Chief executives across listed Tata Group companies received a substantial increase in remuneration in FY26, with pay packages rising by roughly 10% on average, led by strong increases at consumer, technology and manufacturing businesses.
Divergent Growth
The pay hikes come amid reports that Tata Sons Chairman N. Chandrasekaran did not take a salary increase in FY26 as the unlisted group holding company grappled with significant losses and mounting funding requirements at some of its key businesses, including Air India, Tata Digital and Tata Teleservices. While Tata Sons annual report of FY 2026 is not out as yet, in FY 2025 Chandrasekaran was one of India Inc’s top earners as he received a total compensation of Rs 155.81 crore in FY25–up 15%.
Tech and Consumer Leaders
The sharpest increases in FY26 were awarded to Tata Consumer Products Managing Director and CEO Sunil D’Souza and Tata Technologies Managing Director and CEO Warren Harris, whose remuneration rose 21.8% and 23.9%, respectively, according to an analysis of annual report disclosures of listed Tata companies.
Data compiled by FE from 15 listed Tata Group companies whose FY26 annual reports are available shows average CEO remuneration rose to about Rs 13.4 crore from Rs 12.4 crore a year earlier.
The highest-paid executive among the listed group companies was Tata Consultancy Services (TCS) Managing Director and Chief Executive K. Krithivasan, whose remuneration rose 6% to Rs 28.11 crore.
TCS reported a strong performance with the fiscal 2026 consolidated revenue of Rs 267,021 crore–-a growth of 4.6% over the previous year. Despite challenges arising out of AI rollout and falling share prices, TCS’ operating income was Rs 66,838 crore with an operating margin of 25%. The net income was Rs 52,820 crore, a growth of 8.8% over the previous year, with the net margin of 19.8%. Both the operating margin and net margin were the highest over the last four years. Cash flow from operations amounted to 105.9% of net profit, helping TCS retain its position as Tata Sons’ largest dividend contributor.
Indian Hotels Company Managing Director and Chief Executive Puneet Chhatwal was the second-highest paid executive, with remuneration rising 8.7% to Rs 25 crore.
Among other significant increases, Tata Steel Managing Director and Chief Executive T.V. Narendran saw his remuneration rise 19.5% to Rs 20.66 crore. Rallis India Managing Director and Chief Executive Gyanendra Shukla received an 18.4% increase, while Voltas Managing Director Mukundan Menon’s remuneration rose 17.6%. Tejas Networks Chief Executive Anand Athreya and Tata Power Chief Executive Praveer Sinha received increases of 14% and 13.2%, respectively.
The remuneration increases broadly reflected the operating performance of Tata Group companies during FY26, with several businesses reporting higher revenue and profit growth while expanding fresh investments in sectors such as consumer products, technology services, renewable energy and electric mobility.
The analysis excludes companies whose FY26 annual reports are yet to be released, including Titan Company. Compensation data for the newly demerged Tata Motors passenger vehicle and commercial vehicle businesses is also not directly comparable with the previous year.