Dhanuka Agritech Clarifies SAR Plan 2026 Appreciation Calculation

Dhanuka Agritech Ltd has issued a clarification regarding the determination of the appreciation amount under its proposed Dhanuka Stock Appreciation Rights Plan, 2026 (SAR 2026). This clarification addresses queries from proxy advisory firms. The appreciation amount for each exercised SAR will be the cash equivalent of the increase in the underlying equity share's value. The calculation is defined as (Fair Market Value on Exercise Date – Exercise Price) × Number of SARs Exercised. The exercise price will be no less than the closing market price on the grant date, considering higher trading volumes on that day. The company has also made this information available on its website.