Asahi India Glass has scheduled its 41st Annual General Meeting for September 18, 2026, to consider the adoption of audited financial statements for FY26. The Board proposes a final dividend of ₹2 per equity share for the year ended March 31, 2026.

The meeting will be conducted via Video Conferencing or Other Audio-Visual Means, as permitted by Ministry of Corporate Affairs circulars. The record date for dividend eligibility is September 11, 2026.

Key Resolutions

Shareholders will vote on several ordinary and special business items, including the reappointment of directors and ratification of cost auditor remuneration.

Director Reappointments

The meeting seeks approval for the following director appointments:

• Reappointment of Mr. Shashank Srivastava and Mr. Kazuo Ninomiya, who retire by rotation.
• Reappointment of Mr. Masao Fukami as Whole-time Director (Deputy Managing Director - Technical & CTO Auto) for up to four years effective January 1, 2027. His remuneration includes a basic salary of ₹1.5 lakh per month and a commission of up to 1% on net profits.

Cost Auditor Remuneration

Members are asked to ratify the remuneration of ₹1.75 lakh per annum for M/s. Ashish & Associates, appointed as Cost Auditors for FY27.

Related Party Transactions

The Board seeks omnibus approval for material related-party transactions (RPTs) for FY27, totaling up to ₹2,850 crore. These transactions are deemed necessary for business operations and are structured at arm's length.

Transaction Details

Maruti Suzuki India Limited, a promoter holding 10.59% equity in the company, accounted for sales of ₹87,296.79 lakh in FY26. The proposed FY27 limit represents 30% of the listed entity's annual consolidated turnover for the preceding year.

AGC Asia Pacific Pte Limited, a group company of promoter AGC Inc., had transactions valued at ₹54,504.65 lakh in FY26. The proposed limit is 15% of AIS's annual consolidated turnover.

AIS Consumer Glass Solutions Limited, a subsidiary in which AIS holds 98.50%, reported turnover of ₹64,094.20 lakh in FY26. The proposed transaction value constitutes 93.61% of the subsidiary's standalone turnover.

What the Numbers Show

The scale of the proposed related-party transactions highlights the company's deep integration with its promoter group. With Maruti Suzuki alone accounting for a proposed ₹1,500 crore exposure—equivalent to 30% of AIS's previous year's consolidated turnover—the company's revenue visibility remains heavily dependent on this single automotive customer. Similarly, the proposed ₹600 crore transaction with its own subsidiary, AIS Consumer Glass Solutions, underscores the internal channel's dominance, representing nearly 94% of that subsidiary's prior-year turnover.

Asahi India Glass Limited has recommended a final dividend of ₹2.00 per equity share of face value ₹1.00 each for the financial year ended March 31, 2026 (FY26). The Board of Directors approved the payout during its meeting held on May 27, 2026. The dividend is subject to approval by shareholders at the company’s 41st Annual General Meeting scheduled for September 18, 2026.

Shareholders whose names appear in the Register of Members as on September 11, 2026, will be eligible to receive the dividend. The company notified the National Stock Exchange and BSE Limited regarding the deduction of tax at source (TDS) on the dividend payment, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tax Deduction at Source Guidelines

Dividends are taxable in the hands of shareholders under the Income Tax Act, 2025. Asahi India Glass will deduct TDS at applicable rates unless shareholders provide valid exemption documents. The rates vary based on residential status and documentation:

Resident Members

• No TDS: If total dividend income does not exceed ₹10,000 in a financial year.
• 10% TDS: For residents with valid PAN updated with the Depository Participant or RTA (MUFG Intime India Private Limited), provided no exemption is sought.
• 20% TDS: Applied if PAN is missing, invalid, or not linked with Aadhaar for individuals.

Residents seeking lower or nil TDS must submit Form 121 or a certificate under Section 395(1) of the Act along with a copy of their PAN card. Specific exemptions apply to entities such as Mutual Funds, Government bodies, and Recognised Provident Funds under Section 393 of the Act.

Non-Resident Members

Non-resident shareholders may avail benefits under the Double Tax Avoidance Agreement (DTAA) if more favorable than domestic rates. Standard withholding is 20% plus applicable surcharge and cess. To claim treaty benefits, shareholders must submit:

• Self-attested PAN and Tax Residency Certificate (TRC).
• Completed Form 41.
• SEBI registration certificate (for FIIs/FPIs).
• Declarations regarding beneficial ownership and permanent establishment status.

Special provisions apply to Indian branches of foreign banks (NIL TDS with documentation) and Sovereign Wealth Funds notified under Schedule V(7) of the Act.

Administrative Requirements

Shareholders holding physical securities must ensure their folios have updated PAN, nomination, contact details, bank account information, and specimen signatures. Per SEBI Master Circular no. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024, payments for folios lacking these details will be made only via electronic mode after furnishing the required information.

All documents for tax exemption must be sent to the company’s investor relations email or the RTA by September 11, 2026. No communications regarding tax withholding will be accepted after this date. Shareholders can claim refunds for excess TDS deducted through their Income Tax Returns; no claims lie against the company for such deductions.