Integrated Annual Report 2024-25 402 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 3.6 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 options 6th November, 2024 ............................................................................................................................................................................................................... 3 years Rs. 2812.45 6th February, 2025 .................................................................................................................................................................................................................. 2 years Rs. 3059.26 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 and vesting period 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 payments. Consequently, share based payment expense recognised by the Company 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.111.49 crores) and included in salaries, wages and bonus, etc. 38. Capital management The Group’s capital management strategy is to effectively determine, raise and deploy capital so as to create value for its shareholders. The same is done through a mix of either equity and/or preference and/or convertible and/or combination of short term /long term debt as may be appropriate. The Group determines the amount of capital required on the basis of its product, capital expenditure, operations and strategic investment plans. The same is funded through a combination of capital sources be it either equity and/or preference and/or convertible and/or combination of short term/long term debt as may be appropriate. The capital structure is monitored on the basis of net debt to equity and maturity profile of overall debt portfolio of the Group. The retail loan finance business of the companies in financial service business is subject to the capital adequacy requirements of the Reserve Bank of India (RBI) and National Housing Bank (NHB). Under capital adequacy guidelines, these companies are required to maintain a capital adequacy ratio consisting of Tier I and Tier II Capital. The total of Tier II Capital at any point of time, shall not exceed 100 percent of Tier I Capital. The Group companies in the financial services business have complied with all regulatory requirements related to regulatory capital and capital adequacy ratios as prescribed by RBI and NHB. 37. Employee stock option plan (Continued)
RkJQdWJsaXNoZXIy NTE5NzY=