Gujarat Narmada Valley Fertilizers & Chemicals Ltd has recommended a dividend of ₹21 per share for the financial year ended March 31, 2026. The dividend, amounting to 210% of the face value of ₹10 each, is subject to approval by shareholders at the 50th Annual General Meeting. If approved, the payment will be made during FY 2026-27 to shareholders holding equity shares as of the record date, which will be announced later.

The Board of Directors approved the recommendation at a meeting held on May 18, 2026. Under the Income Tax Act, 2025, dividend income is taxable in the hands of shareholders, and the company is required to deduct tax at source (TDS) at the time of payment. The applicable tax rates vary based on the residential status of the shareholder and the documentation provided.

Tax Deduction for Resident Shareholders

For resident shareholders, TDS is deducted at 10% if a valid PAN is registered and 20% if it is not. No tax is deducted for resident individuals if the total dividend during FY 2026-27 does not exceed ₹10,000 or if Form 121 is submitted along with a PAN copy. Resident non-individuals, such as insurance companies and mutual funds, are exempt from TDS upon submitting specific declarations and registration certificates.

Tax Deduction for Non-Resident Shareholders

Non-resident shareholders are subject to a withholding tax rate of 20%, plus applicable surcharge and cess, under domestic tax laws. They may opt for benefits under Double Tax Avoidance Agreements (DTAA) if more favorable. To claim DTAA benefits, non-resident shareholders must submit a Tax Residency Certificate (TRC), Form 41, and a self-declaration of no permanent establishment in India, among other documents.

Compliance and Documentation Deadlines

Shareholders must ensure their details, including PAN, residential status, and bank account information, are updated with their depository participants or the registrar, KFin Technologies Limited. To ensure the correct TDS rate is applied, shareholders are required to upload relevant documents to the registrar's website by 5:00 PM on August 15, 2026. The company clarified that no requests for tax revision will be entertained after this deadline.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd has re-engaged Pankaj Kanaiyalal Purohit as Executive Director on a fixed-term contractual basis effective June 12, 2026. The re-engagement follows his retirement from the company's services on May 31, 2026. The appointment is for an initial period of six months and may be extended for a further six months, subject to the approval of the Managing Director.

Purohit brings over 36 years of extensive experience in operations, process management, and service functions. During his tenure with Gujarat Narmada Valley Fertilizers & Chemicals Ltd , he held key positions across the Nitrophosphate Project, BSD, TDI-II Process at Dahej, Steam & Power Generation, and Urea plants. Most recently, he was responsible for the overall Operations & Maintenance (O&M) of the TDI-II Dahej site and associated service functions.

Profile and Background

Purohit is a Chemical Engineer from Dharamsinh Desai University, Nadiad. His previous responsibilities included oversight of Design & Consultancy, Laboratory & R&D, Civil Maintenance, Fire & Safety, Medical Centre, Neem Plant, ISD & Telecom, ECU, and S&R Club activities. The company stated there are no specific relationships to disclose regarding his appointment as a director.

The disclosure was made in accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted by Rajesh Pillai, Company Secretary & Compliance Officer.