Emami’s HV Agarwal draws Rs 8.5 crore in FY26; Still trails Marico, ITC, HUL, Nestlé bosses
Emami Ltd's Vice Chairman and Managing Director, HV Agarwal, total compensation comprised a salary of Rs 3.36 crore salary, commission of Rs 4.55 crore commission, and perquisites and other benefits amounting to Rs 64.72 lakh.
ADVERTISEMENT
Emami Ltd's Vice Chairman and Managing Director, HV Agarwal, witnessed a 22.4% year-on-year increase in his annual compensation for fiscal year 2026. Agarwal's pay package rose to Rs 8.5 crore compared to Rs 6.94 crore in the year ago period. His total compensation comprised a salary of Rs 3.36 crore salary, commission of Rs 4.55 crore commission, and perquisites and other benefits amounting to Rs 64.72 lakh.
In contrast, the median remuneration of Emami employees increased by 9.88%. The average salary hike for employees other than the managerial personnel in the financial year stood at 8.29%, while the average increase in managerial remuneration was 27.13%. According to Emami, these changes in remuneration reflects the company's performance relative to its peer group and align with its internal remuneration policy.
Agarwal's counterparts received significantly higher compensations. Marico MD & CEO Saugata Gupta earned Rs 39 crore in FY26, followed by ITC Chairman Sanjiv Puri with Rs 25.66 crore, former Nestlé India MD Suresh Narayanan at Rs 23.47 crore, former HUL MD Rohit Jawa at Rs 23.23 crore, and Dabur CEO Mohit Malhotra at Rs 14.6 crore, respectively.
Separately, the FMCG sector has seen a slowdown in hiring mandates for senior leadership roles over the past year. Instead, the focus has remained on entry-level and highly specialised job roles. According to the annual reports of Godrej Consumer Products Limited (GCPL), Dabur Limited, and Hindustan Unilever (HUL), the total employee count shrank by 9.26% (average) in fiscal year 2025 (FY25).
HUL's permanent employees count dropped by 8.46% to 6,604 in FY25, compared to 7,215 in the previous year. Dabur's share of permanent employees has also declined steadily —from 30.2% in FY23 to 28.5% in FY24 and 27.3% in FY25. Marico and Tata Consumer Products Limited (TCPL) were outliers in terms of hiring in FY25. TCPL's total employees count has steadily increased year-on-year--3,040 in FY23; 3,488 in FY24, and 4,079 in FY25, respectively. On the other hand, Marico--the maker of Parachute coconut oil--reported a 4.79% YoY increase in its total headcount, reaching 1,857 in FY25.
