The total remuneration of ITC Chairman and Managing Director, Sanjiv Puri, saw a 6.8% decline during the financial year 2025–26 (FY26), slipping to ₹23.91 crore. According to the diversified conglomerate’s latest annual report, the reduction was primarily driven by lower payouts in performance-linked bonuses and long-term incentives, balancing out an upward revision in his base pay.
The Compensation Breakdown
While Puri’s core salary structure grew, a conservative variable payout trimmed his overall year-on-year take-home package.
| Remuneration Component | FY26 (Current Fiscal) | FY25 (Previous Fiscal) | Change Trend |
| Basic / Consolidated Salary | ₹3.85 Crore | ₹3.53 Crore | ▲ Up 9.0% |
| Perquisites | ₹0.88 Crore | ₹0.73 Crore | ▲ Up 20.5% |
| Performance Bonus & Incentives | ₹19.17 Crore | ₹21.39 Crore | ▼ Down 10.4% |
| Total Remuneration | ₹23.91 Crore | ₹25.66 Crore | ▼ Net Drop of 6.8% |
Key Takeaways from the Annual Report
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The Pay Disparity Ratio: With this adjustment, the ratio of Sanjiv Puri’s remuneration to the median pay of all ITC employees stands at 338:1.
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Equity Holdings: As of March 31, 2026, Puri held 3,00,591 ordinary shares of ITC (singly/jointly) and was granted 1,01,000 stock options, down from 4,52,843 shares and 1,34,500 options in the prior fiscal.
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Corporate Performance Context: The lower variable bonus mirrors a year of consolidated financial stabilization. ITC’s gross revenue climbed 10% to ₹80,867 crore for FY26, though its annual net profit remained relatively flat, growing by less than 1% to ₹20,286 crore amid sharp increases in cigarette taxation.
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FMCG Tailwinds: Despite flat profits, the non-cigarette FMCG segment showed strong operational resilience, with consumer spending surging 9% to ₹37,000 crore, led by a milestone $2-billion (₹20,504 crore) performance from the packaged foods business.
