Hyderabad: Chairman and Managing Director of city-based pharma company Divi's Laboratories Murali K Divi is the highest paid executive of the Indian pharma industry with 58.8 crore remuneration which includes salary and commission in 2018-19. According to Divi's latest annual report, Murali Divi, the promoter-executive,was given a hike of 46.3 per cent in his remuneration over the previous fiscal. The company offered nearly 30 crore to its Executive Director N V Ramana and over 20 crore to whole-time director Kiran S. Divi, son of Murali Divi, towards remunerations in the last fiscal.

Murali Divi received close to 57.61 crore through commissions for the year. In FY18, he had received 40.20 crore towards remuneration which included commission of 39 crore. The percentage increase in the median remuneration for the employees of the company for FY19 was 3.96 per cent.

The drug maker clocked 1,333 crore profit after tax (PAT) on 5,036-crore revenues for the year 2018-19. When it comes to other pharma players, Dilip Shanghvi, founder and managing director of countrys largest drug firm Sun Pharmatook home just one as salary and 2,62,800 as perks during FY19.

The country's second largest pharma company in terms of revenues, Aurobindo Pharma paid 14.6 crore towards remuneration in FY 19 to its managing director N Govindarajan,a professional belonging to non-promoter category. The remuneration to Govindarajan included salary and perquisites, commission up to 1 per cent of the net profits of the company (calculated as per the Companies Act, 2013 subject to a ceiling of 10 crore for each financial year).

Aurobindo reported 2,356 crore PAT in 2018-19 on 19,564 crore total revenues. GV Prasad Co-Chairman, Managing Director and CEO of Dr Reddys Laboratories took nearly 12.4 crore home by way of of remuneration in FY19. Prasad, who has been replaced by Erez Israel as CEO from August 1, had received 7.75 crore remuneration during 2017-18. Dr Reddys PAT was up 92 per cent in FY 19 at 1880 crore (revenues 15,400 crore) over the previous fiscal. Umang Vohra Managing Director and Global Chief Executive Office of Cipla Limited was paid 20.23 per cent less when compared to FY 18 to 15.03 crore remuneration in 2018-19. Vohra received 18.85 crore in 2017-18.

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

Close