Dividend Details

The Board of Directors recommended a dividend of ₹0.10 per equity share (face value ₹1) at its meeting on 28th April 2026. The dividend payment is subject to shareholder approval at the Annual General Meeting (AGM) scheduled for Tuesday, 15th September 2026.

Record Date & Payment Method

The Record Date (or Cut-off Date) for determining shareholder eligibility is Tuesday, 8th September 2026. Dividend will be paid electronically to the bank accounts of members as per SEBI and MCA mandates. Payment will be made to members whose names appear on the Register of Members or as Beneficial Owners with the depositories (NSDL and CDSL) as of this date.

TDS Obligation and General Procedure

In accordance with the Income Tax Act, 2025, the company is obligated to deduct TDS from the dividend paid at applicable rates. The TDS rate will be determined based on shareholder details (PAN, residential status, category) available with the company's Registrar & Share Transfer Agent (RTA), M/s. Maheshwari Datamatics Pvt. Ltd., or the depositories as of the Record Date. Shareholders must ensure all KYC details are updated with their Depository Participants or the RTA.

TDS for Resident Shareholders

  • The standard TDS rate is 10% for residents with a valid PAN.
  • A 20% TDS rate applies if PAN is not provided, is invalid, or is inoperative due to non-linking with Aadhaar.
  • Exemptions for Resident Individuals: No TDS if the total dividend during FY 2026-27 does not exceed ₹10,000 or if a valid Form 121 is submitted by the deadline.
  • Exemptions for Resident Non-Individuals: Entities like Insurance Companies, Mutual Funds, AIFs (Category I/II), and NPS Trust can avoid TDS by submitting a self-declaration and supporting documents (PAN, registration certificates) as per the format in Annexure 2.

TDS for Non-Resident Shareholders

  • The standard withholding tax rate is 20% (plus applicable surcharge and cess).
  • Non-residents can avail a lower rate under a Double Tax Avoidance Agreement (DTAA) by submitting specific documents by the deadline: a self-attested PAN copy (or details from Annexure 3 if no PAN), a Tax Residency Certificate (TRC) for FY 2026-27, an e-filed Form 41 valid for FY 2026-27, a self-declaration of treaty eligibility (Annexure 3), and for FIIs/FPIs, a SEBI registration certificate.
  • The company notes it is not obligated to apply DTAA benefits and will do so only after a satisfactory review of submitted documents.

Lower/Nil Withholding Certificate

Shareholders (resident or non-resident) can submit a certificate issued under Section 395 of the Income Tax Act for lower or nil withholding of taxes. The certificate must mention the company's TAN: CALS08075E.

Critical Deadlines and Submission Process

All documents for claiming exemptions or lower TDS rates (Form 121, self-declarations, Section 395 certificates, DTAA documents, etc.) must be submitted as scanned, self-attested copies exclusively through the portal https://mdpl.in. The submission deadline is 11:59 PM on Tuesday, 8th September 2026. Documents submitted via email, hand delivery, or after the deadline will not be considered for this dividend. Documents must be submitted afresh for the tax year 2026-27; prior submissions will not be considered.

Other Key Provisions

  • For shareholders with multiple accounts under a single PAN but different statuses, the highest applicable TDS rate will be applied to the entire holding.
  • In case of joint holders, the first-named shareholder must furnish the required documents.
  • Shareholders can claim a refund for any excess TDS deducted by filing their income tax return; no claims can be made against the company.
  • Tax credit can be viewed in Form 16A on the TRACES portal (https://traces.tdscpc.gov.in).
  • The company will not revise TDS returns once filed based on the records from depositories or the RTA.

Disclaimer

The communication is a summary of tax provisions, and shareholders are advised to consult their own tax advisors for their specific circumstances.