MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

368 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS Average share price on the date of exercise of the options are as under: Date of exercise Weighted average share price (Rs.) 01 st April, 2021 to 10 th March, 2022. .................................................................................................................................. 814.30 Information in respect of options outstanding as at 31 st March, 2022 Range of exercise price Number of options Weighted average remaining life Rs. 2.50.............................................................................................................................. 8,06,277 2.70 years Rs. 5.00.............................................................................................................................. 51,10,223 5.51 years The fair values of options granted during the year are as follows: Grant Date No. of years vesting Fair value per options 29 th June, 2021.................................................................................................................. 7 years Rs. 731.48 01 st July, 2021.................................................................................................................... 7 years Rs. 715.34 08 th November, 2021. ....................................................................................................... 2 years Rs. 844.80 08 th November, 2021. ....................................................................................................... 3 years Rs. 838.66 08 th November, 2021. ....................................................................................................... 4 years Rs. 832.58 10 th February, 2022........................................................................................................... 5 years Rs. 789.15 14 th March, 2022............................................................................................................... 7 years Rs. 683.94 14 th March, 2022............................................................................................................... 3 years Rs. 700.74 14 th March, 2022............................................................................................................... 5 years Rs. 672.93 The fair value has been calculated using the Black Scholes Options Pricing Model and the significant assumptions made in this regard are as follows: Grant dated 29 th June, 2021 (7 years vesting) 01 st July, 2021 (7 years vesting) 08 th November, 2021 (2 years vesting) 08 th November, 2021 (3 years vesting) 08 th November, 2021 (4 years vesting) Risk free interest rate (%)............................................................ 6.28% 6.29% 4.85% 5.17% 5.45% Expected life (in years). ................................................................ 7 years 7 years 3 Years 4 Years 4 Years Expected volatility (%).................................................................. 31.58% 31.57% 39.46% 37.05% 35.01% Expected dividend yield (%). ....................................................... 1.10% 1.13% 1.00% 1.00% 1.00% Exercise Price (Rs.). ........................................................................ 5 5 5 5 5 Stock Price (Rs.).............................................................................. 793.50 777.70 872.85 872.85 872.85 Grant dated 10 th February, 2022 (5 years vesting) 14 th March, 2022 (7 years vesting) 14 th March, 2022 (3 years vesting) 14 th March, 2022 (5 years vesting) Risk free interest rate (%)........................................................................................ 6.23% 6.40% 5.70% 6.71% Expected life (in years). ............................................................................................ 6 Years 6 years 4 Years 7 Years Expected volatility (%).............................................................................................. 32.40% 32.62% 37.62% 31.44% Expected dividend yield (%). ................................................................................... 1.04% 1.19% 1.19% 1.19% Exercise Price (Rs.). .................................................................................................... 5 5 5 5 Stock Price (Rs.).......................................................................................................... 840.20 734.80 734.80 734.80 42. Employee Stock Option Plan (contd.)