Mazagon Dock Shipbuilders Limited has announced the cessation of Shri Dattaprasad Prabhakar Kholkar as Non-Official Independent Director from its board, effective February 23, 2026. The cessation follows the completion of his designated 3-year tenure as an independent director.

Director Tenure Details

The company disclosed that Shri Kholkar was initially appointed as a Non-Official Independent Director on February 23, 2023, for a period of 3 years. His directorship has now concluded upon the natural expiry of this term.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has formally notified both the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) about this board change.

The disclosure was signed by Lalatendu Acharya, Company Secretary and Compliance Officer, and communicated to the stock exchanges on February 23, 2026. The company emphasized that this cessation represents the natural conclusion of the director's appointed term rather than any premature departure.

Company Information

Mazagon Dock Shipbuilders Limited, formerly known as Mazagon Dock Limited, operates as a Government of India undertaking. The company is headquartered at Dockyard Road, Mazagon, Mumbai, and maintains ISO 9001 certification. It trades on BSE under scrip code 543237 and on NSE under the symbol MAZDOCK.

Mazagon Dock Shipbuilders has declared its second interim dividend of ₹7.5 per share for the financial year 2025-26, with the board approving the distribution at its meeting held on February 5, 2026. The company has set Friday, February 13, 2026 as the record date for determining shareholder eligibility.

Dividend Declaration Details

The board of directors approved the second interim dividend of ₹7.5 per equity share of ₹5 each fully paid-up, marking another significant return to shareholders during the current financial year. The payment will be completed on or before March 7, 2026, as per the Companies Act, 2013.

Shareholder Eligibility and Tax Implications

Shareholders holding shares in either electronic or physical form as on the record date of February 13, 2026 will be eligible to receive the dividend. The company has provided comprehensive guidelines regarding tax deduction at source (TDS) on dividend payouts, as dividend income became taxable in shareholders' hands from April 1, 2020.

For resident individual shareholders, no TDS will be deducted if the total dividend received during financial year 2025-26 does not exceed ₹10,000. However, TDS at 10.00% will be applicable for amounts exceeding this threshold, provided valid PAN details are available.

Regulatory Compliance and Documentation

The company has informed both BSE Limited and National Stock Exchange of India Limited about the dividend declaration under regulation 42. Mazagon Dock Shipbuilders has also issued detailed guidelines for shareholders regarding required documentation for TDS exemptions or lower deduction rates.

Shareholders seeking TDS benefits must submit necessary documents to the registrar and transfer agent, Alankit Assignments Limited, by the record date. The company emphasized that no claims will be entertained after February 13, 2026 regarding tax-related matters for this dividend payment.