Comments
Nashik-based Sahyadri Farms, India’s largest integrated value chain owned by small and marginal farmers has announced employee stock ownership plans (ESOPs) 2023 worth ₹45 crore to its employees out of the total ESOPs pool created for an amount of ₹70 crore.
With a total pool of four per cent of the total outstanding equity ( before the private equity round of ₹310 crore in August 2022) of the company worth ₹70 crore, the ESOPs plan was approved by the Board of Directors in March 2023.
Making the announcement, Sahyadri Farms Chairman and Managing Director, Vilas Shinde, said, “ Sahyadri Farms is the first of its kind organization to announce ESOPs in rural India. This scheme will include all our employees who have contributed to value creation for Sahyadri Farms’ growth. Inclusive growth and value creation for all stakeholders is a core philosophy of Sahyadri Farms since its inception. The organization is creating value for all its stakeholders, mainly the farmer shareholders along with consumers and employees.”
Also read: How the ‘Farm Distress Index’ can predict farmers’ woes before they occur
Extending welfare vision
Sahyadri Farms, which was started with the mission to ensure that small-landholding farmers get fair compensation for their produce and labour, now has extended its welfare vision to its employees.
The total number of employees covered under ESOPs is 461 while the vesting period is four years. The board meeting was held in March 2023 to approve the proposed ESOP Plan.
Greater bond
ESOP plan 2023 includes the employees from junior to CXO level employees. The statement issued by Sahyadri Farms added it is the unique plan where everyone will be benefited irrespective of hierarchy.
Also read: Skills shortage hampering farm mechanisation
While many other companies focus on key managerial persons and CXO level employees, Sahyadri Farms has included all its employees in the plan. Sahyadri Farms hopes that ESOPs will strengthen the bond between the company and its employees. ESOPs will enable employees to own part of the company and lead to higher productivity and work satisfaction.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.