Adi Godrej, chairman of Godrej Group
Adi Godrej, chairman of Godrej Group

Adi Godrej's FY19 remuneration 114 times higher than GCPL's median pay

  • Godrej's total remuneration in FY19 stood at 6.07 crore, down 20% from the previous year
  • Gambhir's total remuneration in 2018-19 was 13.1 crore, which was down 33% from the previous fiscal

NEW DELHI: Godrej Consumer Products Ltd (GCPL) Chairman Emeritus Adi Godrej's total remuneration in 2018-19 was 114.18 times higher than the median pay of the company's employees, while that of MD and CEO Vivek Gambhir was 311.26 times more, according to the company's Annual Report.

As per the report, Godrej's total remuneration in FY19 stood at 6.07 crore, down 20 per cent from the previous year.

Gambhir's total remuneration in 2018-19 was 13.1 crore, which was down 33 per cent from the previous fiscal.

According to GCPL, the median remuneration of all its employees for the fiscal year 2018-19 was 4.21 lakh. The percentage decrease in the median remuneration of employees during the year was 6.23%.

The number of permanent employees on the payrolls of the company as on March 31, 2019 was 2,781, the report said.

GCPL Executive Chairperson Nisaba Godrej received a total remuneration of 5.2 crore during 2018-19, which was 123.47 times more than the median remuneration of the employees.

Her remuneration declined by 19% during the year, it added.

According to the company, its Non-Executive Director Jamshyd Godrej received a total remuneration of 23 lakh during the year under review, while those of other Non-Executive Directors Nadir Godrej, Tanya Dubash and Pirojsha Godrej stood at 24 lakh each.

On the other hand, GCPL said its independent directors Aman Mehta, Ndidi Nwuneli, Bharat Doshi and Pippa Armerding received total remunerations of 40 lakh each in FY19.

Independent director Narendra Ambwani's remuneration for the year stood at 41 lakh, while those of other independent directors Omkar Goswami and Ireena Vittal were at 33 lakh and 38 lakh respectively.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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