Tata Sons Chairman Chandrasekaran earns Rs 113 cr as FY23 remuneration

Tata Sons chairman N Chandrasekaran was paid Rs 113 crore as remuneration for Financial Year 2022-23 (FY23), including Rs 100 crore as commission on profit. Chandrasekaran, 60, was paid a remuneration of Rs 109 crore in FY22.

Sourabh Agrawal, executive director, was paid a remuneration of Rs 27.82 crore, including Rs 22 crore as commission, according to the annual report of Tata Sons, which is the holding company of Tata Group.

Venu Srinivasan, chairman of TVS group, has not taken any money from Tata Sons since his appointment as a non-executive director in 2016. Ajay Piramal, the billionaire owner of the Piramal group, was paid a remuneration of Rs 2.8 crore in FY23 as a non-executive director of Tata Sons.

Among other Tata Sons directors, Vijay Singh, Harish Manwani, Leo Puri, Bhaskar Bhat and Ralf Speth were paid a remuneration of Rs 2.8 crore each for FY23 as commission. Anita George, who was appointed as an independent director in July 2022, was paid Rs 2.1 crore as remuneration.

Tata Sons reported Rs 35,058 crore as revenue in FY23 and a profit of Rs 22,132 crore on a standalone basis. In FY22, the company earned Rs 24,132 crore in revenue and made a profit of Rs 17,171 crore. Among subsidiaries, Tata Consultancy Services (TCS) paid the highest dividend to Tata Sons. Tata Sons reduced its net debt to Rs 20,642 crore in FY23, compared to Rs 27,516 crore in FY22.

Tata Sons said it is registered as a Core Investment Company with the Reserve Bank of India and has transferred Rs 4,426.50 crore in FY23 to a special reserve created as per law.