Dividend Recommendation

  • Board of Directors recommended a dividend of ₹4 per Ordinary (equity) Share of face value ₹1 each (400%) for financial year ended March 31, 2026.
  • Dividend payment is subject to approval by shareholders at the Annual General Meeting scheduled for Thursday, July 2, 2026.
  • If approved, dividend will be paid on and from Monday, July 6, 2026.

Record Date

June 12, 2026 - for determining eligible shareholders for dividend payment.

Tax Deduction Framework

Pursuant to Income Tax Act, 2025, dividend income is taxable in the hands of shareholders, and the company is required to deduct tax at source at applicable rates.

For Resident Shareholders:

  • Resident Individuals with valid PAN: 10% TDS, unless total dividend during FY2026-27 does not exceed ₹10,000.
  • Resident Individuals without PAN/invalid PAN: 20% TDS under section 397(2) of the Act.
  • Resident Non-Individuals (Insurance Companies, Mutual Funds, AIFs, NPS Trust): Nil TDS upon submission of self-declaration and supporting documents.
  • Shareholders can submit Form 121 electronically through depositories (CDSL or NSDL) for simplified process.

For Non-Resident Shareholders:

  • Standard Rate: 20% TDS (plus applicable surcharge and cess) under section 393(2) [Table Sl. No 17] read with section 207(1) [Table Sl. No. 1].
  • DTAA Benefits: Option to be governed by Double Tax Avoidance Agreement provisions if more beneficial, requiring submission of:
  • Tax Residence Certificate (TRC) for April 2026-March 2027
  • Form 41 filed online at Income Tax portal
  • Declaration of treaty eligibility and beneficial ownership (Annexure 3)
  • SEBI registration certificate (for FIIs/FPIs)
  • PAN card copy
  • Company is not obligated to apply beneficial DTAA rates automatically; application depends on completeness of documentation.

For GDR Holders:

  • 10% TDS (including surcharge and cess) under section 393(2) [Table Sl. No 13] if PAN details provided.
  • 20% TDS plus surcharge and cess if no PAN details available.

Additional Provisions

  • Rule 203 Declaration: Required if dividend income is assessable in hands of person other than deductee.
  • Multiple Accounts: Higher applicable tax rate will be applied to entire holding across different accounts under single PAN.

Document Submission Requirements

  • Deadline: All tax-related documents must be submitted on or before Friday, June 12, 2026 (record date).
  • Submission Portal: https://web.in.mpms.mufg.com/formsreg/submission-of-Form-121-41.html
  • Email Submission:
  • Resident Shareholders: Csg1exemptforms2627@in.mpms.mufg.com
  • Non-Resident Shareholders: TDSDIVNR@in.mpms.mufg.com
  • Documents submitted after June 12, 2026 will be accepted at sole discretion of the Company.

Payment Details

  • Dividend will be paid in electronic mode only after deducting applicable TDS.
  • Shareholders must ensure bank account details are updated and KYC compliant in their demat accounts/physical folios.
  • For physical shareholders: SEBI mandates electronic dividend payment only after furnishing PAN, contact details, bank account details, and specimen signature to RTA.

Annexures Included

  • Annexure 1: Form 121 - Declaration under section 393(6) for receipt of incomes without deduction of tax
  • Annexure 2: Declaration regarding Category and Beneficial Ownership of shares (for resident non-individuals)
  • Annexure 3: Declaration regarding Tax Residency and Beneficial Ownership of shares (for non-residents claiming DTAA benefits)

Registrar and Transfer Agent

MUFG Intime India Private Limited

Disclaimer

The communication explicitly states it shall not be treated as advice from the Company, its affiliates, or its Registrar & Transfer Agent.