Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. The company harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics, and emerging technologies to help our clients adapt to the digital world and make them successful.
A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, The company has over 180,000 dedicated employees serving clients across six continents.
Wipro Limited is a global information technology (“IT”), consulting and business process services (“BPS”) company. The company began business as a vegetable oil manufacturer in 1945 at Amalner, a small town in Western India and thereafter, forayed into soaps and other consumer care products.
- Turnover: Rs 61,138 Cr
- Market Cap: 126,889 Cr.
- Dividend Yield: 0.45 %
- ROCE: 19.16 %
- ROE: 17.26 %
- Sales Growth (3Yrs): 4.82 %
During the early 1980s, The company entered the Indian IT industry by manufacturing and selling mini computers. In the 1990s, The company leveraged hardware R&D design and software development expertise and began offering software services to global clients.
In 2013, The company demerged the non-IT Diversified Businesses. With a track record of
over 25 years in IT Services, we are, today, focused entirely on the global Information Technology business. Wipro is listed on the National Stock Exchange and Bombay Stock Exchange in India and New York Stock Exchange in the US. The company business comprises of the
- IT Services,
- IT Products and
- ISRE segments
- Application Services
Products of Wipro Ltd
The Company Products comprises of the IT Services, IT Products and ISRE segments. The ISRE segment consists of IT services offerings to ISRE Customers. The following are the Products and Services from Wipro.
- IT Services Offerings
- Application Services
- Digital Services
- Cloud Enterprise Platforms (“CEP”)
- Cloud and Infrastructure Services (“CIS”)
- Industrial and Engineering Services (“IES”)
- Data, Analytics and AI (“DAAI”)
- Cybersecurity and Risk Services (“CRS”)
- Digital Operations and Platforms (“DOP”)
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 (“MFG”)
- Technology (“TECH”)
- Communications (“COMM”)
Rishad A Premji Chairman
Rishad Premji is the Chairman of Wipro Limited. He was until recently the Chief Strategy Officer, responsible for shaping Wipro’s strategy to drive sustained and profitable growth. Rishad was also responsible for Investor Relations and all Government relations activities for the company.
As the Chief Strategy Officer, he led Wipro’s M&A Strategy and conceptualized Wipro Ventures – a $100 million fund to invest in start-ups developing technologies and solutions that will complement Wipro’s businesses with next-generation services and products.
Rishad is on the Board of Wipro Enterprises Limited, a leading player in FMCG & infrastructure engineering and Wipro-GE, a joint venture between Wipro and General Electric in the healthcare domain.
He is also on the Board of the Azim Premji Foundation, one of the largest not-for-profit initiatives in India. The Foundation, which is focused on improving public school education, works with over 350,000 government schools across seven states in India. Separately, he is also on the Board of Azim Premji Philanthropic Initiatives, which provides grants to organizations that contribute to social change.
For financial year 2018-19, Rishad was the Chairman of NASSCOM, the trade body of India’s $170 billion software industry. Prior to joining Wipro Limited in 2007, Rishad was with Bain & Company in London, working on assignments across consumer products, automobiles, telecom and insurance industries. He also worked with GE Capital in the US in the insurance and consumer lending space and is a graduate of GE’s Financial Management Program (FMP).
Rishad has an MBA from Harvard Business School and a BA in Economics from Wesleyan University in the US. In 2014, he was recognized as a Young Global Leader by the World Economic Forum for his outstanding leadership, professional accomplishments, and commitment to society.
Azim H Premji Founder
Azim Premji, a graduate in Electrical Engineering from Stanford University, USA, has been at the helm of Wipro Limited since the late 1960s, turning what was then a $2 million hydrogenated cooking fat company into close to $8.5 billion Revenue IT, BPO and R&D Services organization with a presence in 58 countries.
Other companies of the Wipro group led by Premji, have revenues of close to $2 billion, spanning successful businesses across consumer goods, precision engineering and healthcare systems.
Premji has been driven by one fundamental business idea – to build an organization deeply committed to Values with the Client as the focus of all efforts.
Unflinching commitment to Values continues to remain at the core of Wipro. Premji strongly believes that ordinary people are capable of extraordinary things when organized into highly charged teams.
Wipro’s success has been driven by its cutting-edge expertise in technology and understanding of global industries, which deliver real business value to its clients innovatively and consistently. This innovation and consistency is driven by its pioneering efforts in technology, service quality and predictability.
Premji firmly believes that businesses have a deep responsibility to employ ethical, fair and ecologically sensitive business practices, and also to actively engage with fundamental societal issues. Wipro’s deep and focused social and environmental initiatives span the countries across its operational footprint, leading to Wipro being recognized as a global leader in Sustainability.
In 2001, Premji established the Azim Premji Foundation, a not-for-profit organization, with a vision of enhancing quality and equity in the public school education system in India, to build a better society. The Foundation works in 7 states of India which have over 350,000 schools.
It also runs the Azim Premji University, which is focused on teaching and research programs in Education and other areas of Human Development. Azim Premji Philanthropic Initiatives supports not-for-profits, through financial grants, which work in areas of human development complementing education, such as nutrition, local governance, and well-being of vulnerable groups. Premji’s donations to the endowment of the Foundation, at USD 15 Billion, make it one of the largest Foundations in the world.
Over the years, Azim Premji has received numerous honors and accolades, which he considers as recognitions for the team of Wipro and the Foundation. BusinessWeek listed him amongst the top 30 entrepreneurs in world history.
Financial Times, Time, Fortune and Forbes have all named him as of one the most influential people in the world, citing his leadership in business and philanthropy, including the contributions to improving public education. The Journal of Foreign Policy has listed him amongst the top global thinkers. Economic Times bestowed Mr. Premji with the Life Time Achievement Award.
Premji is the first Indian recipient of the Faraday Medal and has been conferred with honorary doctorates by the Michigan State University and Wesleyan University (in the US), and the Indian Institutes of Technology at Bombay, Roorkee and Kharagpur amongst others. The Republic of France has conferred upon him their highest civilian award, “Knight of the Legion of Honor”.
He was conferred in January 2011 with the Padma Vibhushan, the second highest civilian award in India. The Carnegie Medal of Philanthropy was bestowed on him in 2017, hailing the “conscience, integrity, and compassion that have guided his visionary giving…….(with) invaluable benefit to both that nation and to the world.”