Anand Mahindra got 16.38% wage hike to Rs. 7.67 cr in FY17
Mahindra and Mahindra (M&M) Chairman Anand Mahindra took home salary of Rs 7.67 crore during 2016-17, an increase of 16.38 per cent from the previous fiscal, says the company's annual report.
In terms of ratio of his remuneration to that of the median remuneration of employees, it was 108.27, the report added.
Similarly, Managing Director Pawan Goenka received Rs 7.39 crore as remuneration, excluding perquisite value of ESOPs exercised for 2016-17. This was an increase of 15.86 per cent, said the report.
The ratio of Goenka's remuneration to that of the median remuneration of employees was 104.43. As per the report, the median remuneration of employees of the company in 2016-17 was at Rs 7.08 lakh.
"In the financial year, there was an increase of 0.43 per cent in the median remuneration of employees," it added.
The report further said the average percentage decrease made in the salaries of
employees other than managerial personnel in 2016-17 was 1.46 per cent whereas the decrease in the managerial remuneration for the year was 7.35 per cent.