Auto manufacturer Ashok Leyland is due to hold its 75th Annual General Meeting on July 25, the company said in a press release. Ahead of the meeting, the Hinduja Group subsidiary released its annual report.
What Happened: The annual report showed chairman Dheeraj G Hinduja's salary increasing by 33.33% in the year ended March 2024 compared to a year earlier when he took home around ₹18 crore. Hinduja earned ₹24 crore in the period which was 194.38 times more than the median remuneration of the firm's employees.
The firm's median remuneration for the year 2023-24 stood at over ₹12 lakh, which represented an 11.43% increase from the previous year. There were 9,607 employees on the company's rolls at the end of March 2024.
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Gopal Mahadevan, Ashok Leyland's CFO, was the second highest-paid executive director followed by CEO Shenu Agarwal. Mahadevan took home over ₹10 crore in the financial year 2023-24 which was 82.69 times the firm's median salary. Agarwal was paid ₹8.54 crore for the same period.
Dheeraj Hinduja, son of Gopichand Hinduja, joined the company in 1996 and was appointed as the chairman in 2010.
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