Mahindra group's top executives witness up to 98% jump in salaries

Anish Shah and Rajesh Jejurikar received pay hikes of up to 98 per cent in FY25 as Mahindra Group delivered strong growth in its automobile and farm sectors

Mahindra & Mahindra’s top executives saw a significant jump in compensation in FY25, with some receiving pay hikes of up to 98 per cent, reflecting the group’s robust performance across segments.

 

Group Chief Executive Officer and Managing Director Anish Shah saw his remuneration nearly double — rising 95.42 per cent to ₹47.33 crore from ₹24.22 crore a year earlier. Rajesh Jejurikar, Executive Director and Chief Executive Officer (Auto and Farm Sector), also received a 98 per cent hike in pay, drawing ₹38.27 crore compared to ₹19.25 crore in FY24.  A major portion of Anish Shah’s compensation was from the exercise of stock options, which benefited from the rise in the company’s share price. The increase in his total remuneration was driven by the doubling of the stock price.

 

Chairman Anand Mahindra’s remuneration stood at ₹5.62 crore, marginally up from ₹5.15 crore the previous year.

 

The hikes come on the back of a robust financial year for the Mahindra Group. In FY25, the company’s consolidated revenue grew 14 per cent to ₹1,59,211 crore, while profit after tax surged 20 per cent to ₹12,929 crore. The automobile segment saw revenues rise 19 per cent to ₹90,825 crore, with profit after tax (PAT) climbing 25 per cent to ₹5,907 crore. The farm division posted a 6 per cent rise in both revenue and PAT, reaching ₹35,375 crore and ₹3,792 crore, respectively.

 

“FY25 was an exceptional year for the Mahindra Group, reflecting strong, broad-based growth and stellar execution across businesses,” said Anish Shah. “The launch of our Electric Origin SUVs redefines quality standards and marks a significant milestone in India’s EV journey.” 

 

Meanwhile, at Tata Motors, Executive Director Girish Wagh’s remuneration rose by 22 per cent to ₹8.5 crore, including employee stock ownership plan (ESOP) and perquisites, as the company continues its focus on commercial vehicle leadership and EV transition.