Amar Raja Promoters paid himself a hefty amount of Rs 33.3 crores for the 2015 financial year. No doubt, the company has done very well, snatching market share from its rival. However, relative to the Exide's promoter, his salary is outrageous. In FY15, the MD, the Whole Time Directors, managers, and other Directors of Exide were paid a combined figure of Rs 10.3 crore.
And here's the best part... Gross revenues for Amara stood at Rs 46 billion, about 60% of Exide's FY15 standalone gross sales (Rs 77 billion).
Professor Sanjay Bakshi recently highlighted how a very generous action taken by the promoter of a small-sized company Ambika Cotton went overlooked by the media. The management of this company went on to annul his 2% commission on profits. His reasoning was that he considers himself a shareholder of the company, just like the other investors, and would thus like to be rewarded with dividends.
