history of wipro

7/29/2019 History of Wipro

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INTRODUCTION

Introduction of company

Wipro Limited (Wipro), incorporated on December 29, 1945, is a global information

technology (IT), services company. Wipro provides a range of IT services, software solutions

and research and development services in the areas of hardware and software design to

companies worldwide. The Company uses its development centers located in India and

worldwide, quality processes and global resource pool to provide IT solutions and deliver

time-to-market and time-to-development advantages to its clients. It also provides business

process outsourcing (BPO) services. The Company operates in three segments: IT Services

business segment, IT Products business segment and Consumer Care and Lighting business

segment. On June 10, 2011, it acquired the global oil and gas information technology practice

of the Commercial Business Services Business Unit of Science Applications International

Corporation Inc. along with 100% interest in SAIC Europe Limited and SAIC India Private

Limited. On July 2, 2011, it also acquired 100% interest of SAIC Gulf LLC (SAIC).

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 Wipro

personal desktop computers, Wipro servers and Wipro notebooks. It 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. The Company holds 49% interest in Wipro GE Medical Systems Private

Limited.


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IT Services

The Companys 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. Business Application Services (BAS) offers integrated technology to the

enterprise IT landscape for its customers. Its business process solutions are applied in the

areas of enterprise resource planning (ERP), supply chain management and customer

relationship management with packages, including SAP and Oracle. It offers business-to-

customer (B2C), business-to-business (B2B) and business-to-employee (B2E) collaboration

and commerce solutions. It 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 enable compliance

programs to adapt with agility to constantly evolving business and IT risks. Its services

enable the clients to develop a testing strategy with innovative solutions 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 Companys global infrastructure services (GIS) backed by its IT360 framework enable

clients to deploy the latest in technology solutions. Some of its key industry specific service

offerings include Wireless Place, Shoptalk, and Bank in a box, while its traditional offerings

include Data Center Management, Cloud, Managed Network, Managed Security, End User

Computing and Business Advisory services. Its market proven solutions frameworks, such as

Digital TV middleware stacks, tele-health gateway and automotive connectivity solution and

product lifecycle services, such as Collaborative Design, Manufacturing & Sustenance

(CDMS) program. Wipro Mobility Solutions enable mobile products and applications from

design of mobile devices creating mobile ecosystems for enterprises to serve internal and

external customers. Its BPO service offerings 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 repetitiveprocesses like claims processing, mortgage processing and document management;


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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 IVR based voice solutions.

The Companys Analytics and Information Management service helps customers accelerate

enterprise wide performance through smart, agile and integrated analytical solutions and

frameworks. Business Intelligence, Performance Management and Information Management

it helps customers derive valuable insights, make informed decisions and drive revenues by

harnessing and leveraging enterprise information. 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) helps

companies solve business issues. CS has nine industry consulting practices, which includes

Business Transformation, Product Strategy, Supply Chain Management, Finance and

Accounting, Human Resources and Organizational Change Management, CRM, Process

Excellence, Risk and Regulatory Compliance and Enterprise Architecture. Its consultants are

based across North America, Western Europe, India, the Middle East, Africa and the Asia

Pacific. The Company competes with Accenture, IBM Global Services Cognizant

Technology Solutions Corporation and Tata Consultancy Services.

IT Products

Wipros IT Products segment provides a range of IT products encompassing computing,

storage, networking, security and software products. The Company sells IT products

manufactured by the Company, as well as third-party IT products. Its range of IT Products

consists of Wipro manufactured products, enterprise platforms, networking solutions,

software products, data storage, contact center infrastructure, enterprise security and

emerging technologies. The clients for its IT Products segment range from single users to

large enterprises. It provides its offerings to enterprises under all major industries, including

the government, defense, IT and ITeS, telecommunications, manufacturing, utilities,

education and financial services.


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The Companys manufactured range of products includes desktops, notebooks, net power

servers, netStor storage and super computers. It offers form, factors and functionalities that

cater to the entire spectrum of users-from individuals to corporate entities. The Companys

offerings enterprise platforms category include design and deployment services for enterprise

class servers, databases and server computing resource management software. The

Companys offerings under networking solutions category are comprised of consulting,

design, deployment and audit of enterprise wide area network (WAN), wireless local area

network (LAN) and unified communication systems. The Companys products under

software products category are comprised of enterprise application, data warehousing and

business intelligence software from software product companies.

The Companys products under data storage category are comprised of network storage,

secondary and near line storage, backup and storage fabrics. The Companys offerings

include switch integration, voice response solutions, computer telephony interface, and

customized agent desktop application, predictive dialer, customer relationship management,

multiple host integration and voice logger interface. The Companys security products

include intrusion detection systems, firewalls and physical security infrastructure covering

surveillance and monitoring systems. It also offers new technologies, including virtualization,

Internet protocol (IP) video solutions and private cloud implementations.

The Company competes with HCL, Tata Consultancy Services, CMC, Redington, IBM, Dell,

HP, Lenovo, Acer, Sony and Toshiba.

Consumer Care and Lighting

Wipros Consumer Care and Lighting (CCL) business segment focuses on market segments

in personal care in specific geographies in Asia, the 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 and office products. Its office solutions

include lighting products, modular switches, modular furniture and security solutions. Its

Santoor soap brand is the soap category brand, and its Safi brand is the Halal toiletries brand

in Malaysia. Its Yardley brand operates in the Middle East in the luxury segment of personal

care.


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The Companys 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 Yardley, Enchanteur,

Safi, Eversoft and Romano. Its product lines include soaps and toiletries, as well as baby

products, all produced using ethnic ingredients. Its umbrella brands include Santoor,

Chandrika, Wipro Active and Wipro Baby Soft, a range of infant and child care products that

includes soap, talcum powder, oil, diapers and feeding bottles and wellness products.

The Companys product line includes modular switches, incandescent light bulbs, compact

fluorescent lamps and luminaries. It operates both in commercial and retail markets. It has

also developed commercial lighting solutions for pharmaceutical production centers, retail

stores, software development centers and other industries. It also offers security solutions for

household and institutional consumers. Its modular furniture is for office use and includes

workstations, storage and chairs. Its product range includes premium workstations and

seating systems designed by international designers. It operates both in commercial and retail

markets. It sells its products to software development centers, 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, hyper marts, super marts, traditional retailers,

van operators and wholesalers. It sells and markets the consumer care products primarily

through its distribution network in India, which has access to over 4,000 distributors and

approximately 1.9 million retail outlets throughout the country. It sells a portion of its

lighting products to major industrial and commercial customers through its direct sales force,

from 34 sales offices located throughout India. The Company competes with Unilever,

Proctor and Gamble, Johnson & Johnson, LOreal, ITC (FMCG), Reckitt Benckiser, Godrej,

Philips, General Electric, Havells, Bajaj, Crompton and BP Ergo.


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Others

Wipros others business segment includes its infrastructure engineering business. The

Companys 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 pumps, motors and valves for international

companies. The Company has manufacturing facilities in Europe, Brazil, China and India and

sell to customers across the globe. It also expanded this business segment to provide water

solutions that address the entire spectrum of treatment solutions and systems for water and

waste water. It's others business segment also includes its Wipro Eco Energy business unit,

which provides energy generation, distribution and consumption.

The Company competes with UT Limited (India), Dongyong, Pacoma, Sundaram Hydraulics,

Dantal, the Kayaba, Precision Hydraulics Company and Hyva.

Group Companie s

Wipro Infrastructure Engineering Ltd. Wipro Inc. Wipro Japan KK Wipro Shanghai Ltd. Wipro Trademarks Holding Ltd. Wipro Travel Services Ltd. Wipro Cyprus Private Ltd.

Wipro Consumer Care Ltd. Wipro Health Care Ltd. Wipro Chandrika Ltd.(a) Wipro Holdings (Mauritius) Ltd. Wipro Australia pity Ltd. Quantech Global Service Ltd.


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HISTORY OF WIPRO

Early formative years

The company was incorporated on 29 December 1945 at Mumbai by Mohamed Hasham

Premji as Western India Products Limited, later abbreviated to Wipro. It was initially set up

as a manufacturer of vegetable ghee, vanaspati, refined oils including salad oil in Amalner,

Maharashtra under the trade names of Kisan, Sunflower and Camel The company logo still

contains a sunflower to reflect their original business.

In 1966, post his fathers death Azim Premji rushed back from Stanford University and took

over Wipro as a chairman at the age of 21. He was instrumental in transforming Wipro into a

multi-billion dollar diversified corporation. Azim Premji is a major shareholder in Wipro.

During the 1970s and 1980s, the company shifted its focus and began to look into business

opportunities in the IT and computing industry, which was at a nascent stage in India at that

time. In 1977, the name of the Company was changed from Western India Vegetable

Products Limited., to Wipro Products Limited., with effect from 7 June.

The year 1980 marked the arrival of Wipro in the IT domain and in the year 1982, the name

was changed from Wipro Products Limited to Wipro Limited. Meanwhile Wipro continued to

expand in the consumer products domain with the launch of `Ralak' a tulsi based family soap

and `Wipro Jasmine', a toilet soap.

1988-1992

In 1988, Wipro diversified its product line into heavy duty industrial cylinders and mobile

hydraulic cylinders. A joint venture company with General Electric of U.S.A., in the name of

Wipro GE Medical Systems Pvt. Ltd. was set up in 1989 for the manufacture, sales and

service of diagnostic and imaging products. Later, in 1991, tipping systems and Eaton

hydraulic products were launched. The Wipro Fluid Power division, in 1992, developed

expertise to offer standard hydraulic cylinders for construction equipment and truck tipping

systems. The market saw the launch of the "Santoor" talcum powder and "Wipro Baby Soft"

range of baby toiletries in 1990.
http://en.wikipedia.org/wiki/Azim_Premjihttp://en.wikipedia.org/wiki/Azim_Premjihttp://en.wikipedia.org/wiki/Azim_Premjihttp://en.wikipedia.org/wiki/Azim_Premji


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1994-2000

It was in 1994 that Wipro set up an overseas design centre, Odyssey 21 for undertaking

projects and product developments in advanced technologies for overseas clients. Wipro

InfoTech and Wipro Systems were amalgamated with Wipro in April that year. Five of

Wipro's manufacturing and development facilities secured the ISO 9001 certification during

1994-95. In 1999, Wipro acquired Wipro Acer. Wipro Super Genius personal computers

(PCs) became the only Indian PC range to obtain the US-based National Software Testing

Laboratory's (NSTL) Certification for Year 2000 (Y2K) compliance. Wipro Limited joined

hands with a global telecom major KPN (Royal Dutch telecom) to form a joint venture

company Wipro Net Limited to provide internet services in India. The year 2000 was the

year Wipro launched solutions for convergent networks targeted at Internet and telecom

solution providers in the names of Wipro OSS Smart and Wipro WAP Smart.

2001 onwards

In February 2001, Wipro became the first software technology and services company in India

to be certified for ISO 14001 certification. Wipro also achieved ISO 9000 certification to

become the first software company to get SEI CMM Level 5 in 2002. Wipro Consumer Care

and Lighting Group entered the market of Compact Fluorescent Lamps, with the launch of a

range of CFL, under the brand name of Wipro Smartlite. As the company grew, a study

revealed that Wipro was the fastest wealth creator for 5 years (19972002). The same year

witnessed the launch of Wipros own laptops with Intel's Centrino mobile processor.

20Wipro also entered into an exclusive agreement with the owners of Chandrika for

marketing of their soap in select states in India. It set up a wholly owned subsidiary company

viz. Wipro Consumer Care Limited to manufacture consumer care and lighting products. In

2004, Wipro joined the billion dollar club. It also partnered with Intel for i-shiksha. . The year

2006 saw Wipro acquire cMango Inc., a US based Technology Infrastructure Consulting firm

Enabler, and a Europe based retail solutions provider. In 2007, Wipro inked a large deal with

Lockheed Martin. It also entered into a definitive agreement to acquire Oki Techno Centre

Singapore Pte Ltd (OTCS) and signed an R&D partnership contract with Nokia Siemens

Networks in Germany. The year 2008 saw Wipros foray into the clean energy business with

Wipro Eco Energy.


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Business Divisions of Wipro :-

Wipro IT

Wipro Technologies, the global IT business of Wipro Limited is a leading Information

Technology, consulting and outsourcing company with a comprehensive portfolio of services

and an organization wide commitment to sustainability and innovation. The IT Products

segment sells a range of Wipro personal desktop computers, Wipro servers and Wipro

notebooks. It is also a value added reseller of desktops, servers, notebooks, storage products,

networking solutions and packaged software for international brands.

Wipro entered into the technology business in 1981 and has over 130,000 employees and

clients across 54 countries today. IT revenues stood at $ 5.9 billion for the year ended March

31, 2012 with a repeat business ratio of over 95%.

Wipro Technologies enables clients to respond and change according to business needs, to

do business better and be future-ready. It provides IT services, outsourced R&D,

infrastructure services, business process services and business consulting The business model

at Wipro Technologies Ltd is an industry aligned customer facing model which gives greater

understanding of customers businesses to build industry specific solutions.

Wipro Consumer Care & Lighting

Wipro Consumer Care and Lighting (WCCLG), a business unit of Wipro Limited operates in

the FMCG segment offering a wide range of consumable commodities. Established in 1945,

the first product to be introduced by WCCLG was vegetable oil, later popularized under the

brand name 'Sunflower Vanaspati'. It offers personal care products, such as Wipro Baby Softand Wipro Safe wash, toilet soaps like Santoor and Chandrika and international brands like

Yardley. Its portfolio of lighting solutions includes products like Smartlite CFL, LED,

emergency lights and more.

Through its customer-centric products and acquisitions, Wipro Consumer Care and Lighting

has become a fast growing company in the FMCG segment.


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Wipro Infrastructure Engineering:-

Wipro Infrastructure Engineering is the hydraulics business division of Wipro Limited and

has been in the business of manufacturing hydraulic cylinders, truck cylinders, and theircomponents and solutions since 1976. This division delivers hydraulic cylinders to

international OEMs and represents the Kawasaki, Sun Hydraulics and Teijin Seiki range of

hydraulic products in India. It has entered into partnerships with companies like Kawasaki

and aerospace giant EADS. The commitment to quality has made Wipro Infrastructure

Engineering the second largest independent manufacturer of cylinders in the world. The

company has recently ventured into water treatment systems and solutions to cater to the

needs of various industries.

Wipro GE Medical Systems Limited:-

Wipro GE Medical Systems Limited is Wipros joint venture with GE Healthcare South Asia.

It is engaged in the research and development of advanced solutions to cater to patient and

customer needs in healthcare. This partnership, which began in 1990, today includes

offerings like gadgets and equipment for diagnostics, healthcare IT solutions and services to

help healthcare professionals combat cancer, heart disease and other ailments. There iscomplete adherence to Six Sigma quality standards in all products.


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Company Profile:-

Wipro Technologies is the No.1 provider of integrated business, technology and process

solutions on a global delivery platform. Wipro Technologies is a global services provider

delivering technology-driven business solutions that meet the strategic objectives of our

clients. Wipro has 40+ Centers of Excellence that create solutions around specific needs of

industries. Wipro delivers unmatched business value to customers through a combination of

process excellence, quality frameworks and service delivery innovation. Wipro is the World's

first CMMi Level 5 certified software services company and the first outside USA to receive

the IEEE Software Process Award. Wipros complete range of IT Services addresses the

needs of both technology and business requirements to help organizations leverage leading-

edge technologies for business improvement. Wipro takes charge of the IT needs of the entire

enterprise. The gamut of services extends from Enterprise Application Services (CRM, ERP,

e-Procurement and SCM), to e-Business solutions. Wipros enterprise solutions have served

and continue to serve clients from a range of industries including Energy and Utilities,

Finance, Telecom, and Media and Entertainment. Wipros TIS is the largest Indian IT

infrastructure service provider Wipros Technology Infrastructure Services (TIS) is the

largest Indian IT infrastructure service provider in terms of revenue, people and customers

with more than 200 customers in US, Europe, Japan and over 650 customers in India. It is

powered by the expert skills of over 6,500 technical specialists and state-of-the-art BS 15000

certified infrastructure for operations support. A phased approach towards process

standardization, process optimization and process re-engineering. Wipro BPO provides a

broad range of services from customer relationship management, back office transaction

processing to industry-specific solutions. The key element of services delivery is an

integrated approach towards providing increasing value over the entire course of our client

relationships. True value from technology requires an in-depth understanding of business

strategy.

Todays businesses need partners who can talk about strategy and technology in the same

conversation. At Wipro, we believe true value from technology requires an in-depth

understanding of business strategy. Our cross-industry consulting services help you craft a

vision for your organization and then provide a specific, practical business and technologyframework that will make that vision a reality. Our consulting competencies spread across


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business, process, quality and technology consulting. We've developed a model called

"Extended Engineering that leverages synergies across the value chain

As product manufacturers and platform vendors across the world strive to make better

products with shorter development cycles and reduced total cost of ownership, we at Wipro

Technologies partner with them to provide comprehensive solutions in product lifecycle

management and product realization. At Wipro, we've developed a model called "Extended

engineering" that allows you to leverage synergies across the value chain and progress swiftly

from concept to market. We are now the world's largest contract R&D house for telecom,

auto and electronics


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Director's Report:-

Financial Performance

Key aspects of financial performance for Wipro and its group companies and standalone /consolidated financial results of Wipro Limited for the financial year 2011-12 are tabulated

below:

(Rs. in Mn)

Consolidated Standalone

2011-12 2010-11 2011-12 2010-11

Sales and Other income 384,563 318,094 329,103 269,812

Profit before Tax 69,813 62,348 59,186 57,055

Provision for Tax 13,845 9,695 12,335 8,618

Minority interest and equity inearnings/(losses) in affiliates

77 271 - -

Profit for the year* 56,045 52,924 46,851 48,437

Appropriations

Interim Dividend 4,917 4,908 4,917 4,908

Proposed Dividend on equity shares 9,835 9,818 9,835 9,818

Corporate tax on distributeddividend

2,393 2,204 2,393 2,204

Transfer to General Reserve 4,685 4,844 4,685 4,844

Balance retained in Profit & Lossaccount

65,365 31,150 51,684 26,663

*profit for the year in standalone results is after considering loss of Rs. 2,787 million (March2011: gain of Rs. 326 million) relating to changes in fair value of forward contractsdesignated as hedges of net investment in non-integral foreign operations, translation offoreign currency borrowings and changes in fair value of related cross currency swapstogether designated as hedges of net investment in non-integral foreign operations. In theconsolidated Accounts, these are considered as hedges of net investment in non-integralforeign operations and are recognized directly in shareholders funds. (Refer note 33)


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Outlook

According to Nasscom Strategic Review 2012, Global technology spend is expected to growby 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 increasedadoption of cloud, mobility, analytics and social media. India accounts for less than 5% of theglobal technology spending and this provides strong headroom for growth of the IT-BPOsector in India.

Worldwide IT spending is forecast to total $3.7 trillion in 2012, a 2.5 percent increase from2011, according to the latest outlook by Gartner, Inc.

Subsidiary Companies

The Ministry of Corporate Affairs, Government of India, has granted a general exemption

under section 212(8) of the Companies Act, 1956 from the requirement to attach detailedfinancial statements of each subsidiary. In compliance with the exemption granted, we have

presented in page 190 to 192 summary financial information for each subsidiary.

The detailed financial statements and audit reports of each of the subsidiaries are available forinspection at the registered office of the company during office hours between 11 am to 1 pmand upon written request from a shareholder, your company will arrange to send the financialstatements of subsidiary companies to the said shareholder.

Consolidated Results

Our Sales for the current year grew by 21% to Rs. 384,563 million and our Profit for the yearwas Rs. 56,045 million, recording an increase of 6% over the previous year.

Dividend

Your Directors recommend a final Dividend of 200% (Rs. 4/- per equity share of Rs. 2/-each) to be appropriated from the profits of the year 2011-12, subject to the approval of theshareholders at the ensuing Annual General Meeting. The Dividend will be paid incompliance with applicable regulations.

During the year 2011-12, unclaimed dividend of Rs. 5,731,075/-was transferred to theInvestor Education and Protection Fund, as required under the Investor Education andProtection Fund (Awareness and Protection of Investor) Rules, 2001.

Interim Dividend

Pursuant to the approval of Board of Directors on January 20, 2012, your company haddistributed an interim dividend of Rs. 2/- per share, of face value of Rs. 2/- each, toshareholders, who were on the Register of Members of the company as at closing hours ofJanuary 25, 2012, being the record date fixed by the Board of Directors for this purpose.Interim Dividend was paid on February 3, 2012.


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Acquisitions in ITS Space

During the year, the Company acquired IT Business of SAIC Group and entered in to a JointVenture Agreement with Kawasaki and for an acquisition in Brazil for its InfrastructureEngineering Business.

Investments in direct subsidiaries

During the year under review, your Company had invested an aggregate amount of USD 101Mn as equity in its direct subsidiaries i.e. Wipro Cyprus Private Limited, Wipro Inc, WiproHoldings Mauritius Limited and Wipro Infrastructure Engineering Machinery (Changzhou)Co., Ltd. Apart from this, your Company had funded its subsidiaries, from time to time, as

per the fund requirements, through loans, guarantees and other means.

Research and Development

Requirement under Rule 2 of Companies (Disclosure of particulars in the report of Board ofDirectors) Rules, 1988 regarding Technical Absorption and Research and Development inForm B is given in page 53 to 54 of the Annual Report, to the extent applicable.

Corporate Governance & Corporate Social Responsibility

Your company believes that Corporate Governance is the basis of stakeholder satisfaction.Your company governance practices are described separately in detail in the section onCorporate Governance Report (page 64 to 92) of this Annual Report. Your company hasobtained a certificate from V. Sreedharan & Associates, Company Secretaries on compliancewith clause 49 of the listing agreement with Indian Stock Exchanges. This certificate is givenin page 93 of this Annual Report.

The Ministry of Corporate Affairs had issued National Voluntary Guidelines on Social,Environmental and Economic Responsibilities of Business 2011 for adoption by companies.The Guidelines broadly outline governance based on Ethics, Transparency andAccountability, Goods and Services that contribute to sustainability, promote well being ofemployees, respect the interest of disadvantaged, vulnerable and marginalized groups of stake

holders, promotion of human rights, protect and restore environment, supporting inclusivegrowth and equitable development and provide value to our customers. Corporate SocialResponsibility initiatives are provided in page no. 94 to 116.

Wipro Employee Stock Option Plans (WESOP) / Restricted Stock Unit Plans

Summary Information on stock options program of the Company is provided as Annexure Bof this report. The information is being provided in compliance with Clause 12 of theSecurities and Exchange Board of India (Employee Stock Option Scheme) and (EmployeeStock Purchase Scheme) Guidelines, 1999, as amended. No employee was issued StockOption, during the year equal to or exceeding 1% of the issued capital of the Company at the

time of grant.


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Foreign Exchange Earnings and Outgoings

During the year, your company has earned foreign exchange of Rs. 234,413 million and theoutgoings in foreign exchange were Rs. 99,782 million, including outgoings on materialsimported and dividend.

Conservation of Energy

The Company has taken several steps to conserve energy through its initiatives disclosedseparately as part of this Annual Report. The information on Conservation of Energy asrequired under Section 217(1)(e) of the Companies Act, 1956 read with Rule 2 of theCompanies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is

provided in Annexure A in page 52 of this Annual Report.


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Auditors Report of Wipro:-


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Let's get on with the key points of distinction between the two:-

Geographical focus:-

Both the companies generate a large part of their revenues from the developed economies

such as America and Europe. However, Infosys earns a larger chuck from the North

American market. As compared to Infosys, Wipro has a higher share of revenues from the

European markets. This makes Wipro more vulnerable to the prevailing uncertainty in the

European markets. But the saving grace for the company is that it generates a large part of

The ROW (Rest of the World) business from Indian and Middle East Markets, which have

been growing in recent times.

Industry wise client distribution :-

Banking, Financial Services & Insurance (BFSI) industry has been the biggest growth driver

for the IT sector. And the same is true for Infosys as well. In fact, Infosys derives a large part

of its revenues from this sector. Recently, Infosys has started focusing on the healthcare

vertical which presents a good growth opportunity in the future. As for Wipro, all the

industry verticals contribute almost evenly to total IT revenues


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Service focus :-

Here, Infosys seems to have some upper hand over Wipro as the former generates a larger

share from the high end services such as consulting. A note to the readers is that these are

also the higher margin businesses.

Several IT services such as Application Development & Maintenance (ADM) are

already commoditized. Hence, they do not offer better profitability. Considering this,

Infosys had started focusing on high end services. And this helped company maintain

its margins.

Generally Indian IT companies are

services oriented. Hence, they do not

generate much from the product offering.

However, since the advent of cloud

computing companies have started

focusing on Product, Platform &

Solutions services. Infosys aims to grow this business to as high as 1/3rd of its total

revenue. On similar lines, Wipro is also focusing on mobility, analytics and cloud

computing. However, neither company can brag of a large contribution from cloud

computing as of now as the offering is still at a relatively nascent stage.


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PROFIT & LOSS ACCOUNT OF WIPRO:-

------------Rs In Cr---------

Particulars Mar12 Mar 11 Mar10 Mar 09

12 months 12 months 12 months 12 months

Income

Sales Turnover 31,803.40 26,401.20 23,006.30 21,612.80

Excise Duty 120.50 100.70 84.30 105.50

Net Sales 31,682.90 26,300.50 22,922.00 21,507.30

Other Income 524.90 603.30 866.70 -480.40

Stock Adjustments -44.90 31.60 111.00 -3.80

Total Income 32,162.90 26,935.40 23,899.70 21,023.10

Expenditure

Raw Materials 4,684.90 3,805.60 3,768.80 3,438.80

Power & Fuel Cost 233.40 199.70 141.40 154.00

Employee Cost 13,223.70 10,937.40 9,062.80 9,249.80

Other Manufacturing

Expenses3,722.90 2,780.20 2,145.30 1,687.80

Selling and Admin Expenses 2,057.60 1,703.30 1,491.40 1,523.00

Miscellaneous Expenses 1,495.80 1,145.00 921.80 691.40

Preoperative Exp Capitalized 0.00 0.00 0.00 0.00

Total Expenses 25,418.30 20,571.20 17,531.50 16,744.80

Operating Profit 6,219.70 5,760.90 5,501.50 4,758.70

PBDIT 6,744.60 6,364.20 6,368.20 4,278.30

Interest 79.90 58.60 99.80 196.80

PBDT 6,664.70 6,305.60 6,268.40 4,081.50

Depreciation 739.50 600.10 579.60 533.60


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Other Written Off 6.60 0.00 0.00 0.00

Profit Before Tax 5,918.60 5,705.50 5,688.80 3,547.90

Extra-ordinary items 0.00 0.00 0.00 0.00

PBT (Post Extra-ord Items) 5,918.60 5,705.50 5,688.80 3,547.90

Tax 1,233.50 861.80 790.80 574.10

Reported Net Profit 4,685.10 4,843.70 4,898.00 2,973.80

Total Value Addition 20,733.40 16,765.60 13,762.70 13,306.00

Preference Dividend 0.00 490.80 0.00 0.00

Equity Dividend 1,475.20 981.80 880.90 586.00

Corporate Dividend Tax 239.30 220.40 128.30 99.60

Per share data (annualized)

Shares in issue (lakhs) 24,587.56 24,544.09 14,682.11 14,649.81

Earnings Per Share (Rs) 19.05 17.74 33.36 20.30

Equity Dividend (%) 300.00 200.00 300.00 200.00

Book Value (Rs) 99.04 86.86 120.49 85.42

BALANCE SHEET OF WIPRO.... P.T.O


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Particular Mar12 Mar 11 Mar 10 Mar 09

12 months 12 months 12 months 12 months

Sources Of Funds

Total Share Capital 491.70 490.80 293.60 293.00

Equity Share Capital 491.70 490.80 293.60 293.00

Share Application Money 0.00 0.70 1.80 1.50

Preference Share Capital 0.00 0.00 0.00 0.00

Reserves 23,860.80 20,829.40 17,396.80 12,220.50

Revaluation Reserves 0.00 0.00 0.00 0.00

Net worth 24,352.50 21,320.90 17,692.20 12,515.00

Secured Loans 1.00 0.00 0.00 0.00

Unsecured Loans 5,242.20 4,744.10 5,530.20 5,013.90

Total Debt 5,243.20 4,744.10 5,530.20 5,013.90

Total Liabilities 29,595.70 26,065.00 23,222.40 17,528.90

Application of funds

Gross Block 8,807.80 7,779.30 6,761.30 5,743.30

Less: Accum. Depreciation 4,158.00 3,542.30 3,105.00 2,563.70

Net Block 4,649.80 4,237.00 3,656.30 3,179.60

Capital Work in Progress 490.10 603.10 991.10 1,311.80

Investments 10,335.20 10,813.40 8,966.50 6,895.30

Inventories 785.10 724.90 606.90 459.60

Sundry Debtors 7,967.00 5,781.30 5,016.40 4,446.40

Cash and Bank Balance 3,435.70 2,334.20 1,938.30 1,902.10

Total Current Assets 12,187.80 8,840.40 7,561.60 6,808.10

Loans and Advances 8,135.90 6,756.80 5,425.90 4,202.00

Fixed Deposits 2,797.10 2,869.10 3,726.00 2,507.10

Total CA, Loans & Advances 23,120.80 18,466.30 16,713.50 13,517.20


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Analysis:-

1. Share capital of the company has increased to 491.70. It means company has issuedshares during the year.

2. Companies reserve has been increased from 20,829.40 to 23,860.80 during the yeardue to amalgamation.

3. There is an increase in Long Term borrowings which means company has borrowedloans during the year.

4. Due to amalgamation companies assets have been increased.

5. Earnings per share has been increased by Rs.1.31.

Differed Credit 0.00 0.00 0.00 0.00

Current Liabilities 5,984.20 5,290.00 4,874.20 5,564.30

Provisions 3,016.00 2,764.80 2,230.80 1,810.70

Total CL & Provisions 9,000.20 8,054.80 7,105.00 7,375.00

Net Current Assets 14,120.60 10,411.50 9,608.50 6,142.20

Miscellaneous Expenses 0.00 0.00 0.00 0.00

Total Assets 29,595.70 26,065.00 23,222.40 17,528.90

Contingent Liabilities 921.90 707.30 778.00 1,045.40

Book Value (Rs) 99.04 86.86 120.49 85.42


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PROFIT & LOSS A/C:-

Particulars For the year ended March 31,

2012 %

REVENUE

Revenue from operations (gross) 318,034 100

Less: Excise duty 1,205 0.38

Revenue from operations (net) 316,829 99.62

Other Income 12,274 3.86

Total Revenue 329,103 103.48

EXPENSES

Cost of materials consumed 14,475 4.55

Purchases of stock-in-trade 32,086 10.09

Changes in inventories of finished goods, work in

progress and stock-in-trade

449 0.14

Employee benefits expense 133,115 41.87

Finance Costs 6,057 1.90

Depreciation expense 7,395 2.33

Amortization expense 66 0.02

Other expenses 76,274 23.98

Total Expenses 269,917 84.87

Profit before tax 59,186 18.61

Tax expense

Current tax 12,495 3.93

Deferred tax (160) 0.05

12,335 3.88

Net Profit 46,851 14.73


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Common Size Balance sheet:-


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COMMOM SIZE BALANCE SHEET AS ON 31ST

MARCH 2012 ANALYSIS (Rs in Cr)

Particulars As of March 31,

2012 %

EQUITY AND LIABILITIES

Shareholders funds

Share capital 4,917 1.27%

Reserves and surplus 238,608 61.82%

243,525 63.10%

Share application money pending allotment (1)

Non-current liabilities

Long term borrowings 22,022 5.71%

Deferred tax liabilities 58 0.02%

Other long term liabilities 355 0.09%

Long term Provisions 2,593 0.67%

25,028 6.48%

Current Liabilities

Short term borrowings 30,410 7.88%

Trade payables 38,922 10.08%

Other current liabilities 20,507 5.31%

Short term provisions 27,567 7.14%

117,406 30.42%

TOTAL EQUITY AND LIABILITIES 385,959 100%

ASSETS

Non-current assets

Fixed assets

Tangible assets 41,961 10.87%


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TREND ANALYSIS:- (Rs. in Cr.)

Intangible assets and goodwill 4,537 1.18%

Capital work-in-progress 3,012 0.78%

Non-current investments 62,943 16.31%

Deferred tax assets 326 0.08%

Long term loans and advances 9,404 2.44%

Other non-current assets 9,194 2.38%

131,377 34.04%

Current assets

Current investments 40,409 10.47%

Inventories 7,851 2.03%

Trade receivables 79,670 20.64%

Cash and bank balances 62,328 16.15%

Short term loans and advances 33,211 8.60%

Other current assets 31,113 8.06%

254,582 65.96%

TOTAL ASSESTS 385,959 100%


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Particular Mar12 Mar 11 Mar 10 2010% 2011% 2012%

12 months 12 months 12 months

Sources of funds

Total Share Capital 491.70 490.80 293.60 100 167.17 167.47

Equity Share Capital 491.70 490.80 293.60 100 167.17 167.47

Share Application Money 0.00 0.70 1.80 100 0.007 0

Preference Share Capital 0.00 0.00 0.00 0 0 0

Reserves 23,860.80 20,829.40 17,396.80 100 119.73 137.16

Revaluation Reserves 0.00 0.00 0.00 0 0 0

Net worth 24,352.50 21,320.90 17,692.20 100 120.51 137.64

Secured Loans 1.00 0.00 0.00 100 0 0

Unsecured Loans 5,242.20 4,744.10 5,530.20 100 85.79 94.79

Total Debt 5,243.20 4,744.10 5,530.20 100 85.79 94.790

Total Liabilities 29,595.70 26,065.00 23,222.40 100 112.24 127.44

Application of funds

Gross Block 8,807.80 7,779.30 6,761.30 100 115.06 130.27

Less: Accum. Depreciation 4,158.00 3,542.30 3,105.00 100 114.08 133.91

Net Block 4,649.80 4,237.00 3,656.30 100 115.88 127.17

Capital Work in Progress 490.10 603.10 991.10 100 60.85 49.45

Investments 10,335.20 10,813.40 8,966.50 100 122.60 115.26

Inventories 785.10 724.90 606.90 100 119.44 129.36

Sundry Debtors 7,967.00 5,781.30 5,016.40 100 115.25 158.82

Cash and Bank Balance 3,435.70 2,334.20 1,938.30 100 120.42 177.25

Total Current Assets 12,187.80 8,840.40 7,561.60 100 116.91 161.18

Loans and Advances 8,135.90 6,756.80 5,425.90 100 124.52 149.94

Fixed Deposits 2,797.10 2,869.10 3,726.00 100 77 75.07

Total CA, Loans & Advances 23,120.80 18,466.30 16,713.50 100 110.49 138.34

Deferred Credit 0.00 0.00 0.00 100 0 0

Current Liabilities 5,984.20 5,290.00 4,874.20 100 108.53 122.77

Provisions 3,016.00 2,764.80 2,230.80 100 123.94 135.20

Total CL & Provisions 9,000.20 8,054.80 7,105.00 100 113.36 126.67


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Net Current Assets 14,120.60 10,411.50 9,608.50 100 108.36 146.96

Miscellaneous Expenses 0.00 0.00 0.00 100 0 0

Total Assets 29,595.70 26,065.00 23,222.40 100 112.24 127.44

COMMENTS:-

1. Wipro Company has been showing increasing trend through last 3FY.

2.

There is an increase in the Share Capital of the company from 167.16% to 167.47%during the year.

3. There is a constant increase in the reserves and surplus of the company from 119.73%to 137.16% during the year.

4. There is an decreasing trend in capital work in progress from 60.85% in 2011 to49.45% in2012.

5. There is an tremendous increase in current asset of the company from 116.91% to161.18%.

RATIO ANALYSIS:-


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1) Current Ratio = Current Assets = 3.86:1Current Liabilities

This Ratio indicates the proportion of current asset with current liabilities. In the given case

current ratio is 3.86:1 which indicates for every Re.1 of current liability company has current

asset of 3.86, this ratio helps to determine the short term solvency position of the business.

2) Quick Ratio = Quick AssetsQuick Liabilities

=Current assets-(stock + prepaid) = 1.35:1

Current liability-(bank o/d + advance income)

This ratio indicates the proportion of quick asset with quick liabilities. It helps to determine

the immediate solvency position of the business .In given case Quick ratio is 1.35:1 of

quick liability company has quick assets of 1.35 , which indicates a better liquidity position.

3) Proprietors Ratio = Proprietors Fund = 0.82 :1Total Asset / Liabilities

This ratio indicates the contribution of share holders fund in total assets of the business. It

helps to determine the long term solvency position of the business. In the given case

proprietors contribution is approx.0.82 of total assets which means for every Re.1 of asset

approx.0.82paise is contributed by proprietors.


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4) Debt Equity Ratio = Debt = 10.66 : 1Equity

This ratio indicates the proportion of debt finance against equity finance. In this

case given ratio is 10.66:1 which means for every Re.1 of contribution from proprietor

company long term debt is 10.66 which represents company.

5) Return on capital employed = Net profit before interest and tax = 20%Capital employed

This ratio indicates the net proportion of operating profit earned from capital employed in

business. In the given case ratio is 20%, which shows that company should use more funds as

it would be beneficial for shareholders.

6) Operating Profit Ratio = Operating profit = 19.63Net Sales

This ratio indicates the operating profit earning capacity of the company in relation to net

sales. In the given cases ratio is 19.63

COMPETITORS OF WIPRO

Name Last Price Market Cap.

(Rs. cr.)

Sales

Turnover

Net Profit Total Assets

TCS 1,362.00 266,573.50 38,858.54 10,975.98 24,952.86

Infosys 2,563.00 147,175.44 31,254.00 8,470.00 29,757.00

Wipro 381.65 93,969.78 32,053.60 4,685.10 29,595.70

HCL Tech 570.00 39,536.34 8,907.22 1,950.42 6,889.31

Oracle Finance 2,967.00 24,921.06 2,605.85 1,089.23 6,247.04

Mahindra Satyam 102.90 12,109.66 5,964.21 1,202.80 4,567.90
http://www.moneycontrol.com/india/stockpricequote/computerssoftware/tataconsultancyservices/TCShttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/infosys/IThttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/wipro/Whttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/hcltechnologies/HCL02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hcltechnologies/HCL02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/oraclefinancialservicessoftware/OFS01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/oraclefinancialservicessoftware/OFS01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/mahindrasatyam/SCShttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/mahindrasatyam/SCShttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/oraclefinancialservicessoftware/OFS01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hcltechnologies/HCL02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/wipro/Whttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/infosys/IThttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/tataconsultancyservices/TCS


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ACCOUNTING POLICY :-

Significant Accounting Policies

i. Basis of preparation of financial statements

The financial statements are prepared in accordance with Indian Generally Accepted

Accounting Principles (GAAP) under the historical cost convention on the accrual basis,

except for certain financial instruments which are measured on a fair value basis. GAAP

comprises Accounting Standards specified in the Companies (Accounting Standards) Rules,

2006 (as amended), Accounting Standards issued by the Institute of Chartered Accountants ofIndia (ICAI) and other generally accepted accounting principles in India.

Tech Mahindra 898.45 11,467.74 5,243.02 460.55 4,569.80

MphasiS 386.45 8,120.81 3,404.13 782.01 3,651.60

Patni Computer 515.80 7,657.37 2,202.43 499.78 3,382.03

Financial Tech 907.00 4,179.32 425.55 478.03 3,017.56

Hexaware Tech 128.60 3,810.94 678.58 231.98 858.55

Mind Tree 710.00 2,912.99 1,915.20 218.70 1,002.00

InfoTech Enter 192.80 2,149.03 863.80 158.60 1,034.94

NIIT Tech 299.35 1,796.99 827.46 113.12 641.85

Persistent 420.00 1,680.00 810.36 137.39 838.39

Polaris Tech 133.75 1,597.92 1,749.91 183.41 917.11

Zensar Tech 281.50 1,224.42 712.75 94.55 420.16

Rolta 72.45 1,168.83 1,468.07 327.34 3,686.97

Hinduja Venture 375.50 771.86 90.09 65.03 674.68

Tata Elxsi 228.00 709.95 514.85 33.95 223.23

Geometric 108.75 682.66 269.73 41.20 207.46

Hinduja Global 305.00 627.97 631.35 62.62 784.08
http://www.moneycontrol.com/india/stockpricequote/computerssoftware/techmahindra/TM4http://www.moneycontrol.com/india/stockpricequote/computerssoftware/mphasis/MB02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/mphasis/MB02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/patnicomputersystems/PCS02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/financialtechnologies/FT02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hexawaretechnologies/HT02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/mindtree/MT13http://www.moneycontrol.com/india/stockpricequote/computerssoftware/infotechenterprises/IE07http://www.moneycontrol.com/india/stockpricequote/computerssoftware/niittechnologies/NII02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/persistentsystems/PS15http://www.moneycontrol.com/india/stockpricequote/computerssoftware/polarisfinancialtechnology/PSL01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/zensartechnologies/ZT02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/roltaindia/RI15http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hindujaventures/HVhttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/hindujaventures/HVhttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/tataelxsi/TEhttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/geometric/G03http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hindujaglobalsolutions/HGS01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hindujaglobalsolutions/HGS01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/geometric/G03http://www.moneycontrol.com/india/stockpricequote/computerssoftware/tataelxsi/TEhttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/hindujaventures/HVhttp://www.moneycontrol.com/india/stockpricequote/computerssoftware/roltaindia/RI15http://www.moneycontrol.com/india/stockpricequote/computerssoftware/zensartechnologies/ZT02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/polarisfinancialtechnology/PSL01http://www.moneycontrol.com/india/stockpricequote/computerssoftware/persistentsystems/PS15http://www.moneycontrol.com/india/stockpricequote/computerssoftware/niittechnologies/NII02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/infotechenterprises/IE07http://www.moneycontrol.com/india/stockpricequote/computerssoftware/mindtree/MT13http://www.moneycontrol.com/india/stockpricequote/computerssoftware/hexawaretechnologies/HT02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/financialtechnologies/FT02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/patnicomputersystems/PCS02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/mphasis/MB02http://www.moneycontrol.com/india/stockpricequote/computerssoftware/techmahindra/TM4


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ii. Use of estimates

The preparation of financial statements in accordance with the generally accepted accounting

principles requires management to make judgments, estimates and assumptions that affect theapplication of accounting policies and the reported amounts of assets and liabilities, income,

expenses and the disclosure of contingent liabilities at the end of the reporting period.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revision to

accounting estimate is recognized in the period in which the estimates are revised and in any

future period affected.

iii. Goodwill

The goodwill arising on acquisition of a group of assets is not amortized and is tested for

impairment if indicators of impairment exist.

iv. Tangible assets, intangible assets and Capital work-in-progress

Fixed assets are stated at historical cost less accumulated depreciation. Costs include

expenditure directly attributable to the acquisition of the asset. Borrowing costs directly

attributable to the construction or production of qualifying assets are capitalized as part of the

cost.

Intangible assets are stated at the consideration paid for acquisition less accumulated

amortization.

Cost of fixed assets not ready for use before the balance sheet date is disclosed capital work-

in-progress. Advances paid towards the acquisition of fixed assets outstanding as of each

balance sheet date is disclosed under long term loans and advances.

v. Investments

Long term investments are stated at cost less other than temporary decline in the value of

such investments, if any. Current investments are valued at lower of cost and fair value

determined by category of investment. The fair value is determined using quoted market

price/market observable information adjusted for cost of disposal. On disposal of the


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investment, the difference between its carrying amount and net disposal proceeds is charged

or credited to the statement of profit and loss.

vi. Inventories

Inventories are valued at lower of cost and net realizable value, including necessary provision

for obsolescence. Cost is determined using the weighted average method. Cost of work-in-

progress and finished goods include material cost and appropriate share of manufacturing

overheads.

vii. Provisions and contingent liabilities

Provisions are recognized when the Company has a present obligation as a result of past

event, it is probable that an outflow of resources will be required to settle the obligation, and

a reliable estimate can be made of the amount of obligation.

A disclosure for a contingent liability is made when there is a possible obligation or a present

obligation that may, but probably will not, require an outflow of resources. Where there is a

possible obligation or a present obligation in respect of which the likelihood of outflow of

resources is remote, no provision or disclosure is made.

CONCLUSION :-

Wipro reiterated its position among the IT majors by delivering financial growth higher

than Infosys, but lower than that of HCL Technologies (HCL) and TCS.

Information Technology (IT) sector has been one of the biggest growth drivers for the

Indian economy, especially for the exports. As a proportion of India's Gross Domestic

Product (GDP), the sector revenues have grown from 1.2% in FY98 to 6.4% in FY11.

The sector has witnessed a spectacular growth in the last decade. The size of the India's

information technology and outsourcing industries is expected to cross US$ 100 by

FY12. And the sector continues to present a good opportunity in the future as well.


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Naturally, companies in this sector have been on the investors' radar all the time. In fact,

Indian IT majors such as Infosys, Tata Consultancy Services (TCS) and Wipro have

become household names in the country. After all, they are among the biggest recruiters

in India. All these companies are doing the same business. And it seems all they are

same at the first glance. However, scratching the surface tells the different story. In the

next few articles, we are going to compare Infosys and Wipro , the second and third

largest companies in the Indian software sector. At the onset, we would like to clarify

two important points. First, the focus of these articles is to is to provide information so

that the investors can decide for themselves as to which is a better company. Second,

Wipro has diversified business interests, which include IT services (Including BPO

business), IT products (hardware such as desktop computers, servers and notebooks),

consumer care and lighting and Infrastructure engineering. On the other hand, Infosys is

purely an IT services company. Therefore, for the sake of apple-to-apple comparison we

would be referring only to Wipro's IT services business which contributes around 75%

of the company's total revenues.

BIBILOGRAPHY :-

www.google.com

www.wipro.com

www.topstockresearch.com

www.wikipedia.com
http://www.equitymaster.com/result.asp?symbol=wprohttp://www.google.com/http://www.wipro.com/http://www.topstockresearch.com/http://www.wikipedia.com/http://www.wikipedia.com/http://www.wikipedia.com/http://www.topstockresearch.com/http://www.wipro.com/http://www.google.com/http://www.equitymaster.com/result.asp?symbol=wpro


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