Patels Airtemp (India) Limited has scheduled its 34th Annual General Meeting (AGM) for Monday, September 14, 2026, to be conducted via Video Conferencing or Other Audio-Visual Means. The Board of Directors has recommended a final dividend of ₹3 per equity share of face value ₹10 each for the financial year ended March 31, 2026. This represents a payout of 30% on the face value of the shares.

Dividend and Record Date

The company has fixed August 21, 2026, as the record date to determine shareholders eligible for the dividend. If approved by shareholders at the AGM, the dividend will be paid electronically in accordance with SEBI Listing Regulations within 30 days from the date of the AGM.

Tax at Source (TDS) will be deducted from the dividend payment as per applicable rates under the Income Tax Act, 1961. Shareholders are advised to update their bank details and KYC information with their Depository Participants or the company to ensure seamless remittance. The last date for submission of TDS exemption forms was August 20, 2026.

E-Voting and Participation

Shareholders holding shares as on the cut-off date of September 7, 2026, are eligible to participate in the AGM and cast votes. Remote e-voting will be available from 9:00 am on Thursday, September 10, 2026, until 5:00 pm on Sunday, September 13, 2026. Votes cast during this period cannot be modified subsequently.

Members who have already voted remotely may attend the meeting but cannot vote again. The company has appointed Mr. Punit S. Lath, Practicing Company Secretary, as the scrutinizer for the voting process.

Annual Report Dispatch

In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, the company has dispatched letters to shareholders whose e-mail addresses are not registered with the Company, Registrar & Transfer Agent, or Depository Participants. These letters provide a weblink to access the Annual Report for FY 2025-26 on the company's website. Electronic copies of the Notice convening the AGM along with the Annual Report are being sent via email to all shareholders with registered e-mail addresses.

Patels Airtemp (India) Limited reported a net profit of ₹102.7 crore for the financial year ended March 31, 2026 (FY26), down from ₹165.1 crore in FY25. Revenue from operations contracted 34.8% year-on-year to ₹2,529.3 crore, compared to ₹3,878.2 crore in the previous fiscal. The decline in top-line growth was driven by lower domestic sales, which fell to ₹2,421.5 crore from ₹3,610.5 crore, while export revenue dropped sharply to ₹78.9 crore from ₹227.5 crore.

The Board of Directors recommended a final dividend of ₹3 per equity share (30% of face value) for FY26, maintaining the same payout ratio as FY25. This recommendation is subject to ratification by shareholders at the company’s 34th Annual General Meeting (AGM), scheduled for September 14, 2026. Upon approval, the dividend will be paid within 30 days. The record date for determining shareholder entitlement has been fixed as August 21, 2026.

Financial Performance and Operational Metrics

Profit before tax (PBT) stood at ₹139.0 crore in FY26, down from ₹218.8 crore in FY25. Total expenses decreased to ₹2,430.8 crore from ₹3,674.9 crore, reflecting the lower revenue base. Other income rose significantly to ₹40.4 crore from ₹15.5 crore, primarily due to higher interest income of ₹37.6 crore compared to ₹14.5 crore in the prior year.

The company’s order book remains robust, with confirmed orders valued at approximately ₹295 crore as of August 1, 2026. Management highlighted ongoing expansion initiatives, including the construction of an additional bay at the Dudhai Unit to enhance manufacturing capacity for vessels and heat exchangers from 200 MT to 350 MT.

Dividend and Tax Deduction Guidelines

Shareholders must ensure their holdings are reflected in the depository records by the close of business on August 21, 2026, to be eligible for the dividend. The payment will be subject to tax deduction at source (TDS) as per the Income Tax Act, 1961.

• Resident Individuals: Nil TDS if aggregate dividend income does not exceed ₹10,000 in Tax Year 2026-27 or if Form 121 is furnished. Otherwise, 10% TDS applies for shareholders with valid PAN.
• Non-Residents: TDS is applicable at 20% (plus surcharge/cess) or the treaty rate, whichever is beneficial. Category III Alternative Investment Funds located in International Financial Services Centres are subject to 10% TDS.

Documents such as Form 121 and Form 41 must be submitted to the Registrar and Transfer Agent, Bigshare Services Private Limited, or via Depository Participants by the record date. Late submissions will not be considered for tax rate determination.

What the Numbers Show

While revenue and profits declined significantly in FY26, the company maintained its dividend payout at ₹3 per share, signaling confidence in cash flows despite the cyclical downturn in orders. The substantial increase in other income, driven largely by interest receipts, partially offset the decline in operating margins. With a strong order book of ₹295 crore and capacity expansion underway at the Dudhai unit, the company is positioned to capitalize on future demand, particularly in domestic infrastructure and industrial sectors.