Tata Sons, the holding company of Tata Group, has disclosed the remuneration details of its key executives and directors for the Financial Year 2022-23 (FY23). Notably, Chairman N Chandrasekaran’s remuneration saw an increase, with a substantial portion being attributed to commission on profit.
Chandrasekaran’s Compensation
N Chandrasekaran, Chairman of Tata Sons, received a total remuneration of Rs 113 crore for FY23. This figure includes a significant Rs 100 crore as commission on profit. In the preceding fiscal year (FY22), Chandrasekaran’s remuneration amounted to Rs 109 crore.
Key Executives and Directors
Sourabh Agrawal, Executive Director, was compensated with a total remuneration of Rs 27.82 crore for FY23, out of which Rs 22 crore constituted commission. Other directors, including Vijay Singh, Harish Manwani, Leo Puri, Bhaskar Bhat, and Ralf Speth, received Rs 2.8 crore each as commission for the same fiscal year. Independent director Anita George, who joined in July 2022, was remunerated with Rs 2.1 crore.
Additional Insights
Tata Sons reported a revenue of Rs 35,058 crore for FY23, with a standalone profit of Rs 22,132 crore. In contrast, FY22 recorded revenue of Rs 24,132 crore and a profit of Rs 17,171 crore. Among its subsidiaries, Tata Consultancy Services (TCS) paid the highest dividend to Tata Sons. In terms of financial management, Tata Sons managed to reduce its net debt from Rs 27,516 crore in FY22 to Rs 20,642 crore in FY23.
Strategic Financial Status
Tata Sons emphasized its status as a Core Investment Company registered with the Reserve Bank of India (RBI). In line with regulatory compliance, the company transferred Rs 4,426.50 crore to a special reserve during FY23.
