Hero MotoCorp’s Pawan Munjal earned whooping Rs 44 crore in 2014-15

If reports are to be believed, Hero MotoCorp's promoter Pawan Munjal is the highest paid director among the top listed private companies as his pay package in last fiscal was around Rs 44 crore.

As per a proxy advisory firm InGovern, Munjal took home Rs 43.91 crore last fiscal, which is 1.84% of his company's net profit.

Munjal was followed by two other executives of the auto group, Brijmohan Lall Munjal, who passed away earlier this month, and Sunil Kant Munjal.

Lall had a pay packet of Rs 43.64 crore and Sunil took home Rs 41.87 crore in 2014-15.

Analysis of salaries of 95 directors in Nifty companies was done and it revealed that on an average remuneration of a director is Rs 9 crore.

As per InGovern, Desh Bandhu Gupta, chairman of Lupin, earned a salary of Rs 37.58 crore, while Larsen & Toubro chairman A M Naik drew an annual remuneration of Rs 27.32 crore.

Among others in the top 10 are Bharti Airtel's Sunil Bharti Mittal (Rs 27.18 crore), Vinita Gupta, CEO of Lupin (Rs 24.86 crore), Hindalco MD D Bhattacharya (Rs 21.59 crore), TCS MD N Chandrasekaran (Rs 21.28 crore) and Ultratech Cement's Kumar Mangalam Birla (Rs 19.04 crore).

On the contrary, pay package of 16 directors was less than 0.05% of the net profits of their firms.

The report stated that remuneration of 11 directors was more than 400 times the median employee remuneration of their companies. This included three directors each of Lupin and Hero MotoCorp and one each of Hindalco, L&T, Cipla, ITC and TCS.

(Image: Indiatimes)