Dividend Recommendation

The Board of Directors, at its meeting held on 4th June 2026, recommended a dividend of 90% at the rate of ₹9 (Rupees Nine only) per equity share of face value ₹10 each for the financial year ended 31st March 2026. This is subject to approval by shareholders at the ensuing Annual General Meeting (AGM).

TDS Provisions Overview

The company is required to deduct tax at source on dividend payments as per the Income-tax Act, 2025 effective from 1st April 2026. The withholding tax rate varies based on shareholder residential status and submitted documents.

TDS for Resident Shareholders

  • General Rate: 10% TDS under Section 393(1) Table SI. No. 7 for shareholders with valid PAN.
  • Higher Rate: 20% TDS under Section 397(2) for shareholders without PAN/invalid PAN/PAN not linked with Aadhaar.
  • Exemptions for Resident Individuals: No TDS if total dividend during Tax Year 2026-27 does not exceed ₹10,000 (Section 393(4) Table SI. No. 10) or if Form 121 is submitted meeting all conditions.
  • Exemptions for Resident Non-Individuals: No TDS for specific entities upon submission of required declarations and documents:
  • Insurance Companies (must qualify under Section 2(7A) of Insurance Act, 1938)
  • Mutual Funds (registered with SEBI and specified under Schedule VII)
  • Alternative Investment Funds (Category I or II AIFs registered with SEBI)
  • National Pension System (NPS) Trust
  • Other non-individual shareholders with supporting documentary evidence
  • Lower/NIL Withholding: Possible with certificate under Section 395(1) of the Act.

TDS for Non-Resident Shareholders

  • Domestic Tax Law: 20% TDS (plus applicable surcharge and cess) under Section 393(2).
  • DTAA Benefits: Non-resident shareholders can opt for beneficial DTAA rates by submitting:
  • Self-attested PAN copy
  • Valid Tax Residency Certificate (TRC) for 2026-27
  • Form 41 filed electronically from Income Tax portal
  • Non-Resident Tax Declaration (Annexure 4) for treaty eligibility and beneficial ownership
  • SEBI registration certificate for FIIs/FPIs
  • Additional documentation for Singapore residents regarding Article 24 limitation
  • The company is not obligated to apply DTAA rates and will do so only upon satisfactory review of documents.

Payment Process and Additional Provisions

The dividend will be paid after AGM approval within prescribed timelines after TDS deduction. Key provisions:

  • TDS deducted at 20% if PAN not linked with Aadhaar (Section 262)
  • Declaration under Rule 203 required if dividend income assessable in hands of person other than deductee
  • For multiple accounts under single PAN with different statuses, highest applicable tax rate will be applied to entire holding

Document Submission Deadline

All tax-related documents must be emailed to the Registrar and Share Transfer Agent, Niche Technologies Private Limited (nichetechpl@nichetechpl.com) with copy to pilani@pilaniinvestment.com on or before 3rd July 2026 by 5:00 PM IST. No documents will be accepted after this deadline.

KYC and Bank Details Update

As per SEBI Master Circular dated 7th May 2024 read with Circular dated 10th June 2024:

  • Physical shareholders must update PAN, contact details, bank account details, and specimen signatures
  • KYC non-compliant folios will receive dividends only electronically after updating details with RTA
  • All shareholders should ensure bank details are updated in demat accounts/physical folios for timely dividend credit

Annexures Provided

The communication includes five annexures:

  • Annexure 1: Form 121 for declaration under section 393(6) for receipt of income without TDS deduction
  • Annexure 2: Resident Tax Declaration form for non-individual categories
  • Annexure 3: Procedure to file Form 41 online on Income Tax Portal
  • Annexure 4: Non-Resident Tax Declaration form for DTAA benefits
  • Annexure 5: Declaration under Rule 203 for credit of TDS to another person

Disclaimer

The information provided does not constitute legal or tax advice, and shareholders are advised to consult their own tax consultants for specific implications.