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Stock-based compensation (Tables)

12 Months Ended

Mar. 31, 2022

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of options has been estimated on the dates of each grant using a binomial option pricing model with the following assumptions:

		Years ended March 31,
		2020		2021		2022
Dividend yield		0.61%-0.85%		0.61%		0.43%-0.46%
Expected volatility		15.30%-20.13%		20.13%-28.93%		21.71%-31.79%
Risk-free interest rate		5.81%-6.70%		4.63%-5.75%		4.99%-6.43%
Expected term (in years)		2.82-5.42		2.65-5.43		2.59-5.36

Schedule of Share-based Compensation, Stock Options, Activity

Activity in the options available to be granted under the employee stock option scheme is as follows:

		Number of options available to be granted year ending March 31,
		2020				2021				2022
Options available to be granted, beginning of period			202,413,370				159,487,350				104,694,170
Equity shares allocated for grant under the plan			—				—				—
Options granted			(47,773,600	)			(57,466,600	)			(25,628,600	)
Forfeited/lapsed			4,847,580				2,673,420				2,926,850
Options available to be granted, end of period			159,487,350				104,694,170				81,992,420

Activity in the options outstanding under the employee stock option scheme is as follows:

		Years ended March 31,
		2020								2021								2022
		Options				Weighted average exercise price				Options				Weighted average exercise price				Options				Weighted average exercise price
Options outstanding, beginning of period			136,612,822			Rs.	682.99				142,865,602			Rs.	899.03				168,168,760			Rs.	1,063.79
Granted			47,773,600				1,220.13				57,466,600				1,235.80				25,628,600				1,427.29
Exercised			(36,673,240	)			504.10				(29,490,022	)			596.85				(32,764,494	)			796.52
Forfeited			(4,813,580	)			965.64				(2,032,110	)			1,163.29				(2,639,100	)			1,231.84
Lapsed			(34,000	)			568.10				(641,310	)			929.57				(287,750	)			870.34
Options outstanding, end of period			142,865,602			Rs.	899.03				168,168,760			Rs.	1,063.79				158,106,016			Rs.	1,175.65
Options exercisable, end of period			64,464,392			Rs.	638.18				64,453,260			Rs.	834.48				65,321,116			Rs.	1,036.49
Weighted average fair value of options granted during the year						Rs.	305.78							Rs.	320.42							Rs.	415.12

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following summarizes information about stock options outstanding as of March 31, 2022:

As of March 31, 2022

Plan

Range of exercise price

Number of shares arising out of options

Weighted average remaining life (years)

Weighted average exercise price

Plan F

Rs. 417.75 to Rs. 731.08 (or US$ 5.51 to US$ 9.64)

17,564,766

1.07

666.77

Plan G

Rs. 882.85 to Rs. 1,516.95 (or US$ 11.64 to US$ 19.99)

140,541,250

2.70

1,239.25

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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