89 | Annual Report | 2023-2024 ANNEXURE - IV Remuneration details of Directors, KMPs, Employees Sl. No Particulars Disclosures 1. The ratio of the remuneration of each Whole-Time director to the median remuneration of the employees of the Company for the financial year. 85.92: 1 2. The percentage increase in remuneration of each Director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year. KMP (#) % increase in remuneration MD 18.99% CFO 21.43% CS 28.17% (#) KMP remuneration does not include variable pay component. 3. The percentage increase in the median remuneration of employees in the financial year. 8.70% 4. The number of permanent employees on the rolls of the Company. 9,333 employees as on March 31, 2024. 5. The explanation on the relationship between average increase in remuneration and company performance. The Company had a growth of 355.46% in its Total Comprehensive Income and increased the remuneration of its employees by an average of 7.91% based on the recommendation of the NRC Committee. 6. Comparison of the remuneration of the Key Managerial Personnel against the performance of the company. The Company’s total comprehensive income has grown by 355.46% and revenue has grown by 49.83% in FY 2023-24 in comparison to FY 2022-23. The average increase in remuneration of KMP in the FY 2023-24 was 22.86%. 7. Variations in the market capitalization of the Company, price earnings ratio as at the closing date of the current financial year and previous financial year and percentage increase over decrease in the market quotations of the shares of the Company in comparison to the rate at which the company came out with the last public offer in case of listed companies, and in case of unlisted companies, the variations in the net worth of the Company as at the close of the current financial year and previous financial year. As on March 31, 2024, the Company’s equity shares were not listed. The Company’s equity has been increased from INR 1,338.03 crores as on March 31, 2023 to INR 1,914.76 crores as on March 31, 2024 – increased by 43.10%. 8. Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration. The average increase in the salaries of employees was 7.91% and the average increase in the managerial remuneration was 18.99% without variable pay component. 9. Comparison of the each remuneration of the Key Managerial Personnel against the performance of the Company. The Company’s total comprehensive income has grown by 355.46% and revenue has grown by 49.83% in FY 2023-24 in comparison to FY 2022-23. The average increase in remuneration of KMP in the FY 202324 was 22.86%. 10. The key parameters for any variable component of remuneration availed by the Directors. Yearly incentive as per employment terms based on the company’s performance and profits. 11. The ratio of the remuneration of the highest paid director to that of the employees who are not directors but receive remuneration in excess of the highest paid director during the year. No employee received remuneration in excess of the highest paid director. 12. Affirmation that the remuneration is as per the remuneration policy of the company. Yes.
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