JSW Steel has fixed Tuesday, July 7, 2026, as the record date to determine shareholder eligibility for a dividend of ₹7.10 per share for the financial year ended March 31, 2026. The payout, recommended by the Board of Directors on May 14, 2026, is subject to approval at the upcoming 32nd Annual General Meeting. Shareholders must ensure their details are updated with the Registrar and Transfer Agent by the record date to facilitate the correct Tax Deduction at Source (TDS) processing.

The dividend will be paid to equity shareholders holding fully paid-up shares with a face value of Re.1 each as of the record date. Under the provisions of the Income Tax Act, 2025, dividends are taxable in the hands of shareholders, and the company is required to deduct tax at source at the time of payment. To determine the appropriate withholding tax rate, all shareholders must update mandatory information through their Depository Participant or with the Registrar and Transfer Agent.

Key details required include residential status, Permanent Account Number (PAN), Aadhaar number for individuals, shareholder category, email address, address, contact number, and bank account details. The company will rely on the data available on the record date to compute TDS liabilities. Shareholders holding shares in physical form must submit these details to receive dividends, which are paid only via electronic mode.

The applicable TDS rates vary based on the shareholder's category and documentation. For resident individuals, TDS will not apply if the aggregate dividend distributed during the tax year 2026-27 does not exceed ₹10,000 or if Form 121 is submitted. Other resident shareholders are subject to a 10% TDS if a valid PAN is provided. If the PAN is invalid or not linked with Aadhaar, the tax deduction rate increases to 20%. Specific categories such as insurance companies, mutual funds, and Alternative Investment Funds (AIF) can claim nil or lower deductions by submitting valid self-declarations and supporting documents.

Non-resident shareholders and foreign companies face a standard withholding tax rate of 20%, plus applicable surcharge and cess. However, they may opt for benefits under the Double Taxation Avoidance Agreement (DTAA) if more favorable. To avail of treaty benefits, non-resident shareholders must submit a self-attested copy of their PAN, a valid Tax Residency Certificate (TRC) for the tax year 2026-27, and the electronically filed Form 41. The company emphasized that the application of beneficial DTAA rates depends on the completeness and satisfactory review of the submitted documents.

Shareholders seeking lower or nil TDS rates must provide a valid certificate issued under Section 395(1) of the Income Tax Act. All required documents, including self-declarations and certificates, must be uploaded with the Registrar and Transfer Agent, KFin Technologies Limited, via the specified portal not later than July 13, 2026. The company clarified that no communication regarding tax determination would be entertained after this deadline. If tax is deducted at a higher rate due to missing or defective details, shareholders can claim a refund while filing their income tax returns.

JSW Steel reported crude steel production of 22.93 lakh tonnes for May 2026, representing a 15% increase on a year-over-year basis. The performance underscores the company's continued operational momentum during the period, even as one of its key production units at the Vijayanagar facility remains temporarily offline for a planned upgrade.

May 2026 Production Performance

The following table summarises JSW Steel's crude steel production for May 2026 against the year-ago period:

The 15% year-over-year growth in crude steel output highlights the scale of production activity maintained by the company during the month.

Blast Furnace 3 Shutdown at Vijayanagar

JSW Steel has shut down Blast Furnace 3 at its Vijayanagar plant for capacity upgrades. The furnace is scheduled to restart in mid-June 2026 upon completion of the upgrade work. The planned shutdown is part of the company's ongoing efforts to enhance production capacity at the Vijayanagar facility.

The temporary outage of Blast Furnace 3 is a scheduled maintenance and upgrade activity, with operations expected to resume at the Vijayanagar plant once the enhancement work is concluded by mid-June 2026.