HUL CMD Sanjiv Mehta’s salary drops 21 pc to Rs 15.36 cr in FY21

By: |
June 08, 2021 7:28 PM

Mehta’s remuneration included Rs 11.19 crore as salary and allowances, a bonus of Rs 2.02 crore, perquisites of Rs 1.69 crore and Rs 0.44 crore as contribution to his provident fund, as per the report.

HULIn FY20, Mehta’s total income was Rs 19.42 crore

FMCG major Hindustan Unilever’s Chairman and Managing Director Sanjiv Mehta’s annual gross salary declined 20.9 per cent to Rs 15.36 crore in the pandemic-hit FY21, according to the company’s annual report.

Mehta’s remuneration included Rs 11.19 crore as salary and allowances, a bonus of Rs 2.02 crore, perquisites of Rs 1.69 crore and Rs 0.44 crore as contribution to his provident fund, as per the report.

In FY20, Mehta’s total income was Rs 19.42 crore, which included a salary of Rs 12.46 crore, along with a bonus of Rs 3.31 crore, perquisites of Rs 3.20 crore and Rs 0.45 crore as contribution to PF, superannuation and consultancy fees.

It was an increase of 2.86 per cent from FY19, the annual report of Hindustan Unilever Ltd (HUL) said.

Earlier in FY19, Mehta’s gross salary was reduced to Rs 18.88 crore.

In FY21, HUL’s managing director, whole-time directors and key managerial personnel together took a gross salary of Rs 36.13 crore. This includes the gross salary of CMD Mehta, CFO Srinivas Phatak, Executive Director – Legal and Corporate Affairs Dev Bajpai and Executive Director – Supply Chain Wilhelmus Uijen.

Mehta’s salary was 122 times higher than the median remuneration of HUL employees in FY21.

Uijen’s salary was 64.51 times the median remuneration. CFO Phatak salary was 56.59 times and Bajpai’s salary 43.93 times higher than the median remuneration.

As of March 31, 2021, HUL had 8,525 permanent employees on the rolls of the company.

“The percentage increase in the median remuneration of Employees for the financial year was 2.6 per cent,” said HUL.

The average increase made in the salaries of employees other than the managerial personnel in the financial year was 3.4 per cent.

“This has been a challenging year for all our employees, especially those in the frontline and factories, as they have strived hard to serve the nation by ensuring that our production and distribution of essential commodities runs smoothly,” said HUL.

In FY21, a one-time special cash award was also granted to the frontline sales force and factory-based employees, it added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Delayed payments: Pending MSME dues cleared grow nearly three-fold since December 2020
2‘Unless there’s significant deflation next year, we are on track to deliver Rs 10k-cr revenue’
3SC pulls up ONGC for not paying fees to arbitrators