Nikhil Nanda headed Escorts Kubota will hold their Annual General Meeting on July 18. Ahead of the meeting, the company released its annual report on Wednesday.

What Happened: The company's chairman and managing director, Nanda, received an annual remuneration of ₹12.46 crore for the financial year 2023-24 which is a 3.66% increase from the ₹12.02 crore he was paid in the previous year. His salary is 124.6 times higher than the median salary received by the firm's employees.

The company praised Nanda, who is also the son-in-law of veteran Bollywood actor Amitabh Bachchan, for his leadership and spearheading the firm's operations.

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"He has led the transformative journey of our company to profitable growth and global reach through innovation, strategic planning, and technological collaborations. He has played a central role in leveraging EKL's inherent capabilities to strengthen our position as a company dedicated to frugal engineering," the report added.

Nikhil, son of the late industrialist Rajan Nanda and Ritu Nanda, took over as chairman and managing director of Escorts Kubota Limited after his father’s death. Escorts Kubota Limited is one of India’s leading engineering conglomerates.

Nitasha Nanda, Nikhil's sister and a whole-time director at Escorts Kubota took home a salary of ₹2.91 crore for the year ended March 2024. This represents a 2.11% increase from the year ended March 2023 and is 29.1 times greater than the firm's median salary.

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^{Picture courtesy: Pinaki Andand for Wikimedia Commons}