Wipro Ltd (WIPRO)

Information Technology · IT - Software · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹180.4 ↓ 27.62% (1Y)

🎯 Key Takeaways

Wipro is in a strategic transition phase, shifting from traditional IT services toward AI-driven growth, particularly through its Gemini Enterprise partnership and AI initiatives like WINGS and the Applied AI Center of Excellence. While large deal momentum remains strong, especially in BFSI and EMEA, near-term challenges persist due to Healthcare revenue declines and cautious guidance, reflecting a broader industry slowdown in IT services demand.
Revenue grew 1% QoQ to ₹24,479 in Q1FY27.
⚠️ Healthcare segment continues to face pressure in the US market due to payer dynamics, with sequential revenue decline of 2.6% in Q1 FY27 despite a str

Market Cap

₹1.79 L Cr

P/E Ratio

14.3

P/B Ratio

2.03

ROE

15.1%

ROCE

18.1%

Debt/Equity

0.19

Div Yield

6.10%

Promoter

72.6%

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📖 The Story

Wipro is in a strategic transition phase, shifting from traditional IT services toward AI-driven growth, particularly through its Gemini Enterprise partnership and AI initiatives like WINGS and the Applied AI Center of Excellence. While large deal momentum remains strong, especially in BFSI and EMEA, near-term challenges persist due to Healthcare revenue declines and cautious guidance, reflecting a broader industry slowdown in IT services demand.

📰 What's Happening

In Q1 FY27, Wipro reported flat YoY revenue growth of ₹33.6 crores with a 1.2% QoQ decline, yet secured $3.4 billion in order wins, including $1.6 billion from large deals, driven by BFSI and EMR sectors. Management highlighted AI as a key growth lever, targeting 17%-17.5% margins in coming quarters. In Q3 FY26, revenue grew 10.6% YoY to ₹2,585.9 million with $1.6 billion in large deal bookings, though IT Services margin declined 1.3% QoQ to 16%. The company also expanded its Google Cloud AI partnership to scale Gemini Enterprise, training 10,000 AI-certified specialists and launching the LIFT framework to accelerate AI adoption across client operations.

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 improvement, rising from ₹22,697 crores in Sep 2025 to ₹24,479 crores in Jun 2026, with operating margins stabilizing around 15.6%-17.3% before slight compression. Despite this, net income and EPS growth have been muted, increasing only 0.6% YoY in Q3 FY26 to ₹33,563 million, indicating margin pressure from soft IT services demand. The company's investment in AI infrastructure and talent is likely contributing to short-term cost pressures, even as it positions for higher-margin digital services in the medium term.

🔮 Management Outlook & What's Next

Management expects Q2 FY27 revenue to grow sequentially by -1.5% to +0.5% in constant currency, with margins targeted at 17% to 17.5%. They anticipate AI-driven deals to be margin-accretive over time, supported by inorganic contributions from Mindsprint. Despite near-term Healthcare headwinds and soft demand, management remains focused on scaling AI capabilities and expanding high-growth verticals like Tech and Communications to drive sustainable growth.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	1,046	2,094	2,097	2,098
Reserves	80,331	80,270	83,489	85,921
Borrowings	19,282	19,204	16,164	16,787
Total Liabilities	1.26 L Cr	1.28 L Cr	1.31 L Cr	1.41 L Cr
Fixed Assets	9,193	10,407	10,413	51,690
Investments	43,970	43,926	42,500	46,786
Total Assets	1.26 L Cr	1.28 L Cr	1.31 L Cr	1.41 L Cr

Wipro maintains a strong balance sheet with equity of ₹2,098 crores and reserves of ₹85,921 crores as of Mar 2026, while borrowings have declined to ₹16,787 crores from ₹19,204 crores a year ago, indicating active deleveraging. Total assets have grown steadily, reflecting investments in digital transformation and strategic partnerships. The company's low debt-to-equity ratio of 0.19 underscores financial stability and prudent capital management.

💰 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%, but Foreign Institutional Investor (FII) ownership has declined from 10.81% in Q2 FY26 to 10.79% in Q4 FY26 and 11.14% in Q1 FY27, suggesting mixed foreign interest. Domestic Institutional Investor (DII) shareholding has increased from 7.88% to 8.38% over the same period, indicating growing confidence among local investors. The rising number of shareholders — from 24,42,662 in Q3 FY26 to 30,41,147 in Q1 FY27 — reflects expanding retail participation.

⚖️ Peer Comparison — IT - Software

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
TCS	8.48 L Cr	17.0	63.2%	46.7%	0.00
INFY	4.64 L Cr	15.4	44.9%	32.7%	0.00
HCLTECH	3.57 L Cr	20.4	31.6%	23.2%	0.00
WIPRO	1.79 L Cr	14.3	18.1%	15.1%	0.19
TECHM	1.60 L Cr	28.2	24.8%	17.4%	0.00
LTM	1.39 L Cr	26.5	30.5%	21.6%	0.00
OFSS	1.06 L Cr	31.1	60.3%	43.6%	0.00
PERSISTENT	92,307	47.5	32.7%	24.5%	0.00
COFORGE	89,069	40.9	25.6%	20.7%	0.04
MPHASIS	46,816	24.5	22.3%	17.8%	0.17

🔗 Peer Stock Analyses

TCS INFY HCLTECH TECHM LTM

⚠️ Risk Factors

1. Healthcare segment continues to face pressure in the US market due to payer dynamics, with sequential revenue decline of 2.6% in Q1 FY27 despite a strong pipeline. 2. IT Services margin is under pressure, declining 1.3% QoQ in Q3 FY26 to 16.0%, reflecting pricing pressure and soft demand in traditional outsourcing. 3. Management's margin recovery target of 17%-17.5% depends on AI adoption and large deal execution, which carry execution and timing risks. 4. Rising ESOP allocations may lead to share dilution, potentially impacting existing shareholders' value over time.

📋 Recent Filings

🧠 Analyst's Read

Wipro is making strategic bets on AI to reposition its growth trajectory, but near-term execution challenges and margin headwinds require patience. Investors should monitor sequential revenue trends, Healthcare recovery, and the pace of AI-driven deal conversion to assess the effectiveness of its transformation strategy.

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 2026-09-01.

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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