Mach Conferences & Events Limited, a leading provider of MICE (Meetings, Incentives, Conferences, Exhibitions) solutions, has announced a significant business win, securing multiple contracts worth ₹14.00 crores from prominent players in the cement and glass industries.

Contract Details

The newly acquired projects span prestigious destinations including Prague and Vienna, catering to approximately 900 participants. These contracts are slated for execution in the financial year 2025-26, marking a substantial addition to Mach Conferences & Events Limited's project pipeline.

Management's Perspective

Amit Bhatia, Chairman & Managing Director of Mach Conferences & Events Limited, expressed his enthusiasm about the new contracts. He stated, "These contracts reflect the trust and confidence these global giants place in our expertise and commitment to excellence. These partnerships reinforce our position as a leading player in the MICE sector."

Bhatia further emphasized the company's dedication to delivering innovative, world-class solutions that exceed client expectations and drive their success.

Company Profile

Mach Conferences & Events Limited boasts over 20 years of experience in the MICE industry. The company holds certifications from renowned bodies including IATA, ADTOI, IATO, JATA, and PATA. In the past three years alone, the company has successfully conducted over 300 large and medium-sized events, serving more than 30 elite brands.

Market Impact

This latest business development underscores Mach Conferences & Events Limited's strong market position and its ability to secure high-value contracts from industry leaders. The company's expertise in end-to-end MICE solutions continues to attract major clients, potentially setting the stage for future growth and expansion in the competitive events management sector.

As Mach Conferences & Events Limited prepares to execute these prestigious projects, the company remains focused on strengthening its market presence, enhancing client relationships, and delivering unparalleled service across all facets of the MICE industry.

Mach Conferences & Events Limited (MCEL) has announced a dividend of Rs. 1.00 per ordinary equity share, subject to shareholder approval. The company's Board of Directors has recommended this dividend, which represents a 10% return on the face value of Rs. 10.00 per share.

Key Details of the Dividend Announcement

• Dividend Amount: Rs. 1.00 per ordinary equity share
• Record Date: September 5
• Annual General Meeting: Scheduled for September 12
• Shareholder Approval: Required at the 21st Annual General Meeting

Tax Implications for Shareholders

Following the changes introduced by the Finance Act 2020, dividend income is now taxable in the hands of shareholders. As a result, MCEL is required to deduct tax at source (TDS) on dividend payments. The company has outlined the following TDS guidelines:

For Resident Shareholders:

• 10% TDS for shareholders with valid PAN
• 20% TDS for shareholders without valid PAN or unlinked Aadhaar
• Exemption from TDS for resident individuals receiving dividends below Rs. 10,000

For Non-Resident Shareholders:

• 20% TDS plus applicable surcharge and cess
• Potential benefits available under Double Taxation Avoidance Agreements (DTAA)

Important Dates and Documentation

Shareholders are advised to submit all relevant documents for tax exemptions by September 5. The company has emphasized that no requests for changes or updates will be accepted after this date.

Shareholder Communication

MCEL has sent detailed communications to shareholders whose email addresses are registered with the company or its Registrar and Share Transfer Agent, Skyline Financial Services Private Limited. This communication outlines the process and documentation required for claiming tax exemptions on dividends.

Company's Stance on Tax Compliance

Yashashvi Srivastava, Company Secretary & Compliance Officer of MCEL, stated in the LODR filing, "We request all shareholders to ensure that their details, including PAN, residential status, and category, are updated in their respective demat accounts maintained with Depository Participants."

The company has also advised shareholders to independently verify their eligibility for claiming DTAA benefits and to consult with qualified tax professionals for specific tax matters.

This dividend announcement demonstrates MCEL's commitment to delivering value to its shareholders while ensuring compliance with the latest tax regulations. Shareholders are encouraged to review the detailed guidelines provided by the company and take necessary actions to ensure proper tax treatment of their dividend income.