annual-report-FY2021

92 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS ANNEXURE VI DETAILS OF REMUNERATION Details pertaining to remuneration as required under section 197(12) read with Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 The remuneration of each Director, Chief Financial Officer and Company Secretary, percentage increase in their remuneration during the Financial Year 2020-21 and ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the Financial Year 2020-21 are as under: Sr. No. Name of Director/KMP Designation Remuneration of Director/KMP for the Financial Year 2020-21 (Rs. in crores) (Excluding perquisite value of ESOPs exercised) Remuneration of Director/KMP for the Financial Year 2020-21 (Rs. in crores) (Including perquisite value of ESOPs exercised) % increase in Remuneration in the Financial Year 2020-21 (Excluding perquisite value of ESOPs exercised) % increase in Remuneration in the Financial Year 2020‑21 (Including perquisite value of ESOPs exercised) Ratio of Remuneration of each Director to median remuneration (Including perquisite value of ESOPs exercised) of employees for the Financial Year 2020-21 1. Mr. Anand G. Mahindra Executive Chairman 8.86 8.86 1.61% 1.61% 99.55 2. Dr. Pawan Goenka** Managing Director and CEO 10.19 10.19 1.60% 1.60% 114.49 3. Dr. Anish Shah@* Deputy Managing Director and Group CFO 8.51 9.41 -22.14% -27.95% 105.73 4. Mr. Rajesh Jejurikar@@ Executive Director, Automotive and Farm Sectors 5.70 6.84 29.55% 19.16% 76.85 5. Mr. Nadir B. Godrej#& Independent Director 0.20 0.20 -55.56% -55.56% 2.25 6. Mr. M. M. Murugappan#& Independent Director 0.21 0.21 -58.00% -58.00% 2.36 7. Dr. Vishakha N. Desai# Independent Director 0.44 0.44 4.76% -4.35% 4.94 8. Mr. Vikram Singh Mehta# Independent Director 0.54 0.54 20.00% 20.00% 6.07 9. Mr. T. N. Manoharan# Independent Director 0.51 0.51 4.08% 4.08% 5.73 10. Mr. Vijay Kumar Sharma (Nominee of LIC) $ Nominee Director 0.40 0.40 25.00% 25.00% 4.49 11. Mr. Haigreve Khaitan# Independent Director 0.51 0.51 70.00% 70.00% 5.73 12. Ms. Shikha Sharma# Independent Director 0.50 0.50 78.57% 78.57% 5.62 13. Ms. Nisaba Godrej ^ # Independent Director 0.23 0.23 — — 2.58 14. Mr. Muthiah Murugappan ^ # Independent Director 0.20 0.20 — — 2.25 15. Mr. CP Gurnani ^ ^ Non-Executive Director — — — — — 16. Mr. Narayan Shankar Company Secretary 1.63 1.63 7.95% -21.63% — # The remuneration of Independent Directors covers sitting fees and commission. @ Appointed as Deputy Managing Director and Group Chief Financial Officer with effect from 1 st April, 2020. @@ Appointed as Executive Director (Automotive and Farm Sectors) with effect from 1 st April, 2020. $ Commission is payable to Life Insurance Corporation of India. ^ Appointed as Independent Director with effect from 8 th August, 2020. ^^ Appointed as Non-Executive Non-Independent Director with effect from 1 st April, 2020. * Ceased to be Group Chief Financial Officer with effect from 2 nd April, 2021. ** Ceased to be Managing Director and CEO with effect from 2 nd April, 2021. & Ceased to be Director with effect from 8 th August, 2020. Note: All amounts are rounded off.