This IT company CEO earns Rs 940000000, more than Noel Tata's TCS, Narayana Murthy's Infosys heads, he is…, company is…
The company's board has also approved an over 71 per cent increase in his current remuneration to USD 18.6 million (about Rs 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. TCS, Infosys CEOs Salary
For the same period, TCS CEO K Krithivasan's remuneration was Rs 26.52 crore, while Infosys CEO Salil Parekh earned Rs 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia (USD 6.2 million or about Rs 53.64 crore) and Tech Mahindra CEO Mohit Joshi (Rs 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. Who Is HCLTech CEO Vijayakumar?
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 Rs 1,15,000 crore on March 31, 2016, to Rs 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 Rs 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.
(With Inputs From PTI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
7 minutes ago
- Economic Times
The Sleep Company raises Rs 480 crore in funding led by ChrysCapital, 360 One Asset
ETtech Priyanka and Harshil Salot, cofounders, The Sleep Company Direct-to-consumer startup The Sleep Company has raised Rs 480 crore in a mix of primary and secondary funding round, with private equity firm ChrysCapital and 360 One Asset investing in the part of the transaction, early backer Fireside Ventures made a partial exit through secondary share sales. Cofounder Harshil Salot told ET that the round was evenly split between primary and secondary components. 'We had Fireside Ventures who was our earliest backer, they have taken a part exit in a secondary and the balance is primary. The predominant use of this fund is on development of our teams and on our retail expansion footprint,' he said. The company plans to add 130-150 stores over the next two years, building on its current network of 160 stores across 47 in 2019 by husband-wife duo Harshil and Priyanka Salot, The Sleep Company sells products such as mattresses, pillows, bedding, cushions, office chairs, recliners, and sofas. It plans to deepen its presence in metro and tier-I cities while expanding in tier-II Salot said around 85% of The Sleep Company's sales now come from its direct-to-consumer website and offline outlets, with the remaining 15% coming from marketplaces such as Amazon and Flipkart.'We continue to see strong traction not only in the top cities but also the tier I and tier II cities and we want to continue to double down on our omnichannel strategy because we believe that is a very strong part for our business,' he added. The funding comes at a time when key competitors such as Wakefit and Duroflex are preparing for initial public offerings. Wakefit filed its draft red herring prospectus (DRHP) in June to raise Rs 468 crore through a fresh issue, while Duroflex is also looking to go public in the next 18 months, according to Reuters. Sheela Foam, which owns Sleepwell, is currently the only listed player in the space. Harshil Salot said the IPO plans of rivals including Wakefit and Duroflex signal a maturing of the domestic sleep and home furnishing industry. 'It's great for the increases awareness about this category and these products, which will help all of us.'The company said it currently has an annualised revenue run rate (ARR) of Rs 750 crore and has achieved profitability at an earnings before interest, taxes, depreciation and amortisation level in the last to Tracxn, The Sleep Company closed fiscal year 2024 with a revenue of Rs 320 crore on a net loss of Rs 58.7 it does not yet have an international presence, Harshil Salot said global expansion is part of the company's long-term Mumbai-based firm, which employs around 1,500 people, is ramping up hiring across product development and retail teams, with a portion of the new funding earmarked for this expansion.'This investment also represents a compelling opportunity to participate in India's broader premiumisation wave—where consumers are increasingly gravitating towards high-quality, science-led, and design-first products that enhance everyday living,' said Rajiv Batra, director and consumer sector lead, ChrysCapital said in a statement. 'We believe The Sleep Company is poised to become a dominant force not only in sleep solutions but across the wider comfort and wellness landscape.' It last raised Rs 184 crore in December 2023 from Premji Invest and Fireside Ventures. Prior to that, it secured Rs 177 crore in 2022 in a round led by Premji Invest, with Fireside also participating. The company is also evaluating new acquisition targets for acquisitions in the space. Priyanka Salot, cofounder of The Sleep Company, said that when the company launched five-and-a-half years ago, new brands were entering the market every two to three months. However, most of those no longer exist or have been acquired, and she expects the trend of consolidation to continue. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Berlin to Bharuch: The Borosil journey after the China hit in Europe FIIs are exiting while retail investors stay put. Will a costly market make them pay? BlackRock returns, this time with Ambani. Will it be lucky second time? Paid less than plumbers? The real story of freshers' salaries at Infy, TCS. Stock Radar: Down 27% from highs! Hero MotoCorp stock shows signs of momentum after breaking out from 11-week consolidation For those prepared for the long game: 5 mid-cap stocks from different sectors with an upside potential of 14 to 33% in one year Financial services: Time to look at a new set for the next cycle? 5 stocks from the financial services space with upside potential of up to 37% These 8 banking stocks can give more than 29% returns in 1 year, according to analysts
Economic Times
7 minutes ago
- Economic Times
Fintech lender Zype raises Rs 90 crore in round led by Japanese VC fund Unleash Capital Partners
Mumbai-based digital lending startup Zype has raised Rs 90 crore in a fresh funding round led by Japanese venture capital firm Unleash Capital Partners. Existing investor Xponentia Capital also participated in the round. This round comes after the 2022-founded startup raised its first major institutional round of Rs 146 crore last year, thereby bringing the total equity raised to Rs 236 crore. Unitus Capital was the exclusive advisor for the transaction, the company said in a statement. Zype received a non-banking finance company (NBFC) licence in 2023 and, since then, has been disbursing loans from its books. Its current assets under management (AUM) stands at Rs 400 crore, and since its inception, it has disbursed Rs 1,300 crore. Competing with the likes of Fibe and Kreditbee, Zype extends unsecured personal loans but only caters to young salaried consumers. Its borrowers have typically used Zype for wedding expenses, home repair, and health emergencies in their families. 'We have grown this business in a measured and profitable manner. With the new raise, we are good to grow for the next 12-18 months without the need for a fresh equity round,' said Yogi Sadana, founder, Zype. Sadana was previously the chief executive officer of fintech lending startup, Cashe. He quit Cashe to start his own digital lending business in June the NBFC is not yet rated by credit rating agencies, Sadana said that with the new capital raise and some scale-up of business operations, he is looking to get ratings, which will help him source credit lines from more banks and the startup is at an annual recurring revenue run rate of Rs 150 crore and is growing profitably month-on-month (MoM). Sadana said that while the startup did not report net profit for FY25, given that it broke even only in the last quarter, from FY26 the company will report net profit at the end of the to data from business intelligence platform Tracxn, Zype closed FY24 with a net operating revenue of Rs 20.3 crore and a net loss of Rs 7.3 crore. This funding round comes at a time when consumer lending startups are trying to shake off the tough few months of November to February, when traditional lenders slowed down lending to fintech startups. With the interest rate cycle turning favourable and the festive season coming up, the sector is hopeful of good growth over the coming months. ET reported on August 5 that Fibe is looking to close a $35 million funding round from IFC. Sadana is also hopeful of good business over the festival season, when consumption trends pick up, and the holiday season, when people tend to spend more. 'We have a 250-member team already, with a special focus on technology and keeping collections in-house,' Sadana said. 'We have even built an AI lab internally to work on cutting-edge technologies,' he added.
&w=3840&q=100)
First Post
9 minutes ago
- First Post
Trump says he 'does not know anything about' US imports of uranium, fertilizers from Russia
Trump on Tuesday said he was unaware that the United States imports uranium and fertilisers from Russia, a point India has raised while defending its oil trade with Moscow against Western criticism. read more US President Donald Trump on Tuesday said he was unaware and 'don't know anything about' United States imports uranium and fertilisers from Russia, a point India has highlighted while defending its trade ties with Moscow amid growing Western criticism. Responding to a question about US imports of Russian uranium and chemical fertilisers, even as Washington targets India's oil trade with Moscow, Trump said, 'I don't know anything about it. I have to check…' STORY CONTINUES BELOW THIS AD US imports from Russia quietly rise #WATCH | Responding to ANI's question on US imports of Russian Uranium, chemical fertilisers while criticising their (Indian) energy imports', US President Donald Trump says, "I don't know anything about it. I have to check..." (Source: US Network Pool via Reuters) — ANI (@ANI) August 5, 2025 His remarks come even as American imports from Russia continue to quietly rise. Between January and May this year, US imports jumped 23 per cent year-on-year to $2.1 billion, driven by sharp increases in palladium (up 37 per cent), uranium (28 per cent), and fertilisers (21 per cent). While this marks a partial rebound, overall US merchandise imports from Russia had fallen to $3 billion in 2024, down 90 per cent from 2021, the year before the Ukraine war began. Trump ramps up pressure on India Trump earlier ramped up pressure on India, warning of a sharp increase in tariffs within '24 hours' over its continued oil purchases from Russia. 'India hasn't been a fair trading partner. They do a lot of business with us, but we don't get the same in return,' he said in an interview with CNBC. 'We had settled on a 25 percent tariff, but I'm going to raise it significantly because they're buying Russian oil and fueling the war machine,' he added. India hits back over 'unjustified and unreasonable' tariffs India hit back strongly on Monday, calling the threat 'unjustified and unreasonable' and asserting it would take all necessary steps to safeguard its national interests and economic security. External affairs ministry spokesperson Randhir Jaiswal pointed out that India has been repeatedly targeted by the US and EU over its energy imports from Russia, even as many Western nations continue trade with Moscow. 'In this background, the targeting of India is unjustified. Like any major economy, India will act to protect its interests,' he said. STORY CONTINUES BELOW THIS AD
