Pay packets of top executives at some of India’s largest listed companies rose sharply in FY26, with one-fifth of these business leaders earning ₹50 crore and above, and many recording sharp increases in their remuneration.

A businessline analysis of data from company annual reports revealed that HCL Technologies’ C Vijaykumar took home the highest remuneration in FY26, followed by Larsen & Toubro’s SN Subrahmanyan. Asian Paints MD & CEO Amit Syngle recorded the steepest increase in his pay-packet at 179 per cent.

The tech sector remained the most generous employer with HCL Tech, Infosys, Tech Mahindra and Wipro featuring among the top 10 companies with hefty leadership pay-packets. But infra and auto majors such as L&T, M&M, Bajaj Auto, JSW Steel, Hindalco Industries and Ultratech Cement also rewarded their top leaders well.

Subrahmanyan’s ₹120.84 crore remuneration put him comfortably ahead of Infosys MD & CEO Salil Parekh, who received ₹82.60 crore in FY26. Subrahmanyan’s pay also increased 58.5 per cent over FY25, placing him among the executives recording the largest increases during the year.

The remuneration of two technology executives in the Nifty-50 bracket is reported in foreign currencies. HCL Tech’s Vijayakumar received $18.13 million in FY26, following a pay revision. This led to his annual remuneration increasing 67 per cent in FY26, amounting roughly to ₹171 crore at the exchange rate on March 31, 2026. Tech Mahindra MD & CEO Mohit Joshi received £5.4 million, in FY26, amounting to ₹70 crore. Interestingly, N Chandrasekaran, Chairman of Tata Sons, which is unlisted, received ₹158.66 crore in FY26, making him one of the highest paid India Inc leaders. Reliance Industries’ Chairman and MD Mukesh Ambani, Interglobe Aviations’ MD Rahul Bhatia, and Eternal’s new CEO Albinder Singh Dhindsa are among the top 50 heads who voluntarily waived their remunerations.

FY26 was also a year of churn with as many as eight leaders’ of the top 50 companies, changing within the year. Coal India had three Chairm & MD changes. Other notable companies where top leadership changes were seen were Tata Motors PV, Titan, HUL and Bharti Airtel.

The biggest percentage jump in CEO pay was seen in Asian Paints at 179 per cent over FY25. Cipla followed with a 122.7 per cent increase. Jio Financial Services, NTPC and PowerGrid were other companies which recorded large increases in CEO pays.

Published on August 17, 2026