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Tech Mahindra Has The Highest Pay Gap Among Nifty Companies

Do top executives at India Inc make a whole lot more than most of their employees? 



A customer holds Indian rupee notes at a store (Photographer: Dhiraj Singh/Bloomberg)
A customer holds Indian rupee notes at a store (Photographer: Dhiraj Singh/Bloomberg)
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The gap between salaries of the top-most executive and the average employee is the highest at information technology firm Tech Mahindra Ltd. and the least for state-run miner Coal India.

Companies such as Lupin Ltd., Larsen & Toubro Ltd., Cipla Ltd. and Hero Motocorp Ltd. also feature on the list of companies with widely divergent pay packages, an analysis of 38 companies on the Nifty 50 index showed.

  • CP Gurnani, managing director and chief executive officer of Tech Mahindra tops the list. His take-home pay for the financial year 2016-17 was 3,538 times higher than the median salary of an employee in Tech Mahindra, data compiled by BloombergQuint shows. This was a big jump from FY16 when his salary was 867 times the median pay.
  • Lupin’s founder, the late DB Gupta, earned more than 1,200 times the median pay. The gap has reduced from last year’s 1,317 times, but his salary rose by 6 percent to Rs 48 crore.
  • L&T ranks third as Chairman AM Naik’s remuneration is over 1,000 times the median pay at the company.
  • For Subhanu Saxena of Cipla, the gap is 816 times; and for Pawan Munjal of Hero MotoCorp it’s 731 times.
Tech Mahindra Has The Highest Pay Gap Among Nifty Companies

Topping the list of companies where that divergence is the least is Coal India, followed by Kotak Mahindra Bank.

  • The state-owned PSU's former director Mohan Das earned only 13 times more than the average salary of an employee. His salary in FY17 increased three times to Rs 1.2 crore compared to FY16.
  • Uday Kotak of Kotak Mahindra Bank took home a salary which 47 times higher than the median pay, up from 42 times in the previous financial year.
  • The salary gap of top officials of Axis Bank, HDFC and Tata Steel was in the range of 78 to 94 times compared to the median pay.
Tech Mahindra Has The Highest Pay Gap Among Nifty Companies
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