Hero MotoCorp Limited has withheld the final dividend for FY26 from certain shareholders who have not updated their bank or Know Your Customer (KYC) details. The company cited regulatory changes mandating electronic dividend payments as the reason for the hold.

The disclosure was made on August 25, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The move affects shareholders whose records are incomplete or whose electronic payment attempts were rejected by banking systems.

Regulatory Context

SEBI amended its listing regulations effective November 19, 2025, discontinuing the payment of dividends through 'payable-at-par' warrants or cheques. Consequently, all dividend payments must now be remitted compulsorily through electronic mode.

Additionally, a series of SEBI circulars, culminating in a master circular dated February 6, 2026, mandated that security holders with physical shares must update their KYC details—including PAN, contact information, mobile number, and bank account details—to be eligible for any payments.

Reasons for Withholding

The company identified three primary categories for withholding the FY26 final dividend:

• Incomplete Bank Details: Shareholders whose registered bank details are missing or incomplete in depository records.
• Electronic Rejection: Cases where the company attempted to remit dividends electronically using available bank details, but the transaction was rejected by the banking system.
• Non-Submission of KYC: Holders of physical shares who have not furnished required KYC documents as mandated by SEBI circulars.

Action Required by Shareholders

Shareholders affected by these holds are requested to take immediate action to receive their dividends:

• Demat Holders: Update valid bank account details, including IFSC and MICR codes, with their Depository Participant (DP).
• Physical Holders: Submit duly filled Form ISR-1 for KYC updation, Form ISR-2 for banker attestation of signature, and Form SH-13 or ISR-3 for nomination updates to the Registrar and Share Transfer Agent (RTA), KFin Technologies Limited.

Once details are updated, shareholders must inform the RTA. The withheld dividends will be released in electronic mode only after confirmation is received.

What the Numbers Show

The withholding applies to dividends payable against shareholdings as on the record date of July 24, 2026. While specific aggregate amounts withheld are not disclosed in this filing, the action highlights a significant compliance shift for retail investors holding physical shares or maintaining outdated digital records.

Hero Motocorp 's bet on electric commercial vehicle maker Euler Motors is scaling rapidly, with the company doubling its sales and revenue while expanding its city network from 30-35 cities to 112 cities.

Rapid growth across key metrics

Euler Motors has recorded significant momentum across multiple operational parameters, supported by Hero Motocorp's backing. The electric CV maker has not only doubled its sales and revenue but has also expanded its manufacturing capacity to meet rising demand.

The following table summarises the key developments reported for Euler Motors:

Network and manufacturing scale-up

The expansion of Euler Motors' city presence from 30-35 cities to 112 cities marks a substantial geographic scale-up for the electric commercial vehicle maker. The growth in network coverage has been supported by Hero Motocorp's involvement, enabling the company to reach a significantly wider base of customers across India.

Alongside the network expansion, Euler Motors has also grown its manufacturing capacity, positioning the company to sustain the higher sales volumes it has achieved during this period of rapid scaling.