Wipro Limited (IN:WIPRO)
:WIPRO
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Wipro Limited
(WIPRO)
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Rating:68Neutral
Price Target:
₹212.00
▼(-8.48% Downside)
Action:UpgradedDate:01/28/26
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
Margin Sustainability
Wipro's trailing margins (gross ~29.6%, EBIT ~20.4%, net ~14.6%) and recent 17.6% operating margin reflect durable operating discipline from offshore scale and managed services. Sustained mid-teens margins support recurring cash generation and investment capacity despite modest revenue growth.
Negative Factors
Muted Revenue Growth
Wipro's top-line shows limited expansion, with TTM revenue only modestly positive and organic YoY softness reported. Persistent weak organic growth constrains operating leverage, limits upside to earnings from scale and reduces the company’s ability to grow margins via volume-driven cost absorption.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Sustainability
Wipro's trailing margins (gross ~29.6%, EBIT ~20.4%, net ~14.6%) and recent 17.6% operating margin reflect durable operating discipline from offshore scale and managed services. Sustained mid-teens margins support recurring cash generation and investment capacity despite modest revenue growth.
Read all positive factors
Wipro Limited (WIPRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.04T
Dividend Yield4.05%
Average Volume (3M)365.04K
Price to Earnings (P/E)22.1
Beta (1Y)0.92
Revenue Growth1.10%
EPS Growth14.83%
CountryIN
Employees234,000
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)3.21
Shares Outstanding10,488,412,000
10 Day Avg. Volume437,337
30 Day Avg. Volume365,039
Financial Highlights & Ratios
PEG Ratio1.04
Price to Book (P/B)3.32
Price to Sales (P/S)3.08
P/FCF Ratio17.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹233.75Price Target Upside0.91% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering4
EPS Forecast (FY)13.49
Revenue Forecast (FY)₹994.33B
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 segme...
How the Company Makes Money
Wipro primarily makes money by delivering technology and business services to enterprises under commercial contracts that generate service revenue. Its core revenue streams are (1) time-and-materials and managed services engagements, where clients...
Wipro Limited Earnings Call Summary
Earnings Call Date:Jan 16, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Apr 16, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: strong margin performance, healthy cash generation, completed strategic acquisition (HARMAN DTS) and concrete AI-led offerings and client wins provide positive momentum. However, revenue growth was modest to negative on a YoY organic basis, several verticals and regions showed notable declines (EMR, Consumer, Americas 2), and management provided cautious near-term guidance due to fewer working days and delayed deal ramp-ups. One-off charges and incremental amortization/impact from the acquisition temper near-term earnings. Overall the positives (margins, cash, strategic progress, AI positioning) are offset by headline revenue softness and near-term headwinds.Positive Updates
Sequential Revenue Growth (IT Services)
IT Services revenue of $2.64B grew 1.4% sequentially in constant currency (1.2% reported). Excluding HARMAN DTS, organic sequential growth was 0.6% CC.
Negative Updates
Year-on-Year Revenue Contraction (Constant Currency)
IT Services revenue declined 1.2% year-on-year in constant currency (reported growth 0.2% YoY). HARMAN DTS contributed ~0.8% of the CC growth, masking some organic weakness.
Read all updates
Q3-2026 Updates
Positive
Negative
Sequential Revenue Growth (IT Services)
IT Services revenue of $2.64B grew 1.4% sequentially in constant currency (1.2% reported). Excluding HARMAN DTS, organic sequential growth was 0.6% CC.
Read all positive updates
Company Guidance
Guidance for Q4: Wipro expects IT Services revenue of $2.635–$2.688 billion (0%–2% sequential growth in constant currency), which explicitly includes two months of HARMAN DTS revenue and is modestly constrained by fewer working days and some delayed large-deal ramp-ups; HARMAN contributed ~0.8% CC to Q3 revenue and will cause incremental margin dilution. For context, Q3 IT Services revenue was $2.64 billion, operating margin was 17.6% (‑/+40 bps QoQ adjusted / +10 bps YoY), adjusted net income was INR 33.6 billion and adjusted EPS was INR 3.21 (+3.5% QoQ, flat YoY); Q3 large-deal bookings were $871 million with total contract value closed of $3.3 billion. Management’s aim is to keep margins in a similar ~17.0%–17.5% band despite HARMAN dilution, while cash/investment reserves stand at ~$6.5 billion (operating cash flow was 135% of net income in Q3); other Q3 metrics include an effective tax rate of 23.9% and an accounting yield on India investments of 7.2%.Wipro Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 908.92B | 890.88B | 897.60B | 904.88B | 790.93B | 619.43B |
| Gross Profit | 269.12B | 273.08B | 266.11B | 259.43B | 235.06B | 196.22B |
| EBITDA | 206.68B | 212.63B | 187.84B | 187.07B | 187.51B | 168.54B |
| Net Income | 132.65B | 131.35B | 110.45B | 113.50B | 122.19B | 107.95B |
Balance Sheet | ||||||
| Total Assets | 1.41T | 1.28T | 1.15T | 1.18T | 1.08T | 831.43B |
| Cash, Cash Equivalents and Short-Term Investments | 573.95B | 533.45B | 408.12B | 401.87B | 351.28B | 346.12B |
| Total Debt | 224.48B | 192.03B | 164.65B | 174.67B | 175.93B | 104.51B |
| Total Liabilities | 512.90B | 456.07B | 401.24B | 394.07B | 420.51B | 276.84B |
| Stockholders Equity | 868.34B | 828.31B | 749.88B | 781.16B | 658.16B | 553.10B |
Cash Flow | ||||||
| Free Cash Flow | 141.56B | 154.39B | 165.71B | 115.77B | 90.64B | 127.97B |
| Operating Cash Flow | 159.22B | 169.43B | 176.22B | 130.60B | 110.80B | 147.55B |
| Investing Cash Flow | -28.20B | -80.73B | 11.68B | -84.06B | -224.50B | 7.74B |
| Financing Cash Flow | -143.47B | -63.96B | -182.57B | -60.88B | 46.59B | -128.84B |
Wipro Limited Technical Analysis
Negative
231.65
Price Trends
212.19
Negative
234.28
Negative
242.24
Negative
Market Momentum
-6.16
Negative
44.21
Neutral
47.61
Neutral
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 231.65 is above the 20-day moving average (MA) of 193.94, above the 50-day MA of 212.19, and below the 200-day MA of 242.24, indicating a neutral trend. The MACD of -6.16 indicates Negative momentum. The RSI at 44.21 is Neutral, neither overbought nor oversold. The STOCH value of 47.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WIPRO.
Wipro Limited Risk Analysis
Wipro Limited disclosed 60 risk factors in its most recent earnings report. Wipro Limited reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wipro Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹3.80T | 26.95 | ― | 2.86% | 7.52% | 0.87% | |
69 Neutral | ₹824.77B | 55.70 | ― | 0.55% | 23.27% | 33.09% | |
68 Neutral | ₹2.04T | 22.11 | ― | 4.05% | 1.10% | 14.83% | |
63 Neutral | ₹407.51B | 55.81 | ― | 0.88% | 41.97% | 38.73% | |
62 Neutral | ₹1.28T | 46.27 | ― | 1.08% | 8.72% | 4.54% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | ₹1.41T | 31.42 | ― | 2.76% | 3.30% | 36.78% |
* Technology Sector Average
IN:WIPRO
Wipro Limited
194.80
-46.70
-19.34%
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Wipro Limited Corporate Events
Wipro Sets Board Meet to Approve FY26 Results, Closes Trading Window
Apr 2, 2026
Wipro Limited has scheduled a meeting of its Board of Directors over April 15–16, 2026, to consider and approve its condensed audited standalone and consolidated financial results under Ind AS for the quarter and year ended March 31, 2026. T...
Wipro Allots 50,070 Equity Shares Following ESOP Exercise
Mar 5, 2026
Wipro Limited has allotted a total of 50,070 equity shares following the exercise of employee stock options under its ADS Restricted Stock Unit Plan 2004 and Restricted Stock Unit Plan 2007. The allotment, completed on March 5, 2026, marginally in...
Wipro Earthian Awards 2025 Spotlight Sustainability Innovation in Indian Education
Jan 31, 2026
Wipro Limited hosted the 15th edition of the Wipro earthian Awards 2025 at Azim Premji University in Bengaluru, recognizing schools and colleges across India for integrated sustainability education and long-term engagement with environmental pract...
Wipro Publishes Statutory Financial Advertisements Under SEBI Disclosure Norms
Jan 17, 2026
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 adv...
Wipro Files Unqualified Auditor’s Report on Q3 FY26 Standalone Results
Jan 16, 2026
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 ...
Wipro Allots 74,568 Equity Shares Under Employee Stock Plans
Jan 7, 2026
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 t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.