Naveen Jindal Placed at the Top in Executives Pay Chart

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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 ₹ 73.4 crore for the last fiscal 2011 – 12, which grew by over ₹ 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 ( ₹ 57 crore each ), Hero MotoCorp’s Pawan Munjal ( ₹ 34.5 crore ) and Brijmohan Lall Munjal ( ₹ 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 ₹ 43 crore ( over 12% ) to ₹ 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 ( ₹ 29.3 crore ), followed by Maruti Suzuki’s Shinzo Nakanishi ( ₹ 28.1 crore ), BGR Energy’s BG Raghupaty ( ₹ 26 crore ), Tata Motors’ former chief Carl – Peter Forster ( ₹ 24 crore ) and Divi’s Labs’ Murali K Divi ( ₹ 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 ₹ 15 crore, which has remained unchanged for four consecutive years now.

Those ranked higher than Ambani include Bharti Airtel’s Sunil Mittal ( ₹ 21.3 crore ), Hindalco’s D Bhattacharya ( ₹ 19.5 crore ), JSW Steel’s Sajjan Jindal ( ₹ 18.18 crore ) and Amara Raja Batteries’ Jayadev Galla ( ₹ 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 ₹ 38 crore to ₹ 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

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