Wipro Ltd (WIPRO)
🎯 Key Takeaways
- Wipro is in a strategic growth phase, transitioning from mature IT services toward higher-value digital and cloud offerings, evidenced by targeted acquisitions like Alpha Net Consulting and the launch of Wipro STO360™ with Aramco and SAP. The company maintains strong profitability metrics (ROE 15.
- Revenue grew 1% QoQ to ₹24,479 in Q1FY27.
- ⚠️ 1) Macroeconomic headwinds in key markets could pressure demand for IT services despite stable margins. 2) Execution risks in integrating Alpha Net Co
- Market Cap
- ₹1.58 L Cr
- P/E Ratio
- 12.6
- P/B Ratio
- 1.79
- ROE
- 15.0%
- ROCE
- 18.1%
- Debt/Equity
- 0.19
- Div Yield
- 6.90%
- Promoter
- 72.6%
📖 The Story
Wipro is in a strategic growth phase, transitioning from mature IT services toward higher-value digital and cloud offerings, evidenced by targeted acquisitions like Alpha Net Consulting and the launch of Wipro STO360™ with Aramco and SAP. The company maintains strong profitability metrics (ROE 15.1%, ROCE 18.1%) but faces near-term pressure, reflected in a 1Y return of -34.27%. Its narrative centers on expanding its addressable market in cloud, analytics, and energy-sector digital transformation while managing capital allocation with discipline.
📰 What's Happening
In September 2026, Wipro extended the completion deadline for its acquisition of Alpha Net Consulting LLC's customer contracts to December 31, 2026, as per a regulatory filing, indicating procedural adjustments without material impact on earnings. Earlier, on September 18, 2026, the company allotted 309,369 shares across multiple ESOP schemes, signaling continued use of equity-based compensation to retain talent amid competitive talent markets. Additionally, on September 17, 2026, Wipro launched Wipro STO360™, a cloud-native solution co-developed with SAP and Aramco, targeting asset-intensive industries like oil and gas, which expands its footprint in high-growth verticals aligned with Saudi Vision 2030.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 22,697 | 23,556 | 24,236 | 24,479 |
| Operating Profit | 3,681 | 3,491 | 4,181 | 3,829 |
| OPM % | 16.2% | 14.8% | 17.3% | 15.6% |
| Net Profit | 3,262 | 3,145 | 3,522 | 3,356 |
| EPS | ₹3.10 | ₹2.98 | ₹3.34 | ₹3.20 |
Wipro's revenue has shown sequential growth, rising from ₹22,697 Cr in September 2025 to ₹24,479 Cr in June 2026, with operating margins stabilizing around 15-17% despite macroeconomic headwinds. Net profit and EPS have fluctuated slightly but remain on an upward trend, supporting the company's profitability narrative. However, the decline in 1Y return suggests market skepticism, likely due to broader IT sector softness rather than operational deterioration, as margins remain resilient and growth is being reinvested in strategic initiatives.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance on revenue or margins in the available filings, but strategic actions — including the Alpha Net acquisition, ESOP expansions, and STO360™ launch — reflect a clear focus on long-term growth in digital and industry-specific cloud solutions. The extended acquisition timeline and lack of financial disclosure suggest management is treating the move as non-material in the near term, prioritizing integration over immediate contribution.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 2,094 | 1,046 | 2,098 | 2,097 |
| Reserves | 80,270 | 80,331 | 85,921 | 83,489 |
| Borrowings | 19,204 | 19,282 | 16,787 | 16,164 |
| Total Liabilities | 1.28 L Cr | 1.26 L Cr | 1.41 L Cr | 1.31 L Cr |
| Fixed Assets | 10,407 | 9,193 | 51,690 | 10,413 |
| Investments | 43,926 | 43,970 | 46,786 | 42,500 |
| Total Assets | 1.28 L Cr | 1.26 L Cr | 1.41 L Cr | 1.31 L Cr |
The balance sheet shows stable equity levels around ₹2,097-2,098 Cr and reserves growing from ₹80,270 Cr to ₹85,921 Cr, indicating retained earnings are being reinvested or accumulated. Borrowings have declined from ₹19,204 Cr in March 2025 to ₹16,787 Cr in March 2026, reflecting a deliberate deleveraging trend. Total assets have increased steadily, supporting growth without aggressive capital structure expansion, suggesting conservative and sustainable capital allocation.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | +14,932 |
| Investing | -3,342 |
| Financing | -14,126 |
| Net Cash Flow | -2,537 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 72.7% | 72.6% | 72.6% | 72.6% |
| FII | 10.8% | 10.5% | 10.8% | 11.1% |
| DII | 7.9% | 8.4% | 7.9% | 5.2% |
| Public | 6.4% | 6.3% | 6.6% | 8.3% |
| # Shareholders | 25,15,452 | 24,42,662 | 26,03,140 | 30,41,147 |
Promoter holding remains stable near 72.6%, signaling confidence. FII shareholding has declined slightly from 11.14% in Q1FY27 to 10.79% in Q4FY26, while DII participation has increased from 7.86% to 8.38% over the same period, suggesting institutional investors are gradually reallocating toward Wipro amid sector rotation. The rising number of shareholders (from 24,42,662 to 30,41,147) reflects broader retail interest and potential inclusion in passive indices.
⚖️ Peer Comparison — IT - Software
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| TCS | 7.52 L Cr | 15.1 | 63.2% | — | 0.00 |
| INFY | 4.20 L Cr | 14.0 | 44.9% | — | 0.00 |
| HCLTECH | 3.38 L Cr | 19.4 | 31.6% | — | 0.00 |
| WIPRO | 1.58 L Cr | 12.6 | 18.1% | — | 0.19 |
| TECHM | 1.51 L Cr | 26.6 | 24.8% | — | 0.00 |
| LTM | 1.19 L Cr | 22.8 | 30.5% | — | 0.00 |
| OFSS | 90,729 | 26.6 | 60.3% | — | 0.00 |
| PERSISTENT | 84,491 | 43.5 | 32.7% | — | 0.00 |
| COFORGE | 80,800 | 37.1 | 25.6% | — | 0.04 |
| MPHASIS | 43,041 | 22.5 | 22.3% | — | 0.17 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Macroeconomic headwinds in key markets could pressure demand for IT services despite stable margins. 2) Execution risks in integrating Alpha Net Consulting and scaling STO360™ in new geographies may delay expected synergies. 3) Rising ESOP dilution could exert downward pressure on share price if not offset by performance. 4) Geopolitical exposure in energy-sector partnerships, particularly in Saudi Arabia, may introduce regulatory or operational volatility.
📋 Recent Filings
- 🔴 Corporate Action2026-10-01Wipro announced the allotment of 96,104 equity shares under its ESOP schemes on October 1, 2026, including 90,686 restricted stock units and 5,418 per…
- 🔴 Announcement2026-10-01Wipro Limited completed the acquisition of select customer contracts from Alpha Net Consulting LLC and its subsidiaries on October 1, 2026, fulfilling…
- 🔴 Corporate Action2026-09-30Wipro announced a revised completion date for its acquisition of Alpha Net Consulting LLC's customer contracts, extending the deadline to December 31,…
- 🔴 Corporate Action2026-09-18Wipro announced the allotment of 23,876 shares under the 2004 ADS Restricted Stock Unit Plan, 82,899 shares under the 2007 Restricted Stock Unit Plan,…
- 🔴 Corporate Action2026-09-17Wipro announced the grant of 310,120 ADS and 599,197 restricted stock units to employees under its 2024 ESOP scheme, effective September 17, 2026, wit…
- 🔴 Announcement2026-09-17Wipro announced the launch of Wipro STO360™, a cloud-native solution co-developed with Aramco and SAP to modernize shutdown, turnaround, and outage ma…
- 🔴 Announcement2026-09-09Wipro announced the launch of its CISO Command Center in partnership with CrowdStrike to address AI-driven cybersecurity risks. The integrated solutio…
- 🔴 Corporate Action2026-09-09Wipro announced the allotment of 1,14,031 restricted stock units under the 2007 plan and 1,50,112 shares including ADSs and RSUs under the 2024 scheme…
- 🔴 Announcement2026-09-03Wipro announced that NSE Sustainability Ratings & Analytics assigned it an ESG rating of 74, placing it in the 'Leader' category, reflecting its perfo…
- 🔴 Announcement2026-09-01Wipro announced the renewal of its multi-year Digital Workplace Services contract with ABB, extending a partnership that leverages Wipro Intelligence™…
🧠 Analyst's Read
Wipro is repositioning for growth in digital and industry-specific cloud solutions, supported by strategic moves and stable profitability, but near-term market sentiment remains weighed down by sector-wide challenges. Investors should monitor execution of the Alpha Net integration, traction of STO360™ in energy and utilities, and trends in DII/FII positioning as indicators of shifting institutional confidence.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-10-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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