Dividend Recommendation

The Board of Directors at their meeting held on May 14, 2026, recommended a dividend of ₹1.10 (One Rupee and Ten paise) per equity share of face value ₹2 each for the financial year ended March 31, 2026. This dividend payment is subject to approval by shareholders at the ensuing Annual General Meeting.

TDS Framework for Resident Shareholders

The company will deduct tax at source on dividend payments as mandated by Section 393 of the Income Tax Act, 2025:

  • 10% withholding tax for shareholders with valid PAN registered with the company
  • 20% withholding tax for shareholders without PAN, invalid PAN, inoperative PAN, or PAN not linked with Aadhaar
  • NIL withholding tax for certain entities including LIC, GIC, Mutual Funds, Government entities, and Category I & II Alternative Investment Funds (AIFs) registered with SEBI, subject to providing required documentation
  • Resident individual shareholders are exempt from TDS if total dividend received in FY 2026-27 does not exceed ₹10,000

TDS Framework for Non-Resident Shareholders

  • Standard withholding tax rate of 20% plus applicable surcharge and cess
  • Option to apply lower Double Tax Avoidance Agreement (tax treaty) rates if beneficial
  • Required documents include Tax Identification Number, PAN (if available), Tax Residency Certificate for FY 2026-27, Form 41, and self-declaration confirming eligibility for treaty benefits
  • The company is not obligated to apply beneficial treaty rates and will depend on completeness of documentation submitted

Procedural Requirements

Shareholders must submit all required tax exemption forms and supporting documents through the shareholder web portal managed by M/s. MUFG Intime India Private Limited, the company's Registrar and Transfer Agent.

Critical Deadline: All documents must be submitted on or before August 6, 2026. No communications received after this date will be considered for the dividend payment.

Additional Provisions

  • Shareholders holding shares under multiple accounts with different status categories but single PAN will have the highest applicable tax rate applied to their entire holding
  • Residential status will be determined based on data available with the Company/RTA/Depository Participants
  • Shareholders may claim refunds through their income tax returns if tax is deducted at higher rates

Disclaimer

The company includes a disclaimer stating that the information provided does not constitute legal or tax advice and shareholders should consult their tax consultants for specific implications.