Wipro Limited (WIPRO) AI Stock Analysis

• Market Cap: ₹2.48T
• Dividend Yield: 4.05%
• Average Volume (3M): 365.04K
• Price to Earnings (P/E): 18.9
• Beta (1Y): 1.03
• Revenue Growth: 1.10%
• EPS Growth: 14.83%
• Country: IN
• Employees: 234,000
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 3.21
• Shares Outstanding: 10,487,198,000
• 10 Day Avg. Volume: 437,337
• 30 Day Avg. Volume: 365,039
• PEG Ratio: 1.04
• Price to Book (P/B): 3.32
• Price to Sales (P/S): 3.08
• P/FCF Ratio: 17.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹264.00
• Price Target Upside: 11.53% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ₹256.00 ▲(8.15% Upside)

The score is supported primarily by solid financial quality (strong margins, conservative leverage, and healthy cash generation) and a shareholder-friendly valuation profile (high dividend yield, reasonable P/E). It is held back by weak technicals (below major moving averages with negative MACD) and a cautious near-term outlook from the earnings call (modest guidance and acquisition-related margin dilution), despite good margin discipline and cash strength.

Positive Factors

Sustained margin profile

Wipro's durable high operating and net margins indicate structural cost advantages from its offshore delivery model and disciplined pricing. Strong margin bands support reinvestment in capabilities, buffer cyclical revenue softness, and underpin consistent cash earnings over the medium term.

Conservative balance sheet

Low leverage provides long-term financial flexibility to fund strategic initiatives, acquisitions, and shareholder returns without stressing liquidity. Stable equity and manageable debt levels reduce refinancing risk and support capital allocation through cycles over the next several quarters.

Strong cash generation & returns

High cash conversion and a large cash/investment pool drive durable financial stability and enable sustained dividend payouts, buybacks or bolt-on M&A. This cash strength supports strategic investments (AI, labs) while cushioning near-term revenue variability across quarters.

Negative Factors

Muted organic revenue growth

Persistent flat to slightly negative organic revenue trends suggest structural demand or competitive pressures in key segments. Limited top-line expansion constrains leverage of fixed-cost base, caps long-term operating leverage benefits, and makes earnings growth more reliant on margin initiatives or acquisitions.

Acquisition-related dilution & amortization

The HARMAN DTS deal brings capability but creates near-term margin drag via integration costs and higher amortization. Such acquisition-related charges can depress reported profitability and cash conversion for multiple quarters, adding execution risk and diverting management focus from organic growth.

Deal ramp delays and regional/sector pockets

Lumpy large-deal timing, delayed ramps and region/sector weakness reduce revenue visibility and can underutilize delivery capacity. Over several quarters this increases volatility in growth and may necessitate pricing or cost actions, limiting sustained top-line recovery without consistent deal execution.

Wipro Limited Business Overview & Revenue Model

Company Description

Wipro Limited operates as information technology (IT), consulting, and business process services company worldwide. It operates through three segments: IT Services, IT Products, and India State Run Enterprise Services (ISRE). The IT Services segment offers IT and IT-enabled services, including digital strategy advisory, customer-centric design, technology and IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure, business process, cloud, mobility and analytics, research and development, and hardware and software design services to enterprises. It serves customers in various industry sectors, such as healthcare and medical devices, consumer goods and life sciences, retail, transportation and services, communications, media and information services, technology products and platforms, banking, financial services and insurance, manufacturing, hi-tech, energy, and utilities. The IT Products segment provides a range of third-party IT products comprising enterprise platforms, networking solutions, software and data storage products, contact center infrastructure, enterprise security, IT optimization technologies, video solutions, and end-user computing solutions. It serves enterprises in various industries primarily in the India market, which comprise the government, defense, IT and IT-enabled services, telecommunications, manufacturing, utilities, education, and financial services sectors. The ISRE segment offers IT services to entities and departments owned or controlled by the Government of India and/or various Indian State Governments. The company was incorporated in 1945 and is based in Bengaluru, India.

How the Company Makes Money

Wipro generates revenue primarily through its IT services and consulting offerings. The company operates on a project-based revenue model, where it charges clients for services rendered, such as software development, system integration, and IT infrastructure management. Key revenue streams include managed services, application development and maintenance, and digital transformation projects. Additionally, Wipro has established strategic partnerships with major technology providers, including Microsoft, AWS, and SAP, which enhance its service offerings and market reach. The company also benefits from long-term contracts with clients, providing a stable revenue base, while its focus on emerging technologies and industry-specific solutions helps drive growth in new markets.

Wipro Limited Financial Statement Overview

Summary

Strong profitability (TTM net margin ~14.6%) and conservative leverage (debt-to-equity ~0.23) support a solid base, with net income improving versus FY2024. The main constraint is muted growth: revenue has been flat to slightly down historically and only modestly up in TTM, alongside slightly negative recent free-cash-flow growth.

Income Statement

Profitability is solid in TTM (Trailing-Twelve-Months), with healthy gross profit (~29.6%) and strong operating profitability (EBIT ~20.4%; EBITDA ~23.2%) translating into a good net margin (~14.6%). Net income has improved versus FY2024 (₹132.7B TTM vs ₹110.5B FY2024), indicating better earnings resilience despite a soft top-line. The key weakness is growth: revenue is essentially flat to slightly down over the last few annual periods and only modestly up in TTM (about +1.4%), suggesting limited near-term expansion and potential pricing/demand pressure.

Balance Sheet

The balance sheet looks conservatively positioned for an IT services company, with low leverage (debt-to-equity ~0.23 in TTM and ~0.22–0.27 historically) and a sizable equity base (₹868.3B in TTM). Returns on equity are steady and respectable (about 15–16% in TTM/ FY2025), indicating decent efficiency without relying on heavy debt. The main watch-out is that debt has trended up from earlier years (₹104.5B FY2021 to ~₹198.0B TTM), even though it remains manageable versus equity.

Cash Flow

Cash generation is generally strong, with free cash flow close to net income in TTM (free cash flow to net income ~0.90) and similarly high in recent years, supporting earnings quality. Absolute free cash flow remains healthy (₹141.6B TTM), but momentum is a concern: free cash flow growth is negative in TTM (about -3.0%) and slightly negative in FY2025. Another weakness is that operating cash flow as a share of total revenue is moderate (about 41.8% in TTM and ~59.2% in FY2025), implying some variability in cash conversion versus reported profitability.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	890.88B	897.60B	904.88B	790.93B	619.43B
Gross Profit	273.08B	266.11B	259.43B	235.06B	196.22B
EBITDA	218.15B	192.37B	189.38B	187.45B	168.41B
Net Income	131.35B	110.45B	113.50B	122.19B	107.95B
Balance Sheet
Total Assets	1.28T	1.15T	1.18T	1.08T	831.43B
Cash, Cash Equivalents and Short-Term Investments	533.45B	408.12B	401.87B	351.28B	346.12B
Total Debt	192.03B	164.65B	174.67B	175.93B	104.51B
Total Liabilities	456.07B	401.24B	394.07B	420.51B	276.84B
Stockholders Equity	828.31B	749.88B	781.16B	658.16B	553.10B
Cash Flow
Free Cash Flow	154.39B	165.71B	115.77B	90.64B	127.97B
Operating Cash Flow	169.43B	176.22B	130.60B	110.80B	147.55B
Investing Cash Flow	-80.73B	11.68B	-84.06B	-224.50B	7.74B
Financing Cash Flow	-63.96B	-182.57B	-60.88B	46.59B	-128.84B

Wipro Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 236.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WIPRO, the sentiment is Negative. The current price of 236.7 is below the 20-day moving average (MA) of 253.05, below the 50-day MA of 256.17, and below the 200-day MA of 249.68, indicating a bearish trend. The MACD of -6.53 indicates Positive momentum. The RSI at 34.21 is Neutral, neither overbought nor oversold. The STOCH value of 19.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WIPRO.

Wipro Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COFORGE	73 Outperform	₹553.66B	46.59	―	0.88%	41.97%	38.73%
HCLTECH	73 Outperform	₹4.60T	28.32	―	2.86%	7.52%	0.87%
PERSISTENT	69 Neutral	₹951.83B	54.53	―	0.55%	23.27%	33.09%
WIPRO	68 Neutral	₹2.48T	18.92	―	4.05%	1.10%	14.83%
LTIM	66 Neutral	₹1.77T	37.34	―	1.08%	8.72%	4.54%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TECHM	55 Neutral	₹1.71T	33.84	―	2.76%	3.30%	36.78%

Wipro Limited Corporate Events

Wipro Publishes Statutory Financial Advertisements Under SEBI Disclosure Norms

Wipro Limited notified the Indian stock exchanges that it has published newspaper advertisements, in compliance with Regulation 47 of SEBI’s Listing Obligations and Disclosure Requirements Regulations, 2015. The company stated that these advertisements, which include extracts of its financial results and related disclosures, have been carried in Financial Express and Kannada Prabha and are also available on its corporate website, reinforcing its regulatory compliance and transparency in financial reporting for investors and other stakeholders.

Wipro Files Unqualified Auditor’s Report on Q3 FY26 Standalone Results

Wipro Limited has submitted to stock exchanges the independent auditor’s reports, bearing a Unique Document Identification Number, on its standalone financial results for the quarter and nine months ended 31 December 2025, complementing the previously filed financial statements and making the reports available on its website. The auditors, Deloitte Haskins & Sells LLP, issued an unqualified opinion stating that Wipro’s standalone financial results comply with Indian Accounting Standard 34 and SEBI’s listing regulations, and present a true and fair view of the company’s net profit, other comprehensive income, and related financial information for the period, reinforcing the credibility and regulatory compliance of Wipro’s reported financial performance.

Wipro Allots 74,568 Equity Shares Under Employee Stock Plans

Wipro Limited has allotted a total of 74,568 equity shares following the exercise of employee stock options, comprising 33,332 shares under its ADS Restricted Stock Unit Plan 2004 and 41,236 shares under its Restricted Stock Unit Plan 2007, with the allotment dated January 7, 2026. The issuance modestly increases the company’s equity base and reflects the ongoing use of stock-based compensation to align employee interests with shareholder value and support talent retention in the competitive IT services industry.

Wipro Allots 94,813 Equity Shares on ESOP Exercise

Wipro Limited has allotted a total of 94,813 equity shares following the exercise of employee stock options, issuing 21,126 shares under its ADS Restricted Stock Unit Plan 2004 and 73,687 shares under its Restricted Stock Unit Plan 2007 on December 22, 2025. The allotment reflects the ongoing implementation of Wipro’s long-term employee incentive programs, marginally increasing its equity base while reinforcing stock-based compensation as a tool for talent retention and alignment of employee interests with shareholder value.

Wipro Grants Restricted Stock Units to Employees

Wipro Limited has announced the grant of 69,597 ADS Restricted Stock Units to its identified employees under the company’s Employee Stock Options, Performance Stock Unit, and Restricted Stock Unit Scheme 2024. This move, effective from December 3, 2025, is part of Wipro’s strategy to incentivize and retain talent, potentially enhancing employee engagement and aligning their interests with company performance.

Wipro Completes Acquisition of Harman Connected Services

Wipro Limited has completed its acquisition of Harman Connected Services Inc. and its subsidiaries, as well as certain other assets from Harman International Industries, Inc., effective December 1, 2025. This strategic acquisition is expected to enhance Wipro’s capabilities in connected services, potentially strengthening its market position and offering expanded services to its stakeholders.

Wipro Completes Merger to Streamline Operations

Wipro Limited has announced the completion of the merger between its wholly-owned subsidiary, Wipro Digital Inc., and its step-down subsidiary, Harman Connected Services, Inc., effective from December 1, 2025. This strategic move aims to rationalize and consolidate Wipro’s group structure, potentially enhancing its operational efficiency and market positioning in the IT and engineering services sectors.

Wipro Completes Acquisition of HARMAN’s DTS Business Unit

Wipro Limited has completed the acquisition of HARMAN’s Digital Transformation Solutions (DTS) business unit, integrating it into Wipro’s Engineering Global Business Line. This acquisition enhances Wipro’s AI capabilities and engineering innovation, allowing it to deliver differentiated next-generation experiences and strengthen its position as a global leader in engineering services. The integration of DTS’s expertise in embodied AI, embedded software, and customer experience platforms with Wipro’s consulting-led, AI-powered approach will enable the company to innovate at scale and support complex transformations across various sectors.

Wipro Partners with IISc to Drive Innovation in Frontier Technologies

Wipro Limited has announced a strategic alliance with the Indian Institute of Science (IISc) and the Foundation for Science Innovation and Development (FSID) to advance research and innovation in frontier technologies. This collaboration aims to accelerate breakthroughs in areas like agentic AI, embodied AI, and quantum AI, enhancing Wipro’s ability to deliver next-generation AI-powered capabilities. The partnership will help Wipro develop industry-ready platforms and new intellectual property, while IISc benefits from expanded research capacity and industry validation.

Wipro Grants Over 39,000 Restricted Stock Units to Employees

Wipro Limited has announced the grant of a total of 39,415 Restricted Stock Units to its employees and those of its subsidiary as part of its Employee Stock Options, Performance Stock Unit, and Restricted Stock Unit Scheme 2024. This move, effective from November 12, 2025, reflects Wipro’s commitment to rewarding and retaining talent, potentially enhancing employee motivation and aligning their interests with the company’s long-term goals.

Wipro Limited Announces Restructuring with Sale of Drivestream India Stake

Wipro Limited has announced a restructuring plan involving the sale of its entire holding in Drivestream India Private Limited to Drivestream Inc., an associate company. The transaction, which is a related party transaction conducted at arm’s length, is expected to be completed by December 31, 2025, and involves the transfer of equity and optionally convertible preference shares, totaling 3,50,776 equity shares after conversion.

Wipro Celebrates 25 Years on NYSE with Closing Bell Ceremony

Wipro Limited announced its invitation to ring The Closing Bell at the New York Stock Exchange (NYSE) on October 31, 2025, marking its 25th anniversary on the NYSE and the launch of its Wipro Intelligence suite of AI-powered platforms. This event signifies Wipro’s journey of growth and innovation, highlighting its commitment to co-innovating with clients and empowering them to leverage intelligent technologies. The Wipro Intelligence suite underscores the company’s dedication to driving transformation and building AI-powered enterprises.

Wipro Allots Equity Shares Under Stock Unit Plans

Wipro Limited announced the allotment of 34,790 equity shares under its ADS Restricted Stock Unit Plan 2004 and 7,366 equity shares under the Restricted Stock Unit Plan 2007, following the exercise of employee stock options. This move reflects Wipro’s ongoing commitment to employee engagement and retention through equity-based incentives, potentially enhancing its competitive positioning in the technology sector.

Wipro Grants Restricted Stock Units to Subsidiary Employees

Wipro Limited has announced the grant of 46,817 ADS Restricted Stock Units to employees of its subsidiary under the company’s 2024 Employee Stock Options, Performance Stock Unit, and Restricted Stock Unit Scheme. This move, effective from October 28, 2025, reflects Wipro’s commitment to rewarding and retaining talent, potentially enhancing employee motivation and aligning their interests with the company’s growth objectives.