Date: July 20, 2026

Dividend Declaration

  • The Board of Directors at its meeting held on May 22, 2026 recommended a Final Dividend of ₹1 per Equity Share of Face Value of ₹10 each for the Financial Year ended March 31, 2026.
  • The dividend is subject to shareholders' approval at the 44th Annual General Meeting scheduled to be held on August 22, 2026 through Video Conferencing/Other Audio-Visual Means.
  • Record date fixed to determine eligible members: Friday, August 14, 2026.
  • Final dividend payment date: On or before August 28, 2026.

TDS Compliance Requirements

  • Dividend declared and paid/distributed shall be taxable in the hands of shareholders as per Income-tax Act, 2025 and Finance Act, 2026.
  • Company is required to deduct TDS at the time of payment to shareholders.
  • Withholding tax rate varies depending on residential status of shareholder and documents submitted.
  • Last date for submission of documents for TDS deduction purpose: August 10, 2026.
  • Shareholders must update their PAN with RTA (physical shares) or Depositories/Depository Participants (demat shares).
  • PAN must be linked with Aadhaar and remain operative to avoid higher TDS deduction under Section 397(2) of Income Tax Act, 2025.

Payment Method Update

  • Pursuant to SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2025 notified on November 18, 2025, payable-at-par warrants/cheques/Demand drafts shall not be issued for dividend payment.
  • Shareholders must update bank account details prior to record date (August 14, 2026) to avoid delayed payment.

Document Submission Instructions

  • Necessary documents (Form No. 121, documents under section 393, FPI Registration Certificate, Tax Residency Certificate, Lower/Nil Tax deduction certificate, etc.) must be submitted to Company's RTA by uploading on: https://web.in.mpms.mufg.com/formsreg/submissionof-Form-121-41.html
  • Documents submitted after timeline intimated for final dividend will not be considered.
  • All queries/grievances/issues to be addressed at: investor.helpdesk@in.mpms.mufg.com

TDS Application Rules

  • TDS rate application subject to verification as per details available in Register of Members on Record Date.
  • Company's RTA shall verify all documents submitted by shareholders to assess applicable tax rate.
  • Beneficial Tax Treaty rates will not automatically apply - depends on completeness and satisfactory review of documents.
  • In case of ambiguity in law/interpretation, highest applicable tax withholding rate shall be considered conservatively.
  • Company reserves right not to consider tax treaty rates if documents are incomplete.
  • Shareholders can claim refund of excess tax deducted when filing income tax return if higher rate applied.

Additional Important Notes

  • Shareholders holding shares in multiple accounts under different statuses/categories with single PAN: higher tax applicable to status will be considered on entire holding.
  • SEBI Master Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/91 dated June 23, 2025 mandates physical shareholders to furnish/update PAN, contact details, bank account details and specimen signature with RTA.
  • Physical shareholders without these details shall receive dividend only through electronic mode after updating prescribed details.
  • Shareholders are solely responsible for any income tax demand arising from misrepresentation, inaccuracy or omission of information provided.
  • This communication is not exhaustive and shareholders should consult their tax advisors.