Gautam Adani draws Rs 9.26 cr salary in FY24, Adani Ports debuts on Sensex

Gautam Adani, Chairman of the Adani Group and one of the wealthiest Indians in the world, took home a remuneration of Rs 9.26 crore in the fiscal year 2023-’24 (FY24), which is actually lesser than many of his key executives as well as several industry peers.

Annual reports of 10 listed companies of the Adani Group for FY24 show Gautam Adani drew a remuneration from only two firms of his conglomerate, Adani Enterprises Limited and Adani Ports & SEZ Limited.

The 61-year-old billionaire’s remuneration from Adani Ports & SEZ was Rs 6.8 crore, including a salary of Rs 1.8 crore salary and a commission worth Rs 5 crore that will be payable in FY25 fiscal, according to the company’s annual report.

His total remuneration from the group’s flagship company, Adani Enterprises Limited (AEL), was Rs 2.46 crore. The AEL remuneration comprised a salary of Rs 2.19 crore besides allowances and benefits worth Rs 27 lakh, and was 3 per cent higher than the past fiscal year.

The combined remuneration that Gautam Adani drew in FY24 is lower than several important executives in his companies. Vinay Prakash, key executive and director on the AEL board, drew Rs 89.37 crore as total remuneration while Vneet S Jaain, CEO of Adani Green Energy, earned a salary of Rs 15.25 crore. Group CFO Jugeshinder Singh drew Rs 9.45 crore.

Gautam Adani’s remuneration is also lesser than the country’s other super-rich tycoons including Pawan Munjal, who earned Rs 80 crore, Rajiv Bajaj (Rs 53.7 crore) and Sunil Bharti Mittal (Rs 16.7 crore).

The wealthiest Indian, Mukesh Ambani, has not drawn a salary since the Covid-19 days.

Gautam Adani and Mukesh Ambani have been in a contest in the recent past for the crown of the richest Asian. Currently, Ambani is the 12th richest person in the world while Adani occupies the 14th spot. The Bloomberg Billionaire Index has stated that Gautam Adani is worth $106 billion.

ADANI PORTS DEBUTS ON SENSEX

Meanwhile, shares of Adani Ports make a debut on the S&P BSE Sensex on Monday, June 24 2024, even as Wipro departs from the 30-stock index. The occurrence is a part of the exchange’s semi-annual rejig.

Passive inflows worth $259 million can be expected along with the addition of 14.9 million shares, the brokerage firm Nuvama has predicted, as Adani Ports starts trading on the Sensex. Wipro’s exit, on the other hand, could lead to outflows worth $170 million.