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Mint
4 hours ago
- Mint
HCLTech CEO C Vijayakumar earns $10.85 mn in FY25; more than TCS, Infosys heads
New Delhi, Aug 2 (PTI) HCLTech CEO C Vijayakumar earned USD 10.85 million (about ₹ 94.6 crore) in the financial year 2024-25, making him one of the highest-paid executives in the Indian IT sector and surpassing the earnings of chiefs at larger rivals TCS and Infosys. The company's board has also approved an over 71 per cent increase in his current remuneration to USD 18.6 million (about ₹ 154 crore) for the next financial year, according to the company's annual report. Vijayakumar's FY25 compensation places him ahead of his peers at India's top two IT firms. For the same period, TCS CEO K Krithivasan's remuneration was ₹ 26.52 crore, while Infosys CEO Salil Parekh earned ₹ 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia (USD 6.2 million or about ₹ 53.64 crore) and Tech Mahindra CEO Mohit Joshi ( ₹ 53.9 crore). According to HCLTech's annual report, Vijayakumar's total remuneration in the fiscal year ended March 31, 2025, comprised a base salary of USD 1.96 million and a performance-linked bonus of USD 1.73 million. The largest portion of his earnings came from long-term incentives, with exercised Restricted Stock Units (RSUs) valued at USD 6.96 million. An additional USD 0.20 million was provided in benefits and perquisites. Vijayakumar, who took over as the CEO in 2016, is based in the US and draws his remuneration from HCL America Inc., the firm's wholly-owned US subsidiary. "Under C. Vijayakumar's leadership, HCLTech's market capitalisation has increased from ₹ 1,15,000 crore on March 31, 2016, to ₹ 4,32,000 crore on March 31, 2025, reflecting a growth of 3.8 times since FY16. Over the same period, the market capitalisation of the other four leading Indian listed IT services firms among the top five has grown by approximately 2.5 times," the company said. The company's board has approved a revised remuneration package for Vijayakumar, effective April 1, 2025. The proposed annual salary is set at USD 18.6 million, marking a 71 per cent increase from his FY25 earnings. The proposed structure significantly increases both fixed and performance-linked components. "The revised compensation acknowledges C Vijayakumar's successful and long-tenured leadership as CEO, recognising his significant contributions to the company's growth and sustained performance over the years," the report said. HCL Technologies posted a 9.7 per cent drop to ₹ 3,843 crore in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal to 3-5 per cent (from 2-5 per cent earlier) on booking expectations in coming quarters. Shares of HCLTech settled 0.98 per cent lower at ₹ 1,452.95 apiece on the BSE on Friday.
Indian Express
11 hours ago
- Indian Express
NSDL IPO allotment date next week; know how to check status online via PAN
NSDL IPO: Following the close of the subscription of initial public offering (IPO) of National Securities Depository Limited, all eyes of the investors will now be on the finalisation of the allotment of shares. The NSDL IPO allotment will take place next week. The NSDL IPO was opened on July 30 and concluded on August 1. The Rs 4,011-crore initial share sale got bids for 1,44,03,92,004 shares against 3,51,27,002 shares on offer, translating into 41.01 times subscription, as per NSE data, reports PTI. According to the PTI, NSDL IPO received 41 times subscription on the closing day of bidding. Qualified Institutional Buyers (QIBs) garnered 103.97 times subscription. The category for non-institutional investors received 34.98 times subscription and the portion for Retail Individual Investors (RIIs) got subscribed 7.73 times. NSDL has a price band of Rs 760 to Rs 800 per equity share. The NSDL IPO is likely to be finalised on August 4 (Monday). The allotment status will be released online on the official website of the registrar – MUFG Intime India Private Limited. Additionally, the allotment status will also be made available on the official website of the BSE. NSDL IPO Allotment Status Check on MUFG Intime India Private Limited – NSDL IPO Allotment Status Check on BSE Direct Link – NSDL shares are proposed to be listed on BSE. The listing will likely take place on August 6. This upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services (CDSL), which was listed on the NSE in 2017. (With inputs from PTI)
Economic Times
11 hours ago
- Economic Times
Mahindra & Mahindra acquires majority stake in SML Isuzu for Rs 555 cr
Agencies Mahindra & Mahindra SML Isuzu Mahindra & Mahindra (M&M) has acquired 58.96% controlling stake in SML Isuzu with a total investment of INR 555 crore. SML Isuzu Ltd. will be renamed to 'SML Mahindra Limited' after regulatory April 2025, M&M entered into an agreement to acquire a 58.96% equity stake in SML at Rs 650 per share, representing a total investment of Rs 555 crore."It is a big step for M&M towards establishing a strong presence in the >3.5T Commercial vehicles (CV) segment, where the company has a 3% market share presently, as compared to a 54.2% market share in the Sub-3.5 tonne LCV segment," the company acquisition is said to double the market share to 6%, with company's plan to increase this to 10% - 12% by FY31 and 20%+ by FY36. As part of the transaction, M&M would acquire the entire stake of 43.96% held by Sumitomo Corporation, promoter of SML, and separately also acquire 15% stake held by Isuzu Motors Ltd, for an aggregate consideration of INR 555 crore. M&M would also launch a mandatory open offer for acquisition of up to 26% stake from eligible public shareholders of SML in accordance with the SEBI Takeover Regulations. Mahindra & Mahindra Ltd. has appointed Vinod Sahay as Executive Chairman of SML Isuzu w.e.f. August 3 and Dr. Venkat Srinivas as the Executive Director & Chief Executive Officer of SML Isuzu Ltd w.e.f. from August Sahay will continue to serve as President – Aerospace & Defence, Trucks, Buses and Construction Equipment sector of Mahindra group in addition to his new role. Similarly, Dr. Venkat Srinivas will continue to serve as the Business Head for Mahindra Truck & Bus (MTB) and Construction Equipment (CE) in addition to this new role at SML Mahindra has a pan-India presence in the 'Trucks & Buses 'segment with 16% market share in ILCV (Intermediate and Light Commercial Vehicles) Buses segment. Shares of Mahindra & Mahindra Ltd. closed at Rs 3160.20 per unit on August 1 on BSE.
