Hero Honda paid directors Rs 78 crore last fiscal

The country's largest two-wheeler maker Hero Honda's entire board of directors drew a total of Rs 77.93 crore as remuneration during 2008-09, up 25 per cent from the previous fiscal.

According to the company's Annual Report for 2008-09, the five executive directors, including Chairman Brijmohan Lall and Pawan Munjal, together took home Rs 77.52 crore, while the 12 non-executive directors drew Rs 40.82 lakh as remuneration in the last fiscal.

The company's Chairman Brijmohan Lall Munjal received a total remuneration of Rs 19.79 crore, while his son and the MD Pawan Munjal was paid Rs 19.69 crore in the same period.

Among the non-executive directors, Pradeep Dinodia received highest amount of Rs 13.05 lakh, followed by former Chief of Army Staff Gen (retd) V P Malik, who took away Rs 9.39 lakh, the report said.

In the fiscal 2007-08, four executive directors of the company were paid a total of Rs 61.83 crore as remuneration, while the non-executive directors drew Rs 45.85 lakh totalling an outgo of Rs 62.29 crore.

During 2008-09, the company's total income stood at Rs 12,539.84 crore and profit after tax was Rs 1,281.76 crore.