Murali Of Divis Lab, at Rs. 58.8 Crores, Is the Highest-Paid Pharma Executive In India
The Chairman and Managing Director of Divis Laboratories Ltd., Murali K Divi, is the highest-paid executive of the Indian pharma industry with about Rs. 58.8 crore remuneration which includes his salary and commission in 2018-19.
According to Divis’ most recent yearly report, Murali Divi, the promoter-executive, was provided a hike of 46.3% in his remuneration over the previous fiscal. The business provided about Rs 30 crore to its Executive Director N V Ramana and over Rs. 20 crores to whole-time director Kiran S Divi, the son of Murali Divi, towards the remunerations in the last fiscal which made him the highest-paid pharma executive of India for the year 2018-19.
Murali Divi received close to Rs. 57.61 crore through the commissions for the year. In Financial Year 2018, he had received Rs 40.20 crore towards remuneration which included the commission of Rs 39 crore. The % increase in the median remuneration for the employees of the company for Financial Year 2019 was 3.96 %. The drug manufacturer clocked Rs 1,333 crore profit after tax
on Rs 5,036 crore revenue for the year 2018-2019. Murali K Divi is the highest paid executive of the Indian pharma industry in 2018-19.When it comes to other players in the Indian pharma industry, Dilip Shanghvi, the founder and managing director of the country’s largest drug firm Sun Pharmaceutical Industries Ltd. took home just Re 1 as salary and about Rs 2,62,800 as perks during the financial Year 2019. Aurobindo Pharma Ltd, the country’s second-largest pharma company in terms of revenue, paid Rs 14.6 crore towards remuneration in Financial Year 2019 to its Managing Director N Govindarajan, a professional belonging to the non-promoter category. The remuneration to Govindarajan included his salary and perquisites, and a commission up to 1 percent of the net profits of the company which was calculated as per the Companies Act, 2013 subject to a ceiling of about Rs. 10 crores for each financial year. Aurobindo Pharma reported Rs 2,356 crore PAT in 2018-19 on Rs 19,564 crore total revenue. These are some of the big names came in the lists of highest-paid pharma executives in India.
The Co-chairman, managing director and chief executive officer of Dr. Reddy’s Laboratories, GV Prasad, took nearly Rs 12.4 crore home by way of remuneration in Financial Year 2019. Prasad has been replaced by Erez Israel as CEO from Aug. 1 and he had received Rs 7.75 crore remuneration during 2017-18.
Dr. Reddy’s PAT was up 92% in the Financial year 2019 at Rs 1,880 crore (where the revenue was Rs 15,400 crore) over the previous fiscal. Umang Vohra, the managing director, and global chief executive officer of Cipla Ltd., was paid 20.23 % less when compared to Financial Year 2018 to Rs 15.03 crores remuneration in 2018-19. Vohra received Rs. 18.85 crore in 2017-18.
Murali K Divi, who gave himself a generous hike of 46.3%, taking his remuneration to Rs.58.8 crores, according to the company’s FY19 annual report became the Highest-Paid Pharma Executive in India.
Author: Ria Roy
