Key Insights
- JK Paper to hold its Annual General Meeting on 1st of September
- Total pay for CEO Harsh Singhania includes ₹93.3m salary
- The total compensation is 3,744% higher than the average for the industry
- JK Paper's total shareholder return over the past three years was 3.7% while its EPS was down 21% over the past three years
Share price growth at JK Paper Limited (NSE:JKPAPER) has remained rather flat over the last few years and it may be because earnings has struggled to grow at all. These concerns will be at the front of shareholders' minds as they go into the AGM coming up on 1st of September. It would also be an opportunity for them to influence management through exercising their voting power on company resolutions, including CEO and executive remuneration, which could impact on firm performance in the future. From what we gathered, we think shareholders should be wary of raising CEO compensation until the company shows some marked improvement.
View our latest analysis for JK Paper
How Does Total Compensation For Harsh Singhania Compare With Other Companies In The Industry?
Our data indicates that JK Paper Limited has a market capitalization of ₹69b, and total annual CEO compensation was reported as ₹394m for the year to March 2025. We note that's a decrease of 11% compared to last year. While we always look at total compensation first, our analysis shows that the salary component is less, at ₹93m.
For comparison, other companies in the Indian Forestry industry with market capitalizations ranging between ₹35b and ₹140b had a median total CEO compensation of ₹10m. Hence, we can conclude that Harsh Singhania is remunerated higher than the industry median. Moreover, Harsh Singhania also holds ₹186m worth of JK Paper stock directly under their own name, which reveals to us that they have a significant personal stake in the company.
| Component | 2025 | 2024 | Proportion (2025) |
| Salary | ₹93m | ₹85m | 24% |
| Other | ₹301m | ₹355m | 76% |
| Total Compensation | ₹394m | ₹440m | 100% |
On an industry level, roughly 91% of total compensation represents salary and 9% is other remuneration. In JK Paper's case, non-salary compensation represents a greater slice of total remuneration, in comparison to the broader industry. If non-salary compensation dominates total pay, it's an indicator that the executive's salary is tied to company performance.
JK Paper Limited's Growth
Over the last three years, JK Paper Limited has shrunk its earnings per share by 21% per year. It saw its revenue drop 1.6% over the last year.
The decline in EPS is a bit concerning. And the fact that revenue is down year on year arguably paints an ugly picture. It's hard to argue the company is firing on all cylinders, so shareholders might be averse to high CEO remuneration. Looking ahead, you might want to check this free visual report on analyst forecasts for the company's future earnings..
Has JK Paper Limited Been A Good Investment?
With a total shareholder return of 3.7% over three years, JK Paper Limited has done okay by shareholders, but there's always room for improvement. Accordingly, a proposal to increase CEO remuneration without seeing an improvement in shareholder returns might not be met favorably by most shareholders.
In Summary...
While it's true that the share price growth hasn't been bad, it's hard to overlook the lack of earnings growth and this makes us question whether there will be any strong catalyst for the stock to improve. The upcoming AGM will provide shareholders the opportunity to revisit the company’s remuneration policies and evaluate if the board’s judgement and decision-making is aligned with that of the company’s shareholders.
While CEO pay is an important factor to be aware of, there are other areas that investors should be mindful of as well. That's why we did some digging and identified 3 warning signs for JK Paper that investors should think about before committing capital to this stock.
Arguably, business quality is much more important than CEO compensation levels. So check out this free list of interesting companies that have HIGH return on equity and low debt.
Valuation is complex, but we're here to simplify it.
Discover if JK Paper might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.