Greaves Cotton Limited has announced the approval of employee stock options under its ESOP 2024 scheme. The Nomination and Remuneration Committee of the Board of Directors approved the grant during its meeting held on March 13, 2026, demonstrating the company's commitment to employee incentivization and retention.

Stock Option Grant Details

The committee has approved the grant of up to 3,05,307 stock options to eligible employees under the Greaves Cotton Employee Stock Option Plan 2024. This grant is structured in compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 as amended from time to time.

Regulatory Compliance and Disclosure

The company has clarified that this grant of options under ESOP 2024 is not considered a material event under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure has been made purely for shareholder information and to ensure transparency in corporate governance practices.

The stock options grant follows the regulatory framework established by SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring full compliance with current regulations governing employee benefit schemes.

Key Terms and Conditions

The equity shares to be allotted upon exercise of these stock options will rank pari-passu with existing equity shares of the company. The vesting of stock options will occur within the specified vesting period as outlined in the ESOP 2024 scheme, with a mandatory minimum period of one year between grant and vesting.

• Fresh equity shares will be issued upon exercise of vested options
• Each option converts to one equity share of Rs. 2 face value
• Options must be exercised within 8 years of vesting
• Vesting schedule follows ESOP 2024 guidelines

The announcement was made through a formal intimation to both BSE Limited and National Stock Exchange of India Limited, signed by Atindra Basu, Group General Counsel and Company Secretary. This employee stock option grant reflects the company's strategy to align employee interests with long-term shareholder value creation.

Greaves Cotton Limited has officially announced a key leadership transition with the resignation of Mrs. Akhila Balachandar from her position as Chief Financial Officer and the appointment of Mr. Manish Poddar as Group Chief Financial Officer, both effective March 19, 2026. The changes were formalized through regulatory filings pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Approval and Regulatory Compliance

The Board of Directors approved the CFO transition during their meeting held on March 13, 2026, from 09:45 a.m. to 10:30 a.m. (IST). The appointment received recommendations from both the Nomination and Remuneration Committee and Audit Committee before receiving final Board approval, ensuring full compliance with regulatory requirements.

Leadership Transition Details

Mrs. Balachandar formally submitted her resignation letter on February 19, 2026, citing personal reasons and other priorities. In her resignation letter addressed to Managing Director Parag Satpute, she expressed gratitude to the Chairman, Board of Directors, and management team while committing to ensure a smooth transition for seamless continuation of organizational operations.

New CFO Profile and Experience

Mr. Manish Poddar brings over 25 years of comprehensive experience in finance, treasury, investor relations, governance, and strategic business partnering. His appointment positions the company to advance its diversified engineering solutions across key sectors.

Authorized Regulatory Personnel

Following the leadership change effective March 19, 2026, three officials are designated as authorized personnel for determining materiality of events and ensuring timely stock exchange disclosures under Regulation 30(5) of the Listing Regulations:

• Mr. Parag Satpute - Managing Director & Group CEO
• Mr. Atindra Basu - Group General Counsel & Company Secretary
• Mr. Manish Poddar - Group Chief Financial Officer

The transition reflects Greaves Cotton's commitment to maintaining robust financial governance while supporting its strategic growth initiatives across Energy, Mobility, and Industrial Solutions under the Greaves.NEXT strategy.