iii. The percentage increase in the median remuneration of employees in the financial year: 29.82% iv. The number of permanent employees on the rolls of Company: There are 3,225 permanent employees on the rolls of the Company v. 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 percentile increase already made in the salaries of employees excluding key managerial personnel is 13.64%. The key managerial personnel remunration was increased aound 10% exlcuding two Whole-time Directors and President of the Company. However the amount may vary due to the variation of period of increment. The President remunration was increased around 8% and he is eligible for performacne incentive. The amount is vary due to the profitability. As per the sharehodlers approval the two Whole-time Directors are drawing 9% of the net profit as per the Section 198 of the Companies Act, 2013. However the amount may vary due to the increase in the profitability vi. The Remuneration paid to the Board of Directors and to Key Managerial Personnel is as per the Remuneration policy of the Company. B. Information as per Rule 5(2) of Chapter XIII, the Companies (Appointment & Remuneration of Managerial Personnel) Rules, 2014 LIST OF TOP 10 SALARIED EMPLOYEES FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2024 Sl. No. Director/ Employee Name Designation Annual Gross Remuneration Received for FY23- 24** (` in Million) Qualification Total Years of Experi-ence Date of Joining in the Company Age (Yrs) Last Employment before Joining the Company No of Equity Shares held in the Company (i) Director 1 Mrs. N Bhuvaneswari VC&MD 77.62 B.A 30 12-12-1994 62 - 2,26,11,525 2 Mrs. N. Brahmani ED 62.10 B. Tech., MBA 16 22-04-2013 36 Vertex Venture Management Private Limited, Singapore. 4,30,952 (ii) Employee 1 Mr. M Sambasiva Rao President 30.92* M. Sc, PhD 40 23-Jan-06 67 Joint Secretary, Ministry of Commerce & Industry, Govt of India 93,078 2 Mr. Srideep M Kesavan CEO 17.51 B. Tech, MBA (PGDBM, Mkt. XLRI) 27 09-Aug-21 51 Coca Cola India Private Limited 4,800 3 Mr. A Prabhakara Naidu CFO 10.08 B. Sc, C.A 35 07-Aug-92 63 Heritage Foods Limited - 4 Mr. Jangam Samba Murthy COO 9.75 MBA (Marketing) 35 01-Apr-07 58 Reliance Life Sciences Limited 1,272 5 Mr. Makarand Shastri VP 8.91 MBA (Marketing) 21 18-Jan-22 47 Adani Wilmar Limited. 1,060 6 Mr. Puneet Kusumbia VP 5.96 MBA (Marketing) 22 12-Jun-23 46 Innovative Nutrition Solutions - 7 Mr. Balaji Adivishnu Sr.GM 5.37 MBA (Mkt), M. Sc (Maths) 24 27-Jun-19 48 Real Time Governance - Govt of India - Board's Report STRATEGIC REVIEW STATUTORY REPORT FINANCIAL STATEMENTS 79 HERITAGE FOODS LTD | 32ND ANNUAL REPORT 2023-24
RkJQdWJsaXNoZXIy NTE5NzY=