Dividend Details

The Board of Directors at its meeting held on 15th May 2026 recommended a Final Dividend of ₹33 per equity share of face value ₹2 each for the financial year ended 31st March 2026. This dividend is subject to approval by shareholders at the Annual General Meeting scheduled for 24th August 2026.

Record Date and Payment

The dividend will be paid to shareholders holding equity shares as on the record date of 11th August 2026, either in electronic or physical form.

TDS Provisions for Resident Shareholders

  • TDS will be deducted under Section 393(1) [Table Sr. No. 7] of Income-tax Act, 2025 at 10% on dividend amount
  • No TDS for resident individual shareholders if aggregate dividend during financial year does not exceed ₹10,000 (Section 393(4) [Table Sr. No. 10])
  • Tax exemption available upon submission of Form 121 for eligible resident individuals
  • Mandatory PAN requirement for all shareholders
  • Lower/NIL TDS available for specific categories upon submission of self-declaration and supporting documents:
  • Insurance companies (with registration certificate and PAN)
  • Mutual Funds eligible for exemption u/s 11 – Schedule VII [Table Sr No. 20 and 21]
  • Alternative Investment Funds (Category I or II under SEBI regulations)
  • New Pension System Trust
  • Other shareholders with exemption evidence
  • Shareholders with valid certificate u/s. 395(1) for lower/nil deduction

TDS Provisions for Non-Resident Shareholders

  • TDS withheld under Section 393(2) [Table Sr No. 17 and 15] at 20% plus applicable surcharge and cess
  • DTAA benefits available upon submission of:
  • PAN card (if allotted)
  • Valid Tax Residency Certificate for FY 2026-27
  • Form 41 filed electronically and valid for FY 2026-27
  • Self-declaration meeting DTAA eligibility and beneficial ownership requirements
  • SEBI registration certificate for FPIs
  • Additional documentation for Singapore tax residents regarding Article 24 limitation

PAN-Aadhaar Linking Requirement

As per Section 262 of Income Tax Act, PAN must be linked with Aadhaar. Failure will result in PAN being deemed invalid/inoperative and TDS deduction at 20% under section 397.

TDS Summary Rates

  • NIL: Resident shareholders receiving dividend ≤ ₹10,000 or submitting Form 121 with PAN
  • 10%: Other resident shareholders with PAN provided
  • 20%: Resident shareholders without PAN or unlinked PAN-Aadhaar
  • DTAA rates: For non-residents based on submitted documents
  • 20% plus surcharge/cess: Non-residents without proper documentation
  • Lower/NIL: With valid certificate u/s 395(1)

Additional Requirements

  • Rule 203 declaration required if dividend income assessable in hands of person other than deductee
  • Shareholders responsible for indemnifying company against any tax demands from misrepresentation
  • No claims against company for taxes deducted
  • TDS credit visible in Form 168 for shareholders with valid PAN

Documentation Deadline

All required documents must be uploaded to MUFG Intime India Private Limited (RTA) by 10th August 2026 at https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html

KYC and Payment Mode Requirements

  • SEBI Master Circular No. HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 dated February 06, 2026 mandates:
  • Physical shareholders must record PAN, address with PIN, mobile number, bank details, specimen signature, and nomination
  • Dividend payments to physical shareholders only through electronic mode effective 1st April 2024
  • Payment contingent upon folio being KYC compliant

Disclaimer

The communication is not tax advice, and shareholders should consult tax professionals for their tax matters.