About
Wipro Ltd
Wipro Ltd is India's one of the leading tech-companies,providing 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.
During the year 2018-19, the Company allotted 1,681,717 equity shares and transferred 2,599,183 equity shares of Rs 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 Rs 2/- each as bonus equity shares on 08 March 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.
During the financial year 2018-19, your Company invested an aggregate of Rs 36,373 million in its direct subsidiaries.
On 16 April 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 Rs 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 31 March 2019, at a price of Rs 325/- (Rupees Three Hundred and Twenty Five) per equity share.
During the FY2019, 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 29 March 2019 passed by NCLT approving the scheme of amalgamation ('Scheme') for the aforesaid merger. As per the said Scheme, the appointed date is 01 April 2018.The company liquidated Appirio Singapore Pte Ltd and Appirio GmbH. Also carried out the merger of Cellent Mittelstandsberatung GmbH with and into Cellent GmbH, Germany. The company setting up of a new subsidiary namely Wipro IT Services S.R.L in Romania. Also Setting up of a new subsidiary namely Wipro US Foundation in USA.
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. Wipro received Quality Global Supplier' award from innogy SE. Wipro was included in the Dow Jones Sustainability Index (DJSI) - World and Emerging Markets for the 9th time in succession.
Pursuant to the approval of the Board on 16 April 2019 and approval of shareholders through special resolution dated 01 June 2019 passed through postal ballot/e-voting, your Company concluded the buyback of 323,076,923 equity shares of face value of Rs 2/- each at a price of Rs 325/- per equity share, for an aggregate amount of Rs 105,000 million, in September 2019.
During the financial year 2019-20, your Company has carried out restructuring of its following subsidiaries: a. Dissolution of Wipro Retail UK Limited and Liquidation of Appirio GmbH, b. Merger of Frontworx Informationstechnologie GmbH with and into Cellent GmbH, c. Merger of Digital Aps with and into Designit A/s.
During the FY2020,Wipro was included in the Dow Jones Sustainability Index (DJSI) - World and Emerging Markets for the 10th time in succession.The company has been named as 2020 World's Most Ethical Company for the 9th successive year by the Ethisphere Institute.The company was also recognised as leader in Everest Group PEAK MatrixTM in 2019 and 2020 Healthcare payer digital services.The company has been recognised by the Top Employers Institute as a Top Employer in Australia, for 2020.
During the nine months ended 31 December 2020, the Company has completed two business combinations (which individually are not material) for a total consideration of Rs 7,853. These include (a) acquisition of IVIA Servicos de Informatica Ltda. ('IVIA '), a specialized IT services provider to financial services, retail and manufacturing sectors in Brazil (b) acquisition of 4C NV and its subsidiaries ('4C'), a Salesforce multicloud partner in Europe, U.K. and the Middle East, and (c) acquisition of Encore Theme Technologies Private Limited ('ETT'), a Finastra trade finance solutions partner across the Middle East, Africa, India and Asia Pacific.
On 13 October 2020, the Board of Directors approved a proposal to Buyback up to 237,500,000 equity shares of Rs 2 each (representing 4.16% of total paid-up equity share capital as at 30 September 2020) from the shareholders of the Company on a proportionate basis by way ofa tender offer at a price of Rs 400 per equity share for an aggregate aruount not exceeding Rs 95,000 million ('Buyback'), in accordance with the provisions contained in The Securities and Exchange Board of lndia (Buy-back of Securities) Regulations, 2018, as amended and the Companies Act, 2013 and rules made thereunder ('Buyback Regulations'). Subsequently, the shareholders of the Company approved the Buyback through postal ballot (including e-voting) on 16 November 2020 and 11 December 2020 was fixed as the record date for the Buyback. In accordance with the provisions of the Buyback Regulations, the Letter of offer for the buyback was approved by SEBI on 21 December 2020 and tender period for Buyback opened on 29 December 2020 and will close on 11 January 2021. Consequently, the Company has recorded a liability towards gross obligation on Buyback of equity shares oft 95,000 million and the corresponding liability for tax on buyback of Rs 22,021 million as at 31 December 2020.
On 22 December 2020, as part of strategic partnership, the Company entered into a definitive agreement with Metro AG to take over the IT units in Germany and Romania. The consummation of the transaction is subject to receipt of regulatory approvals and customary closing conditions and is expected to be completed by 30 April 2021.
In March 2021, the company has acquired London-based The Capital Markets Company(Capco) for USD 1.45 billion. Capco is a management and technology consultancy firm that provides digital,consulting and technology services to the global banking and financial services industry.
Wipro Ltd
Chairman Speech
Dear Stakeholders,
I want to begin by acknowledging a historic milestone - Wipro crossed
$10 billion in revenue this year. Congratulations!
From this vantage point, it seems impossible to believe that Wipro was
founded as a tiny oil mill in Amalner, Western India, in 1945. No one could have predicted
that one day, it would morph into a global technology company with a presence across 66
countries, employing over 240,000 people. I feel humbled by the progress we have made in
our 75-plus years, but also immensely proud that we accomplished this while remaining
completely committed to our values.
1945 was an extremely difficult year for the world. World war II had
just ended, and a large part of the world lay in ruins. India was still under colonial
rule and facing an uncertain future.
The post-war world, though, saw one of the greatest periods of economic
expansion in human history.
Today, we find ourselves at another crossroads. The pandemic is not yet
over. Inflation is soaring. An armed international conflict is underway. The global
economy is facing an uncertain future, and we are staring at a huge climate and energy
crisis.
And yet I remain optimistic. Because I believe that grave crises carry
within them seeds of great possibilities. The fact that we had a Covid vaccine within a
year of the outbreak, and that two-thirds of the world population has already received at
least one dose of the vaccine, is testament to that belief.
Driven by the pandemic, all of us -individuals, and businesses - have
discovered new ways to work together at scale with technology. Demand for digital, cloud,
data, and cybersecurity services will continue to grow as more of our customers adapt to
the new world order. The long-term prospects of the technology services industry look very
good.
We at Wipro are doing everything we can to seize this moment.
Wipro has witnessed a significant amount of change in the last two
years. Thierry joined us in July 2020. He has given Wipro a new direction by driving
change while building on our very strong legacy and core strengths of the organization.
We have completely transformed our structure and our operating model.
We have gone from being industry- organized to being market-organized (supported by our
global capability units). We have added new talent across the board, with particular
emphasis on women leaders.
Our leadership team is more diverse now, with a great combination of
new and old. We have several new leaders who bring in a new mindset, even as we have
nearly half the many leaders in the top 200 mark a decade or more in Wipro.
We are much more growth-obsessed than before. We are driving deep
strategic partnerships with hyperscalers and increasing our focus on large deals. We have
invested in a Chief Growth Office function - a first for the company -and changed the
seniority and maturity of our sales leaders.
We have invested significantly in acquisitions either for gaining
market access or for acquiring new capabilities. Lastyear, we acquired Capco. It has been
atremendous addition in the banking and financial space, crossing a $1 billion run rate,
and allowing us to offer end-to-end capability - from thinking to designing to building
and running - to our customers.
Cloud is at the core of most transformation initiatives with a
significant headroom for growth in the coming years. We have long been a cloud services
pioneer. We are investing $1 billion in Wipro FullStride Cloud Services over the next few
years to deliver an orchestrated transformation that accelerates business results for
clients.
We will continue our investments - in building capabilities and
acquiring market leading talent - in strategic growth areas such as cyber, data, AI and
our engineering business. The future of technology is exciting and opportunity rich. We
are accelerating our investments in our Topcoder platform and in emerging areas such as
Metaverse, Web 3.0, Robotics, self-learning AI, and privacy systems.
We are very proud of our culture and values. It is a huge
differentiator for us, and it is important that people experience that. We are aware that
a significant percentage of our recruits in the last 12 months haven't walked into a Wipro
office or engaged with people beyond their immediate project. And while we will continue
to work in a hybrid model, we are aware that culture and connectedness grow when people
meet each other.
So, my focus remains on our people. One of the things we are driving is
the Five Habits. Our big learning is that people don't experience our values - they
experience our behaviors, through which they interpret our values. The Five Habits takes
our values closer to our people, as I have discussed with 29,000 Wipro employees over 94
sessions.
We at Wipro believe our story is deeply connected to our communities.
66% of the economic interest in Wipro is irrevocably pledged for philanthropy through the
efforts of Azim Premji Foundation. The Foundation works tirelessly to create at-scale,
institutionalized changes in the quality of education in India as well as in other areas
including working with vulnerable groups, health, nutrition, and governance.
One of the biggest challenges facing the world today is climate change.
While it's encouraging to see governments, business and civil society step up to the
challenge, much remains to be done. Wipro's climate change program goes back 15 years and
has evolved into a mature yet dynamically responsive set of initiatives. In April 2021, we
announced our goal of achieving ‘Net ZeroRs.greenhouse gas emissions by 2040. We have
a clear roadmap for the short and medium terms with targets of 100% renewable energy and
100% electric mobility by 2030. We were one of the first seven companies globally to have
their Net Zero targets validated by Science Based Targets initiative.
Our business strategy prioritizes reaching our goals in a maximally
responsible manner. Inclusion is a way of life at Wipro. Various programs and initiatives
have helped us to nearly double the gender diversity at senior leadership levels in FY'22.
Overall, we are at 36.1% gender diversity.
To foster a safe workplace for LGBTQ+ employees and protect them from
bias and discrimination, we launched the Global Prevention of LGBTQ+ Discrimination Policy
last year. We also took several steps to advance an inclusive work environment for Black
employees, from introducing a holiday on Martin Luther King Day to strategically
recruiting from Historically Black colleges and universities (HBCUs).
This financial year has been a momentous year for Wipro and I would
like to express my gratitude to our clients, partners, employees, and other stakeholders
for reposing their trust and confidence in us. I am very excited about the progress we
have made, the path we are on, and confident of building on this incredible momentum.
Rishad A. Premji
Chairman
  Â
Wipro Ltd
Company History
Wipro Ltd is India's one of the leading tech-companies,providing 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.
During the year 2018-19, the Company allotted 1,681,717 equity shares and transferred 2,599,183 equity shares of Rs 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 Rs 2/- each as bonus equity shares on 08 March 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.
During the financial year 2018-19, your Company invested an aggregate of Rs 36,373 million in its direct subsidiaries.
On 16 April 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 Rs 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 31 March 2019, at a price of Rs 325/- (Rupees Three Hundred and Twenty Five) per equity share.
During the FY2019, 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 29 March 2019 passed by NCLT approving the scheme of amalgamation ('Scheme') for the aforesaid merger. As per the said Scheme, the appointed date is 01 April 2018.The company liquidated Appirio Singapore Pte Ltd and Appirio GmbH. Also carried out the merger of Cellent Mittelstandsberatung GmbH with and into Cellent GmbH, Germany. The company setting up of a new subsidiary namely Wipro IT Services S.R.L in Romania. Also Setting up of a new subsidiary namely Wipro US Foundation in USA.
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. Wipro received Quality Global Supplier' award from innogy SE. Wipro was included in the Dow Jones Sustainability Index (DJSI) - World and Emerging Markets for the 9th time in succession.
Pursuant to the approval of the Board on 16 April 2019 and approval of shareholders through special resolution dated 01 June 2019 passed through postal ballot/e-voting, your Company concluded the buyback of 323,076,923 equity shares of face value of Rs 2/- each at a price of Rs 325/- per equity share, for an aggregate amount of Rs 105,000 million, in September 2019.
During the financial year 2019-20, your Company has carried out restructuring of its following subsidiaries: a. Dissolution of Wipro Retail UK Limited and Liquidation of Appirio GmbH, b. Merger of Frontworx Informationstechnologie GmbH with and into Cellent GmbH, c. Merger of Digital Aps with and into Designit A/s.
During the FY2020,Wipro was included in the Dow Jones Sustainability Index (DJSI) - World and Emerging Markets for the 10th time in succession.The company has been named as 2020 World's Most Ethical Company for the 9th successive year by the Ethisphere Institute.The company was also recognised as leader in Everest Group PEAK MatrixTM in 2019 and 2020 Healthcare payer digital services.The company has been recognised by the Top Employers Institute as a Top Employer in Australia, for 2020.
During the nine months ended 31 December 2020, the Company has completed two business combinations (which individually are not material) for a total consideration of Rs 7,853. These include (a) acquisition of IVIA Servicos de Informatica Ltda. ('IVIA '), a specialized IT services provider to financial services, retail and manufacturing sectors in Brazil (b) acquisition of 4C NV and its subsidiaries ('4C'), a Salesforce multicloud partner in Europe, U.K. and the Middle East, and (c) acquisition of Encore Theme Technologies Private Limited ('ETT'), a Finastra trade finance solutions partner across the Middle East, Africa, India and Asia Pacific.
On 13 October 2020, the Board of Directors approved a proposal to Buyback up to 237,500,000 equity shares of Rs 2 each (representing 4.16% of total paid-up equity share capital as at 30 September 2020) from the shareholders of the Company on a proportionate basis by way ofa tender offer at a price of Rs 400 per equity share for an aggregate aruount not exceeding Rs 95,000 million ('Buyback'), in accordance with the provisions contained in The Securities and Exchange Board of lndia (Buy-back of Securities) Regulations, 2018, as amended and the Companies Act, 2013 and rules made thereunder ('Buyback Regulations'). Subsequently, the shareholders of the Company approved the Buyback through postal ballot (including e-voting) on 16 November 2020 and 11 December 2020 was fixed as the record date for the Buyback. In accordance with the provisions of the Buyback Regulations, the Letter of offer for the buyback was approved by SEBI on 21 December 2020 and tender period for Buyback opened on 29 December 2020 and will close on 11 January 2021. Consequently, the Company has recorded a liability towards gross obligation on Buyback of equity shares oft 95,000 million and the corresponding liability for tax on buyback of Rs 22,021 million as at 31 December 2020.
On 22 December 2020, as part of strategic partnership, the Company entered into a definitive agreement with Metro AG to take over the IT units in Germany and Romania. The consummation of the transaction is subject to receipt of regulatory approvals and customary closing conditions and is expected to be completed by 30 April 2021.
In March 2021, the company has acquired London-based The Capital Markets Company(Capco) for USD 1.45 billion. Capco is a management and technology consultancy firm that provides digital,consulting and technology services to the global banking and financial services industry.
Wipro Ltd
Directors Reports
Dear Members,
It gives me immense pleasure to present the 76th Board's Report,
on behalf of the Board of Directors (the "Board") of the Company, along with the
Balance Sheet, Profit and Loss Account, and Cash Flow Statements for the financial year
ended March 31,2022.
I. FINANCIAL PERFORMANCE
On a consolidated basis, your Company's sales increased to
Rs.790,934 million for the current year as against Rs.619,430 million in the previous
year, recording an increase of 27.69%. Your Company's net profits increased to
Rs.122,434 million for the current year as against Rs.108,680 million in the previous
year, recording an increase of 12.66%.
On a standalone basis, your Company's sales increased to
Rs.595,744 million for the current year as against Rs.502,994 million in the previous
year, recording an increase of 18.44%. Your Company's net profits increased to
Rs.121,353 million in the current year as against Rs.100,609 million in the previous year,
recording an increase of 20.62%.
Key highlights of financial performance of your Company for the
financial year 2021-22 are provided below:
(Rs. in Millions)
|
Standalone |
Consolidated |
|
2021-22 |
2020-21 |
2021-22 |
2020-21 |
| Sales |
595,744 |
502,994 |
790,934 |
619,430 |
| Other Operating Income |
- |
- |
2,186 |
(81) |
| Other Income |
47,061 |
23,829 |
20,612 |
23,907 |
| Operating Expenses |
(490,163) |
(399,975) |
(662,381) |
(504,357) |
| Share of net profit/ (loss) of associates accounted for using
the equity method |
- |
- |
57 |
130 |
| Profit before Tax |
152,642 |
126,848 |
151,408 |
139,029 |
| Provision for Tax |
31,289 |
26,239 |
28,974 |
30,349 |
| Net profit for the year |
121,353 |
100,609 |
122,434 |
108,680 |
| Other comprehensive (loss)/income for the year |
(1,487) |
6,337 |
11,452 |
6,817 |
| Total comprehensive income for the year |
119,866 |
106,946 |
133,886 |
115,497 |
| Total comprehensive income for the period attributable to: |
|
|
|
|
| Minority Interest |
- |
- |
187 |
663 |
| Equity holders |
119,866 |
106,946 |
133,699 |
114,834 |
| Appropriations |
|
|
|
|
| Dividend |
32,891 |
5,478 |
32,804 |
5,459 |
| Equity Share Capital |
10,964 |
10,958 |
10,964 |
10,958 |
| EPS |
|
|
|
|
| - Basic |
22.20 |
17.81 |
22.37 |
19.11 |
| - Diluted |
22.14 |
17.77 |
22.31 |
19.07 |
Note: The standalone and consolidated financial statements of the
Company for the financial year ended March 31,2022, have been prepared in accordance with
the Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs
and as amended from time to time.
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, Company's dividend track record, usage of retained
earnings for corporate actions, etc. The Dividend Distribution and Capital Allocation
Policy are available on the Company's website at
https://www.wipro.com/content/dam/nexus/en/
investor/corporate-governance/policies-and-guidelines/ ethical-guidelines/1
2769-dividend-distribution-policy- october-2016.pdf.
Pursuant to the approval of the Board on January 12, 2022, your Company
paid an interim dividend of Rs.1/- per equity share of face value of Rs.2/- each, to
shareholders whose names were appearing in the register of members as on January 24, 2022,
being the record date fixed for this purpose, after deduction of applicable taxes. The
total net cash outflow was of Rs.4,921 million, resulting in a dividend payout of 4.06% of
the standalone profits of the Company. Further, the Board, on March 25, 2022, approved an
interim dividend of Rs.5/- per equity share of face value of Rs.2/- each, to shareholders
whose names were appearing in the register of members as on April 6, 2022, being the
record date fixed for this purpose, after deduction of applicable taxes. The total net
cash outflow was of Rs.24,654 million, resulting in a dividend payout of 20.32% of the
standalone profits of the Company.
The interim dividend of Rs.1/- and Rs.5/-, per equity share, declared
by the Board on January 12 and March 25, 2022, respectively, shall be the final dividend
for the financial year 2021-22.
Your Company is in compliance with its Dividend Distribution and
Capital Allocation Policy as approved by the Board.
Transfer to Reserves
Appropriations to general reserves for the financial year ended March
31,2022, as per standalone and consolidated financial statements were:
(Rs.in Millions)
|
Standalone |
Consolidated |
| Net profit for the year |
121,353 |
122,296* |
| Balance of Reserves at the beginning of the year |
441,458 |
538,052 |
| Balance of Reserves at the end of the year |
532,543 |
643,066 |
* Excluding non-controlling interest
For complete details on movement in Reserves and Surplus during the
financial year ended March 31, 2022, please refer to the Statement of Changes in Equity
included in the Standalone and Consolidated financial statements on page nos. 151 to 152
and 225 to 226 respectively of this Annual Report.
Share Capital
During the financial year 2021-22, the Company allotted 2,931,560
equity shares consequent to exercise of employee stock options. The equity shares
allotted/transferred under the Employee Stock Option Schemes rank pari-passu with the
existing equity shares of the Company. The paid-up equity share capital of the Company as
of March 31,2022, stood at Rs.10,964 million consisting of 5,482,070,115 equity shares of
Rs.2/- each.
Subsidiaries and Associates
As on March 31,2022, your Company had 140 subsidiaries and 1 associate.
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 nos. 293 to 298 of this Annual Report. The statement also provides
details of performance and financial position of each of the subsidiaries and associates.
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 https://www.wipro.com/investors/annual- reports.
Your Company funds its subsidiaries, from time to time, in the ordinary
course of business and as per the funding requirements, through equity, loan, guarantee
and/or other means to meet working capital requirements.
In terms of the Company's Policy on determining "material
subsidiary", during the financial year ended March 31, 2022, Wipro LLC was determined
as a material subsidiary whose income exceeds 10% of the consolidated income of the
Company in the immediately preceding financial year. Further details on the subsidiary
monitoring framework have been provided as part of the Corporate Governance report.
On June 23, 2021, Wipro IT Services, LLC, a wholly owned step-down
subsidiary of your Company issued US$ 750 million in USD-denominated, senior unsecured
notes (the "Notes"). The Notes bear interest at a rate of 1.50% per annum and
will mature on June 23, 2026. These Notes are unconditionally and irrevocably guaranteed
by your Company.
Particulars of Loans, Guarantees and Investments
Pursuant to Section 186 of the Companies Act, 2013 and Schedule V of
the Listing Regulations, disclosure on particulars relating to Loans, Guarantees and
Investments are provided as part of the financial statements.
II. BUSINESS AND OPERATIONS
Celebrating over 75 years of innovation, your Company is a
purpose-driven, global technology services and consulting firm with over 240,000 employees
and business partners across 66 countries helping our customers, communities and planet
thrive in the digital world.
Your Company is recognized globally for its strong commitment to
sustainability. Your Company nurtures inclusivity as an intrinsic part of its culture.
It's deep resolve to improve the communities we live and work in, is appreciated by
its customers, investors, analysts, and employees.
Your Company's technologists, designers, strategists, and business
partners, share an unwavering commitment to achieving its customer's ambitions and
creating a humane, sustainable, and resilient future for all. Your Company's
recognized capabilities across 26 industry segments in digital strategy, Wipro's
FullStride cloud services, engineering, artificial intelligence ("AI"), and
cyber security, have established it as a trusted leader in orchestrating transformation.
Your Company's holistic portfolio of capabilities and ability to
navigate vertically and horizontally across ecosystems helps its clients achieve
differentiation and competitive advantage. Your Company's focus is to maximize
business outcomes by converging themes across industry domains, products, services, and
partners as it develops and delivers tailored business solutions for its clients.
Your Company helps orchestrate the transformation journey for its
clients by bringing together technology, industry expertise and ecosystems to solve
complex problems and deliver value through holistic business solutions that drive
outcomes. Your Company's simplified operating model and integration of consulting and
technology practices strengthens its ability to deliver such solutions effectively and at
scale. Your Company is focused towards building long-term relationship with customers and
tightly aligned visions and outcomes structured through a highly governed and co-managed
engagement process.
The rise of Environmental, Social and Governance ("ESG")
factors is redefining and elevating sustainability across industries. Your Company is a
founding member of the ‘Transform to Net ZeroRs.initiative and is committed to
contribute to the goal of planetary zero-carbon emissions. Your Company is also committed
to bringing its expertise in strategy, design, and technology to help transform its
customers and sectors of the global economy to sustainable business models, products,
services, and ecosystems.
Your Company's IT services segment provides a range of IT and
IT-enabled services which include, digital strategy advisory, customer-centric design,
technology consulting, IT consulting, custom application design, development,
re-engineering and maintenance, systems integration, package implementation, global
infrastructure services, analytics services, business process services, research and
development, hardware, and software design, to leading enterprises worldwide.
Your Company's IT products segment provides a range of third-party
IT products, which allows us 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 provides IT products as a complement to its IT services offerings rather than
sell standalone IT products, and its focus continues to be on consulting and digital
engagements, with a more selective approach in bidding for system integration engagements.
Your Company's ISRE segment consists of IT services offerings to
organizations owned or controlled by the Government of India and/or any Indian State
Governments. Your Company's ISRE strategy focuses on consulting and digital
engagements, and it is selective in bidding for system integration projects with long
working capital cycles.
Further information on your Company's IT services and products
offerings, industry and business overview are presented as part of the Management
Discussion and Analysis Report ("MD & A Report") from page no. 28 onwards.
Material Changes and Commitments Affecting the Business Operations and
Financial Position of the Company
Despite the COVID-19 pandemic adversely impacting trade, supply chains,
business models, employment and consumer behaviors, economies and industries are
witnessing a strong yet imbalanced recovery.
The pandemic has rapidly accelerated digital transformation for many
organizations and has led to the adoption of digital business models driven by online
customer service, remote working, supply chain reinventions, and automation for
operational excellence.
Owing to the accelerated rates of vaccination, it's effectiveness,
and the reduction in mobility restrictions, most economies are expected to reach its
pre-pandemic levels. The consumption demand has improved; however, the recovery is uneven
due to factors like imbalanced labor market, global supply chain disruptions,
geo-political conflicts, inflation, and the dearth of talent. There is no direct impact on
business from the ongoing geo-political conflict between Russia and Ukraine, however, your
Company continues to monitor these developments.
The continuous increase in demand for skilled talent has been building
pressure on IT services providers amidst a significant increase in hiring, salary hikes
and higher subcontracting costs.
Additional information regarding your Company's business
operations and financial position are provided as part of the MD & A Report from page
no. 28 onwards.
Outlook
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.
Various industries across the world have struggled to adapt to the
extraordinary circumstances caused by the COVID-19 pandemic. With increased consumer
spending, the IT industry recorded its highest year-on-year growth ever. This disruption
has created space to drive innovation in services and products such as telehealth, online
shopping experience enhanced with augmented reality ("AR")/ virtual reality
("VR"), digital payments, and virtual learning solutions. While the IT industry
is witnessing an unprecedented demand, supply remains constrained and talent recruitment
and retention continues to be a key concern along with current geo-political situation and
rising inflation.
Companies are investing in large and complex cloud migration and
transformation programs, creating multi-year opportunities for consulting services and
implementation. Due to increased demand for hyper personalized products and services, next
generation technologies such as data and AI mixed reality, digital engineering,
blockchain, multi- cloud, cyber security, edge computing, and 5G are expected to grow.
Acquisitions, Divestments, Investments and Mergers
Your Company's strategy supports value creation for clients and
growth for the organization through five strategic priorities: accelerate growth,
strengthen clients and partnerships, lead with business solutions, building talent at
scale, and a simplified operating model. Your Company focusses its efforts and investments
on maximum results, going deeper in areas that it believes it has the strength and
defocusing on others, and scaling up to secure leadership positions.
Your Company's new strategy will bring it closer to clients, drive
greater agility and responsiveness and help us become the employer of choice. Further,
your Company had invested in acquiring new technology and skills.
Details of the acquisitions completed by your Company are listed below:
a) In April 2021, your Company acquired Capco and its subsidiaries, a
global management and technology consultancy, providing digital, consulting and technology
services to financial institutions in the Americas, Europe, and the Asia Pacific.
b) In August 2021, your Company acquired Ampion Holdings Pty Ltd and
its subsidiaries, an Australia- based provider of cyber security, DevOps, and quality
engineering services.
c) In December 2021, your Company acquired Edgile, LLC, a
transformational cyber security consulting provider that focuses on risk and compliance,
information and cloud security, and digital identity.
d) In December 2021, your Company acquired LeanSwift Solutions, Inc.
and its subsidiaries, a system integrator of Infor Products whose service capabilities
include ERR e-commerce, digital transformation, supply chain, warehouse management
systems, business intelligence and integrations.
e) In January 2022, your Company completed the acquisition of an
additional equity stake of 13.3% in Encore Theme Technologies Private Limited. Consequent
to the acquisition of the aforesaid additional equity stake, your Company's holding
increased from 83.4% to 96.7%. The remaining 3.3% equity stake will be acquired subject to
and after receipt of certain regulatory approvals.
f) In April 2022, your Company acquired Convergence Acceleration
Solutions, LLC, a US-based consulting, and program management company that specializes in
driving large-scale business and technology transformation for Fortune 100 communications
service providers.
g) In May 2022, your Company acquired Rizing Intermediate Holdings,
Inc. and its subsidiaries, a global SAP consulting firm with industry expertise and
consulting capabilities in enterprise asset management, consumer industries, and human
experience management in North America, Europe, Asia, and Australia.
h) Wipro Ventures, the strategic investment arm of Wipro, invests in
enterprise software startups. These investments span across the Enterprise IT stack, and
include areas like Analytics, Business Automation, Cloud Infrastructure, Cyber security,
Data Management, IoT and Test Automation, among others. As of March 31, 2022, Wipro
Ventures has invested in 25 companies, of which 6 have exited through successful M&A
transactions. In addition to direct equity investments in emerging startups, Wipro
Ventures has invested in 8 enterprise-focused venture funds: B Capital, Boldstart
Ventures, Glilot Capital Partners, WorkBench, Nexus Venture Partners, Sorenson Ventures,
SYN Ventures and TLV Partners.
i) During the financial year 2021-22, your Company has carried out the
merger of Wipro do Brasil Servicos de Tecnologia Ltda, Brazil with and into Wipro do
Brasil Technologia Ltda, Brazil.
j) During the financial year 2021-22, seven subsidiaries of your
Company i.e., Wipro Promax Analytics Solutions Americas, LLC, Rational Consulting
Australia Pty Ltd., Designit Colombia S A S, Wipro Technologies VZ, C.A, Designit Peru
S.A.C, Capco Sweden AB and Wipro Corporate Technologies Ghana Limited were de- registered.
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 MD & A Report. The MD & A report,
capturing your Company's performance, industry trends and other material changes with
respect to your Company's and its subsidiaries, wherever applicable, are presented
from page no. 28 onwards of this Annual Report.
The MD & A Report provides a consolidated perspective of economic,
social, and environmental aspects material to your Company's strategy and its ability
to create and sustain value to its key stakeholders and includes aspects of reporting as
required by Regulation 34 of the Listing Regulations on Business Responsibility and
Sustainability Report.
Business Responsibility & Sustainability Report
Pursuant to Regulation 34(2)(f) of the Listing Regulations, your
Company is providing the prescribed disclosures on ESG parameters as part of the Business
Responsibility and Sustainability Report ("BRSR"), as provided from page nos.
370 to 388 of this Annual Report. The BRSR includes details on performance against the
nine principles of the National Guidelines on Responsible Business Conduct and a report
under each principle, which is divided into essential and leadership indicators. Your
Company has adopted the BRSR voluntarily for the financial year 2021-22.
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 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, Company Secretaries, on compliance with corporate
governance norms under the Listing Regulations, is provided at page no. 116 onwards.
Board of Directors
Board's 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 31,2022, the
Board comprised of two Executive Directors, six Non-Executive Independent Directors and
one Non-Executive Non-Independent Director.
Definition of ‘IndependenceRs.of Directors is derived from
Regulation 16 of the Listing Regulations, New York Stock Exchange ("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 and
Regulation 25(8) of the Listing Regulations, from the Independent Directors stating that
they meet the prescribed criteria for independence. The Board, after undertaking
assessment and on examination of
the relationships disclosed, considered the following Non- Executive
Directors as Independent Directors:
Ms. Ireena Vittal
Mr. William Arthur Owens
Dr. Patrick J. Ennis
Mr. Patrick Dupuis
Mr. Deepak M. Satwalekar
Ms. Tulsi Naidu
AH Independent Directors have affirmed compliance to the code of
conduct for independent directors as prescribed in Schedule IV to the Companies Act, 2013.
Meetings of the Board
The Board met six times during the financial year 2021-22 on April
14-15, 2021, June 9, 2021, July 14-15, 2021, October 12-13, 2021, January 1 1-12, 2022,
and March 25, 2022. The necessary quorum was present for all the meetings. The maximum
interval between any two meetings did not exceed 120 days.
Directors and Key Managerial Personnel
Pursuant to the recommendation of the Board Governance, Nomination and
Compensation Committee, the Board approved re-appointment of Dr. Patrick J. Ennis (DIN:
07463299) and Mr. Patrick Dupuis (DIN: 07480046) as Independent Directors of the Company
for a second term of 5 years with effect from April 1, 2021 to March 31, 2026, based on
their skills, experience, knowledge, and positive outcome of performance evaluation. The
said re-appointment was approved by shareholders of the Company vide special resolutions
dated June 4, 2021, passed through postal ballot by e-voting.
Mr. M. K. Sharma retired as Independent Director from the Board of the
Company with effect from June 30, 2021. The Board places on record the immense
contributions made by Mr. M.K. Sharma to the growth of your Company over the years.
Pursuant to the recommendation of Board Governance, Nomination and
Compensation Committee, the Board, on May 13, 2022, approved the appointment of Ms. Tulsi
Naidu (DIN: 03017471) as an Additional Director in the capacity of Independent Director
for a term of 5 years with effect from July 1, 2021, to June 30, 2026, subject to approval
of the shareholders of the Company. At the 75th Annual General Meeting ("AGM")
held on July 14, 2021, the shareholders of the Company approved the appointment of Ms.
Tulsi Naidu as an Independent Director of the Company for a period of five years from July
1, 2021 to June 30, 2026, whose office shall not be liable to retire by rotation.
In the opinion of the Board, all our Independent Directors possess
requisite qualifications, experience, expertise and hold high standards of integrity for
the purpose of Rule 8(5)(iii)(a) of the Companies (Accounts) Rules, 2014. List of key
skills, expertise, and core competencies of the Board, including the Independent
Directors, is provided at page no. 119 of this Annual Report.
Pursuant to the provisions of Section 152 of the Companies Act, 2013
and the Articles of Association of the Company, Mr. Azim H. Premji (DIN: 00234280) will
retire by rotation at the 76th AGM and being eligible, has offered himself for
re-appointment.
Committees of the Board
Your 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. Administrative and Shareholders/Investors Grievance Committee
(Stakeholders Relationship Committee).
Details of terms of reference of the Committees, Committee membership
changes, and attendance of Directors at meetings of the Committees are provided in the
Corporate Governance report from page nos. 123 to 126 of this Annual Report.
Board Evaluation
In line with the Corporate Governance Guidelines of the Company, Annual
Performance Evaluation was conducted for all Board Members as well as the working of 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, 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 a 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 the financial year 2021-22 was
discussed by the Board Governance, Nomination and Compensation Committee and the Board at
their respective meetings held in April 2022. The Board has received highest ratings on
Board communication and relationships, legal and financial duties of the Board and
Composition and Role of the Board. 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 includes big strategic choices, strategic
engagements, and decisions on long term ambitions.
Policy on Director's Appointment and Remuneration
The Board Governance, Nomination and 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-policv.pdf. We affirm that the remuneration paid to
Directors, senior management and other employees is in accordance with the remuneration
policy of the Company.
Policy on Board Diversity
The Board Governance, Nomination and Compensation Committee has framed
a policy for Board Diversity which lays down the criteria for appointment of Directors on
the Board of your Company and guides organization's approach to Board Diversity.
Your Company believes that Board diversity basis the gender, race, age
will help build diversity of thought and will set the tone at the top. A mix of
individuals representing different geographies, culture, industry experience,
qualification and skill set will bring in different perspectives and help the organization
grow. The Board of Directors is responsible for review of the policy from time to time.
The policy on Board Diversity has been placed on the Company's website at
https://www.wipro.com/investors/corporate-governance/ policies-and-guidelines/
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 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 all categories of risks within
the business. The framework has been benchmarked against the best-in-class industry
practices and continuously strengthened. The framework has been digitized enabling
businesses to take faster, informed and quality decisions, encouraging a risk resilient
culture. The ERM framework is administered by the Audit, Risk and Compliance Committee and
supported by a multi layered risk governance structure across the enterprise. For more
details on the Company's risk management framework, please refer to page nos. 42 to
44 of this Annual Report.
Cyber Security
Being an IT & ITES service provider, your Company's dependency
on secured digital infrastructure, to interconnect offices, employee systems, partners and
clients for the day-to-day business operations, are susceptible to potential cyber
event(s) impacting confidentiality, integrity and availability of our technology
environment. The cyber event(s) may lead to disclosure of data, breach of privacy or
security impacting reputation, trust, revenue, through legal, regulatory and contractual
obligations. Such event(s) may directly impact us and our relationships with our clients
and partners.
Also, due to geopolitical conflicts such as the recent conflict between
Russia and Ukraine, your Company and its third- party business providers are vulnerable to
a heightened risk of cyber security attacks, phishing attacks, viruses, malware,
ransomware, hacking or similar breaches from any nation- state actors, including attacks
that could materially disrupt your Company's systems and operations, supply chain,
and ability to sell and distribute your Company's services.
In view of increased cyber attack scenarios, the cyber security
maturity is reviewed periodically and the processes, technology controls are being
enhanced in-line with the threat scenarios. Your Company's technology environment is
enabled with real time security monitoring with requisite controls at various layers
starting from end user machines to network, application and the data. Programs to
continuously monitor the effectiveness of the controls are implemented to effectively
sustain the security controls along with focus on continuous improvement of the efficacy
of the security controls with the adoption of new processes and latest technology
solutions.
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 the 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
Your Company has adopted a Code of Conduct to regulate, monitor and
report trading by designated persons and their immediate relatives as per the requirements
under the Securities and Exchange Board of India (Prohibition of Insider Trading)
Regulations, 2015. This Code of Conduct also includes code for 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/investors/corporate-governance/ policies-and-guidelines/
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, Regulation 22 of the Listing Regulations and
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
incidence of fraudulent financial or other information to the stakeholders, reporting of
instance(s) of leak or suspected leak of unpublished price sensitive information 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 employee who
reports under the Vigil Mechanism or participates in the investigation.
Awareness of policies is created by, inter alia, sending group mailers
highlighting actions taken by the Company against the errant employees. Mechanism followed
under the Ombuds process has been displayed on the Company's intranet and website at
https://www.wipro.com/investors/ corporate-governance/policies-and-guidelines/
All complaints received through Ombuds process and investigative
findings are reviewed and approved by the Chief Ombuds person. All employees and
stakeholders can also register their concerns either by sending an email to
ombuds.person@wipro.com or through web-based portal at
https://www.wipro.com/investors/corporate-governance/ policies-and-guidelines/ Following
an investigation of the concerns received, a decision is made by the appropriate authority
on the action to be taken basis the findings of the investigation. In case the complainant
is non-responsive for more than 15 days, the concern may be closed without further action.
The below table provides details of complaints received/ disposed
during the financial year 2021-22:
| No. of complaints pending at the beginning of financial year |
44 |
| No. of complaints filed during the financial year |
939 |
| No. of complaints disposed during the financial year |
901 |
| No. of complaints pending at the end of the financial year |
82 |
AH cases were investigated, and actions taken as deemed appropriate.
Based on self-disclosure data, 18% of these cases were reported anonymously. The top
categories of complaints were non-adherence to internal policy/process at 52%, followed by
workplace concerns and behavioral issues at 34%. The majority of cases (79%) were resolved
through engagement of human resources or mediation or closed since they were
unsubstantiated.
The Audit, Risk and Compliance Committee periodically reviews the
functioning of this mechanism. No personnel of the Company were denied access to the
Audit, Risk and Compliance Committee.
Information Required under Sexual Harassment of Women at Workplace
(Prevention, Prohibition & Redressal) Act, 2013
Your Company has constituted an Internal Complaints Committee, under
the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013 and has a policy and framework for employees to report sexual harassment cases at
workplace. The Company's process ensures complete anonymity and confidentiality of
information. Adequate workshops and awareness programmes against sexual harassment are
conducted across the organization. The below table provides details of complaints
received/disposed during the financial year 2021-22.
| Number of complaints at the beginning of the financial year |
14 |
| No. of complaints filed during the financial year |
41 |
| No. of complaints disposed during the financial year |
42 |
| No. of complaints pending at the end of the financial year |
13 |
As per the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013, your Company follows calendar year for annual
filling with statutory authority and as per the filing, a total of 37 complaints related
to sexual harassment were raised in the calendar year 2021.
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. The policy on related party transactions has been placed on the
Company's website at https://www.wipro.com/content/
dam/nexus/en/investor/corporate-governance/policies-
and-guidelines/ethical-guidelines/policy-for-related- partv-transactions.pdf.
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.
There were no contracts, arrangements or transactions entered during
financial year 2021-22 that fall under the scope of Section 188(1) of the Companies Act,
2013. Accordingly, the prescribed Form AOC-2 is not applicable to the Company for the
financial year 2021-22 and hence does not form part of this report.
Details of transaction(s) of your Company with entity(ies) belonging to
the promoter/promoter group which hold(s) more than 10% shareholding in the Company as
required under para A of Schedule V of the Listing Regulations are provided as part of the
financial statements.
Pursuant to Regulation 23(9) of the Listing Regulations, your Company
has filed the reports on related party transactions with the Stock Exchanges.
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.
f) 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/ 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 the Securities and Exchange Board of
India (Share Based Employee. Benefits and Sweat Equity) Regulations, 2021, as amended
("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, number of shares arising as a result of exercise of options, etc., as required
under the Employee Benefits Regulations, are available on the Company's website at
https://www.wipro.com/content/ dam/nexus/en/investor/annual-reports/2021 -202 2/
disclosure-under-sebi-share-based-emplovee-benefits-
and-sweat-equity-regulations-2021-for-the-year-ended- march-31-2022.pdf.
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
Information 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 I 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 Rs.102 lakh or more and, employees employed for part of the
year and in receipt of remuneration of Rs.8.50 lakh or more per month, pursuant to Rule
5(2) the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is
provided as Annexure II 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 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 Audit
Deloitte Haskins & Sells LLP Chartered Accountants (Registration
No. 117366W/W-100018) have been appointed as the statutory auditors to hold the office
till the conclusion of the 76th AGM of the Company. The Board has recommended their
re-appointment as the statutory auditors of the Company, for a second term of five
consecutive years, from the conclusion of the 76th AGM scheduled to be held in the year
2022 till the conclusion of the 81st AGM to be held in the year 2027, for approval of
shareholders of the company at the ensuing AGM, based on the recommendation of the Audit,
Risk and Compliance Committee. Deloitte Haskins & Sells LLP have confirmed that they
satisfy the independence criteria required under the Companies Act, 2013 and other
applicable guidelines and regulations.
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 31,2022.
Pursuant to provisions of the Section 143(12) of the Companies Act,
2013, neither the Statutory Auditors nor the Secretarial Auditor has 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, a firm
of Company Secretaries in Practice, to conduct Secretarial Audit of the Company. The
Report of the Secretarial Audit in Form MR-3 for the financial year ended March 31, 2022,
is enclosed as Annexure III to this Report. There are no qualifications, reservations or
adverse remarks made by the Secretarial Auditor in his report.
V. KEY AWARDS AND RECOGNITIONS
Your Company is one of the most admired and recognized companies in the
IT industry. Your Company has won several awards and accolades, details of which are
provided at page no. 17 of this Annual Report.
VI. SOCIAL RESPONSIBILITY AND SUSTAINABILITY
Corporate Social Responsibility
Your Company is at the forefront of Corporate Social Responsibility and
sustainability initiatives and practices. Your Company believes in contributing to
creating lasting impact towards creating a more just, equitable, humane, and sustainable
society.
Your Company has been involved with social initiatives for more than a
decade and a half and engages in a deep and meaningful manner on critical issues in the
fields of education, primary healthcare, urban ecology, and disaster response.
Your company works with a network of more than 200 committed partner
organizations in these domains. Some of the highlights of the work for the past year
include:
(i) Simultaneous focus on access and inclusion in schools for children
from vulnerable communities in combination with systemic, long term reforms in education.
There is a conscious focus in the current projects on children with disability and for
supporting government school infrastructure.
(ii) Wipro-earthian, a flagship program in sustainability education
with an outreach to nearly 1,500 schools and colleges across 30 states in India.
(iii) Expansion and strengthening of work in primary health care with
focus on Reproductive Health, Maternal, Infant and Child Care.
(iv) Active portfolio of projects that aim to improve urban water
governance and management in Bengaluru, Pune, Chennai, and Hyderabad.
(v) A model of robust employee volunteering and monetary contribution
with more than 35,000 employee volunteers in India, Philippines, US, UK, Romania, Poland,
Singapore, Australia, etc.
Continuing from last year, your Company provided Covid grants during
the peak of the second wave (April-July 2021) supporting the field work of some of its
existing partners with whom it had already worked in 2020. The grants included support for
running the Covid center at the Commonwealth Games village in New Delhi.
A key highlight is that your Company continued to run its Pune Covid
hospital till end of December 2021, when the Pune district administration suggested it be
wound down due to the low number of cases. Over a period of 18 months, the hospital
admitted over 6,400 patients, with a case fatality rate of 0.16%. Your Company's
support included 35,000 sq. ft of hospital space, 450 beds, medical equipment including
ventilators, a separate pediatric ward, a 250 litre per minute oxygen plant, ambulances,
food for all patients and staff, boarding for all doctors and nurses, the services of the
hospital CEO, critical medicines, and maintenance services.
Your Company also continued to support the Global Covid Care and
Medical Consortium ("GCCMC"), a virtual platform that accelerates knowledge
sharing about critical aspects of Covid care amongst doctors and medical experts.
As per the provisions of the Companies Act, 2013, a company meeting the
specified criteria shall spend at least 2% of its average net profits for three
immediately preceding financial years towards CSR activities. Accordingly, your Company
spent Rs.2,216 million towards CSR activities during the financial year 2021-22.
The Board of Directors noted that your Company's CSR spend for the
year ended March 31, 2021, was Rs.2,512 million as against its obligation of Rs.1,656
million. An excess of Rs.856 million which was spent in the financial year 2021- 22 is
available for set-off. Considering that Rs.856 million can be set off in a time frame of
three immediately succeeding years, and pursuant to the recommendation by the Board
Governance, Nomination and Compensation Committee, the Board of Directors of your Company
approved the set off the excess spend, in equal proportion, over a period of next three
financial years.
The contents of the CSR policy and the CSR Report as per the format
notified in the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021
dated January 22, 2021, is attached as Annexure IV to this report. CSR policy is also
available on the Company's website at https://www.wipro.com/sustainabilitv-archive/.
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, Mr. William
Arthur Owens, Ms. lreena Vittal and Mr. Patrick Dupuis, as its members. Mr. William Arthur
Owens is the Chairman of the Committee.
We affirm that the implementation and monitoring of CSR activities is
in compliance with the Company's CSR objectives and policy.
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.
Foreign Exchange Earnings and Outgoings
During the financial year 2021-22, your Company's foreign exchange
earnings were Rs.548,490 million and foreign exchange outgoings were Rs.259,602 million as
against Rs.463,447 million of foreign exchange earnings and Rs.213,295 million of foreign
exchange outgoings for the financial year 2020-21.
VII. DISCLOSURES Annual Return
Pursuant to Section 92(3) and Section 134(3)(a) of the Companies Act,
2013, the Company has placed a copy of the Annual Return as of March 31, 2022, on its
website at https://www.wipro.com/content/dam/nexus/en/investor/
annual-reports/2021-2022/annual-return-fy21-22.pdf.
Other Disclosures
a) Your Company has not accepted any deposits from the 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.
b) Your Company has not issued shares with differential voting rights
and sweat equity shares during the year under review.
c) Your Company has complied with the applicable Secretarial Standards
relating to ‘Meetings of the Board of Directors' and ‘General Meetings' during
the year.
d) 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 to the business activities carried out by the Company.
e) There are no significant material orders passed by the
Regulators/Courts which would impact the going concern status of the Company and its
future operations.
f) Details of unclaimed dividends and equity shares transferred to the
Investor Education and Protection Fund authority have been provided as part of the
Corporate Governance report.
g) There are no proceedings initiated/pending against your Company
under the Insolvency and Bankruptcy Code, 2016 which materially impact the business of the
Company.
h) There were no instances where your Company required the valuation
for one time settlement or while taking the loan from the Banks or Financial institutions.
Acknowledgements and Appreciation
Your Directors take this opportunity to thank the customers,
shareholders, suppliers, bankers, business partners/associates, financial institutions and
Central and State Governments for their consistent support and encouragement to the
Company. I am sure you will join our Directors in conveying our sincere appreciation to
all employees of the Company and its subsidiaries and associates for their hard work and
commitment. Their dedication and competence have ensured that the Company continues to be
a significant and leading player in the IT Services industry.
For and on behalf of the Board of Directors,
| Bengaluru |
Rishad A. Premji |
| June 8, 2022 |
Chairman |
  Â
Wipro Ltd
Company Background
| Incorporation Year | 1945 |
| Registered Office | Doddakannelli,Sarjapur Road
Bangalore,Karnataka-560035 |
| Telephone | 91-80-28440011,Managing Director |
| Fax | 91-80-28440256 |
Rishad Azim PremjiThierry Delaporte| Company Secretary | M Sanaulla Khan |
| Auditor | Deloitte Haskins & Sells LLP |
| Face Value | 2 |
| Market Lot | 1 |
| Listing | BSE,MSEI ,New York,NSE, |
| Registrar | KFin Techologies Ltd
Karvy Selenium Tow-B,31&32 Financial Dist,Nanakramguda ,Hyderabad-500032 |
Wipro Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| Azim H Premji | Founder Chairman | 2022 |
| Ireena Vittal | Independent Director | 2022 |
| Rishad Azim Premji | Executive Chairman | 2022 |
| M Sanaulla Khan | Company Sec. & Compli. Officer | 2022 |
| Patrick Dupuis | Independent Director | 2022 |
| Patrick J Ennis | Independent Director | 2022 |
| Thierry Delaporte | Managing Director & CEO | 2022 |
| Deepak Satwalekar | Independent Director | 2022 |
| Tulsi Naidu | Independent Director | 2022 |
Wipro Ltd
Listing Information
| Listing Information |
|---|
| BSE_SENSEX |
| NIFTY |
| BSE_500 |
| BSE_IT |
| BSE_100 |
| BSE_200 |
| BSEDOLLEX |
| BSE_TECK |
| CNX500 |
| CNX_IT |
| CNX100 |
| CNXSERVICE |
| CNX200 |
| BSECARBONE |
| NIFTY50V20 |
| NI15 |
| NFT100EQWT |
| BSEALLCAP |
| BSELARGECA |
| NFTQULTY30 |
| SENSEX50 |
| ESG100 |
| LMI250 |
| BSEDSI |
| NFT50EQWT |
| NFT100LV30 |
| BSE100LTMC |
| NFTYLM250 |
| NF500M5025 |
Wipro Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Sale of Services | NA | 0 | 0 | 0 | 59095.6 |
| Sale of Products | NA | 0 | 0 | 0 | 478.8 |
| Spares/Components for Tippers | NA | 0 | 0 | 0 | 0 |
| Spares/Components for Tippers | NA | 0 | 0 | 0 | 0 |
| Miscellaneous Sales | NA | 0 | 0 | 0 | 0 |
| Post Sales Support & IT Serv. | Rs. | 0 | 0 | 0 | 0 |
| Processing & Service Charges | Rs. | 0 | 0 | 0 | 0 |
| CFL | No | 0 | 0 | 0 | 0 |
| Income From services | Rs. | 0 | 0 | 0 | 0 |
| IT Enabled Services | Rs. | 0 | 0 | 0 | 0 |
| Other Operating income | NA | 0 | 0 | 0 | 0 |
| Sales & Services | Rs. | 0 | 0 | 0 | 0 |
| Water Treatment Skids | No | 0 | 0 | 0 | 0 |
| Internet Service Provider | NA | 0 | 0 | 0 | 0 |
| Agency Commission | Rs. | 0 | 0 | 0 | 0 |
| Adjustment | NA | 0 | 0 | 0 | 0 |
| Vanaspati/Hydrogenated oils | MT | 0 | 0 | 0 | 0 |
| Glycerine | MT | 0 | 0 | 0 | 0 |
| Toiletries | NA | 0 | 0 | 0 | 0 |
| Toilet Soaps | MT | 0 | 0 | 0 | 0 |
| Reagent Kits/Spare(Analy.Inst) | No | 0 | 0 | 0 | 0 |
| Fatty Acids | MT | 0 | 0 | 0 | 0 |
| Shoe Uppers (Pairs) | No | 0 | 0 | 0 | 0 |
| TL Shells | No | 0 | 0 | 0 | 0 |
| Hydraulic & Pneumatic tubes | NPA | 0 | 0 | 0 | 0 |
| Mini Computer/Micro Processor | No | 0 | 0 | 0 | 0 |
| Mini Computer/Micro Processor | Rs. | 0 | 0 | 0 | 0 |
| Networking Storage equipment | NA | 0 | 0 | 0 | 0 |
| Tipping Gears | NPA | 0 | 0 | 0 | 0 |
| Software | Rs. | 0 | 0 | 0 | 0 |
| Software Services | Rs. | 0 | 0 | 0 | 0 |
| GLS Lamps | No | 0 | 0 | 0 | 0 |
| Lighting Products | NA | 0 | 0 | 0 | 0 |
| Fluorescent Tubelight | No | 0 | 0 | 0 | 0 |