Tata Elxsi released its annual report for the year ended March 2024 on Saturday.

What Happened: As per the report, the company’s CEO Manoj Raghavan was paid a total remuneration of ₹9.25 crore. This is around a 15% jump from the ₹8 crore he was paid in FY23. His salary was around ₹2.25 crore and he was paid a commission worth ₹6 crore. He also received benefits perquisites and allowances worth around ₹97 lakh.

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His salary is 72 times greater than the median salary of the company. The median salary for the year went up around 3%. Raghavan has over 26 years of industry experience. Before assuming the role of MD & CEO, he served as the Executive Vice President and Head of the Embedded Product Design (EPD) division, where he led sales, delivery, and P&L for the division.

He joined Tata Elxsi Limited in 1997 as Regional Manager, establishing and expanding operations in Japan. He later developed business in South Korea, Taiwan, Singapore, and China. Raghavan holds a B.Tech from IIT Madras, an MBA from the Indian Institute of Foreign Trade, New Delhi, and has completed the Advanced Management Program from Harvard Business School.

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