Naveen Jindal tops FY12 pay chart with R73.4-cr package

Written by Press Trust of India | New Delhi | Updated: Sep 24 2012, 09:08am hrs
Naveen Jindal has topped the executive pay charts for listed companies in the country for 2011-12 with a package of R73.42 crore, which grew by over R6 crore from the previous fiscal.

Jindal Steel and Power (JSPL) chairman and managing director Jindal was followed by Sun TV Networks Kalanithi and Kavery Maran (R57.01 crore each), Hero MotoCorps Pawan Munjal (R34.47 crore) and Brijmohan Lall Munjal (R34.44 crore).

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

Jindal has remained top-paid executive for the second consecutive year now, after he dislodged Kalanithi Maran from the pole position in the year 2010-11.

The collective pay of the 10 top-paid executives rose by R43 crore (over 12%) to R387 crore in fiscal ended March 31, as per the data available with the companies that have so far published their respective annual reports.

Interestingly, the packages declined for only two Kalanithi and Kavery Maran among these 10 in 2011-12, while all others saw their remunerations fatten.

Madras Cements PRR Rajha was ranked 6th (R29.34 crore), followed by Maruti Suzukis Shinzo Nakanishi (R28.14 crore), BGR Energys BG Raghupaty (R25.98 crore), Tata Motors former chief Carl-Peter Forster (R23.97 crore) and Divis Labs Murali K Divi (R23.15 crore).

Reliance Industries chief Mukesh Ambani, once the highest-paid executive, was not in the top-ten and was ranked 15th with a remuneration of R15 crore.