Dividend Declaration Details

The Board of Directors recommended a dividend of ₹0.35 per equity share (face value ₹10 each) for the year ended March 31, 2026, at its meeting held on May 26, 2026. The dividend will be paid after declaration at the Annual General Meeting scheduled for September 23, 2026.

Record Date and Closure Period

The Register of Members and Share Transfer Books will remain closed from September 17, 2026 to September 23, 2026 (both days inclusive). Eligibility for dividend payment will be determined based on members registered in the Company's Register of Members or as Beneficial Owners with depositories as of the close of business on September 16, 2026.

SEBI Mandate for Electronic Payment

SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2021/655 dated November 3, 2021 (with subsequent amendments) mandates that from April 1, 2024, dividend payments to physical shareholders must be made only through electronic mode. This requires shareholders to furnish PAN, nomination choice, contact details including mobile number, bank account details, and specimen signature. Dividend will be withheld if KYC details are not updated with the Registrar and Transfer Agent, Maheshwari Datamatics Pvt. Ltd.

TDS Provisions Summary

For Resident Members:

  • No TDS if dividend does not exceed ₹10,000 annually
  • 10% TDS with valid PAN (for amounts exceeding ₹10,000)
  • 20% TDS without PAN/invalid PAN/non-linked PAN-Aadhaar
  • NIL TDS with submission of Form 15G/15H or lower withholding certificate under Section 197
  • Specific exemptions for Insurance Companies, Alternative Investment Funds (AIF), and New Pension System Trust with appropriate documentation

For Non-Resident Members:

  • 20% TDS plus applicable surcharge and cess
  • Foreign Institutional Investors/Foreign Portfolio Investors: 20% plus surcharge and cess (not reducible under DTAA)
  • Option to apply beneficial Double Tax Avoidance Agreement (DTAA) rates with submission of PAN, Tax Residency Certificate (TRC), Form 10F, and self-declaration
  • Lower withholding possible with certificate under Section 197

Documentation Requirements

All documents (PAN, Forms 15G/15H/10F, self-declarations, evidence for exemptions) must be submitted through the designated portal https://mdpl.in. Scanned copies with self-attestation are acceptable. Documents submitted via email or hand delivery will not be considered.

Critical Deadlines

All TDS-related documents must be submitted by 23:59 hours on September 16, 2026. Documents submitted prior to this communication or after the deadline will not be considered for FY 2025-26 dividend TDS determination.

Additional Provisions

  • For joint holders, the first-named shareholder must furnish documents
  • Higher tax rate applicable across all holdings under a single PAN will be applied
  • TDS certificates will be emailed to registered email IDs post-dividend payment
  • No revisions to TDS returns will be entertained based on subsequent requests
  • Shareholders may claim refunds through income tax returns if eligible

Disclaimer

The communication summarizes TDS provisions and does not constitute complete tax advice. Shareholders are advised to consult their tax advisors.