Date: August 22, 2026

Dividend Declaration

  • Board recommended Dividend of ₹1 per Equity Share of ₹5 each (20%) for Financial Year ended March 31, 2026 at meeting held on May 13, 2026
  • Dividend payment subject to shareholder approval at 17th Annual General Meeting on Friday, September 11, 2026
  • Dividend will be paid only through electronic mode within 30 days of AGM

Key Dates

  • AGM Date: Friday, September 11, 2026
  • Record Date: Friday, August 28, 2026
  • Last date to submit tax-related documents: Friday, August 28, 2026

Tax Deduction at Source (TDS) Framework

Under Income Tax Act, 2025 effective April 01, 2026:

  • Dividend taxable in hands of shareholders
  • Company required to deduct TDS at applicable rates
  • TDS rates depend on residential status and shareholder classification

Resident Shareholders TDS Provisions

Resident Individuals

  • TDS at 10% under Section 393(1) read with Section 393(4) for valid PAN holders
  • TDS at 20% under Section 397(2) for no PAN, invalid PAN, or PAN not linked with Aadhaar
  • No TDS if total dividend during Tax Year 2026-27 does not exceed ₹10,000
  • No TDS if Shareholder provides Form 121 (for dividend exceeding ₹10,000, requiring shareholding exceeding 10,000 shares)
  • No TDS if exemption certificate issued by Income-tax Department

Resident Non-Individual Shareholders

Exempt categories with required documentation:

  • Insurance Companies: Nil rate with self-declaration as 'Insurer' under Insurance Act 1938, PAN card, and IRDA/LIC/GIC registration
  • Mutual Funds: Nil rate with SEBI registration declaration, PAN card, and SEBI registration certificate
  • Alternative Investment Funds: Nil rate with exemption declaration under Schedule V, SEBI registration as Category I/II AIF, PAN card, and AIF registration
  • National Pension System (NPS) Trust: Nil rate with NPS Trust declaration, exemption under Schedule VII, and PAN card
  • Other Non-Individual Shareholders: Applicable rates with supporting documentary evidence and PAN card
  • Lower/Nil withholding possible with certificate under Section 395(1)

Non-Resident Shareholders TDS Provisions

Domestic Tax Law

  • TDS at 20% (plus applicable surcharge and cess) under Section 393(2)
  • Lower/Nil withholding possible with certificate under Section 395(1)

Double Tax Avoidance Agreement (DTAA)

  • Option to avail DTAA benefits if more beneficial
  • Required documents: PAN card, Tax Residency Certificate for 2026-27/2026, Form 41 for TY 2026-27, beneficial ownership declaration
  • Additional requirements: SEBI registration certificate for FII/FPI, Singapore-specific documentation for India-Singapore DTAA
  • Company not obligated to apply DTAA rates - depends on document completeness and satisfactory review

Additional TDS Considerations

  • TDS at higher 20% rate if PAN not linked with Aadhaar under Section 262
  • Declaration under Rule 203 required if dividend income assessable in hands of person other than deductee
  • Higher tax rate applied across all accounts for shareholders with multiple accounts under single PAN but different status/category

Document Submission Process

  • Documents (Form 121, Sections 393(5), 393(6), etc.) must be uploaded at MUFG Intime India Pvt Ltd - Tax Exemption platform by Friday, August 28, 2026
  • Incomplete/unsigned forms will not be considered for exemption
  • Shareholders can claim refund via income tax return if higher TDS deducted
  • Tax credit viewable in Form 168 via TRACES (https://www.tdscpc.gov.in) or Income-tax e-filing portal (https://www.incometax.gov.in)

Shareholder Requirements

  • Shareholders must ensure bank account details in demat accounts/physical folios are updated for timely dividend credit
  • NSDL facility available for Resident Non-Individual and Non-Resident Non-Individual members to submit tax documents through custodians

Disclaimer

  • This communication not treated as tax advice from Company, affiliates, or RTA
  • Shareholders should obtain tax advice from tax professionals