Tata Motors filed its annual report for the year ended March 2024. As per the report, Group CFO PB Balaji saw his salary go up by 24% compared to last year’s numbers.
For the year ended March 2024, Balaji took home a total salary of ₹20.78 crore. This number stood at ₹16.73 crore for the year ended March 2023. His basic salary stood at ₹3.26 crore and he received benefits, perquisites and allowances worth ₹5.48 crore. Commission, bonus and performance incentives stood at ₹5.76 crore. He also received stock options worth ₹5.87 crore.
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Balaji has been serving as the Group CFO of Tata Motors since November 2017. He started his career at Unilever in 1995, holding various corporate finance and supply chain positions across India, Singapore, the UK, and Switzerland. Before joining Tata Motors, he served as the CFO at Hindustan Unilever. He holds a post-graduate degree in management from the Indian Institute of Management, Calcutta, and is an alumnus of the Indian Institute of Technology, Chennai.
Tata Group chairman N Chandrasekaran received ₹6 lakh as sitting fees. As a Policy, Chandrasekaran has abstained from receiving a commission from the company.
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