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SUMMARY
Here are four key points about Delhivery’s recent boost to its ESOP pool:
Expansion of ESOP Pool: Delhivery has expanded its Employee Stock Option Plan (ESOP) pool by adding 75,000 additional stock options. This initiative is designed to reward and retain employees by giving them increased ownership in the company .
Increased Employee Participation: The latest increase to Delhivery’s ESOP pool, which includes 23,095 stock options granted earlier in 2023, highlights the company’s ongoing commitment to employee involvement in its growth journey.
Leadership Inclusion: The recent ESOP allocation includes partly paid shares valued at Rs 178.5 crore, granted to 17 members of Delhivery’s leadership team, ensuring these key figures are closely aligned with the company’s long-term success.
Strategic Timing: At a pivotal moment, Delhivery is enhancing its ESOP pool to reinforce its market standing and pave the way for future expansion. This strategic initiative underscores the company’s commitment to uplifting employee morale and fostering loyalty, aligning with its overarching goals for sustained growth and success
Company Statement
We wish to inform that the nomination and remuneration committee… has approved the grant of 75,000 stock options under Delhivery employees stock option plan 2012 to the eligible employees of the Company w.e.f. May 17, 2024,” said the company in a filing with the BSE.
Financial Result
Delhivery’s Q4 performance reflected a return to losses, reporting a net loss of Rs 69 crore, and included the resignation of Chief Business Officer Sandeep Kumar Barasia. Despite this, the company experienced a significant financial turnaround in the December quarter, achieving its first profit since at least 2021, with a net gain of Rs 11.7 crore. Additionally, Delhivery reached operational profitability for the entire fiscal year 2024, recording an EBITDA of Rs 127 crore, a substantial improvement from the EBITDA loss of Rs 452 crore in fiscal year 2023.
