INTEGRATED ANNUAL REPORT 2023-24
IT Services Revenue
-4.4% YoY ▼
IT Services Operating Margin
50 bps YoY expansion ▲
Operating Cash flow by Net Income
+44% YoY ▲
Large Deal TCV
+17.4% YoY ▲
Closed 56 large deals.
Total Bookings TCV
-5.5% YoY ▼
Per Share Price
+31.4% YoY ▲
Per Share EPS
+0.8% YoY ▲
Total Employees
Women Employees
Nationalities in Workforce
Rating by ICRA
R&D Expenses (` million)
CSR Spend (` million)
Active Customers
Patents Granted till Date
Trademarks Registered
Persons with Disabilities (based on voluntary self-declaration)
Total Employees Engaged with Wipro Cares (Volunteering or monetary contribution or both)
+2.7% ▲
Engaged in Community Education Initiatives
Total GHG Emission (tons of CO2 eq.)
Energy Performance Index (KwH units per sq. metre per annum)
Reduction in Scope 1&2 Emissions (from FY17 baseline)
Helping Clients Build Future-Ready Businesses.
We are a leading technology services and consulting company focused on building innovative solutions that address our clients’ most complex digital transformation needs. From generative AI and immersive experiences to data, from silicon chip design to blockchain, our consultants, analysts, designers, and engineers work on solutions that unlock our clients' boldest ambitions.
Building on Wipro’s decade-long investments, in 2023, Wipro launched the ai360 innovation ecosystem, with responsible AI at the core. Wipro’s ai360 initiative focuses on expanding AI, data and analytics solutions, developing new R&D and platforms through Lab45, upskilling and reskilling our talent for an AI-first era, as well as enhancing Wipro FullStride Cloud and Consulting capabilities.
Ambitions Realized.
We are a leading information technology services and consulting company, focused on building innovative solutions to unlock our clients’ boldest ambitions. Anchored in our vision to become an AI-centric organization, we leverage our comprehensive portfolio of capabilities in consulting, design, engineering, and operations to offer tailored solutions that address our clients’ most complex digital transformation needs. With a global workforce of over 230,000 committed individuals across 65 countries, we fulfil our promise of helping our customers, colleagues, and communities thrive in an ever-changing world.
Wipro FullStride Cloud
Wipro FullStride Cloud brings Wipro’s entire suite of strategic cloud expertise and capabilities under a fully integrated full stack offering accelerating business transformation, boosting productivity, simplifying processes and increasing efficiency by harnessing the power of AI.
Wipro Enterprise Futuring
Wipro Enterprise Futuring offers clients forward-looking, AI-powered solutions for large-scale enterprise transformation by bringing together intelligence insights, enterprise data, applications platforms, digital operations, and cybersecurity and design and experience services.
Wipro Engineering Edge
Our comprehensive engineering and R&D portfolio spans an ecosystem, including an international strategic product-design house, a leader in semiconductor and systems design, and a world class lab facility and network.
Wipro Consulting
Wipro Consulting helps business leaders respond to their customers’ needs by driving digital-first transformation from operations to technologies to people, evaluating customers’ problems and crafting innovative solutions that involve the use of technologies like Cloud, AI, 5G and robotic automation.
The past year presented significant challenges across our industry, impacting our performance as well. We were tested by a tough and volatile macroeconomic environment. But as they say, adversity reveals true strength and I am proud of the resilience we displayed. I am confident we will emerge even stronger.”
Srini PalliaChief Executive Officer & Managing Director
Click here for detail letter
Despite some short-term challenges, the fundamentals of our business remain unchanged. Clients continued to prioritize digital transformation, leveraging AI to reduce costs, enhance operational efficiency, and drive future growth.”
Rishad A. PremjiChairman
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Creating value for stakeholders is the central reason for an organization’s existence. At Wipro, our stakeholders are essential partners in our journey; whether it is employees, investors, customers or suppliers, their voices shape our decisions. Our stakeholder engagement is based on the bedrock of trust and stewardship helping us navigate the social, environmental and economic landscape in ways that are mutually fruitful.
We have always strived to enhance shareholder value for our investors. The Company’s policy has been to provide regular, stable and consistent distribution of return. The Company’s policy of capital allocation includes a minimum payout of 45%-50% of net income for a period of the trailing three years. There has been no change in our philosophy on shareholder return during the year ended March 31, 2024.
Wipro Limited and Subsidiaries
|
|
Year ended March 31, |
YoY change |
|
|
|
2023 |
2024 |
2024-23 |
|
|
(` in million) |
||
|
Revenue (1) |
909,348 |
897,943 |
(1.25)% |
|
Cost of revenue |
(645,446) |
(631,497) |
(2.16)% |
|
Gross profit |
263,902 |
266,446 |
0.96% |
|
Selling and marketing expenses |
(65,157) |
(69,972) |
7.39% |
|
General and administrative expenses |
(59,139) |
(60,375) |
2.09% |
|
Operating income |
139,606 |
136,099 |
(2.51)% |
|
Profit attributable to equity holders |
113,500 |
110,452 |
(2.69)% |
|
As a percentage of revenue: |
|
|
|
|
Selling and marketing expenses |
7.17% |
7.79% |
62 bps |
|
General and administrative expenses |
6.50% |
6.72% |
22 bps |
|
Gross margin |
29.02% |
29.67% |
65 bps |
|
Operating margin |
15.35% |
15.16% |
(19) bps |
(1) For segment reporting, we have included the impact of exchange rate fluctuations in revenue. Excluding the impact of exchange rate fluctuations, revenue, as reported in our statement of income, is `904,876 million and `897,603 million for the years ended March 31, 2023 and 2024, respectively.
Our customers today face greater regulatory-driven requirements in operating and reporting. Leveraging our sustained leadership and commitment to being a Responsible Business over the years, Wipro Impact – our integrated sustainability services practice – is focused on helping our customers transform digitally and sustainably to become market leaders and global change makers. This is enabled through our:
Integrated Set of Sustainability Services
Our integrated set of sustainability services helps our customers accelerate reductions in natural capital and improve social capital across their extended value chains through digital and cloud-based solutions. Some examples of where we are accelerating impact through digital services are given below.
IT Security and Data Privacy
AI
Businesses often find their supply chain operations
influence their impact or externalities. The management of
the environmental and social impact of the supply chain is
tied to long-term economic results. Effective management
is crucial as it can aid businesses in navigating
disruptions, adapting to evolving customer and business partner needs, promoting
innovation, and safeguarding
the Company's reputation and brand value. Furthermore, it helps businesses
achieve
their objectives of efficiency,
cost-effectiveness, and resilience in the supply chain.
At Wipro, we recognize that our sustainable journey is
intertwined with that of our suppliers and they plan an
active role in us achieving our Net Zero goals.
Wipro Foundation is the Corporate Social Responsibility (CSR) entity of Wipro Limited. Going back over two decades, we focus on social initiatives in the domains of Education, Primary Healthcare, Ecology, Disaster Response, and Cities & Public Spaces.
To create positive impact for 2 million children
Children reached
APPROACH
STAKEHOLDERS ADDRESSED
Wipro’s Environmental Sustainability Strategy is Built on Five Key Pillars:
THREE-YEAR TRENDS OF KEY NATURAL METRICS
Total energy consumption (%)
Value (KwH/m2/annum)
Tons of CO2e
Tons CO2e/Mn USD
Total water consumed (%)
Lit/pax/day
Waste recycled (%)
Of our Hires were Women
Multi-Generational Workforce
Generation Z
Millennials
Over
Skilling Hours Completed
EES (Employee Engagement Score)
Inclusion Score in EES
Over
Drop in At trition Since FY23
Increase in the Number of Women Leaders in Last 3 Years
DIVERSITY IN TENURE
Colleagues with more than a Decade of Experience at Wipro
Over
Of our Workforce Joined us in the Last 3 Years
