Tech Mahindra (TechM) Chairman Anand G Mahindra’s remuneration fell by 3.5 per cent in FY25 to ₹1.368 crore. His salary was 22 times the median remuneration of the company’s employees, according to the company’s annual report.

Anish Shah, a non-executive director of the Board, also reported a decline in remuneration. With an 8.3 per cent fall in pay, Shah’s salary is still 11.71 times that of the median remuneration of employees.

Company CEO Mohit Joshi earned 840.22 times the median remuneration of employees at ₹53.9 crore. However, the percentage increase for Joshi’s salary was not specified in the report.

“Mohit Joshi was associated for part of the financial year 2023-24 i.e. from 19th June, 2023 to 31st March 2024. Hence, the percentage increase in remuneration is not comparable/ reported,” TechM said in the report.

Earlier, TCS in its annual report had announced that CEO K Krithivasan received a renumeration of ₹26.52 crore, with a salary of ₹1.39 crore. His remuneration was 329.8 times that of the median renumeration of the company.

TechM’s 17 executive committee members have an average base salary of ₹3.41 crore. This includes executives who are in India, the US, the UK, Australia, and West Asia, and whose salaries in local currencies are converted to Indian Rupees. They hold company shares worth around ₹87 lakh on average i.e. 0.25 times the base salary.

The median salary of employees stood at ₹15.4 lakh, while the board of directors enjoyed a median salary of ₹87.61 lakh. The company noted a reduction of 6.52 per cent in the median remuneration of employees in FY25. Of the 1.39 lakh employees, 91,252 were men with a median salary of ₹18.3 lakh, while the 47,999 women employees received a median salary of ₹15.4 lakh.

Published on June 24, 2025