Source: SEBI Annual Report 2017-18
Hat Tip: A Mitra
Source: TBZ Annual Report 2017-18
The Chairman & MD Shrikant Zaveri makes this promise in his letter to shareholders
He then backs up his promise by delivering value to himself and his two daughters (Binaisha and Raashi) via handsome salary packages.
Raashi Zaveri’s Salary:
Now, no one would grudge these salaries if the Company was performing well.
But take a look at the Consolidated Profits of the Company:
Promoter’s salaries is around 2/3rds of the Net Profits of the Company !!
So when the Promoter says his business model is delivering value to shareholders, he means it is delivering value to shareholders who also happen to be family members !