Arohan Financial Services Limited | Annual Report 2021-22

180 | Annual Report | 2021-2022 Arohan Financial Services Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2022 (Contd.) (All amounts in ` lakhs unless otherwise stated) Note 25: Employee stock option scheme (‘ESOP Scheme’) (Contd.) (vi) Following employees have received a grant in the reporting period of option amounting to 5% or more of total option granted: Name of Employee Designation Number of Options granted Manoj Kumar N Nambiar Managing Director 1,75,000 Milind R Nare Chief Financial Officer 68,429 Ranjan Das Chief Risk Officer 57,024 Anirudh Singh G Thakur Company Secretary 51,183 Note: There are no identified employees who were granted options, during any particular year, equal to or exceeding 1% of the issued capital (excluding outstanding warrants and conversions) of the company at the time of grant. (vii) The fair value of the options granted is determined on the date of the grant using the “Black-Scholes option pricing model” with the following assumptions, as certified by an independent valuer. Note: The expected volatility was determined based on historical volatility data of the other comparable Company’s shares listed on the Stock Exchange. (a) Represents interest on margin money deposits placed to avail term loan from banks and financial institutions. Particulars ESOP 2017 ESOP 2018 (grant 2018) ESOP 2018 (grant 2019) ESOP 2018 (grant 2020) ESOP 2021 (A) Date of grant of options 29-Aug-17 16-May-18 16-May-19 04-Aug-20 05-Jun-21 (B) Fair market value of option on the date of grant 14.71 37.61 49.53 56.83 75.94 (C) Exercise price 84.70 130.00 162.80 170.00 210.00 (D) Expected volatility (%) 35.95 34.25 39.02 47.60 46.31 (E) Expected forfeiture percentage on each vesting date - - - (F) Expected option life (weighted average) 1.04 2.50 2.50 2.57 3.00 (G) Expected dividends yield - - - - - (H) Risk free interest rate (%) 6.07% 7.51% 6.75% 4.39% 4.95% Note 26: Interest Income Year ended 31 March 2022 On financial assets measured at fair value through OCI On financial assets measured at amortised cost Total Interest on loans - 84,396.54 84,396.54 Interest on deposits with banks [refer note (a) below] - 1,095.37 1,095.37 Interest income on unwinding of assigned portfolio - 352.92 352.92 Other interest Income - 27.87 27.87 Total - 85,872.70 85,872.70 Interest Income (contd.) Year ended 31 March 2021 On financial assets measured at fair value through OCI On financial assets measured at amortised cost Total Interest on loans 698.74 91,377.79 92,076.53 Interest on deposits with banks [refer note (a) below] - 954.81 954.81 Interest income on unwinding of assigned portfolio - 1,529.19 1,529.19 Other interest Income - 21.89 21.89 Total 698.74 93,883.68 94,582.42