Date: June 9, 2026

Dividend Declaration

  • Board of Directors recommended final dividend of ₹3.00 per fully paid-up Equity Share of face value ₹2/- each (150%) for FY ended March 31, 2026
  • Dividend subject to approval at 81st Annual General Meeting scheduled for Wednesday, July 8, 2026
  • Record date fixed for determining entitlement: Friday, June 19, 2026
  • Dividend distribution scheduled on or before Tuesday, July 14, 2026

Tax Deduction Guidelines

For Resident Shareholders:

  • TDS rate of 10% where shareholders have registered valid PAN
  • TDS rate of 20% if no PAN/invalid PAN/non-linking of PAN with Aadhaar
  • No TDS for resident individuals if total dividend during FY 2026-27 does not exceed ₹10,000/- or if Form 121 is furnished
  • Specific exemptions for Insurance Companies, Mutual Funds, Alternative Investment Funds, NPS Trust with required documentation (Annexure 2)

For Non-Resident Shareholders:

  • Withholding tax rate of 20% (plus applicable surcharge and cess)
  • Option to avail DTAA benefits by providing PAN/TRC/Form 41/treaty eligibility declaration (Annexure 3)
  • Special requirements for Singapore tax residents regarding Article 24-Limitation of Relief

General Provisions:

  • Lower withholding available with certificate under Section 395 of Income Tax Act
  • Company TAN for lower withholding certificates: MUMT28211B
  • Documents must be submitted by cut-off date: Tuesday, June 23, 2026
  • Higher TDS rate applies for non-linkage of PAN with Aadhaar as per Section 262
  • Declaration required under Rule 203 of Income-tax Rules, 2026 for dividend income assessable by person other than deductee (Annexure 4)

Submission Details

  • Documents can be uploaded at: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Resident shareholders email: Csg6exemptforms2627@in.mpms.mufg.com
  • Non-resident shareholders email: tmlpvdividend@vrtaxconsultants.com
  • Documents sent to other email IDs considered non-submission

Additional Information

  • Tax credit can be viewed in Form 168 via TRACES portal or Income Tax Department e-filing website
  • Shareholders must update bank account details in demat accounts/physical folios for electronic dividend payment
  • SEBI mandate requires physical shareholders to provide PAN, nomination, contact details, bank details, and specimen signature for electronic dividend payments effective April 1, 2024

Annexures Provided

  • Annexure 1: FORM 121
  • Annexure 2: Declaration of Category of Resident Shareholder
  • Annexure 3: Declaration by non-resident shareholder
  • Annexure 4: TDS Declaration Format Under Rule 203
  • Appendix A for Rule 203