- Mohit Joshi's remuneration rose 11.76% in FY26 including ESOPs and 20.39% excluding ESOPs
- Joshi's pay was 1,085.27 times the median employee remuneration in FY26
- CFO Rohit Anand's pay increased 24.29% including ESOPs and 87.52% excluding ESOPs
Tech Mahindra Chief Executive Officer and Managing Director Mohit Joshi received an 11.76% increase in remuneration during FY26, according to the company's latest annual report.
The report showed that Joshi's remuneration, including employee stock ownership plans (ESOPs), rose 11.76% year-on-year. Excluding ESOPs, his remuneration increased by 20.39% during the financial year.
The filing also highlighted the gap between executive compensation and employee pay. Tech Mahindra said Joshi's remuneration was 1,085.27 times the median remuneration of employees during FY26.
Among other key management personnel, Chief Financial Officer Rohit Anand saw his remuneration increase 24.29% including ESOPs and 87.52% excluding ESOPs.
The company's chairman Anand G. Mahindra received a 10.95% increase in remuneration, while several independent and non-executive directors also reported double-digit increases. Independent director Anish Shah recorded a 38.36% rise in remuneration, while independent director Shikha Sharma saw a 34.34% increase.
Tech Mahindra Ltd. is also slated for robust operational growth in financial year 2027, with margin expanding to the 15% range, CEO Joshi told NDTV Profit earlier this year. "On track to achieve 15% margin range in FY27," he underlined in a post-earnings press conference.
The projection comes after the IT giant reported a healthy Q4 for fiscal 2026, with both top and bottom lines registering a sequential growth in the period under review.
In the last quarter of FY26, the company had joined its IT peers and suffered a one-time hit after it made provisions for the Centre's new labour codes. The company had registered a consolidated bottom line of Rs 1,122 crore down over 6% from Rs 1,195 crore in the preceding quarter.
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