Date: June 23, 2026

Dividend Declaration

Board of Directors at its Meeting held on Monday, May 11, 2026, recommended a final dividend of Rs. 5/- (Rupees Five Only) per equity share of the face value of Rs. 10/- (Rupees Ten Only) each fully paid up for the financial year 2025-26, subject to the approval of the members at the 62nd Annual General Meeting scheduled on Monday, July 27, 2026.

Record Date fixed for determining eligibility of shareholders for payment of final dividend is Monday, July 20, 2026. Dividend will be paid on or before August 25, 2026 (within 30 days from date of declaration of final dividend).

TDS Compliance Requirements

Pursuant to Income Tax Act, 2025, dividend income is taxable in hands of members and Company is required to deduct tax at source (TDS) from dividend paid to members at applicable rates.

Shareholders must update details and submit requisite tax exemption documents/declarations to Company on or before Monday, July 27, 2026.

SEBI Master Circular Compliance

SEBI Master Circular No. HO/38/13/(4)2026-MIRSD-POD/I/4298/2026 dated February 06, 2026 mandates:

  • Physical security holders must furnish PAN, Choice of Nomination, Contact details, Bank A/c details and Specimen signature
  • Payments including dividend will be made only through electronic mode effective April 1, 2024
  • No dividend will be paid by physical warrant issuance

TDS Rates for Resident Shareholders

  • TDS @ 10% where valid PAN furnished
  • TDS @ 20% in absence of valid PAN
  • Resident Individual shareholders must link Aadhaar with PAN before Record Date
  • No TDS applicable if total dividend for FY 2026-27 does not exceed Rs. 10,000/- per shareholder
  • No TDS for below taxable limit income with Form 121 declaration and PAN

Exemptions for Resident Non-Individual Shareholders

Require documentary evidence including:

  • Insurance companies: Self-declaration, PAN, IRDAI registration
  • Business Trust: As defined in section 2(21)
  • Mutual Funds: Declaration, PAN, registration documents
  • Alternative Investment Fund (AIF): Declaration, PAN, registration certificate
  • New Pension System Trust: Declaration, PAN, registration certificate
  • Corporation established by Central Act: Documentary evidence
  • Approved Gratuity Fund: Approval copy
  • Recognized Provident Fund: Order from Commissioner
  • Approved Superannuation Fund: Approval copy
  • National Pension Scheme: Declaration, registration
  • Other Non-Individual shareholders: Documentary evidence, PAN

TDS for Non-Resident Shareholders

  • TDS @ 20% (plus applicable surcharge and cess) for FPI/FII and other non-resident shareholders
  • DTAA benefits require: PAN card copy, Tax Residency Certificate (valid for FY 2026-27), Form 41 filed online, self-declaration of no Permanent Establishment and beneficial ownership

Higher TDS Rates

As per Section 397 of Income Tax Act, 2025, higher TDS applies for:

  • Non-furnishing of PAN
  • Invalid PAN (including non-linkage with Aadhaar)
  • Incorrect PAN details

TDS deducted at higher of: rate specified in relevant provision, rate in force, or 20%

Additional Requirements

  • Shareholders with multiple accounts under different status/category: Higher tax rate applicable to entire holding
  • Form 145 required for remittance to Non-Residents or Foreign Companies
  • Certificate under Section 395 for lower/NIL TDS deduction available
  • Rule 203 declaration required for persons other than Registered Shareholders receiving dividend income
  • TDS information available in Form 26AS via Income Tax portal
  • TDS certificate emailed to registered email address