Nature of the Event

This document is a regulatory disclosure and shareholder communication regarding the recommended dividend for Financial Year 2025-26 and the associated Tax Deduction at Source (TDS) procedures. The filing is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Quantitative Figures

The Board of Directors has recommended a dividend of ₹87.00 per equity share of ₹10 each for the Financial Year ended 31st March 2026.

Dates of Action and Transaction

  • Board Meeting Date: 15th May 2026 (where dividend was recommended)
  • Record Date (Cut-off date): Friday, 12th June 2026 (for determining shareholder eligibility)
  • AGM Date: Friday, 19th June 2026 (where dividend approval will be sought)
  • Dividend Payment Date: After 19th June 2026 (subject to AGM approval)
  • Register of Members Closure: From Saturday, 13th June 2026 to Friday, 19th June 2026 (both days inclusive)
  • Deadline for Tax Document Submission: Friday, 12th June 2026
  • Declaration Date: 25th May 2026

Parties Involved

  • Registrar and Transfer Agent: KFin Technologies Limited
  • Regulatory References: SEBI LODR Regulations 2015 (Regulation 30, Regulation 42), Companies Act 2013, Income Tax Act 2025
  • Company Representative: Ganesh S. Pardeshi, Company Secretary & Compliance Officer (Membership No.: A29080)

TDS Rates and Procedures

For Resident Shareholders

  • Standard TDS rate: 10% (with valid PAN)
  • Higher TDS rate: 20% (without PAN, invalid PAN, or PAN not linked with Aadhaar)
  • No TDS for resident individuals if total dividend during Tax Year 2026-27 does not exceed ₹10,000
  • Exemptions available through Form 121 for eligible individuals

For Non-Resident Shareholders

  • Standard withholding tax: 20% plus applicable surcharge and cess
  • Higher rate of 30% for shareholders from Notified Jurisdictional Areas
  • DTAA benefits available upon submission of required documents (PAN, TRC, Form 41, declarations)

Specific Exemptions Listed

  • Insurance Companies (with IRDAI registration)
  • Mutual Funds (SEBI registered)
  • Alternative Investment Funds (Category I/II SEBI registered)
  • NPS Trust
  • Recognized Provident Funds
  • Approved Superannuation Funds
  • Approved Gratuity Funds
  • National Pension Scheme
  • Government (Central/State)

Additional Requirements

  • PAN-Aadhaar linking mandatory to avoid higher TDS deduction
  • Declaration under Rule 203 required if dividend income assessable to someone other than registered shareholder
  • Multiple accounts under single PAN will attract highest applicable tax rate
  • Documents can be submitted through NSDL's Tax Service for eligible institutions
  • All documents must be submitted by 12th June 2026; no revisions accepted thereafter

Notes and Disclaimers

  • Tax rates subject to enhancement by surcharge and cess where applicable
  • Shareholders can claim refunds through income tax returns if excess TDS deducted
  • Company not liable for higher taxes deducted due to incomplete documentation
  • Shareholders responsible for any income tax demands arising from misrepresentation
  • Communication is summary in nature; shareholders should consult tax advisors