An analysis conducted by Capitaline on the highest paid executives in India, came out with its results this week. Naveen Jindal, the youngest scion of the O. P. Jindal Group, continues to be the highest paid individual in India with a compensation of Rs.73.4 crore in fiscal 2011-2012 for the third consecutive year.
Closely following him were media tycoon Kalanithi Maran and his wife Kaveri Kalanithi of Sun TV Network, who held the second and third places with pay cheques worth Rs.57 crore each. Subsequent names on the list are Pawan Munjal and Brij Mohan Lall Munjal of Hero MotoCorp; P.R.Ramasubrahmaneya Rajha of Madras Cements; B.G.Raghupathy of BGR Energy; Murali K. Divi of Divi’s Laboratories; Kumar Mangalam Birla of UltraTech Cement and Sunil Bharti Mittal of Bharti Airtel.
The surprising number 18 in the list was that of Mukesh Ambani, chairman of Reliance Industries Ltd, who topped the list in 2007-08. The elder of the Ambani brothers took home a remuneration of Rs.15 crore in 2011-12, with no pay raise over the previous financial year. A similar story was exemplified by Azim Premji, the erstwhile chairman of Wipro, who saw his remuneration falling by as much as 57 percent to Rs 1.9 crore in fiscal 2011-12, from Rs 2.8 crore in the preceding fiscal.
Interestingly, there are only four Sensex companies whose top executives figure among the ten top-paid corporate chiefs. 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. Another aspect is that the tranche of companies to which these executives belong were a mixed bag if their respective profitability numbers were to be looked at.