Dividend Deluge | ₹40,000 crore windfall boosts Ambani, Adani fortunes in FY25

FY25 witnessed a massive dividend payout from corporate India. According to ICICIDirect, 176 companies announced dividends, totaling a ₹43,000 crore reward to shareholders—marking the lowest number of companies since Q1 FY20, yet a very rich payout thanks to big-ticket players. A notable chunk—about one-third—came from Vedanta and its subsidiary Hindustan Zinc, with the latter declaring a staggering 950% dividend.

How It Enriched the Top Billionaires

Mukesh Ambani

As India’s richest person, Mukesh Ambani benefited significantly. Though he’s known to forgo his personal salary since the COVID era, his wealth primarily comes through dividends from Reliance Industries and its subsidiaries. With Reliance delivering strong returns in refining, petrochem, telecom, retail, and energy ventures, Ambani rode the dividend wave silently—but handsomely. According to recent data, his net worth remains estimated around ₹8.6 lakh crore, even after some dips due to rising debt.

Gautam Adani

Though Gautam Adani pulled a modest ₹10.4 crore as total remuneration in FY25—primarily as salary and commission—he received much more via hefty dividends from his sprawling conglomerate. His group not only posted record pre-tax profit in FY25—an EBITDA of nearly ₹90,000 crore —but also declared robust dividends from sectors like ports, energy, and infrastructure. That translated into windfalls for Adani, pushing his net worth to challenge Ambani’s—he was worth around US $82.5 billion as of June FY25.

Others in the Billionaire Club

Industrial giants like Vedanta (Anil Agarwal) and Bharti Airtel also played a major role. Vedanta/Hindustan Zinc’s combined dividend contribution alone made up a third of that ₹43,000 crore payout. Airtel doubled its per-share dividend (₹8 per share), following its entry into the ₹10 lakh crore market-cap club. Such payouts poured hundreds of crores into the pockets of these corporate leaders and legacy promoters.

Why FY25 Was Special

1. High corporate profits – Especially in natural resources, energy, and infrastructure.

2. Fewer companies, bigger payouts – Only 176 companies paid dividends, but many with unusually large reserves, leading to a windfall effect.

3. Macro tailwinds – Recovery post-COVID, strong commodity cycles, and central bank support (like RBI pumping enormous funds to the govt) created capital liquidity.

Looking Ahead

• Ambani vs Adani: A renewed billionaire duel—with dividends tipping the scales.

• Policy ripple effects: RBI’s record ₹2.69 lakh crore dividend to the government highlights surplus circulation and fiscal sturdiness.

• Wealth gap widened: As the mega-wealthy gained, smaller shareholders may not have benefited proportionally—underscoring widening wealth disparities.

The ₹40,000 crore FY25 dividend boom stands as one of the year’s defining wealth transfer moments in India. Leading billionaires—Ambani, Adani, Agarwal, Bharti’s Mittal and others—reaped the benefits of strong corporate earnings amplified through leverage and macroeconomic factors. Behind the soundbite of a massive dividend number lies a broader narrative: consolidation of wealth among the corporate elite, buoyed by bullish profits in select sectors and favorable financial conditions.