Gautam Adani’s Fiscal Year 2023-24 Remuneration Stands at Rs 9.26 Crore, Lower than Industry Peers

New Delhi/Panjab Post
Gautam Adani, India’s second richest person, reported a total remuneration of Rs 9.26 crore for the fiscal year ending March 31, 2024, according to annual reports from the Adani Group’s listed entities. This figure marks a decrease compared to his counterparts in the industry, as well as several key executives within his conglomerate.
Adani, 61, drew salaries from two out of the group’s 10 companies, with Adani Enterprises Ltd (AEL) contributing Rs 2.19 crore and an additional Rs 27 lakh in perquisites and allowances. His remuneration from AEL saw a 3% increase from the previous year, totaling Rs 2.46 crore. Furthermore, he received Rs 6.8 crore from Adani Ports and SEZ Ltd (APSEZ).
In comparison, Adani’s compensation remains notably lower than that of other prominent figures in India’s corporate landscape. Mukesh Ambani, the richest Indian, has forgone his salary since the onset of Covid-19, having previously capped it at Rs 15 crore. Other industry leaders like Sunil Bharti Mittal, Rajiv Bajaj, and Pawan Munjal have reported higher earnings in recent years.
Despite fluctuations in his wealth – currently estimated at USD 106 billion – Adani has vied with Mukesh Ambani for the title of Asia’s wealthiest individual. His ranking has oscillated following market volatility triggered by critical reports, including one from US short-seller Hindenburg Research.
In terms of family members within the Adani Group, Adani’s brother Rajesh received Rs 8.37 crore, including commission earnings from AEL, while nephew Pranav Adani earned Rs 6.46 crore, also inclusive of commission payments.
Vinay Prakash, a key executive and director at AEL, reported a total remuneration of Rs 89.37 crore, underscoring the diversity in earnings within the conglomerate.