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Jayadev Galla, the highest paid CEO in AP, Telangana
Highlights
The two Telugu states of Andhra Pradesh and Telangana are home to several listed companies including the likes of pharma majors such as Dr Reddy’s Laboratories and Aurobindo Pharma as well as software firm Cyient and Tirupati-based Amara Raja Batteries.
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Amara Raja Vice-Chairman took home total emoluments of 33.59 cr last fiscal; G V Prasad of Dr Reddy's is at a distant fourth with 12.9 cr
Hyderabad: The two Telugu states of Andhra Pradesh and Telangana are home to several listed companies including the likes of pharma majors such as Dr Reddy’s Laboratories and Aurobindo Pharma as well as software firm Cyient and Tirupati-based Amara Raja Batteries.
Have any of us ever guessed how much salary top corporate honchos of these companies take home every year? A cursory glance through annual reports for 2014-15 of major corporates from the two states revealed that Jayadev Galla, Vice Chairman and Managing Director, Amara Raja Batteries, was the highest paid corporate chief with total emoluments of Rs 33.59 crore for the last fiscal year ended on March 31, 2015.
Jayadev Galla, who is also TDP Member of Parliament from Guntur, took home Rs 2.4 crore as salary and a whopping Rs 31 crore in commission from the profits. His father Dr Ramachandra N Galla, Chairman of the company, received Rs 20.15 crore as commission, the second highest. The battery maker clocked Rs 4,211.3 cr turnover and a net profit of Rs 410.9 crore in FY-15.
N Govindarajan, Managing Director, Aurobindo Pharma Limited, took home third highest total emoluments of Rs 18.41 crore last fiscal. His total pay included a salary of Rs 1.58 crore, Rs 4 crore as commission and Rs 12.46 crore worth of stock options.
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Govindarajan who took over as MD in 2012 was well rewarded for the stellar performance of Aurobindo which clocked 49.6 per cent growth in revenues at Rs 12,120.5 crore last fiscal. Its net profit zoomed by 34.4 per cent to reach Rs 1,575.8 crore. In comparison, K Nithyananda Reddy, Vice Chairman of the company, was paid a little over Rs 1 crore as total salary for the same period.
Dr Reddy’s Laboratories Limited, the leading pharma major from the city, whose revenues went up by 12 per cent at Rs 14,818.9 crore in 2014-15, also paid handsome salaries to its top leaders. G V Prasad, the company’s Co-Chairman and CEO, took home Rs 12.9 crore as total emoluments, the fourth highest among all the corporate heads listed here.
His package comprised Rs 63.6 lakh as salary and Rs 12 crore in commission. His brother-in-law K Satish Reddy, Chairman of the company, was paid Rs 9.66 crore, the fifth highest. Though his salary was same as the Co-Chairman, he received lower commission of Rs 8.5 crore.
C Krishna Prasad, Chairman and Managing Director, Granules India Limited, is also among the corporate leaders who receive high pay package. He was paid a total of Rs 7.37 crore which include Rs 1.3 crore salary and a commission of Rs 5.82 crore. C Uma Devi, Executive Director of the company, took home Rs 5.90 crore including Rs 5.67 crore as commission.
Among the listed software companies based out of Hyderabad, Cyient Limited, formerly Infotech Technologies, carved a niche for itself with total turnover of Rs 2,736 crore last fiscal, an year-on-year upswing of 24 per cent. So, it’s no surprise that B V R Mohan Reddy, the company’s founder and now Executive Chairman, took home Rs 5.67 crore, including Rs 3.5 crore commission, during 2014-15.
Krishna Bodanapu, its Managing Director and CEO, was paid Rs 3.52 crore in total. Interestingly, G V Krishna Reddy, founding Chairman and Managing Director, GVK Group, did not take any salary in the last financial year as the diversified business conglomerate with presence in infrastructure, energy and hospitality could not churn out profits.
GVK Group’s annual report says CMD declined to take any salary until the company starts making profits. However, his son G V Sanjay Reddy, who is Vice Chairman of the group, took home Rs 80,000 as fee for attending board meetings as non-executive director.
By:P Madhusudhan Reddy
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