Tata Consultancy
Services CEO and MD Rajesh Gopinathan took home a pay package of about Rs 20.36
crore in 2020-21, according to the company's annual report.
IMAGE: Tata Consultancy Services Chief Executive
Officer Rajesh Gopinathan. Photograph: Francis Mascarenhas/Reuters
In 2019-20, Gopinathan had
received a total remuneration of Rs 13.3 crore.
According to TCS' annual
report for 2020-21, Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore
in benefits, perquisites and allowances, and Rs 17 crore in commission.
TCS chief operating officer
N Ganapathy Subramaniam drew a pay package of about Rs 16.1 crore in the last
financial year.
This includes
Rs 1.21 crore in salary, Rs 1.88 crore in benefits, perquisites and allowances,
and Rs 13 crore in commission.
The increase in the
managerial remuneration for the year was 55.22 per cent, the report said.
"Increase in the
managerial remuneration for FY2021 is not comparable with FY2020 owing to
decrease in remuneration of 15 per cent in FY2020 in view of the economic
conditions impacted by the COVID-19 pandemic wherein the Directors had decided
to moderate the executive remuneration for FY2020 to express solidarity and
conserve resources," it added.
The average annual increase
in salaries was 5.2 per cent in India.
However, during the course
of the year, the total increase is approximately 6.4 per cent, after accounting
for promotions and other event-based compensation revisions.
Employees outside India
received a wage increase varying from 2 to 6 per cent, the report said.
The increase in
remuneration is in line with the market trends in the respective countries, it
added.
The report said the
percentage increase in the median remuneration of employees in FY2021 was 0.03
per cent.
TCS' permanent employee
base was at 4,48,649 at the end of 2020-21 fiscal year.
The 26th Annual General
Meeting of the Mumbai-based company will be held virtually on June 10, 2021.
Tata Sons chairman N
Chandrasekaran said the company sees immense opportunities for growth, riding
the new technology cycle that has kicked off, powered by the belief that its
differentiated capabilities and collaborative, solution-centric approach makes
it the preferred transformation partner of its customers.
"It is
building on that belief, and investing in sharpening the capabilities needed to
expand its footprint in this large opportunity," he said in his letter to
the shareholders.
Despite a sharp fall in
revenues in the first quarter, TCS made a swift recovery during the rest of the
year and clocked full year revenues of Rs 164,177 crore in FY2021.