BHEL Issues Notice for 62nd Annual General Meeting; Proposes 70% Dividend and Board Appointments

New Delhi, July 10, 2026: Bharat Heavy Electricals Limited (BHEL), India's leading public sector engineering and manufacturing company, has announced that its 62nd Annual General Meeting (AGM) will be held on Wednesday, August 5, 2026, at 10:00 AM (IST) through Video Conferencing (VC) and Other Audio-Visual Means (OAVM).

The company has dispatched the AGM notice electronically to eligible shareholders and filed the disclosure with the stock exchanges in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Final Dividend of ₹1.40 Per Share Recommended

One of the key agenda items before shareholders is the approval of the final dividend of 70%, equivalent to ₹1.40 per equity share of face value ₹2 each, for the financial year ended March 31, 2026.

If approved during the AGM, the dividend will be paid within 30 days from the date of declaration to shareholders whose names appear in the company's records on the record date of July 17, 2026.

Seven Resolutions to Be Considered

Shareholders will vote on seven ordinary resolutions, covering both routine and special business.

Ordinary Business

The AGM agenda includes:

• Adoption of the audited standalone and consolidated financial statements for FY 2025-26.

• Approval of the final dividend for FY 2025-26.

• Re-appointment of Rajesh Kumar Dwivedi (DIN: 10048893) as Director after retirement by rotation.

• Re-appointment of Serugulathur Mahadevan Ramanathan (DIN: 11084884) as Director after retirement by rotation.

• Authorization to the Board to determine the remuneration of statutory auditors for FY 2026-27.

Special Business

The meeting will also seek shareholder approval for:

• Ratification of ₹17.36 lakh remuneration payable to the company's Cost Auditors for FY 2026-27.

• Appointment of Ms. Nigar Fatima Husain (DIN: 11688785) as Director after her appointment as an Additional Director in April 2026.

Appointment of Nigar Fatima Husain

Ms. Nigar Fatima Husain currently serves as Additional Secretary and Financial Advisor in the Ministry of Commerce & Industry and the Ministry of Heavy Industries.

An officer of the 1996 batch Indian Defence Estates Service, she has previously held senior positions in the Defence Estates Organization and multiple central government ministries. As a Government nominee on the BHEL Board, she does not receive remuneration from the company.

E-Voting Schedule

BHEL has enabled shareholders to participate through the NSDL electronic voting platform.

The remote e-voting schedule is:

• Starts: August 2, 2026, at 9:00 AM

• Ends: August 4, 2026, at 5:00 PM

The cut-off date for determining voting eligibility is July 29, 2026.

Members who vote through remote e-voting can still attend the AGM virtually but cannot cast another vote during the meeting.

AGM to Be Conducted Entirely Online

Following the Ministry of Corporate Affairs' circulars permitting virtual shareholder meetings, the AGM will be conducted entirely through video conferencing.

Since the meeting is virtual:

• No physical attendance will be allowed.

• Proxy appointment is not applicable.

• Shareholders joining through VC will be counted for quorum purposes.

TDS Rules on Dividend Explained

Alongside the AGM notice, BHEL has also issued a detailed communication regarding Tax Deducted at Source (TDS) on dividend payments.

Resident shareholders with a valid PAN will generally face 10% TDS, while higher tax may apply if PAN details are unavailable or inoperative.

Individual resident shareholders whose total dividend during FY 2026-27 does not exceed ₹10,000 may not attract TDS. Eligible shareholders can also submit the prescribed declaration forms to claim exemption, subject to applicable tax provisions.

Non-resident shareholders intending to claim benefits under Double Taxation Avoidance Agreements (DTAA) must submit the required tax residency and supporting documents before the specified deadline.

Shareholders Asked to Update KYC and Bank Details

BHEL has urged shareholders to ensure that their:

• PAN details

• Email address

• Mobile number

• Bank account information

• Nomination details

are updated with their Depository Participants or the Registrar and Transfer Agent to facilitate electronic dividend payments and regulatory compliance.

Cost Auditor Remuneration

The Board has proposed a total remuneration of ₹17.36 lakh for eight Cost Audit firms appointed to audit various manufacturing units during FY 2026-27. Shareholders will ratify this remuneration during the AGM, as required under the Companies Act, 2013.

Why This AGM Matters

The 62nd AGM comes at an important stage for BHEL as the company continues strengthening its engineering, manufacturing, and power-sector business while maintaining shareholder returns through dividends. Besides approving financial statements and dividend, investors will decide on key governance matters, including board appointments and auditor remuneration.

With the meeting being held completely online and supported by electronic voting, shareholders across India can participate conveniently in the company's decision-making process.

Source: Official Shareholder Notification, Bharat Heavy Electricals Limited (Notice No. AA/SCY/AGM 62) (Issued: July 10, 2026).