Date: 24th September, 2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results

Not Specified

Auditor’s Report

Not Specified

Disinvestment / Strategic Actions

Not Specified

Other Operational / Legal / Strategic Disclosures

ESOP Exercise and Allotment Details

  • The Nomination and Remuneration Committee approved the exercise of options and consequent allotment of equity shares at its meeting held on 24th September, 2026
  • The exercise relates to Scheme I - SMEL Performance ESOP Scheme (ESOP I - 2023)
  • Total options granted: 8,76,738 options to 63 eligible employees
  • Options exercised: 1,725 options by 1 eligible employee
  • Money realized: ₹5,62,453 (Rupees Five Lakh Sixty Two Thousand Four Hundred and Fifty Three Only)
  • Shares allotted: 1,725 equity shares of face value ₹10 each (1 option = 1 share)
  • Options lapsed: Nil
  • Variation in terms of options: No variation

ESOP Scheme Details

  • Scheme name: SMEL Employee Stock Incentive Plan - 2023 (ESIP - 2023)
  • Sub-plan: SMEL Performance ESOP Scheme (ESOP I - 2023)
  • Compliance: Scheme complies with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
  • Administration: Scheme administered via ESOP Trust which purchases shares from secondary market
  • Lock-in: No lock-in period for allotted shares

Pricing and Vesting Details

  • Grant pricing: Options granted at 25% discount to market price
  • 62 employees at ₹326 per option (based on market price on 25th September, 2023)
  • 1 employee at ₹331 per option (based on market price on 27th September, 2023)
  • Market price determination: Based on NSE closing price (higher volume exchange) on previous trading day
  • Vesting schedule:
  • 20% vesting on first anniversary of grant date
  • 23% vesting on second anniversary of grant date
  • 23% vesting on third anniversary of grant date
  • 34% vesting on fourth anniversary of grant date
  • Vesting date: Options vested with effect from 25th and 27th September, 2025
  • Exercise period: Vested options may be exercised within 1 year from commencement of respective vesting period

Additional Information

  • Diluted EPS impact: Not applicable
  • Subsequent changes: Not applicable
  • Disclosure uploaded on company website: www.shyammetalics.com