Gillette_India_Limited_AR_20

Annual Report 2019-20 121 Notes to Financial Statements for the year ended June 30, 2020 Company Overview Board's Report MD&A Corporate Governance Financial Statements Gillette India Limited with New York Stock Exchange of USA. The options were issued to Key Employees of the Company with Exercise price equal to the market price of the underlying shares on the date of the grant. The Grants issued are vested after 3 years/5 years and have a 5 years /10 years life cycle. The expense recognised for employee services received during the year is shown in the following table: Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Expense arising from equity-settled share-based payment transactions 438 616 Totalexpensearisingfromshare-basedpayment transactions 438 616 There were no cancellations or modifications to the awards in June 30, 2020 or June 30, 2019. Movements during the year The following table illustrates the number and weighted average exercise prices (WAEP) of, and movements in, share options during the year (excluding SARs): Year ended June 30, 2020 Year ended June 30, 2020 Estimated fair value of Options Granted Year ended June 30, 2019 Year ended June 30, 2019 Estimated fair value of Options Granted Number WAEP (in $) in ` Number WAEP (in $) in ` Outstanding at July 1 58 242 109.65 — 77 198 78.06 — Granted during the year 28-Feb-20 2 581 113.23 190 — — — 28-Feb-20 5 480 113.23 1,099 — — — 1-Aug-18 — — — 2 480 81 5 683 2-Jan-19 — — — 1 096 91 6 432 28-Feb-19 — — — 770 99 6 944 28-Feb-19 — — — 10 412 99 994 Exercised during the year (19 224) 120.67 — (33 614) 93.18 — Expired during the year — — — — — — Forfeited during the year (100) — — (100) — — Outstanding at June 30 46 979 119.57 58 242 109.65 Exercisable at June 30 22 570 119.57 32 926 109.65 The weighted average share price at the date of exercise of these options was $ 120.67 (June 30, 2019: $ 93.18). The weighted average remaining contractual life for the share options outstanding as at June 30, 2020 was 5.93 (June 30, 2019: 6.05) years. The weighted average fair value of options granted during the year was ` 808 (June 30, 2019: ` 2 496). These fair values for share options granted during the year were calculated using binomial lattice- based model. The following tables list the inputs to the models used for the plans for the years ended June 30, 2020 and June 30, 2019, respectively: As at June 30, 2020 As at June 30, 2019 Dividend yield (%) 2.39% 3.03% Expected volatility (%) 16.63% 16.56% Risk–free interest rate (%) 1.30% 2.60%