Rohit Jawa, chief executive officer (CEO) and MD of Hindustan Unilever (HUL), the country’s largest consumer goods company, saw a 3.75% hike in his total remuneration for FY25 at Rs 23.23 crore, according to the company’s latest annual report, coming at a time when the company has been battling urban slowdown concerns. HUL, which owns popular brands such as Rin, Lux, Surf Excel, Pond’s, Dove, Horlicks and Bru among others, had a turnover of Rs 60,680 crore and profit after tax of Rs 10,644 crore in FY25.
In FY24, Jawa had taken home a total remuneration of Rs 22.39 crore, which was in line with predecessor Sanjiv Mehta, who took home a pay package of Rs 22.36 crore in FY23. Jawa noted in his address to shareholders in the latest annual report that the company had witnessed moderation in urban demand and a gradual recovery of rural consumption.
“Against this backdrop, we remained focused on driving volume growth and strengthening competitiveness for the business,” he said.
Despite the marginal increase in FY25 remuneration, Jawa’s pay is still 146.47 times higher than the median remuneration of HUL employees, the annual report stated. An Oxfam report released earlier this month notes that the average pay for CEOs in India has reached nearly Rs 17 crore a year, a growth of 50% in real terms since 2019, which is in line with the trend visible globally.
In FY24, Jawa’s remuneration was 153.03 time more than the median remuneration of employees. Top executives such as CFO Ritesh Tiwari, on the other hand, have their FY25 remuneration at 59.18 times higher than the median pay of HUL employees, the annual report said.
Tiwari along with chief people, transformation and sustainability officer BP Bidappa took home a pay package of Rs 9.39 crore and Rs 8.87 crore, respectively, in FY25. While Tiwari’s FY25 pay hike works out to 9.7% versus FY24. Bidappa’s remuneration is not comparable since he was appointed to the position on June 1, 2024, the annual report said. Dev Bajpai, who stepped down as ED, legal & corporate affairs and company secretary on December 31, 2024 and took home a package of Rs 9.95 crore for the nine-month period of FY25, also has no comparative figures.
Interestingly, the latest annual report points to a fall of 8.46% in the total number of permanent employees. HUL had 6,604 permanent employees on its rolls as on March 31, 2025. This number was higher at 7,215 permanent employees at the end of FY24.
The percentage increase in the median remuneration of employees for FY25 was 8.39%, which is higher than the 7.38% figure reported in FY24, but lower than the 10.73% figure seen in FY23.
Also, the average increase in the salaries of employees, other than the managerial personnel in FY25, was 4.62%, higher than the 4.4% figure reported in FY24.
“The average increase made in the salaries of employees other than the managerial personnel in the financial year was 4.62% and does not include increase on account of promotions. Increase every year is an outcome of company’s market competitiveness as against its peer group companies as well as financial performance,” the annual report said.
HUL chairman Nitin Paranjpe noted that while the business is witnessing a challenging operating environment with uneven weather patterns, it is poised to deliver strong and consistent growth.
“With rising affluence, a burgeoning middle class, a vibrant young working population empowered by a strong public digital backbone and growth-oriented policies, the business is poised to grow,” he said.
“Economic development, technological advancements and a better quality of life have fuelled the aspirations of our consumers. These new dynamics present a significant opportunity for the FMCG sector,” he said.
The company is witnessing a rapid evolution of the Indian consumer with increased digital penetration and access to information, he added.
“We are building a robust portfolio for future growth, by sharpening our ‘where to play’ choices. In line with this, we announced the acquisition of premium science-backed beauty brand, Minimalist. This acquisition is in line with our vision to become the beauty shapers of India,” Paranjpe said.
In FY25, HUL divested its water business, Pureit, and announced the decision to demerge its ice cream business, which consists of brands Kwality Wall’s, Cornetto and Magnum.