Dividend Recommendation

The Board of Directors at its meeting held on May 25, 2026 recommended payment of dividend of ₹2 per equity share of ₹10 each for the year ended March 31, 2026. This is subject to approval of members at the 29th Annual General Meeting scheduled for August 19, 2026.

Payment Timeline

If approved, the dividend will be paid on or after August 25, 2026.

Regulatory Basis

Under the Income-tax Act, 2025 as amended by the Finance Act, 2026 (effective April 1, 2026), dividend declared and paid by the Company is taxable in the hands of shareholders, requiring TDS deduction at prescribed rates.

Shareholder Documentation Requirements

  • Physical Shareholders: Must update KYC details with RTA Maheshwari Datamatics Pvt. Ltd. including PAN, nomination choice, contact details, mobile number, bank account details, and specimen signature
  • Demat Shareholders: Must keep bank details updated with their depository participants
  • PAN Requirement: Mandatory for all shareholders - invalid PAN will result in 20% TDS deduction
  • Aadhaar Linking: Must be linked with PAN as per prescribed timelines to avoid 20% TDS rate

TDS Rates for Resident Members

  • Up to ₹10,000 dividend: No TDS
  • Above ₹10,000 with PAN: 10%
  • Without PAN/Invalid PAN: 20%
  • Non-linking of PAN-Aadhaar: 20%
  • Form 12B submission: NIL (for individuals 61+ years meeting conditions)
  • Section 395 Order: Rate as per order
  • Mutual Funds: NIL (with self-declaration)
  • Insurance Companies: NIL (with self-declaration)
  • Alternative Investment Funds: NIL (with documentary evidence)
  • NPS Trust: NIL (with self-declaration)
  • Other exempt entities: NIL (with supporting documentation)

TDS Rates for Non-Resident Members

  • Default rate: 20% plus applicable surcharge and cess
  • FIIs/FPIs: 20% plus applicable surcharge and cess (not reducable under DTAA)
  • Other NR shareholders: 20% or DTAA rate (whichever is lower)
  • Section 197 Order: Rate as per order

Documentation Requirements for Non-Residents Claiming DTAA Benefits

1. Copy of Indian PAN

2. Tax Residency Certificate (TRC) for FY 2026-27

3. Form 10F duly filled and signed

4. Self-declaration covering: tax residency status, DTAA eligibility, ultimate beneficial ownership, and no permanent establishment in India

5. Additional requirements for Singapore residents: letter from competent authority regarding Article 24 limitation

Submission Deadlines and Procedures

  • All tax relief documents must be submitted through specified online portals (https://mdpl.in)
  • Submission window: From communication date until August 11, 2026 at 23:59 hours
  • Documents submitted via email or hand delivery will not be considered
  • Documents must be submitted fresh for FY 2026-27 even if submitted previously
  • Joint shareholders: First-named shareholder must furnish documents

Additional Provisions

  • For multiple accounts under single PAN: Highest applicable tax rate will apply to entire holding
  • TDS certificates will be emailed to registered email IDs post dividend payment
  • TDS credit will appear in Form 26AS available from income tax e-filing portal
  • Company will deduct TDS based on records from depositories (demat) or RTA (physical)
  • No requests for TDS return revision will be entertained
  • Shareholders may claim refunds while filing income tax returns if eligible

Disclaimer

The communication summarizes tax provisions and does not constitute complete tax analysis. Shareholders should consult their own tax advisors.