Hero MotoCorp's promoter Pawan Munjal - highest paid director among the top listed private companies in India

 

Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director among the top listed private companies, taking home a pay packet of nearly Rs. 44 crore last fiscal 2014-15

The group's two other promoters - late Brijmohan Lall Munjal and Sunil Kant Munjal - were the second and third most paid directors during 2014-15, according to proxy advisory firm InGovern.

Brijmohan Lall, who passed away earlier this month, had a pay packet of Rs. 43.64 crore, while that of Sunil Kant Munjal stood at Rs. 41.87 crore.

Desh Bandhu Gupta, chairman of Lupin, earned a salary of Rs. 37.58 crore, while Larsen & Toubro chairman A M Naik drew an annual remuneration of Rs. 27.32 crore.

An analysis of the salary of 95 directors in Nifty companies shows that on an average remuneration of a director is Rs. 9 crore.

According to the report, Pawan Munjal took home a pay packet of Rs. 43.91 crore last fiscal, which is 1.84 per cent of his company's net profit.

A total of 34 Nifty-50 companies disclosed pay-ratios, while three firms - Bajaj Auto, Bosch and Maruti Suzuki - shied away from making any such disclosures. The stock market index has 10 PSUs which are exempted from making such disclosures.

Notably, the top three highest paid directors are from Hero MotoCorp and Lupin also contributed two directors to the top-10 list.

Interestingly, 7 out of these 10 directors are promoters of their respective companies.

Among others in the top 10 are Bharti Airtel's Sunil Bharti Mittal (Rs. 27.18 crore), Vinita Gupta, CEO of Lupin (Rs. 24.86 crore), Hindalco MD D Bhattacharya (Rs. 21.59 crore), TCS MD N Chandrasekaran (Rs. 21.28 crore) and Ultratech Cement's Kumar Mangalam Birla (Rs. 19.04 crore).