Page 266 - Arvind 2024

Notes to Consolidated Financial Statements for the year ended 31st March, 2024 (Amount in Rs. Lac, unless stated otherwise)
31 Share-based payments
The Group provides share-based payment schemes to its employees. During the year ended March 31, 2024, an employee stock option plan (ESOP) was in existence. The relevant details of the scheme and the grant are as below:
Employee Stock Option (ESOP) Scheme (2016)
The group instituted an Employees Stock Option Scheme (‘ESOP 2016’) pursuant to the approval of the shareholders of the company at their Annual General Meeting held on September 23, 2016. In accordance with the ESOP 2016 :
a. The group has on August 23, 2018, granted 3,70,000 options to the eligible employees of the company at an exercise price of Rs.158.30/-. The options under this grant would vest to the employees in the ratio of 25%, 25% and 50% on 1st year, 2nd year and 5th year respectively from the date of grant, based on continued service and certain performance parameters. These options can be exercised by the employees within period of five years from the date of respective vesting of options
b. The group has on 29th March, 2022, granted 4,50,000 options to the eligible employees of the company and subsidiaries, at an exercise price of Rs.194.05/-. The options under this grant would vest to the employees in the ratio of 40% and 60% on 2nd year and 3rd year respectively from the date of grant, based on continued service and certain performance parameters. These options can be exercised by the employees within period of five years from the date of respective vesting of options.
Expense recognised for employee services received during the year is shown in the following table:
Particulars
For the year 2022-23
124.09
Expense arising from equity-settled share-based payment transactions
Total
123.77
123.77
124.09
*There were no cancellations or modifications to the plan during the year ended March 31, 2024 or March 31, 2023.
Movement during the year:
The following table illustrates the number and weighted average exercise price of share the year:
Options
Outstanding at the beginning of the year
Exercised during the year Outstanding at the end of the year Exercisable at the end of the year weighted average share price at the exercise date
weighted average remaining contractual life ( In years )
options during
Particulars
March 31, 2024
March 31, 2023
ESOP Scheme 2016 (Tranch-1)
ESOP Scheme 2016 (Tranch-2)
ESOP Scheme 2016 (Tranch-1)
ESOP Scheme 2016 (Tranch-2)
3,70,000
4,50,000
-
32,000
3,70,000
4,18,000
3,70,000
1,48,000
3.39
-
666.85
6.99
3,70,000 4,50,000
- -
3,70,000 4,50,000
1,85,000 -
- -
4.39 7.99
The fair value of the share options is estimated at the grant date using Binomial Model taking into account the terms and conditions upon which the share options are granted and there are no cash settled alternatives for employees.
264 | Arvind SmartSpaces Limited
For the year 2023-24