Gautam Adani drew ₹2.39-cr salary as Adani Ent chairman in FY23

Adani Enterprises Ltd (AEL) executive chairman Gautam Adani received compensation worth ₹2.39 crore in 2022-23, an annual report released by the Adani Group flagship company showed today. Adani's annual compensation in FY23 saw a slight increase from ₹2.32 crore during the last fiscal year.

Gautam Adani, the second richest man in India, received a total salary worth ₹2.12 crore in FY23, while his perquisites and allowances were ₹27 lakh, the AEL report shows.

The remuneration paid to other executive directors of the Adani group flagship company during the FY2022-23 was ₹5.60 crore to Rajesh Adani, managing director; ₹4.50 crore to Pranav V Adani, director; and ₹52.25 crore to Vinay Prakash, who's the director at Adani Enterprises. Prakash received the highest perquisites and allowances worth ₹49.83 crore and a salary worth ₹2.42 crore, the annual report shows. His annual compensation increased from ₹36.03 crore in FY 2021-22.

Gautam Adani and Rajesh Adani -- on behalf of S.B. Adani Family Trust -- hold 59,13,33,492 equity shares of the company. They hold 1 (one) equity share in each of the companies. "Except above, none of the Directors of the Company hold equity shares of the Company in their individual capacity. The Company does not have any Employees’ Stock Option Scheme and there is no separate provision for payment of Severance Fees," the company says.

The median salary for the board of directors at AEL was ₹1.38 crore (males) and ₹0.32 crore (females), while for key managerial personnel, the median salary stood at ₹5.05 crore. The employees other than the board of directors and key managerial personnel received an average salary of ₹13 lakh for males and ₹7 lakh for females.

As of March 31, 2023, Adani Enterprises Ltd. employed 2,140 individuals; 34% of these employees comprised engineers, chartered accountants, and other professionals. The average age of employees was 38. The employees were located in 50+ locations.

Adani group's flagship company Adani Enterprises Ltd reported a 138% rise in consolidated net profit at ₹722.48 crore during the January-March quarter, as compared to ₹304.32 crore in the same quarter last year. The consolidated revenue surged over 26% to ₹31,346.05 crore during the said quarter from ₹24,865.52 crore in the year-ago period on account of strong performance by IRM and airports business.

For the whole year, Adani Enterprises' total income increased 96% to ₹1,38,175 crore, while PAT for the full fiscal year increased by 218% to ₹2,473 crore.

The Adani Enterprises stock is trading 0.098% down at ₹2,293 on the National Stock Exchange (NSE) today as compared to the previous session close of ₹2,295.6. The stock has fallen 5.28% in the past week; 9.45% in the past month; 39.13% in the past six months; and 40.31% in the year-to-date period.