Naveen Jindal Placed at the Top in Executives Pay Chart

Naveen Jindal Placed at the Top in Executives Pay Chart

Naveen Jindal has topped the executive pay charts for listed companies in the country with a package of [rupee] 73.4 crore for the last fiscal 2011 – 12, which grew by over [rupee] 6 crore from previous year.

Jindal, chairman and managing director of Jindal Steel and Power ( JSPL ), was followed by Sun TV Network’s Kalanithi and Kavery Maran ( [rupee] 57 crore each ), Hero MotoCorp’s Pawan Munjal ( [rupee] 34.5 crore ) and Brijmohan Lall Munjal ( [rupee] 34.4 crore ) among the five top – paid executives.

These pay packages include salary, perquisites, profit – linked incentives or commissions and other benefits.

Jindal remained the top – paid executive for the second consecutive year after he dislodged Kalanithi Maran from the top slot in the year 2010 – 11.

The collective pay of the 10 top – paid executives rose by [rupee] 43 crore ( over 12% ) to [rupee] 387 crore in FY12, according to the data companies have so far published their annual reports. The pay packages declined for only two – Kalanithi and Kavery Maran – among these 10 in 2011 – 12.

Madras Cements P R R Rajha was ranked sixth ( [rupee] 29.3 crore ), followed by Maruti Suzuki’s Shinzo Nakanishi ( [rupee] 28.1 crore ), BGR Energy’s BG Raghupaty ( [rupee] 26 crore ), Tata Motors’ former chief Carl – Peter Forster ( [rupee] 24 crore ) and Divi’s Labs’ Murali K Divi ( [rupee] 23.2 crore ).

RIL chief Mukesh Ambani, once the country’s highest – paid executive, was not in the top-10 and was ranked 15th with a remuneration of [rupee] 15 crore, which has remained unchanged for four consecutive years now.

Those ranked higher than Ambani include Bharti Airtel’s Sunil Mittal ( [rupee] 21.3 crore ), Hindalco’s D Bhattacharya ( [rupee] 19.5 crore ), JSW Steel’s Sajjan Jindal ( [rupee] 18.18 crore ) and Amara Raja Batteries’ Jayadev Galla ( [rupee] 17.23 crore ). Among these, Mittal and Sajjan Jindal saw their packages decline during the year 2011 – 12.

The collective remuneration of 15 highest – paid executives rose by about [rupee] 38 crore to [rupee] 478 crore. Interestingly, there are only four sensex companies whose top executives figure among the ten top – paid persons.

Top fifteen highest paid executives of the year :

  1. Naveen Jindal, Chairperson and MD of JSPL – 73.42 crore
  2. Kalanithi Maran of Sun TV Network – 57.01 crore
  3. Kavery Maran of Sun TV Network – 57.01 crore
  4. Pawan Munjal of Hero Moto Corp – 34.47 crore
  5. Brijmohan Lall Munjal of Hero MotoCorp – 34.44 crore
  6. PRR Rajha of Madras Cements – 29.34 crore
  7. Shinzo Nakanishi of Maruti Suzuki – 28.14 crore
  8. BG Raghupaty of BGR Energy -25.98 crore
  9. Carl – Peter Forster of Tata Motors – 23.97 crore
  10. Murali K Divi of Divi’s Labs – 23.15 crore
  11. Sunil Mittal of Bharti Airtel – 21.3 crore
  12. D. Bhattacharya of Hindalco – 19.5 crore
  13. Sajjan Jindal of JSW Steel – 18.18 crore
  14. Jayadev Galla of Amara Raja Batteries – 17.23 crore
  15. Mukesh Ambani of Reliance Industries – 15 crore