WIPRO - Wipro
📢 Recent Corporate Announcements
Wipro Limited has allotted a total of 76,639 equity shares to employees on March 13, 2026. This allotment is a result of the exercise of stock options under three different schemes: the ADS Restricted Stock Unit Plan 2004, the Restricted Stock Unit Plan 2007, and the 2024 ESOP/RSU Scheme. Specifically, 67,291 shares were issued under the 2007 plan, while the remaining shares were distributed across the other two plans. Such allotments are routine for large IT firms to fulfill employee compensation and incentive obligations.
- Total allotment of 76,639 equity shares on March 13, 2026
- 67,291 shares issued under the Restricted Stock Unit Plan 2007
- 2,760 shares allotted under the ADS Restricted Stock Unit Plan 2004
- 6,588 shares issued under the Employee Stock Options and PSU Scheme 2024
- The allotment follows the exercise of ESOPs by eligible employees
Wipro Limited has announced the grant of 34,783 American Depositary Share (ADS) Restricted Stock Units (RSUs) to an identified employee of its subsidiary. The grant is effective from March 13, 2026, and is issued under the company's 2024 Employee Stock Options, Performance Stock Unit, and RSU Scheme. The vesting schedule and exercise period will be determined by the Nomination and Remuneration Committee. This is a standard administrative procedure aimed at talent retention and incentive alignment.
- Grant of 34,783 ADS Restricted Stock Units (RSUs) to a subsidiary employee.
- Effective date of the grant is March 13, 2026.
- Issued under the Employee Stock Options, Performance Stock Unit, and RSU Scheme 2024.
- Vesting and exercise terms are subject to Nomination and Remuneration Committee approval.
Wipro Limited has entered into a multi-year contract with TruStage, a US-based insurance and financial services provider, to modernize its retirement services business. The engagement will utilize Wipro Intelligence™, an AI-powered suite of platforms, to transform TruStage's technology stack and core operations. Wipro's Consulting team and Designit will collaborate to create a long-term innovation roadmap and a global operating model. This deal highlights Wipro's continued momentum in the BFSI sector through AI-led digital transformation services.
- Signed a multi-year contract for business and technology modernization with TruStage.
- Leverages Wipro Intelligence™ AI-powered platforms and deep domain expertise in wealth management.
- Includes an integrated transformation program spanning IT services and technology infrastructure management.
- Collaboration between Wipro Consulting and Designit to reimagine customer delivery operating models.
- Focuses on enhancing digital experiences for middle-market consumers in the retirement sector.
Wipro Limited has allotted a total of 50,070 equity shares on March 5, 2026, following the exercise of stock options by employees. The allotment consists of 11,222 shares under the ADS Restricted Stock Unit Plan 2004 and 38,848 shares under the Restricted Stock Unit Plan 2007. This is a routine administrative procedure used by IT companies to fulfill employee compensation and retention obligations. Given Wipro's massive outstanding share capital, the resulting equity dilution from this issuance is negligible.
- Total allotment of 50,070 equity shares on March 5, 2026
- 11,222 shares issued under the ADS Restricted Stock Unit Plan 2004
- 38,848 shares issued under the Restricted Stock Unit Plan 2007
- Allotment triggered by the exercise of vested ESOPs/RSUs by eligible employees
Wipro Limited has announced the appointment of Ms. Laura Marie Miller as an Independent Director for a five-year term starting April 1, 2026. Ms. Miller brings over 20 years of executive experience, having served as the Chief Information and Data Officer at Macy’s and held leadership roles at InterContinental Hotels Group. Her expertise spans AI strategy, cloud migration, and digital transformation, which are critical areas for Wipro's service offerings. The appointment is subject to shareholder approval and is intended to strengthen the board's global technology and governance oversight.
- Appointment of Ms. Laura Marie Miller as Independent Director for a 5-year term effective April 1, 2026.
- Brings over 20 years of leadership experience in digital transformation and AI-driven change.
- Former EVP and Chief Information and Data Officer at Macy’s and leader at First Data.
- Currently serves on the boards of NCR Voyix and Ahold Delhaize, chairing Risk and Technology committees.
- Appointment aims to align Wipro's digital and data capabilities with long-term business strategy.
Wipro Limited has announced the grant of 6,98,199 ADS Restricted Stock Units (RSUs) to identified employees of the company and its subsidiaries. This grant is effective from March 2, 2026, under the company's 2024 employee stock scheme. The vesting schedule and exercise period will be determined by the Nomination and Remuneration Committee. Such grants are standard practice for talent retention in the IT services sector.
- Grant of 6,98,199 ADS Restricted Stock Units to identified employees
- Effective date of the grant is March 2, 2026
- Issued under the Employee Stock Options, Performance Stock Unit and Restricted Stock Unit Scheme 2024
- Vesting and exercise terms to be governed by the Nomination and Remuneration Committee
Wipro Limited has announced the allotment of 1,29,574 equity shares on February 25, 2026, following the exercise of employee stock options. The allotment consists of 19,762 shares under the ADS Restricted Stock Unit Plan 2004 and 1,09,812 shares under the Restricted Stock Unit Plan 2007. This is a standard corporate action used by IT firms to fulfill employee compensation and retention obligations. The resulting equity dilution is negligible given Wipro's large total share capital.
- Total allotment of 1,29,574 equity shares on February 25, 2026
- 19,762 shares issued under the ADS Restricted Stock Unit Plan 2004
- 1,09,812 shares issued under the Restricted Stock Unit Plan 2007
- Allotment made pursuant to the exercise of Restricted Stock Units (RSUs) by employees
Wipro Limited has announced the allotment of 1,36,919 equity shares to eligible employees on February 17, 2026. The allotment consists of 34,300 shares under the ADS Restricted Stock Unit Plan 2004 and 1,02,619 shares under the Restricted Stock Unit Plan 2007. This issuance follows the exercise of Employee Stock Option Plans (ESOPs) by the participants. Such allotments are standard procedure for large IT firms to manage employee compensation and retention.
- Total allotment of 1,36,919 equity shares completed on February 17, 2026
- 34,300 shares issued under the ADS Restricted Stock Unit Plan 2004
- 1,02,619 shares issued under the Restricted Stock Unit Plan 2007
- The issuance is a result of employees exercising their vested stock options
Wipro Limited has successfully completed its equity subscription in AMPIN Energy C&I One Private Limited as of February 9, 2026. The transaction was finalized significantly ahead of the previously projected completion date of March 31, 2026. This investment follows the definitive agreement originally signed on November 8, 2024, and updated on June 23, 2025. The move is likely part of Wipro's strategic commitment to renewable energy procurement and ESG initiatives.
- Transaction completed on February 9, 2026, ahead of the March 31, 2026 deadline.
- Investment involves subscribing to the equity share capital of AMPIN Energy C&I One Private Limited.
- The process follows definitive agreements established in November 2024 and June 2025.
Wipro Limited has announced the allotment of 3,78,185 equity shares on February 6, 2026, following the exercise of Employee Stock Option Plans (ESOPs). The allotment consists of 1,88,122 shares under the ADS Restricted Stock Unit Plan 2004 and 1,90,063 shares under the Restricted Stock Unit Plan 2007. This is a standard corporate procedure used by IT companies to incentivize and retain employees. The impact on the total share capital and earnings per share (EPS) is expected to be negligible due to the small scale of the allotment relative to the company's total equity.
- Total allotment of 3,78,185 equity shares to employees.
- 1,88,122 shares issued under the ADS Restricted Stock Unit Plan 2004.
- 1,90,063 shares issued under the Restricted Stock Unit Plan 2007.
- Allotment completed on February 6, 2026, pursuant to ESOP exercises.
Wipro has officially joined the Massachusetts Institute of Technology (MIT) Industrial Liaison Program (ILP) to bolster its research and development in frontier technologies. This strategic partnership allows Wipro to collaborate with MIT faculty, researchers, and its startup ecosystem to develop advanced solutions for global clients. The focus will be on five key areas: agentic AI, robotics, quantum computing, digital ledger technologies, and cyber resilience. This move is intended to enhance the Wipro Intelligence™ suite and maintain a competitive edge in the AI-driven technology services market.
- Partnership with MIT ILP to access expansive research resources and a global startup ecosystem.
- Focus on 5 strategic themes including agentic AI, robotics with embodied AI, and quantum computing.
- Integration of new innovations into the Wipro Intelligence™ unified suite of AI-powered platforms.
- Leverages Wipro's global workforce of over 230,000 employees to deliver frontier tech solutions.
Wipro Limited has announced a rescheduling of its upcoming meeting with analysts and institutional investors. The meeting, which was originally slated for February 12, 2026, will now be held on February 10, 2026. The company will be participating in Axis Capital's Flagship India Conference in Mumbai. This is a group meeting format and follows the company's previous intimation dated January 27, 2026.
- Meeting rescheduled from February 12, 2026, to February 10, 2026
- Participation in Axis Capital's Flagship India Conference in Mumbai
- The interaction is classified as a Group Meeting with institutional investors
- Compliance filing under Regulation 30 of SEBI (LODR) Regulations, 2015
Wipro Limited has allotted a total of 1,54,549 equity shares to employees upon the exercise of stock options. The allotment includes 56,908 shares under the ADS Restricted Stock Unit Plan 2004 and 97,641 shares under the Restricted Stock Unit Plan 2007. This is a standard corporate procedure to fulfill employee compensation obligations through Restricted Stock Units (RSUs). The resulting equity dilution is negligible given the company's large overall market capitalization.
- Total allotment of 1,54,549 equity shares executed on January 31, 2026
- 56,908 shares issued specifically under the ADS Restricted Stock Unit Plan 2004
- 97,641 shares issued under the Restricted Stock Unit Plan 2007
- Allotment follows the exercise of vested ESOPs/RSUs by eligible employees
Wipro Limited hosted the 15th edition of its annual earthian Awards, a CSR initiative focused on sustainability education in schools and colleges. The 2025 program received over 2,000 submissions, resulting in 25 winning teams and recognition for over 100 schools. Since its 2011 inception, the program has reached 51,000 schools and 210,000 students. While the event highlights Wipro's commitment to ESG principles, it does not have a direct impact on the company's financial performance or stock price.
- 15th edition of Wipro earthian Awards 2025 saw over 2,000 submissions and 25 winning teams.
- Historical engagement since 2011 includes 51,000+ schools, 210,000+ students, and 41,000+ teachers.
- Collaborative 'Ideas to Impact' challenge with IIT Madras received 2,700 entries from 1,300 colleges.
- Sustainability Educators Network (SEN) involved 24 educators from 14 regional NGOs for localized impact.
Wipro has introduced a new consulting-led, AI-powered operating model designed to integrate advisory, AI, and enterprise transformation services. The model targets four core functional areas: Finance, Supply Chain, HR, and Customer Experience, aiming to bridge the gap between boardroom strategy and operational execution. By leveraging the Wipro Intelligence™ suite, the company intends to move away from fragmented AI pilots toward systematic, outcome-based implementations. This strategic shift is designed to help Wipro's 230,000+ employees deliver measurable ROI and faster bottom-line impact for global clients.
- Integrates Wipro Consulting with Business Process Services (BPS) for a unified strategy-to-execution journey.
- Targets four key functional areas: People & Change, Supply Chain, Finance, and Customer Experience.
- Utilizes the Wipro Intelligence™ suite to provide AI-enabled automation and predictive insights across 65 countries.
- Focuses on persona-based and function-specific processes to drive measurable business outcomes and margin improvements.
- Aims to solve the industry-wide challenge of slow consulting-to-execution journeys and fragmented AI adoption.
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.