Integrated Annual Report 2025-26 232 12. Shareholders holding more than 1% of the shares as on 31st March 2026 The details of public shareholders holding more than 1% (PAN-based) of the equity share capital as on 31st March 2026 was as follows: NON RECEIPT OF DIVIDEND % OF SHAREHOLDING NO OF SHARES Name of the Shareholders % of Shareholding No. of shares held Nippon Life India Trustee Ltd-A/C Nippon India ETF Ni y 50 Bees* 1.25% 1,84,11,827 NPS Trust A/C UTI Pension Fund Limited-Scheme State Govt* SBI Ni y 50 ETF* 3,66,07,257 2.41% Vanguard Emerging Markets Stock Index Fund, A Series of Vanguard International Equity Index Funds 128,94,338 1,34,07,218 1.04% 2,81,91,668 1.62% 7,82,69,976 6.29% 2.94% Life Insurance Corporation of India* Government of Singapore 2,00,74,420 1.48% Government Pension Fund Global 1,37,09,789 1.09% SBI Life Insurance Co. Ltd 1,36,10,916 1.08% Parag Parikh Flexi Cap Fund* Vanguard Total International Stock Index Fund 1,55,18,917 1.10% ICICI Prudential Large Cap Fund* 2,99,19,024 2.27% UTI Ni y 50 ETF* 2,01,10,795 1.61% * including sub-accounts 13. Dematerialisation of Shares and Liquidity 99.78% of the paid-up Ordinary (Equity) Share Capital of your Company is held in a dematerialised form with National Securities Depository Limited and Central Depository Services (India) Limited as on 31st March 2026. The market lot of the Share of your Company is one Share, as the trading in the Equity Share of your Company is permitted only in dematerialised form. The non-promoters’ holding as on 31st March 2026 is around 81.86% and the stock is highly liquid. The status as on 31st March 2026 is as under: 0.22% Physical 99.78% Dematerialized 14. Outstanding GDRs/ADRs/Warrants or any Convertible Instruments, Conversion date and likely impact on Equity 2,10,52,090 GDRs constituting 1.69% of the paid-up Equity Share Capital were outstanding as on 31st March 2026. Since the underlying Ordinary (Equity) Shares represented by GDRs have been allotted in full, the outstanding GDRs have no impact on the Equity of the Company. There are no other convertible instruments issued and outstanding as on 31st March 2026. 15. Shareholder’s Value Creation Your Company is committed to enhancing the Shareholder value through consistent financial performance and disciplined capital management. Supported by a strong earnings base, the Company has maintained an increasing trend in dividend payouts, reflecting its commitment to delivering stable and growing returns to shareholders while supporting future growth. The Dividend declared per share for the past 5 Financial Years along with the Dividend recommended for the Financial Year 2025-26 is as under: (in Rupees per share) 2024-25 2025-26 (Proposed) 2022-23 2021-22 2020-21 2023-24 8.75 11.55 16.25 21.1 25.3 33 16. Commodity price risk or Foreign Exchange Risk & hedging activities The Commodity prices in the Financial Year 2025-26 witnessed a mixed trend across different commodities. Steel prices declined in second quarter as overcapacity in China created surplus but then rose sharply in the last quarter since the Government extended safeguard duty on imports. Metals such as Aluminium, Copper, Platinum and Palladium saw steady increase in prices throughout the year driven by demand growth and/or supply constraints. Further, the conflict in West Asia during March 2026 caused significant volatility in the prices.
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