PINAKI MAJUMDAR
Jamshedpur, June 5: Tata Steel Chief Executive Officer and Managing Director T.V. Narendran received a total remuneration of Rs 20.66 crore in FY26, driven largely by a performance-linked commission awarded following the company’s strong financial and operational performance during the year.
Performance-Linked Commission Boosts Total Pay
The company’s annual report reveals that Narendran earned a fixed compensation of Rs 5.66 crore, including a basic salary of Rs 2.34 crore and allowances and perquisites amounting to Rs 3.22 crore.
In addition, the Board approved a performance-based commission of Rs 15 crore, taking his total remuneration for the financial year to Rs 20.66 crore.
Tata Steel Posts Strong Financial Results
The increase comes against the backdrop of a strong year for Tata Steel.
The steelmaker reported consolidated revenue of Rs 2.32 lakh crore and a more than threefold increase in net profit, which exceeded Rs 10,793 crore.
The company attributed the incentive payouts to its robust business performance, profitability growth and operational excellence.
CFO Koushik Chatterjee Receives Rs 16.39 Crore
Executive Director and Chief Financial Officer Koushik Chatterjee also received a performance-linked reward, with his total remuneration reaching Rs 16.39 crore, including a commission of Rs 10.50 crore.
The annual report further noted that both Narendran and Chatterjee maintained a perfect attendance record, participating in all six Board meetings convened during the year.
Chandrasekaran Declines Commission
Meanwhile, Tata Group Chairman N. Chandrasekaran declined any commission in line with the group’s governance practices and accepted only the prescribed sitting fees for attending Board meetings.
The enhanced compensation highlights Tata Steel’s performance-oriented remuneration framework, which links executive rewards to the company’s financial success and value creation for stakeholders.