Maithan Alloys Limited, a prominent player in the alloy manufacturing sector, has announced an early suspension of production at its Byrnihat Unit in Meghalaya. The company cited adverse market conditions and a steep increase in power costs as the primary reasons for this decision.

Early Closure

The production halt, initially scheduled for September 30, was implemented earlier than anticipated. Maithan Alloys fully suspended operations at the Byrnihat facility effective September 22, at 8:00 A.M. This decision comes more than a week ahead of the originally planned closure date.

Reasons for Suspension

Two main factors contributed to the company's decision to suspend production:

1. Adverse Market Conditions: The company faced challenging market dynamics, which likely impacted demand or pricing for its products.
2. Steep Increase in Power Costs: Meghalaya, where the Byrnihat Unit is located, has seen a significant rise in power costs, directly affecting the operational expenses of the facility.

Indefinite Suspension

Maithan Alloys has stated that the production suspension at the Byrnihat Unit is for an indefinite period. This suggests that the company will reassess the situation based on market conditions and power costs before deciding to resume operations.

Impact on Operations

The closure affects Maithan Alloys' operations in the state of Meghalaya. The Byrnihat Unit is one of the company's three manufacturing facilities, with the other two located in West Bengal and Andhra Pradesh.

Regulatory Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Maithan Alloys has duly informed the stock exchanges about this development.

This production suspension highlights the challenges faced by manufacturing companies in managing operational costs and adapting to changing market conditions. Stakeholders will be keenly watching for any updates on the duration of this suspension and its potential impact on Maithan Alloys' overall business performance.

Maithan Alloys , a prominent player in the alloys industry, has declared a final dividend of ₹16.00 per equity share. The company has set September 19, 2025, as the record date for determining shareholder eligibility for the dividend payout.

Key Dividend Details

• Dividend Amount: ₹16.00 per equity share
• Record Date: September 19, 2025
• Book Closure: September 20-27, 2025 (both days inclusive)

Tax Deduction at Source (TDS) Guidelines

Maithan Alloys has provided comprehensive guidelines for TDS on the dividend, which varies based on shareholder categories:

For Non-Resident Shareholders:

• Standard TDS Rate: 20% plus applicable surcharge and cess
• Option for Lower Rate: Non-residents can opt for the lower rate as per the Double Tax Avoidance Agreement (DTAA) between India and their country of residence, subject to providing necessary documentation

For Resident Shareholders:

• Individual Shareholders:
  • No TDS for annual dividends below ₹10,000.00
  • 10% TDS for dividends above ₹10,000.00
• Mutual Funds: 10% TDS, exemption available with proper documentation
• Insurance Companies: No TDS with valid self-declaration and IRDAI registration
• Alternative Investment Funds (Category I and II): 10% TDS, exemption possible with proper documentation

Important Dates and Documentation

• Document Submission Deadline: September 30, 2025
• Email for Document Submission: mdpldc@yahoo.com with a copy to rajesh@maithanalloys.com

Additional Information

• Shareholders without a valid PAN will face a higher TDS rate of 20%
• The company emphasizes the importance of linking Aadhaar with PAN to avoid higher tax deduction
• Dividend payments will be made electronically to registered bank accounts

Maithan Alloys has urged shareholders to update their bank details and submit necessary documents before the specified deadline to ensure smooth processing of dividend payments and appropriate tax deductions.

This announcement reflects Maithan Alloys' commitment to transparent communication with its shareholders regarding dividend distribution and tax implications. Investors are advised to consult with their tax advisors for personalized guidance on the tax provisions applicable to their specific situations.