MIRA INFORM REPORT
|
Report Date : |
29.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
WIPRO LIMITED |
|
|
|
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Registered
Office : |
Doddakannelli, Sarjapur Road, Bangalore - 560035,
Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
29.12.1945 |
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Com. Reg. No.: |
08-20800 |
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Capital
Investment / Paid-up Capital : |
Rs.4917.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L32102KA1945PLC020800 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRW00415C |
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Legal Form : |
A Public Limited Liability Company.
The company’s shares are listed on the Stock Exchanges. |
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Line of Business
: |
Providing Services of IT and IS consulting for E-business
transformation, electronic commerce, web enabling, data warehousing and
customer relation's management. |
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|
|
|
No. of Employees
: |
14000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (81) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
Maximum Credit Limit : |
USD 974000000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a
well-established and reputed company having fine track. Financial position of the company appears
to be sound. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AAA |
|
Rating Explanation |
Having highest degree of safety regarding
timely servicing of financial obligation, it carry lowest credit risk. |
|
Date |
January, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A1 + |
|
Rating Explanation |
Having very strong degree of safety
regarding timely payment of financial obligation, it carry lowest credit
risk. |
|
Date |
January, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered/
Corporate Office : |
Doddakannelli, Sarjapur Road, Bangalore – 560 035, Karnataka, India |
|
Tel. No.: |
91-80-28440011 |
|
Fax No.: |
91-80-28440054 |
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E-Mail : |
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Website : |
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Software
Technology Parks: |
·
·
Chennai, Tamilnadu ·
Secunderabad, Andhra Pradesh ·
Pune, ·
Gurgaon, Haryana ·
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|
|
|
|
Factory : |
> > S B Towers, 88, M > 608-610, > > 271-27 1 A, Sri Ganesh Complex, > 26, Sri Chamundi Complex, Madivala II, Bommanahalli, Hosur Main
Road, Bangalore - 560 068, Karnataka, India > No. l, 2, 3, 4 and 54/1, Survey No. 201/C, Madivala III,
Bangalore - 560 068, Karnataka, India > No. l, 2, 3, 4 and 54/1, Survey No. 201/C, Madivala III (Research
and Development), > No. 1 , 2, 3, 4 and 54/3, Survey No.- 201/C, Madivala IV,
Bangalore – 560 068, Karnataka, India > 3rd Floor, > Subramanya
Arcade, Bannergatta Main Road, Bangalore, Karnataka, India > K-3 1 2,
Koramangala Industrial Layout, Bangalore - 560 095, Karnataka, India > V Block,
Koramangala, Bangalore - 560 095, Karnataka, India > > > No.92, 2nd > S. No. 70/1, 2, 3, 4(P) and. 84/1, 2, 3, Hobli, ' > Capitale, 552 and. 555, Anna Salai, Teynampet, Chennai, > 475A, Shollinganallur, > 111, Mount Road, Guindy, Chennai - 600 032, > No. 105, Guindy, > > > 239, Okhla Industrial Estate, > Plot No.27/28, Phase IV, Udyog Vihar, Gurgaon - 122 016, > Plot No. 281,Phase II, Udyog Vihar, Gurgaon - 122 106, > No. 480-481, Udyog Vihar, Phase-Ill, Gurgoan - 122015, > S. No. 203/1,
Manikonda Jagir Village, Rajendranagar Mandal, RR District, Hyderabad, India > Survey Nos.
64, Serilingampali Mandal, Madhapur, Hyderabad - 500 033, India > > Plot No. 1, 7, 8 and 9, Block-DM, Sector- V, Saltlake, Kolkata -
700 091, West > 146/147, Mettagalli Industrial Area, Mettagalli, > Vashi, Navi Mumbai, Mumbai, > Plot No. 2, MIDC, > 1-8-448, |
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Overseas
Offices : |
1300, Tel. No. :
91-650-3163555 Fax No. :
91-650-3163467 Mimet House, Tel. No. : +44-
020-70873770 Fax No. : +44
-020-72625360 Tel. No. :
+81-45- 650 3950 Fax No. : +81
-45-650 3951
Wipro Technologies
1995, El Camino Real, Suite 200, Santa Clara, CA
95050, USA Tel. No.:
91-408-249 6345 Fax No.: 91-408-
6157174 / 6157178 15455 N. W., Tel. No.: 91-503-
4390825 Fax No.: 91-503-
4398426 10655 N. E., 4th
Street, Suite 400, Bellevue, WA 98004, USA Tel. No.: 91-425
-4553486 Fax No.: 91-425
-6880973 833, Tel. No.: 91-972- 6716130 Fax No.: 91-972- 6716134 2432, W. Peoria Avenue, Suite 1323, Phoenix, AZ
85029, USA Tel. No.: 91-602- 8705780 Extn.: 101 100, W. 22nd
Street, Tel. No.: 91-630-
8899860 Fax No.: 91-630
-8899187 8901, Tel. No.:
91-952-9489683 Fax No.: 91-952-
9489684 12081, Tel. No.: 303-254
2457 Fax No.: 720-244
4872 Tel. No.: 978-372
9531 Fax No.: 978-372
9560 345, Buckland
Hills, Dr. Suite 7213, Tel. No.: 860-644
3657 Fax No.: 860-644
3667 220, Tel. No.:
732-4650401 Fax No.:
732-4650420 Top Floor, 2432, W Peoria Ave, Suite 1323, Phoenix, Arizona,
USA AZ 85029 Room no. 1064, Hatanpaankatu 1 (Kulma-Sarvis), Tampere,
Finland Web Campus,
Kaistrasse, 101 |
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Branch Office
: |
Wipro Infotech Software and Service
88,
|
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Azim Hashmi
Premji |
|
Designation : |
Chairman |
|
Date of Appointment
: |
01.09.1968 |
|
|
|
|
Name : |
Dr. Ashok Ganguly |
|
Designation : |
Chairman, ICICI OneSource Limited. Former
Chairman, ICI India Limited |
|
Date of
Appointment : |
01.01.1999 |
|
|
|
|
Name : |
Mr. B. C.
Prabhakar |
|
Designation : |
Practitioner of Law |
|
Date of
Appointment : |
20.02.1997 |
|
|
|
|
Name : |
Mr. Narayan
Vaghul |
|
Designation : |
Chairman, ICICI Bonk Limited |
|
Date of
Appointment : |
09.06.1997 |
|
|
|
|
Name : |
Ms. Priya Mohan
Sinha |
|
Designation : |
Former Chairman, PepsiCo |
|
Date of
Appointment : |
01.01.2002 |
|
|
|
|
Name : |
Dr. Jagdish N Sheth |
|
Designation : |
Professor of Marketing, |
|
Date of
Appointment : |
01.01.1999 |
|
|
|
|
Name : |
Mr. Suresh C Senapaty |
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Designation : |
Executive Director |
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|
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|
Name : |
Mr. William Arthur Owens |
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Designation : |
Directors |
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|
Name : |
Dr. Henning Kagermann |
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Designation : |
Director |
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Name : |
Mr. Shyam Saran |
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Designation : |
Director |
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Name : |
Mr. T.K. Surien |
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Designation : |
Director |
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Name : |
Mr. M.K. Sharma |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. V. Ramachadran |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. Suresh C. Senapaty |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
95419432 |
3.94 |
|
|
11406331 |
0.47 |
|
|
1821055120 |
75.24 |
|
|
1330341000 |
54.97 |
|
|
490714120 |
20.28 |
|
|
1927880883 |
79.66 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1927880883 |
79.66 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
35976330 |
1.49 |
|
|
361327 |
0.01 |
|
|
45516626 |
1.88 |
|
|
179767785 |
7.43 |
|
|
261622068 |
10.81 |
|
|
|
|
|
|
63865938 |
2.64 |
|
|
|
|
|
|
48629905 |
2.01 |
|
|
78519368 |
3.24 |
|
|
100 |
0.00 |
|
|
39657433 |
1.64 |
|
|
23262562 |
0.96 |
|
|
15362551 |
0.63 |
|
|
172761 |
0.01 |
|
|
813959 |
0.03 |
|
|
45600 |
0.00 |
|
|
230672744 |
9.53 |
|
Total Public shareholding (B) |
492294812 |
20.34 |
|
Total (A)+(B) |
2420175695 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
42759035 |
0.00 |
|
|
42759035 |
0.00 |
|
Total (A)+(B)+(C) |
2462934730 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing services of IT and IS consulting for E-business
transformation, electronic commerce, web enabling, data warehousing and
customer relation's management. |
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Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed Capacity |
|
|
|
|
|
Vanaspati / Hydrogenated oils |
TPA |
45000 |
|
Toilet Soaps |
TPA |
134026 |
|
Leather shoe uppers |
TPA |
750 |
|
Fatty acids |
TPA |
78450 |
|
Glycerine |
TPA |
1650 |
|
General lighting systems lamps |
000s |
110305 |
|
Fluorescent tube lights |
000s |
27097 |
|
Compact flourescent lamps |
000s |
23355 |
|
Mini computers / micro processor based
systems and data communication systems |
|
691200 |
|
Hydraulic and Pneumatic tubes |
Nos. in 000s |
831140 |
|
Tipping Gear systems |
NPA |
50000 |
NOTES:
- @ Installed capacities are as per certificate
given by management on which auditors have relied.
- TPA indicates tons per annum
- # NPA indicates nos. per annum
- ** The company is exempt from the
licensing provisions of the Industries (Development Regulation) Act, 1951.
GENERAL INFORMATION
|
No. of Employees : |
14000
(Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
KMPG (IFRS) Chartered Accountants |
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|
|
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Statutory Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
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Direct Subsidiaries : |
NOTE: * All the above direct subsidiaries are
100% held by the Company except that the Company hold 98% of the equity
securities of Enthink Inc., 66.67% of the equity securities of Wipro Arabia
Limited, 90% of the equity securities of Wipro Chandrika Limited and 74% of
the equity securities of Wipro Airport IT Services Limited. |
CAPITAL STRUCTURE
As on: 23.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2650000000 |
Equity Shares |
Rs.2/- each |
Rs.5300.000 Millions |
|
25000000 |
10.25% Redeemable Cumulative Preferences Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
Total |
|
Rs.5550.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2462934730 |
Equity Shares |
Rs.2/- each |
Rs.4926.015 Millions |
Issued, Subscribed & Paid-up Capital :
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2650000000 |
Equity Shares |
Rs.2/- each |
Rs.5300.000 Millions |
|
25000000 |
10.25% Redeemable Cumulative Preferences Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
Total |
|
Rs.5550.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2458756228 |
Equity Shares |
Rs.2/- each |
Rs.4917.000
Millions |
NOTE:
TERMS / RIGHTS
ATTACHED TO EQUITY SHARES
The Company has
only one class of equity shares having a par value of ` 2 per share. Each
holder of equity shares is entitled to one vote per share. The Company declares
and pays dividend in Indian Rupees. The dividend proposed by the Board of
Directors is subject to shareholders approval in the ensuing Annual General
Meeting.
Following is the
summary of per share dividends recognized as distributions to equity shares:
|
PARTICULAR |
FOR THE YEAR ENDED MARCH 31 |
|
|
2012 |
|
Interim Dividend |
Rs.2 |
|
Final Dividend |
Rs.4 |
In
the event of liquidation of the Company, the equity shareholders will be
entitled to receive the remaining assets of the Company, after distribution of
all preferential amounts, if any, in proportion to the number of equity shares
held by the shareholders.
(I) RECONCILIATION OF NUMBER OF SHARES
|
PARTICULAR |
As on 31.03.2012 |
|
|
No. of Shares |
Rs. in Millions |
|
|
Opening number
of equity shares / American Depository Receipts (ADRs) outstanding |
2454409145 |
4908.000 |
|
Equity shares /
ADRs fully allotted as fully paid bonus shares / ADRs by capitalization
of Securities Premium account and Capital redemption reserve |
-- |
-- |
|
Equity shares issued pursuant to Employee Stock Option Plan |
4347083 |
9.000 |
|
Closing number
of equity shares / ADRs outstanding |
2458756228 |
4917.000 |
(II) DETAILS OF SHAREHOLDERS HAVING MORE THAN 5% OF THE TOTAL EQUITY
SHARES OF THE COMPANY
|
PARTICULAR |
As on 31.03.2012 |
|
|
Name of the Shareholder |
No. of Shares |
% held |
|
Azim Hasham Premji Partner representing Hasham
Traders |
543765000 |
22.12 |
|
Azim Hasham Premji Partner representing
Prazim Traders |
541695000 |
22.03 |
|
Azim Hasham Premji Partner representing
Zash Traders |
540408000 |
21.98 |
|
Azim Premji Trust |
195187120 |
7.94 |
(III) OTHER DETAILS OF EQUITY SHARES FOR A PERIOD OF FIVE YEARS
IMMEDIATELY PRECEDING MARCH 31, 2012
|
PARTICULAR |
31.03.2012 |
|
Aggregate number
of share allotted as fully paid up pursuant to contract(s) without payment
being received in cash (Allotted to the
Wipro Inc Trust, the sole beneficiary of which is Wipro Inc., a wholly owned
subsidiary of the Company, in consideration of acquisition of inter-company
investments) |
1614671 |
|
Aggregate number of shares allotted as fully paid bonus shares |
979119256 |
|
Aggregate number of shares bought back |
-- |
(IV) SHARES
RESERVED FOR ISSUE UNDER OPTION
For details of shares reserved for issue under the employee stock option
plan of the Company.
LISTING DETAILS
|
|
BSE : 507685 NSE : WIPRO |
|
Stock Exchange Place : |
|
|
Listed Date : |
08.11.1995 (NSE) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4917.000 |
4908.000 |
2936.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
18.000 |
|
|
3] Reserves & Surplus |
238608.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
208294.000 |
173968.000 |
|
|
NETWORTH |
243525.000 |
213202.000 |
176922.000 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.000 |
96.000 |
0.000 |
|
|
2] Unsecured Loans |
52422.000 |
47012.000 |
55302.000 |
|
|
TOTAL BORROWING |
52432.000 |
47108.000 |
55302.000 |
|
|
DEFERRED TAX LIABILITIES |
58.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
296015.000 |
260310.000 |
232224.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
46498.000 |
42370.000 |
36563.000 |
|
|
Capital work-in-progress |
3012.000 |
3964.000 |
9911.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
103352.000 |
108134.000 |
89665.000 |
|
|
DEFERREX TAX ASSETS |
326.000 |
108.000 |
348.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7851.000
|
7249.000
|
6069.000
|
|
|
Sundry Debtors |
79670.000
|
57813.000
|
47547.000
|
|
|
Cash & Bank Balances |
62328.000
|
52033.000
|
56643.000
|
|
|
Other Current Assets |
40307.000
|
35065.000
|
0.000
|
|
|
Loans & Advances |
42615.000
|
34462.000
|
54846.000
|
|
Total
Current Assets |
232771.000
|
186622.000
|
165105.000
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
38922.000
|
36099.000
|
31116.000 |
|
|
Other Current Liabilities |
20862.000
|
15113.000
|
15944.000
|
|
|
Provisions |
30160.000
|
29676.000
|
22308.000
|
|
Total
Current Liabilities |
89944.000
|
80888.000
|
69368.000
|
|
|
Net Current Assets |
142827.000
|
105734.000
|
95737.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
296015.000 |
260310.000 |
232224.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
316829.000 |
263005.000 |
229220.000 |
|
|
|
Other Income |
12274.000 |
6807.000 |
8753.000 |
|
|
|
TOTAL (A) |
329103.000 |
269812.000 |
237973.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales and Services |
14475.000 |
10857.000 |
|
|
|
|
Purchases of Stock-In-Trade |
32086.000 |
26972.000 |
|
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and
Stock-In-Trade |
449.000 |
(316.000) |
|
|
|
|
Employee Benefits Expense |
133115.000 |
109374.000 |
|
|
|
|
Other Expenses |
76274.000 |
58509.000 |
|
|
|
|
TOTAL (B) |
256399.000 |
205396.000 |
179806.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72704.000 |
64416.000 |
58167.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6057.000 |
1360.000 |
1084.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
66647.000 |
63056.000 |
57083.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7461.000 |
6001.000 |
195.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
59186.000 |
57055.000 |
56888.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12335.000 |
8618.000 |
7908.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER
TAX (G-H) (I) |
46851.000 |
48437.000 |
48980.000 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
26663.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
4917.000 |
4908.000 |
0.000 |
|
|
|
Proposed dividend |
9835.000 |
9818.000 |
8809.000 |
|
|
|
Tax on Dividend |
2393.000 |
2204.000 |
1283.000 |
|
|
|
Amount transfer to general reserve |
4685.000 |
4844.000 |
38888.000 |
|
|
BALANCE CARRIED
TO THE B/S |
51684.000 |
26663.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on F.O.B. basis |
8554.000 |
6291.000 |
4186.000 |
|
|
|
Services |
225640.000 |
177192.000 |
163390.000 |
|
|
|
Agency Commission |
219.000 |
288.000 |
353.000 |
|
|
TOTAL EARNINGS |
234413.000 |
183771.000 |
167929.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material, Components and Peripherals |
22982.000 |
27358.000 |
17484.00 |
|
|
|
Stores and Spares |
212.000 |
40.000 |
43.000 |
|
|
|
Capital Goods |
394.000 |
231.000 |
715.000 |
|
|
TOTAL IMPORTS |
23588.000 |
27629.000 |
18242.000 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) (Basic) |
19.13 |
19.88 |
33.61 |
|
|
|
Earnings /
(Loss) Per Share (Rs.) (Diluted) |
19.09 |
19.78 |
33.38 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
87919.000 |
90342.000 |
92961.000 |
85460.000 |
|
Total Expenditure |
70894.000 |
71139.000 |
74032.000 |
68361.000 |
|
PBIDT (Excl OI) |
17025.000 |
19203.000 |
18929.000 |
17099.000 |
|
Other Income |
1356.000 |
5449.000 |
2846.000 |
3427.000 |
|
Operating Profit |
18381.000 |
24652.000 |
21775.000 |
20526.000 |
|
Interest |
1111.000 |
718.000 |
800.000 |
895.000 |
|
PBDT |
17270.000 |
23934.000 |
20975.000 |
19631.000 |
|
Depreciation |
1915.000 |
1972.000 |
1869.000 |
1723.000 |
|
Profit Before Tax |
15355.000 |
21962.000 |
19106.000 |
17908.000 |
|
Tax |
3775.000 |
4769.000 |
4276.000 |
3084.000 |
|
Profit After Tax |
11580.000 |
17193.000 |
14830.000 |
14824.000 |
|
Net Profit |
11580.000 |
17193.000 |
14830.000 |
14824.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
14.23
|
17.95 |
20.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.68
|
21.69 |
24.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.19
|
24.92 |
28.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.27 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.22
|
0.22 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.59
|
2.31 |
2.38 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
No |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved in |
Yes |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31) Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33) Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
Yes |
LITIGATION
DETAILS
CASE PENDING
|
||||||||||||||||||||||||||||
DETAILS
OF CHARGES
|
ENTITY |
COMPETENT AUTHORITY |
REGULATORY CHARGES |
REGULATORY
ACTION(S) / DATE OF ORDER |
|
Wipro Limited |
CBEC |
DEFAULTED IN PAYMENT OF CUSTOMS / EXCISE DUTIES |
NOTICE ISSUED UNDER SECTION 142 OF CUSTOMS ACT, 1962 28- FEBRUARY-2013 |
|
Wipro Limited |
EPFO |
EXEMPTED AND UNEXEMPTED ESTABLISHMENTS DEFAULTED WITH EPFOINCLUDING
PROVIDENT FUND, PENSION AND EDLI CONTRIBUTION, ADMINISTRATION CHARGES AND
PENAL DAMAGES OF RS.9.775 MILLIONS |
AMONG OTHER ACTIONS, NAMES OF DEFAULTERS PUT ON THE EPFO WEBSITE 30-JUNE-2010 |
HISTORY
Subject, the successful company crossed six decade of years.
Wipro though started as a edible oil producer way back in 1945 under the name
Western India Vegetable Products, a private limited company has transformed
itself into leading player in Fast Moving Consumer Goods and IT services and
Products business. It was incorporated at Karnataka by Mr. Azim H Premji who is
promoter and chairman of the company. Five of Wipro's manufacturing and
development facilities secured the Indian Standard Organization (ISO) 9001
certification during 1994-95. Company provides the integrated business,
technology and process solution on a global delivery platform to customers
across
FINANCIAL PERFORMANCE:
Profit for the
year in standalone results is after considering loss of Rs.2787000 Millions
(March 2011: gain of Rs.326.000 Millions) relating to changes in fair value of forward
contracts designated as hedges of net investment in non-integral foreign
operations, translation of foreign currency borrowings and changes in fair
value of related cross currency swaps together designated as hedges of net
investment in non-integral foreign operations. In the consolidated Accounts,
these are considered as hedges of net investment in non-integral foreign
operations and are recognized directly in shareholders’ funds.
OUTLOOK:
According to
Nasscom Strategic Review 2012, Global technology spend is expected to grow by
5% in 2012. Worldwide IT Services spending is expected to grow 4.3% in 2012 and
4.7% in 2013. The growth is fuelled both by use of IT to reduce cost structures
as well as increased adoption of cloud, mobility, analytics and social media.
India accounts for less than 5% of the global technology spending and this
provides a strong headroom for growth of the IT-BPO sector in India.
Worldwide IT
spending is forecast to total $3.7 trillion in 2012, a 2.5 percent increase
from 2011, according to the latest outlook by Gartner, Inc.
AWARDS AND RATING:
The Company has
been awarded the highest rating of Stakeholder Value and Corporate Rating 1
(called SVG 1) by ICRA Limited, a rating agency in India being an associate of
Moody’s. This rating implies that the Company belongs to the Highest Category
on the composite parameters of stakeholder value creation and management as
also Corporate Governance practices.
The company has
been awarded the National award for excellence in Corporate Governance from
Institute of Company Secretaries of India during the year 2004.
The company has
been given the award for excellence in Financial Reporting from Institute of
Chartered Accountants of India during the year 2012.
Mr. Azim H. Premji
Chairman and managing Director of the Company has been awarded Long time
Achievement Award for Excellence in Corporate Governance from Institute of
Company Secretaries of India during the year 2011.
The Company has
also been assigned LAAA rating to Wipro’s long term credit. This is the highest
credit quality rating assigned by ICRA Limited to long term instruments.
The Company’s Long
Term Corporate Credit Rating by Standard and Poor (S and P), a Credit Rating
Agency is BBB+ (Outlook Negative).
The Company was ranked
among the Top 5 in Greenpeace International Ranking Guide and regained its top
position among.
The Company has
been Awarded as one of the world’s Most Ethical Company’s by Ethisphere
Institute.
IT SERVICES:
In IT services, their
predominant suppliers are utility providers, telecom, IT infrastructure and
support services like hospitality, catering and transportation. An example of
the collaborative approach that they adopt with their service providers is the
successful partnership with the local transport authority in Bengaluru that has
resulted in significant benefits for employees, local community and the
environment. Another unique example is a study that they initiated in 11-12 to
explore the development of a Responsible Water use framework - this involves
interaction with local authorities and water supply chain stakeholders.
Recognizing the
socio-economic benefits of local procurement, they encourage sourcing from the
local economy. Aligned to the LEED standards, nearly 50% of the construction
materials is sourced locally. At an aggregate level, nearly 88% of their
supplier base is based in India which translated into 73% of the procurement by
value for the reporting year. They have also started an exercise in consolidating
their supply chain base in order to make their engagement more focused and
meaningful. In FY13, they will also be launching their supplier engagement
program on ESG principles with a select group of suppliers.
Wipro expects its
suppliers to adhere to similar standards of ethics and integrity as for itself.
Specific clauses in the COBCE require their suppliers to adhere to the ethical
and responsible principles governing child labor, forced labor, discrimination,
fraud and anti-corruption. They have zero tolerance for breaches of fundamental
human rights principles and on bribery and anti-corruption with a resultant
terminaton of any supplier found guilty of such breaches. Their Ombuds process
is available 24X7 (online and through specified contact numbers) for supplier s
and contractors to report any breach of code of conduct by Wipro employees. In
2011-12, they have launched a multilingual 24X7 call center. During 2011-12,
there were 25 instances of suppliers who were found in breach of the COBCE, subsequent
to which they terminated and blacklisted 6. For the balance 19 - where the
breaches were not serious- limited actions were taken along with counseling and
warnings.
IT PRODUCTS:
Life cycle
sustainability in their personal computing business is based based on the three
pillars of energy management, chemicals management and waste (end of lifecycle)
management. All their new product launches are Energy Star 5 (as per U.S. EPA
standards) enabled. In India, BEE Ver 1.0 (equivalent to ES 5) is a new energy
rating system for laptops and all 4 laptop models introduced in the reporting
period are compliant with BEE guidelines. Over the years, they have developed
successful partnerships to procure computing components that meet and exceed
RoHS (Restriction on Hazardous substances) guidelines. Across all the customer
shipments that were made during 11-12, RoHS compliance stood at around 99.7%,
with the small portion explainable on account of customer specified components.
They have also launched a few models as part of their “Beyond RoHS” program
with the aim to offer PVC and BFR free products. They are fully geared up to
meet the new e-waste guidelines and are working closely with stakeholders to
ensure compliance.
Customer
communication on health and safety aspects is a key aspect of their
sustainability program. Instructions on their end-of-life disposal program are added in all shipments. Their take-back
program for end of life desktops and laptops is an industry first in India.
Across the country there are 17
collection centers. In 2011-12, they collected 229 tons of e-waste. All
products follow required EMI/EMC (Electromagnetic Interference) regulations.
Desktop Monitors (18.5 and 20 Inch models) are TCO certified - which cover
aspects of ergonomics and user centered design. Instructions on safe disposal
and recyclability are mentioned on the carton and individual accessories. The
installation failure trend, which measures hard failures in the first month of
product use, is one of the lowest in the industry at 0.27%. Across the warranty
period (1 year) this figure is still a low 0.4%, which demonstrates the build
quality of the product.
Greenpeace
continues to be instrumental in providing critical feedback and inputs to their
Green Computing journey. Their “Guide to Green Electronics” has rated Wipro as
the No. 1 green company in India since 2009. Earlier last year, Wipro launched
a program for their key and materially important component suppliers with a
view to understand their environmental footprint and social impact and further
strengthen their supply chain engagement on ESG (Environment, Social and
Governance) aspects.
DETAILS OF
UNSECURED LOAN
[Rs.
in Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Term Loan |
|
|
|
External commercial borrowing (b) |
21728.000 |
18861.000 |
|
Interest free loan from State Government (c) |
37.000 |
37.000 |
|
Others (d) |
247.000 |
360.000 |
|
Loan repayable on demand from banks |
30410.000 |
27754.000 |
|
|
|
|
|
Total |
52422.000 |
47012.000 |
|
NOTE: (b) The Company
entered into an arrangement with a consortium of banks to obtain External
Commercial Borrowings (ECB) during the year ended March 31, 2008. Pursuant to
this arrangement, the Company has availed ECB of approximately 35 billion Yen
repayable in full in April 2013. The ECB carries an average interest rate of
1.86% p.a. The ECB is an unsecured borrowing and the Company is subject to
certain customary restrictions on additional borrowings and quantum of
payments for acquisitions in a financial year. (c) Interest
free loan from State Government is repayable in five equal annual
installments of Rs.7 starting from financial year 2013-14. (d) Unsecured
loans from others are repayable in monthly installments within the year
ending March 31, 2015. The interest rate for these loans ranges from 6.03% to
7.21%. |
||
FIXED ASSETS:
- Land
- Buildings
- Railway
siding
- Plant and
Machinery
- Furniture,
Fixture and Equipments
- Vehicles
- Technical
Know-how
- Patents,
Trademarks and Rights
AS PER WEBSITE
DETAILS
BUSINESS
DESCRIPTION:
Subject incorporated on December 29, 1945, is a global information technology (IT) services company. Subject provides outsourced research and development, infrastructure outsourcing, business process outsourcing (BPO) and business consulting services. Subject also provides a range of IT services, software solutions, IT consulting, BPO services and research and development services in the areas of hardware and software design to companies worldwide. The Company operates in three segments: IT Services, IT Products, Consumer Care and Lighting. The IT Services segment provides IT and IT enabled services to customers. Its key service offering includes software application development, application maintenance, research and development services for hardware and software design, data center outsourcing services and business process outsourcing services. The IT Products segment sells a range of Subject personal desktop computers, Wipro servers and Wipro notebooks. The Company is also a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. The Consumer Care and Lighting segment manufactures, distributes and sells personal care products, baby care products, lighting products and hydrogenated cooking oils in the Indian and Asian markets. As of March 31, 2011, the Company held 49% interest in Wipro GE. On June 10, 2011, the Company acquired the global oil and gas information technology practice of the Commercial Business Services Business Unit of Science Applications International Corporation (SAIC). In April 2010, Wipro GE Medical Systems (Wipro GE) acquired medical equipment and related businesses from General Electric IT Services.
The Company’s IT Services segment provides a range of IT and IT enabled
services, which include IT consulting, custom application design, development,
re-engineering and maintenance, systems integration, package implementation,
technology infrastructure outsourcing, BPO services and research and development
services in the areas of hardware and software design. The Company provides its
clients customized IT solutions.
Business Application Services (BAS) offers integrated business solutions across
the application and technology landscape. Its business process transformation
solutions across the value chain are applied in the areas of enterprise
resource planning (ERP), supply chain management and customer relationship
management across packages, including SAP and Oracle. Wipro offers
business-to-customer (B2C), business-to-business (B2B), business-to-employee
(B2E) collaboration and commerce solutions driving business growth and
workforce effectiveness for organizations. Wipro offers a portfolio of
service-oriented integration solutions, including application-to-application
integration and B2B integration, enabling seamless cross-functional business
processes within the enterprise and across the extended value chain. The
Company offers end-to-end integrated Enterprise Security Solutions and IT
security services. Its solutions enhance performance of information security
and compliance programs to adapt constantly evolving and new business and IT
risks. Its services enable its clients to develop a testing strategy with
innovative solutions, approach and commercial models to ensure total quality
assurance. It enables organizations to navigate and adopt new paradigms, such
as Cloud/software as a service (SaaS), sustainability, digital marketing and
social computing.
The Company is engaged in the Infrastructure Management services space. The
Company launched IT360TM framework to help its customers maximize their IT
investments and IT effectiveness. Its industry specific service offerings
include customized solutions for various business processes. Its service offerings
include Data Center Management, Virtualization, Managed Network, Managed
Security, End User Computing Cloud, and Business Advisory services. The
Company’s BPO services include customer interaction services, such as
IT-enabled customer services, marketing services, technical support services
and IT helpdesks; finance and accounting services, such as accounts payable and
accounts receivable processing; process improvement services that provide
benefits of scale for repetitive processes, such as claims processing, mortgage
processing and document management; knowledge process outsourcing services,
which involve high-end knowledge work on intellectual property, equity and
finance, analytics, market research and data management, and process
transformational offerings, such as automated chats and e-mails, speech
analytics and interactive voice response (IVR)-based voice solution.
The Company’s product engineering services (PES) business enables customers to
build these current and next generation solutions. Its solutions include a
remote patient monitoring solution and a connected television (TV) solution,
managed printing services and a Collaborative Design, Manufacturing and
Sustenance (CDMS) program. The Company also launched a joint initiative with
Microsoft to offer Microsoft Lync Server 2010 qualification testing services
for communication products/solutions and CSA to provide localized testing and
certification services. Its Analytics and Information Management service line
helps customers accelerate enterprise performance through integrated analytical
solutions and frameworks. Its service line provides consulting, business
centric and technology specific analytical solutions and data management
frameworks developed through a complete ecosystem of partners, focusing on
industry specific analytics, optimization and operations analytics, enterprise
data warehouse, MDM, data quality and data life cycle management. Wipro
Consulting Services (WCS) is a business unit of Wipro, which is a provider of
integrated consulting, technology and outsourcing solutions. WCS has six major
consulting practices: business transformation, functional excellence (supply
chain, finance, hr, OCM and CRM), process excellence (lean it and lean
business), governance risk and compliance, enterprise architecture and
government consulting.
The Company competes with Accenture, IBM Global Services, Cognizant, Infosys
and Tata Consultancy Services. IT Products
The Company’s IT Products segment provides a range of IT products encompassing
computing, storage, networking, security and software products. Its
manufactured range of products consists of desktops, notebooks, Net Power
servers and super computers. The Company offers form, factors and functionalities
that cater to the entire spectrum of users-from individuals to high-end
corporate entities. The Company’s offerings under enterprise platforms category
consists of design and deployment services for enterprise class servers,
databases and server computing resource management software. Its offerings
under networking solutions category consists of consulting, design, deployment
and audit of enterprise wide area network (WAN), wireless local area network
(LAN) and unified communication systems. Its products under software products
category consists of enterprise application, data warehousing and business
intelligence software from software product companies. Its products under data
storage category consists of network storage, secondary and near line storage,
backup and storage fabrics. Its offerings under contact center infrastructure
include switch integration, voice response solutions, computer telephony
interface (CTI), customized agent desktop application, predictive dialer,
customer relationship management, multiple host integration and voice logger
interface. Its security products include intrusion detection systems, firewalls
and physical security infrastructure covering surveillance and monitoring
systems. The Company also offers technologies in the market, including
virtualization, internet protocol (IP) video solutions and private cloud
implementations. Wipro provides its offerings to enterprises under industries,
including government, defense, IT and IT enabled services (IT-ITeS), telecommunications,
manufacturing, utilities, education and banking, financial services and
insurance (BFSI) sectors.
The Company competes with HCL, Tata Consultancy Services, CMC, Redington, IBM,
Ingram, Dell, HP, Lenovo, Acer, Sony and Toshiba.
Consumer Care and Lighting
The Company’s Consumer Care and Lighting business segment focuses on personal
care in specific geographies in Asia, Middle East and Africa, as well as office
solutions in India. The Company leverages its brands and distribution strengths
to sustain a profitable presence in the personal care sector, including
personal wash, fragrances, hair and skin care, male toiletries and household
lighting products. Its office solutions include lighting products, modular
switches, modular furniture and security solutions. Its Santoor brand is the
soap category brand, and Safi brand is the Halal toiletries brand of Malaysia.
Its Yardley brand operates in the Middle East and into the luxury segment of
personal care.
The Company’s range of personal care products includes deodorants and
fragrances, hair care, bath and shower, skin care and other personal care
products. The Company has focused on consolidating its brand portfolio and has
about 34 brands, including brands, such as Yardley, Enchanteur, Safi, Eversoft
and Romano. Its product lines include soaps and toiletries, as well as baby
products. Its umbrella brands include Santoor, Chandrika, Wipro Active, Wipro
Baby Soft, a line of infant and child care products that includes soap, talcum
powder, oil, diapers and feeding bottles and wellness products.
The Company’s product line includes modular switches, incandescent light bulbs,
compact fluorescent lamps and luminaries. The Company operates both in
commercial and retail markets. Wipro has also developed commercial lighting
solutions for pharmaceutical production centers, retail stores, software
development centers and other industries. The Company has also developed
security solutions for household and institutional consumers. Its product line
of modular furniture is for office use, such as workstations, storage and
chairs. It operates both in commercial and retail markets. The Company sells
its products to software development centre, banks and financial institutions,
insurance companies and manufacturing companies who are in the process of
setting up new facilities or expanding their current workspaces. The Company
markets and sells its personal care products through a host of distribution
channels, which include modern retail outlets, hypermarts, supermarts,
traditional retailers, van operators and wholesalers. The Company sells and
markets its consumer care products primarily through its distribution network
in India, which has access to 5,121 distributors and 1.6 million retail outlets
throughout the country.
The Company competes with Unilever, Proctor and Gamble, Johnson & Johnson,
L’Oreal, ITC (FMCG), Godrej, Philips, General Electric, Bajaj, Crompton and BP
Ergo.
Others
The Company’s others segment includes its infrastructure engineering business.
The Company is a third-party manufacturer of hydraulic cylinders. The Others
segment is centered on its mobile construction equipment business and its
material handling business. The Company manufactures and sells cylinders and
truck hydraulics, and it also distributes hydraulic steering equipment and
pumps, motors and valves for international companies. The Company has
manufacturing facilities in Europe and India and sells to customers across the
globe. The Company is also in the water solutions business, which addresses the
entire spectrum of treatment solutions, systems and plants for water and waste
water for industries. The Company is also in the cleantech business.
The Company competes with UT Limited (India), Dongyong, Pacoma, Sundaram
Hydraulics, Dantal, the Kayaba,
Precision Hydraulics Company and Hyva.
BOARD OF DIRECTORS
AZIM H. PREMJI -
CHAIRMAN OF THE BOARD, CHIEF EXECUTIVE OFFICER, MANAGING DIRECTOR – CHAIRMAN
Mr. Azim H. Premji is the Chief Executive Officer, Chairman of the Board of Directors and Managing Director (designated as Chairman) of Wipro Limited since September 1968. More recently, Mr. Azim Premji, Chairman, Wipro Limited has been honored with the Padma Vibhushan award by Government of India for his contribution in trade and industry. Azim Premji is a graduate in Electrical Engineering from Stanford University, USA.
ASHOK SEKHAR GANGULY
- NON-EXECUTIVE INDEPENDENT DIRECTOR - DIRECTOR/BOARD MEMBER
Dr. Ashok Sekhar Ganguly is a Non-Executive Independent Director on the Board of Wipro Limited since 1999. He is the Chairman of Board Governance and Nomination Committee and Compensation Committee. He is currently the Chairman of ABP Private Limited (Ananda Bazar Patrika Group). Dr. Ganguly also currently serves as a non-executive Director of Mahindra and Mahindra Limited and Dr Reddy Laboratories Limited. Dr. Ganguly is the chairman of Research and Development Committee of Mahindra and Mahindra Ltd, Member of Nomination, Governance and Compensation Committee and Chairman of Science, Technology & Operations Committee of Dr Reddy’s Laboratories Limited He is a member of the Prime Minister’s Council on Trade and Industry and the India-USA CEO Council, established by the Prime Minister of India and the President of the USA. Dr. Ganguly is a Rajya Sabha Member. He is a former member of the Board of British Airways Plc (1996-2005) and Unilever Plc/NV (1990-97); Dr. Ganguly was formerly Chairman of Hindustan Unilever Limited (1980-90). Dr. Ganguly was on the Central Board of Directors of the Reserve Bank of India (2000-2009). In 2006, Dr. Ganguly was awarded the CBE (Hon) by the United Kingdom. In 2008, Dr. Ganguly received the Economic Times Lifetime Achievement Award. Dr. Ganguly was awarded Padma Bhushan by the Government of India in January 1987 and Padma Vibhushan in January 2009.
HENNING KAGERMANN -
NON-EXECUTIVE DIRECTOR - DIRECTOR/BOARD MEMBER
Dr. Henning Kagermann is a Non-Executive Director of Wipro Ltd effective Oct. 27, 2009. He served as Chief Executive officer of SAP AG until 2009. He has been a member of SAP Executive Board since 1991. He is also President of Acatech (German Academy of Science and Technology) and currently a member of supervisory boards of Deutsche Bank AG, Munich Re, Deutsche Post, Nokia and BMW Group in Germany. Dr. Henning Kagermann is a professor for Theoretical Physics at the Technical University Braunschweig, Germany and received honorary doctorate from the University of Magdeburg, Germany.
WILLIAM ARTHUR OWENS
- NON-EXECUTIVE INDEPENDENT DIRECTOR - DIRECTOR/BOARD MEMBER
Mr. William Arthur Owens is Non-Executive Independent Director of Wipro Limited since July 1, 2006. He is also a member of the Board Governance and Nomination Committee. He has held senior leadership positions at multinational corporations. From April 2004 to November 2005, Mr. Owens served as Chief Executive Officer and Vice Chairman of the Board of Directors of Nortel Networks Corporation, a networking communications company. From August 1998 to April 2004, Mr. Owens served as Chairman of the Board of Directors and Chief Executive Officer of Teledesic LLC, a satellite communications company. From June 1996 to August 1998, Mr. Owens served as President, Chief Operating Officer and Vice Chairman of the Board of Directors of Science Applications International Corporation (SAIC), a research and engineering firm. Presently, Mr. Owens serves as a member of the Board of Directors of Polycom Inc., Intelius, Flow Mobile, Unifrax and Chairman of Century Link Inc., a media communications company. Mr. Owens holds an M.B.A. (Honors) degree from George Washington University, a B.S. in Mathematics from the U.S. Naval Academy and a B.A. and M.A. in Politics, Philosophy and Economics from Oxford University.
B. C. PRABHAKAR -
NON-EXECUTIVE INDEPENDENT DIRECTOR - DIRECTOR/BOARD MEMBER
Mr. B.C. Prabhakar is a Non-Executive Independent Director on the Board of Wipro Limited since February 1997. He has been a practicing lawyer since April 1970. Mr. Prabhakar holds a B.A. in Political Science and Sociology and a BL. from Mysore University, India. Mr. Prabhakar serves as a non-executive Director of Automotive Axles Limited and 3M India Limited. He is also a member of the Audit, Risk and Compliance Committee and Chairman of the Administrative and Shareholder Investor Grievances Committee of Wipro Limited.
SHYAM SARAN –
DIRECTOR - DIRECTOR/BOARD MEMBER
Mr. Shyam Saran is a Director on Board since July 1, 2010. He is a career diplomat who has served in significant positions in the Indian government for over three decades. He belongs to the 1970 batch of the Indian Foreign Service. He last served as the Special Envoy of the Prime Minister of India (October 2006 to March 2010) specializing in nuclear issues, and he also was the Indian envoy on climate change. Prior to this he was the Foreign Secretary of the Government of India from 2004 to 2006. He also served as the Ambassador of India to Nepal, Indonesia, Myanmar and Mauritius. His diplomatic stints have taken him to Indian missions in Geneva, Beijing and Tokyo. He has been a Fellow of the United Nations Disarmament Program in Geneva, Vienna and New York. Mr. Saran holds a Post Graduate degree in Economics. Mr. Saran has been honored with the Padma Bhushan by the Government of India for his contribution in civil services.
SURESH C. SENAPATY -
CHIEF FINANCIAL OFFICER, EXECUTIVE DIRECTOR - DIRECTOR/BOARD MEMBER
Mr. Suresh C. Senapaty is the Chief Financial Officer and Executive Director of Wipro Limited since April 2008 and served with company in other positions since April 1980. He is a member of the Administrative/Shareholders & Investor Grievance Committee. Mr. Senapaty holds a B. Com. from Utkal University in India, and is a Fellow Member of the Institute of Chartered Accountants of India. Mr. Senapaty is on the Boards of the following Indian subsidiaries: Wipro Trademarks Holding Limited, Wipro Chandrika Limited, Wipro Travel Services Limited, Cygnus Negri Investments Private Limited, Wipro Technology Services Limited, Wipro Consumer Care Limited and Wipro GE Healthcare Private Limited. Mr. Senapaty is also the Chairman of the Audit Committee of Wipro Technology Services Limited.
JAGDISH N. SHETH -
NON-EXECUTIVE DIRECTOR - DIRECTOR/BOARD MEMBER
Dr. Jagdish N. Sheth is an Non-Executive Director on the Board of Wipro Limited since January 1999. He has been a professor at Emory University since July 1991. Dr. Sheth also serves on the boards of Safari Industries and Manipal Acunova Limited Dr. Sheth holds a B. Com (Honors) from Madras University, a M.B.A. and a Ph.D in Behavioral Sciences from the University of Pittsburgh, USA. Dr. Sheth is a member of Compensation Committee of Safari Industries and Chairman of Academy of Indian Marketing Professionals.
PRIYA MOHAN SINHA -
NON-EXECUTIVE INDEPENDENT DIRECTOR - DIRECTOR/BOARD MEMBER
Mr. Priya Mohan Sinha is a Non-Executive Independent Director of Wipro Limited on January 1, 2002. He is a member of Audit, Risk and Compliance Committee, Board Governance & Nomination Committee and Compensation Committee. He has served as the Chairman of PepsiCo India Holdings Limited and President of Pepsi Foods Limited since July 1992. From October 1981 to November 1992, he was on the Executive Board of Directors of Hindustan Lever Limited (currently Hindustan Unilever Limited). From 1981 to 1985, he also served as Sales Director of Hindustan Lever Limited (currently Hindustan Unilever Limited). Currently, he is also on the Boards of Bata India Limited, Lafarge India Private Limited. Mr. Sinha is also a member of Audit Committee of Bata India Limited, Chairman of Shareholder’s Grievance Committee of Bata India Limited and Chairman of Nomination, Governance and Compensation Committee of Bata India Limited He was also the Chairman of Reckett Coleman India Limited and Chairman of Stephan Chemicals India Limited. Mr. Sinha is also on the Advisory Board of Rieter India. Mr. Sinha holds a Bachelor of Arts from Patna University, and he has also attended the Advanced Management Program at the Sloan School of Management, Massachusetts Institute of Technology.
NARAYANAN VAGHUL - LEAD INDEPENDENT DIRECTORG - DIRECTOR/BOARD
MEMBER
Mr. Narayanan Vaghul is a Lead Independent Director on the Board of Wipro Limited. He is the Chairman of Audit, Risk and Compliance Committee, a member of the Board Governance & Nomination Committee and a member of the Compensation Committee. He was the Chairman of the Board of ICICI Bank Limited from September 1985 to April 2009. Mr. Vaghul is also on the Boards of Mahindra and Mahindra Limited, Mahindra World City Developers Limited, Piramal Healthcare Limited, and Apollo Hospitals Enterprise Limited. Mr. Vaghul is on the Boards of Hemogenomics Private Limited, Universal Trustees Private Limited, and IKP Trusteeship Services Limited. Mr. Vaghul is the Chairman of the Compensation Committee of Mahindra and Mahindra Limited and Piramal Healthcare Limited. Mr. Vaghul is also a member of the Audit Committee in Nicholas Piramal India Limited. Mr. Vaghul is a member of the Remuneration Committee of Mahindra World City Developers Limited and Apollo Hospitals Enterprise Limited. Mr. Vaghul is also the lead independent Director of Company. Mr. Vaghul holds Bachelor (Honors) degree in Commerce from Madras University, Mr. Vaghul was the recipient of the Padma Bhushan, by the Government of India during the year 2009-10. Mr. Vaghul also received the Economic Times Lifetime Achievement Award.
T. K. KURIEN - CEO –
IT - CHIEF EXECUTIVE OFFICER
Mr. T. K. Kurien is the Chief Executive Officer - IT Business, Executive Director of Wipro Ltd effective February 1, 2011 and has served with company in other positions since February 2000. Mr. Kurien is a Chartered Accountant and holds a Bachelors Degree in Engineering. Mr. Kurien is also a member of the Board of Wipro GE Healthcare Private Limited
AZIM H. PREMJI -
CHAIRMAN OF THE BOARD, CHIEF EXECUTIVE OFFICER MANAGING DIRECTOR - CHIEF
EXECUTIVE OFFICER
Mr. Azim H. Premji is the Chief Executive Officer, Chairman of the Board of Directors and Managing Director (designated as Chairman) of Wipro Limited since September 1968. More recently, Mr. Azim Premji, Chairman, Wipro Limited has been honored with the Padma Vibhushan award by Government of India for his contribution in trade and industry. Azim Premji is a graduate in Electrical Engineering from Stanford University, USA.
VINEET AGRAWAL -
PRESIDENT - WIPRO CONSUMER CARE AND LIGHTING - DIVISION HEAD EXECUTIVE
Mr. Vineet Agrawal is the President - Wipro Consumer Care and Lighting of Wipro Limited since July 2002 and has served with the Company in other positions since December 1985. Mr. Agrawal holds a B.Tech. from IIT, New Delhi, India and an M.B.A. from Bajaj Institute of Management Studies, Mumbai, India.
MARTHA BEJAR -
CHAIRPERSON AND CEO OF INFOCROSSING INC - DIVISION HEAD EXECUTIVE
Ms. Martha Bejar is Chairperson and CEO of Infocrossing Inc of Wipro Limited since April 2011, and has served in other positions with company since July 2009. From June 2007 to June 2009, Ms. Bejar served as Corporate Vice President for the Communications Sector at Microsoft Corporation. Ms. Bejar also served as President of Nortel’s Caribbean and Latin America regions. Ms. Bejar is a graduate from Harvard School of Business — School Management Advance Program, and holds an M.B.A from Nova Southeastern University (USA) and BSIE from University of Miami (USA).
SURESH C. SENAPATY -
CHIEF FINANCIAL OFFICER, EXECUTIVE DIRECTOR - FINANCE EXECUTIVE
Mr. Suresh C. Senapaty is the Chief Financial Officer and
Executive Director of Wipro Limited since April 2008 and served with company in
other positions since April 1980. He is a member of the
Administrative/Shareholders and Investor Grievance Committee. Mr. Senapaty
holds a B. Com. from Utkal University in India, and is a Fellow Member of the
Institute of Chartered Accountants of India. Mr. Senapaty is on the Boards of
the following Indian subsidiaries: Wipro Trademarks Holding Limited, Wipro
Chandrika Limited, Wipro Travel Services Limited, Cygnus Negri Investments
Private Limited, Wipro Technology Services Limited, Wipro Consumer Care Limited
and Wipro GE Healthcare Private Limited. Mr. Senapaty is also the Chairman of
the Audit Committee of Wipro Technology Services Limited
PRESS RELEASE:
WIPRO AND IAMAI
REPORT PREDICTS MVAS MARKET IN INDIA SET TO GROW TO US $9.5 BILLION IN 2015
FROM AN ESTIMATED US $4.9 BILLION IN 2012
MARCH 25, 2013
Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Limited (NYSE:WIT), and The Internet and Mobile Association of India (IAMAI), in a joint research report titled "Future Thought of Business (FTOB): MVAS" predicts that the Indian MVAS market will grow at a CAGR of 25% between 2012 and 2015 to reach US $9.5 billion in 2015, from an estimated US $4.9 billion in 2012.
Wipro and IAMAI conducted an in-depth evaluation of over 450 consumers and providers of MVAS in India to identify the major drivers and barriers of the Indian MVAS market and provide insights that will help to grow this market. The research focused on the mEducation, mEntertainment, mFinance and mHealth application areas and found that there is pent up market demand from consumers for sophisticated mobile services in India that have the potential to improve the overall quality of living.
"Basic informational mobile services are set to decline in India," said Ayan Mukerji, Senior Vice President, Global Head - Media and Telecom, Wipro Technologies. "We have found that India's consumers will increasingly purchase enriched and transformational education, health, finance and entertainment services. An expected MVAS revolution in India is being made possible by the dramatic growth in mobile device penetration and mobile network capacity and this market offers abundant opportunities for growth to all industry participants."
Opportunities for different participants in the Indian MVAS market include:
- Domestic mobile operators could focus on providing better network and connectivity
- Global operators could increase their base by testing new VAS offerings in the Indian market
- Content and VAS technology could focus on the consumer experience and developing personalized content
- Original equipment manufacturers could innovate with lost cost smartphones and mobile devices to drive penetration
To realize the market's full potential, the industry requires a collaborative effort across mobile network operators, telecom equipment vendors and mobile service content providers. "So far, this market has been hampered by a lack of services innovation," said Dr. Subho Ray, President, IAMAI. "By forging mutually agreeable partnerships, we can improve customization and localization of content and create services with a compelling consumer value proposition. The Indian MVAS market offers tremendous potential to all industry participants and those companies that can offer innovative services will stand to benefit the most" Dr. Ray added.
The research findings reveal that mEntertainment is the largest contributor to operator MVAS revenues and provides key opportunities in localized vernacular content, on-demand music and video content and live TV shows and events. On the other hand, mEducation can play a key role in expanding the reach and quality of education in India, through Interactive English Language Learning Services, Competitive Examination Preparation Solutions, Tutor-on-call and Vocational training. mHealth has the potential to improve healthcare access and affordability in India especially through Remote Diagnostics, Chronic Disease Management and Maternal Care. Mobile phones will also play a key role in extending financial services to the 40% of India's population who are unbanked. mFinance through Mobile Wallet Services, Mobile Remittance Services and Business Correspondence Model Based Services will contribute to MVAS revenues.
The report also highlights areas of concern that the industry could collectively address:
Value Perception. Even though 96% of the survey respondents accessed the internet on mobile devices, only 56% had subscribed to some form of paid MVAS
Service Complexity. Complexity was consistently rated as a key barrier to service adoption. For instance, 64% of participants believed that advanced mobile health services would to be too complex to use.
User Experience. Users expressed concern about the unique aspects of the mobile experience that could compromise usability. For instance, 56% of participants were concerned about the screen size of mobile devices.
About Wipro
Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has over 140,000 employees and clients across 54 countries.
About IAMAI:
The Internet and Mobile Association of India [IAMAI] is a young and vibrant industry association with ambitions of representing the entire gamut of digital businesses in India. It was established in 2004 by the leading online publishers, but in the last eight years has come to effectively address the challenges facing the digital and online industry including mobile content and services, online publishing, mobile advertising, online advertising, ecommerce and mobile and digital payments among others.
Eight years after its establishment, the association is still the only professional industry body representing the online and mobile VAS industry in India. The association is registered under the Societies Act 1896 and is regulated by the Charity Commissioner of Maharashtra. With a membership of 130 plus Indian and MNC companies, offices in Delhi and Mumbai and a permanent and professional staff, the association is well placed to work towards charting a growth path for the digital industry in India.
WIPRO GETS SEBI
APPROVAL FOR RELAXING COOLING PERIOD FOR OFS
APRIL 16, 2013
Wipro Limited has informed BSE that the Company vide its letter dated March 25, 2013 had applied to SEBI seeking a specific relaxation exemption from the twelve week cooling off period for carrying out an Offer for Sale through the stock exchange mechanism ("OFS") following the inter-se transfer amongst the promoter and promoter group entities on March 15, 2013.The Company is now in receipt of letter from SEBI dated April 15, 2013 ("SEBI Letter") acceding to the Company's request and permitting the promoter and promoter group (including the entities that carried out the inter-se transfer) to divest through the OFS route during the twelve weeks cool off period.
WIPRO'S SCHEME OF ARRANGEMENT
FOR DEMERGER EFFECTIVE FROM MARCH 31, 2013
APRIL 1, 2013
Wipro Limited (NYSE:WIT) today announced that the Scheme of Arrangement for the demerger of 'Diversified Business' of the company approved by the Board of Directors on November 1, 2012 is effective from March 31, 2013. The Scheme of Arrangement has been approved by the Hon'ble High Court of Karnataka and the order of the High Court filed with the Registrar of Companies.
Wipro further announced that April 11, 2013 has been fixed as the record date for the purpose of determining the members of the Company to whom Securities of the Resulting Company will be allotted and who will be entitled to the Exchange Right pursuant to the Scheme of Arrangement ('Election and Exchange Notice'). It is likely to take about six weeks from the record date for the whole process to be completed.
About Wipro Limited
(NYSE: WIT)
Wipro 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. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally.
Wipro's forward
looking and cautionary statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WIPRO 18% YOY GROWTH IN NET INCOME IN THE QUARTER
JUNE 31, 2012
Bangalore, India
and East Brunswick, New Jersey, USA – July 24, 2012 -- Wipro Limited
(NYSE:WIT) today announced financial results under International
Financial Reporting Standards (IFRS) for its first quarter ended June 30, 2012.
Highlights of the
Results:
Results for the Quarter ended June 30, 2012:
- Total Revenues were
Rs.106.53 billion ($1.92 billion1), an increase of 24% YoY.
- Net Income was Rs.15.80 billion
($284 million1), an increase of 18% YoY. Non-GAAP Adjusted Net Income was
Rs.15.74 billion ($283 million1), an increase of 19% YoY.
- Non-GAAP constant currency
IT Services Revenue in dollar terms was $1,540 million, within our
guidance range of $1,520 million to $1,550 million.
- IT Services Revenue in
dollar terms was impacted by $25 million of cross currency impact and was
$1,515 million, a YoY increase of 8%.
- IT Services Revenues in
Rupee terms was Rs.83.14 billion ($1,496 million1), an increase of 30%
YoY.
- IT Services Earnings Before
Interest and Tax (EBIT) was Rs.17.44 billion ($314 million1), an increase
of 24% YoY.
- Operating Income to Revenue for IT Services was 21% for the
quarter.
Performance for the quarter ended June 30, 2012
Azim Premji, Chairman of Wipro, commenting on the results said – “In
today’s complex business environment, global corporations are increasingly
investing in transformational technology initiatives to improve
competitiveness. We see this shift as an opportunity for us to lead this change
and help customers differentiate in this fast evolving market.”
Suresh Senapaty, Executive Director and Chief Financial Officer of Wipro,
said – “We have seen high levels of volatility in currencies globally. We have
improved profitability, while continuing to invest for growth.”
T K Kurien, Executive Director and Chief Executive Officer, IT Business,
said – “We have delivered revenues in line with our guidance in a volatile
environment. We will continue to build differentiation and invest in technology
driven business transformations for our customers as well as rewarding our
talent.”
Outlook for the
Quarter ending September 30, 2012
We expect Revenues
from our IT Services business to be in the range of $1,520 million to $1,550 million*.
* Guidance is
based on the following exchange rates: GBP/USD at 1.58, Euro/USD at 1.26,
AUD/USD at 1.01, USD/INR at 54.76.
1. For the
convenience of the reader, the amounts in Indian rupees in this release have
been translated into United States dollars at the noon buying rate in New York
City on June 29, 2012, for cable transfers in Indian rupees, as certified by
the Federal Reserve Board of New York, which was US $1= Rs.55.57. However, the
realized exchange rate in our IT Services business segment for the quarter
ended June 30, 2012 was US$1= Rs.54.89
IT Services (78%
of Total Revenue and 93% of Operating Income for the quarter ended June 30,
2012)
The IT Services
segment had 138,552 employees as of June 30, 2012, an increase of 2,632 people in
the quarter. We added 37 new customers for the quarter.
Wipro has won a
large multi-year contract from Royal Philips Electronics. Philips has chosen
Wipro as the strategic and Global Prime Partner to help transform and
standardize six Business Platforms such as Idea to Market and Market to Order
to drive growth and improved profitability.
A leading Retail
Bank and Insurance Provider in the UK has chosen Wipro to provide end-to-end
Insurance BPO Services. Wipro will be providing Third Party Administration
Services for Policy Administration and Claims Management from India and the
Republic of Ireland, in an engagement which will further enhance Wipro’s core
insurance processing capability.
Wipro has won a
multi-year engagement with a large developer, manufacturer and marketer of
medical devices whose products are used in a range of interventional medical
specialties. Wipro will support the client’s Post Market Surveillance function
including Complaints Intake, Complaints Management and Investigation services.
Wipro has won a
multi-year engagement with Al Hammadi Hospital in the Kingdom of Saudi Arabia
for implementing a highly contemporary technology platform for their upcoming
350 bed hospital in Riyadh. The transformational program will enable the upcoming
hospital to provide intuitive and consistent user experience across multiple
channels. Besides this program, Al Hammadi Hospital has also chosen Wipro as
their strategic partner for their core Hospital Information System Application.
Wipro won a multi-year
contract to implement MPLS Network for Powergrid, India’s Central Transmission
Utility (CTU), which is responsible for the complete inter-State power
transmission system.
Awards and
accolades:
Wipro was ranked
#1 in the annual ranking of product design service providers by Zinnov
Management Consulting, a leading Globalization and Market Expansion Advisory
firm. This is the third year in succession that Wipro has won this distinction
for its engineering R and D and product engineering services. Wipro has been named as one of the best
outsourcing service providers in the Global Outsourcing 100® ranking published
in 2012 by the International Association of Outsourcing Professionals (IAOP).
Wipro was ranked 7th, up from 9th place in 2011.
Wipro BPO was
recognized by Gartner, Inc. in the Leaders quadrant in the report, "Magic
Quadrant for Finance and Accounting (F and A) BPO, Global," authored by
Cathy Tornbohm and published on May 30, 2012. Gartner positioned Wipro in the
leaders quadrant based on the evaluation criteria of ability to execute and
completeness of vision. The Magic Quadrant evaluated vendor capabilities in the
Comprehensive Finance and Accounting business process outsourcing market among
18 providers.
Wipro Infotech was
ranked No.1 in the overall Network Integration market share in India for
2011-12 in the Voice and Data 100, which is the most comprehensive and reliable
annual survey on the Indian telecom and networking industry, that showcases
market share, market size, major players, global trends, market forecast and
deployment trends.
IT Products (9% of
Total Revenue and 1% of Operating Income for the quarter ended June 30, 2012)
- Our
IT Products segment recorded Revenue of Rs.9.53 billion ($172 million1) for
the quarter, a YoY decline of 5%.
- EBIT
was Rs.211 million ($4 million1) for the quarter.
- Operating
Income to Revenue for this segment was 2.2% for the quarter.
Consumer Care and
Lighting (9% of Total Revenue and 6% of Operating Income for the quarter ended
June 30, 2012)
- Our
Consumer Care and Lighting business segment recorded Revenue of Rs.9.80
billion ($176 million1) for the quarter, an increase of 30% YoY.
- EBIT
was Rs.1.14 billion ($20 million1) for the quarter, an increase of 27%
YoY.
- Operating
Income to Revenue for this segment was 11.6% for the quarter.
Wipro has signed
an agreement with Lornamead Group to acquire the Yardley business in the UK and
rest of Europe (excluding Germany and Austria). This transaction further
expands the geographic reach of the Yardley portfolio already owned by Wipro.
Wipro acquired the Yardley portfolio for Asia, Middle East, North Africa and
Australasia from Lornamead in December 2009. Wipro will also acquire the “Woods
of Windsor” business, another heritage brand in the UK, which is well known for
its floral fragrance led portfolio in personal care segment.
Wipro Limited
- Total Revenue for the quarter ended June 30,
2012 was Rs.106.53 billion ($1.92 billion1).
- Net Income for the quarter ended June 30, 2012
was Rs.15.80 billion ($284 million1).
- Non-GAAP Adjusted Net Income (excluding impact
of accelerated amortization of stock based compensation) for the quarter
ended June 30, 2012 was Rs.15.74 billion ($283 million1).
About Non-GAAP
financial measures
This press release
contains non-GAAP financial measures within the meaning of Regulation G and
Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of
our historical or future performance, financial position or cash flows that are
adjusted to exclude or include amounts that are excluded or included, as the
case may be, from the most directly comparable financial measure calculated and
presented in accordance with IFRS.
The table on page
7 provides Adjusted Net Income for the period, which is a non-GAAP measure that
excludes the impact of accelerated amortization in respect of stock options
that vest in a graded manner, and IT Services Revenue on a constant currency
basis, which is a non-GAAP measure that is calculated by translating IT
Services Revenue from the current reporting period into U.S. dollars based on
the currency conversion rate in effect for the prior reporting period. We
consider a stock option award with a graded vesting schedule to be in substance
a single award not multiple stock option awards and accordingly believe the
straight line amortization reflects the economic substance of the award. We
refer to growth rates in constant currency so that business results may be
viewed without the impact of fluctuations in foreign currency exchange rates,
thereby facilitating period-to-period comparisons of our business performance.
We believe that the presentation of this Non-GAAP Adjusted Net Income, when
shown in conjunction with the corresponding IFRS measure, provides useful information
to investors and management regarding financial and business trends relating to
its Net Income for the period.
These Non-GAAP
financial measures are not based on any comprehensive set of accounting rules
or principles and should not be considered a substitute for, or superior to,
the most directly comparable financial measure calculated in accordance with
IFRS, and may be different from non-GAAP measures used by other companies. In
addition to these non-GAAP measures, the financial statements prepared in
accordance with IFRS and the reconciliation of these non-GAAP financial
measures with the most directly comparable IFRS financial measure should be
carefully evaluated.
For internal
budgeting process, our management also uses financial statements that exclude
the impact of accelerated amortization relating to stock options that vest in a
graded manner. Management of the Company also uses Non-GAAP Adjusted Net
Income, in addition to the corresponding IFRS measure, in reviewing our
financial results.
About Wipro
Limited (NYSE: WIT)
Wipro 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. Wipro Limited is the first PCMM Level 5 and
SEI CMM Level 5 certified IT Services Company globally. Wipro also has a strong
presence in niche market segments of Infrastructure Engineering and Consumer
Products and Lighting.
MULESOFT AND WIPRO
ANNOUNCE PARTNERSHIP TO DELIVER INTEGRATION PLATFORM AND SERVICES FOR
CONNECTING APPLICATIONS ON-PREMISE AND IN THE CLOUD
MARCH 27, 2013
MuleSoft, provider of the world’s most widely used integration platform,
announced a strategic partnership today with Wipro Technologies, the Global
Information Technology, Consulting and Outsourcing business of Wipro Limited
(NYSE:WIT), to deliver an integration platform and provide value-added services
to customers. Through this partnership, MuleSoft and Wipro are looking to
extend their integration services portfolio and give their customers access to
Mule ESB, the leading open source enterprise service bus (ESB), and CloudHub,
the leading integration platform as a service (iPaaS), for connecting
applications on-premise and in the cloud.
MuleSoft is ushering in a new era of frictionless application and data
connectivity to support business processes. The value of the company’s platform
increases dramatically with every partner and customer who joins the ecosystem,
demonstrating the massive network effect that integration can drive in the
marketplace. MuleSoft’s integration platform addresses the continuum of
integration challenges of the New Enterprise, spanning on-premise and the cloud
and leveraging the open source Mule ESB together with the CloudHub iPaaS. At
the core is MuleSoft’s Anypoint™ technology, which eliminates the need for
custom point-to-point integration code.
“This partnership with MuleSoft extends our leadership in the area of
open source integration. The combination of MuleSoft’s platform and our global
technology and industry expertise will strengthen our capabilities in the area
of edge and cloud connectivity and address the need for holistic integration,”
said Krishnakumar N. Menon, Vice-President, Enterprise Business Integration at
Wipro Technologies. “We are excited about our joint vision for connecting SaaS
and enterprise applications on-premise and in the cloud, and we look forward to
working together with MuleSoft in delivering value to our clients.”
“Organizations of all sizes are facing an exponential rise in IT
complexity stemming from new applications on-premise and in the cloud, and
integration can mean the difference between being buried by complexity or
gaining competitive advantage,” said Simon Parmett, vice president of worldwide
sales at MuleSoft. “With our partnership with Wipro, MuleSoft is extending our
global footprint and accelerating our vision of connecting the New Enterprise.”
Wipro is a partner of choice for many enterprises across industry
segments for their integration and middleware needs. Wipro's Enterprise
Business Integration Practice has been rated amongst Leaders in Service
Oriented Architecture (SOA) and integration by industry analysts globally.
About Wipro
Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is
a leading Information Technology, Consulting and Outsourcing company, that
delivers solutions to enable its clients do business better. Wipro Technologies
delivers winning business outcomes through its deep industry experience and a
360 degree view of “Business through Technology” – helping clients create
successful and adaptive businesses. A company recognized globally for its comprehensive
portfolio of services, a practitioner’s approach to delivering innovation and
an organization wide commitment to sustainability, Wipro Technologies has
135,000 employees and clients across 54 countries.
About MuleSoft
MuleSoft provides the most widely used integration platform for
connecting SaaS and enterprise applications in the cloud and on-premise. With
the rise of cloud and mobile, enterprises face a choice: get overwhelmed by the
resulting explosion of end points or seize the opportunity to gain competitive
advantage. Founded on the idea that connecting applications should not be hard,
MuleSoft lets organizations harness the power of their applications through
integration. MuleSoft's Anypoint™ technology eliminates costly, time-intensive
point-to-point integration, enabling business agility. Delivered as a packaged
integration experience, CloudHub™ and Mule ESB™ are built on proven open source
technology for the fastest, most reliable integration without vendor lock-in.
Supporting billions of transactions per day, MuleSoft is used in production by
thousands of enterprises, including Walmart, MasterCard, Nokia, Nestlé and
Honeywell, and powers integrations with leading SaaS vendors such as
Salesforce.com, NetSuite, Workday, Intuit and Zuora.
DTI AND WIPRO
ANNOUNCE A STRATEGIC ALLIANCE IN LEGAL AND COMPLIANCE SUPPORT SERVICES
MARCH 22, 2013
DTI the nation’s largest private independent provider of e-discovery,
managed document review and facilities management services, announced today
that it has entered into a strategic alliance with Wipro Technologies, a
leading provider of information technology, consulting and outsourcing, for the
provision of legal and compliance support services on a global basis.
Through this alliance, DTI and Wipro are combining the experience,
systems and global footprint of both organizations to enable breakthrough
solutions for clients. The alliance is centered upon mission-critical services
including electronic discovery, managed document review, contract drafting and
intellectual property/compliance support services.
As part of the alliance, Wipro and DTI have established dedicated and
secure centers – specially reserved for targeted clients using the
“right-shoring” approach. DTI will now offer an alternative cost-effective
solution to clients through secure resources in Manila, the Philippines and
India. Wipro will deliver high value legal services via DTI’s Atlanta Knowledge
Center and two highly secured data centers in Seattle and Atlanta. Client
engagements will leverage onshore/offshore locations simultaneously and deliver
services via a hybrid global operating model.
“This alliance adds an important new dimension to our platform,” comments
Christopher Aronson, president of DTI’s Knowledge Solutions business unit. “Our
clients have been asking for more cost-effective options for certain functions
and applications. We selected Wipro as our partner due to their extraordinary
resources, experience and our shared commitment to clients and service
excellence.”
“WIPRO is committed to expanding our legal and compliance services
capabilities,” adds Manoj Punja, Senior Vice President and Global Head –
BPO. “DTI brings deep experience and
leadership in this arena, which complements our robust global platform. We are
thrilled to be able to bring these new services to our clients.”
DTI and Wipro are jointly exhibiting at the Securities Industry and
Financial Markets Association (SIFMA) conference in Phoenix this week and have
commenced engaging clients.
About DTI
DTI is the nation’s largest independent provider of in-house and
outsourced legal services and technology solutions. The company has established
service centers in major legal markets across the United States and maintains a
client list that includes Fortune 500 corporations and AmLaw 100 law firms. DTI
provides electronic discovery and document review services, legal business
process outsourcing and facilities management. The extensive experience of
DTI’s professionals, industry-leading quality and innovative technology
solutions provide DTI clients with a service offering that is unmatched in the
industry. To learn more about DTI’s national footprint, flexibility, capacity
and world-class project management.
About Wipro
Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT),
is a leading information technology, consulting and outsourcing company that
delivers solutions to enable its clients do business better. Wipro Technologies
delivers winning business outcomes through its deep industry experience and a
360-degree view of “Business through Technology” – helping clients create
successful and adaptive businesses. A company recognized globally for its
comprehensive portfolio of services, a practitioner’s approach to delivering
innovation and an organization-wide commitment to sustainability, Wipro
Technologies has 135,000 employees and clients across 54 countries.
WIPRO TECHNOLOGIES PARTNERS WITH VENDORNET TO
PROVIDE RETAILERS NEXT GEN OMNI-CHANNEL RETAIL CAPABILITIES
JANUARY 19, 2012
Wipro
Technologies, the Global Information Technology, Consulting and Outsourcing
business of Wipro Limited (NYSE: WIT), today announced that it has entered into
a strategic partnership with VendorNet, a leading provider of web-based
omni-retailing and supply chain solutions, to solve retailers' challenges when
it comes to synchronizing channels and having a single cross-channel view of
inventory.
The collaboration
involves the resale and integration of VendorNet Commerce Suite with Wipro's
ENCORE e-commerce platform and will help retailers overcome organizational and
cultural roadblocks inherent to the adoption of an omni-channel business model.
The combined Wipro and VendorNet solutions will provide retailers with a true
view of all their sales and fulfillment channels to enable a buy anywhere,
anytime customer experience.
VendorNet's
Commerce Suite delivers automated cross-channel integration and inventory
visibility technology for best source fulfillment from any location, including
stores, warehouses, and third-party suppliers. VendorNet's solutions include:
- StoreNet® Live for in-store pickup, ship-from
store and ship-to store
- Dropship Manager, Stock PO Manager
- Order Broker for distributed order management
- SKU Trak for inventory tracking technology, as
well as, add-on modules for returns and event management.
VendorNet
integrates with platforms such as Wipro ENCORE to automate order routing and
transmission, order status tracking, shipping, invoicing, reporting, and order lifecycle
visibility.
"Our
partnership with Wipro is very exciting. It is really taking the omni-channel
retailing promise to the next level providing retailers with a fully integrated
retail enterprise," stated Sharon Gardner, President of VendorNet.
"Partnering with a global company such as Wipro means retailers worldwide
have an opportunity to overcome the manageable challenges presented by
omni-channel retailing. Our combined technologies and best-practice knowledge
will ensure retailers can put the right product, at the right price, at the
right time in the hands of consumers at any point-of-purchase."
The combined
ENCORE and VendorNet solution will help retailers enhance their operations by
linking inventory across channels including online, store, and dropship
suppliers to source products from the most efficient locations.
According to Srini
Pallia, Senior Vice President and Head, Retail, CPG, Transportation and
Government, Wipro Technologies, "It is Wipro's endeavor to help retailers
improve the omni-channel customer experience, which translates into higher
sales and better margins. Through the VendorNet partnership, the ENCORE
platform will be better equipped to fulfill sales by optimizing inventory to
meet online demand and deliver a best-in-class customer experience. The ability
to leverage store inventory to augment the online experience, provides enhanced
customer experience and meets the dynamic needs of today's cross-channel
customers."
Forrester's
"U.S. Online Retail Forecast, 2009 to 2014" predicts that online
retail sales will total $249 billion by 2014 up from $155 billion in 2009. It
also forecasts that US online and web-influenced retail sales will account for
53% of total retail sales in 2014 up from 42% in 2009. Similarly, the report further
predicts web-influenced sales will reach $1.4 trillion.
These statistics
clearly demonstrate a growing demand for multi-channel integration as well as
real-time, KPI-based (Key Performance Indicator) dashboards to set business
objectives and measure performance with the associated business intelligence to
guide immediate changes in commerce, merchandizing and marketing to maximize
opportunity.
Wipro's retail
experience spans global customers across geographies and the company's focus is
to integrate legacy investments and future proof systems used to manage
Operations, CRM (Customer Relationship Management), Shrinkage, ERP (Enterprise
Resource Planning), Data Warehousing, Predictive Data Analytics and Price
Optimization. Wipro's capabilities span Grocery, Fashion, as well as Health and
Wellness Retailing.
About Wipro Technologies
Wipro
Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading
Information Technology, Consulting and Outsourcing company, that delivers
solutions to enable its clients do business better. Wipro Technologies delivers
winning business outcomes through its deep industry experience and a 360 degree
view of "Business through Technology" – helping clients create
successful and adaptive businesses. A company recognized globally for its
comprehensive portfolio of services, a practitioner's approach to delivering
innovation and an organization wide commitment to sustainability, Wipro
Technologies has 131,000 employees and clients across 54 countries.
About VendorNet
VendorNet delivers
web-based omni-retailing and supply chain solutions that enable intelligent
cross-channel commerce by integrating and routing orders from all sales
channels to the best-source fulfillment location including warehouses,
suppliers, and brick and mortar stores. These solutions optimize inventory
usage and visibility, decrease order delivery time and expense, improve
customer loyalty and satisfaction, and increase sales. More than 120 retailers
and over 18,000 suppliers, warehouses, and stores are leveraging VendorNet
solutions. Retail clients include Nine West, CompUSA, Neiman Marcus, David's
Bridal, Orvis, National Geographic, Rue La La, Saks Fifth Avenue, Liz
Claiborne, and Guitar Center. VendorNet is a wholly-owned subsidiary of GSI
Commerce. GSI Commerce is an eBay Inc. (Nasdaq: EBAY) company.
WIPRO TO EXPAND IC
DESIGN UNIT
MARCH 21, 2011
For years, chip makers have been under pressure on two fronts. They must
reduce costs but develop and ship devices in a timely fashion.
The trend has given rise to the fabless ASIC houses, such as eSilicon,
Faraday, Global Unichip, Open-Silicon, among others. These companies manage an
IC project for chip makers that require additional resources. Fabless ASIC
houses provide IC design services in one form or another, supply chain
management and other services.
Another vendor, India’s Wipro Limited, is a big player that keeps a
relatively low profile. So who is Wipro? Wipro is a large company that provides
IT solutions and services, including systems integration, information systems
outsourcing, software application development and maintenance, and research and
development services to corporations.
Within its chip services unit, the company plans to hire and expand its
workforce by 10 percent to 15 percent in 2011, said Vasudevan Aghoramoorthy,
vice president of VLSI/Systems Design
within its Product Engineering Service unit at Wipro Technologies, one of the
world’s largest third party R and D services providers.
Wipro already boasts some 1,000 chip designers and 400 systems experts
in-house. Within its chip operations, Wipro provides ''silicon turnkey’’ or
‘’concept to product’ outsourcing services.
Wipro provides what it calls a Collaborative Design, Manufacturing and
Sustenance (CDMS) service. The company provides a turnkey service, such as
product definition, IC design, project management and logistics.
Wipro can serve as an extension to a company’s internal engineering and R
and D team. This in turn can help IC makers and OEMs reduce costs and
accelerate their ‘’time to market,’’ Aghoramoorthy said.
Within its chip operation, Wipro says it has a different business model
than the other fabless ASIC vendors, which sometimes work on a royalty basis.
Instead, Wipro is more of a ''design services company,’’ Aghoramoorthy said.
''Our differentiation is that we also have systems-level expertise.’’
Like all ASIC houses, Wipro sees a troubling trend. Wipro averages about
70 to 80 ASIC design starts a year now, down from some 100 two years ago.
Although ASIC design starts are dropping for Wipro and others, the designs are
''becoming more complex,’’ he said.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.74 |
|
|
1 |
Rs.84.17 |
|
Euro |
1 |
Rs.72.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
9 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
9 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
81 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.