Dividend Declaration Details

  • The Board of Directors declared an Interim Dividend of ₹8 per equity share (face value ₹2 each) for Financial Year 2026-2027 at its meeting held on October 30, 2026.
  • Record Date: November 5, 2026 (for determining shareholder eligibility)
  • Payment Date: On or after November 26, 2026

TDS Implementation Framework

Under Section 393(1)/393(2) of Income Tax Act, 2025, the company is mandated to deduct tax at source on dividend payments with effect from April 1, 2020.

Resident Shareholders TDS Rates:

  • Default Rate: 10% for residents with valid PAN
  • Exemption Conditions: No TDS if dividend income ≤ ₹10,000 during TY 2026-27 for resident individuals
  • Higher Rate: 20% for residents without PAN or with invalid PAN
  • NIL TDS Categories:
  • Residents submitting Form 121 (age ≥60 years or income below basic exemption limit)
  • Insurance companies (LIC, GIC, nationalized insurers) with documentary evidence
  • Corporations established by Central Act with tax exemption
  • Mutual Funds under Sch. VII(20) & (21)
  • Alternative Investment Funds (Category I/II AIF) with SEBI registration
  • NPS Trust with registration documents

Non-Resident Shareholders TDS Rates:

  • Default Rate: 20% (plus applicable surcharge and cess)
  • Treaty Rate: Lower tax treaty rates available upon submission of:
  • PAN copy (if allotted)
  • Valid Tax Residency Certificate (TRC)
  • Electronically filed Form 41
  • Self-declaration of no Permanent Establishment in India
  • Principle Purpose Test declaration (if applicable)
  • Beneficial ownership declaration
  • FIIs/FPIs must submit SEBI registration certificate

Documentation Requirements

All documents must be submitted to KFin Technologies Limited (RTA) by November 5, 2026 via:

  • Online portal: https://ris.kfintech.com/form15/

Compliance Notes

1. PAN Mandatory: Non-quoting of PAN attracts penalty of ₹10,000 under Section 467 of the Act

2. Aadhaar Linking: PAN becomes inoperative if not linked with Aadhaar, triggering 20% TDS rate

3. Multiple Holdings: Highest applicable tax rate considered across all holdings under single PAN

4. TDS Certificates: Company will issue Form 131 for TDS; credit verifiable through Form 168

5. Refund Claims: Excess TDS can be claimed only through income tax return filings

6. SEBI Compliance: Circular SEBI/HO/MIRSD/-PoD-1/P/CIR/2023/37 dated March 16, 2023 mandates PAN submission for physical shareholders

Financial Impact

  • Dividend outflow: ₹8 per share (exact total amount not quantified in disclosure)
  • TDS amounts will be paid to Central Government
  • No material financial impact on company's operations disclosed

Additional References

Circular No. 18/2017 dated May 29, 2017 referenced for TDS exemption of entities under Section 11.