Pilani Investment Announces Dividend Recommendation of Rs 9 Per Share for Financial Year Ended March 31, 2026
Pilani Investment and Industries Corporation Limited announced a dividend recommendation following its Board meeting held on June 4, 2026. The company recommended a dividend equivalent to 90% or at the rate of Rs 9/- per Equity Share of face value Rs 10/- each for the financial year ended March 31, 2026. This payment is subject to approval by the shareholders at the forthcoming Annual General Meeting (AGM).The company provided detailed guidance regarding the Tax Deducted at Source (TDS) provisions applicable to the dividend payout, which must be withheld in compliance with the Income-tax Act, 2025, effective from April 1, 2026.
Dividend distribution is subject to TDS deduction based on the shareholder’s residential status and the documentation provided. The company has outlined specific requirements for residents and non-residents regarding tax withholding rates.
Key provisions related to dividend payments and applicable TDS are summarized below:
| Shareholder Category | Tax Rate (Standard) | Conditions / Exemptions |
|---|---|---|
| Resident Individuals | 10% (If PAN is valid) | Exemption possible if total dividend does not exceed Rs 10,000 or if Form 121 and other eligible documents are submitted. |
| Other Resident Shareholders | Varies (10% or 20%) | Tax rate depends on the status and documentation provided by the shareholder. |
| Non-Resident Shareholders (Domestic Law) | 20% (+ surcharge and cess) | Can claim lower or Nil withholding tax upon submitting prescribed certification. |
For resident shareholders, there are specific exemption criteria for non-individuals, including Insurance Companies, Mutual Funds, Alternative Investment Funds (AIF), and National Pension System (NPS) Trusts.
Regarding Non-Resident Shareholders, the company confirmed that taxes must be withheld in accordance with domestic tax law at a rate of 20% plus applicable surcharge and cess. Non-resident shareholders have the option to avail benefits under the Double Tax Avoidance Agreement (DTAA), provided they submit required documentation such as a Tax Residency Certificate (TRC) and self-declaration forms.
The dividend on Equity Shares for Financial Year 2025-26 will be paid after deducting the tax at source, subject to shareholder approval at the AGM. Shareholders are advised that the applicable TDS rate may be determined by the company based on the completeness of the documentation provided before the specified deadline.
PILANIINVS Stock Price Movement
Shares of Pilani Investment and Industries Corporation Limited continue gaining as of 2:57 PM, trading up 2.03% in the live market at ₹4294. The current activity reflects a trade volume of 1,531 shares for the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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