The Nomination and Remuneration Committee (NRC) of the company, at its meeting held on June 25, 2026, considered and approved the exercise of options and the consequent allotment of equity shares based on fresh exercise requests received from eligible employees.

The options exercised were part of Scheme I - SMEL Performance ESOP Scheme (ESOP I - 2023). The scheme is in terms of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Key Details of the ESOP Scheme and Exercise:

  • Total Options Covered: 8,76,738 equity shares of face value of ₹10 each.
  • Pricing Formula: Options were granted to 62 employees at ₹326 per share (a 25% discount on the market price on September 25, 2023) and to 1 employee at ₹331 per share (a 25% discount on the market price on September 27, 2023). The market price was determined as the latest available closing price on the National Stock Exchange of India Limited on the previous trading day immediately preceding the grant approval date (September 24, 2023, and September 26, 2023, respectively).
  • Exercise Period: Vested options may be exercised within a period of 1 year from the commencement of the respective vesting period.
  • Vesting Schedule: Options vest over four years: 20% on the first anniversary of the grant date, 23% on the second anniversary, 23% on the third anniversary, and 34% on the fourth anniversary.
  • Options Vested: Options vested with effect from September 25, 2025, and September 27, 2025.
  • Options Exercised: 17,891 options were exercised by 5 eligible employees from June 16, 2026, to June 25, 2026.
  • Money Realized: ₹58,33,539.46 (Rupees Fifty Eight Lakh Thirty Three Thousand Five Hundred Thirty Nine and Forty Six Paise) was realized from the exercise.
  • Shares Allotted: 17,891 equity shares were allotted (1 option = 1 share).
  • Options Lapsed: Nil
  • Variation in Terms: No variation
  • Subsequent Changes: Not Applicable
  • Diluted EPS Impact: Not Applicable

Significant Terms of the Scheme:

  • The scheme is administered via an ESOP Trust which purchases shares from the secondary market to facilitate exercises.
  • Grant of options is based on eligibility criteria determined by the NRC.
  • Equity shares allotted upon exercise are not subject to any lock-in period.

The disclosure has been uploaded on the company's website at www.shyammetalics.com.