Naveen Jindal has topped the executive pay chart for listed companies in
the country with a package of Rs. 73.42 crore for the last fiscal
2011-12, which grew by over Rs. six crore from previous year.
Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd
(JSPL), was followed by Sun TV Network’s Kalanithi and Kavery Maran (Rs.
57.01 crore each), Hero MotoCorp’s Pawan Munjal (Rs. 34.47 crore) and
Brijmohan Lall Munjal (Rs. 34.44 crore) among the five top-paid
These pay packages include salary, perquisites, profit-linked incentives or commissions and other benefits.
Jindal remains the top-paid executive for the second consecutive year, after dislodging Kalanithi Maran last year.
The collective pay of the ten top-paid executives rose by Rs. 43 crore
(over 12 per cent) to Rs. 387 crore during the fiscal that ended March
31, 2012, as per the data available with the companies that have so far
published their respective annual reports.
Interestingly, the pay packages declined for only two - Kalanithi and
Kavery Maran - in 2011-12, while the rest saw their remunerations
fatten. Reliance Industries chief Mukesh Ambani, once the country’s
highest-paid executive, was not in the top ten and was ranked 15th with a
remuneration of Rs. 15 crore, which has remained unchanged for four
consecutive years now.
Interestingly, there are only four Sensex companies, whose top executives figure among the ten top-paid persons.
However, a majority of the Sensex companies, which are considered as the
country’s top-30 blue chip firms, saw their top executives’ packages
rise in 2011-12, even as industry titans like Mukesh Ambani, Kumar
Mangalam Birla, Azim Premji and Sunil Mittal either took a pay cut or
capped their salaries.
Mukesh’s younger brother Anil Ambani also saw his total remuneration
from the four main companies of Reliance Group fall by nearly two-third
during the year, although none of his group firms are currently part of