DIVIDEND POLICY

The declaration and payment of dividends on the Equity Shares will be recommended by our Board and
approved by our Shareholders at their discretion, subject to the provisions of our Articles of Association and the
Companies Act.

The Company may retain all its future earnings, if any, for use in the operations and expansion of its business.
The declaration of dividends, if any, in the future will depend on a number of factors that our Board deems
relevant, including but not limited to our Company’s profits, capital requirements, rate of dividend distribution
tax, accumulated reserves, earnings, outlook, financial commitments and financial requirements including
business expansion plans, applicable legal restrictions, cost of raising funds from alternate sources, cash flows,
other factors and any contractual obligations. In addition, the dividend, if any, will also depend on a number of
external factors including but not limited to applicable laws and regulations including taxation laws, economic
conditions, prevalent market practices, and technological changes.

Further, our shareholders should not expect dividend in certain circumstances including growth opportunities
which require our Company to allocate a significant amount of capital, in the event of a higher working capital
requirement for business operations or otherwise, inadequacy of cashflow available for distribution, inadequacy
or absence of profits, utilization of surplus cash for buyback of securities or setting off previous year losses,
prohibition to declare dividend by any regulatory body and other factors which may be considered relevant by
the Board. Our Company may also, from time to time, pay interim dividends.

In addition, our ability to pay dividends may be impacted by a number of factors, including restrictive covenants.
under the loan or financing arrangements our Company is currently availing of or may enter into to finance our
fund requirements for our business activities. For further details, see “Financial Indebtedness” on page 315.

The details of dividend declared on Equity Shares during the three immediately preceding Financial Years until
the date of filing of this Prospectus:

 

 

 

 

 

 

 

Financial Year/ Period Dividend for Equity Shares Amount (& in million)
September 1, 2021 until date 0.00 0.00
Five-month period ended August 0.00 0.00
31, 2021
2021 %1 per Equity Share 120.39
2020 0.00 0.00
2019 %1 per Equity Share 120.39

 

 

 

 

The amounts paid as dividends in the past are not necessarily indicative of our Company’s dividend policy or
dividend amounts, if any, in the future. See “Risk Factors — Our ability to pay dividends in the future will
depend on our earnings, financial condition, cash flows, capital requirements, capital expenditures and
restrictive covenants of our financing arrangements” on page 51.

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