Bharat Forge Limited has detailed the Tax Deduction at Source (TDS) compliance requirements for the final dividend of ₹6.5 per equity share, or 325%, recommended for the financial year 2025-26. The company specified that shareholders must submit necessary tax-related documents by Friday, July 3, 2026, to ensure the correct tax rate is applied and to avoid higher deductions. The dividend is payable on equity shares of ₹2 each, subject to shareholder approval at the Annual General Meeting.

The Board of Directors recommended the dividend in its meeting held on May 7, 2026. To facilitate the distribution, the company has established Friday, July 3, 2026, as the record date. The Annual General Meeting is scheduled for Tuesday, August 11, 2026, followed by the dividend payout on Friday, August 14, 2026.

Key Dates for Dividend Payout

TDS Compliance for Shareholders

Under the Income Tax Act, 2025, dividend income is taxable in the hands of shareholders, and the company is mandated to deduct TDS at the time of payment. For resident individuals, TDS is deducted at 10% if a valid Permanent Account Number (PAN) is registered. This rate rises to 20% if the PAN is invalid, not linked with Aadhaar, or unavailable. No tax is deducted if the total dividend income for the Tax Year 2026-27 does not exceed ₹10,000 or if the shareholder submits Form 121.

Resident non-individual entities, such as insurance companies and mutual funds, are exempt from TDS upon submission of specific self-declarations and registration certificates. Non-resident shareholders face a withholding tax rate of 20% plus surcharge and cess under domestic law, unless they opt for benefits under a Double Tax Avoidance Agreement (DTAA). To avail DTAA rates, non-residents must submit a Tax Residency Certificate, Form 41, and other declarations by July 3, 2026.

Documentation and Submission

Shareholders holding shares in demat form must update bank details with their Depository Participant, while those with physical shares must update them with MUFG Intime India Private Limited. All required forms and declarations for claiming exemption or lower TDS must be submitted via the Registrar and Transfer Agent's website or via email to tdsforms@bharatforge.com by the record date. The company emphasized that incomplete or unsigned forms received after July 3, 2026, will not be accepted, and any tax deducted at a higher rate due to non-compliance will not be refundable by the company, though shareholders may claim it in their income tax returns.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE465A01025/9bc1c4e1d8e04ebc.pdf

Bharat Forge 's wholly owned defence subsidiary, Kalyani Strategic Systems Limited (KSSL), signed a strategic partnership with AM General at the Eurosatory defense exposition in Paris, France, on June 18, 2026. The collaboration aims to equip modern armies with compact, robust, and mobile Next-Gen Mounted Artillery gun platforms, offering a distinct competitive edge in evolving combat scenarios. The partnership is positioned to provide a scalable, exportable artillery solution for partner nations seeking modern, mobile, and survivable 155mm fires capability.

U.S. Army Mobile Tactical Cannon Program

As part of the agreement, AM General has offered a proposal to participate in the U.S. Army Mobile Tactical Cannon (MTC) program. The proposal to the U.S. Government includes the development and delivery of a 155mm MTC solution based on the architecture of KSSL's Mounted Artillery Gun platform, with delivery planned in 2027 upon its down-selection. The system leverages KSSL's MARG platform, which features a 52-Caliber 155mm Cannon combined with patented Soft Recoil Technology (SRT) Recoil Mitigation system.

MARG System Capabilities

The MARG system provides strategic transportability and tactical mobility through a purpose-built powerpack and suspension with a lighter gross vehicle weight rating. It includes an automated load-assist and an advanced all-weather fire control suite for indirect and direct fire capabilities. The system fires a standard high-explosive projectile over 40 Kilometers and carries over 20 projectiles and propellant charges on-board. The SRT system absorbs significantly more recoil force than traditional artillery systems, allowing for a lighter vehicle and turret.

The key technical specifications of the MARG platform are outlined below:

Leadership Statements

Mr. Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge Ltd, stated that the partnership is underscored by trust in KSSL's advanced artillery capabilities and commitment to delivering combat-proven solutions. Mr. John Chadbourne, President and CEO of AM General, said that integrating the patented soft recoil technology into mature platforms will deliver groundbreaking capabilities for the evolving battlefield.