Sajjan Jindal, the chairman and managing director of JSW Steel earned 875 times more than the median salary of the firm’s employees.

What Happened: JSW Steel released the annual report which showed Jindal taking home a whopping ₹73.39 crore in the financial year 2023-2024. The majority share of his salary included a profit-linked commission of ₹59.31 crore. His current salary is 40% higher than the ₹51.3 crore he took home for the year ended March 2023.

This represented a ratio of 875:1 when compared to the median salary of the employees in the firm. JSW Steel said it had 15,493 permanent employees in the firm as of March 31, 2024. Their median remuneration during the period was ₹8.39 lakh, which was a 2.75% increase from the year before. The average increase in the managerial remuneration stood at 13.11%.

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Jindal has been serving on the board of JSW Steel since 1994. He is also the chairman and managing director at JSW Energy and chairman at JSW Infrastructure. As the CMD of JSW Energy, Jindal earned ₹13.4 crore.

Jayant Acharya, the joint managing director and CEO of JSW Steel, was paid ₹16.27 crore during the period which was 194 times more than the median remuneration of employees, the second-highest margin among the Key Managerial Personnel (KMP).

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