Dividend Recommendation and Key Dates

The Board of Directors, at its meeting on May 14, 2026, recommended a Final Dividend of 5% (Rs. 0.05 per equity share of face value Re. 1) for the financial year ended March 31, 2026. This is subject to approval by shareholders at the 32nd Annual General Meeting (AGM).

The Register of Members and Share Transfer Books will be closed from Tuesday, September 15, 2026, to Monday, September 21, 2026 (both days inclusive).

The Record Date for determining eligibility to receive the dividend is Monday, September 14, 2026.

TDS Provisions

The communication outlines the company's obligation to deduct TDS on the dividend payment as per the Income-tax Act, 2025, effective April 1, 2026. The TDS rates and requirements differ for resident and non-resident shareholders.

For Resident Shareholders

  • TDS is generally deducted at 10% if a valid PAN is furnished.
  • TDS is generally deducted at 20% if PAN is not furnished, is invalid, or is inoperative.
  • No TDS is deducted if the total dividend payable to a resident individual shareholder does not exceed Rs. 10,000 per financial year.
  • No TDS is deducted for eligible shareholders (e.g., individuals above 60 years) upon submission of a duly filled Form 121 with a valid PAN.
  • Specific entities like Insurance Companies, RBI, specified Corporations, and Category I & II SEBI-registered AIFs are eligible for a Nil TDS rate upon submission of a declaration and supporting documents (e.g., IRDAI registration, SEBI registration, PAN).
  • Shareholders can also provide a certificate under Section 395 of the Act for a lower deduction rate.

For Non-Resident Shareholders

  • For FIIs/FPIs: TDS is deducted at 20% or the applicable tax treaty rate, whichever is lower.
  • For other non-residents: TDS is applicable per Section 393(2) read with Section 207 at 20% or the tax treaty rate, whichever is lower.
  • To claim a tax treaty benefit, non-resident shareholders must provide a self-attested copy of PAN (or a declaration of not having one), a self-attested and translated/notarized Tax Residency Certificate (TRC) for 2026-27, and a Form 41 generated from the Income Tax e-filing portal.
  • A self-declaration of no permanent establishment in India and of being the beneficial owner of the income is also required on company letterhead.
  • A certificate under Section 395 of the Act for lower/Nil withholding can also be submitted.

General Instructions and Deadlines

  • All required documents and forms (Form 121, Form 41, declarations, etc.) must be submitted to the Registrar and Transfer Agent, Bigshare Services Private Limited, on or before the Record Date, September 14, 2026.
  • Documents can be sent via email to tds@bigshareonline.com or to the RTA's registered office in Mumbai.
  • The company reserves the right to call for further information and apply domestic law/tax treaty provisions for TDS.
  • Shareholders are responsible for any tax demands arising from misrepresentation and must indemnify the company.
  • For joint holders, the first-named shareholder must furnish the requisite documents.
  • The dividend will be paid electronically after deducting TDS, and TDS certificates (Form 168) will be dispatched.
  • Shareholders must ensure their bank account and KYC details are updated with Bigshare Services Pvt. Ltd. (for physical shares) or their Depository Participant (for demat shares) to enable direct credit of the dividend.

Disclaimer

The company clarifies that this communication is not tax advice and shareholders should consult a tax professional.