The chief executive officer cum managing director of Hindustan Uniliver India, Mr. Sanjiv Mehta received a salary amounting to Rs. 22 crores for the fiscal year of 2021-22 which was sourced from the company’s yearly reports. This is a big jump compared to the Rs. 15 crores he earned in the 2020-21 fiscal year, meaning his salary went up by Rs. 7 crores within the span of a single year.
Out of Rs. 22 crores he earned, only Rs. 3.7 was registered as his salary. His allowances amounted to Rs. 9.2 crores while he received a gratuity of Rs. 4.3 crores. His perquisites amounted to Rs. 4.2 crores.
In the financial year of 2109-2020, Mr. Mehta topped the list of the highest earning chief executive officers in the fast-moving consumer goods category when he raked in an income of Rs. 19.42 crores. A year later his income fell by a fifth and Mr. Suresh Narayanan, the chief executive officer of Nestle India took over his spot with a salary of Rs. 17.19 crores.
However, in the fiscal year that just came to and end, Mr. Narayanan’s income went up by almost 10% which made him earn Rs. 18.8 crores but ended up losing the summit to Mr. Mehta who steamrolled him netting himself Rs. 22 crores in the process. However, we still do not know if this is enough for Mr. Mehta to take top spot as other fast moving consumer goods companies such as Godrej, Dabur, and Britannia still have not published their yearly financial reports. So, it will take a few more weeks to know who will earn the most and take the top spot.
Ritesh Tiwari, the Executive Director, Finance & IT and Chief Financial Officer of HUL took home a pay of Rs. 5.9 crores. Wilhelmus Uijen, the Executive Director took home a pay of Rs. 11.5 crores while Mr. Srinivas Phatak, another executive earned a pay package of Rs. 1.4 crores for the year.
Mr. Mehta’s earnings are close to 180 times more than the median earnings of other employees of the company for the year. The average salary of the employees of the company went up by 3.3% this year. At the end of the recent fiscal year, it was reported that the company had 8,480 full time employees under their wing.
HUL has had a very successful year and their added revenue can be seen by the increase in salary for everyone in the firm.
