ITC Chairman Sanjiv Puri's FY26 pay drops 6.8% to ₹23.91 crore on softer bonus
Sanjiv Puri's total remuneration slipped to ₹23.91 crore from ₹25.66 crore as performance-linked bonuses eased. He still earned 338x ITC's median employee pay. Annual report reaffirms ITC Next push to lead Indian FMCG via fresh foods, sustainable packaging and digital agri.
What happened
ITC chairman Sanjiv Puri's FY26 remuneration fell 6.8% to ₹23.91 crore on lower performance bonuses. Annual report reiterates ITC Next strategy to become
Key facts
- ₹23.91 crore FY26 remuneration
- 6.8% decline
- ₹25.66 crore FY25
- 338x median employee pay
- 10,368 male employees
- 683 female employees
- 4,000 FPOs target
- 1 crore farmers by 2030
Why this matters
ITC's reaffirmed ITC Next agenda—fresh foods, sustainable packaging, digital agri—telegraphs continued bolt-on appetite in premium FMCG adjacencies and agri-tech, with leadership compensation aligned to delivery.
What to watch
- AGM voting outcome on remuneration resolution (dissent >15%)
- Q3/Q4 FY26 FMCG segment margin trajectory
- GST council action on cigarette taxation
- Sustainable packaging capex announcements and digital agri (ITCMAARS) user metrics
- Any board-level FMCG demerger study disclosure
- Track ITC Next capex disclosure and fresh foods SKU launch cadence over next two quarters
- Monitor proxy advisor (IiAS, SES) reports on FY26 remuneration resolution at AGM
- Watch for BAT residual stake action and any FMCG demerger commentary
- Benchmark Puri's pay vs HUL, Nestle India, Britannia CEOs to gauge peer drift