update with MUFG Intime India Private Limited, C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, along with PAN, mobile number, email ID, bank details, specimen signature, and nomination

For Resident Shareholders

Individuals:

  • TDS at 10% if valid PAN registered
  • TDS at 20% if no PAN/invalid PAN/PAN not linked with Aadhaar
  • No TDS if total dividend during Tax Year 2026-27 does not exceed ₹10,000
  • No TDS if Shareholder provides Form 121 (all fields mandatory)

Other Resident Entities (Require submission of Annexure 2 - Resident Tax Declaration):

  • Insurance Companies: Nil TDS with self-declaration of qualification as 'Insurer' under Insurance Act, 1938, PAN, and IRDA registration
  • Mutual Funds: Nil TDS with self-declaration of SEBI registration, PAN, and SEBI registration certificate
  • Alternative Investment Fund (AIF): Nil TDS with self-declaration of exemption under Schedule V, SEBI registration as Category I or II AIF, PAN, and AIF registration certificate
  • New Pension System (NPS) Trust: Nil TDS with self-declaration of qualification as NPS trust, exemption eligibility under Schedule VII, and PAN
  • Other non-Individual shareholders: Applicable rates with self-attested documentary evidence supporting exemption and PAN

For Non-Resident Shareholders

As per Domestic Tax Law: 20% TDS (plus applicable surcharge and cess)

As per DTAA: Option to avail beneficial rates by submitting:

  • Self-attested copy of PAN or Annexure 3 - Declaration Under Rule 217
  • Self-attested copy of Tax Residency Certificate (TRC) for 2026-27/calendar year 2026
  • Self-declaration in Form 41 for Tax Year 2026-27 from Income tax portal
  • Annexure 4 - Non-Resident Tax Declaration (for treaty benefit)
  • SEBI registration certificate (for FIIs/FPIs)
  • Additional documentation for Singapore tax residents regarding Article 24 - Limitation of Relief

Other TDS Provisions

  • Lower withholding as per Certificate under Section 395 of Income Tax Act
  • Benefit under Rule 203 for intermediaries/stock-brokers with declaration in Annexure 5 within 2 days from record date
  • Residential status must be correctly updated with DP/RTA
  • Highest applicable TDS rate will be applied across all holdings linked to same PAN

Important Deadlines

  • Requests for updates in PAN or Residential Status: Not accepted after Record Date (Friday, July 03, 2026)
  • Tax-related documents submission: On or before Friday, July 03, 2026
  • Rule 203 declarations: Within 2 days from record date

TDS Certificate and Refund

  • Tax credit viewable in Form 168 at TRACES portal or Income Tax e-filing website
  • TDS certificates emailed to shareholders after filing of TDS return
  • Refund claims through Income Tax Return filing
  • Shareholders indemnify Company against any income tax demands arising from declaration inaccuracies

Submission Process

Required forms and documents for Tax Year 2026-27 must be submitted:

  • Via RTA's website: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Via email: tdsforms@bharatforge.com
  • Incomplete/unsigned forms or submissions after July 03, 2026 will not be considered

Annexures Available

  • Annexure 1 - Form 121
  • Annexure 2 - Resident Tax Declaration
  • Annexure 3 - Declaration under Rule 217
  • Annexure 4 - Non-Resident Tax Declaration
  • Annexure 5 - Declaration under Rule 203