Executive Chairman Dheeraj Hinduja
Ashok Leyland’s remuneration to its top executives increased sharply in FY26, according to the company’s annual report filed with the stock exchanges on Monday.Managing Director and Chief Executive Officer Shenu Agarwal’s total remuneration rose 49 per cent to ₹18.32 crore from ₹12.30 crore. His pay included short-term employee benefits of ₹18.16 crore and other long-term employee benefits of ₹0.16 crore.Chief Financial Officer K.M. Balaji recorded the sharpest increase among the executives disclosed. His total remuneration rose to ₹7.45 crore from ₹4.72 crore, an increase of nearly 58 per cent. Balaji became CFO in June 2024 and is now proposed to be appointed as Whole-time Director and CFO.Executive Chairman Dheeraj G. Hinduja’s total remuneration rose more moderately to ₹31.25 crore from ₹28.73 crore, an increase of about 9 per cent. His short-term employee benefits stood at ₹31.17 crore, compared with ₹28.65 crore in FY25.
However, Hinduja’s separate commission and sitting fees increased 65 per cent to ₹1.32 crore from ₹0.80 crore. The aggregate commission and sitting fees paid to other directors rose 26 per cent to ₹11.69 crore from ₹9.30 crore.Remuneration for Whole-time Director Gopal Mahadevan declined to ₹13.73 crore from ₹14.65 crore. His FY25 remuneration included ₹0.84 crore in share-based payment, which was not recorded in FY26.Proposed Remuneration PackagesThe annual report also contains proposed remuneration terms for the next appointments of Hinduja and Balaji.
