Rashtriya Chemicals & Fertilizers shareholders approved a special resolution to raise funds through a further public offer (FPO) of equity shares during the company's 48th Annual General Meeting held on September 25, 2026. The meeting also confirmed a final dividend of ₹1.34 per share alongside an interim dividend of ₹1 per share for FY26.

The virtual meeting, conducted via Video Conferencing/Other Audio-Visual Means, saw the adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026. Chairman Shivakumar Subramaniam addressed members on the company’s performance and industry outlook. The quorum was present throughout, and voting was conducted through remote e-voting and during the meeting.

Key resolutions passed

Shareholders voted on twelve business items, including director appointments and capital structure changes. The following table summarizes the critical resolutions:

Capital raising and governance changes

The approval for the further public offer marks a significant step in RCF’s capital allocation strategy, allowing the government undertaking to access additional equity capital from the market. Alongside this, shareholders authorized the issuance of secured or unsecured non-convertible debentures through private placement, providing flexible debt financing options.

Governance updates included the appointment of Dr. Krishna Kant Pathak as Government Nominee Director and the reappointment of existing directors retiring by rotation. The Memorandum of Association was amended to align with the Companies Act, 2013.

What the numbers show

The combined dividend payout of ₹2.34 per share represents a consistent return strategy, with the interim component accounting for approximately 43% of the total annual distribution. The simultaneous approval of both equity (FPO) and debt (NCDs) instruments indicates a dual-track approach to funding future capital expenditure or working capital needs, rather than relying solely on one form of financing.

Rashtriya Chemicals & Fertilizers has scheduled its 48th Annual General Meeting (AGM) for Friday, September 25, 2026, at 3:00 pm. The meeting will be conducted via Video Conferencing or Other Audio Visual Means, with remote e-voting commencing on Monday, September 21, 2026.

The Board of Directors previously approved a recommended final dividend of ₹1.34 per equity share for FY26 during its meeting on May 21, 2026. This payout is subject to shareholder approval at the upcoming AGM. It is in addition to an interim dividend of ₹1 per share already paid in March 2026.

Dividend Payout Details

The total dividend payout for FY26 combines the interim and final components. The company will deduct tax at source (TDS) on the final dividend payment in accordance with the Income Tax Act, 1961, as amended by the Finance Act, 2020.

Tax Deduction at Source (TDS) Guidelines

The company has issued detailed communication regarding TDS rates applicable to different categories of shareholders for the tax year 2026-27. Failure to provide a valid Permanent Account Number (PAN) or link it with Aadhaar will result in TDS deduction at a higher rate of 20% under Section 397(2) of the Act.

Resident Shareholders

For resident individuals, no TDS is deducted if the aggregate dividend income during the tax year does not exceed ₹10,000 or if a valid Form 121 is submitted. For other resident shareholders not covered under specific exemptions, the standard TDS rate is 10% with a valid PAN.

Key exemptions include Mutual Funds registered with SEBI, the Government, Category I and II Alternative Investment Funds (AIF), National Pension System Trust, and Insurance companies registered under IRDAI, all of which attract Nil TDS.

Non-Resident Shareholders

Foreign Institutional Investors (FII) and Foreign Portfolio Investors (FPI) are subject to a TDS rate of 20%, plus applicable surcharge and cess. Other non-resident shareholders also face a 20% TDS rate unless they avail benefits under relevant Double Taxation Avoidance Agreements (DTAA). To claim lower DTAA rates, non-residents must submit valid PAN details, Tax Residency Certificates, and self-declarations in Form 41.

Category III AIFs located in International Financial Services Centres (IFSC) are subject to a 10% TDS rate.

Document Submission Deadline

Shareholders must submit necessary documents, including Form 121 for resident individuals or DTAA-related declarations for non-residents, via the Registrar and Transfer Agent’s portal by Friday, September 18, 2026. Incomplete or unsigned forms will not be considered. The company will use income tax department functionality to verify if PANs are operative; inoperative PANs due to non-linking with Aadhaar will trigger the higher 20% TDS rate.

Book Closure and E-Voting Schedule

The Register of Members and Share Transfer Books will remain closed from Saturday, September 19, 2026, to Friday, September 25, 2026 (both days inclusive). This closure is for ascertaining eligibility for the final dividend payment.

Remote e-voting will commence on Monday, September 21, 2026, at 9:00 am and end on Thursday, September 24, 2026, at 5:00 pm. Central Depository Services (India) Limited (CDSL) is facilitating the e-voting process. Physical attendance is dispensed with, and proxy appointments are not available for this virtual meeting.

Board Appointments and AGM Agenda

The upcoming AGM will also address key board appointments and corporate governance matters. Shareholders will vote on the appointment of Shri Shivakumar Subramaniam as Chairman & Managing Director until July 31, 2030, and Dr. Krishna Kant Pathak as Government Nominee Director. Additionally, Shri Rajnikant Bhulabhai Tandel will be appointed as Independent Director.

The meeting will seek approval for a Further Public Offering (FPO) of equity shares aggregating up to ₹1,500 crore and the issuance of Non-Convertible Debentures (NCDs) up to ₹1,100 crore. These funds are intended for capital expenditure, business expansion, and general corporate purposes. The company also seeks approval to amend its Memorandum of Association to diversify into renewable energy, water management, and agro-based products.