What CEOs at India’s Top FMCG Companies Get Paid
Saugata Gupta of Marico Ltd. was the highest paid chief executive officer of a consumer goods company in the year ended March. Emami Ltd.’s SK Goenka earned the least among peers.
Here’s what the top executives of consumer goods makers earned in the last financial year. Varying with each company, salaries of CEOs included base pay, performance-linked incentives, stock options and other benefits, according to their annual reports.
Saugata Gupta, Marico
Gupta, managing director and chief executive officer at Marico, took home Rs 16.5 crore in the year ended March, a twofold jump over previous financial year. This includes the perquisite value of the stock options worth Rs 7.7 crore exercised by him, the company said in its annual report. Gupta’s salary was 188 times the median pay at the company.
- The company’s profit rose 12 percent to Rs 789.59 crore during this period, over the previous year
Vivek Gambhir, Godrej Consumer Products
Gambhir, managing director and chief executive officer at Godrej Consumer Products Ltd., took home Rs 15.95 crore as pay, a drop of 18.7 percent over the previous year. He still earned 377 times the median pay of a worker at the firm.
- The company’s profit rose 57 percent to Rs 1,304 crore during the period, year-on-year.
Sanjiv Mehta, HUL
Mehta, MD and CEO of the country’s largest consumer goods maker Hindustan Unilever Ltd., earned Rs 14.2 crore, a 2.4 percent rise. His remuneration was 138 times the average worker’s pay at the company.
- The company’s profit rose 8.5 percent, over the same period its previous year to Rs 4,490 crore in financial year 2016-17.
Issam Bachaalani, Colgate Palmolive
Colgate Palmolive India Ltd.’s MD Issam Bachaalani’s salary nearly doubled. He took home Rs 13.6 crore.
- The company’s profit declined by 0.6 percent to Rs 577.4 crore in the year ended March
KBS Anand, Asian Paints
Anand, MD and CEO at Asian Paints Ltd., earned Rs 9.7 crore, a 25 percent rise. His salary was 137 times the median pay at the company.
- Asian Paints reported a profit of Rs 2,016 crore in 2016-17, up 11.8 over the previous year.
Sunil Duggal, Dabur India
Dabur India’s CEO Sunil Duggal’s pay rose 8.5 percent to Rs 9 crore. He earned 235 times the median pay at the company.
- The company’s profit grew 2.1 percent to Rs 1,277 in the last financial year.
SK Goenka, Emami
Emami Ltd’s MD took home Rs 1.03 crore, the lowest among his peers. His pay is 45 times the median pay at the company, the lowest among consumer goods makers. Goenka, part of the promoter group, doesn’t hold any stock options.
- Emami’s profit fell 6.3 percent to Rs 340.4 crore in the year ended March.
Why ITC’s Deveshwar Was Excluded
- ITC Ltd.’s YC Deveshwar was not considered for the comparison as FMCG contributes only 16 percent to the company’s revenue while more than half comes from the cigarettes business. Deveshwar, who retired as chairman and chief executive officer in February, earned Rs 21.17 core in 2016-17
This article was originally published on BloombergQuint.