Naveen Jindal tops executive pay chart with Rs 73.4 cr package

Naveen Jindal has topped the executive pay charts for listed companies in the country with a package of Rs 73.42 crore for the last fiscal 2011-12,which grew by over Rs 6 crore from the previous year

Naveen Jindal has topped the executive pay charts for listed companies in the country with a package of Rs 73.42 crore for the last fiscal 2011-12,which grew by over Rs 6 crore from the previous year.

Jindal,Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL),was followed by Sun TV Networks Kalanithi and Kavery Maran (Rs 57.01 crore each),Hero MotoCorps Pawan Munjal (Rs 34.47 crore) and Brijmohan Lall Munjal (Rs 34.44 crore) among the five top-paid executives.

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

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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 Rs 43 crore (over 12 per cent) to Rs 387 crore in fiscal ended March 31,2012,as per the data available with the companies that have so far published their respective annual reports.

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

Madras Cements PRR Rajha was ranked 6th (Rs 29.34 crore),followed by Maruti Suzukis Shinzo Nakanishi (Rs 28.14 crore),BGR Energys BG Raghupaty (Rs 25.98 crore),Tata Motors former chief Carl-Peter Forster (Rs 23.97 crore) and Divis Labs Murali K Divi (Rs 23.15 crore).

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Reliance Industries chief Mukesh Ambani,once the countrys highest-paid executive,was not in the top-ten and was ranked 15th with a remuneration of Rs 15 crore,which has remained unchanged for four consecutive years now.

Those ranked higher than Ambani include Bharti Airtels Sunil Mittal (Rs 21.3 crore),Hindalcos D Bhattacharya (Rs 19.5 crore),JSW Steels Sajjan Jindal (Rs 18.18 crore) and Amara Raja Batteries Jayadev Galla (Rs 17.23 crore).

Mittal and Sajjan Jindal saw their packages decline during the year 2011-12.

The collective remuneration of 15 highest-paid executives rose by about Rs 38 crore to Rs 478 crore.

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Interestingly,there are only four Sensex companies,whose top executives figure among the ten top-paid executives.

However,a majority of the Sensex companies saw their top executives packages rise 2011-12,even as Mukesh Ambani,Kumar Mangalam Birla,Azim Premji and Sunil Mittal either took a pay cut or capped their salaries.

Top earners

Naveen Jindal R73.42 crore for the last fiscal 2011-12

Kalanithi and Kavery Maran R57.01 crore each (Sun TV)

Pawan Munjal R34.47 crore and Brijmohan Lall Munjal R34.44 crore(Hero MotoCorp)

PRR Rajha R29.34 crore (Madras Cements)

Shinzo Nakanishi R28.14 crore (Maruti Suzuki)

BG Raghupaty R25.98 crore of BGR Energy

Carl-Peter Forster R23.97 crore (former-chief,Tata Motors)

Murali K Divi R23.15 crore (Divis Labs)