Wipro

Multinational IT services and consulting company From Wikipedia, the free encyclopedia

Wipro

Wipro Limited (/ˈvɪpr/ ; stylized in lowercase title) is an Indian multinational technology company based in Bengaluru. It provides information technology, consulting and business process services. It is one of India's Big Six IT services companies. Wipro's services include cloud computing, computer security, digital transformation, artificial intelligence, robotics, data analytics, and other technologies, present in 167 countries.[5]

Quick Facts Trade name, Formerly ...
Wipro Limited
Wipro
FormerlyWestern India Vegetable Products Limited (1945–1977)
Wipro Products Limited (1977–1982)
Company typePublic
IndustryInformation technology
Consulting
Outsourcing
Founded29 December 1945; 79 years ago (29 December 1945)
FounderMH Hasham Premji
Headquarters,
India
Area served
Worldwide
Key people
Rishad Premji (Executive chairman)
Srini Pallia (CEO)[1]
Services
Revenue 92,972 crore (US$11 billion) (2025)
17,495 crore (US$2.0 billion) (2025)
13,218 crore (US$1.5 billion) (2025)
Total assets 128,185 crore (US$15 billion) (2025)
Total equity 82,577 crore (US$9.6 billion) (2025)
OwnerAzim Premji (73.85%)[2]
Number of employees
234,054 (March 2024)[3]
Subsidiaries
Websitewww.wipro.com
Footnotes / references
Financials as of 31 March 2025.[4]
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History

Summarize
Perspective

Early years

The company was incorporated on 29 December 1945 in Amalner by MH Hasham Premji as Western India Vegetable Products Limited, a manufacturer of cooking oils.[6][7][8] In 1966, after Hasham Premji's death, his son Azim Premji took over as chairperson at age 21.[9]

The company changed its name to Wipro Products Limited in 1977, followed by Wipro Limited, a syllabic abbreviation of the original name, in 1982.[7]

Shift to IT

In the 1980s, recognizing opportunities in computer hardware and software, the company established subsidiaries Wipro Infotech and Wipro Systems. In 1981, Wipro developed the first Indian minicomputer based on the Intel 8086 chip in an IISc lab.[10][11] The software division began in 1984 with the development of a spreadsheet and word-processing suite but shifted to offshore software development in 1990.[12]

By the mid-1990s, Wipro had become one of India's leading manufacturers of personal computers, peripherals, and medical diagnostic equipment.[13] In 1998, the company reported being the second-largest software exporter from India,[14] and gradually increased its focus on the higher-margin software services business which accounted for the vast majority of its profits.[15]

During the dot-com boom of the early 2000s, Wipro became the largest company in India by market capitalization, reaching a value three times that of the next largest listed company, Infosys. Consequently, Wipro's majority shareholder Azim Premji was the richest Indian for five consecutive years.[16][17]

In 2004, Wipro became the second listed Indian IT company to report annual revenues exceeding US$1 billion.[18] By 2006, approximately 30% of its total revenue came from product engineering R&D services.[19]

In 2007, Wipro introduced a line of supercomputers known as Wipro Supernova.[20] In 2011, Wipro, in collaboration with the Indian Space Research Organisation (ISRO), developed India's then-fastest supercomputer, SAGA-220, which was deployed at the Vikram Sarabhai Space Centre.[21][22]

In 2012, Wipro demerged its non-IT businesses into a new private company named Wipro Enterprises.[23] Prior to this demerger, these businesses—primarily in consumer care, lighting, furniture, hydraulics, water treatment, and medical diagnostics—accounted for about 14% of Wipro's total revenues.[24]

Operations

Wipro operates in over 60 countries and serves clients in industries such as financial services, healthcare, manufacturing, retail, and telecommunications. Major services provided by Wipro are:

  • IT services such as software development, system integration, and IT consulting.[25]
  • Business process services including customer service, finance and accounting, and human resources.[26]
  • Consulting involves advising companies on business strategies, technology solutions, and organizational improvements.[27]
  • Engineering services including product development, research and development, and technical support.[28]
  • Cloud services such as cloud migration, management, and infrastructure services.[29][30]

Acquisitions

More information Year, Company ...
YearCompanyCountryIndustryAcquisition cost
2005NewLogic[31]AustriaSemiconductor design services€47 million
2006cMango[32]United StatesTechnology$20 million
2006Enabler[33]PortugalConsulting€41 million
2007Infocrossing[34]United StatesInfrastructure management services$600 million
2008Citi Technology Services[35]United StatesTechnology$127 million
2012Promax Applications Group[36]AustraliaAnalyticsA$35 million
2014Atco I-Tek[37]CanadaTechnologyC$210 million
2015Designit[38]DenmarkDesign consultancy€85 million
2015Cellent[39]GermanyConsulting€73 million
2016HealthPlan Services[40]United StatesHealthcare technology$460 million
2016Appirio[41]United StatesCloud services$500 million
2019International TechneGroup Inc (ITI)[42]United StatesEngineering services$45 million
20204C[43]BelgiumSalesforce partner€68 million
2020Rational Interaction[44]United StatesDigital customer experience consultancyUndisclosed
2021Eximius Design[45]United StatesSemiconductor engineering services$80 million
2021Capco[46]United StatesTechnology management consultancy$1.45 billion
2021Ampion[47]AustraliaCybersecurity$117 million
2021LeanSwift[48]United StatesCloud transformation$21 million
2021Edgile[49]United StatesCybersecurity$230 million
2022Convergence Acceleration Solutions (CAS)[50]United StatesConsulting$80 million
2022Rizing Intermediate Holdings[51]United StatesSAP consultancy$540 million
2024Aggne Global[52]United StatesInsurtech$66 million
2024Applied Value Technologies (AVT)[53]United StatesConsulting$40 million
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Listing and shareholding

Thumb
Old logo of Wipro

Wipro's equity shares have been listed on Bombay Stock Exchange since 1946 and the National Stock Exchange of India where it is a constituent of the NIFTY 50. The American Depositary Shares of the company are listed on the New York Stock Exchange (NYSE) since October 2000.[54]

As of March 2024, the promoter group headed by Azim Premji held a 72.88% stake in the company, while the remaining shares were with public shareholders and an employee trust.[55]

More information Category, Percentage of Holding 31 Mar 2024 ...
CategoryPercentage of Holding 31 Mar 2024 [56]
Promoters and Promoter Group72.88%
Foreign Institutional Investors (FIIs)9.36%
Retail Investors8.39%
Insurance companies4.60%
Mutual Funds3.53%
Others1.24%
Total100%
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Employees

As of 31 March 2024, Wipro had 234,054 employees, out of which 36.6% were women.[57]

More information Financial year ended, Employee count ...
Financial year endedEmployee count
March 2024234,054 [57]
March 2023248,813 [57]
March 2022236,204 [58]
March 2021201,665 [58]
March 2020182,886 [59]
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List of CEOs since 1981:[60]

More information CEO, Tenure ...
CEO Tenure
Ashok Narasimhan 1981–1988
Ashok Soota 1991–1999
Vivek Paul 1999–2005
Azim Premji 2005–2008
Girish Paranjpe and Suresh Vaswani 2008–2011
T. K. Kurien 2011–2016
Abidali Neemuchwala 2016–2020
Thierry Delaporte 2020–2024
Srini Pallia[61] 2024–present
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Sponsorships

Criticism

In February 2023, Wipro faced criticism for reducing the annual salary package of new hires by 50%. This decision affected around 4,000 new hires, leading to backlash from employee unions like NITES, which called the move unfair and lacking transparency. Wipro stated that the revised offer was due to changing business needs and provided an immediate opportunity for candidates to start their careers.[66][67]

References

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