VIP Industries Limited has announced the grant of 1,20,000 Employee Stock Appreciation Rights (ESARs) to eligible employees under its established employee benefits scheme. The Nomination and Remuneration Committee of the Board of Directors approved this grant through a Circular Resolution dated April 27, 2026.

ESAR Grant Details

The company disclosed comprehensive details of the stock appreciation rights program in its regulatory filing. The grant represents a significant employee incentive initiative under the VIP Employees Stock Appreciation Rights Plan 2018.

Regulatory Compliance

The ESAR scheme operates in full compliance with regulatory requirements. The program adheres to SEBI (Share Based Employee Benefits and Sweat Equity) Regulations 2021, ensuring proper governance and transparency in employee stock benefit distribution.

The ESARP 2018 plan was previously submitted to stock exchanges when obtaining in-principle approval. VIP Industries has successfully received in-principle approval from the stock exchanges where it maintains listings, confirming regulatory acceptance of the employee benefits structure.

Exercise Terms and Conditions

The vested ESARs provide employees with specific exercise parameters designed to align employee interests with company performance. The stock appreciation rights can be exercised within a period of 5 years from the date of vesting, offering employees flexibility in timing their benefit realization.

The pricing mechanism establishes Rs. 388 per share as the base price for the ESARs, providing a clear valuation framework for employee participation in the company's equity appreciation potential.

Corporate Governance

The approval process demonstrates VIP Industries' commitment to structured corporate governance in employee compensation matters. The Nomination and Remuneration Committee's involvement ensures appropriate oversight and decision-making in employee stock benefit programs, maintaining transparency and regulatory compliance throughout the grant process.

VIP Industries Limited has submitted its quarterly compliance certificate under SEBI Regulation 74(5) for the quarter ended March 31, 2026, demonstrating adherence to regulatory requirements for dematerialisation processes.

Regulatory Compliance Filing

The company filed the mandatory certificate with both BSE Limited and National Stock Exchange of India Limited on April 6, 2026. The submission fulfills requirements under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's registrar and share transfer agent. The registrar issued the compliance certificate on April 3, 2026, confirming proper handling of dematerialisation processes during the quarter.

The certificate validates that securities received from depository participants for dematerialisation during Q4FY26 were appropriately confirmed to the depositories. All security certificates received were mutilated and cancelled after due verification by the depository participant, with depositories' names substituted in the register of members within prescribed timelines.

Process Verification

Key confirmations provided in the certificate include:

• Securities received for dematerialisation were confirmed (accepted/rejected) to depositories
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates were mutilated and cancelled after proper verification
• Depository names were substituted in the register of members within prescribed timelines

Corporate Governance

Company Secretary and Head – Legal Ashitosh Sheth (ACS 25997) signed the submission letter, requesting stock exchanges to disseminate the information for investor awareness. The filing demonstrates VIP Industries' commitment to maintaining transparent corporate governance practices and regulatory compliance.

The submission ensures that investors and market participants have access to information regarding the company's dematerialisation processes and adherence to SEBI regulations during the quarter ended March 31, 2026.