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• Annual Report 2018-19
Shaping the future of software driven business
Annexure B to the Report of the Directors
A. Details of the Remuneration as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
1.
The percentage increase in remuneration of each Director, Chief Financial Officer and Company Secretary during the
financial year 2018-19, ratio of the remuneration of each Director to the median remuneration of the employees of the
Company for the financial year 2018-19 and the comparison of remuneration of each Key Managerial Personnel (KMP)
against the performance of the Company are as follows:
Sr.
No.
Name of Director /
KMP and Designation
Remuneration
of Director
/ KMP for
financial year
2018-19
(
`
Million)
% increase in
Remuneration in
the financial year
2018-19
Ratio of
remuneration of
each Director
to median
remuneration of
employees
Comparison of the
remuneration of the KMP
against the performance of
the Company
a.
Dr. Anand Deshpande
Chairman and
Managing Director
21.79
11.51
19.90
The increase
in revenue
was
13.11% and
decrease
in Profit After
Tax was 7.92%
b.
Sunil Sapre
Executive Director and
Chief Financial Officer
12.47 8.42 %^ (excluding
value of perquisite
on exercise of Stock
Options
`
0.88
Million FY 2018-19
and
`
1.02 Million
for FY 2017-18)
10.59 (excluding
value of
perquisite on
exercise of Stock
Options)
c.
Roshini Bakshi
Independent Director
2.20
10.00 %
2.01
d.
Pradeep Bhargava
Independent Director
2.78
3.54%
2.53
e.
Sanjay Bhattacharyya
Independent Director
2.30
4.55%
2.10
f.
Dr. Anant Jhingran*
Independent Director
1.98
9.05%**
1.80
g.
Thomas Kendra
Non-Independent,
Non-Executive Director
2.03
(3.57%)
1.85
h.
Prakash Telang
Independent Director
2.48
12.50%
2.26
i.
Kiran Umrootkar
Independent Director
2.80
24.44%
2.56
j.
Guy Eiferman
Independent Director@
1.99
-
1.94
k.
Prof. Deepak Phatak
Independent Director@
1.95
-
1.90
l.
Amit Are
Company Secretary
2.92
12.70%
2.67 The increase in revenue was
13.11% and decrease in Profit
After Tax was 7.92%
* Dr. Anant Jhingran appointed as an Independent Director on November 21, 2017.
@ Prof. Deepak Phatak and Mr. Guy Eiferman have been appointed as Additional Directors (independent member) on the Board
of Persistent Systems Limited w.e.f. April 24, 2018.
** Percentage increase in remuneration and ratio to median remuneration are based on the annualized remuneration for the
cases where remuneration is paid only for the part of the year.
^ Mr. Sunil Sapre was appointed as an Executive Director w.e.f. January 27, 2018. However, the above percentage is calculated
based on the remuneration of full financial year.
2.
The median remuneration of employees of the Company during the financial year 2018-19 was
`
1,094,712.
3.
In FY 2018-19, there was an increase of 16.61% in the median remuneration of employees.
4.
As on March 31, 2019, there were 7,679 permanent employees who were on the payroll of the Company.
5.
It is affirmed that the remuneration paid, is as per the Remuneration Policy for Directors, Key Managerial Personnel and
other employees.