Naveen Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), has topped the executive pay charts for listed companies in India with a package of Rs 73.42 crore (Rs 734.2 million) for the last fiscal 2011-12, which grew by over Rs 6 crore (Rs 60 million) from previous year.
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 (Rs 3.87 billion) in fiscal ended March 31, 2012, as per the data available with the companies that have so far published their respective annual reports.
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India's highest paid executives
Kalanithi and Kavery Maran (Rank 2,3)
Salary: Rs 57.01 crore each (Rs 570.1 million)
Sun TV Network's Kalanithi and Kavery Maran (Rs 57.01 crore each) take the second and third positions.
Interestingly, the pay packages declined for only two -- Kalanithi and Kavery Maran -- among these ten in 2011-12, while all others saw their remunerations fatten in the year.
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India's highest paid executives
Pawan Munjal (Rank 4)
Salary: Rs 34.47 crore (Rs 344. million)
Hero MotoCorp's MD and CEO, Pawan Munjal (Rs 34.47 crore) is the fourth highest paid executive in India.
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India's highest paid executives
Brijmohan Lall Munjal (Rank 5)
Salary: Rs 34.44 crore (344.4 million)
Brijmohan Lall Munjal (Rs 34.44 crore) is among the five top-paid executives.
These pay packages include salary, perquisites, profit-linked incentives or commissions and other benefits.
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India's highest paid executives
PRR Rajha (Rank 6)
Salary: Rs 29.34 crore (Rs 293.4 million)
Madras Cements' PRR Rajha was ranked 6th (Rs 29.34 crore).
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India's highest paid executives
Photographs: Adnan Abidi/Reuters.
Shinzo Nakanishi (Rank 7)
Salary: Rs 28.14 crore (Rs 281.4 million)
Maruti Suzuki's Shinzo Nakanishi is ranked 7th in the list of highest paid executives.
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India's highest paid executives
BG Raghupathy (Rank 8)
Salary: Rs 25.98 crore (Rs 259.8 million)
BGR Energy's Chairman and Managing Director, BG Raghupathy ranks 8th in terms of highest salaries in India.
The collective remuneration of 15 highest-paid executives rose by about Rs 38 crore (Rs 380 million) to Rs 478 crore (Rs 4.78 billion).
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India's highest paid executives
Photographs: Reuters.
Carl-Peter Forster (Rank 9)
Salary: Rs 23.97 crore (Rs 239.7 million)
Tata Motors' former chief Carl-Peter Forster was at the 9th position.
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India's highest paid executives
Murali K Divi (Rank 10)
Salary: Rs 23.15 crore (Rs 231.5 million)
Murali K Divi, chairman, Divi's Labs' winds up the top ten list. Interestingly, there are only four Sensex companies, whose top executives figure among the ten top-paid persons.
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India's highest paid executives
Photographs: Reuters.
Reliance Industries chief Mukesh Ambani, once the country's highest-paid executive, was not in the top-ten and was ranked 15th with a remuneration of Rs 15 crore (Rs 150 million), which has remained unchanged for four consecutive years now.
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India's highest paid executives
Photographs: Reuters.
Mukesh's younger brother Anil Ambani also saw his total remuneration from the four main companies of Reliance Group fall by nearly two-third during the year, although none of his group firms are currently part of the Sensex.
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India's highest paid executives
Photographs: Reuters.
Those ranked higher than Ambani include Bharti Airtel's Sunil Mittal (Rs 21.3 crore), Hindalco's D Bhattacharya (Rs 19.5 crore), JSW Steel's Sajjan Jindal (Rs 18.18 crore) and Amara Raja Batteries' Jayadev Galla (Rs 17.23 crore).
Among these, Mittal and Sajjan Jindal saw their packages decline during the year 2011-12.
However, a majority of the Sensex companies, which are considered as the country's top-30 blue chip firms, saw their top executives' packages rise 2011-12, even as industry titans like Mukesh Ambani, Kumar Mangalam Birla, Azim Premji and Sunil Mittal either took a pay cut or capped their salaries.
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