Employees' Stock Option Plans (ESOP) (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Summary of Share Option Grant |
The following is the summary of grants made during fiscal 2026, 2025 and 2024 under the 2015 Plan and 2019 Plan:
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Fiscal 2026 |
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Fiscal 2025 |
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Fiscal 2024 |
|
2015 Plan |
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|
|
|
|
|
|
RSU - Equity settled |
|
|
|
|
|
|
|
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KMPs |
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|
377,609 |
|
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|
380,842 |
|
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|
494,650 |
|
Employees other than KMPs |
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|
2,254,341 |
|
|
|
1,874,690 |
|
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|
4,644,720 |
|
|
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|
2,631,950 |
|
|
|
2,255,532 |
|
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|
5,139,370 |
|
|
|
|
|
|
|
|
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RSU - Incentive units (cash settled) |
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|
|
|
|
|
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|
KMPs |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Employees other than KMPs |
|
|
119,800 |
|
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|
94,050 |
|
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|
176,990 |
|
|
|
|
119,800 |
|
|
|
94,050 |
|
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|
176,990 |
|
|
|
|
|
|
|
|
|
|
|
2015 Plan: Employee Stock Options (ESOPs) |
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|
|
|
|
|
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|
Equity settled RSUs |
|
|
|
|
|
|
|
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|
KMPs |
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|
231,270 |
|
|
|
— |
|
|
|
— |
|
Employees other than KMPs |
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5,418,890 |
|
|
|
— |
|
|
|
— |
|
|
|
|
5,650,160 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
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|
Cash settled RSUs |
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|
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|
|
|
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|
KMPs |
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|
— |
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|
|
— |
|
|
|
— |
|
Employees other than KMPs |
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108,180 |
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|
|
— |
|
|
|
— |
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|
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|
108,180 |
|
|
|
— |
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|
|
— |
|
Total Grants under 2015 Plan |
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|
8,510,090 |
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2,349,582 |
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5,316,360 |
|
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|
|
|
|
|
|
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|
2019 Plan |
|
|
|
|
|
|
|
|
|
Equity settled Performance based RSU |
|
|
|
|
|
|
|
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|
KMPs |
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|
124,516 |
|
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|
117,699 |
|
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|
139,271 |
|
Employees other than KMPs |
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4,424,840 |
|
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|
3,626,646 |
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4,048,631 |
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4,549,356 |
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3,744,345 |
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4,187,902 |
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|
|
|
|
|
|
|
|
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Total grants under 2019 Plan |
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|
4,549,356 |
|
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|
3,744,345 |
|
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|
4,187,902 |
|
Refer to Note 2.20 for details on appointment and resignation of KMPs
|
| Schedule of Break-up of Employee Stock Compensation Expense |
Break-up of employee stock compensation expense:
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(Dollars in millions) |
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|
Year ended March 31, |
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2026 |
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2025 |
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|
2024 |
|
Granted to: |
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|
|
|
|
|
|
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|
KMP* |
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8 |
|
|
|
8 |
|
|
8 |
|
Employees other than KMP |
|
|
100 |
|
|
|
87 |
|
|
71 |
|
Total (1) |
|
|
108 |
|
|
|
95 |
|
|
|
79 |
|
(1) Cash settled stock compensation expense included in the above |
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|
2 |
|
|
|
2 |
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|
2 |
|
* Includes reversal of employee stock compensation expense on account of resignation / retirement of key managerial personnel
|
| Summary of Weighted Average Share Price of Option Exercised |
The weighted average share price of option exercised is set out as follows:
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|
2019 Plan |
|
2015 Plan |
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|
Year ended March 31, |
|
Year ended March 31, |
|
|
2026 |
|
2025 |
|
2024 |
|
2026 |
|
2025 |
|
2024 |
Weighted average share price of options exercised |
|
16.62 |
|
18.75 |
|
16.39 |
|
16.77 |
|
18.89 |
|
17.07 |
|
| Restricted Stock Units (RSUs) |
|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Summary of Fair Value estimated on Date of Grant |
The fair value of each equity settled award is estimated on the date of grant using the following assumptions:
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For options granted in |
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Fiscal 2026-
Equity
Shares-RSU |
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|
Fiscal 2026-
ADS- RSU |
|
Fiscal 2026-
Equity Shares-ESOP |
|
|
Fiscal 2026-
ADS-ESOP |
|
Weighted average share price (₹) / ($- ADS) |
|
|
1,641 |
|
|
|
17.55 |
|
|
1,554 |
|
|
|
17.93 |
|
Exercise price (₹)/ ($- ADS) |
|
|
5.00 |
|
|
|
0.10 |
|
|
1,554 |
|
|
|
17.93 |
|
Expected volatility (%) |
|
23-26 |
|
|
25-29 |
|
25-28 |
|
|
26-30 |
|
Expected life of the option (years) |
|
1-4 |
|
|
1-4 |
|
3-7 |
|
|
3-7 |
|
Expected dividends (%) |
|
2-3 |
|
|
2-3 |
|
2-3 |
|
|
2-3 |
|
Risk-free interest rate (%) |
|
6 |
|
|
4 |
|
6 |
|
|
4 |
|
Weighted average fair value as on grant date (₹) / ($- ADS) |
|
|
1,331 |
|
|
|
14.16 |
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|
390 |
|
|
|
4.09 |
|
|
|
|
|
|
|
|
|
|
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|
For options granted in |
|
|
|
Fiscal 2025-
Equity
Shares-RSU |
|
|
Fiscal 2025-
ADS- RSU |
|
Weighted average share price (₹) / ($- ADS) |
|
|
1,808 |
|
|
|
21.44 |
|
Exercise price (₹)/ ($- ADS) |
|
|
5.00 |
|
|
|
0.07 |
|
Expected volatility (%) |
|
21-26 |
|
|
23-28 |
|
Expected life of the option (years) |
|
1-4 |
|
|
1-4 |
|
Expected dividends (%) |
|
2-3 |
|
|
2-3 |
|
Risk-free interest rate (%) |
|
7 |
|
|
4-5 |
|
Weighted average fair value as on grant date (₹) / ($- ADS) |
|
|
1,555 |
|
|
|
18.20 |
|
|
|
|
|
|
|
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|
For options granted in |
|
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|
Fiscal 2024-
Equity
Shares-RSU |
|
|
Fiscal 2024-
ADS- RSU |
|
Weighted average share price (₹) / ($- ADS) |
|
|
1,588 |
|
|
|
19.19 |
|
Exercise price (₹)/ ($- ADS) |
|
|
5.00 |
|
|
|
0.07 |
|
Expected volatility (%) |
|
23-31 |
|
|
25-33 |
|
Expected life of the option (years) |
|
1-4 |
|
|
1-4 |
|
Expected dividends (%) |
|
2-3 |
|
|
2-3 |
|
Risk-free interest rate (%) |
|
7 |
|
|
4-5 |
|
Weighted average fair value as on grant date (₹) / ($- ADS) |
|
|
1,317 |
|
|
|
16.27 |
|
|
| 2015 Stock Incentive Compensation Plan |
|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Schedule of Equity Settled Share Based Payment Transaction |
The activity in the 2015 Plan and 2019 Plan for equity-settled share based payment transaction during fiscal 2026 is set out below:
|
|
|
|
|
|
|
|
|
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|
Year ended March 31, 2026 |
|
|
|
Shares arising
out of options |
|
|
Weighted average
exercise price($) |
|
2015 Plan: RSUs |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
7,259,464 |
|
|
|
0.06 |
|
Granted |
|
|
2,631,950 |
|
|
|
0.10 |
|
Exercised |
|
|
1,865,144 |
|
|
|
0.10 |
|
Forfeited and expired |
|
|
646,821 |
|
|
|
0.10 |
|
Outstanding at the end |
|
|
7,379,449 |
|
|
|
0.10 |
|
Exercisable at the end |
|
|
1,043,401 |
|
|
|
0.10 |
|
2015 Plan: Stock Options |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
17,554 |
|
|
|
5.83 |
|
Granted |
|
|
5,650,160 |
|
|
|
17.84 |
|
Exercised |
|
|
14,728 |
|
|
|
5.63 |
|
Forfeited and expired |
|
|
291,820 |
|
|
|
17.91 |
|
Outstanding at the end |
|
|
5,361,166 |
|
|
|
17.54 |
|
Exercisable at the end |
|
|
28,096 |
|
|
|
15.27 |
|
2019 Plan: RSUs |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
8,072,635 |
|
|
|
0.06 |
|
Granted |
|
|
4,549,356 |
|
|
|
0.10 |
|
Exercised |
|
|
1,453,412 |
|
|
|
0.10 |
|
Forfeited and expired |
|
|
745,697 |
|
|
|
0.10 |
|
Outstanding at the end |
|
|
10,422,882 |
|
|
|
0.10 |
|
Exercisable at the end |
|
|
2,353,433 |
|
|
|
0.10 |
|
The activity in the 2015 Plan and 2019 Plan for equity-settled share based payment transaction during fiscal 2025 is set out below:
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, 2025 |
|
|
|
Shares arising
out of options |
|
|
Weighted average
exercise price($) |
|
2015 Plan: RSUs |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
8,076,058 |
|
|
|
0.06 |
|
Granted |
|
|
2,255,532 |
|
|
|
0.06 |
|
Exercised |
|
|
2,080,865 |
|
|
|
0.06 |
|
Forfeited and expired |
|
|
991,261 |
|
|
|
0.06 |
|
Outstanding at the end |
|
|
7,259,464 |
|
|
|
0.06 |
|
Exercisable at the end |
|
|
629,138 |
|
|
|
0.06 |
|
2015 Plan: Stock Options |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
82,050 |
|
|
|
6.61 |
|
Granted |
|
|
— |
|
|
|
— |
|
Exercised |
|
|
61,672 |
|
|
|
6.77 |
|
Forfeited and expired |
|
|
2,824 |
|
|
|
5.90 |
|
Outstanding at the end |
|
|
17,554 |
|
|
|
5.83 |
|
Exercisable at the end |
|
|
17,554 |
|
|
|
5.83 |
|
2019 Plan: RSUs |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
8,023,855 |
|
|
|
0.06 |
|
Granted |
|
|
3,744,345 |
|
|
|
0.06 |
|
Exercised |
|
|
1,514,356 |
|
|
|
0.06 |
|
Forfeited and expired |
|
|
2,181,209 |
|
|
|
0.06 |
|
Outstanding at the end |
|
|
8,072,635 |
|
|
|
0.06 |
|
Exercisable at the end |
|
|
770,321 |
|
|
|
0.06 |
|
The activity in the 2015 Plan and 2019 Plan for equity-settled share based payment transaction during fiscal 2024 is set out below:
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, 2024 |
|
|
|
Shares arising
out of options |
|
|
Weighted average
exercise price($) |
|
2015 Plan: RSUs |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
5,408,018 |
|
|
|
0.06 |
|
Granted |
|
|
5,139,370 |
|
|
|
0.06 |
|
Exercised |
|
|
1,815,025 |
|
|
|
0.06 |
|
Forfeited and expired |
|
|
656,305 |
|
|
|
0.06 |
|
Outstanding at the end |
|
|
8,076,058 |
|
|
|
0.06 |
|
Exercisable at the end |
|
|
831,050 |
|
|
|
0.06 |
|
2015 Plan: Stock Options |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
134,030 |
|
|
|
6.44 |
|
Granted |
|
|
— |
|
|
|
— |
|
Exercised |
|
|
51,980 |
|
|
|
6.03 |
|
Forfeited and expired |
|
|
— |
|
|
|
— |
|
Outstanding at the end |
|
|
82,050 |
|
|
|
6.61 |
|
Exercisable at the end |
|
|
82,050 |
|
|
|
6.61 |
|
2019 Plan: RSUs |
|
|
|
|
|
|
Outstanding at the beginning |
|
|
7,222,038 |
|
|
|
0.06 |
|
Granted |
|
|
4,187,902 |
|
|
|
0.06 |
|
Exercised |
|
|
1,695,705 |
|
|
|
0.06 |
|
Forfeited and expired |
|
|
1,690,380 |
|
|
|
0.06 |
|
Outstanding at the end |
|
|
8,023,855 |
|
|
|
0.06 |
|
Exercisable at the end |
|
|
814,798 |
|
|
|
0.06 |
|
|
| Schedule of Equity Settled RSUs and Stock Options Outstanding |
The following table summarizes information about equity settled RSUs and stock options outstanding as of March 31, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 Plan - Options outstanding |
|
2015 Plan - Options outstanding |
Range of exercise prices per share ($) |
|
No. of shares
arising out
of options |
|
Weighted
average
remaining
contractual life |
|
Weighted
average
exercise
price ($) |
|
No. of shares
arising out
of options |
|
Weighted
average
remaining
contractual life |
|
Weighted
average
exercise
price ($) |
American Depositary Share (ADS) and Indian Equity Shares (IES) |
|
|
|
|
|
|
|
|
|
|
|
|
0 - 0.1 (RSUs) |
|
10,422,882 |
|
1.19 |
|
0.10 |
|
7,379,449 |
|
1.37 |
|
0.10 |
5 - 19 (Stock Options) |
|
— |
|
— |
|
— |
|
5,361,166 |
|
7.17 |
|
17.54 |
The following table summarizes information about equity settled RSUs and stock options outstanding as of March 31, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019 Plan - Options outstanding |
|
|
2015 Plan - Options outstanding |
|
Range of exercise prices per share ($) |
|
No. of shares
arising out
of options |
|
|
Weighted
average
remaining
contractual life |
|
|
Weighted
average
exercise
price ($) |
|
|
No. of shares
arising out
of options |
|
|
Weighted
average
remaining
contractual life |
|
|
Weighted
average
exercise
price ($) |
|
American Depositary Share (ADS) and Indian Equity Shares (IES) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0 - 0.06 (RSUs) |
|
|
8,072,635 |
|
|
|
1.23 |
|
|
|
0.06 |
|
|
|
7,259,464 |
|
|
|
1.51 |
|
|
|
0.06 |
|
5 - 8 (Stock Options) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
17,554 |
|
|
|
0.58 |
|
|
|
5.83 |
|
|