Dividend Details

The Board of Directors recommended a dividend of ₹10 per equity share of ₹10 each (100%) for FY 2025-26 at their meeting held on May 29, 2026. This is subject to approval by shareholders at the 17th Annual General Meeting (AGM).

Key Dates

  • 17th Annual General Meeting: September 17, 2026 (Thursday)
  • Record Date: August 14, 2026 (Friday)
  • Dividend Payout Date: September 25, 2026 (Friday)
  • Last date to submit tax-related documents: August 14, 2026 (Friday)

TDS Provisions

As per the Income Tax Act, 2025, dividend income is taxable in the hands of shareholders, and the company is required to deduct tax at source (TDS) at the time of dividend payment if approved by shareholders.

Banking Details Requirement

SEBI regulations mandate electronic payment of dividends. Shareholders must update bank account details:

  • Demat holdings: Update with Depository Participant
  • Physical holdings: Update with MUFG Intime India Private Limited, Pune, along with PAN, mobile number, email ID, bank details, specimen signature, and nomination

TDS Rates and Documentation Requirements

For Resident Shareholders:

  • Individuals: TDS at 10% if valid PAN registered; 20% if no PAN/invalid PAN/PAN not linked with Aadhaar
  • No TDS if total dividend during TY 2026-27 does not exceed ₹10,000 or shareholder provides Form 121 meeting eligibility conditions
  • Exemption certificate from Income-tax Department also exempts from TDS

For Resident Non-Individual Shareholders:

  • Insurance Companies: No TDS with self-declaration qualifying as insurer under Insurance Act, 1938, plus PAN and IRDA registration
  • Mutual Funds: No TDS with self-declaration of SEBI registration, plus PAN and SEBI registration certificate
  • Alternative Investment Funds (AIF): Nil TDS with self-declaration of exemption under Schedule V and SEBI registration as Category I or II AIF
  • NPS Trust: No TDS with self-declaration qualifying as NPS trust with exemption under Schedule VII
  • Other non-individual shareholders: Applicable rates with supporting documentary evidence for exemption

For Non-Resident Shareholders:

  • Domestic Tax Law: 20% TDS (plus applicable surcharge and cess)
  • DTAA Option: Can avail beneficial rates by submitting:
  • PAN or tax identification number from country of residence (Annexure 3)
  • Tax Residency Certificate (TRC) for 2026-27 valid as on record date
  • Form 41 for TY 2026-27 from Income Tax portal
  • Treaty eligibility and beneficial ownership declaration (Annexure 4)
  • SEBI registration certificate for FIIs/FPIs
  • Additional documentation for Singapore tax residents regarding Article 24 limitation

Other Provisions

  • Lower withholding possible with certificate under Section 395 of the Act
  • Rule 203 benefit available for intermediaries/stock-brokers with declaration (Annexure 5) within 2 days from record date
  • Residential status must be correctly updated with DP/RTA by record date
  • Highest applicable TDS rate will be applied across all holdings linked to same PAN
  • TDS credit available in Form 168 via TRACES or e-filing portal
  • Refund claims possible through income tax return filing
  • Shareholders responsible for indemnifying company against any tax demands arising from inaccurate declarations

Submission Details

All required forms and documents for TY 2026-27 must be submitted:

  • Online: https://web.in.mpms.mufg.com/formsreg/submissionof-Form-121-41.html
  • Deadline: August 14, 2026
  • Incomplete/unsigned/late submissions will not be considered

Disclaimer

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

Enclosures

  • Annexure 2: Resident Tax Declaration
  • Annexure 3: Declaration under Rule 217
  • Annexure 4: Non-Resident Tax Declaration
  • Annexure 5: Declaration under Rule 203