Banco Products (India) Limited has announced comprehensive tax deduction guidelines for its previously declared second interim dividend of ₹8 per share. Following the board's approval on March 13, 2026, the company has issued detailed communication to shareholders regarding Tax Deduction at Source (TDS) procedures and documentation requirements for the dividend payment.

Dividend Declaration Details

The board of directors approved the second interim dividend during their meeting held on March 13, 2026, with Company Secretary Preeti Yadav formally communicating the decision to BSE Limited and National Stock Exchange of India Limited under Regulation 30 compliance.

Newspaper Advertisement Publication

On March 14, 2026, Banco Products (India) Limited published newspaper advertisements in Business Standard (English) and Loksatta Jansatta (Gujarati) to inform shareholders about the second interim dividend declaration and record date. The company submitted copies of these newspaper advertisements to both BSE and NSE under Regulation 30 compliance requirements.

TDS Communication Framework

Banco Products (India) Limited has issued comprehensive guidelines to shareholders regarding tax deduction procedures. The company has communicated that dividend payments are taxable in shareholders' hands as per Income Tax Act provisions effective from April 1, 2020, requiring mandatory tax deduction at source during dividend distribution. Email communications have been sent to all shareholders whose email IDs are registered with the company or depositories.

Tax Deduction Rates for Different Categories

The company has outlined specific TDS rates based on shareholder categories and documentation submission:

Documentation Requirements and Information Access

For resident shareholders seeking exemption or lower rates, the company requires submission of Form 15G for individuals or Form 15H for individuals above 60 years, along with valid PAN details. Insurance companies, mutual funds, Alternative Investment Funds, and New Pension System Trust shareholders must provide specific declarations and registration documents.

Detailed information regarding the dividend declaration and TDS procedures is available on the company's website at www.bancoindia.com and stock exchange websites at www.bseindia.com and www.nseindia.com . Shareholders must submit required documentation on or before March 19, 2026, to enable appropriate TDS rate determination.

Banco Products (India) Limited has announced an important board meeting to consider dividend-related matters for the current financial year. The automotive component manufacturer has scheduled this meeting as part of its regular corporate governance processes.

Board Meeting Details

The company has informed stock exchanges that its Board of Directors will convene on Friday, March 13, 2026, to discuss key financial matters. The meeting agenda includes two primary items for consideration:

Trading Window Restrictions

In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct, Banco Products has implemented trading restrictions. The trading window for dealing in company securities will remain closed for specific categories of individuals.

Trading Window Closure Details

Regulatory Compliance

The board meeting intimation has been issued pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about board meetings where material decisions may be taken.

The company has formally communicated this information to both BSE Limited and National Stock Exchange of India Limited, ensuring compliance with listing requirements. The notification was signed by Company Secretary Preeti Yadav and submitted to the exchanges on March 2, 2026.

Company Background

Banco Products (India) Limited operates as a government-recognized export house in the automotive components sector. The company maintains its registered office and factory at Bil, Near Bhaili Railway Station, Padra Road, District Vadodara, Gujarat, and holds IATF 16949:2016 certification for quality management systems.