This is to inform you that the Board of Directors of the Company at its Meeting held today, which commenced at 10.00 a.m. and concluded at 2.15 p.m. has considered the Audited Statement of Accounts for the financial year ended 31st December, 2017 and recommended payment of a final dividend of `15/- (Rupees Fifteen only) per Equity share of ` 10/- each. The total dividend proposed for the year 2017 (including interim dividend of `11/- per share paid in August 2017) stands at `26/- per share as compared to total dividend of `17/- per share paid in 2016.
A copy of the audited financial results for the year ended 31st December 2017 and a copy of the Media Release is enclosed.
In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated 27th May 2016, we hereby declare and confirm that the Statutory Auditors of the Company viz. Deloitte Haskins & Sells LLP, Chartered Accountants, have issued an Unmodified Audit Report on Standalone and Consolidated Financial Results of the Company for the year ended 31st December 2017. A copy each of their reports on the Financial Results is attached.
As the date for the 82nd Annual General Meeting of the Company has not yet been finalized by the Board, the record date and period of closure of the Register of Members and Share Transfer Books to determine the entitlement of shareholders for the final dividend, if approved by the shareholders will be informed to the Exchange in due course.
The Company had closed its trading window from Monday, 1st January, 2018 pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015 for those persons who are covered under the Company's Code and the same will open on Monday, 12th February 2018.