Total remuneration of Bharti Airtel chairman Mr Mittal dipped by a marginal 2.52 per cent in FY15, from Rs 27.88 crore in 2013-14, largely because of a sharp decline in his “performance linked incentives”, from Rs 13.5 crore to Rs 8.25 crore.
His salary and allowances have otherwise almost doubled to Rs 18.46 crore in 2014-15.
Disclosing these details, the company in its annual report for 2014-15 said that Mr Mittal’s remuneration was 323.63 times of the median remuneration for all its employees.
This ratio is the highest in case of Mr Mittal in comparison to any other director for the company, followed by CEO (India and South East Asia) Gopal Vittal, whose remuneration was Rs 5.34 crore (excluding perquisite value of stock options) – 63.63 times of the median staff pay.
There has been a decrease of 2.3 per cent in median remuneration of employees in fiscal year 2014-15. The number of permanent employees on the payroll of the company was 9,202, as of March 31, 2015.
The revenue growth during 2014-15 was 11.17 per cent and net profit growth was 100 per cent. The average increase in the remuneration of employees excluding key managerial personnel was 10 per cent.
All listed companies have been asked to mandatorily disclose these ratios and comparisons, beginning fiscal year 2014-15, under the new corporate governance norms by capital market regulator Securities and Exchange Board of India (Sebi).
The company posted revenue of Rs 92,039.4 crore for the year whereas the net profit stood at Rs 5,183.5 crore.
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