Delta Corp Limited has scheduled its 35th Annual General Meeting (AGM) for Thursday, September 10, 2026, at 5:30 pm. The meeting will be conducted through Video Conferencing or Other Audio Visual Means (OAVM). A key agenda item is the approval of the final dividend of ₹0.50 per equity share of face value ₹1 each for FY26, recommended by the Board at its meeting on April 22, 2026.

Dividend and Tax Deduction Details

The record date for determining dividend eligibility is Monday, August 17, 2026. In compliance with the Finance Act, 2020, which abolished Dividend Distribution Tax, dividend income is now taxable in the hands of shareholders. Delta Corp will deduct Tax at Source (TDS) based on the following rates:

Non-resident members may claim benefits under Double Tax Avoidance Agreements (DTAA) by submitting a Tax Residency Certificate and Form 41. Resident individuals seeking nil TDS must submit Form 121 if eligible.

Submission Deadline

Shareholders must submit required documents, such as Form 121 or DTAA declarations, by Saturday, August 29, 2026, at 5:00 pm. Documents can be uploaded via the Purva Sharegistry portal or emailed to dividendtax@deltin.com . The company noted that no requests for revision of TDS returns will be entertained after this deadline. TDS certificates can be downloaded from the company’s website using the registered PAN as the user ID.

Auditor and Director Changes

The AGM will also see the appointment of M/s. M S K C & Associates LLP as Statutory Auditors, replacing M/s Walker Chandiok & Co. LLP, whose second five-year term concluded. The proposed remuneration for the new auditors for FY27 is ₹55 lakh plus taxes and out-of-pocket expenses.

Additionally, shareholders will vote on the re-appointment of Mr. Jaydev Mody as a director, who retires by rotation. The Board has proposed a special resolution to approve an aggregate commission of ₹50 lakh for all Non-Executive Directors and the Promoter Director for FY26, which does not exceed 1% of net profits.

Meeting Logistics

The Register of Members and Share Transfer Books will remain closed from Friday, September 4, 2026, to Thursday, September 10, 2026. Remote e-voting via NSDL e-Voting will be open from Monday, September 7, 2026, at 9:00 am to Wednesday, September 9, 2026, at 5:00 pm. Members holding shares as on September 3, 2026, are eligible to vote.

Delta Corp reported a sharp decline in profitability for the financial year ended March 31, 2026, with consolidated net profit falling 65.75% to ₹85.29 crore from ₹248.99 crore in the previous year. The downturn was primarily driven by an increase in the Goods and Service Tax (GST) rate on gaming chips from 28% to 40%, alongside strategic rationalisation of its operating portfolio.

Consolidated gross revenue decreased by 5.68% to ₹690.19 crore, with net revenue standing at ₹688.46 crore after accounting for intragroup transactions. Casino gaming revenue, the core business segment, declined 5.31% to ₹642.59 crore due to the higher tax burden and temporary closure of King Casino for vessel transition. Hospitality division revenue also contracted by 10.46% to ₹47.60 crore, impacted by connectivity issues and geopolitical tensions affecting travel demand.

Financial Performance

The company’s EBITDA dropped significantly by 29.84% to ₹171.31 crore from ₹244.17 crore in FY25, resulting in a margin contraction to 24.88% from 33.46%. This decline reflects lower revenue bases, increased employee costs for upcoming offshore vessel operations, and elevated legal expenses related to GST litigation. Other income fell 28.66% to ₹40.72 crore, contributing to a total income decline of 7.31% to ₹729.18 crore.

Note: Previous year total income used for comparison where net revenue specific prior figure not explicitly isolated in summary text, though text states revenue declined 5.64% YoY.

Strategic Developments

Delta Corp undertook measured rationalisation by discontinuing smaller businesses, including Deltin Zuri in Goa and Deltin Denzong in Sikkim, which were deemed commercially unviable under the revised taxation framework. The company continues to invest in its new offshore casino vessel, expected to commence operations in FY27, which is projected to nearly double gaming capacity. Additionally, the proposed demerger of hospitality and real estate businesses into separate listed entities aims to enhance operational focus and unlock shareholder value.

What the Numbers Show

The divergence between the significant drop in net profit (-65.75%) and the more moderate decline in revenue (-5.64%) highlights the severe impact of non-operational and exceptional factors on bottom-line results. While the current year included an exceptional charge of ₹5.51 crore for new labour code liabilities, the previous year benefited from substantial exceptional gains of ₹213.22 crore from the divestment of Deltatech Gaming Limited. This comparison indicates that the year-over-year profit contraction was heavily influenced by the absence of prior-year one-time gains rather than solely operational deterioration.

Balance Sheet Position

Despite the earnings pressure, the group maintained a debt-free balance sheet with cash and cash equivalents of approximately ₹75.70 crore as of March 31, 2026. Return on Net Worth turned negative at -15.43%, compared to 6.65% in the previous year, largely due to reduced profitability and a one-time impairment provision of approximately ₹460 crore on investments in online gaming businesses following regulatory restrictions.