Gautam Adani, India’s second richest individual, received a total remuneration of ₹9.26 crore in 2024, which was lower than that of his key executives and peers in the industry. Reports from the annual filings of Adani Group’s 10 listed companies revealed that Adani drew salaries from only two of these entities in the conglomerate spanning ports to energy sectors.
Adani’s Compensation Details
For the fiscal year 2023-24, Adani’s compensation from Adani Enterprises Ltd (AEL), the flagship company, included a salary of ₹2.19 crore and additional benefits amounting to ₹27 lakh. This brought his total earnings from AEL to ₹2.46 crore, marking a 3% increase from the previous year. Additionally, he received ₹6.8 crore from Adani Ports and SEZ Ltd (APSEZ), as detailed in AEL’s annual report.
Comparison
In contrast, Adani’s younger brother, Rajesh, earned ₹8.37 crore, which included a profit commission of ₹4.71 crore from AEL. His nephew, Pranav Adani, received ₹6.46 crore, including a commission of ₹4.5 crore, according to PTI.
From APSEZ, Adani did not receive a commission but was awarded a ₹5 crore commission, part of which will be payable in the next fiscal year, in addition to a ₹1.8 crore salary. Meanwhile, his son, Karan, earned ₹3.9 crore from APSEZ.
Key executives such as Vinay Prakash, who serves as a director on AEL’s board, received a total compensation of ₹89.37 crore. The Group CFO, Jugeshinder Singh, earned a salary of ₹9.45 crore.
Industry Context
While Mukesh Ambani has forgone his salary since the COVID-19 pandemic, capping it previously at ₹15 crore, Adani’s earnings are notably lower compared to other industry leaders like Sunil Bharti Mittal (₹16.7 crore), Rajiv Bajaj (₹53.7 crore), Pawan Munjal (₹80 crore), L&T Chairman S N Subrahmanyan, and Infosys CEO Salil S Parekh.
Market Position and Challenges
Gautam Adani, valued at USD 106 billion according to the Bloomberg Billionaire Index, has been in competition with Mukesh Ambani for the title of Asia’s richest person. Adani briefly held the top spot in 2022 but faced a significant drop in market value due to a critical report from US short-seller Hindenburg Research, which erased nearly USD 150 billion from his group’s market capitalization at its lowest point last year.
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