Delhivery Enlarges It’s ESOP Pool With 50.1K Stock Options, Worth More Than INR 2.09 Cr

The listed logistics company Delhivery has increased its employee stock option plan (ESOP) pool by granting 50,100 stock options to eligible employees.

“We wish to inform (you) that the Nomination and Remuneration Committee (“NRC”) of the board of directors of the company has approved the grant of 50,100 stock options under Delhivery Employees Stock Option Plan 2012 (“ESOP‐2012”) to the eligible employees of the company on Tuesday, October 01, 2024,” Delhivery said in its exchange filing.

Related: Logistics Startup Delhivery Registers Rs 52 Cr PAT in Q1 FY25

According to Delhivery’s most recent closing price, these stock options are worth more than INR 2.09 crore.

These options will vest over four years from the date of grant. Of the 50.1K stock options, 10% will vest after 12 months, 30% after 24 months, and the remainder at a rate of 15% every six months thereafter.

The current ESOP expansion comes after the grant of 63,538 stock options in September under the Delhivery Employees Stock Option Plan 2012.

Prior to that, in August, the company gave 1,66,122 stock options under the same ESOP 2012 scheme, and in July, it distributed more than 6.49 lakh stock options across numerous ESOP schemes.

On the financial front, the company achieved a major reversal from loss to profit in Q1 FY25, reporting a net profit of INR 54.3 Cr vs a net loss of INR 89.4 Cr in Q1 FY24.

Its service revenue increased 13% year on year to INR 2,172 crore in Q1 FY25, up from INR 1,930 crore in Q1 FY24.