WIPRO - Wipro
📢 Recent Corporate Announcements
Wipro has announced a strategic partnership with Kongsberg Digital to deploy AI-powered Digital Twin solutions for the Energy & Utilities sector. The collaboration integrates Wipro Intelligence™ solutions, including Industrial-AssetsAI and UpstreamAI, with Kongsberg's Industrial Work Surface platform. This joint offering aims to provide real-time physics-based engineering models and enterprise AI to enhance operational safety and efficiency. The partnership leverages Wipro's global presence across 65 countries and its workforce of over 240,000 employees to scale industrial digitalization.
- Strategic partnership with Kongsberg Digital to target the global Energy & Utilities sector
- Integration of Wipro Intelligence™ AI suite with Kongsberg's Industrial Work Surface platform
- Focus on real-time digital twins for plants, grids, and distributed asset networks
- Aims to accelerate digital transformation for asset-intensive organizations across 65 countries
- Combines physics-based engineering models with real-time operations and enterprise AI
Wipro Limited has allotted a total of 3,79,881 equity shares on April 21, 2026, following the exercise of Employee Stock Option Plans (ESOPs). The allotment consists of 3,41,897 shares under the ADS Restricted Stock Unit Plan 2004 and 37,984 shares under the Restricted Stock Unit Plan 2007. This is a standard administrative procedure used to fulfill employee compensation obligations. The resulting dilution to existing shareholders is negligible given the company's large total equity base.
- Total allotment of 3,79,881 equity shares pursuant to ESOP exercise
- 3,41,897 shares issued under the ADS Restricted Stock Unit Plan 2004
- 37,984 shares issued under the Restricted Stock Unit Plan 2007
- Allotment date confirmed as April 21, 2026
Wipro Limited has initiated a postal ballot to seek shareholder approval for a significant buyback of up to 60 crore equity shares. The buyback is priced at ₹250 per share, totaling an aggregate amount of ₹15,000 crore, which represents 5.72% of the total paid-up equity capital. The process will be conducted via the tender offer route, with 15% of the offer reserved for small shareholders. Additionally, the company is seeking approval for the appointment of two Independent Directors to its board.
- Buyback of up to 60,00,00,000 equity shares at a fixed price of ₹250 per share.
- Total buyback size capped at ₹15,000 crore, representing 24.99% of standalone paid-up capital and reserves.
- 15% reservation for small shareholders as defined by SEBI Buyback Regulations.
- Remote e-voting period scheduled from April 22, 2026, to May 21, 2026.
- Proposed appointment of Ms. Laura Marie Miller and re-appointment of Ms. Tulsi Naidu as Independent Directors.
Wipro reported a marginal 0.2% sequential growth in Q4 IT services revenue at $2.65 billion, though full-year FY26 revenue declined 1.6% in constant currency. The company announced its largest-ever buyback of ₹15,000 crore at ₹250 per share, aiming to return significant capital to shareholders. While margins remained stable at 17.2% for the year, management provided a cautious Q1 FY27 guidance of -2% to 0% growth due to client-specific delays in the BFSI sector. A major highlight was a strategic deal with Olam Group expected to exceed $1 billion in contract value.
- Q4 IT Services revenue reached $2.65 billion, up 0.2% QoQ but down 0.2% YoY in constant currency.
- Board approved a ₹15,000 crore buyback at ₹250 per share, representing 5.7% of total paid-up capital.
- Full-year FY26 operating margins expanded by 15 basis points to 17.2% despite macroeconomic headwinds.
- Total order bookings for Q4 stood at $3.5 billion, including 14 large deals worth $1.4 billion.
- Guidance for Q1 FY27 projects a sequential revenue growth range of -2.0% to 0.0% in constant currency.
Wipro Limited has officially released the audio and video recordings of its earnings press conference for the quarter and year ended March 31, 2026. The conference, held on April 16, 2026, provides detailed context on the company's financial performance and strategic direction. Shareholders and analysts can access these materials on the company's investor relations portal. This filing ensures transparency and equal access to information for all market participants following the Q4 results.
- Audio and video recordings of the Q4 FY 2025-26 earnings press conference are now available for public viewing.
- The session was conducted on April 16, 2026, following the announcement of annual financial results.
- Access is provided through a dedicated link on Wipro's official newsroom website for transparency.
Wipro Limited has filed the formal Independent Auditor's Report for the quarter and financial year ended March 31, 2026. The statutory auditor, Deloitte Haskins & Sells LLP, has provided an unmodified opinion, confirming that the standalone and consolidated financial statements present a 'true and fair view' of the company's performance. This filing includes the mandatory Unique Document Identification Number (UDIN) for regulatory compliance. The report follows the initial financial results announcement made on the same day.
- Statutory auditor Deloitte Haskins & Sells LLP issued a 'true and fair' opinion on FY26 results.
- The report covers both Standalone and Consolidated financial results for the period ending March 31, 2026.
- Filing includes the mandatory Unique Document Identification Number (UDIN: 26110815QQQVGC8155).
- Financials were prepared in compliance with Regulation 33 of the SEBI (LODR) Regulations, 2015.
Wipro's Board has approved the re-appointment of Ms. Tulsi Naidu as an Independent Director for a second five-year term effective July 1, 2026. Ms. Naidu, who has been on the board since 2021, currently serves as the Chairperson of the Nomination and Remuneration Committee. With 29 years of global financial services experience, including her role as CEO Asia-Pacific at Zurich Insurance Group, her continuation ensures leadership stability. The appointment is subject to shareholder approval and will extend her tenure until June 30, 2031.
- Re-appointed for a second 5-year term from July 1, 2026, to June 30, 2031
- Ms. Naidu brings 29 years of financial services experience across Europe and Asia
- Currently serves as CEO, Asia-Pacific of Zurich Insurance Group and Chairperson of Wipro's Nomination and Remuneration Committee
- The board meeting concluded on April 16, 2026, following a two-day session
- Appointment is subject to the final approval of the company's shareholders
Wipro reported a sequential recovery in Q4 FY26 with net income rising 12.3% QoQ to ₹35.0 billion, although YoY growth remained slightly negative. A major highlight is the Board's approval of a ₹150 billion share buyback at ₹250 per share, representing 5.7% of total equity. While full-year large deal bookings surged 45.4% YoY to $7.8 billion, the company issued a cautious revenue guidance for Q1 FY27, projecting a range of -2.0% to 0% in constant currency. Operating margins remained stable, ending the year at 17.2%.
- Q4 Net Income grew 12.3% QoQ to ₹35.0 billion, while IT services margin stood at 17.3%.
- Board approved a massive ₹150 billion buyback at ₹250 per share via tender offer.
- Full-year large deal bookings reached $7.8 billion, a significant 45.4% increase YoY.
- Revenue guidance for Q1 FY27 is soft, estimated between -2.0% and 0% in constant currency.
- FY26 operating cash flow was robust at 112.6% of net income, totaling ₹149.3 billion.
Wipro's board has approved a significant share buyback of up to 60 crore shares at ₹250 per share, totaling ₹15,000 crore via the tender offer route. For the full year FY26, the company reported a revenue of ₹713,451 million, showing steady growth from ₹685,750 million in FY25. Profit before tax for the year rose to ₹159,052 million, reflecting improved operational efficiency. Additionally, the board re-appointed Tulsi Naidu as an Independent Director for a second five-year term starting July 2026.
- Approved buyback of up to 60 crore shares at ₹250 per share, totaling ₹15,000 crore via tender offer route.
- FY26 Revenue from operations grew to ₹713,451 million compared to ₹685,750 million in FY25.
- Annual Profit before tax increased to ₹159,052 million from ₹146,125 million in the previous fiscal year.
- The proposed buyback represents approximately 5.7% of the total paid-up equity share capital.
- Re-appointment of Ms. Tulsi Naidu as an Independent Director for a second 5-year term approved.
Wipro Limited reported a steady performance for the quarter ended March 31, 2026, with standalone revenue reaching ₹18,362.8 crore, a 5.3% increase year-on-year. Net profit for the quarter stood at ₹3,037.1 crore, showing a healthy sequential growth of 9.1% compared to the December 2025 quarter. For the full fiscal year 2026, the company achieved a net profit of ₹12,129.6 crore, up 11.1% from ₹10,913.1 crore in FY25. The results indicate improved operational efficiency as total expenses decreased sequentially despite revenue growth.
- Standalone Revenue from operations grew 5.3% YoY to ₹183,628 million in Q4 FY26.
- Net Profit for Q4 FY26 increased by 9.1% QoQ to ₹30,371 million.
- Full-year FY26 Net Profit rose to ₹121,296 million, an 11.1% increase over FY25.
- Basic EPS for the full year improved to ₹11.59 compared to ₹10.44 in the previous year.
- Total expenses for Q4 FY26 were reduced to ₹150,707 million from ₹152,506 million in the preceding quarter.
Wipro reported a standalone revenue of ₹183,628 million for Q4 FY26, a 5.3% increase over the previous year's quarter. Net profit for the quarter grew to ₹30,371 million, while the full-year FY26 profit saw a robust 11.1% growth to reach ₹121,296 million. The company's annual EPS improved significantly to ₹11.59 from ₹10.44 in FY25. Total expenses for the year were ₹601,890 million, reflecting controlled operational costs relative to revenue growth.
- Standalone Revenue from operations for FY26 stood at ₹713,451 million vs ₹685,750 million in FY25.
- Net Profit for the full year FY26 increased by 11.1% YoY to ₹121,296 million.
- Q4 FY26 Standalone Net Profit reached ₹30,371 million, up from ₹29,229 million in Q4 FY25.
- Annual Basic EPS rose to ₹11.59, compared to ₹10.44 in the previous fiscal year.
- Total Comprehensive Income for the year was ₹112,631 million despite hedging-related adjustments.
Wipro Limited has entered into a definitive agreement to acquire select customer contracts and the associated workforce from Alpha Net Consulting LLC for a total consideration of up to $70.8 million. The acquisition aims to strengthen Wipro's AI-powered and consulting-led application services, particularly in data engineering and enterprise software. The acquired business segment reported a revenue of $37.3 million in CY25, reflecting a steady growth trend from $27.9 million in CY23. This all-cash transaction includes performance-linked deferred earnouts and is expected to be completed by June 30, 2026.
- Total acquisition cost of up to $70.8 million, including deferred performance-based earnouts.
- Target revenue from acquired contracts grew from $27.9 million in CY23 to $37.3 million in CY25.
- The deal focuses on high-growth areas including AI-first managed services and data engineering.
- Strategic expansion of clientele and workforce across USA, UK, Singapore, and the Netherlands.
- Transaction is expected to close by June 30, 2026, subject to customary closing adjustments.
Wipro Limited has revised the schedule for its Q4 FY2026 earnings conference call, moving it from 7:00 PM IST to 7:45 PM IST on April 16, 2026. The company will announce its financial results for the quarter ended March 31, 2026, after Indian market hours on the same day. Senior management will discuss the performance and answer questions submitted by 7:15 PM IST. All other details regarding the results announcement date remain unchanged.
- Earnings call rescheduled to 7:45 PM IST (10:15 AM US ET) on April 16, 2026
- Q4 FY2026 results to be released after market hours on April 16, 2026
- Questions for management must be submitted via email by 7:15 PM IST
- Replay of the call will be available starting two hours after the call ends until April 23, 2026
Wipro Limited has scheduled the announcement of its financial results for the fourth quarter and full year ended March 31, 2026, for April 16, 2026. The results will be released after Indian market trading hours, followed by an earnings conference call at 7:00 PM IST. Senior management will discuss performance and address questions from institutional investors and analysts. This routine announcement sets the stage for the market to evaluate Wipro's growth trajectory and AI-led transformation initiatives.
- Q4 FY26 results to be declared on April 16, 2026, after market hours.
- Earnings conference call scheduled for 7:00 PM IST (9:30 AM US Eastern time).
- Management to discuss performance for the quarter ended March 31, 2026.
- Webcast and dial-in details provided for global investors across US, UK, Singapore, and HK.
Wipro Limited has completed the internal merger of four US-based step-down subsidiaries to rationalize its global group structure. Capco RISC Consulting LLC, with a turnover of USD 15.29 million, has merged into The Capital Markets Company, LLC, which reported a turnover of USD 284.88 million. Simultaneously, Cardinal US Holdings, Inc. merged into Wipro IT Services, LLC, which has a turnover of USD 107.47 million. These consolidations are effective as of late March 2026 and do not affect the shareholding pattern of the listed parent entity.
- Capco RISC Consulting LLC (USD 15.29M turnover) merged with The Capital Markets Company, LLC (USD 284.88M turnover)
- Cardinal US Holdings, Inc. (NIL turnover) merged with Wipro IT Services, LLC (USD 107.47M turnover)
- Mergers were effective March 30 and March 31, 2026, respectively
- Restructuring aimed at rationalizing and consolidating the overall group structure
- No impact on the shareholding pattern of Wipro Limited
Financial Performance
Revenue Growth by Segment
IT Services revenue, which constitutes over 90% of total income, reported a 2.3% decline in constant currency (CC) terms for FY2025, reaching $10.5 billion. In Q2 FY2026, IT services revenue grew 0.3% sequentially in CC terms but declined 2.6% year-on-year. IT Products and other services make up the remaining small portion of the business.
Geographic Revenue Split
North America and Europe collectively drive ~90% of total revenues. In Q2 FY2026, Americas 1 (Healthcare, Tech, Comm) grew 5% YoY; Americas 2 declined 5.2% YoY; Europe declined 10.2% YoY despite a 1.4% sequential recovery; and APMEA (India, Australia, SE Asia) grew 2.6% YoY.
Profitability Margins
Operating Profit Margin (OPM) improved to 20.2% in FY2025 from 18.7% in FY2024 due to cost optimization and higher utilization. Net Profit Margin (PAT/OI) stood at 14.8% in FY2025, up from 12.4% in FY2024. Q2 FY2026 margins were 16.7%, impacted by a one-off client bankruptcy charge; adjusted margins were 17.2%.
EBITDA Margin
OPBDIT/OI (EBITDA margin equivalent) was 20.2% in FY2025, representing a 150 basis point improvement over FY2024. This was driven by increasing employee utilization to 87% and stabilizing attrition at 14-15%, which reduced recruitment and training overheads.
Capital Expenditure
While specific total INR Cr for future Capex is not disclosed, the company maintains a robust liquidity profile with free cash and bank balances of INR 44,993 Cr as of June 30, 2024, intended to fund internal requirements and acquisitions.
Credit Rating & Borrowing
ICRA reaffirmed ratings with a stable outlook. Borrowing costs are supported by a healthy interest coverage ratio of 12.2 times in FY2025 and a low gearing of 0.2 times. Total Debt/OPBDIT stood at 1.1 times in FY2025.
Operational Drivers
Raw Materials
Human Capital/Talent (100% of core service delivery cost), specifically skilled professionals in AI, Cloud, 5G, and Silicon Engineering.
Import Sources
Global talent pool with a primary base in India (wage cost advantage) and local hires in the US, Europe, and APMEA regions.
Key Suppliers
Not applicable as a service-based IT firm; however, key technology partners include cloud providers and the Topcoder community for crowdsourced development.
Capacity Expansion
Current workforce exceeds 230,000 employees across 65 countries. Capacity is managed via utilization levels, which improved from 83% in Q1 FY2024 to 87% in Q1 FY2025.
Raw Material Costs
Employee benefit expenses are the primary cost. Wage cost inflation and retention challenges are mitigated by a 14.1% attrition rate (LTM Q1 FY2025), down significantly from 23.3% in Q1 FY2023.
Manufacturing Efficiency
Utilization rate of 87% in Q1 FY2025 is the primary efficiency metric, indicating high billable hours per employee and optimized bench strength.
Logistics & Distribution
Not applicable; services are delivered digitally or via onsite client presence.
Strategic Growth
Expected Growth Rate
2.30%
Growth Strategy
Growth is targeted through the 'Wipro Intelligence' suite and Gen AI-powered strategies. The company is deepening C-suite engagement beyond the CIO and leveraging a 1:1 bonus issue and a 70% net income payout policy to maintain investor confidence during 'modest' growth phases.
Products & Services
Digital strategy advisory, technology consulting, cloud infrastructure services, business process services, 5G engineering, and silicon chip engineering.
Brand Portfolio
Wipro, Capco, Topcoder, Wipro Intelligence, Wipro Ventures.
New Products/Services
Generative AI integration across all service lines and the Wipro Innovation Network; AI is expected to be a central driver for future productivity and growth.
Market Expansion
Expansion in the UK through the Phoenix Group transformation deal and growth in APMEA (India, Australia, SE Asia) which grew 3.1% sequentially in Q2 FY2026.
Market Share & Ranking
Wipro is the fourth-largest Indian player in the global IT services outsourcing industry.
Strategic Alliances
Strategic ecosystem includes academia, global tech communities, and the Wipro Innovation Network labs.
External Factors
Industry Trends
The industry is shifting toward AI-powered services and consulting-led transformations. Wipro is positioning itself by integrating Gen AI into its core strategy to counter the 'subdued' demand for traditional IT maintenance.
Competitive Landscape
Faces intense competition from other large Indian and global IT firms, which pressures pricing and talent retention.
Competitive Moat
Moat is built on a 99% repeat business rate and an 80-year brand history. High switching costs for clients integrated into Wipro's proprietary 'Wipro Intelligence' suite sustain this advantage.
Macro Economic Sensitivity
Highly sensitive to US and European GDP; 90% of revenue is export-based, making it vulnerable to global discretionary spend cycles.
Consumer Behavior
Clients are shifting from large discretionary projects to smaller, high-impact AI and cost-optimization deals.
Geopolitical Risks
Exposed to US trade policy changes, specifically proposed tariff increases which have already contributed to a 2.3% revenue decline in FY2025.
Regulatory & Governance
Industry Regulations
Subject to FCA regulations in the UK (via WFOSL) and immigration/visa restrictions in the US, which can increase the cost of onsite delivery.
Environmental Compliance
Direct exposure is low; however, the company complies with TCFD and IFRS S1/S2 standards for climate-related reporting.
Taxation Policy Impact
Effective tax rate is reflected in the difference between 20.2% OPM and 14.8% PAT margin for FY2025.
Legal Contingencies
Recorded a one-off charge in Q2 FY2026 due to a client bankruptcy event, which reduced operating margins by 60 basis points.
Risk Analysis
Key Uncertainties
Macroeconomic uncertainty in North America and Europe (90% revenue base) and potential US tariff hikes are the primary risks to revenue visibility.
Geographic Concentration Risk
High concentration with ~90% of revenue from North America and Europe.
Third Party Dependencies
Low supplier dependency; high dependency on the 'Premji Family and Trust' which holds a 72.73% equity stake.
Technology Obsolescence Risk
Risk of falling behind in the Gen AI race; mitigated by the Wipro Innovation Network and $1B+ commitment to AI-led transformation.
Credit & Counterparty Risk
Generally high quality due to a diversified base of 1,282 customers, though the Q2 FY2026 bankruptcy event highlights specific counterparty risks.