Mukesh Ambani drew no salary for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board.
Ambani had capped his annual remuneration at Rs 15 crore from financial year 2008-09 to 2019-20; and since FY21, he opted to forego his salary, due to Covid-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
In 2023-24, he got ‘nil’ as salary, allowances, and perquisites as well as retiral benefits, according to the latest annual report of the company.
The remuneration of Ambani’s cousins Nikhil and Hital Meswani rose to Rs 25.31 crore and Rs 25.42 crore respectively in 2023-24 from Rs 25 crore each in FY23. This included Rs 17.28 crore commission (unchanged from the previous two fiscal years).
Executive director P M S Prasad saw his remuneration rise to Rs 17.93 crore. He drew Rs 13.50 crore in 2022-23 including performance linked incentives for 2021-22 which was paid in 2022-23. In 2021-22, he drew Rs 11.89 crore.
Ambani’s wife Nita, who was a non-executive director on the company’s board till August 28, 2023, earned Rs 2 lakh as a sitting fee and another Rs 97 lakh commission for 2023-24.
His three children – Isha, Akash and Anant, who were appointed to the board in October last year at nil salary, got Rs 4 lakh each as sitting fee and Rs 97 lakh as commission.