Business

TCS CEO Rajesh Gopinathan draws Rs 20.36 cr pay package in FY21

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TCS
  • 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.

Tata Consultancy Services CEO and MD Rajesh Gopinathan took home a pay package of about Rs 20.36 crore in 2020-21, consistent with the company’s annual report.

In 2019-20, Gopinathan had received a complete 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 within the last fiscal 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 within the managerial remuneration for the year was 55.22 percent, the report said.

“Increase within the managerial remuneration for FY2021 isn’t comparable FY2020 due to decrease in remuneration of 15 percent in FY2020 insight of the economic conditions impacted by the COVID-19 pandemic wherein the administrators had decided to moderate the chief remuneration for FY2020 to precise solidarity and conserve resources,” it added.

The average annual increase in salaries was 5.2 percent in India. However, during the course of the year, the entire increase is approximately 6.4 percent, after accounting for promotions and other event-based compensation revisions. Employees outside India received a raise varying from 2 to six percent, the report said.

The increase in remuneration is in line with the market trends within the respective countries, it added.

The report said the share increase within the median remuneration of employees in FY2021 was 0.03 percent. TCS permanent employee base was at 4,48,649 at the top of the 2020-21 financial year.

The 26th Annual General Meeting of the Mumbai-based company is going to be held virtually on June 10, 2021.

TCS Chairman N Chandrasekaran said the corporate sees immense opportunities for growth, riding the new technology cycle that has began, powered by the assumption that its differentiated capabilities and collaborative, solution-centric approach make it the well-liked transformation partner of its customers.

“It is building thereon belief, and investing in sharpening the capabilities needed to expand its footprint during this large opportunity,” he said in his letter to the shareholders.

Despite a pointy fall in revenues within the half-moon, TCS made a swift recovery during the remainder of the year and clocked full-year revenues of Rs 164,177 crore in FY2021.

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