UltraTech Cement Limited announced that Mrs. Alka Bharucha retired as an Independent Director on June 8, 2026, concluding her second term with the company. The Board of Directors acknowledged her long association and valuable contributions during her time on the Board.

Mrs. Bharucha's tenure ended in accordance with the relevant provisions governing her appointment, having served the full term envisaged for an Independent Director. The company confirmed that she demitted office upon the conclusion of this period.

The details of the change in directorship were disclosed to the stock exchanges. The filing noted that the cessation was due to retirement post the completion of the second term.

Details of Cessation

The information is also available on UltraTech Cement 's website.

UltraTech Cement has communicated the tax deduction at source (TDS) rates applicable to dividend distributions for FY2025-26, detailing the obligations for both resident and non-resident shareholders. The company specified that the tax withheld will depend on the shareholder's residential status and the availability of valid documentation such as Permanent Account Number (PAN) cards and tax residency certificates.

For resident shareholders, the TDS rate is set at 10% if a valid PAN is provided. However, the rate increases to 20% if the shareholder fails to provide a valid PAN or if the PAN is not linked with Aadhaar. Shareholders who have submitted a valid certificate under Section 395(1) of the Income Tax Act for a lower or nil deduction rate will have TDS applied accordingly. The company noted that shareholders holding shares under multiple accounts with a single PAN may have the higher applicable tax rate considered on their entire holding.

Non-resident shareholders, including Foreign Institutional Investors and Foreign Portfolio Investors, will face a standard withholding rate of 20% plus applicable surcharge and cess. To avail of more beneficial rates under the Double Taxation Avoidance Agreement (DTAA), these shareholders must provide a self-attested copy of their PAN card, if allotted, and a Tax Residency Certificate (TRC) valid for the period from April 1, 2026, to March 31, 2027. If the required documents are not submitted, the higher 20% rate plus surcharge and cess will apply.

The company emphasized the importance of updating records, stating that it is obligated to deduct tax based on records available with depositories or the Registrar and Transfer Agent. Shareholders holding shares in dematerialised mode must update their residential status, PAN, and email details with their depository participants, while those holding physical shares must submit updates to KFin Technologies Limited. UltraTech Cement clarified that no changes to these details will be accepted on the record date, nor will revisions to TDS returns be permitted.

In cases where tax is deducted at a higher rate due to missing or defective details, shareholders must claim refunds while filing their income tax returns. The company stated that no claims for such taxes deducted will lie against UltraTech Cement. Furthermore, shareholders are responsible for indemnifying the company against any income tax demands arising from misrepresentation or inaccuracies in the information provided.

Applicable TDS Rates for Shareholders