annual-report-FY2021

369 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2020-21 38. Segment Information (contd.) Geographical information The Group operates in principal geographical areas – India (country of domicile), and Overseas. The Group’s revenue from continuing operations from external customers and information about its non-current assets by geographical location are detailed below: For the year Ended 31 st March, As at 31 st March, Particulars 2021 2020 2021 2020 Revenue from contract with customers Other revenue Total external revenue Revenue from contract with customers Other revenue Total external revenue Non- Current assets Non- Current assets India............................................................. 49,115.01 12,621.43 61,736.44 50,197.03 12,023.39 62,220.42 30,421.97 28,557.85 Overseas...................................................... 12,392.74 148.60 12,541.34 13,085.61 75.90 13,161.51 3,050.23 12,508.93 61,507.75 12,770.03 74,277.78 63,282.64 12,099.29 75,381.93 33,472.20 41,066.78 The revenue information above is based on the location of the customer. The non-current assets in the above table represent Property, plant and equipment, Capital work-in-progress, Goodwill, Other intangible assets, Intangibles under development, Income tax assets (Net) and Other loan assets (Non-financial). Information about major customers During the year ended 31 st March, 2021 and 2020 respectively, revenues from transactions with a single external customer did not amount to 10 per cent or more of the Group’s revenues from external customers. 39. Employee Stock Option Plan The Company has allotted 55,24,219 Ordinary (Equity) Shares of Rs. 10 each, 10,00,000 Ordinary (Equity) Shares of Rs. 10 each, 1,73,53,034 Ordinary (Equity) Shares of Rs. 5 each, 19,11,628 Ordinary (Equity) Shares of Rs. 5 each and 52,00,000 Ordinary (Equity) Shares of Rs. 5 each in the years ended 31 st March, 2002, 31 st March, 2010, 31 st March, 2011, 31 st March, 2014 and 31 st March, 2015 respectively to the Mahindra & Mahindra Employees’ Stock Option Trust set up by the Company. The Trust holds these shares for the benefit of the employees and issues them to the eligible employees as per the recommendations of the Compensation Committee. Options granted under Mahindra & Mahindra Limited Employees Stock Option Scheme - 2000 (“2000 Scheme”) vest in 4 equal instalments on the expiry of 12 months, 24 months, 36 months and 48 months from the date of grant. The options may be exercised on any day over a period of five years from the date of vesting. Number of vested options exercisable is subject to a minimum of 50 or number of options vested whichever is lower. Options granted under Mahindra & Mahindra Limited Employees Stock Option Scheme - 2010 (“2010 Scheme”) vest in i) 5 equal instalments on the expiry of 12 months, 24 months, 36 months, 48 months and 60 months from the date of grant or ii) 4 instalments bifurcated as 20% on the expiry of 18 months, 20% on the expiry of 30 months, 30% on the expiry of 42 months and 30% on the expiry of 54 months or iii) 3 equal instalments on the expiry of 12 months, 24 months and 36 months or iv) 2 equal instalments on the expiry of 12 months and 24 months. The exercise period of above options range from 1 year to 5 years from the date of vesting. Number of vested options exercisable is subject to a minimum of 50 or number of options vested whichever is lower. Summary of stock options No. of stock options Weighted average exercise price (Rs.) Options outstanding on 1 st April, 2020.......................................................................... 66,34,672 4.46 Options granted during the year. .................................................................................. 11,08,032 5.00 Options forfeited/lapsed during the year...................................................................... 2,34,532 11.06 Options exercised during the year. ................................................................................ 17,28,702 3.36 Options outstanding on 31 st March, 2021...................................................................... 57,79,470 4.62 Options vested but not exercised on 31 st March, 2021. ............................................... 22,51,577 4.33