Date: 05th November 2026

Dividend Declaration

  • Board declared interim dividend of ₹10 per equity share (face value ₹2 each) for financial year ending 31st March 2027
  • Record date: 12th November 2026
  • Dividend payable to shareholders holding equity shares in electronic or physical form as on record date

TDS Procedures for Resident Shareholders

  • TDS @10% under Section 393(1) [Table Sr. No. 7] of Income-tax Act 2025 unless exempt
  • No TDS for resident individual shareholders if aggregate dividend during FY doesn't exceed ₹10,000 (Section 393(4) [Table Sr. No. 10])
  • Form 121 required for exemption claims (all fields mandatory)
  • Valid PAN mandatory for all shareholders
  • NIL/lower TDS available for specific categories upon submission of self-declaration and documentation:
  • Insurance companies: Declaration that Section 393(4) [Table Sr. No. 10] not applicable + registration certificate + PAN
  • Mutual Funds: Declaration eligible for exemption u/s 11 – Schedule VII [Table Sr No. 20 and 21] + registration documents + PAN
  • Alternative Investment Fund (AIF): Declaration eligible for exemption u/s 11 - Schedule V (Table: SI. No. 1) + Category I/II SEBI registration + PAN
  • New Pension System Trust: Declaration + exemption evidence + PAN
  • Other shareholders: Declaration + exemption evidence + PAN
  • Shareholders with valid certificate u/s. 395(1) for lower/nil deduction

TDS Procedures for Non-Resident Shareholders (including FPIs)

  • TDS @20% plus applicable surcharge and cess under Section 393(2) [Table Sr No. 17 and 15]
  • DTAA benefits available if more beneficial
  • Required documents for DTAA benefits:
  • Self-attested PAN copy (if allotted)
  • Valid Tax Residency Certificate (TRC) for FY 2026-27
  • Form 41 filed electronically (valid for FY 2026-27)
  • Self-declaration of DTAA eligibility and beneficial ownership
  • SEBI registration certificate for FPIs
  • Additional evidence for Singapore tax residents regarding Article 24 - Limitation of Relief

PAN-Aadhaar Linking Requirements

  • TDS @20% if PAN not linked with Aadhaar as per Section 262 and Section 397
  • Company will use Income-tax department functionality to verify status

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/not available/PAN-Aadhaar not linked
  • DTAA rates: For non-residents based on submitted documents
  • 20% plus surcharge/cess: Non-residents without required documents
  • Lower/NIL: With valid certificate u/s 395(1)

Additional Provisions

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

Documentation Deadline and Submission

  • All documents must be uploaded by 12th November 2026
  • Submission portal: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Registrar and Transfer Agent: MUFG Intime India Private Limited
  • Physical shareholders must update PAN, address with PIN, mobile number, bank details, specimen signature, nomination
  • For joint shareholders, first-named shareholder must submit documents

SEBI Mandates

  • Master Circular No. HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 dated February 06, 2026
  • Dividend payment only through electronic mode for physical shareholders from 1st April 2024
  • Requires KYC compliance: PAN, contact details, bank account details, specimen signature

Available Document Downloads

  • FORM-121
  • Declaration category shareholder
  • Declaration Tax Residency
  • Declaration Rule 203
  • Appendix A for Rule 203

Disclaimer

  • Communication not treated as tax advice from Company
  • Shareholders should obtain professional tax advice