Sanjiv Puri, chairman and managing director of Limited, saw a 6.8 per cent decline in his total remuneration in FY26 to ₹23.91 crore, largely due to a fall in performance bonuses and long-term incentives or commissions, the company’s latest annual report suggested.
Sanjiv Puri’s FY26 vs FY25 remuneration
In FY26, his included a basic and consolidated salary of ₹3.85 crore, perquisites of ₹88 lakh, and ₹19.17 crore in performance-linked bonuses, long-term incentives and commissions, PTI reported.
Whereas, in FY25, the chairman received a total remuneration of ₹25.66 crore, which included a basic and consolidated salary of ₹3.53 crore and perquisites of ₹73 lakh. His performance bonuses, long-term incentives and commissions stood at ₹21.39 crore.
Compared to the previous fiscal, Puri’s basic and consolidated salary, as well as perquisites, were hiked in 2025-26.
Decline in shares held by Puri
As of 31 March 2026, he held 3,00,591 ordinary with a face value of ₹1 each and had also been granted stock options for 1,01,000 shares. In FY25, Puri’s holdings were higher, with 4,52,843 ITC shares held individually or jointly, while stock options for 1,34,500 shares had been granted to him.
Puri’s remuneration 338 times the median remuneration of employees
The annual report also revealed that Puri’s remuneration was 338 times the median remuneration of the company’s . The company’s median remuneration for its 10,368 male employees stood at ₹5,30,593 in FY26, while the median remuneration for 683 female employees was ₹2,25,424.
According to ITC, “The majority of female workers are employed in new manufacturing units. Since a significant majority of these recruits are new entrants, the median remuneration appears lower.”
Compared with FY25, the company’s FY26 data showed that the median remuneration of employees rose by roughly four per cent, while the average remuneration of employees declined by two per cent.
ITC bets on FMCG, sustainable businesses for next growth phase
According to the annual report, the company has laid out an ambitious medium-term growth roadmap focused on boosting its business, expanding digital agriculture, scaling up its fresh food and sustainable packaging segments, and achieving net-zero operations by 2050.
The conglomerate said it continues to aspire to become India’s top FMCG company by strengthening its core brands, expanding into value-added adjacencies, and developing new portfolios focused on health, nutrition, convenience, and premium products.
The annual report said Puri has led the “ITC Next” strategy, which is aimed at driving growth and profitability through digital transformation, innovation, sustainability, and emerging businesses such as Fresh Food, ITCMAARS, and sustainable packaging.
Under this strategy, ITC said its ITCMAARS digital agriculture platform is targeting the onboarding of 4,000 Farmer-Producer Organisations and plans to reach one crore farmers by 2030.
ITC said it will continue to invest in sustainable packaging, including recyclable and fibre-based substitutes for single-use plastic. The company also described its recently announced acquisition of the pulp and paper business of Aditya Birla Real Estate Limited as a strategic move to strengthen and expand its paperboards segment.
(with agency inputs)