MAHINDRA & MAHINDRA LTD. Standalone Accounts 321 37. Employee Stock Option Plan (contd.) Average share price on the date of exercise of the options are as under: Date of exercise Weighted average share price (Rs.) 1st April, 2024 to 24th March, 2025................................................................................................................................................................................................................ 2,822.50 Information in respect of options outstanding as at 31st March, 2025 Range of exercise price Number of options Weighted average remaining life Rs. 2.50*.................................................................................................................................................................................................................. 44,113 0.86 years Rs. 5.00................................................................................................................................................................................................................... 39,94,051 3.60 years * adjusted for the effect of bonus The fair values of options granted during the year are as follows: Grant Date No. of Years vesting Fair value per option 6th November, 2024........................................................................................................................................................................................... 3 years Rs. 2,812.45 6th February, 2025.............................................................................................................................................................................................. 2 years Rs. 3,059.26 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 date & Vesting period Particulars 6th November, 2024 (3 years vesting) 6th February, 2025 (2 years vesting) Risk free interest rate............................................................................................................................................................................................. 6.65% 6.54% Expected life.................................................................................................................................................................................................................. 4 years 5.6 Years Expected volatility..................................................................................................................................................................................................... 30.31% 33.64% Expected dividend yield............................................................................................................................................................................................ 0.73% 0.66% Exercise Price (Rs.) .................................................................................................................................................................................................. 5 5 Stock Price (Rs.) ........................................................................................................................................................................................................ 2,899.45 3,178.75 Stock options granted to employees are accounted in accordance with the requirements of IND AS 102 - Share based payment. Consequently, share based payment expense recognised in profit or loss after adjusting for reversals on account of options forfeited amounted to Rs. 105.87 crores for the year ended 31st March, 2025 (2024: Rs. 111.61 crores) and included in salaries, wages and bonus, etc. The amount excludes Rs. 15.27 crores (2024: Rs. 10.25 crores) charged to subsidiaries for options issued to / held by their employees.
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