78-year-old Kumar, best known for his patriotic films Purab Aur Paschim, Upkar and Kranti, became the 47th recipient of the award, the highest recognition in Indian cinema, which consists of a golden lotus, a cash prize of Rs 10 lakh and a shawl.
The wheelchair-bound actor, who was sporting an orange bandana of Sai Baba, also presented the President with a crystal statue of the deity as he received the honour.
Bachchan, accompanied by son Abhishek, daughter-in-law Aishwarya Rai, wife Jaya and daughter Shweta Nanda to the ceremony, won the award for his delightful performance as a hypochondriac father in Shoojit Sircar's family drama Piku.
He received the Rajat Kamal and Rs 50,000. This is the 73-year-old actor's fourth National award. He previously won in 1990 (Agneepath), 2005 (Black) and 2009 (Paa).
Ranaut, 29, currently engaged in a bitter legal fued with actor Hrithik Roshan, won the award for her double role in Anand L Rai's romantic comedy drama Tanu Weds Manu Returns of a troublesome wife Tanu and Haryanvi sports person Datto.
She also received Rajat Kamal and Rs 50,000. It is her third trophy at the National Awards, having earlier won best supporting actress for Fashion and best actress for Queen last year.
SS Rajamouli and producers Shobu Yarlagadda and Prasad Devineni received Swarna Kamal, cash prize and a certificate for their magnum opus Baahubali, which was the best feature film this year.
Sanjay Leela Bhansali's historical romance Bajirao Mastani, starring Ranveer Singh, Deepika Padukone and Priyanka Chopra, earned him the best director honour besides the film bagging five more awards.
"It is so special. It is the acknowledgment of the government. You are being compared with the best of the nation. And there is a great jury comrpsing of talented people. It means a lot. It is a very proud moment for me. It is a reward for the twenty years of my hard work," Bhansali told PTI. The award comprises a Swarna Kamal medallion, a cash prize of Rs 2,50,000 and a certificate.
Superstar Salman Khan-starrer cross-border drama Bajrangi Bhaijaan won the best popular film providing wholesome entertainment. "The film is very special to me. The kind of love that the film has got has made the journey so special. And on top of that to get a National Award is amazing. It makes it all more sweeter," director Kabir Khan said.
Last Updated 6:51 PM IST