MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2021-22

80 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS ANNEXURE V DETAILS OF REMUNERATION Details pertaining to remuneration as required under section 197(12) read with Rule 5(1) of the 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 2021-22 and ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the Financial Year 2021-22 are as under: Sr. No. Name of Director/KMP Designation Remuneration of Director/ KMP for the Financial Year 2021-22 (Rs. in crores) (Excluding perquisite value of ESOPs exercised) Remuneration of Director/KMP for the Financial Year 2021-22 (Rs. in crores) (Including perquisite value of ESOPs exercised) % increase in Remuneration in the Financial Year 2021-22 (Excluding perquisite value of ESOPs exercised) % increase in Remuneration in the Financial Year 2021-22 (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 2021-22 1. a) Mr. Anand G. Mahindra € Executive Chairman (upto 11 th November, 2021) 8.33 €€ 8.33 €€ -5.98% -5.98% 95.75 1. b) Mr. Anand G. Mahindra € # Non-Executive Chairman (from 12 th November, 2021) 1.98 €€€ 1.98 €€€ N.A. N.A. 22.76 2. Dr. Pawan Goenka@ Managing Director and CEO 2.15 @@ 2.15 @@ -78.90% -78.90% 24.71 3. Dr. Anish Shah* Managing Director and CEO 9.25 11.89 8.70% 26.35% 136.67 4. Mr. Rajesh Jejurikar Executive Director, Automotive & Farm Sectors 7.19 9.73 26.14% 42.25% 111.84 5. Mr. Vikram Singh Mehta# Independent Director 0.57 0.57 5.56% 5.56% 6.55 6. Dr. Vishakha N. Desai# Independent Director 0.46 0.67 4.55% 52.27% 7.70 7. Mr. T. N. Manoharan &# Independent Director 0.50 0.50 -1.96% -1.96% 5.75 8. Mr. Vijay Kumar Sharma (Nominee of LIC) $# Nominee Director 0.39 0.39 -2.50% -2.50% 4.48 9. Mr. Haigreve Khaitan# Independent Director 0.53 0.53 3.92% 3.92% 6.09 10. Ms. Shikha Sharma# Independent Director 0.49 0.49 -2.00% -2.00% 5.63 11. Ms. Nisaba Godrej^ # Independent Director 0.38 0.38 65.22% 65.22% 4.37 12. Mr. Muthiah Murugappan^ # Independent Director 0.38 0.38 90.00% 90.00% 4.37 13. Mr. CP Gurnani Non-Executive Director — — — — — 14. Mr. Manoj Bhat** Group Chief Financial Officer 4.66 4.66 — — — 15. Mr. Narayan Shankar Company Secretary 1.89 2.58 15.95% 58.28% — € Transitioned to the role of Non-Executive Chairman of the Company with effect from 12 th November, 2021. €€ Includes Leave Encashment of Rs.2.14 crores and excludes Gratuity of Rs.5.36 crores paid upon retirement. €€€ In addition, he is entitled to the Benefits under the Special Post Retirement Benefit Scheme. @ Ceased to be “Managing Director and Chief Executive Officer” as well as the Director of the Company with effect from 2 nd April, 2021. @@ I ncludes Leave Encashment of Rs.2.11 crores and excludes Gratuity of Rs.3.72 crores paid upon retirement. * Re-designated as the “Managing Director and Chief Executive Officer” of the Company with effect from 2 nd April, 2021. Prior to that, he was designated as “Deputy Managing Director and Group Chief Financial Officer”. The remuneration in the above table is for the entire financial year. # The remuneration includes sitting fees and commission. & Re-appointed by the Shareholders at the 75 th Annual General Meeting held on 6 th August, 2021 as an Independent Director to hold office for a second term of 5 consecutive years commencing from 11 th November, 2021 to 10 th November, 2026 (both days inclusive). $ Commission is payable to Life Insurance Corporation of India. ^ Appointed by the Shareholders at the 75 th Annual General Meeting held on 6 th August, 2021 as Independent and Non-Executive Director to hold office for a term of 5 consecutive years commencing from 8 th August, 2020 to 7 th August, 2025 (both days inclusive). ** A ppointed as Group Chief Financial Officer with effect from 2 nd April, 2021. Note: All amounts are rounded off.