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Voltas Limited announced its 71st Annual General Meeting (AGM) will be held on Tuesday, 8 July 2025, at 1:00 p.m. (IST) through Video Conferencing / Other Audio Visual Means.

The agenda for the AGM includes:

• Adoption of the Audited Standalone and Consolidated Financial Statements for the financial year ended 31 March 2025.
• Declaration of a dividend of ₹7/- per Equity Share of ₹1/- each for the financial year ended 31 March 2025.
• Re-appointment of Mr. Noel Tata and Mr. Saurabh Agrawal as Directors.
• Approval for payment of Long-Term Incentive to Mr. Pradeep Kumar Bakshi, Managing Director & Chief Executive Officer.
• Appointment of Mr. Mukundan C. P. Menon as the Managing Director, effective 1 September 2025, to hold office until 24 May 2027.
• Appointment of M/s. N L Bhatia & Associates as Secretarial Auditors for a term of five years commencing from 1 April 2025 up to 31 March 2030.
• Ratification of the remuneration of ₹7.00 lakh plus applicable taxes for M/s. Sagar & Associates as Cost Auditors for the financial year ending 31 March 2026.

The Record Date for determining the members entitled to receive the dividend for FY 2024-25 has been fixed as Friday, 20 June 2025. The dividend, if approved and declared, will be paid on or after Friday, 11 July 2025.

Voltas Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the Financial Year 2024-25. The report, available on the company's website as part of its Annual Report 2024-25, provides comprehensive disclosures on the company's environmental, social, and governance (ESG) performance.

Key highlights from the report include:

• Company Overview: Voltas Limited was incorporated on 06 September, 1954, with a paid-up capital of ₹ 33.08 crores. The BRSR is prepared on a standalone basis and has received reasonable assurance from S R B C & CO LLP.
• Business Activities: The company's primary business activity is Unitary Cooling Products (Room Air conditioners, Air Coolers, Commercial Refrigeration, and Commercial Air Conditioning), contributing 94.9% of its turnover. Electro-Mechanical Projects and Services account for the remaining 5.1%.
• Operations and Markets: Voltas operates with 5 plants and 37 offices nationally, serving 28 States and 8 Union Territories. Internationally, it has 6 offices across 20 countries. Exports contribute 0.5% to the total turnover. Main customers include households, commercial and industrial establishments, and Government Institutions.
• Workforce Details (as of FY 2024-25):
  • Total employees: 8,539 (7,884 male, 655 female).
  • Total workers: 6,061 (4,895 male, 1,166 female).
  • Differently abled employees: 5.
  • Women representation on the Board of Directors: 1 out of 10 (10.00%).
  • Permanent employee turnover rate: 20.40%.
• CSR and Financials: CSR is applicable for Voltas, with a turnover of ₹ 11,295.54 crores and a net worth of ₹ 8,119.96 crores.
• Grievance Redressal: In FY 2024-25, the company received 32 complaints from shareholders (2 pending, resolved subsequently), 21 from employees/workers (5 pending), 88.71 lakh complaints from customers (0.79 lakh pending), and 8 from value chain partners (0 pending).
• Material ESG Issues and Commitments: The report identifies 22 material responsible business conduct issues, including both risks and opportunities related to climate change, health & safety, talent development, sustainable supply chain, and corporate governance. Voltas aspires to achieve Net Zero emissions by 2045, and zero waste to landfill and water neutral for its operations by 2030.
• Governance and Policies: Voltas's policies cover all nine principles of the National Guidelines on Responsible Business Conduct (NGRBC) and are approved by the Board. These policies extend to value chain partners and are aligned with international standards like ISO 45001, ISO 9001, and UN SDGs. The Managing Director & CEO is responsible for BRSR implementation, with oversight from the Board-level S-H-E Committee and CSR Committee.
• Training and Ethics: The company conducts regular training and awareness programs on ethics, sustainability, and human rights for its Board, KMPs, employees, workers (100% coverage for KMPs, employees, and workers), and value chain partners (58.17% coverage by value of business).
• Financial Indicators: Accounts payable days for 2024-25 were 97 days (compared to 144 days in 2023-24). Sales to dealers/distributors accounted for 69.10% of total sales, and related party transactions comprised 1.06% of purchases and 3.19% of sales.

• Voltas Limited informed shareholders about the deduction of tax on dividend for the financial year 2024-25, following the abolition of Dividend Distribution Tax (DDT) effective from 1st April, 2020.
• The Board of Directors, in their meeting held on 7th May, 2025, recommended a dividend of ₹ 7.00 per Equity Share of Re. 1/- each (700%) for the financial year ended 31st March, 2025, subject to shareholder approval at the 71st Annual General Meeting (AGM) on 8th July, 2025.
• Tax will be deducted at source (TDS) at the time of dividend payment, with rates varying based on the residential status of shareholders and documents submitted.
• Resident shareholders with valid PAN registered with Depositories or Company's RTA will face a TDS rate of 10%, while those without PAN or with inoperative PAN due to Aadhaar non-linkage will face a 20% TDS rate.
• No tax will be deducted for resident individual shareholders if the total dividend to be paid in FY 2025-26 does not exceed ₹ 10,000 or if they provide Form 15G/15H, subject to eligibility.
• Non-resident shareholders, including FIIs/FPIs, will be subject to a 20% TDS rate plus applicable surcharge and cess, or the Tax Treaty Rate, whichever is lower, provided they submit required documents like PAN, Tax Residency Certificate (TRC), Form 10F, and a declaration of no Permanent Establishment in India and beneficial ownership.
• Shareholders must submit required tax-related documents by 20th June, 2025, to enable the Company to determine the appropriate TDS/withholding tax rate.
• Shareholders are requested to update their bank account details to ensure timely credit of dividend. Physical shareholders must update PAN and KYC details to receive dividends electronically.
• Contact information for Voltas Limited and MUFG Intime India Private Limited (RTA) is provided for further assistance.

• The Federal Tax Authority (FTA) of the UAE has raised a demand based on a VAT audit of Voltas' UAE branch for the period 2018-2022.
• The demand includes a VAT amount of AED 2,881 (approximately ₹0.01 crore).
• A penalty of AED 1,084,130 (approximately ₹2.51 crore) has been imposed according to UAE tax laws.
• The penalty communication was received on the FTA portal on 28 May 2025.
• Voltas is evaluating next steps, including filing an appeal.
• The company states that there is no material impact on the financials, operations, or other activities of the company due to this penalty.