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Wipro Ltd

BSE Code : 507685 | NSE Symbol : WIPRO | ISIN:INE075A01022| SECTOR: - |

NSE BSE
 

242.85

-0.85 (-0.35%) Volume 280564

06-Dec-2019 12:24:58

Prev. Close

243.70

Open Price

243.70

Bid Price (QTY)

242.80(568)

Offer Price (QTY)

242.85(3)

 

Today’s High/Low 244.50 - 244.50

52 wk High/Low 301.60 - 232.20

Key Stats

MARKET CAP (RS CR) 139224.23
P/E 16.68
BOOK VALUE (RS) 75.7188503
DIV (%) 50
MARKET LOT 1
EPS (TTM) 14.61
PRICE/BOOK 3.21848521252574
DIV YIELD.(%) 0.33
FACE VALUE (RS) 2
DELIVERABLES (%) 37.86
4

News & Announcements

05-Dec-2019

Wipro launches NextGen Cyber Defence Centre in Melbourne, Australia

03-Dec-2019

Wipro allots 53,734 equity shares under ESOP

03-Dec-2019

Wipro launches advanced cloud SOC service powered by Microsoft Azure Sentinel

26-Nov-2019

Wipro Ltd down for fifth straight session

05-Dec-2019

Wipro launches NextGen Cyber Defence Centre in Melbourne, Australia

03-Dec-2019

Wipro launches advanced cloud SOC service powered by Microsoft Azure Sentinel

19-Nov-2019

Appirio partners with MuleSoft to provide digital integration solutions

15-Nov-2019

Wipro allots 28,134 equity shares under ESOP

Corporate Actions

Bonus
Splits
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Capital Structure
Book Closure
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AGM
EGM
 

Financials

Income Statement

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Peers Comparsion

Select Company Name BSE Code NSE Symbol
HCL Technologies Ltd 532281 HCLTECH
Hewlett-Packard Globalsoft Pvt Ltd 500121 DIGITALEQP
IGate Computer Systems Ltd 532517 PATNI
Infosys Ltd 500209 INFY
Mphasis Ltd 526299 MPHASIS
Oracle Financial Services Software Ltd 532466 OFSS
Polaris Consulting & Services Ltd 532254 POLARIS
Satyam Computer Services Ltd(Merged) 500376 SATYAMCOMP
Tata Consultancy Services Ltd 532540 TCS
Tech Mahindra Ltd 532755 TECHM

Share Holding

Category No. of shares Percentage
Total Foreign 647831056 11.34
Total Institutions 398182883 6.97
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 49859210 0.87
Total Promoters 4229945033 74.04
Total Public & others 387088686 6.78
Total 5712906868 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Wipro Ltd

Wipro Ltd is a leading India based provider of IT Services, including Business Process Outsourcing (BPO) services, globally. The company provides comprehensive IT Solutions and Services, including Systems Integration, Information Systems Outsourcing, IT Enabled Services, Package Implementation, Software Application development and maintenance, and Research and Development Services to corporations globally. The company is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, they are a leader in providing IT Solutions and Services for the corporate segment in India, offering System Integration, Network Integration, Software Solutions and IT Services. In the Asia Pacific and Middle East markets, they provide IT Solutions and Services for global corporations. The company is headquartered in Bangalore, India. The company provides the integrated business, technology and process solution on a global delivery platform to customers across Americas, Europe, Middle East and Asia Pacific. They offer business value to clients through process excellence and service delivery innovation such as Information Technology services, Product Engineering services, Technology Infrastructure services, Business Process Outsourcing services and consulting services. During the financial year 2013, Wipro carried out demerger of consumer care and lighting, infrastructure engineering businesses and other non IT business of the company. After the demerger, Wipro became a company focused on the IT services business. Wipro Ltd was incorporated in the year 1945 at Karnataka by Azim H Premji who is promoter and chairman of the company. The company started as an edible oil producer and then transformed itself into leading player in Fast Moving Consumer Goods and IT services & Products business. During the year 1994-95, the company secured ISO 9001 certification for their five manufacturing and development facilities. In February 2001, the company became the first software technology and services company in India to be certified for ISO:14001 certification for complying with the international standards for Environmental Management System (EMS) in three major software development and technology centers in Bangalore. Wipro Technologies won the 'Banker Technology Award' for the year 2004 Instituted by the Financial Times in the 'Risk Management Award' category. During the year 2005-06, the company acquired mPower Software Services Inc, a Princeton, New Jersey, US headquartered company with a development center in Chennai and MPACT Technology Services Pvt Ltd, based in Chennai, for an all cash consideration of USD 28 million. Also, they acquired New Logic Technologies AG, an Austrian firm which is mainly engaged in the semiconductor IP business and the Engineering Design Services business including the Analog Mixed Signal Business for an all cash consideration of Euro 26 million. The company received the BEST award from American society for training & development (ASTD) for three consecutive years 2004, 2005 and 2006. During the year 2006-07, the company acquired US based Quantech Global Services LLC and the India based Quantech Global Services Ltd for a cash consideration of approximately USD 3 million. They acquired US based CMango Inc and India based CMango India Pvt Ltd for cash consideration of USD 20 Million. They also acquired Finland based Saraware Oy Middle East and SAARC operations of 3D Networks and Planet PSG during the year. In their Consumer Care and Lighting business, the company acquired North-West Switches business from North- West Switchgear Ltd, a company in the business of switches, sockets, MCBs etc. for an upfront cash consideration of Rs 1,022 million. In the Infrastructure Engineering business, they acquired Hydrauto Group AB for a cash consideration of USD 31 million. The company in partnership with Motorola and formed a joint venture namely WMNETSERV Ltd for delivering world-class managed Services to telecom operators in the area of network operations. During the year 2007-08, as per scheme of amalgamation, Wipro Infrastructure Engineering Ltd, Wipro Healthcare IT Ltd, Quantech Global Services Ltd mPact Technology Services Pvt Ltd, mPower Software Services (India) Pvt Ltd and cMango India Pvt Ltd were amalgamated with the company with effect from April 1, 2007. The company in association with DAR Al-Riyadh Holding Co Ltd formed a joint venture namely Wipro Arabia Ltd, for providing application development, implementation and maintenance services, systems integration and data storage services in the Kingdom of Saudi Arabia. During the year, the company acquired 100% shareholding in Unza Holdings Ltd, a Singapore based Fast Moving Consumer Goods company together with their subsidiaries for an all cash consideration of approximately USD 246 million. They acquired US-based provider of IT infrastructure management, enterprise application and business process outsourcing services, for an acquisition price of about USD 600 million. They also acquired OKI Techno Centre Singapore Pte Ltd (now called as Wipro Techno Centre Singapore Pte Ltd) in an all cash deal of USD 2.5 million. During the year 2008-09, the company invested an aggregate of USD 432 million as equity, in their direct subsidiaries Wipro Cyprus Pvt Ltd, Wipro Holdings (Mauritius) Ltd, Wipro Inc and Wipro Technology Services Ltd. They also re-structured a few of their overseas subsidiaries and merged them with their holding company in the US. In January 2009, the company acquired Wipro Technology Services Ltd (formerly called as Citi Technology Services Ltd) for USD 127 million. During the year 2009-10, Wipro Networks Pte Ltd, Singapore and WMNETSERV Ltd, Cyprus were amalgamated with the company with effect from April 1, 2009. In August 2009, the company entered into partnership with Lavasa Corporation Ltd for planning, implementing and managing Information and Communication Technology services across Lavasa City. In October 2009, the company signed an agreement with Delhi International Airport Pvt Ltd and formed a joint venture company namely Wipro Airport IT Services Ltd. Also, Wipro GE Healthcare Pvt Ltd, the joint venture between the company and GE Healthcare, transformed their business by integrating several existing stand-alone business units and manufacturing plants of GE Healthcare in India under Wipro GE Healthcare Entity. In November 2009, the company signed an agreement to acquire the 'Yardley' Brand business in Asia, Middle East, Australia and certain African markets from UK based Lornamead Group. In March 2010, they won a turnkey project from the Financial Intelligence Unit - India, Ministry of Finance, Government of India. As part of the project, the company will implement FiNnet (Financial Intelligence Network) for FIU-IND. In April 2010, the company signed a partnership agreement with Philips to offer Blu-ray middleware and solution development services around Philips' developed Blu-ray technology. In May 2010, the company and Oracle Corporation launched a co developed solution, a Process Integration Pack (PIP) for the High Technology industry. This solution is part of Wipro's offerings that provide a comprehensive solution footprint for the High Technology industry. They entered into a co-innovation agreement with SAP AG to develop and deliver sustainability management and energy management solutions to enterprise customers globally. In June 2010, the company's Business Process Outsourcing division partnered with Microsoft Corporation for providing global Legal Process Outsourcing (LPO) for Microsoft's Intellectual Property (IP) portfolio. The company launched Wipro Hospitality Management Solution at HITEC 2010, the conference for the Hospitality and Leisure industry. In July 2010, the company in association with Lavasa Corporation Ltd and Cisco Systems Inc signed definitive agreements for Cisco to participate in MyCity Technologies Ltd to provide information and communications technology services in the new development of Lavasa City. In August 2010, the company entered into a five year agreement with ArcelorMittal, the steel company, to consolidate and migrate their messaging systems to the Microsoft Exchange 2010 messaging platform. In September 2010, the company signed five year strategic partnership with Central Bank of India for providing core banking solution for seven sponsored regional rural banks. The company will deliver business-IT alignment by deploying and implementing the core banking solution and the identified delivery channels seamlessly. They will also set up a 24 hour centralized helpdesk facility for the project, covering applications, data center, networks, security and end user systems. During the year 2010-11, the company re-structured a few of their subsidiaries including overseas subsidiaries through merger/other legal process. Wipro Yardley consumer care Pvt Ltd, a subsidiary company got merged with Wipro Ltd with effect from April 1, 2010, being the appointed date. In December 2010, the company signed a contract with Vodafone Essar. As a part of this strategic engagement, the company will support Vodafone Essar with its fixed line telecom services for enterprise business customers. Wipro will provide a wide range of services including network design and build, integration with existing IT OSS/ BSS applications and managed services if the setup over three years. In addition, Wipro will also build an Enterprise Network Operation Center to manage the operations of Vodafone Essar's enterprise customers. In January 2011, the company and Callidus Software Inc entered into a partnership to drive sales performance management across organizations in the Asia-Pacific region. In May 2011, the company signed an agreement to acquire majority stake of Brazil based Hydraulic Cylinder manufacturer R.K.M. EQUIPAMENTOS HIDRAULICOS LTDA. In June 10, 2011, the company acquired the Commercial Business Services Business Unit of Science Applications International Corporation (SAIC). In 2012, Australia-based MMG Selects Wipro as Strategic Partner. Wipro Acquires L.D.Waxson with Skincare brands Bio-essence & Ginvera. Wipro Tech joined Car Connectivity Consortium (CCC) to develop smartphone-based connected-car solutions. Wipro Technologies and Oracle joined hands to offer next gen Oracle Fusion HCM solution. In a bid to capture the growth in fast emerging trade promotion industry, India's third largest software exporter Wipro ltd has signed an agreement to acquire Promax Applications Group (PAG) for a total consideration of AUD 35 million. Wipro also Wins NASSCOM Corporate Award for Excellence in Diversity and Inclusion 2012. In 2013, Wipro Wins NASSCOM Corporate Award for Excellence in Diversity and Inclusion 2012. Wipro Launched Wipro AssureHealth Platform on Microsoft Technologies. Wipro also Wins 3 Year Contract from Emirates NBD. Wipro launches 3rd edition of its sustainability program for schools and colleges- earthian 2013'. Wipro Launches Co-Innovation Center for SAP Solutions in Bangalore. Wipro Launches Mobility Center of Excellence with Kony in Hyderabad. Wipro Receives National Award for Empowerment of Persons with Disabilities. During the financial year 2013, Wipro carried out demerger of consumer care and lighting, infrastructure engineering businesses and other non IT business of the company. After the demerger, Wipro became a company focused on the IT services business. In 2014, Wipro Wins 2013 Global, Asian and Indian MAKE Awards. Wipro Wins Ten Year Integrated IT and BPO Contract from UK-based, Carillion Plc. Wipro Signs Partnership with AxiomSL. Wipro Wins Managed Services Contract from DEN Networks. Wipro Wins a Transformational IT Applications and Infrastructure Engagement with 7-Eleven in Australia. Wipro Wins a Strategic Ten Year Total Outsourcing Engagement with ATCO. Wipro Launches Global Customer Experience Center. Wipro Ranked Global Leader in Telecom R&D Services for the Third Consecutive Year. Wipro is Rated as a No.1 Global Engineering and R&D service provider by Zinnov. In 2015, Wipro wins $400m IT Infra Deal from Swiss Giant ABB. Wipro is also Awarded Multi Year Strategic Infrastructure Management Contract by Allied Irish Banks. Wipro also joins together with Acquia for digital technology. Wipro signs an agreement with Nexenta. Wipro Wins 5-Year Strategic Engagement with Coop Norge Handel AS. Wipro Wins 2015 Aegis Graham Bell Award for 'Innovation in IoT. Wipro Business Process Services Launches enterprise-Know Your Customer (e-KYC)' Automation Solution for Financial Institutions. On 2 December 2015, Wipro announced that it has signed an agreement with Landesbank Baden-Wuerttemberg (LBBW) to acquire cellent AG for 73.5 million euros. Cellent AG is a leading IT consulting and software services company and has been offering holistic innovative IT solutions and services to its customers in the DACH region of Germany, Austria and Switzerland for the past 14 years. cellent AG serves the DACH market region with a team of more than 800 consultants, who will now become part of Wipro. On 9 December 2015, Wipro Digital, the digital business unit of Wipro, announced the opening of its new London pod, furthering its commitment to offer enhanced digital transformation services at close proximity to its UK and European customers. The new pod is purpose-built for Wipro Digital's strategy, design and engineering teams to work in a collaborative and adaptive workspace side-by-side with clients. On 23 December 2015, Wipro announced that it has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry, for a purchase consideration of USD 130 million. Viteos was founded in 2003 and is headquartered in Somerset, New Jersey. The Viteos Group provides customized straight-through-processing and integrates post-trade operations across every asset class, currency, border or structure for the alternative investment management industry in the United States, Europe and Asia. It is a leader in shadow-accounting services and offers a full range of middle and back-office outsourcing through its 400 plus employees. On 4 February 2016, leading international insurer RSA announced a new seven-year partnership with Wipro to deliver its IT infrastructure requirements across the UK, Ireland and Scandinavia. Wipro will be providing infrastructure as a service for mainframe, mid-range, storage, cloud and end user services in addition to a multilingual service desk for RSA employees in all the regions. This will enable pan-European standardisation, improved end-to-end responsibility and a platform for business-led collaboration. This agreement follows a 10-month sourcing programme, which included 20 bidders, and reflects RSA's aim to drive benefits through the consolidation of services across its regional businesses. On 8 February 2016, Wipro announced that it has won an IT infrastructure transformation contract from the ASSA ABLOY Group, headquartered in Sweden. ASSA ABLOY is the global leader in door opening solutions. As part of the five-year agreement, Wipro will consolidate ASSA ABLOY's existing data centers in the EMEA region and implement a cloud-based service model, which will include IaaS (Infrastructure as a Service) and PaaS (Platform as a Service). On 11 February 2016, Wipro announced that it has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. As part of the agreement, Wipro will acquire 100% of HealthPlan Services' shares for a purchase consideration of USD 460 million. Headquartered in Tampa, Florida, HealthPlan Services offers market-leading technology platforms and a fully integrated Business Process as a Service (BPaaS) solution to Health Insurance companies (Payers) in the individual, group and ancillary markets. HealthPlan Services' BPaaS solutions are ideal for payers who want to operate in the private and public exchanges and the off-exchange individual market in the U.S. On 22 February 2016, Wipro announced a partnership with Verveba Telecom, LLC, a premiere telecom network engineering company specializing in network planning, design, deployment and mobile radio network optimization services for telecom service providers. The partnership brings together Wipro's expertise in telecom sector and Verveba's award winning Mobile Radio Network Optimization technology with services, intellectual property and solutions of both organizations. Together, the companies will offer solutions to address industry challenges in generating measurable economic value from fast growing, mobile network technology deployments & optimization especially in 4G and single RAN technologies. Verveba and Wipro will work together on business development activities and expanding solutions to telecom service providers globally. On 23 February 2016, Wipro announced a partnership with SugarCRM, the company that enables businesses to create extraordinary customer relationships with the most innovative, flexible and affordable CRM solution in the market, to offer Customer Relationship Management (CRM) solutions to enterprise customers. As part of the partnership, Wipro is establishing a new SugarCRM practice within Wipro's CRM service line. The company is also building a SugarCRM Center of Excellence (COE) with SugarCRM-trained and certified employees who can attend to customers worldwide. As partners, Wipro and SugarCRM anticipate addressing the increased expectations of empowered customers and will jointly offer enterprises a tool to act as the catalyst for a seamless customer experience. On 10 March 2016, Wipro announced a strategic collaboration with Tableau, a global leader in rapid-fire, easy-to-use business analytics software, to offer solution accelerators and innovative delivery models for Wipro's and Tableau's customers across the globe. This partnership aims at cross leveraging business intelligence expertise between Wipro and Tableau to deliver holistic, future proof and ready-to-go advanced visualization solutions to their customers across the globe. With this partnership, Wipro will focus on creating solutions primarily in the sectors of financial services, retail, consumer packaged goods (CPG) and pharmaceuticals. Innovative cloud-based delivery and business models such as subscription based pricing that will be enabled with this collaboration will widen the spectrum of the offering in terms of both scale and scope. On 14 March 2016, Wipro announced that it has won a multi-year engagement with NRGi, one of the top 5 utility providers in Denmark. As part of the contract, Wipro will develop a new IT platform to transform the utility company's CRM, Billing and Service Bureau operations. On 15 March 2016, Wipro announced a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems, to develop convergent solutions for India's Smart Cities. Wipro and Schneider Electric will collaborate to enable the delivery of cost-effective and efficient citizen services to urban and rural communities. Both organizations will jointly develop solutions in the Smart City space for India and global markets. On 28 March 2016, Wipro announced that it has won a five-year contract from Jubilant FoodWorks Limited, master franchisee for Domino's Pizza and Dunkin' Donuts in India and the leader in the Quick Service Restaurant (QSR) space in the country with over 1,000 restaurants in India, to deliver energy management services and help reduce energy and operational costs. On 4 May 2016, Wipro and and Qlik, a leader in visual analytics, announced that the companies have extended their partnership to a global alliance and will work together to offer advanced enterprise analytics solutions to joint customers across industry sectors. Wipro's competency in delivering end-to-end Business Intelligence (BI) solutions combined with QlikView, Qlik's market-leading data discovery solution, will widen the scope and scale of visualization solutions offered to customers. On 5 May 2016, Wipro announced that it has been chosen by Thames Water, the United Kingdom's largest water and waste water services provider, to transform the utility company's customer service and retail billing capabilities. As part of this multi-year contract, Wipro will be developing new IT systems and processes to help Thames Water improve customer experience and drive operational efficiencies. On 11 May 2016, Wipro announced a strategic partnership with Etiya, the leading Independent Software Vendor that provides services to transform the Communications and Digital Service Providers' businesses. The joint solution, offered by Etiya and Wipro, provides Communication Service Providers with capabilities which allow them to deliver digital services that address the requirements of the future market and customer expectations. The customer experience is focused around domains such as Sales and Marketing, Omni Channel Access, Social Listening and Analysis & B2B Extensions. On 16 May 2016, Wipro announced a partnership with Xactly Corporation, a leading provider of enterprise-class, SaaS and cloud-based incentive solutions for employee and sales performance management. The partnership will offer Sales Performance Management (SPM) solutions for customer organisations across industry sectors in a software as a service model. On 18 May 2016, Wipro announced that it has been selected by Vestas Wind Systems A/S as its strategic IT partner for Workplace Services. Headquartered in Aarhus, Denmark, Vestas is a global energy company that delivers best-in-class wind energy solutions in over 75 countries. Vestas' core business comprises of the development, manufacturing, sale and maintenance of wind power plants. On 25 May 2016, Wipro announced the launch of Total Customer Centricity (TCC), a Master Data Management solution for the manufacturing sector. Total Customer Centricity (TCC) will enable global manufacturers to transition from a product-centric to a customer-centric approach. TCC will also provide visibility into the relationships between devices, locations and customers. The solution will allow manufacturers across the globe capture a comprehensive, single view of each of their customers and products. On 8 June 2016, Wipro announced a partnership with Mountain View based Authentise Inc, a leading provider of 3D printing technologies and consulting services. This strategic partnership between Wipro and Authentise will enable adoption of additive manufacturing among the Global 2,000 companies. On 15 June 2016, Wipro announced the launch of its analytics solution, Data Discovery Platform. The solution provides pertinent business insights across the value chain of an industry through pre-defined 'apps'. Wipro's Data Discovery Platform will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation. On 20 July 2016, The Greater Toronto Airports Authority (GTAA) announced that it has awarded a seven-year strategic IT and Business transformation contract to Wipro. GTAA operates Toronto Pearson International Airport, the largest airport in Canada and the second largest in North America in terms of international traffic. On 7 September 2016, Wipro announced that it has won an IT contract from NSB Group, one of Norway's largest transportation groups. Headquartered in Oslo, NSB has extensive passenger transportation operations by way of the rail and bus, freight by rail, property management and development and train maintenance segments. As part of the three-year agreement, Wipro will implement its Boundaryless Datacenter (BLDC) and LiVE Workspace solutions and utilize its next-generation delivery framework ServiceNXT to deliver services which will help NSB variablise its IT operations. On 12 September 2016, Wipro announced a partnership with Israel-based IntSights Cyber Intelligence Ltd to bolster and expand its 'Threat Intelligence as- a- Service offering.' Intsights has developed a sophisticated cyber threat intelligence platform which provides advance warning and customized insights about potential cyberattacks and recommends remedial action. The company monitors the open, deep and dark web, including cyber-crime forums and social media platforms for signs of targeted threats against enterprises and provides alerts in near real-time to enable timely response and mitigation. Wipro's 'Threat Intelligence as a Service' offering delivers in-depth analysis of cyber threats originating from in-house sources and third-party sources or threat actors and provides enterprises with accurate cyber intelligence and incident mitigation strategies. On 12 September 2016, Wipro announced a partnership with Vectra Networks, a Silicon Valley-based cybersecurity company that provides automated threat management solutions for real-time detection of in-progress cyber attacks. Wipro will leverage the Vectra automated threat management platform built with artificial intelligence-based on machine learning and behavioral analytics to detect attacker behaviors and user anomalies in the network. On 15 September 2016, Wipro and Reltio, an enterprise data-driven applications and modern data management Platform as a Service (PaaS) company, announced a partnership to develop faster and cost effective Master Data Management (MDM) solutions. This partnership will help Reltio and Wipro's clients bridge the gap between data and insights by boosting the reliability of information, while ensuring users get access to relevant data. On 20 September 2016, Wipro and Witbe, a leading innovator in the field of Test Automation and Services Quality of Experience (QoE) Monitoring Robots for Broadband, Voice and TV Triple-Play monitoring, unveiled their global partnership. This partnership is of strategic importance to Wipro, and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices. These solutions will benefit new and existing customers of Wipro and Witbe including semiconductor players, Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and service providers in the media industry. On 13 October 2016, Wipro announced the launch of Treasury DNA Decisions and Analytics platform that will digitally enable global treasuries using cloud technologies. Treasury DNA is powered by BELLIN's tm5, a leading treasury management systems provider. Treasury DNA is a next generation platform with a comprehensive suite of technology services delivered in a subscription-based model, and is ideal for global treasurers who aspire to be future-ready. The platform aims to transform and enhance treasury processes and operations within an enterprise. It provides real-time, integrated data and actionable treasury insights to power financial decision making. On 20 October 2016, Wipro announced that it has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences, for a purchase consideration of USD 500 million. Established in 2006, Appirio is headquartered in Indianapolis with offices in San Francisco, Dublin, London, Jaipur, and Tokyo and has 1,250 employees worldwide. Appirio is a trusted partner to some of the world's leading brands, including Stryker, Robert Half, Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home Depot, and Sony PlayStation. Once completed, Wipro's acquisition of Appirio will create one of the world's largest cloud transformation practices, a game changer in today's as-a-service and digital economy. Appirio also brings to Wipro, Topcoder, a leading crowdsourcing marketplace connecting over a million designers, developers and data scientists around the world with customers. On 27 October 2016, Wipro announced that it has won a five-year engagement with Speciality Restaurants Ltd., a leading fine dining operator in India with 107 restaurants spread across India, Bangladesh, Tanzania and Doha in Qatar. Wipro will offer energy management services to Speciality Restaurants, which would help pare energy and operational costs. The EcoEnergy business of Wipro will implement its Managed Restaurant Energy Services (MRES) program across Speciality Restaurants' full service restaurants. On 7 November 2016, Wipro announced the launch of its Open Banking API (Application Programming Interface) Platform. The Open API platform will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardization of APIs. Open Banking is an emerging trend in financial technology that uses Open APIs to enable third party developers build applications and services around a financial institution. It facilitates greater financial transparency and helps financial institutions innovate and create new revenue models. Open Banking has been gaining significant momentum across the globe, especially in the European banking industry - driven by changing regulatory mandates. Revised Directive on Payment Services (PSD2) is one such regulatory mandate that aims to standardize, integrate and improve payment efficiency in the European Union. On 15 November 2016, Wipro and ASG Technologies, a global provider of information access, management and control solutions, announced an expanded partnership that integrates the offerings of Wipro's Data Management Centre of Excellence (CoE) with ASG's Enterprise Data Intelligence solution to improve compliance for the global financial services companies. On 1 December 2016, Wipro announced that it has been awarded a three-year IT infrastructure services and digital transformation contract by Woodside. Woodside is an Australian oil and gas company with a global presence, and is recognised for its world-class capabilities as an explorer, a developer, a producer and supplier. Leveraging its ServiceNXT platform, Wipro will provide Managed Services for IT Infrastructure across Woodside's global portfolio, with a focus on the larger sites of Perth and Karratha in Australia. The engagement includes delivering infrastructure services to offshore maritime facilities and potential exploration sites. On 25 January 2017, Wipro signed an agreement to acquire InfoSERVER S.A. for BRL 27.6 Million (USD 8.7 million). InfoSERVER, an IT services provider, which is focussed on the Brazilian market, provides custom application development and software deployment services. Two-decade old InfoSERVER, which counts some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country's highly traditional and competitive Banking, Financial Services & Insurance market besides adding invaluable domain and process knowledge on the sector. On 30 January 2017, Wipro announced a strategic partnership with Tradeshift, the fastest growing business commerce platform, to offer cloud-based Source-to-Pay (S2P) Business Process as a Service (BPaaS) solution. The partnership aims to help customers accelerate digitalization and automation in their procurement, finance and accounting functions. Headquartered in San Francisco, Tradeshift offers a business commerce platform to digitally connect companies through cloud-based, collaborative accounts payable and procurement automation. Along with the partnership agreement, Wipro Ventures, the strategic investment arm of Wipro, has made an investment in Tradeshift to strengthen the partnership and further develop Tradeshift's innovative applications, trade financing solutions platform and business-to-business marketplace ecosystem. On 31 January 2017, Wipro Gallagher Solutions (WGS), an end-to-end provider of lending products and services, announced a partnership with Veri-Tax LLC, a leading national verification specialist, to streamline verification solutions. The partnership between Wipro Gallagher Solutions, the provider of the NetOxygen Loan Origination System (LOS) and Veri-Tax LLC will help lenders mitigate identity fraud, accelerate processing, and improve the customer's experience seamlessly and electronically. On 1 February 2017, Wipro announced that it has joined the Industrial Internet Consortium (IIC), the global, member-supported organization that promotes the accelerated growth of the Industrial Internet of Things (IIoT). This membership provides Wipro opportunities to engage and innovate with multi-partner testbeds and adopt best practices to drive digital transformation for customers. On 14 February 2017, Wipro announced that it is delivering analytics-based insights for specific industries with the Data Discovery Platform, its newest big data analytics-as-a-service solution. Built with IBM BigInsights and IBM dashDB and developed on Bluemix, IBM's cloud platform, the solution accelerates insight-driven decision making through pre-built applications for specific industries, such as banking and financial services, retail, energy, education and manufacturing. On 15 February 2017, Wipro announced that its Digital-TV (DTV) Middleware Solution, which facilitates In-Car TV reception systems, has been customized for the Japanese automotive market. Wipro's DTV Middleware offering provides a turnkey solution for global Original Equipment Manufacturers (OEMs) of automotive infotainment systems to enable broadcast TV reception within vehicles. On 28 February 2017, Wipro announced a new IoT-based solution for wind parks and wind turbine manufacturers that leverages the Hewlett Packard Enterprise (HPE) Windpark Manager 4.0. The solution manages wind turbines and associated IT infrastructure, including IT applications and security aspects to optimize operational expenditure, generate new revenue streams, and future-proof a customer's business. On 8 March 2017, Wipro announced that it has become a member of the LoRa Alliance, one of the fastest growing Internet of Things (IoT) alliances with over 400 members. This membership will help Wipro accelerate its Internet of Things (IoT) solution deployments, using Low Power Wide Area Networks (LPWAN) technology for customers across industry sectors such as energy, utilities, natural resources, smart cities, ports, and logistics. On 14 March 2017, Wipro announced that it has won a twelve-year contract from NHS Scotland to build a next generation Enterprise Master Patient Index (eMPI) solution. This solution, which will be hosted in Scotland, will help NHS Scotland transition from its current legacy Community Health Index System (CHI) to offer cost effective, efficient, paperless and patient-friendly healthcare services in Scotland. NHS Scotland is the region's National Health Board working towards reducing health inequalities and improving health conditions. On 15 March 2017, Wipro announced its partnership with Harte Hanks to offer marketing technology services. As part of the multi-year engagement, Wipro will upgrade Harte Hank's data analytics and applications platform, create a scalable operating model and simplify IT related processes for the company. Harte Hanks is an American marketing services company specializing in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. On 15 March 2017, Wipro announced the opening of an Automotive Engineering Center (AEC) in Detroit. The center aims to drive innovation in connected vehicle concepts - design, product engineering, digital customer-vehicle experiences, artificial intelligence, and sensors-driven advanced vehicle data analytics. The center will serve as a hub to support the automotive engineering and IT requirements of Original Equipment Manufacturers (OEMs) and tier-I suppliers, based in North America. On 4 May 2017, Wipro announced that it has joined the Enterprise Ethereum Alliance (EEA) as a founding member. EEA is a collaboration of enterprises to promote, develop and implement enterprise grade Ethereum-based blockchain applications across industries for specific business use cases.On 17 May 2017, Wipro announced that it has developed nine blockchain-based solutions for the Banking Financial Services and Insurance (BFSI), Manufacturing, Retail and Consumer Goods industries. Defined, designed and co-developed with clients in Wipro's Blockchain Innovation Lab, these solutions demonstrate what block chain can accomplish for global enterprises. On 14 June 2017, Wipro announced that it has won an IT Applications Managed Services engagement with Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries. Valmet is headquartered in Finland. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platform in a Managed Services model covering all global locations in which Valmet operates. The construct of the contract is geared towards bringing cost efficiencies and enabling enhanced optimization in ongoing support. Additionally, Wipro will also support the end to end testing activities around the implementation and rollout of the new ERP platform. On 15 June 2017, Wipro announced that it has achieved Amazon Web Services (AWS) Service Delivery status for AWS Service Catalog. With this status, Wipro's capabilities help clients build the AWS Service Catalog to enable self-service discovery, maintain controls and centrally manage their enterprise cloud services. On 22 June 2017, Wipro announced a collaboration with Red Hat, the world's leading provider of open source solutions, to set up a cloud application factory designed to offer developers and IT teams a repeatable and rapid methodology for application modernization across public, private, and hybrid clouds. Wipro's cloud application factory will have a dedicated services team that can help drive the strategy, design, and delivery of next generation applications globally, using Red Hat OpenShift Container Platform, Red Hat's award-winning container application platform. On 28 June 2017, Wipro announced that locals now form over 50% of its US workforce. The company has been focused on creating jobs in the US underscoring its strategy to build a deep reservoir of local talent based out of centers close to its clients. During the past decade, Wipro has invested over USD 2 billion in the United States. On 5 July 2017, Wipro and Ramot, the Business Engagement Center at Tel Aviv University (TAU), announced a partnership for joint research in emerging technologies. TAU is Israel's largest institution of higher learning which is home to over 30,000 students studying in nine faculties, over 125 schools and departments across the spectrum of sciences, engineering, humanities and the arts. The partnership envisages the creation of joint research capability at TAU, supported by Wipro to pursue core as well as applied research in fast-developing technologies in the Artificial Intelligence (AI) space. Wipro's Board of Directors at its meeting held on 20 July 2017 approved a proposal to buyback up to 34.37 crore equity shares of the company for an aggregate amount not exceeding Rs 11000 crore, being 7.06% of the total paid up equity share capital, at Rs 320 per share on a proportionate basis under the tender offer route. On 25 July 2017, Wipro announced a partnership with Hewlett Packard Enterprise (HPE) to offer IT infrastructure solutions in a consumption-based or pay-per-use business model for enterprises. This model for IT Infrastructure procurement and provisioning will be offered to both Wipro and HPE's customers, globally. As a part of this alliance, Wipro will leverage HPE Flexible Capacity to offer flexible and scalable IT infrastructure services in a consumption-based IT model, accelerate growth and enable digital transformation for its customers. HPE's scalable consumption-based IT model of provisioning and procurement coupled with Wipro's industry proven end-to-end suite of IT Infrastructure services, and global delivery capabilities will enhance the security, agility, scalability of customers' IT infrastructure, and help them ascertain and regulate the public cloud economics of their data centers. On 1 August 2017, Wipro announced the launch of a multi-million dollar Silicon Valley Innovation Center in Mountain View, California. This state-of-the-art R&D and incubation hub is designed to develop and showcase next-generation technologies and solutions for enterprises. On 2 August 2017, Wipro and Tricentis, a software testing company and a thought leader in the automated testing space, announced a partnership for Quality Engineering. This partnership with Tricentis will strengthen Wipro's Quality Engineering and Testing Services capabilities, by integrating Tricentis Tosca, a continuous testing platform, with Wipro AssureNXT, a managed services QA platform combined with the capabilities of Wipro HOLMES Artificial Intelligence Platform as a part of the broader automaton ecosystem. On 7 August 2017, Wipro announced the availability of Data Discovery Platform, its big data analytics-as-a-service solution on Microsoft Azure. The solution accelerates insight-driven decision making through pre-built applications for specific industries, such as banking and financial services, retail, energy, education and manufacturing. Wipro's Data Discovery Platform will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation to bridge the gap between the insights required by business and the information that is available. Wipro Data Discovery Platform is available in an outcome-based pay-per-insight' cloud delivery model. On 8 August 2017, Wipro and Excelfore, a leading provider of middleware solutions for Smart Mobility Networks, announced a global partnership to offer secure connectivity solutions for next generation smart and autonomous vehicles. This partnership combines Excelfore's Smart Mobility Networks solutions with Wipro's global systems integration and managed services expertise to enable connected car solutions for automotive original equipment manufacturers (OEMs) and Tier 1 equipment makers. On 16 August 2017, Wipro announced that it has won a five-year IT infrastructure and applications managed services engagement with Grameenphone (GP), a leading telecom operator in Bangladesh. Wipro will be managing the complete IT landscape for GP, leveraging Wipro HOLMES. On 4 September 2017, Wipro announced the launch of its newest digital pod in Edinburgh, Scotland, deepening its commitment to offer digital services at close proximity to its UK and European customers. The Edinburgh Pod is purpose-built for Wipro's digital strategy, design and engineering teams to work in a collaborative and adaptive workspace, along with clients. Digital pods allow teams to work with the necessary autonomy to facilitate speed, continually evaluating progress with user research and technical performance data. On 7 September 2017, Wipro announced that it has won a five-year IT applications management contract from Outokumpu. Headquartered in Finland, Outokumpu is a global leader in stainless steel. As part of the five-year contract, Wipro will provide applications management services for Outokumpu's SAP landscape along with legacy applications support to cover Outokumpu locations globally. On 12 September 2017, Wipro announced the launch of an Automotive Center of Excellence (CoE) in Timisoara, Romania. This CoE will help Wipro deliver innovative embedded software solutions for its global and European clients. This engineering center in Romania is part of Wipro's global delivery network that offers best-in-class engineering and IT services. On 13 September 2017, Wipro announced that it has joined Hyperledger to design and develop open source-based blockchain solutions for enterprise-grade blockchain deployments. Hyperledger is a global open source collaborative effort created to advance cross-industry blockchain technologies across sectors such as finance, banking, Internet of Things, supply chain, manufacturing and technology. On 14 September 2017, McLaren Technology Group announced that Wipro has become the official technology provider to help drive digitalisation across its businesses. Wipro will assist McLaren with achieving its recently defined IT strategy, focusing on providing next-generation differentiated IT services to its business divisions with an emphasis on agility and improved reliability. On 14 September 2017, Wipro announced the launch of automation services powered by its HOLMES artificial intelligence platform. Wipro's automation services are designed to deliver cognitive enhancements to user experience and productivity with a measurably improved Business Value Index' for each level of a business process. On 15 September 2017, Wipro announced that it has been awarded a seven-year contract by innogy SE to manage its data center and cloud services. innogy SE is an established European energy company. As part of the agreement signed in November 2016, innogy transferred its twin data centers in Neurath und Niederaussen in Germany to Wipro on 1 February 2017. The subsequent transition phase ran smoothly. Wipro will leverage its BoundaryLess Data Center offering to help innogy drive a transformation program to rationalize, virtualize and consolidate its IT infrastructure. On 15 September 2017, Wipro announced plans to deliver the Wipro BoundaryLess Data Center (BLDC) solution built on Hewlett Packard Enterprise (HPE) ProLiant for Microsoft Azure Stack to help customers expand their infrastructure capabilities beyond the traditional walls of the enterprise datacenter. This joint offering will help Wipro's customers benefit from an economic cloud model, in a hybrid environment across both on-premises data centers and the Azure public cloud. On 26 September 2017, Wipro and CloudGenix Inc., a leading provider of Software-Defined Wide Area Networking (SD-WAN) products, announced a partnership to offer open and managed SD-WAN services. Termed as WANFreedom, the service allows enterprise customers to rapidly deploy cloud, SaaS (Software as a Service) and data center applications over any combination of MPLS (Multiprotocol Label Switching), Internet broadband and LTE (Long Term Evolution) networks, thereby enabling a rich user experience and IT infrastructure cost optimization. On 5 October 2017, Wipro Digital announced that it has signed a definitive agreement to acquire Cooper, an award-winning design and business strategy consultancy. Wipro Digital is the digital business unit of Wipro. Cooper will become part of Designit, Wipro Digital's strategic design arm, further strengthening its design and innovation capabilities, expanding its reach in North America and adding capabilities in professional design education. On 6 November 2017, Wipro announced the launch of industry-specific solutions on SAP Leonardo. The first set of solutions will focus on the utilities industry, while the next will cover the consumer and manufacturing industries. SAP Leonardo is a holistic digital innovation system that comprehensively integrates future-facing technologies and capabilities into SAP Cloud Platform. As part of the partnership, Wipro will develop industry-specific analytics 'apps' on its insights-as-a-service solution, Data Discovery Platform, leveraging SAP Leonardo analytics, Big Data and data intelligence capabilities. On 1 December 2017, Wipro announced that its long-time customer National Grid US has filed lawsuit against the company in U.S. District Court for the Eastern District of New York seeking damages amounting to $140 million plus additional costs related to the project. The lawsuit relates to an ERP implementation project which began in 2009. Wipro joined the project in 2010, and the post-Go-live process was completed in 2014. Wipro said National Grid's claims are baseless and that the company will vigorously contest the allegations in court. On 15 December 2017, Wipro announced a partnership with Headspin, a San Francisco-based powerful, easy-to-use mobile experience platform, to offer next-generation mobility quality engineering and testing solutions on global mobile networks. This partnership will leverage Headspin's network of 22,000 mobile devices deployed in carrier networks across 150 locations and Wipro's industry leading quality assurance capabilities to bring significant value to customers by validating their mobile applications, devices and networks under real life conditions. The joint offering will enable continuous monitoring of applications, identification of performance bottlenecks and rectification of inefficient content delivery to ensure a seamless application experience for end users, across geographies. Wipro Ventures, the strategic investment arm of Wipro that is focused on investing in early- to mid-stage startups, made an investment in Headspin in October 2017. On 23 January 2018, Wipro announced that it has won a multi-year business process services engagement with Nilfisk. Headquartered in Denmark, Nilfisk is a leading global supplier of professional cleaning equipment and solutions. As part of this contract which was signed in June 2017, Wipro will leverage its global delivery network to implement business process services for Nilfisk in the areas of Finance and Accounting (F&A), Marketing services as well as select IT services in more than 45 client locations, across the world. Wipro will support Nilfisk in consolidating its back office Finance & Accounting operations, being delivered from globally diverse locations. On 24 January 2018, Wipro announced that its wholly owned subsidiary Wipro LLC will invest $9.9 million for a minority stake in Harte Hanks, a US-based global marketing services company specializing in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. Both companies will expand their existing partnership to offer end-to-end marketing technology services to customers. On 1 March 2018, Wipro announced that it has signed a definitive agreement to acquire a minority stake in US based Denim Group, a leading independent application security firm. This partnership will bring together Wipro's strong digital transformation and cybersecurity capabilities with Denim Group's application security consulting, assessments and implementation services including DevSecOps and secure development training services. On 14 March 2018, Wipro announced that it has signed a definitive agreement to divest its hosted data center services business to Ensono, a leading hybrid IT services provider, for USD 405 million. Wipro and Ensono have also signed a long-term partnership agreement to jointly address the hybrid IT requirements of Wipro's new and existing enterprise customers. As part of the agreement, Wipro will make a strategic investment of USD 55 million in Ensono's combined entity. On 14 March 2018, Wipro and Trintech, a leading global provider of integrated, cloud-based Record to Report (R2R) finance software solutions for the office of finance, announced a strategic partnership to deliver digital solutions that help simplify and automate business finance functions at enterprises. As a strategic partner, Wipro will offer its clients Trintech's portfolio of financial solutions, which encompass high-volume transaction matching, balance sheet and intercompany reconciliations, journal entries, financial close task management, disclosure and fiduciary reporting, and compliance management. Wipro will work further with its clients to complement Trintech's portfolio with its strong consulting and execution capabilities in three key areas: collaborating with Wipro's AI & Automation platform HOLMESTM to extend the footprint of Trintech's Risk Intelligent RPATM financial solution; planning and delivering world-class financial transformation along with integration services with clients' systems; and post-implementation support utilizing Wipro's global delivery model. On 26 March 2018, Wipro announced an expanded global relationship with Adobe to create, build and run digital marketing solutions and campaigns for their clients, across the globe. As a part of this alliance, Wipro will embed Adobe's design and prototyping software, Adobe XD CC, the all-in-one UX/UI solution for designing and prototyping mobile apps and websites, into its Digital Experience Platform. On 27 March 2018, Wipro unveiled its Texas Technology Center in Plano, Texas. The new facility will primarily house Wipro's US cyber security center, as well as serve as a hub for advanced analytics. The state-of-the-art 45,000-square feet center is designed to promote collaboration, spur eativity and enhance productivity. In addition to the newly-launched Texas Technology Center in Plano, Wipro has major operations in Dallas and Houston, in Texas. The company plans to ramp up its headcount in Texas to 2,000 over the next few years from 1,400 now.

Wipro Ltd Chairman Speech

Dear Stakeholders,

This year, we embark on our 75th year of creating value for our stakeholders. It is an important milestone for us and we take great pride in how Wipro is an exemplar of a successful, ethical and a socially responsible organization. If we look back at the Wipro journey in the last seven decades, from a small vegetable oil company to a leading information technology company that we are today, we have evolved by constantly re-inventing ourselves and creating newer opportunities. This has been possible because of the deep commitment and hard work of Wiproites and the core values that have remained our guiding light.

Along the journey, we have focused on continuous evaluation of the capabilities we need to win. This year as a part of the strategic plan exercise, we identified four technologies that will lead us into the future - Digital, Cloud, Engineering Services and Cyber Security. Based on the approval from the Board, we have decided to step up our investments significantly in these four big bets. Furthermore, we also divested our datacenter business which has improved our return on capital employed.

We are committed to enhancing value for our stakeholders.

Our EPS for the year ended March 31, 2019 grew by 18.6% YoY, which was the best in the last 5 years. We improved our working capital substantially and our free cash flows was robust at 106% of our net profits. We have a capital allocation philosophy of providing regular and stable payout to investors keeping two important considerations, one that of building long term stakeholder value and two that allows us to make required investments for future growth. Consistent with this philosophy, we declared a dividend of र 1 per share, completed a bonus issue of one equity share for every three held in March 2019 and also announced a buyback of र 105 billion through buyback to the shareholders in April 2019. The shareholders have approved the proposal to buyback equity shares of the company and the process is likely to be completed by August 2019.

As a large technology company which employs 170,000+ people, we have the responsibility to drive an inclusive growth. Technologies like digital and AI are disrupting the way services are rendered and the ability to learn becomes vital for our employees. At Wipro, we have made significant investments in re-skilling our employees in digital technologies. There are three levels of training that start from awareness programs, extensive learning programs through virtual labs and immersive programs that provide opportunities to build deep expertise. We are also using TopGear, our social learning and crowdsourcing platform as a workforce transformation tool as it has 2000+ learning assignments across 200+ skills. Today, we already have 55,000+ employees on TopGear. Localization is an important initiative we are driving to create a global, diverse and distributed talent base. In the last few years of running this program we have successfully localized all our major markets like USA, UK, Australia, Canada, Singapore, Africa and Middle East.

We are acutely aware that much of the economic progress in the world has come at the cost of climate change and therefore we have a responsibility towards creating a sustainable community. We have significantly scaled up renewable energy for our operations, contributing to 40% of our total consumption. Recycled water now contributes to 42 % of our total water usage. Education, has been the primary focus of our work for close to two decades now. Till date, we have partnered with 166 organizations working in school education. Wipro Earthian, a sustainability education program focused on water and bio-diversity, has reached out to 8,600 schools over the last nine years. The Wipro Science Education fellowship in the USA, which we started in 2013, works in seven sites across 35 school districts on improving STEM learning in schools serving disadvantaged communities. This year, we are collaborating with Kings College London and Sheffield Hallam University to provide rigorous continuous professional development to STEM teachers working in government designated ‘opportunity areas' in the UK, which by definition have a high proportion of failing-schools.

Through Wipro cares, our employee giving program, we have worked on education for disadvantaged children and children with disabilities and worked with partners who provide quality primary health care services to underserved communities. My own thinking of wealth & philanthropy is that we must remain ‘trustees' of our wealth for society, not its owners. As announced earlier, I have irrevocably renounced more of my personal assets and earmarked them to the endowment which supports the Azim Premji Foundation's philanthropic activities. The total value of the philanthropic endowment corpus contributed over time is ~USD 21 billion, which includes 67% of economic ownership of Wipro Limited.

We remain committed to building a glorious future.

I am pleased to share that Rishad Premji, Chief Strategy Officer and Member of the Board, will take over as the Executive Chairman of Wipro Limited with effect from July 31, 2019. Rishad brings to this role new ways of thinking, experience, and competence that will lead Wipro to greater heights. He has been an integral part of the leadership team since 2007, and has a deep understanding of the company, business strategy, culture and heritage. He is also deeply committed to the values which form the bedrock of Wipro. I will continue to serve on the Board of Wipro Limited as Non- Executive Director and Founder Chairman while dedicating most of my time and energy to the philanthropic efforts of the Foundation.

Leading Wipro from 1966 till now has been the greatest privilege of my life, it has been an extraordinary journey. I want to thank the generations of Wiproites and their families for their contribution towards building our company to what it is today. I am grateful to our clients, partners, and other stakeholders who have reposed trust and confidence in us.

Wipro will continually transform to scale new heights as the world changes while remaining firmly committed to its values. I am confident that the future of Wipro will far outshine anything that we have done before.

Very Sincerely,

Azim Premji

   

Wipro Ltd Company History

Wipro Ltd is a leading India based provider of IT Services, including Business Process Outsourcing (BPO) services, globally. The company provides comprehensive IT Solutions and Services, including Systems Integration, Information Systems Outsourcing, IT Enabled Services, Package Implementation, Software Application development and maintenance, and Research and Development Services to corporations globally. The company is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Indian market, they are a leader in providing IT Solutions and Services for the corporate segment in India, offering System Integration, Network Integration, Software Solutions and IT Services. In the Asia Pacific and Middle East markets, they provide IT Solutions and Services for global corporations. The company is headquartered in Bangalore, India. The company provides the integrated business, technology and process solution on a global delivery platform to customers across Americas, Europe, Middle East and Asia Pacific. They offer business value to clients through process excellence and service delivery innovation such as Information Technology services, Product Engineering services, Technology Infrastructure services, Business Process Outsourcing services and consulting services. During the financial year 2013, Wipro carried out demerger of consumer care and lighting, infrastructure engineering businesses and other non IT business of the company. After the demerger, Wipro became a company focused on the IT services business. Wipro Ltd was incorporated in the year 1945 at Karnataka by Azim H Premji who is promoter and chairman of the company. The company started as an edible oil producer and then transformed itself into leading player in Fast Moving Consumer Goods and IT services & Products business. During the year 1994-95, the company secured ISO 9001 certification for their five manufacturing and development facilities. In February 2001, the company became the first software technology and services company in India to be certified for ISO:14001 certification for complying with the international standards for Environmental Management System (EMS) in three major software development and technology centers in Bangalore. Wipro Technologies won the 'Banker Technology Award' for the year 2004 Instituted by the Financial Times in the 'Risk Management Award' category. During the year 2005-06, the company acquired mPower Software Services Inc, a Princeton, New Jersey, US headquartered company with a development center in Chennai and MPACT Technology Services Pvt Ltd, based in Chennai, for an all cash consideration of USD 28 million. Also, they acquired New Logic Technologies AG, an Austrian firm which is mainly engaged in the semiconductor IP business and the Engineering Design Services business including the Analog Mixed Signal Business for an all cash consideration of Euro 26 million. The company received the BEST award from American society for training & development (ASTD) for three consecutive years 2004, 2005 and 2006. During the year 2006-07, the company acquired US based Quantech Global Services LLC and the India based Quantech Global Services Ltd for a cash consideration of approximately USD 3 million. They acquired US based CMango Inc and India based CMango India Pvt Ltd for cash consideration of USD 20 Million. They also acquired Finland based Saraware Oy Middle East and SAARC operations of 3D Networks and Planet PSG during the year. In their Consumer Care and Lighting business, the company acquired North-West Switches business from North- West Switchgear Ltd, a company in the business of switches, sockets, MCBs etc. for an upfront cash consideration of Rs 1,022 million. In the Infrastructure Engineering business, they acquired Hydrauto Group AB for a cash consideration of USD 31 million. The company in partnership with Motorola and formed a joint venture namely WMNETSERV Ltd for delivering world-class managed Services to telecom operators in the area of network operations. During the year 2007-08, as per scheme of amalgamation, Wipro Infrastructure Engineering Ltd, Wipro Healthcare IT Ltd, Quantech Global Services Ltd mPact Technology Services Pvt Ltd, mPower Software Services (India) Pvt Ltd and cMango India Pvt Ltd were amalgamated with the company with effect from April 1, 2007. The company in association with DAR Al-Riyadh Holding Co Ltd formed a joint venture namely Wipro Arabia Ltd, for providing application development, implementation and maintenance services, systems integration and data storage services in the Kingdom of Saudi Arabia. During the year, the company acquired 100% shareholding in Unza Holdings Ltd, a Singapore based Fast Moving Consumer Goods company together with their subsidiaries for an all cash consideration of approximately USD 246 million. They acquired US-based provider of IT infrastructure management, enterprise application and business process outsourcing services, for an acquisition price of about USD 600 million. They also acquired OKI Techno Centre Singapore Pte Ltd (now called as Wipro Techno Centre Singapore Pte Ltd) in an all cash deal of USD 2.5 million. During the year 2008-09, the company invested an aggregate of USD 432 million as equity, in their direct subsidiaries Wipro Cyprus Pvt Ltd, Wipro Holdings (Mauritius) Ltd, Wipro Inc and Wipro Technology Services Ltd. They also re-structured a few of their overseas subsidiaries and merged them with their holding company in the US. In January 2009, the company acquired Wipro Technology Services Ltd (formerly called as Citi Technology Services Ltd) for USD 127 million. During the year 2009-10, Wipro Networks Pte Ltd, Singapore and WMNETSERV Ltd, Cyprus were amalgamated with the company with effect from April 1, 2009. In August 2009, the company entered into partnership with Lavasa Corporation Ltd for planning, implementing and managing Information and Communication Technology services across Lavasa City. In October 2009, the company signed an agreement with Delhi International Airport Pvt Ltd and formed a joint venture company namely Wipro Airport IT Services Ltd. Also, Wipro GE Healthcare Pvt Ltd, the joint venture between the company and GE Healthcare, transformed their business by integrating several existing stand-alone business units and manufacturing plants of GE Healthcare in India under Wipro GE Healthcare Entity. In November 2009, the company signed an agreement to acquire the 'Yardley' Brand business in Asia, Middle East, Australia and certain African markets from UK based Lornamead Group. In March 2010, they won a turnkey project from the Financial Intelligence Unit - India, Ministry of Finance, Government of India. As part of the project, the company will implement FiNnet (Financial Intelligence Network) for FIU-IND. In April 2010, the company signed a partnership agreement with Philips to offer Blu-ray middleware and solution development services around Philips' developed Blu-ray technology. In May 2010, the company and Oracle Corporation launched a co developed solution, a Process Integration Pack (PIP) for the High Technology industry. This solution is part of Wipro's offerings that provide a comprehensive solution footprint for the High Technology industry. They entered into a co-innovation agreement with SAP AG to develop and deliver sustainability management and energy management solutions to enterprise customers globally. In June 2010, the company's Business Process Outsourcing division partnered with Microsoft Corporation for providing global Legal Process Outsourcing (LPO) for Microsoft's Intellectual Property (IP) portfolio. The company launched Wipro Hospitality Management Solution at HITEC 2010, the conference for the Hospitality and Leisure industry. In July 2010, the company in association with Lavasa Corporation Ltd and Cisco Systems Inc signed definitive agreements for Cisco to participate in MyCity Technologies Ltd to provide information and communications technology services in the new development of Lavasa City. In August 2010, the company entered into a five year agreement with ArcelorMittal, the steel company, to consolidate and migrate their messaging systems to the Microsoft Exchange 2010 messaging platform. In September 2010, the company signed five year strategic partnership with Central Bank of India for providing core banking solution for seven sponsored regional rural banks. The company will deliver business-IT alignment by deploying and implementing the core banking solution and the identified delivery channels seamlessly. They will also set up a 24 hour centralized helpdesk facility for the project, covering applications, data center, networks, security and end user systems. During the year 2010-11, the company re-structured a few of their subsidiaries including overseas subsidiaries through merger/other legal process. Wipro Yardley consumer care Pvt Ltd, a subsidiary company got merged with Wipro Ltd with effect from April 1, 2010, being the appointed date. In December 2010, the company signed a contract with Vodafone Essar. As a part of this strategic engagement, the company will support Vodafone Essar with its fixed line telecom services for enterprise business customers. Wipro will provide a wide range of services including network design and build, integration with existing IT OSS/ BSS applications and managed services if the setup over three years. In addition, Wipro will also build an Enterprise Network Operation Center to manage the operations of Vodafone Essar's enterprise customers. In January 2011, the company and Callidus Software Inc entered into a partnership to drive sales performance management across organizations in the Asia-Pacific region. In May 2011, the company signed an agreement to acquire majority stake of Brazil based Hydraulic Cylinder manufacturer R.K.M. EQUIPAMENTOS HIDRAULICOS LTDA. In June 10, 2011, the company acquired the Commercial Business Services Business Unit of Science Applications International Corporation (SAIC). In 2012, Australia-based MMG Selects Wipro as Strategic Partner. Wipro Acquires L.D.Waxson with Skincare brands Bio-essence & Ginvera. Wipro Tech joined Car Connectivity Consortium (CCC) to develop smartphone-based connected-car solutions. Wipro Technologies and Oracle joined hands to offer next gen Oracle Fusion HCM solution. In a bid to capture the growth in fast emerging trade promotion industry, India's third largest software exporter Wipro ltd has signed an agreement to acquire Promax Applications Group (PAG) for a total consideration of AUD 35 million. Wipro also Wins NASSCOM Corporate Award for Excellence in Diversity and Inclusion 2012. In 2013, Wipro Wins NASSCOM Corporate Award for Excellence in Diversity and Inclusion 2012. Wipro Launched Wipro AssureHealth Platform on Microsoft Technologies. Wipro also Wins 3 Year Contract from Emirates NBD. Wipro launches 3rd edition of its sustainability program for schools and colleges- earthian 2013'. Wipro Launches Co-Innovation Center for SAP Solutions in Bangalore. Wipro Launches Mobility Center of Excellence with Kony in Hyderabad. Wipro Receives National Award for Empowerment of Persons with Disabilities. During the financial year 2013, Wipro carried out demerger of consumer care and lighting, infrastructure engineering businesses and other non IT business of the company. After the demerger, Wipro became a company focused on the IT services business. In 2014, Wipro Wins 2013 Global, Asian and Indian MAKE Awards. Wipro Wins Ten Year Integrated IT and BPO Contract from UK-based, Carillion Plc. Wipro Signs Partnership with AxiomSL. Wipro Wins Managed Services Contract from DEN Networks. Wipro Wins a Transformational IT Applications and Infrastructure Engagement with 7-Eleven in Australia. Wipro Wins a Strategic Ten Year Total Outsourcing Engagement with ATCO. Wipro Launches Global Customer Experience Center. Wipro Ranked Global Leader in Telecom R&D Services for the Third Consecutive Year. Wipro is Rated as a No.1 Global Engineering and R&D service provider by Zinnov. In 2015, Wipro wins $400m IT Infra Deal from Swiss Giant ABB. Wipro is also Awarded Multi Year Strategic Infrastructure Management Contract by Allied Irish Banks. Wipro also joins together with Acquia for digital technology. Wipro signs an agreement with Nexenta. Wipro Wins 5-Year Strategic Engagement with Coop Norge Handel AS. Wipro Wins 2015 Aegis Graham Bell Award for 'Innovation in IoT. Wipro Business Process Services Launches enterprise-Know Your Customer (e-KYC)' Automation Solution for Financial Institutions. On 2 December 2015, Wipro announced that it has signed an agreement with Landesbank Baden-Wuerttemberg (LBBW) to acquire cellent AG for 73.5 million euros. Cellent AG is a leading IT consulting and software services company and has been offering holistic innovative IT solutions and services to its customers in the DACH region of Germany, Austria and Switzerland for the past 14 years. cellent AG serves the DACH market region with a team of more than 800 consultants, who will now become part of Wipro. On 9 December 2015, Wipro Digital, the digital business unit of Wipro, announced the opening of its new London pod, furthering its commitment to offer enhanced digital transformation services at close proximity to its UK and European customers. The new pod is purpose-built for Wipro Digital's strategy, design and engineering teams to work in a collaborative and adaptive workspace side-by-side with clients. On 23 December 2015, Wipro announced that it has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry, for a purchase consideration of USD 130 million. Viteos was founded in 2003 and is headquartered in Somerset, New Jersey. The Viteos Group provides customized straight-through-processing and integrates post-trade operations across every asset class, currency, border or structure for the alternative investment management industry in the United States, Europe and Asia. It is a leader in shadow-accounting services and offers a full range of middle and back-office outsourcing through its 400 plus employees. On 4 February 2016, leading international insurer RSA announced a new seven-year partnership with Wipro to deliver its IT infrastructure requirements across the UK, Ireland and Scandinavia. Wipro will be providing infrastructure as a service for mainframe, mid-range, storage, cloud and end user services in addition to a multilingual service desk for RSA employees in all the regions. This will enable pan-European standardisation, improved end-to-end responsibility and a platform for business-led collaboration. This agreement follows a 10-month sourcing programme, which included 20 bidders, and reflects RSA's aim to drive benefits through the consolidation of services across its regional businesses. On 8 February 2016, Wipro announced that it has won an IT infrastructure transformation contract from the ASSA ABLOY Group, headquartered in Sweden. ASSA ABLOY is the global leader in door opening solutions. As part of the five-year agreement, Wipro will consolidate ASSA ABLOY's existing data centers in the EMEA region and implement a cloud-based service model, which will include IaaS (Infrastructure as a Service) and PaaS (Platform as a Service). On 11 February 2016, Wipro announced that it has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. As part of the agreement, Wipro will acquire 100% of HealthPlan Services' shares for a purchase consideration of USD 460 million. Headquartered in Tampa, Florida, HealthPlan Services offers market-leading technology platforms and a fully integrated Business Process as a Service (BPaaS) solution to Health Insurance companies (Payers) in the individual, group and ancillary markets. HealthPlan Services' BPaaS solutions are ideal for payers who want to operate in the private and public exchanges and the off-exchange individual market in the U.S. On 22 February 2016, Wipro announced a partnership with Verveba Telecom, LLC, a premiere telecom network engineering company specializing in network planning, design, deployment and mobile radio network optimization services for telecom service providers. The partnership brings together Wipro's expertise in telecom sector and Verveba's award winning Mobile Radio Network Optimization technology with services, intellectual property and solutions of both organizations. Together, the companies will offer solutions to address industry challenges in generating measurable economic value from fast growing, mobile network technology deployments & optimization especially in 4G and single RAN technologies. Verveba and Wipro will work together on business development activities and expanding solutions to telecom service providers globally. On 23 February 2016, Wipro announced a partnership with SugarCRM, the company that enables businesses to create extraordinary customer relationships with the most innovative, flexible and affordable CRM solution in the market, to offer Customer Relationship Management (CRM) solutions to enterprise customers. As part of the partnership, Wipro is establishing a new SugarCRM practice within Wipro's CRM service line. The company is also building a SugarCRM Center of Excellence (COE) with SugarCRM-trained and certified employees who can attend to customers worldwide. As partners, Wipro and SugarCRM anticipate addressing the increased expectations of empowered customers and will jointly offer enterprises a tool to act as the catalyst for a seamless customer experience. On 10 March 2016, Wipro announced a strategic collaboration with Tableau, a global leader in rapid-fire, easy-to-use business analytics software, to offer solution accelerators and innovative delivery models for Wipro's and Tableau's customers across the globe. This partnership aims at cross leveraging business intelligence expertise between Wipro and Tableau to deliver holistic, future proof and ready-to-go advanced visualization solutions to their customers across the globe. With this partnership, Wipro will focus on creating solutions primarily in the sectors of financial services, retail, consumer packaged goods (CPG) and pharmaceuticals. Innovative cloud-based delivery and business models such as subscription based pricing that will be enabled with this collaboration will widen the spectrum of the offering in terms of both scale and scope. On 14 March 2016, Wipro announced that it has won a multi-year engagement with NRGi, one of the top 5 utility providers in Denmark. As part of the contract, Wipro will develop a new IT platform to transform the utility company's CRM, Billing and Service Bureau operations. On 15 March 2016, Wipro announced a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems, to develop convergent solutions for India's Smart Cities. Wipro and Schneider Electric will collaborate to enable the delivery of cost-effective and efficient citizen services to urban and rural communities. Both organizations will jointly develop solutions in the Smart City space for India and global markets. On 28 March 2016, Wipro announced that it has won a five-year contract from Jubilant FoodWorks Limited, master franchisee for Domino's Pizza and Dunkin' Donuts in India and the leader in the Quick Service Restaurant (QSR) space in the country with over 1,000 restaurants in India, to deliver energy management services and help reduce energy and operational costs. On 4 May 2016, Wipro and and Qlik, a leader in visual analytics, announced that the companies have extended their partnership to a global alliance and will work together to offer advanced enterprise analytics solutions to joint customers across industry sectors. Wipro's competency in delivering end-to-end Business Intelligence (BI) solutions combined with QlikView, Qlik's market-leading data discovery solution, will widen the scope and scale of visualization solutions offered to customers. On 5 May 2016, Wipro announced that it has been chosen by Thames Water, the United Kingdom's largest water and waste water services provider, to transform the utility company's customer service and retail billing capabilities. As part of this multi-year contract, Wipro will be developing new IT systems and processes to help Thames Water improve customer experience and drive operational efficiencies. On 11 May 2016, Wipro announced a strategic partnership with Etiya, the leading Independent Software Vendor that provides services to transform the Communications and Digital Service Providers' businesses. The joint solution, offered by Etiya and Wipro, provides Communication Service Providers with capabilities which allow them to deliver digital services that address the requirements of the future market and customer expectations. The customer experience is focused around domains such as Sales and Marketing, Omni Channel Access, Social Listening and Analysis & B2B Extensions. On 16 May 2016, Wipro announced a partnership with Xactly Corporation, a leading provider of enterprise-class, SaaS and cloud-based incentive solutions for employee and sales performance management. The partnership will offer Sales Performance Management (SPM) solutions for customer organisations across industry sectors in a software as a service model. On 18 May 2016, Wipro announced that it has been selected by Vestas Wind Systems A/S as its strategic IT partner for Workplace Services. Headquartered in Aarhus, Denmark, Vestas is a global energy company that delivers best-in-class wind energy solutions in over 75 countries. Vestas' core business comprises of the development, manufacturing, sale and maintenance of wind power plants. On 25 May 2016, Wipro announced the launch of Total Customer Centricity (TCC), a Master Data Management solution for the manufacturing sector. Total Customer Centricity (TCC) will enable global manufacturers to transition from a product-centric to a customer-centric approach. TCC will also provide visibility into the relationships between devices, locations and customers. The solution will allow manufacturers across the globe capture a comprehensive, single view of each of their customers and products. On 8 June 2016, Wipro announced a partnership with Mountain View based Authentise Inc, a leading provider of 3D printing technologies and consulting services. This strategic partnership between Wipro and Authentise will enable adoption of additive manufacturing among the Global 2,000 companies. On 15 June 2016, Wipro announced the launch of its analytics solution, Data Discovery Platform. The solution provides pertinent business insights across the value chain of an industry through pre-defined 'apps'. Wipro's Data Discovery Platform will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation. On 20 July 2016, The Greater Toronto Airports Authority (GTAA) announced that it has awarded a seven-year strategic IT and Business transformation contract to Wipro. GTAA operates Toronto Pearson International Airport, the largest airport in Canada and the second largest in North America in terms of international traffic. On 7 September 2016, Wipro announced that it has won an IT contract from NSB Group, one of Norway's largest transportation groups. Headquartered in Oslo, NSB has extensive passenger transportation operations by way of the rail and bus, freight by rail, property management and development and train maintenance segments. As part of the three-year agreement, Wipro will implement its Boundaryless Datacenter (BLDC) and LiVE Workspace solutions and utilize its next-generation delivery framework ServiceNXT to deliver services which will help NSB variablise its IT operations. On 12 September 2016, Wipro announced a partnership with Israel-based IntSights Cyber Intelligence Ltd to bolster and expand its 'Threat Intelligence as- a- Service offering.' Intsights has developed a sophisticated cyber threat intelligence platform which provides advance warning and customized insights about potential cyberattacks and recommends remedial action. The company monitors the open, deep and dark web, including cyber-crime forums and social media platforms for signs of targeted threats against enterprises and provides alerts in near real-time to enable timely response and mitigation. Wipro's 'Threat Intelligence as a Service' offering delivers in-depth analysis of cyber threats originating from in-house sources and third-party sources or threat actors and provides enterprises with accurate cyber intelligence and incident mitigation strategies. On 12 September 2016, Wipro announced a partnership with Vectra Networks, a Silicon Valley-based cybersecurity company that provides automated threat management solutions for real-time detection of in-progress cyber attacks. Wipro will leverage the Vectra automated threat management platform built with artificial intelligence-based on machine learning and behavioral analytics to detect attacker behaviors and user anomalies in the network. On 15 September 2016, Wipro and Reltio, an enterprise data-driven applications and modern data management Platform as a Service (PaaS) company, announced a partnership to develop faster and cost effective Master Data Management (MDM) solutions. This partnership will help Reltio and Wipro's clients bridge the gap between data and insights by boosting the reliability of information, while ensuring users get access to relevant data. On 20 September 2016, Wipro and Witbe, a leading innovator in the field of Test Automation and Services Quality of Experience (QoE) Monitoring Robots for Broadband, Voice and TV Triple-Play monitoring, unveiled their global partnership. This partnership is of strategic importance to Wipro, and will offer integrated test automation and video services monitoring solutions for customer deployments across set top box, mobile platforms and other handheld devices. These solutions will benefit new and existing customers of Wipro and Witbe including semiconductor players, Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs) and service providers in the media industry. On 13 October 2016, Wipro announced the launch of Treasury DNA Decisions and Analytics platform that will digitally enable global treasuries using cloud technologies. Treasury DNA is powered by BELLIN's tm5, a leading treasury management systems provider. Treasury DNA is a next generation platform with a comprehensive suite of technology services delivered in a subscription-based model, and is ideal for global treasurers who aspire to be future-ready. The platform aims to transform and enhance treasury processes and operations within an enterprise. It provides real-time, integrated data and actionable treasury insights to power financial decision making. On 20 October 2016, Wipro announced that it has signed a definitive agreement to acquire Appirio, a global cloud services company that creates next generation worker and customer experiences, for a purchase consideration of USD 500 million. Established in 2006, Appirio is headquartered in Indianapolis with offices in San Francisco, Dublin, London, Jaipur, and Tokyo and has 1,250 employees worldwide. Appirio is a trusted partner to some of the world's leading brands, including Stryker, Robert Half, Johnson Controls, Cardinal Health, Coca-Cola, eBay, Facebook, Home Depot, and Sony PlayStation. Once completed, Wipro's acquisition of Appirio will create one of the world's largest cloud transformation practices, a game changer in today's as-a-service and digital economy. Appirio also brings to Wipro, Topcoder, a leading crowdsourcing marketplace connecting over a million designers, developers and data scientists around the world with customers. On 27 October 2016, Wipro announced that it has won a five-year engagement with Speciality Restaurants Ltd., a leading fine dining operator in India with 107 restaurants spread across India, Bangladesh, Tanzania and Doha in Qatar. Wipro will offer energy management services to Speciality Restaurants, which would help pare energy and operational costs. The EcoEnergy business of Wipro will implement its Managed Restaurant Energy Services (MRES) program across Speciality Restaurants' full service restaurants. On 7 November 2016, Wipro announced the launch of its Open Banking API (Application Programming Interface) Platform. The Open API platform will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardization of APIs. Open Banking is an emerging trend in financial technology that uses Open APIs to enable third party developers build applications and services around a financial institution. It facilitates greater financial transparency and helps financial institutions innovate and create new revenue models. Open Banking has been gaining significant momentum across the globe, especially in the European banking industry - driven by changing regulatory mandates. Revised Directive on Payment Services (PSD2) is one such regulatory mandate that aims to standardize, integrate and improve payment efficiency in the European Union. On 15 November 2016, Wipro and ASG Technologies, a global provider of information access, management and control solutions, announced an expanded partnership that integrates the offerings of Wipro's Data Management Centre of Excellence (CoE) with ASG's Enterprise Data Intelligence solution to improve compliance for the global financial services companies. On 1 December 2016, Wipro announced that it has been awarded a three-year IT infrastructure services and digital transformation contract by Woodside. Woodside is an Australian oil and gas company with a global presence, and is recognised for its world-class capabilities as an explorer, a developer, a producer and supplier. Leveraging its ServiceNXT platform, Wipro will provide Managed Services for IT Infrastructure across Woodside's global portfolio, with a focus on the larger sites of Perth and Karratha in Australia. The engagement includes delivering infrastructure services to offshore maritime facilities and potential exploration sites. On 25 January 2017, Wipro signed an agreement to acquire InfoSERVER S.A. for BRL 27.6 Million (USD 8.7 million). InfoSERVER, an IT services provider, which is focussed on the Brazilian market, provides custom application development and software deployment services. Two-decade old InfoSERVER, which counts some of the largest Brazilian banks as its clients, will help Wipro in expanding its presence in the country's highly traditional and competitive Banking, Financial Services & Insurance market besides adding invaluable domain and process knowledge on the sector. On 30 January 2017, Wipro announced a strategic partnership with Tradeshift, the fastest growing business commerce platform, to offer cloud-based Source-to-Pay (S2P) Business Process as a Service (BPaaS) solution. The partnership aims to help customers accelerate digitalization and automation in their procurement, finance and accounting functions. Headquartered in San Francisco, Tradeshift offers a business commerce platform to digitally connect companies through cloud-based, collaborative accounts payable and procurement automation. Along with the partnership agreement, Wipro Ventures, the strategic investment arm of Wipro, has made an investment in Tradeshift to strengthen the partnership and further develop Tradeshift's innovative applications, trade financing solutions platform and business-to-business marketplace ecosystem. On 31 January 2017, Wipro Gallagher Solutions (WGS), an end-to-end provider of lending products and services, announced a partnership with Veri-Tax LLC, a leading national verification specialist, to streamline verification solutions. The partnership between Wipro Gallagher Solutions, the provider of the NetOxygen Loan Origination System (LOS) and Veri-Tax LLC will help lenders mitigate identity fraud, accelerate processing, and improve the customer's experience seamlessly and electronically. On 1 February 2017, Wipro announced that it has joined the Industrial Internet Consortium (IIC), the global, member-supported organization that promotes the accelerated growth of the Industrial Internet of Things (IIoT). This membership provides Wipro opportunities to engage and innovate with multi-partner testbeds and adopt best practices to drive digital transformation for customers. On 14 February 2017, Wipro announced that it is delivering analytics-based insights for specific industries with the Data Discovery Platform, its newest big data analytics-as-a-service solution. Built with IBM BigInsights and IBM dashDB and developed on Bluemix, IBM's cloud platform, the solution accelerates insight-driven decision making through pre-built applications for specific industries, such as banking and financial services, retail, energy, education and manufacturing. On 15 February 2017, Wipro announced that its Digital-TV (DTV) Middleware Solution, which facilitates In-Car TV reception systems, has been customized for the Japanese automotive market. Wipro's DTV Middleware offering provides a turnkey solution for global Original Equipment Manufacturers (OEMs) of automotive infotainment systems to enable broadcast TV reception within vehicles. On 28 February 2017, Wipro announced a new IoT-based solution for wind parks and wind turbine manufacturers that leverages the Hewlett Packard Enterprise (HPE) Windpark Manager 4.0. The solution manages wind turbines and associated IT infrastructure, including IT applications and security aspects to optimize operational expenditure, generate new revenue streams, and future-proof a customer's business. On 8 March 2017, Wipro announced that it has become a member of the LoRa Alliance, one of the fastest growing Internet of Things (IoT) alliances with over 400 members. This membership will help Wipro accelerate its Internet of Things (IoT) solution deployments, using Low Power Wide Area Networks (LPWAN) technology for customers across industry sectors such as energy, utilities, natural resources, smart cities, ports, and logistics. On 14 March 2017, Wipro announced that it has won a twelve-year contract from NHS Scotland to build a next generation Enterprise Master Patient Index (eMPI) solution. This solution, which will be hosted in Scotland, will help NHS Scotland transition from its current legacy Community Health Index System (CHI) to offer cost effective, efficient, paperless and patient-friendly healthcare services in Scotland. NHS Scotland is the region's National Health Board working towards reducing health inequalities and improving health conditions. On 15 March 2017, Wipro announced its partnership with Harte Hanks to offer marketing technology services. As part of the multi-year engagement, Wipro will upgrade Harte Hank's data analytics and applications platform, create a scalable operating model and simplify IT related processes for the company. Harte Hanks is an American marketing services company specializing in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. On 15 March 2017, Wipro announced the opening of an Automotive Engineering Center (AEC) in Detroit. The center aims to drive innovation in connected vehicle concepts - design, product engineering, digital customer-vehicle experiences, artificial intelligence, and sensors-driven advanced vehicle data analytics. The center will serve as a hub to support the automotive engineering and IT requirements of Original Equipment Manufacturers (OEMs) and tier-I suppliers, based in North America. On 4 May 2017, Wipro announced that it has joined the Enterprise Ethereum Alliance (EEA) as a founding member. EEA is a collaboration of enterprises to promote, develop and implement enterprise grade Ethereum-based blockchain applications across industries for specific business use cases.On 17 May 2017, Wipro announced that it has developed nine blockchain-based solutions for the Banking Financial Services and Insurance (BFSI), Manufacturing, Retail and Consumer Goods industries. Defined, designed and co-developed with clients in Wipro's Blockchain Innovation Lab, these solutions demonstrate what block chain can accomplish for global enterprises. On 14 June 2017, Wipro announced that it has won an IT Applications Managed Services engagement with Valmet, a leading global developer and supplier of technologies, automation and services for the pulp, paper and energy industries. Valmet is headquartered in Finland. As part of the multi-year engagement, Wipro will deliver the maintenance and support of the new ERP platform in a Managed Services model covering all global locations in which Valmet operates. The construct of the contract is geared towards bringing cost efficiencies and enabling enhanced optimization in ongoing support. Additionally, Wipro will also support the end to end testing activities around the implementation and rollout of the new ERP platform. On 15 June 2017, Wipro announced that it has achieved Amazon Web Services (AWS) Service Delivery status for AWS Service Catalog. With this status, Wipro's capabilities help clients build the AWS Service Catalog to enable self-service discovery, maintain controls and centrally manage their enterprise cloud services. On 22 June 2017, Wipro announced a collaboration with Red Hat, the world's leading provider of open source solutions, to set up a cloud application factory designed to offer developers and IT teams a repeatable and rapid methodology for application modernization across public, private, and hybrid clouds. Wipro's cloud application factory will have a dedicated services team that can help drive the strategy, design, and delivery of next generation applications globally, using Red Hat OpenShift Container Platform, Red Hat's award-winning container application platform. On 28 June 2017, Wipro announced that locals now form over 50% of its US workforce. The company has been focused on creating jobs in the US underscoring its strategy to build a deep reservoir of local talent based out of centers close to its clients. During the past decade, Wipro has invested over USD 2 billion in the United States. On 5 July 2017, Wipro and Ramot, the Business Engagement Center at Tel Aviv University (TAU), announced a partnership for joint research in emerging technologies. TAU is Israel's largest institution of higher learning which is home to over 30,000 students studying in nine faculties, over 125 schools and departments across the spectrum of sciences, engineering, humanities and the arts. The partnership envisages the creation of joint research capability at TAU, supported by Wipro to pursue core as well as applied research in fast-developing technologies in the Artificial Intelligence (AI) space. Wipro's Board of Directors at its meeting held on 20 July 2017 approved a proposal to buyback up to 34.37 crore equity shares of the company for an aggregate amount not exceeding Rs 11000 crore, being 7.06% of the total paid up equity share capital, at Rs 320 per share on a proportionate basis under the tender offer route. On 25 July 2017, Wipro announced a partnership with Hewlett Packard Enterprise (HPE) to offer IT infrastructure solutions in a consumption-based or pay-per-use business model for enterprises. This model for IT Infrastructure procurement and provisioning will be offered to both Wipro and HPE's customers, globally. As a part of this alliance, Wipro will leverage HPE Flexible Capacity to offer flexible and scalable IT infrastructure services in a consumption-based IT model, accelerate growth and enable digital transformation for its customers. HPE's scalable consumption-based IT model of provisioning and procurement coupled with Wipro's industry proven end-to-end suite of IT Infrastructure services, and global delivery capabilities will enhance the security, agility, scalability of customers' IT infrastructure, and help them ascertain and regulate the public cloud economics of their data centers. On 1 August 2017, Wipro announced the launch of a multi-million dollar Silicon Valley Innovation Center in Mountain View, California. This state-of-the-art R&D and incubation hub is designed to develop and showcase next-generation technologies and solutions for enterprises. On 2 August 2017, Wipro and Tricentis, a software testing company and a thought leader in the automated testing space, announced a partnership for Quality Engineering. This partnership with Tricentis will strengthen Wipro's Quality Engineering and Testing Services capabilities, by integrating Tricentis Tosca, a continuous testing platform, with Wipro AssureNXT, a managed services QA platform combined with the capabilities of Wipro HOLMES Artificial Intelligence Platform as a part of the broader automaton ecosystem. On 7 August 2017, Wipro announced the availability of Data Discovery Platform, its big data analytics-as-a-service solution on Microsoft Azure. The solution accelerates insight-driven decision making through pre-built applications for specific industries, such as banking and financial services, retail, energy, education and manufacturing. Wipro's Data Discovery Platform will enable businesses to embark on an analytics journey with value added services of process simplification and business transformation to bridge the gap between the insights required by business and the information that is available. Wipro Data Discovery Platform is available in an outcome-based pay-per-insight' cloud delivery model. On 8 August 2017, Wipro and Excelfore, a leading provider of middleware solutions for Smart Mobility Networks, announced a global partnership to offer secure connectivity solutions for next generation smart and autonomous vehicles. This partnership combines Excelfore's Smart Mobility Networks solutions with Wipro's global systems integration and managed services expertise to enable connected car solutions for automotive original equipment manufacturers (OEMs) and Tier 1 equipment makers. On 16 August 2017, Wipro announced that it has won a five-year IT infrastructure and applications managed services engagement with Grameenphone (GP), a leading telecom operator in Bangladesh. Wipro will be managing the complete IT landscape for GP, leveraging Wipro HOLMES. On 4 September 2017, Wipro announced the launch of its newest digital pod in Edinburgh, Scotland, deepening its commitment to offer digital services at close proximity to its UK and European customers. The Edinburgh Pod is purpose-built for Wipro's digital strategy, design and engineering teams to work in a collaborative and adaptive workspace, along with clients. Digital pods allow teams to work with the necessary autonomy to facilitate speed, continually evaluating progress with user research and technical performance data. On 7 September 2017, Wipro announced that it has won a five-year IT applications management contract from Outokumpu. Headquartered in Finland, Outokumpu is a global leader in stainless steel. As part of the five-year contract, Wipro will provide applications management services for Outokumpu's SAP landscape along with legacy applications support to cover Outokumpu locations globally. On 12 September 2017, Wipro announced the launch of an Automotive Center of Excellence (CoE) in Timisoara, Romania. This CoE will help Wipro deliver innovative embedded software solutions for its global and European clients. This engineering center in Romania is part of Wipro's global delivery network that offers best-in-class engineering and IT services. On 13 September 2017, Wipro announced that it has joined Hyperledger to design and develop open source-based blockchain solutions for enterprise-grade blockchain deployments. Hyperledger is a global open source collaborative effort created to advance cross-industry blockchain technologies across sectors such as finance, banking, Internet of Things, supply chain, manufacturing and technology. On 14 September 2017, McLaren Technology Group announced that Wipro has become the official technology provider to help drive digitalisation across its businesses. Wipro will assist McLaren with achieving its recently defined IT strategy, focusing on providing next-generation differentiated IT services to its business divisions with an emphasis on agility and improved reliability. On 14 September 2017, Wipro announced the launch of automation services powered by its HOLMES artificial intelligence platform. Wipro's automation services are designed to deliver cognitive enhancements to user experience and productivity with a measurably improved Business Value Index' for each level of a business process. On 15 September 2017, Wipro announced that it has been awarded a seven-year contract by innogy SE to manage its data center and cloud services. innogy SE is an established European energy company. As part of the agreement signed in November 2016, innogy transferred its twin data centers in Neurath und Niederaussen in Germany to Wipro on 1 February 2017. The subsequent transition phase ran smoothly. Wipro will leverage its BoundaryLess Data Center offering to help innogy drive a transformation program to rationalize, virtualize and consolidate its IT infrastructure. On 15 September 2017, Wipro announced plans to deliver the Wipro BoundaryLess Data Center (BLDC) solution built on Hewlett Packard Enterprise (HPE) ProLiant for Microsoft Azure Stack to help customers expand their infrastructure capabilities beyond the traditional walls of the enterprise datacenter. This joint offering will help Wipro's customers benefit from an economic cloud model, in a hybrid environment across both on-premises data centers and the Azure public cloud. On 26 September 2017, Wipro and CloudGenix Inc., a leading provider of Software-Defined Wide Area Networking (SD-WAN) products, announced a partnership to offer open and managed SD-WAN services. Termed as WANFreedom, the service allows enterprise customers to rapidly deploy cloud, SaaS (Software as a Service) and data center applications over any combination of MPLS (Multiprotocol Label Switching), Internet broadband and LTE (Long Term Evolution) networks, thereby enabling a rich user experience and IT infrastructure cost optimization. On 5 October 2017, Wipro Digital announced that it has signed a definitive agreement to acquire Cooper, an award-winning design and business strategy consultancy. Wipro Digital is the digital business unit of Wipro. Cooper will become part of Designit, Wipro Digital's strategic design arm, further strengthening its design and innovation capabilities, expanding its reach in North America and adding capabilities in professional design education. On 6 November 2017, Wipro announced the launch of industry-specific solutions on SAP Leonardo. The first set of solutions will focus on the utilities industry, while the next will cover the consumer and manufacturing industries. SAP Leonardo is a holistic digital innovation system that comprehensively integrates future-facing technologies and capabilities into SAP Cloud Platform. As part of the partnership, Wipro will develop industry-specific analytics 'apps' on its insights-as-a-service solution, Data Discovery Platform, leveraging SAP Leonardo analytics, Big Data and data intelligence capabilities. On 1 December 2017, Wipro announced that its long-time customer National Grid US has filed lawsuit against the company in U.S. District Court for the Eastern District of New York seeking damages amounting to $140 million plus additional costs related to the project. The lawsuit relates to an ERP implementation project which began in 2009. Wipro joined the project in 2010, and the post-Go-live process was completed in 2014. Wipro said National Grid's claims are baseless and that the company will vigorously contest the allegations in court. On 15 December 2017, Wipro announced a partnership with Headspin, a San Francisco-based powerful, easy-to-use mobile experience platform, to offer next-generation mobility quality engineering and testing solutions on global mobile networks. This partnership will leverage Headspin's network of 22,000 mobile devices deployed in carrier networks across 150 locations and Wipro's industry leading quality assurance capabilities to bring significant value to customers by validating their mobile applications, devices and networks under real life conditions. The joint offering will enable continuous monitoring of applications, identification of performance bottlenecks and rectification of inefficient content delivery to ensure a seamless application experience for end users, across geographies. Wipro Ventures, the strategic investment arm of Wipro that is focused on investing in early- to mid-stage startups, made an investment in Headspin in October 2017. On 23 January 2018, Wipro announced that it has won a multi-year business process services engagement with Nilfisk. Headquartered in Denmark, Nilfisk is a leading global supplier of professional cleaning equipment and solutions. As part of this contract which was signed in June 2017, Wipro will leverage its global delivery network to implement business process services for Nilfisk in the areas of Finance and Accounting (F&A), Marketing services as well as select IT services in more than 45 client locations, across the world. Wipro will support Nilfisk in consolidating its back office Finance & Accounting operations, being delivered from globally diverse locations. On 24 January 2018, Wipro announced that its wholly owned subsidiary Wipro LLC will invest $9.9 million for a minority stake in Harte Hanks, a US-based global marketing services company specializing in omni-channel marketing solutions including consulting, strategic assessment, data, analytics, digital, social, mobile, print, direct mail and contact center. Both companies will expand their existing partnership to offer end-to-end marketing technology services to customers. On 1 March 2018, Wipro announced that it has signed a definitive agreement to acquire a minority stake in US based Denim Group, a leading independent application security firm. This partnership will bring together Wipro's strong digital transformation and cybersecurity capabilities with Denim Group's application security consulting, assessments and implementation services including DevSecOps and secure development training services. On 14 March 2018, Wipro announced that it has signed a definitive agreement to divest its hosted data center services business to Ensono, a leading hybrid IT services provider, for USD 405 million. Wipro and Ensono have also signed a long-term partnership agreement to jointly address the hybrid IT requirements of Wipro's new and existing enterprise customers. As part of the agreement, Wipro will make a strategic investment of USD 55 million in Ensono's combined entity. On 14 March 2018, Wipro and Trintech, a leading global provider of integrated, cloud-based Record to Report (R2R) finance software solutions for the office of finance, announced a strategic partnership to deliver digital solutions that help simplify and automate business finance functions at enterprises. As a strategic partner, Wipro will offer its clients Trintech's portfolio of financial solutions, which encompass high-volume transaction matching, balance sheet and intercompany reconciliations, journal entries, financial close task management, disclosure and fiduciary reporting, and compliance management. Wipro will work further with its clients to complement Trintech's portfolio with its strong consulting and execution capabilities in three key areas: collaborating with Wipro's AI & Automation platform HOLMESTM to extend the footprint of Trintech's Risk Intelligent RPATM financial solution; planning and delivering world-class financial transformation along with integration services with clients' systems; and post-implementation support utilizing Wipro's global delivery model. On 26 March 2018, Wipro announced an expanded global relationship with Adobe to create, build and run digital marketing solutions and campaigns for their clients, across the globe. As a part of this alliance, Wipro will embed Adobe's design and prototyping software, Adobe XD CC, the all-in-one UX/UI solution for designing and prototyping mobile apps and websites, into its Digital Experience Platform. On 27 March 2018, Wipro unveiled its Texas Technology Center in Plano, Texas. The new facility will primarily house Wipro's US cyber security center, as well as serve as a hub for advanced analytics. The state-of-the-art 45,000-square feet center is designed to promote collaboration, spur eativity and enhance productivity. In addition to the newly-launched Texas Technology Center in Plano, Wipro has major operations in Dallas and Houston, in Texas. The company plans to ramp up its headcount in Texas to 2,000 over the next few years from 1,400 now.

Wipro Ltd Directors Reports

On behalf of the Board of Directors (the "Board") of the Company, it gives me immense pleasure to present the 73rd Board's Report, along with the Balance Sheet, Profit and Loss account and Cash Flow statements, for the financial year ended March 31, 2019.

I. Financial Performance

The standalone and consolidated financial statements for the financial year ended March 31, 2019, forming part of this Annual Report, have been prepared in accordance with the Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs. On a consolidated basis, our sales increased to र 585,845 million for the current year as against र 544,871 million in the previous year, recording an increase of 7.52%. Our net profits increased to र 90,179 million for the current year as against र 80,031 million in the previous year, recording an increase of 12.68%.

On a standalone basis, our sales increased to र 480,298 million for the current year as against र 447,100 million in the previous year, recording an increase of 7.43%. Our net profits declined to र 76,140 million in the current year as against र 77,228 million in the previous year, recording a decline of 1.41%.

Key highlights of financial performance of your Company for the financial year 2018-19 are provided below: ( र in millions)

Standalone Consolidated
2018-19 2017-18 2018-19 2017-18
Sales 480,298 447,100 585,845 544,871
Other Operating Income 940 - 4,344 -
Other Income 25,686 24,796 26,138 25,487
Profit before Tax 98,705 100,343 115,422 102,422
Provision for Tax 22,565 23,115 25,243 22,391
Net profit for the year 76,140 77,228 90,179 80,031
Other comprehensive (loss)/income for the year 1,246 (7,300) 800 (3,127)
Total comprehensive income for the year 77,386 69,928 90,979 76,094
Total comprehensive income for the period attributable to:
Minority Interest - - 251 19
Equity holders 77,386 69,928 90,728 76,885

 

Standalone Consolidated
2018-19 2017-18 2018-19 2017-18
Appropriations
Dividend 4,524 4,525 4,504 4,499
Corporate tax on distribution of dividend 930 921 930 921
EPS
- Basic 12.67 16.26 14.99 16.85
- Diluted 12.64 16.23 14.95 16.82

Dividend

Pursuant to Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"), the Board has approved and adopted a Dividend Distribution Policy. The policy details various considerations based on which the Board may recommend or declare Dividend, dividend track record, usage of retained earnings for corporate actions, etc. The policy is available on the Company's website at https://www.wipro. com/investors/corporate-governance. Pursuant to the approval of the Board of Directors on January 18, 2019, your Company paid an interim dividend of र 1/- per equity share of face value of र 2/- each, to shareholders who were on the register of members as on January 30, 2019, being the record date fixed for this purpose. The Board has not recommended a final dividend and the interim dividend of र 1/- declared by the Board in January 2019 shall be considered as the final dividend for the financial year 2018-19. Thus, the total dividend for the financial year 2018-19 remains1 per equity share.

Your Company is in compliance with its Dividend Distribution policy as approved by the Board.

Issue of Bonus Equity Shares

The Board of Directors at their meeting held on January 18, 2019, recommended issue of bonus equity shares, in the proportion of 1:3, i.e. 1 (One) bonus equity share of2/- each for every 3 (three) fully paid-up equity shares held (including American Depository Shares ("ADS")). The said bonus issue was approved by the Members of the Company vide resolution dated February 22, 2019 passed through postal ballot/e-voting, subsequent to which, on

March 8, 2019, 1,508,469,180 bonus shares were allotted to the Members whose names appeared on the register of members as on March 7, 2019, being the record date fixed for this purpose.

As part of the aforesaid allotment, 106,273 bonus equity shares representing fractional entitlement(s) of eligible Members were consolidated and allotted to the trustee appointed by the Board. Subsequently, the trustee sold such equity shares at the prevailing market price and distributed the net sale proceeds, after adjusting the costs and expenses in respect thereof, among the eligible Members in proportion to their respective fractional entitlements.

Buyback of Equity Shares

On April 16, 2019, the Board approved a proposal to buyback up to 323,076,923 (Thirty Two Crores Thirty Lakhs Seventy Six Thousand Nine Hundred and Twenty Three) equity shares of the Company for an aggregate amount not exceeding र 105,000,000,000/- (Rupees Ten Thousand Five Hundred Crores only), being 23.03% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone balance sheet as at March 31, 2019, at a price of र 325/- (Rupees Three Hundred and Twenty Five) per equity share. Subsequently, vide resolution dated June 1, 2019, the shareholders approved the buyback of equity shares through postal ballot/e-voting. The buyback is proposed to be made from all the existing Members of the Company as on June 21, 2019, being the record date for this purpose, on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 and the Companies Act, 2013 and the rules made thereunder.

Share Capital

During the financial year 2018-19, your Company's authorized capital was increased from र 11,265,000,000/- (Rupees One Thousand One Hundred and Twenty Six Crores and Fifty Lakhs) to र 25,274,000,000 /- (Rupees Two Thousand Five Hundred and Twenty Seven Crores and Forty Lakhs) by creation of additional 7,004,500,000 (Seven Hundred Crores and Forty Five Lakhs) equity shares of र 2/- (Rupees Two each). The said increase in authorized share capital was pursuant to approval of shareholders through postal ballot/e-voting dated February 22, 2019 and also as per the terms of the Scheme (as defined below) approved by the Hon'ble National Company Law Tribunal ("NCLT"), Bengaluru Bench, on account of clubbing the authorized share capital of Appirio India Cloud Solutions Private Limited with and into the authorized capital of your Company.

During the year 2018-19, the Company allotted 1,681,717 equity shares and transferred 2,599,183 equity shares of र 2/- each from Wipro Equity Reward Trust, pursuant to exercise of stock options by eligible employees and allotted 1,508,469,180 equity shares of र 2/- each as bonus equity shares on March 8, 2019 by capitalization of sums standing to the credit of the free reserves and/or the securities premium account and/or the capital redemption reserve account of the Company. Consequently, the paid-up equity share capital of the Company as at March 31, 2019 stood at र 12,067,870,776/- consisting of 6,033,935,388 equity shares of र 2/- each.

During the year under review, the Company has not issued shares with differential voting rights and sweat equity shares.

Transfer to Reserves

Appropriations to general reserve for the financial year ended March 31, 2019 as per standalone and consolidated financial statements are as under: ( र In millions)

Standalone Consolidated
Net profit for the year 76,140 90,037
Balance of Reserve at the beginning of the year 413,578 470,215
Adjustment on adoption of Ind AS 115 (1,605) (2,279)
Adjustment on account of merger (975) -
Transfer to General Reserve - -
Balance of Reserve at the end of the year 481,852 552,158

Subsidiary Companies

In accordance with Section 129(3) of the Companies Act, 2013, a statement containing salient features of the financial statements of the subsidiary companies in Form AOC-1 is provided at page 285 of this Annual Report. The statement also provides details of performance and financial position of each of the subsidiaries. Audited financial statements together with related information and other reports of each of the subsidiary companies have also been placed on the website of the Company at www.wipro.com.

During the financial year 2018-19, your Company invested an aggregate of र 36,373 million in its direct subsidiaries. Apart from this, your Company funded its subsidiaries, from time to time, as per the fund requirements, through loans, guarantees and other means to meet working capital requirements.

During the financial year 2018-19, your Company has carried out restructuring of its following subsidiaries: a) Merger of Wipro Technologies Austria GmbH, Wipro Information Technology Austria GmbH, NewLogic Technologies SARL and Appirio India Cloud Solutions Private Limited (wholly owned subsidiaries) with and into Wipro Limited pursuant to order dated March 29, 2019 passed by NCLT approving the scheme of amalgamation ("Scheme") for the aforesaid merger. As per the said Scheme, the appointed date is April 1, 2018. b) Liquidation of Appirio Singapore Pte Ltd and Appirio GmbH. c) Merger of Cellent Mittelstandsberatung GmbH with and into Cellent GmbH, Germany. d) Reduction of the Company's equity holding in WAISL Limited (formerly known as Wipro Airport IT Services Limited), which was a joint venture between Wipro Limited and Delhi International Airport Limited, from 74% to 11%, by selling the stake to Antariksh Softtech Private Limited on April 5, 2018. e) Setting up of a new subsidiary namely Wipro IT Services S.R.L in Romania. f) Setting up of a new subsidiary namely Wipro US Foundation in USA.

Transfer to Investor Education and Protection Fund a) As required under the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("IEPF Rules"), during the year 2018-19, unclaimed dividend for financial years 2010-11 and 2011-12 of7,929,792/- and र 4,714,164/- respectively, were transferred to the Investor Education and Protection Fund ("IEPF"). b) Pursuant to the provisions of Section 124(6) of the Companies Act, 2013 and the IEPF Rules, during the year 2018-19, 60,958 equity shares in respect of which dividend has not been claimed for the final dividend declared in financial year 2010-11 and interim dividend declared in financial year 2011-12 were transferred to the IEPF authority. c) Pursuant to Rule 6(8) of the IEPF Rules, under the bonus issue, 426,445 equity shares were allotted to the IEPF authority based on their shareholding as on the record date of March 7, 2019 and an amount of102,485 /- pertaining to sale proceeds of fractional bonus shares were transferred to the IEPF.

Particulars of Loans, Advances, Guarantees and Investments

Pursuant to Section 186 of Companies Act, 2013 and Schedule V of the Listing Regulations, disclosure on particulars relating to loans, advances, guarantees and investments are provided as part of the financial statements.

Deposits

Your Company has not accepted any deposits from public and as such, no amount on account of principal or interest on public deposits was outstanding as on the date of the balance sheet.

II. Business

Your Company is a leading information technology, consulting and business process services company. Your Company's range of services includes digital strategy, customer-centric design, consulting, infrastructure services, business process services, research and development, cloud, mobility and advanced analytics and product engineering. Your Company offers its customers a variety of commercial models including time and material, fixed price, capacity based, pay-per-use, as-a-service and outcome based models. Your Company offers all of these services and models globally by leveraging its proprietary products, platforms, partnerships and solutions, including state of the art automation technologies such as cognitive intelligence tool, Wipro HOLMES Artificial Intelligence PlatformTM ("Wipro HOLMESTM").

The vision for your Company's business is "to earn our clients' trust and maximize value of their businesses by helping them in their journey to ‘re-invent' their business and operating models with its ‘Digital' first approach and best in class execution". To realize its vision and strategy, your Company is prioritizing and investing to drive growth in key strategic fields such as digital, cloud, cybersecurity and industrial and engineering services through its "Big Bet" program. For example, your Company's "Big Bet" in each of digital and cloud are at the heart of its Business Re-imagination and Engineering Transformation and Modernization pillars, while the "Big Bet" in industrial and engineering services is central to its Connected Intelligence pillar and the "Big Bet" in cyber security is central to its Trust pillar.

Your Company provides its clients with competitive advantages by applying various emerging technologies and ensuring cyber resilience and cyber assurance. Your Company works with its clients not only to enable their digital future, but also to drive hyper efficiencies across their technology infrastructure, applications and core operations, enabling them to achieve cost leadership in their businesses. Going forward, digital enterprises will increasingly require partners, such as Wipro, who are able to bring capabilities that span consultancy, design, engineering, systems integration and operations to enable them to achieve digital transformation. These combined capabilities will only be effective if delivered in the context of the relevant industry or domain. Hence, it is critical to your Company that it provides strong domain expertise along with "Digital". Your Company has invested significantly in building domain expertise and will continue to strengthen its domain capabilities. Your Company's IT Products segment provides a range of third-party IT products, which allows it to offer comprehensive IT system integration services. These products include computing, platforms and storage, networking solutions, enterprise information security and software products, including databases and operating systems. Your Company continues to focus on being a system integrator of choice where it provides IT Products as a complement to its IT Services offerings rather than sell standalone IT Products.

Sector Outlook_

According to the Strategic Review 2019 published by NASSCOM (the "NASSCOM Report"), "Digital" continues to drive growth (more than 30% of growth in fiscal year 2019) and now contributes $33 billion to the overall IT industry in India. Technologies such as industrial automation, robotics, cloud, Internet of things ("IoT"), augmented reality ("AR")/virtual reality ("VR") and blockchain continue to fuel growth. Global IT service providers offer a range of end–to-end software development, digital services, IT business solutions, research and development services, technology infrastructure services, business process services, consulting and related support functions. According to the NASSCOM Report, IT export revenues from India grew by 8.3% to an estimated $136 billion in fiscal year 2019.

Acquisitions, Divestments and Investments

Acquisitions are a key enabler for driving capability to build industry domain, focus on key strategic areas, strengthen presence in emerging technology areas including Digital, and increase market footprint in newer markets. Your Company focuses on opportunities where it can further develop its domain expertise, specific skill sets and its global delivery model to maximize service and product enhancements and higher margins.

During July 2018, your Company has entered into a strategic partnership arrangement with Alight Solutions, a leader in technology-enabled health, wealth, HR and finance solutions, which will reshape the HR services industry by providing Alight's clients with the breadth and depth of capabilities from the two industry-leading organizations. Your Company has also divested its Workday and Cornerstone OnDemand business to Alight Solutions LLC.

Further, your Company completed divestment of its data center services business to Ensono Holdings, LLC, a leading hybrid IT services provider, consisting of Wipro Data Centre and Cloud Services, Inc. (USA) and data center services business in certain other countries.

The strategic investment arm of your Company, Wipro Ventures is a $100 million fund that invests in early to mid-stage enterprise software startups. As of March 31, 2019, Wipro Ventures has active investments in and partnered with 13 startups in the following areas – AI (Avaamo, Inc., Vicarious FPC, Inc.), Business Commerce (Tradeshift, Inc.), Cybersecurity (IntSights Cyber Intelligence Ltd., Vectra Networks, Inc., CyCognito), Data Management (Imanis Data, Inc.), Industrial IoT (Altizon Systems Private Ltd.), Fraud & Risk Mitigation (Emailage Corp.), Testing Automation (Headspin, Inc., Tricentis GmbH) and Cloud Infrastructure (Cloudgenix, Moogsoft). In addition to direct investments in emerging startups, Wipro Ventures had invested in four enterprise-focused venture funds: TLV Partners, WorkBench Ventures, Glilot Capital Partners and Boldstart Ventures. During the year ended March 31, 2019, one of our portfolio companies, Demisto, was acquired.

Management Discussion and Analysis Report

In terms of Regulation 34 of the Listing Regulations and SEBI circular SEBI/HO/CFD/CMD/CIR/P/2017/10 dated February 6, 2017, your Company has adopted salient features of Integrated Reporting prescribed by the International Integrated Reporting Council (‘IIRC') as part of its Management Discussion and Analysis report ("MD&A Report"). The MD&A report, capturing your Company's performance, industry trends and other material changes with respect to your Company and its subsidiaries, wherever applicable, are presented from pages 18 to 64 of this Annual Report. The MD&A Report provides a consolidated perspective of economic, social and environmental aspects material to its strategy and its ability to create and sustain value to your Company's key stakeholders and includes aspects of reporting as required by Regulation 34 of the Listing Regulations on Business Responsibility Report. Statutory section of Business Responsibility Report is provided from pages 346 to 352 of this Annual Report.

Key Awards and Recognitions

Your Company is one of the most admired and recognized companies in the IT industry. Your Company won several awards and accolades, out of which key recognitions are given below:

1. Wipro was ranked as the third fastest growing global IT Services brand in 2019 in a study conducted by Brand Finance, the world's leading brand valuation firm.

2. Wipro received ‘Quality Global Supplier' award from innogy SE.

3. Wipro was rated a Leader in Digital Transformation in ITSMA Report.

4. Wipro has been recognized as a Leader in Digital Process Automation by Independent Research Firm.

5. Wipro was included in the Dow Jones Sustainability Index (DJSI) – World and Emerging Markets for the 9th time in succession.

6. Wipro has been cited as a Leader in Everest Group's Digital Workplace Services PEAK Matrix assessment.

7. Wipro's Intellectual Property Portfolio was Recognized with National IP Award and WIPO Enterprise IP Trophy.

8. Wipro was cited as a Leader in Gartner's Magic Quadrant for Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America.

9. Wipro has been recognized for second successive year in the "Leadership" category for corporate governance practices on the basis of the Indian Corporate Governance Scorecard, which is a framework developed jointly by International Finance Corporation, a member of the World Bank group, BSE Limited and Institutional Investor Advisory Services based on globally accepted G20/OECD principles.

Further details of awards and accolades won by your Company are provided at page 11 of this Annual Report.

III. Governance and Ethics Corporate Governance

Your Company believes in adopting best practices of corporate governance. Corporate governance principles are enshrined in the Spirit of Wipro, which form the core values of Wipro. These guiding principles are also articulated through the Company's code of business conduct, Corporate Governance Guidelines, charter of various sub-committees and disclosure policy.

As per Regulation 34 of the Listing Regulations, a separate section on corporate governance practices followed by your Company, together with a certificate from V. Sreedharan & Associates, Practising Company Secretaries, on compliance with corporate governance norms under the Listing Regulations, is provided in page 115 of this Annual Report.

Board of Directors

Board Composition and Independence

Your Company's Board consists of global leaders and visionaries who provide strategic direction and guidance to the organization. As on March 31, 2019, the Board comprised of three Executive Directors and eight Non-Executive Independent Directors.

Definition of ‘Independence' of Directors is derived from Regulation 16 of the Listing Regulations, the NYSE Listed Company Manual and Section 149(6) of the Companies Act, 2013. The Company has received necessary declarations under Section 149(7) of the Companies Act, 2013, from the Independent Directors stating that they meet the prescribed criteria for independence. The Board of Directors, after undertaking assessment and on evaluation of the relationships disclosed, considered the following Non-Executive Directors as Independent Directors: a) Mr. N Vaghul b) Dr. Ashok S Ganguly c) Mr. M K Sharma d) Mrs. Ireena Vittal e) Mr. William Arthur Owens f) Dr. Patrick J Ennis g) Mr. Patrick Dupuis h) Mrs. Arundhati Bhattacharya All Independent Directors have affirmed compliance to the code of conduct for independent directors as prescribed in Schedule IV of the Companies Act, 2013.

Number of Meetings of the Board

The Board met five times during the financial year 2018-19 on April 24-25, 2018, June 8, 2018, July 19-20, 2018, October 23-24, 2018 and January 17-18, 2019. The maximum interval between any two meetings did not exceed 120 days.

Directors and Key Managerial Personnel

At the 72nd Annual General Meeting (AGM) held on July 19, 2018, Mrs. Ireena Vittal was re-appointed as an Independent Director for a second term with effect from October 1, 2018 to September 30, 2023.

Pursuant to the recommendation of Board Governance, Nomination and Compensation Committee, and subject to approval of the Members of the Company, the Board at its meeting held on October 24, 2018, approved appointment of Mrs. Arundhati Bhattacharya as Additional Director, designated as Independent Director of the Company for a term of 5 years from January 1, 2019 to December 31, 2023. Further, the shareholders of the Company approved the aforesaid appointment vide resolution passed by way of postal ballot/e-voting dated June 1, 2019. Pursuant to the provisions of Section 152 of the Companies Act, 2013 and Articles of Association of the Company, Mr. Abidali Z Neemuchwala will retire by rotation at the 73rd AGM and being eligible, has offered himself for re-appointment. The Board of Directors of the Company, at their meeting held on June 6, 2019, approved the following, subject to approval of the Members:

1. Appointment of Mr. Azim H Premji as Non-Executive Director for a period of 5 years with effect from July 31, 2019 to July 30, 2024 and conferred him with the title of Founder Chairman of the Company. Mr. Azim H Premji will retire from his current position as Executive Chairman and Managing Director effective July 30, 2019.

2. Re-appointment of Mr. Rishad A Premji as Whole Time Director for a period of 5 years with effect from July 31, 2019 to July 30, 2024 (designated as Executive Chairman by the Board of Directors of the Company).

As and when the amendments to Regulation 17(1B) of the Listing Regulations requiring appointment of Non-Executive Chairman by listed entities come into effect, Mr. Rishad A Premji will cease to perform any executive roles in the Company and continue in the capacity of Non-Executive Director (designated as "Non-Executive Chairman" by the Board of Directors) of the Company, such that the Company remains compliant with the Listing Regulations in force at all times.

3. Designated and appointed Mr. Abidali Z Neemuchwala as Managing Director of the Company with effect from July 31, 2019 till the end of his current term, in addition to his existing position as Chief Executive Officer of the Company.

Committees of the Board

The Company's Board has the following committees:

1. Audit, Risk and Compliance Committee, which also acts as Risk Management Committee.

2. Board Governance, Nomination and Compensation Committee, which also acts as Corporate Social Responsibility Committee.

3. Strategy Committee.

4. Administrative and Shareholders/Investors Grievance Committee (Stakeholders' Relationship Committee).

Details of terms of reference of the Committees, Committee membership and attendance of Directors at meetings of the Committees are provided in the Corporate Governance report from pages 122 to 125 of this Annual Report.

Board Evaluation

In line with the Corporate Governance Guidelines of your Company, Annual Performance Evaluation was conducted for all Board Members, for the Board and its Committees. This evaluation was led by the Chairman of the Board Governance, Nomination and Compensation Committee with specific focus on performance and effective functioning of the Board. The Board evaluation framework has been designed in compliance with the requirements under the Companies Act, 2013 and the Listing Regulations, and in accordance with the Guidance Note on Board Evaluation issued by SEBI in January 2017. The Board evaluation was conducted through questionnaire designed with qualitative parameters and feedback based on ratings. Evaluation of the Board was based on criteria such as composition and role of the Board, Board communication and relationships, functioning of Board Committees, review of performance of Executive Directors, succession planning, strategic planning, etc.

Evaluation of Committees was based on criteria such as adequate independence of each Committee, frequency of meetings and time allocated for discussions at meetings, functioning of Board Committees and effectiveness of its advice/recommendation to the Board, etc.

Evaluation of Directors was based on criteria such as participation and contribution in Board and Committee meetings, representation of shareholder interest and enhancing shareholder value, experience and expertise to provide feedback and guidance to top management on business strategy, governance, risk and understanding of the organization's strategy, etc. The outcome of the Board evaluation for financial year 2018-19 was discussed by the Board Governance, Nomination and Compensation Committee and the Board at their meeting held in April 2019. The Board has received highest ratings on Board communication and relationships, functioning of Board Committees and legal and financial duties. The Board noted the actions taken in improving Board effectiveness based on feedback given in the previous year. Further, the Board also noted areas requiring more focus in the future, which include spending more time on trends, long-term threats and opportunities.

Policy on Director's Appointment and Remuneration

The Board Governance, Nomination & Compensation Committee has framed a policy for selection and appointment of Directors including determining qualifications and independence of a Director, Key Managerial Personnel (KMP), senior management personnel and their remuneration as part of its charter and other matters provided under Section 178(3) of the Companies Act, 2013. Pursuant to Section 134(3) of the Companies Act, 2013, the nomination and remuneration policy of the Company which lays down the criteria for determining qualifications, competencies, positive attributes and independence for appointment of Directors and policies of the Company relating to remuneration of Directors, KMP and other employees is available on the Company's website at https://www.wipro.com/content/dam/nexus/en/investor/ corporate-governance/policies-and-guidelines/ethical-guidelines/wipro-limited-remuneration-policy.pdf. We affirm that the remuneration paid to Directors is in accordance with the remuneration policy of the Company.

Risk Management

Your Company has put in place an Enterprise Risk Management (ERM) framework and adopted an enterprise risk management policy based on globally recognized standards. The ERM framework is administered by the Audit, Risk and Compliance Committee. The objective of the ERM framework is to enable and support achievement of business objectives through risk-intelligent assessment apart from placing significant focus on constantly identifying and mitigating risks within the business. The ERM Framework covers various categories of risks including, inter alia, information security and cyber security risks, effectiveness of the controls that have been implemented to prevent such risks and continuous improvement of the systems and processes to mitigate such risks.

For more details on the Company's risk management framework, please refer page 27 of this Annual Report.

Compliance Management Framework

The Board has approved a Global Statutory Compliance Policy providing guidance on broad categories of applicable laws and process for monitoring compliance. In furtherance to this, your Company has instituted an online compliance management system within the organization to monitor compliances and provide update to senior management and Board on a periodic basis. The Audit, Risk and Compliance Committee and the Board periodically monitor status of compliances with applicable laws.

Code for Prevention of Insider Trading

On December 31, 2018, Securities and Exchange Board of India amended the Prohibition of Insider Trading Regulations, 2015, prescribing various new requirements with effect from April 1, 2019. In line with the amendments, your Company has adopted an amended Code of Conduct to regulate, monitor and report trading by Designated Persons and their Immediate Relatives under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. This Code of Conduct also includes code of practices and procedures for fair disclosure of unpublished price sensitive information which has been made available on the Company's website at https://www.wipro.com/corporate-governance.

Vigil Mechanism

Your Company has adopted an Ombuds process as a channel for receiving and redressing complaints from employees and Directors, as per the provisions of Section 177(9) and (10) of the Companies Act, 2013 and Regulation 22 of the Listing Regulations. The Ombuds policy of the Company was amended to align with the requirements under Regulation 9A of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. Under this policy, your Company encourages its employees to report any reporting of fraudulent financial or other information to the stakeholders, and any conduct that results in violation of the Company's code of business conduct, to the management (on an anonymous basis, if employees so desire). Further, your Company has prohibited discrimination, retaliation or harassment of any kind against any employees who report under the Vigil Mechanism or participates in the investigation.

Awareness of policies is created by sending group mailers highlighting actions taken by the Company against the errant employees. Mechanism followed under Ombuds process has been displayed on the Company's intranet and website at www.wipro.com.

The Audit, Risk and Compliance Committee periodically reviews the functioning of this mechanism. No personnel of the Company was denied access to the Audit, Risk & Compliance Committee.

Information Required under Sexual Harassment of Women at Work place (Prevention, Prohibition and Redressal) Act, 2013

Your Company has constituted Internal Complaints Committee as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and also has a policy and framework for employees to report sexual harassment cases at workplace and its process ensures complete anonymity and confidentiality of information. Adequate workshops and awareness programmes against sexual harassment are conducted across the organization. Details of complaints received/disposed during the financial year 2018-19 is provided on page 126 of this Annual Report.

Related Party Transactions

Your Company has historically adopted the practice of undertaking related party transactions only in the ordinary and normal course of business and at arm's length as part of its philosophy of adhering to highest ethical standards, transparency and accountability. In line with the provisions of the Companies Act, 2013 and the Listing Regulations, the Board has approved a policy on related party transactions. An abridged policy on related party transactions has been placed on the Company's website https://www.wipro.com/corporate-governance.

All related party transactions are placed on a quarterly basis before the Audit, Risk and Compliance Committee and before the Board for approval. Prior omnibus approval of the Audit, Risk and Compliance Committee and the Board is obtained for the transactions which are foreseeable and of a repetitive nature.

The particulars of contracts or arrangements with related parties referred to in Section 188(1) and applicable rules of the Companies Act, 2013 in Form AOC-2 is provided as Annexure I to this Annual Report.

Pursuant to Regulation 23(9) of the Listing Regulations, your Company has filed half yearly report on Related Party Transactions with the Stock Exchanges, for the year ended March 31, 2019.

Directors' Responsibility Statement

Your Directors hereby confirm that:

(a) in the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit and loss of the Company for that period; (c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (d) the Directors have prepared the annual accounts on a going concern basis; (e) the Directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively; and (f) as required under Section 134(5)(f) of the Companies Act, 2013, and according to the information and explanations presented to us, based on the review done by the Audit, Risk and Compliance Committee and as recommended by it, we, the Board, hereby, state that adequate systems and processes, commensurate with the size of the Company and the nature of its business, have been put in place by the Company, to ensure compliance with the provisions of all applicable laws as per the Company's Global Statutory Compliance Policy and that such systems and processes are operating effectively.

Wipro Employee Stock Option Plans (WESOP)/Restricted Stock Unit Plans

Your Company has instituted various employee stock options plans/restricted stock unit plans from time to time to motivate, incentivize and reward employees. The Board Governance, Nomination and Compensation Committee administers these plans. The stock option plans are in compliance with Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 ("Employee Benefits Regulations") and there have been no material changes to these plans during the financial year. Disclosures on various plans, details of options granted, shares allotted upon exercise, etc. as required under the Employee Benefits Regulations read with Securities and Exchange Board of India circular no. CIR/CFD/POLICY CELL/2/2015 dated June 16, 2015 are available on the Company's website at https://www.wipro.com/investors/ annual-reports/. No employee was issued stock options during the year equal to or exceeding 1% of the issued capital of the Company at the time of grant.

Particulars of Employees

I nformation required pursuant to Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided as Annexure II to this report. A statement containing, inter alia, the names of top ten employees in terms of remuneration drawn and every employee employed throughout the financial year and in receipt of remuneration of र 102 lakhs or more and, employees employed for part of the year and in receipt of remuneration of र 8.50 lakhs or more per month, pursuant to Rule 5(2) the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is provided as Annexure III to this report.

IV. Internal Financial Controls and Audit Internal Financial Controls and their Adequacy

The Board of your Company has laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively. Your Company has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures.

Statutory Auditors

At the 71st AGM held on July 19, 2017, the Members of the Company approved the appointment of Deloitte Haskins & Sells LLP, Chartered Accountants (Registration No. 117366W/W-100018) as statutory auditors of the Company for a term of 5 years from the financial year 2017-18 onwards on such terms and conditions and remuneration as may be decided by the Audit, Risk and Compliance Committee. Accordingly, Deloitte Haskins & Sells LLP will continue as statutory auditors of the Company till the financial year 2021- 22.

Vide notification dated May 7, 2018 issued by Ministry of Corporate Affairs, the requirement of seeking ratification of appointment of statutory auditors by members at each AGM has been done away with. Accordingly, no such item has been considered in notice of the 73rd AGM.

Auditors' Report

There are no qualifications, reservations or adverse remarks made by Deloitte Haskins & Sells LLP, Statutory Auditors, in their report for the financial year ended March 31, 2019.

Pursuant to provisions of Section 143(12) of the Companies Act, 2013, the Statutory Auditors have not reported any incident of fraud to the Audit, Risk and Compliance Committee during the year under review.

Secretarial Audit

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Mr. V Sreedharan, Partner, V Sreedharan & Associates, Practicing Company Secretaries, to conduct Secretarial Audit of the Company. The Report of the Secretarial Audit in Form MR-3 for the financial year ended March 31, 2019 is enclosed as Annexure IV to this report. There are no qualifications, reservations or adverse remarks made by the Secretarial Auditor in his report.

Cost Records and Audit

Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1) of the Companies Act, 2013 are not applicable for the business activities carried out by the Company.

V. Social Responsibility and Sustainability Corporate Social Responsibility

Your Company is at the forefront of Corporate Social Responsibility (CSR) and sustainability initiatives and practices. Your Company believes in making lasting impact towards creating a just, equitable, humane and sustainable society. Your Company has been involved with social initiatives for more than a decade and half and engages in various activities in the field of education, primary healthcare and communities, ecology and environment, etc. Your Company has won several awards and accolades for its CSR and sustainability efforts. As per the provisions of the Companies Act, 2013, companies having net worth of र 500 crores or more, or turnover of र 1,000 crores or more or net profit of र 5 crores or more during the immediately preceding financial year are required to constitute a Corporate Social Responsibility (CSR) committee of the board comprising three or more directors, at least one of whom should be an independent director and such company shall spend at least 2% of the average net profits of the company's three immediately preceding financial years towards CSR activities. Accordingly, your Company spent र 1,853 million towards CSR activities during the financial year 2018-19. The contents of the CSR policy and CSR Report for the year 2018-19 is attached as Annexure V to this report. Contents of the CSR policy are also available on the Company's website at https://www.wipro.com/corporate-governance.

The terms of reference of CSR Committee, framed in accordance with Section 135 of the Companies Act, 2013, forms part of Board Governance, Nomination and Compensation Committee. The Committee consists of three independent directors, Dr. Ashok S Ganguly, Mr. N Vaghul and Mr. William Arthur Owens, as its members. Dr. Ashok S Ganguly is the Chairman of the Committee.

Particulars Regarding Conservation of Energy and Research and Development and Technology Absorption

Details of steps taken by your Company to conserve energy through its "Sustainability" initiatives, Research and Development and Technology Absorption have been disclosed as part of the MD&A Report.

VI. Other Disclosures

Foreign Exchange Earnings and Outgoings

During the year 2018-19, your Company's foreign exchange earnings were र 444,584 million and foreign exchange outgoings were र 230,362 million as against र 391,807 million of foreign exchange earnings and र 207,831 million of foreign exchange outgoings for the financial year 2017-18.

Extract of Annual Return

Pursuant to Section 92(3) and Section 134(3)(a), extract of the annual return as on March 31, 2019 in form MGT-9 is enclosed as Annexure VI to this report. Additionally, your Company has also placed a copy of annual return for the financial year 2017-18 on its website at https://www. wipro.com/investors/annual-reports/.

Material Changes and Commitments Affecting the Financial Position of the Company

There have been no material changes and commitments, affecting the financial position of the Company which occurred between the end of the financial year to which the financial statements relate and the date of this report.

Details of Significant and Material Orders Passed by the regulators/courts/tribunals Impacting the going concern status and the Company's operations in future

There are no significant material orders passed by the regulators/courts/tribunals which would impact the going concern status of the Company and its future operations.

Acknowledgements and Appreciation

Your Directors take this opportunity to thank its customers, shareholders, suppliers, bankers, business partners/ associates, financial institutions and Central and State Governments for their consistent support and encouragement to your Company. I am sure you will join our Directors in conveying our sincere appreciation to all employees of your Company and its subsidiaries and associates for their hard work and commitment. Their dedication and competence has ensured that your Company continues to be a significant and leading player in the IT Services industry.

For and on behalf of the Board of Directors,
Bengaluru Azim H Premji
June 6, 2019 Executive Chairman

   

Wipro Ltd Company Background

Rishad Azim Premji
Incorporation Year1945
Registered OfficeDoddakannelli,Sarjapur Road
Bangalore,Karnataka-560035
Telephone91-80-28440011,Managing Director
Fax91-80-28440256
Company SecretaryM Sanaulla Khan
AuditorDeloitte Haskins & Sells LLP
Face Value2
Market Lot1
ListingBSE,MSEI ,New York,NSE,
RegistrarKarvy Fintech Pvt Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032

Wipro Ltd Company Management

Director NameDirector DesignationYear
Azim H Premji Director 2019
William Arthur Owens Independent Director 2019
M K Sharma Independent Director 2019
Ireena Vittal Independent Director 2019
Rishad Azim Premji Chairman 2019
M Sanaulla Khan Company Secretary 2019
Abidali Z Neemuchwala Executive Director & CEO 2019
Patrick Dupuis Independent Director 2019
Patrick J Ennis Independent Director 2019
Arundhati Bhattacharya Independent Director 2019

Wipro Ltd Listing Information

Listing Information
NIFTY
BSE_500
BSE_IT
BSE_100
BSE_200
BSEDOLLEX
BSE_TECK
CNX500
CNX_IT
CNX100
CNXSERVICE
CNX200
NFTALPHA50
BSECARBONE
NIFTY50V20
NFT100EQWT
BSEALLCAP
BSELARGECA
SENSEX50
ESG100
LMI250
BSEDSI
BSELVI
BSEMOI
BSEQUI
NFT50EQWT
NFT100LV30

Wipro Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Products NA 00046852.9
Sale of Services NA 0001176.9
Other Operating income NA 00094
Spares/Components for TippersNA 0000
Spares/Components for Tippers NA 0000
Miscellaneous Sales NA 0000
Post Sales Support & IT Serv. Rs.0000
Processing & Service Charges Rs.0000
CFL No 0000
Income From services Rs.0000
IT Enabled Services Rs.0000
Sales & Services Rs.0000
Water Treatment Skids No 0000
Internet Service Provider NA 0000
Agency Commission Rs.0000
Adjustment NA 0000
Vanaspati/Hydrogenated oils MT 0000
Glycerine MT 0000
Toiletries NA 0000
Toilet Soaps MT 0000
Reagent Kits/Spare(Analy.Inst)No 0000
Fatty Acids MT 0000
Shoe Uppers (Pairs) No 0000
TL Shells No 0000
Hydraulic & Pneumatic tubes NPA0000
Mini Computer/Micro Processor No 0000
Mini Computer/Micro Processor Rs.0000
Networking Storage equipment NA 0000
Tipping Gears NPA0000
Software Rs.0000
Software Services Rs.0000
GLS Lamps No 0000
Lighting Products NA 0000
Fluorescent Tubelight No 0000

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