Tech Mahindra Chief Executive Officer Mohit Joshi received total remuneration of ₹67.55 crore in FY26, an increase of 11.76% from the previous year, while the company's median employee remuneration declined by 4.89%, according to the company's latest annual report.
The report also shows Joshi's total compensation was 1,085.27 times the median salary of a Tech Mahindra employee during the financial year under review.
CEO compensation sees double-digit increase
According to the annual report, Joshi's remuneration for FY26 stood at £5.4 million. The compensation comprised:
- £2.93 million in Employee Stock Ownership Plan (ESOP) benefits
- £1.11 million as performance pay and bonus
- The remaining amount as salary and other components
The report noted that excluding the ESOP component, Joshi's remuneration increased by 20.39% during the year.
Among Tech Mahindra's board members, Joshi recorded the lowest salary increase after Chairman Anand G. Mahindra, whose remuneration increased by 10.95%. While the chairman's FY26 remuneration was not disclosed in the report, his compensation had declined by 3.5% to ₹1.36 crore in the previous financial year.
Median employee remuneration declines
While executive compensation increased, the company's median employee remuneration moved in the opposite direction. According to the filing:
- Median employee remuneration declined by 4.89% in FY26
- The median remuneration of permanent employees stood at ₹5.9 lakh
- Male employees, excluding managerial personnel and board members, received average remuneration of ₹18.90 lakh
- Female employees in the same category received ₹16 lakh
- Tech Mahindra employed 1.47 lakh people during FY26
The disclosures form part of the remuneration details included in the company's annual report.
Hiring strategy centred on future skills
Despite the decline in median remuneration, Tech Mahindra said it continued investing in workforce capabilities aligned with emerging technologies.
"The focus this year was not only on hiring at scale, but hiring with precision, deploying with discipline, and building capability for the future," the company said in its annual report.
It added that recruitment efforts were directed towards supporting growth in priority markets and service lines while maintaining a strong emphasis on critical capabilities in next-generation technologies, digital engineering, cloud and AI-led transformation.
Balancing leadership rewards with workforce investment
Executive compensation continues to remain a closely watched governance metric across the technology sector, particularly as companies balance shareholder expectations, workforce costs and investments in future capabilities.
Tech Mahindra's latest disclosures highlight the contrast between rising executive remuneration and lower median employee pay during FY26, while also underscoring the company's continued focus on building capabilities in AI and digital technologies as it navigates an evolving technology landscape.
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