1,09,29,038 is the total number of ESOPs allotted during FY18. This is a staggering number (not so staggering if you see previous years) and is more than the 160 Cr by value pointed to by another boarder. I got this number by adding the numbers from BSE filing. If we take average price of stock as Rs.250 in fY18, this adds up to a staggering 273 Cr.
Number of shares is increased due to the dilution but the EPS increases because of the increase in EBITDA/PAT due to decrease in employee expenses. The increase in contribution of this to the PAT offsets the % of dilution. For eg. in Edelweiss, EBITDA will reduce by about 270 Cr if we expense ESOPs at current stock price. Since PAT is about 1/6th of EBITDA for EDEL, PAT will reduce by about 45 Cr roughly. which means TTM PAT will be 767 Cr instead of 812 Cr. Now number share of shares as of FY17 was 83.26 Cr. 767/83.26 = Rs.9.21 is EPS without ESOPs. Current TTM EPS with dilution is 812/(83.26 + 1.09) = Rs.9.64 is EPS with ESOP. You can see how EPS is higher with ESOP dilution magic by about 5%.
I have expensed the ESOPs based on current stock price but if you expense it higher, the difference will be even more! Expensing it at 2x for eg., will make the EPS 8.67 which is 11% higher! This is not even an unrealistic case since stock price has doubled from FY16 to FY17 and again between FY17 and FY18. The detrimental effects of this creative accounting will get even more deleterious when you use a P/E of 30 on the 90 Cr PAT difference, essentially making the stock 10% more valuable by just moving some numbers around.