The Board of Directors of Holding Company at its meeting held on 30 January 2019, approved an Employee Stock Options Scheme (‘ESOS’). Pursuant to the scheme stock options up to a maximum of 0.17% of the then issued equity capital of the Company aggregating to 5,000,000 equity shares of the face value of ₹ 10 each can be issued in a manner provided in the SEBI (Share Based Employee Benefits) Regulations, 2014 as amended. The shareholders of the Company vide their special resolution passed through postal ballot on 13 March 2019 approved the issue of equity shares of the Company under one or more Employee Stock Option Scheme(s).

The Nomination and Remuneration Committee of the Holding Company has approved the following grants to select senior level executives of the Company in accordance with the Stock Option Scheme. The details of grants made as of 31 March 2026 are given in below tables:

Method used for accounting for share based payment plan:

The Holding Company has used the fair value method to account for the compensation cost of stock options to employees. The fair value of options used are estimated on the date of grant using the Black Scholes model. The key assumptions used in Black Scholes model for calculating fair value as on the date of grants are:

For the year ended 31 March 2026, the Group has accounted expense of ₹ 70.60 crore as employee benefit expenses (See note 28) on the aforesaid employee stock option plan (Previous year ₹ 67.32 crore). The balance in employee stock option outstanding account is ₹ 163.58 crore as of 31 March 2026 (Previous year ₹ 99.44 crore).