Wipro Limited

Wipro Limited, founded in 1945 by Mohamed Hasham Premji, has transformed from a vegetable oil manufacturer to a leading multinational corporation in the information technology and consulting industry. Wipro is investing $1 billion over the next three years to further advance its AI, data and analytics capabilities, expand its AI solutions, develop new R&D and platforms, enhance its Full Stride Cloud offerings, and build new consulting capabilities to help clients unlock value through AI. As part of this AI strategy, Wipro will train all 250,000 employees on AI fundamentals and responsible use of AI over the next 12 months, and provide more specialized AI training for employees in relevant roles.

Key Products

• Applications
• Artificial Intelligence
• Business Process
• Cloud
• Consulting
• Cybersecurity
• Data & Analytics
• Digital Experiences
• Engineering
• Sustainability

Shareholding Pattern

• PUBLIC GROUP
• PROMOTER GROUP
• EMPLOYEE TRUST

Financial Summary

Synopsis of Financials

• IT services revenue grew sequentially by 0.1% in reported currency.
• Order bookings in Q4 stood at $3.6 billion, with large deal bookings TCV of $1.2 billion.
• Total large deal bookings TCV for FY’24 was $4.6 billion, showing a growth of 17.4%.
• Revenue for FY’24 was $10.8 billion in reported currency.

Final Outlook

Wipro on 19th April reported a 7.8 per cent year-on-year drop in its consolidated net profit to Rs 2,834.6 crore for the March quarter. However reported a 5.2 per cent quarter-on-quarter increase in consolidated net profit for the January-March period. The company’s revenue from operations was down 4.2 per cent on-year to Rs 22,208.3 crore, according to an exchange filing. The net profit (attributable to equity holders of the company) declined to Rs 2,834.6 crore in Q4FY24 from Rs 3,074.5 in the year-ago period, translating into a 7.8 per cent fall. The company has delivered a poor sales growth of 8.75% over past five years. Dividend payout has been low at 12.2% of profits over last 3 years. Working capital days have increased from 75.8 days to 158 days.

Wipro has given sequential guidance of (-) 1.5 per cent to +0.5 per cent in constant currency for IT services revenue, for the April-June quarter. The company said in its outlook for the first quarter of 2024-25, said that they expect revenue from the IT services business segment within the range of USD 2,617 million to USD 2,670 million.