Asian Paints CEO's salary has nearly doubled in last five years while the company average was 50%
- KBS Anand, MD & CEO of Asian Paints, took home a total remuneration of ₹11.8 crore in financial year ending March 2019.
- His remuneration has nearly doubled from ₹6.1 crore in five years ago while the median remuneration in the company has grown about 50%.
- The profit for the company grown 60% and the share price has grown 160% in the same period.
AdvertisementAsian Paints is India's largest paints manufacturer and home owners like it more than industries. The sector is largely fragmented where the supply has traditionally, and continues to, exceeded demand.
The company's Managing Director and Chief Executive Officer (CEO), KBS Anand, took home a total remuneration of ₹11.8 crore in financial year ending March 2019. His remuneration has nearly doubled from ₹6.1 crore in five years ago while the median remuneration in the company has grown about 50%.
The CEO's salary makes up for nearly 8% of the total employee cost. An increasing share of its workforce is on contract-- from 60% in FY15 to 68% at the end of FY19.
Last year, the median remuneration grew 10% while the CEO's salary grew 12%. There was a similar gap in the year earlier too.
Going forward, a bunch of uncertain factors will continue to hound the paints sector including the monsoon, early festive season, and the sickness in India's construction as well as automobile industry. The return on capital invested declined for a third year in a row, according to India Infoline, as the company continued to invest in new factories.
The Middle East contributes the largest share of revenue to its international business (47%), with the rest coming from Asia and South Pacific regions. The company has 27 manufacturing plants across the world, of which 17
are based in India. It has a strong distribution network in India with more than 60,000 dealers across the country.
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