Lumax Auto Technologies Limited has designated Mr. Sunil Shantaram Koparkar as Senior Management Personnel effective July 22, 2026. The Board of Directors approved the proposal through a circular resolution based on the recommendation of the Nomination and Remuneration Committee. Koparkar, who currently serves as the CEO of the Intelligent Ambient Comfort (IAC) Division, brings over four decades of experience to the role.

The disclosure was made under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that the appointment is a full-time engagement. The intimation is available on the company's official website.

Profile of the Appointee

Mr. Sunil Shantaram Koparkar holds a Master of Science in Mechanical Engineering from the University of Applied Sciences and Arts in Basel, Switzerland. He also holds a Diploma in Plastics Engineering from SBM Polytechnic, India, and has attended Bachelor of Engineering courses in Plastics Engineering from the University of Aachen, Germany.

Koparkar possesses over 40 years of experience in the automotive and plastics sectors across North America, Europe, and Asia. His career began in 1981, and he has held key leadership roles at Bright Brothers, HASCO GmbH, Symalit AG, ABC Group, Magna International, and Nishikawa Kasei. Previously, as a global operations leader at the IAC Group, he drove business growth and managed strategic M&A initiatives.

The company clarified that Koparkar is not related to any Director of Lumax Auto Technologies Limited.

Lumax Auto Technologies has established the tax deduction at source (TDS) framework for a dividend of ₹5.50 per share recommended for the financial year ended March 31, 2026. The dividend, subject to shareholder approval at the 45th Annual General Meeting (AGM) scheduled for August 26, 2026, will be paid to members whose names appear in the register of members as of the close of business on August 06, 2026. Shareholders must submit required documentation by August 03, 2026, to ensure the applicable TDS rate is applied, as failure to do so may result in higher tax deductions.

The Board of Directors recommended the dividend at a meeting held on May 29, 2026. Pursuant to the Income Tax Act, 2025, the company is required to withhold taxes on dividend payments. The applicable TDS rate varies based on the residential status and category of the shareholder. No tax will be deducted for resident individual shareholders if the total dividend during FY 2026-27 does not exceed ₹10,000.

TDS Rates for Resident Shareholders

For resident shareholders, the TDS rate is determined by the availability of a valid PAN and specific declarations. A standard rate of 10% applies if a valid PAN is updated with the depository participant or Registrar and Transfer Agent (RTA). This rate rises to 20% if the PAN is invalid or not linked with Aadhaar where applicable. Shareholders seeking nil or lower deduction must submit valid certificates or declarations, such as Form 121 for eligible individuals.

TDS Rates for Non-Resident Shareholders

Non-resident shareholders face different withholding rates, generally set at 20% plus surcharge and cess, unless a beneficial tax treaty rate applies. Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) can claim treaty benefits by submitting a Tax Residency Certificate (TRC), Form 41, and a self-declaration. Specific categories, such as Sovereign Wealth Funds and Pension funds notified under Schedule V, are subject to a NIL TDS rate provided they submit the necessary notification and self-declaration.

The company reserves the right to determine the applicable tax rate based on the completeness and verification of submitted documents. In case of discrepancies or missing information, tax will be deducted at the higher prescribed rate without further communication. Shareholders can download the tax credit statement from the Income Tax Department's website.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE872H01027/255451aec4d541de.pdf