Dividend Recommendation and Key Dates

The Board of Directors, at its meeting held on May 4, 2026, recommended a dividend of ₹10 (200%) per equity share of face value ₹5 each for FY ended March 31, 2026.

The record date for determining entitlement is fixed as Tuesday, July 28, 2026.

The dividend, if approved by members at the forthcoming Annual General Meeting (AGM) scheduled for Tuesday, August 4, 2026, will be paid within 30 days from the AGM date.

TDS Applicability and Shareholder Requirements

As per the Income-tax Act, 2025, dividend income is taxable in the hands of shareholders, and the company is required to deduct TDS at applicable rates.

All shareholders must ensure their details (PAN, residential status, shareholder category, email, address, bank mandate) are updated in their demat accounts with Depository Participants by the record date (July 28, 2026).

SEBI mandates dividend payment only through electronic mode. Dividends will be withheld if bank details are inadequate or not registered for electronic remittance.

Shareholders holding physical shares must register their PAN, nomination, contact details, mobile number, bank account details, and specimen signature with the Company/Registrar and Transfer Agent (RTA), KFin Technologies Limited.

Detailed TDS Provisions

I. For Resident Shareholders
  • General Rate: 10% TDS under Section 393(1) if valid PAN is registered.
  • Higher Rate: 20% TDS under Section 397(2) if no PAN, invalid PAN, or PAN not linked with Aadhaar.
  • Exemptions for Resident Individuals:
  • No TDS if total dividend from the company during Tax Year 2026-27 does not exceed ₹10,000 (Section 393(4)).
  • Submission of Form 121 (if eligibility conditions met).
  • Exemption certificate from Income-tax Department.
  • Resident Non-Individuals: Detailed exemption criteria and required documents are provided for various entities including Mutual Funds, Recognized Provident Funds, Approved Superannuation/Gratuity Funds, National Pension Scheme, entities exempt under Schedule VII, and corporations exempt from income-tax. TDS rates vary from NIL to 20% based on documentation provided.
  • Rule 203 Declaration: Required if dividend income is assessable in the hands of a person other than the registered shareholder. Must be furnished by July 28, 2026.
II. For Non-Resident Shareholders
  • General Rate: 20% TDS (plus applicable surcharge and cess) under Section 393(2), unless exempt under DTAA provisions.
  • DTAA Benefits: Lower treaty rates can be applied if the non-resident shareholder provides:
  • Copy of PAN (if available).
  • Self-attested copy of Tax Residency Certificate (TRC).
  • Form 41 filed electronically.
  • Self-declaration of no taxable presence in India and beneficial ownership.
  • If PAN is unavailable, alternative details (name, email, contact, address, TRC, TIN of residency country) must be provided.
  • For FIIs/FPIs, a copy of SEBI registration certificate is additionally required.
  • Application of DTAA rates is at the company's sole discretion based on document completeness.
III. PAN-Aadhaar Linking

As per Section 262 of the Act, PAN becomes invalid/inoperative if not linked with Aadhaar, resulting in TDS deduction at 20% under Section 397(2).

IV. Multiple Accounts

For shareholders with multiple accounts under different statuses/categories but a single PAN, the higher applicable tax rate will be applied to the entire holding.

V. Submission of Documents
  • Deadline: All relevant tax documents (Form 121, registration certificates, declarations, etc.) must be submitted on or before Tuesday, July 28, 2026. No requests will be accepted after this date.
  • Submission Methods:
  • Resident shareholders can upload documents via a provided link or email to einward.ris@kfintech.com.
  • Non-resident shareholders must email documents to einward.ris@kfintech.com.
  • Resident Non-Individual and Non-Resident Non-Individual members may submit through custodians registered with NSDL for tax services.
  • Incomplete/unsigned forms will not be considered for exemption.

Additional Notes and Disclaimers

  • All tax rates are subject to enhancement by applicable surcharge and cess.
  • Shareholders can claim refunds via income tax returns if higher TDS is deducted due to lack of documentation.
  • TDS credit can be viewed in Form 26AS on the Income Tax department's e-filing website.
  • Self-attested documents must be marked "certified true copy of the original".
  • The communication is a summary and not exhaustive; shareholders should consult their tax advisors.
  • Soft copies of TDS certificates will be emailed post-dividend payment.
  • Shareholders are responsible for indemnifying the company against any tax demands arising from misrepresentation.
  • The company will deduct TDS based on records available with RTA; no revision requests will be entertained.