Adani Group Chairman Gautam Adani, India’s second richest person, received a total remuneration of Rs 9.26 crore for the financial year ending March 31, 2024. This compensation is notably lower than that of many industry peers and even some key executives within his own conglomerate. The details were disclosed in the annual reports of the 10 listed entities within his extensive ports-to-energy business empire.
Adani drew his salary from only two out of the ten companies in his group, Adani Enterprises Ltd (AEL) and Adani Ports and SEZ Ltd (APSEZ). This represents a modest increase of 3 per cent compared to the previous financial year, as per AEL’s 2023-24 annual report.
While some executives in his conglomerate earned significantly higher salaries, such as Vinay Prakash, key executive and director on AEL board, receiving a total remuneration of Rs 89.37 crore.
The report also highlighted the salaries of Adani’s family members, with his younger brother, nephew, and son all earning varying amounts from the conglomerate. Additionally, key executives in other entities under the Adani Group, such as Adani Green Energy Ltd CEO Vneet S Jaain and Adani Total Gas Ltd CEO Suresh P Manglani, also received substantial salaries.
Despite Adani’s lower salary compared to some of his peers, he has achieved significant success in the business world, ranking 14th on the world’s richest list. The report also mentioned the impact of adverse events, such as a market value decline of $150 billion due to a report by US short-seller Hindenburg Research.
Overall, Adani’s salary and the compensation structure within his conglomerate provide valuable insights into the dynamics of executive remuneration in India’s business landscape.
