Mahindra Group’s MD & CEO Anish Shah get Massive Salary Hike
Mahindra Group reported significant sales of Rs 121,269 crore in fiscal year 2023, representing a 34% increase. Furthermore, the company earned a net profit of Rs 10,282 crore, a 56 percent rise over the previous year.
Mahindra Group’s MD & CEO Anish Shah get Massive Hike in Salary
Anish Shah, MD & CEO of Mahindra Group, is slated to receive an 83 percent compensation increase in 2023.
Anish Shah‘s monthly salary would increase significantly from Rs 30 lakh to Rs 55 lakh for the new fiscal year. The revised salary would be effected from August 1, 2023.
In addition to the bracket salary, the performance pays component will also be increased, which is based on both Shah’s individual success and the company’s overall performance.
According to Financial Express, the Performance Pay will not exceed 235% of the Annual Basic Salary from FY2023 to FY2025.
Rajesh Jejurikar, who has been the Executive Director and CEO of the Automotive and Farm Sector since April 2020, is set to receive an 84 percent pay raise. His monthly remuneration will be increased from Rs 26 lakh to Rs 48 lakh.
Jejurikar, like Anish Shah, will see an increase in the Performance Pay component, which is connected to his personal performance as well as the general performance of the company. The Performance Pay will be limited to a maximum of 235% of the Annual Basic Salary from FY2023 to FY2025.
Mahindra Group reported significant sales of Rs 121,269 crore in fiscal year 2023, representing a 34% increase. Furthermore, the company earned a net profit of Rs 10,282 crore, a 56 percent rise over the previous year.
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