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Notes forming part of consolidated onancial statements (Contd.)
Annual Report 2016-17
•
187
The expense or credit recognized in the statement of proot and loss for a year represents the movement in
cumulative expense recognized as at the beginning and end of that year and is recognized in employee beneots
expense. In case of the employee stock option schemes having a graded vesting schedule, each vesting tranche
having different vesting period has been considered as a separate option grant and accounted for accordingly.
Where the terms of an equity-settled transaction award are modioed, the minimum expense recognized is the
expense as if the terms had not been modioed, if the original terms of the award are met. An additional expense
is recognized for any modiocation that increases the total fair value of the share-based payment transaction, or is
otherwise beneocial to the employee as measured at the date of modiocation.
5. Share capital
As at
March 31, 2017
In
`
Million
As at
March 31,2016
In
`
Million
As at
April 1, 2015
In
`
Million
Authorized shares (No. in million)
200* (March 31, 2016: 200/April 1, 2015: 112) equity
shares of
`
10 each
2,000.00
2,000.00
1,120.00
2,000.00
2,000.00
1,120.00
Issued, subscribed and fully paid-up shares (No. in
million)
80 (March 31, 2016/April 1, 2015: 80) equity shares of
`
10 each
800.00
800.00
800.00
Issued, subscribed and fully paid-up share capital
800.00
800.00
800.00
*
The Company increased its authorized share capital from
`
1,120 million divided into 112 million shares of
`
10 each to
`
2,000 million divided into 200 million shares of
`
10 each pursuant to the shareholders’ resolution passed in the
Annual General Meeting held on July 24, 2015.
a) Reconciliation of the shares outstanding at the beginning and at the end of the year
The reconciliation of the number of shares outstanding and the amount of share capital is set out below:
(In Million)
As at March 31, 2017
As at March 31, 2016
As at April 1, 2015
No of
shares
Amount
No of
shares
Amount
No of
shares
Amount
Number of shares at the
beginning of the year
80.00 800.00
80.00 800.00
40.00 400.00
Add : Bonus shares issued
-
-
-
-
40.00 400.00
Number of shares at the end of
the year
80.00 800.00
80.00 800.00
80.00 800.00
b) Terms / rights attached to equity shares
The Company has only one class of equity shares having a par value of
`
10 per share. Each holder of equity
shares is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend
proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General
Meeting.
In the event of liquidation of the Parent Company, the holders of equity shares will be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders.