Winning Bizness Desk

Mumbai. Mukesh Ambani has once again decided not to draw any salary from Reliance Industries Limited (RIL), extending his self-imposed pay freeze for the sixth consecutive year. The company’s annual report for FY26 shows that the Reliance chairman and managing director received no salary, allowance, perks or retirement benefits during the financial year. Despite this, Ambani continues to remain among the world’s richest individuals, with dividend earnings from Reliance shares emerging as his main source of income.

Pandemic-era decision still continues

The 69-year-old billionaire had first announced the decision in June 2020 during the Covid pandemic. At the time, he said he would forgo his salary considering the economic and industrial stress caused by the health crisis across the country.

He had also stated that he would not take any compensation until Reliance businesses fully returned to their growth potential.

Since then:

• Mukesh Ambani has not drawn salary from FY21 onwards
• His compensation has remained completely zero for six years
• He had already capped his annual salary at Rs 15 crore in 2008
• No stock options or retirement benefits were taken either

The latest annual report confirms that the arrangement has continued in FY26 as well.

Dividend income crosses Rs 3,996 crore

Though Ambani is not taking a salary, dividend earnings from Reliance shares continue to bring massive income for the promoter family. Reliance Industries has announced a dividend of Rs 6 per share for FY26.

Mukesh Ambani personally owns around 1.61 crore shares of Reliance, which translates into a direct dividend income of nearly Rs 9.66 crore.

The bigger earnings, however, come through promoter group companies controlled by the Ambani family. These firms collectively hold 664.5 crore Reliance shares, amounting to a 50.07% stake in the company.

Key figures from the annual report include:

• Rs 3,987 crore dividend income for promoter group firms
• Rs 9.66 crore dividend from Ambani’s personal holding
• Combined dividend earnings of Rs 3,996.66 crore
• Mukesh Ambani’s estimated net worth stands near $92 billion

The figures underline how dividend payouts remain a major wealth channel for promoter families in large Indian conglomerates.

Children continue different board roles

Reliance’s next generation leadership structure also became clearer through the annual disclosures. Mukesh Ambani’s children — Akash, Isha and Anant — had joined the company board in October 2023 without drawing salaries initially.

In FY26, Akash Ambani and Isha Ambani received only sitting fees and profit-linked commissions. Both were paid Rs 5 lakh as sitting fees and Rs 2.5 crore each as profit commission.

Youngest son Anant Ambani, however, received a larger executive compensation after being appointed executive director last year.

His FY26 package included:

• Total salary of Rs 12.17 crore
• Rs 2.29 crore included as commission component
• Executive responsibilities expanded during the year

The compensation details indicate a gradual transition of operational responsibilities within the Reliance leadership structure.

Senior executives retain strong pay packages

Apart from the Ambani family, Reliance’s senior management compensation remained largely stable. Mukesh Ambani’s cousins, Nikhil and Hital Meswani, continued to receive Rs 25 crore each as remuneration.

Their package included salary, allowances, retirement benefits and commission linked to company profits.

Executive director P M S Prasad also saw a rise in annual compensation. His package increased from Rs 19.96 crore in FY25 to Rs 20.58 crore in FY26.

Meanwhile, Reliance reported mixed financial performance during the January-March quarter of FY26.

• Net profit fell 13% year-on-year to Rs 16,971 crore
• Revenue climbed 13% to Rs 2.98 lakh crore
• Previous year quarterly profit stood at Rs 19,407 crore
• Revenue in the same quarter last year was Rs 2.64 lakh crore

The numbers reflect pressure on profitability despite continued growth in overall business turnover, keeping investor attention firmly on Reliance’s future expansion plans.