Dividend Recommendation

  • Board of Directors recommended final dividend of ₹120 per fully paid-up equity share of face value ₹10 each (1200%) for FY ended March 31, 2026
  • Recommendation made at Board Meeting held on May 22, 2026
  • Dividend subject to approval at 110th Annual General Meeting scheduled for Thursday, August 20, 2026

Key Dates

  • Record Date: Wednesday, August 12, 2026 (for determining eligibility)
  • AGM Date: Thursday, August 20, 2026
  • Payment Date: After August 21, 2026 (as per prescribed timelines)

TDS Requirements

Under Income Tax Act, 2025 (as amended by Finance Act, 2026):

  • Dividend income taxable in hands of shareholders
  • Company required to deduct tax at source at prescribed rates
  • Higher rate of tax (20%) applicable if recipient fails to furnish PAN
  • PAN considered inoperative if Aadhar not linked within prescribed timelines

Shareholder Documentation Requirements

Shareholders must update following details through depository participant (demat) or RTA (physical) by August 12, 2026:

1. Residential status (Resident or Non-Resident for Tax Year 2026-27)

2. Valid PAN (if allotted)

3. Category of shareholder

4. Email Address

5. Residential Address with Postal Code (including country)

TDS Rate Summary

Resident Shareholders:

  • Mutual Funds (SEBI registered): Nil TDS under Section 393(5)(d)
  • Government: Nil TDS under Section 393(5)(a)
  • Category I & II AIF (SEBI registered): Nil TDS under Sections 393(1)[Table Sr. No. 7], 393(4)[Table Sr. No. 10]
  • Category III AIF IFSC: 10% TDS under Section 393(2)[Table Sr. No. 16] plus surcharge and 4% cess
  • National Pension System Trust: Nil TDS under Section 393(9)
  • Insurance companies (IRDAI registered): Nil TDS under Section 393(4)[Table Sr. No. 10]
  • Resident Individuals: Nil TDS under Section 393(4)[Table Sr. No. 10] if aggregate dividend ≤ ₹10,000 during Tax Year 2026-27 or valid Form 121 submitted
  • Eligible resident shareholders: Rate as per lower deduction certificate under Section 395
  • Other resident shareholders: 10% TDS under Section 393(1)[Table Sr. No. 7] if valid PAN provided; 20% if no PAN/invalid PAN under Section 397(2)

Non-Resident Shareholders:

  • Institutional Investors/Foreign Portfolio Investors: Rates as per respective slabs plus surcharge and 4% cess under Section 393(2)[Table Sr. No. 15]
  • Other non-resident shareholders: 20% TDS under Section 393(2)[Table Sr. No. 17] plus surcharge and 4% cess
  • Category III AIF IFSC: 10% TDS under Section 393(2)[Table Sr. No. 16] plus surcharge and 4% cess
  • All non-resident shareholders: Rate as per lower deduction certificate under Section 395

Documentation for Lower TDS Rates

Non-resident shareholders claiming lower DTAA rates must submit:

1. Copy of valid PAN (or details in Annexure 2 format if PAN not available)

2. Copy of TRC of country of residence valid for Tax Year 2026-27

3. Self-declaration in Form 41 (filed online)

4. Self-declaration of no Permanent Establishment in India, beneficial ownership, and treaty eligibility

Payment Mode Requirements

  • Dividend payment exclusively through electronic mode per SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2025 notified November 19, 2025
  • Physical shareholders must update KYC details (valid PAN, contact details, bank account details, specimen signature)
  • Dividend withheld if KYC details not updated in physical folios or bank details not updated in demat holdings

Additional Provisions

  • PAN-Aadhar linking mandatory under Section 262 of IT Act, 2025 read with Rule 158 of IT Rules 2026
  • Highest TDS rate applicable across multiple demat accounts/physical folios under single PAN
  • TDS credit available in Form 168 for shareholders with valid PAN
  • Rule 203 of Income Tax Rules, 2026 allows TDS credit transfer with prescribed declaration

Submission Deadline

All exemption forms and documents must be submitted to MUFG Intime India Private Limited by Wednesday, August 12, 2026 (5:00 p.m. IST)

Registrar and Share Transfer Agent

MUFG Intime India Private Limited

C-101, 1st Floor, Embassy 247, L.B.S. Marg, Vikhroli (West) Mumbai – 400083