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Jagran Josh

23.06.2024: Gautam Adani, the renowned Indian billionaire and the country’s second wealthiest individual, disclosed receiving a total salary package of Rs 9.26 crore for the fiscal year ending on March 31, 2024. Interestingly, this remuneration stands notably lower than what numerous industry peers and even certain executives within his conglomerate received. The specifics were laid out in the annual reports of the 10 publicly listed entities within his extensive business empire, spanning from ports to energy sectors.

Gautam Adani’s Compensation Breakdown

Adani Enterprises Ltd (AEL)

  • Salary and Perquisites: Rs 2.19 crore
  • Allowances and Other Benefits: Rs 27 lakh
  • Total Remuneration: Rs 2.46 crore

This indicates a modest 3% increase compared to the previous fiscal year, as outlined in AEL’s 2023-24 annual report.

Adani Ports and SEZ Ltd (APSEZ)

  • Total Remuneration: Rs 6.8 crore

Adani’s salary falls below that of most heads of large family-owned conglomerates in India.

While the richest Indian, Mukesh Ambani, has forgone his entire salary since the COVID-19 pandemic began, previously capping his remuneration at Rs 15 crore, Adani’s compensation is significantly lower than notable figures such as Sunil Bharti Mittal, Rajiv Bajaj, Pawan Munjal, S N Subrahmanyan, and Salil S Parekh.

Gautam Adani held the title of the richest Asian in 2022 but lost it after a significant market value drop due to a report by US short-seller Hindenburg Research.

Mint

Notable Earnings Within Adani Group

  • Rajesh Adani: Rs 8.37 crore
  • Pranav Adani: Rs 6.46 crore
  • Gautam Adani’s Commission from APSEZ: Rs 5 crore (including a future Rs 5 crore commission payable in 2024-25)
  • Karan Adani (Gautam’s son): Rs 3.9 crore

Additionally, key executives within the Adani Group, such as Vinay Prakash and Jugeshinder Singh, received substantial remunerations of Rs 89.37 crore and Rs 9.45 crore, respectively. CEOs of various Adani Group companies like Vneet S Jaain, Suresh P Manglani, and Angshu Mallick also received notable salaries.

The AEL annual report highlighted an average remuneration increase of 12% for employees, excluding key managerial personnel, with a slightly higher increase of 5.37% for KMPs. CEO of Adani Power, S B Khyalia, received Rs 5.63 crore in remuneration

Source – News18 English