By Mr. Abhay Ray 
Introduction to Wipro
Wipro Limited is an Indian multinational technology company based in Bangalore, Karnataka. It provides information technology, consulting and business process services. It is one of the six leading Indian Big Tech companies. Wipro’s capabilities range across cloud computing, computer security, digital transformation, artificial intelligence, robotics, data analytics, and other technologies, servicing customers in 167 countries.
Incorporation
The Wipro Founded 29 December 1945, by Azim Premji, Headquarters Sarjapur Road Bangalore, India, The company was incorporated on 29 December 1945 in Amalner by MH Hasham Premji as Western India Vegetable Products Limited, a manufacturer of cooking oils. In 1966, after Hasham Premji’s death, his son Azim Premji dropped out of Stanford University and took over as chairperson at age 21.
Worldwide Locations – Wipro Company services worldwide, including the India, Asia pacific, Americas, Africa, Europe, Middle East.
Mission / Vision
Vision of Wipro Limited emphasizes innovation, sustainability, and customer-centricity, positioning the company as a leader in the global IT services industry.The vision is to leverage innovation and technology to create a sustainable and inclusive future. Its mission is to enable businesses to thrive by offering top-notch solutions and services. Additionally, Wipro aims to be a global leader in discrete automation solutions for the industrial sector.
Founder Details
Azim Hashim Premji born 24 July 1945 the Founder Chairman of Wipro Limited is an Indian business tycoon, investor, engineer, and philanthropist. In 1966, Azim Premji after his father’s death returned to India from the USA and took the charge of Wipro.
- Azim Premji -Education / Career
In 1945, Muhammed Hashim Premji incorporated Western Indian Vegetable Products Ltd, based at Amalner, a small town in the Jalgaon district of Maharashtra. In 1966, on the news of his father’s death, the then 21-year-old Azim Premji returned home from Stanford University, where he was studying engineering, to take charge of Wipro. The company, which was called Western Indian Vegetable Products at the time, dealt in hydrogenated oil manufacturing but Azim Premji later diversified the company to bakery fats, ethnic ingredient based toiletries, hair care soaps, baby toiletries, lighting products, and hydraulic cylinders. In the 1980s, the young entrepreneur, recognising the importance of the emerging IT field, took advantage of the vacuum left behind by the expulsion of IBM from India, changed the company name to Wipro and entered the high-technology sector by manufacturing minicomputers in technological collaboration with an American company Sentinel Computer Corporation. Thereafter, Premji made a focused shift from soaps to software.
- Awards and Achievements
In 2005, the Government of India honoured him with the title of Padma Bhushan for his outstanding work in trade and commerce. In 2011, he has been awarded Padma Vibhushan, the second-highest civilian award by the Government of India. In April 2017, India Today magazine ranked him 9th in India’s 50 Most powerful people of 2017 list. In 2018, Premji was conferred with Chevalier de la Légion d’Honneur (Knight of the Legion of Honour) – the highest French civilian distinction by the French Government. In December 2019, Premji was cited by Forbes magazine as one of the “Heroes of Philanthropy list of 30 altruists” in the Asia-Pacific region. In 2019, Forbes put Premji in the list of the world’s most generous philanthropists outside of the US
Product and Services of Wipro
Wipro Ltd Products comprises of the IT Services, IT Products and ISRE segments.
- The ISRE segment consists of IT services offerings to ISRE Customers
IT Services Offerings, Application Services, Digital Services, Cloud Enterprise Platforms, Cloud and Infrastructure Services, Industrial and Engineering Services, Data, Analytics and AI, Cyber security and Risk Services, Digital Operations and Platforms, and many more
- IT Services Industry Verticals
The Company IT Services business is organized into seven industry verticals: Banking, Financial Services and Insurance (“BFSI”); Health Business Unit (“Health BU”) Consumer Business Unit (“CBU”) Energy, Natural Resources and Utilities (“ENU”) Manufacturing; Technology and Communications.
IPO Details of Wipro
Wipro’s Initial Public Offering was in the year 1946. In October 2000, Wipro raised gross aggregate proceeds of approximately US$131 million in initial U.S. public offering of its American Depositary Shares (“ADSs”) on the New York Stock Exchange. Wipro’s equity shares have been listed on Bombay Stock Exchange since 1946 and the National Stock Exchange of India where it is a constituent of the NIFTY 50. The American Depository Shares of the company are listed on the New York Stock Exchange (NYSE) since October 2000.As of March 2024, the promoter group headed by Azim Premji held a 72.88% stake in the company, while the remaining shares were with public shareholders and an employee trust.
Wipro – Growth & Revenue
Wipro’s revenue for the quarter ending September 30, 2024 was $2.663B, a 1.7% decline year-over-year. The revenue for the twelve months ending September 30, 2024 was $10.791B, a 2% decline year-over-year. Wipro’s annual revenue for 2024 was $10.77B, a 2.19% decline from 2023, annual revenue for 2023 was $11.011B, a 5.62% increase from 2022, Annual revenue for 2022 was $10.425B, a 23.1% increase from 2021.
Wipro’s net income for the quarter ending September 30, 2024 was $0.383B, a 6.98% increase year-over-year. The net income for the twelve months ending September 30, 2024 was $1.410B, a 2.1% increase year-over-year. Wipro’s annual net income for 2024 was $1.325B, a 4.06% decline from 2023, Annual net income for 2023 was $1.381B, a 14.22% decline from 2022, Annual net income for 2022 was $1.61B, a 9.08% increase from 2021.
Wipro – Acquisitions
Wipro has completed 30 acquisitions with an average acquisition amount of $231M. Wipro’s most recent acquisition – AVT is a Provider of business strategy, operational, supply chain, technology, and other consulting services, founded in 2021 and located in Boston. Wipro acquired a 100% stake in it in December 2024 for a price of $40M.
|
Acquired Date |
Acquired Company | Acquisition Price |
| Dec 16, 2024 | AVT |
$40M |
|
Feb 13, 2024 |
Aggne | $66M |
| Apr 26, 2022 | Rizing |
$540M |
|
Apr 11, 2022 |
CAS | …. |
| Dec 20.2021 | Edgile |
$230M |
Wipro – Awards and Recognitions
- Wipro Limited has been honored with the prestigious 2024 Intel Partner Award in the category of Outstanding Growth – Global Service Integrator.
- Wipro in partnership with BT is honored to receive the Gold Award for Best Innovation in CX at UK Customer Experience Awards 2024.
- Wipro is honored to receive the ‘Outstanding Partner’ award at the Singapore Airlines CEO Service Excellence Awards 2024 for the eighth consecutive year. …
- Wipro has won 2 awards at The North American Software Testing Awards (NASTA) 2023.
Competitors of Wipro
- Tata Consultancy Services
- Tech Mahindra and
- DXC Technology
- HCL Tech
- Infosys
Conclusion – Wipro Ltd. holds a significant position in the global IT landscape. The company’s major acquisitions and diverse subsidiaries highlight its expansive reach and commitment to innovation.Products like Wipro Smart Lighting and Wipro Digital emphasis their role in technological advancement. As you navigate the world of technology, consider Wipro Ltd. for reliable, advanced, and comprehensive solutions, reinforcing your journey towards a technologically progressive future.
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