Investor Presentaiton
MRP
(ii)
Chairman & Managing Director, Managing Director(s)/
Whole-time Director(s):
The level and composition of remuneration will be
reasonable and sufficient to attract, retain and motivate
directors of quality to run the Company successfully. The
remuneration package should adequately compensate
them for the high level of responsibilities shouldered
by them and sensitivity of the position held. The level
of remuneration shall take into consideration the
professional expertise, past credentials and potential of
the person concerned. The compensation package may
comprise of a fixed compensation package in the nature
of monthly and annual pay-out, provision of perquisites,
contribution to retirement benefits, health and insurance
and any other benefits (including provision of loans on
such terms as to interest, repayment and security as
determined by the Board) and commission on profits,
in such proportion and quantum as decided from time
to time based on the Company's business needs and
requirements and prevailing practices in industry.
Besides the above, the remuneration to be paid to
Chairman & Managing Director, Managing Director(s) and
Whole-time Director(s) shall be governed by the provisions
of the Companies Act, 2013 and rules made thereunder
or any other enactment for the time being in force.
(iii) KMP's (other than MD's and WD's), Senior Management
Personnel and other Staff:
The level and composition of remuneration will be
reasonable and sufficient to attract, retain and motivate
persons of the quality required to handle appropriate
management roles in the Company successfully. The
level of remuneration may be based on the qualification,
experience and expertise and potential of the person
concerned and also the responsibilities to be shouldered,
criticality of the job to the Company's business and
any other criteria as considered appropriate. The
compensation package may comprise of a fixed
compensation package in the nature of monthly and
b.
(iv)
annual payout, provision of perquisites, contribution to
retirement benefits, health and insurance and any other
benefits (including provision of loans on such terms as
to interest, repayment and security as determined by the
Board) and variable pay (having a clear relationship to
performance which will meet appropriate benchmarks
relevant to the working of the Company and its goals),
in such proportion and quantum as decided from time
to time based on the Company's business needs and
requirements and prevailing practices in industry.
Directors and Officers Insurance:
Where any insurance is taken by the Company on behalf
of its Directors, KMP's / Senior Management Personnel,
Staff etc., for indemnifying them against any liability, the
premium paid on such insurance shall not be treated as
part of the remuneration payable to any such personnel.
Details of Remuneration to all the Directors for the financial
year ended 31.03.2023
(i)
(a)
The remuneration of the Managing / Whole-time
Directors comprises of a fixed component (viz., salary,
allowances, perquisites and retirement benefits) and
variable components (viz., commission on profit).
Commission is paid as a percentage of net profits
computed as per Section 198 of the Companies Act, 2013
and accordingly the performance metric for payment of
commission is net profits computed as per section 198
of the Companies Act, 2013. The Commission is paid
to the Managing Directors/Whole-time Directors only
after adoption of the audited financial statements by the
shareholders at the Annual General Meeting.
The details of remuneration for the financial year ended
31.03.2023 are as follows:
(a) Name (b) Designation (c) Salary and perquisites
()(d) Commission () (e) Total (*)
Mr. KM Mammen (b) Chairman & Managing Director
(c) 182616308 (d) 115636452 (e) 298252760;
(a) Mr. Arun Mammen (b) Vice Chairman and Managing
Director (c) 133910866 (d) 115227000 (e) 249137866;
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