ITC chairman's salary flat in FY25 after 54% jump in '23-'24
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Kolkata: After a 54% jump in salary in 2023-24, the remuneration of ITC chairman Sanjiv Puri remained almost flat in 2024-25, per the annual report of the FMCG, tobacco and agri major.
Puri's total remuneration was Rs 25.6 crore in 2024-25, compared to Rs 25.2 crore in 2023-24. In FY25, his basic salary was Rs 3.5 crore, perquisites Rs 73 lakh and performance incentive Rs 21.4 crore.
P
uri drew a basic salary of Rs 3.1 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus of Rs 21.5 crore from the diversified conglomerate in 2023-24, according to the company's last annual report.
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In 2022-23, his total remuneration was around Rs 16.2 crore, which included a basic salary of Rs 2.9 crore, perquisites and other benefits of Rs 57 lakh and a performance bonus of Rs 12.8 crore. Sources said Puri's salary hike last year was mainly because of long-term incentives from previous years being paid off.
"The main difference between the components of 2022-23 and 2023-24 was the performance incentive, while other components remained flat.
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In FY25, the performance incentive remained almost the same and overall, it was flat," said a source.
ITC witnessed a 0.8% jump in profit after tax in the fourth quarter of 2024-25 to Rs 4,875 crore from Rs 4,837 crore in the corresponding period of 2023-24 for continuing businesses. The net profit was Rs 19,562 crore for the fourth quarter of FY25 with discontinued business.
Meanwhile, ITC launched over 100 new products in the last fiscal year.
It was anchored on the vectors of health & nutrition, hygiene, protection, care, convenience & on-the-go, indulgence and others.
The FMCG businesses, comprising branded packaged foods, personal care products, education and stationery products, incense sticks (agarbattis) and safety matches, have grown multi-fold over the past several years.
ITC's portfolio of over 25 Indian mother brands, largely built through an organic growth strategy leveraging institutional synergies in a relatively short period of time, represents an annual consumer spend of over Rs 34,000 crore and reaches over 260 crore households in India, the report said.
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