Overview
- HCLTech disclosed in its FY26 annual report that CEO C Vijayakumar’s total pay climbed about 66.9% to $18.13 million, a change the company attributes mainly to long‑term incentives and exercised restricted stock units.
- The company provided a detailed breakdown showing a $2.48 million base salary, a $2.0 million performance bonus, $3.94 million in LTI cash, $9.40 million counted as the perquisite value of exercised RSUs, and about $0.31 million in benefits.
- Excluding the LTI cash and the RSU perquisite value, Vijayakumar’s year‑on‑year pay increase was 22.86%, indicating the headline rise was driven by incentive mechanics rather than a large fixed pay increase.
- The annual report said the CEO’s pay was 291.9 times the company’s global median wage; HCLTech reported 170,811 permanent employees on March 31 and another 56,370 in subsidiaries with an aggregate workforce near 227,000 by June 30, and it used PPP conversions to compute the median.
- HCLTech posted mixed FY26 results with revenue up about 11.2% to Rs 130,144 crore and net profit down about 4.3%, and it reported stronger Q1FY27 momentum with June‑quarter revenue of Rs 34,579 crore and net profit of Rs 4,624 crore, a performance that leaves incentive accounting and executive pay ratios likely to draw investor and governance attention.