Wipro Limited

What they do

Wipro provides IT services, including consulting, system integration, application development and maintenance, and business process services to clients worldwide. Revenue is organized across geographies such as the Americas, Europe, and Asia-Pacific/Middle East/Africa, and across industry verticals including banking, financial services and insurance, technology and communications, healthcare, and consumer. The company also has a smaller IT products segment. It operates through numerous subsidiaries globally, including Capco, Rizing, and Applied Value Technologies.

Revenue drivers

• IT Services — The core segment, generating revenue through time-and-materials and fixed-price contracts across the Americas, Europe, and Asia-Pacific/Middle East/Africa, and across verticals such as BFSI, technology and communications, healthcare, and consumer.
• Americas 1 and Americas 2 geographies — The largest geographic revenue contributors, serving clients in the Americas region across multiple industry verticals.
• IT Products — A smaller product-based segment supplying IT products, distinct from the services business.
• Sales of products within IT Services — Revenue from product sales associated with IT services engagements, included as a component of the IT Services segment.

Recent performance

The filing excerpts do not contain specific revenue, margin, or net income figures for the latest fiscal year. The 20-F covers the fiscal year ended March 31, 2026. Detailed financial results are not available in the provided excerpts.

Strategy

Wipro's strategy is not explicitly described in the available excerpts. The company operates through multiple subsidiaries and acquired entities, including Capco, Rizing, and Applied Value Technologies. The filing indicates a global delivery model with a presence across the Americas, Europe, and Asia-Pacific/Middle East/Africa. No specific strategic priorities or investments are detailed in the provided text.

Risks

• Geographic concentration — A significant portion of revenue comes from the Americas, exposing Wipro to regional economic and regulatory risks.
• Currency risk — The company has extensive foreign exchange forward and option contracts, indicating exposure to currency fluctuations across multiple currencies.
• Client and vertical concentration — Revenue is concentrated in a few large verticals such as BFSI and technology and communications, making it vulnerable to downturns in those sectors.
• Dependence on IT services demand — Wipro's core IT Services segment is subject to changes in technology spending and client budgets.

Outlook

Management's outlook for fiscal 2027 is not provided in the available excerpts. The filing does not include forward-looking guidance or commentary on future performance.