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 Prasad, who has been replaced by Erez Israel as CEO from August 1, had received ₹7.75 crore remuneration during 2017-18.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.
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