Delhivery is an online delivery platform offering logistics major that expanded the Employee Stock Option Plan by adding 63,538 stock options to its current ESOP pool. The company specializes in manufacturing operating systems for commercial purposes through a combination of world-class infrastructure, and logistics operations using its cutting-edge technology. These newly allocated employee stock option plan shares are worth Rs 2.6 crore.
The company mentioned in a stock exchange filing that the board approved granting 63,538 stock options at a face value of Rs 1 per share to those under the Delhivery employee stock option plan. The company allotted these equity shares under the Delhivery ESOP 2012 plan. The startup announced that 12 percent of its newly granted ESOPs can be vested in a year with 30% vested in 2 years, while the remaining 50 percent will have a vesting duration at a rate of 1 percent every six months. This marks the second expansion of Delhivery’s employee stock option plan pool size for the second year in recent months. The company recently allotted 1,66,122 stock options under the employee stock option plan 2012 scheme. Before this, the firm allocated over 6.49 lakh stock options across multiple ESOP schemes.
Inc42 mentioned that the development came after the company announced its financial results for the first quarter of FY25. This marks the fourth time this logistic firm increased its employee stock option plan’s pool size in the last few months. The company also expanded its pool size under the ESOP 2012 scheme by allocating 75,000 stock options. The development came after the company reported a net loss of Rs 89.4 crore in its first quarter of FY24. The company also announced its plans to establish its subsidiary, Delhivery RoboticsIndia to provide Drones as a service option for remote sensing and shipment.
The company reported a net profit of Rs 54.3 crore in the first quarter of FY25. This came after the firm saw a net loss of around Rs 89.4 crore in FY24. The logistic firm announced a 13 percent YoY increase in its operational revenue to Rs 2,172 crore in the same duration. The company previously faced internal challenges such as a decrease in express parcel and cross-border services deliveries that led to the increased net loss, however, the firm has minimized the loss in FY25.
Conclusion:
Delhivery expanded its employee stock option Plan by allocating 63,538 stock options to its employee stock option plan. These newly allocated shares are worth around Rs 2.6 crore. The logistic firm develops operating systems and offers a platform that allows its users to track their packages across India through drone services. This is the fourth time this company has expanded its employee stock option plan in the last month. Delhivery’s ESOP 2012 scheme allowed the allotment of these equity shares to employees following the allocation of 75,000 stock options in June. The company reported a net profit for the first quarter of FY25 to Rs 54.3 crore.
