Dividend Declaration Details

  • Board of Directors meeting held on May 06, 2026 recommended Final Dividend of ₹70 per equity share of ₹10 each (700%) for financial year ended March 31, 2026
  • Dividend payment subject to shareholder approval at Annual General Meeting scheduled for Friday, July 31, 2026
  • Record date for dividend eligibility: Friday, July 17, 2026
  • Dividend will be paid within stipulated timelines prescribed under Companies Act, 2013

TDS Implementation

Under Income-tax Act, 2025, dividend income is taxable in hands of shareholders. Company will deduct tax at source at time of payment if dividend is approved.

TDS Rates by Shareholder Category

Resident Shareholders:

  • Individual shareholders: 10% TDS rate
  • No TDS if dividend income does not exceed ₹10,000 during FY 2026-27 and paid via non-cash mode
  • No TDS if shareholder submits Form 121 meeting eligibility conditions
  • Insurance companies (LIC, GIC, National Insurance, New India Assurance, Oriental Insurance, United India Insurance): NIL rate
  • Mutual Funds specified under Section 11 - Schedule VII: NIL rate
  • Corporations established by Central Act exempt from income-tax: NIL rate
  • Alternative Investment Funds: NIL rate
  • New Pension System (NPS) Trust: NIL rate
  • Shareholders with order u/s 395(1) of Income Tax Act: Rate mentioned in order
  • Shareholders without PAN/Invalid PAN: 20% TDS rate

Non-Resident Shareholders:

  • Any non-resident shareholder: Lower of 20% (plus applicable surcharge and cess) or Tax Treaty rate
  • FII/FPI: Lower of 20% (plus applicable surcharge and cess) or Tax Treaty rate
  • Shareholders with order u/s 395(1): Rate mentioned in order

Document Submission Requirements

Resident Shareholders:

  • Entities covered under CBDT Circular No. 18/2017: Submit documentary evidence
  • Individual shareholders seeking nil TDS: Submit duly signed Form 121 with complete Part-A and Part-B (Sr. Nos. 8, 9, 11 to 18)
  • Other insurers: Submit self-attested copy of registration and declaration of beneficial ownership
  • Mutual Funds: Submit declaration with self-attested copy of registration certificate
  • Corporations: Submit declaration with self-attested copy of registration and relevant statute extract
  • AIFs: Submit declaration with self-attested copy of registration certificate
  • NPS Trust: Submit declaration with self-attested copy of registration document
  • Section 395(1) orders: Must specify Company TAN - JDHS01295A

Non-Resident Shareholders:

  • To claim DTAA benefits: Submit Tax Residency Certificate valid for FY 2026-27, Form 41 filed electronically, certified copy of PAN (if allotted), and declaration containing specific points
  • FPI/FII: Additional requirement of self-attested copy of SEBI registration certificate
  • Section 395(1) certificates: Must specify Company TAN - JDHS01295A

Submission Deadline and Process

  • All documents must be submitted by Thursday, July 16, 2026, 5:00 PM IST
  • Documents must be submitted ONLY through prescribed portal: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html or email: shreecementdivtax@in.mpms.mufg.com
  • Documents sent to other addresses will not be considered
  • Company reserves right to reject documents in case of discrepancies or incompleteness

Important General Instructions

  • PAN registration mandatory for all shareholders; absence will result in 20% TDS deduction
  • Physical shareholders must submit PAN via Form ISR-1 to MUFG Intime India Private Limited
  • SWAYAM portal available for physical shareholders for KYC updates and other services
  • Company will not refund excess tax deducted; shareholders must claim credit/refund via income-tax return
  • TDS credit will be visible in Form 168 through e-filing account for shareholders with valid PAN
  • Declaration under Section 390 for dividend taxable in other person's hands must be submitted by October 16, 2026
  • Clearing members must ensure shares are transferred to shareholder accounts before record date
  • Higher applicable tax rate will be applied across all accounts under single PAN
  • Shareholders indemnify Company against any tax demands arising from misrepresentation

Bank Account Updates

  • Shareholders must ensure bank account details are updated in demat account or physical folio
  • Physical shareholders must provide PAN, nomination, contact details, bank account details, and specimen signature for electronic dividend payment as mandated by SEBI circulars

Download Links Provided

  • Circular No. 18/2017 dated 29.05.2017
  • Form 121
  • Declaration of Category and Beneficial Ownership of Shares
  • Information under rule 217 of Income-tax Rules, 2026
  • Letter for foreign companies without PE in India
  • Declaration under section 390 of Income-tax Act, 2025