ITC adds 68 employees in the crore club in FY24: How much do the top executives earn?

ITC, India’s conglomerate company, added 68 much employees, earning much than a crore successful FY24, according to their yearly study for 2023-24.

“There were 350 employees, who were employed passim the twelvemonth and were successful receipt of remuneration aggregating '102 lakh oregon much oregon were employed for portion of the twelvemonth and were successful receipt of remuneration aggregating ` 8.5 lakh per period oregon much during the fiscal twelvemonth ended 31st March, 2024,” the study said.

For FY 23, 282 employees received a wage of implicit a crore. The full fig of employees for the fiscal twelvemonth was 24,567, a emergence of 3.5 per cent from the erstwhile year. The median remuneration for employees accrued by 5 per cent, whereas for the CEO and the enforcement director, it is astatine 50 per cent and 60 per cent, respectively, according to the report. The median remuneration for antheral apical executives is ₹1.11 crore, and for pistillate apical executives is ₹1.07 crore. The median wage for antheral employees is ₹7.14 lakh, and for pistillate employees is ₹7.03 lakh. The gross wages paid to pistillate employees retired of the full wages was astatine 10%.

Sanjiv Puri, the president and managing manager of ITC, received gross remuneration of ₹28.62 crore for FY24, a 49.6% emergence from the erstwhile year.

B. Sumant, the enforcement manager of ITC received a gross wage of ₹13,6 crore for FY24, which is simply a 52.4% summation from the erstwhile year.

The different apical executives besides saw a remuneration hike from astir 30% to 50%.

“The Chairman and each of the Executive Directors are entitled to show bonus for each fiscal twelvemonth up to a maximum of 300% and 200% of their basic/consolidated salary, respectively, arsenic whitethorn beryllium determined by the Board connected the proposal of the Nomination & Compensation Committee; specified remuneration is linked to the show of the Company successful arsenic overmuch arsenic the show bonus is based connected assorted qualitative and quantitative show criteria,” the study said.

ITC posted a gross gross of ₹69,446.20 crore and its EBITDA stood astatine 24478.61 crore. For FY23 its gross gross was astatine ₹69,480.89 and EBITDA was astatine 23,944.47 crore.

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