Wipro Limited (WIPRO) AI Stock Analysis

• Market Cap: ₹2.08T
• Dividend Yield: 4.05%
• Average Volume (3M): 365.04K
• Price to Earnings (P/E): 22.1
• 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: 10,487,868,000
• 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: ₹233.75
• Price Target Upside: 0.91% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 4
• EPS Forecast (FY): 12.76
• Revenue Forecast (FY): ₹924.78B

• Rating: 68 Neutral
• Price Target: ₹216.00 ▼(-6.76% Downside)
• Action: Upgraded Date: 01/28/26
• Date: Action: Upgraded 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

Strong margins and profitability

Wipro’s sustained high operating and net margins reflect structural cost advantage from its offshore delivery model, disciplined pricing and operating efficiency. Durable margin levels support reinvestment in capabilities, dividend capacity and buffer against cyclical revenue softness, underpinning earnings quality.

Conservative balance sheet and strong cash generation

Very strong cash conversion and a sizable cash reserve give Wipro durable financial flexibility for acquisitions, shareholder returns and cyclical cushioning. High OCF relative to net income and healthy FCF sustain investment in growth initiatives while limiting reliance on external financing.

Strategic M&A and AI/engineering capability build

Closing HARMAN DTS and launching AI platforms are structural moves expanding addressable markets in engineering, product engineering and AI-led services. These capabilities enhance cross-sell potential, diversify revenue streams and position Wipro for secular demand in cloud, AI engineering and industry platforms.

Negative Factors

Muted organic revenue growth

Persistent flat-to-negative organic top-line trends signal demand headwinds or pricing pressure in some client segments. Limited revenue growth constrains scalability of operating leverage over time, making margin maintenance and long-term EPS progression more dependent on cost cuts or M&A.

Acquisition-related amortization and near-term dilution

Higher amortization and integration costs from acquisitions reduce reported earnings and can mask underlying operational performance. If sustained, these items compress margins and extend payback periods on M&A, raising execution risk for the strategy of growth-by-acquisition.

Sectoral and regional unevenness; lumpy deal timing

Concentration of weakness across specific regions and verticals creates revenue volatility and complicates capacity planning. Lumpy large-deal ramp-ups make cashflow and growth less predictable, reducing visibility into sustainable topline momentum over the medium term.

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	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	218.44B	218.15B	192.37B	189.38B	187.45B	168.41B
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

• Technical Analysis Sentiment: Negative
• Last Price: 231.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• 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 231.65 is above the 20-day moving average (MA) of 214.41, below the 50-day MA of 239.50, and below the 200-day MA of 247.11, indicating a bearish trend. The MACD of -11.86 indicates Positive momentum. The RSI at 18.95 is Positive, neither overbought nor oversold. The STOCH value of 10.64 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
HCLTECH	73 Outperform	₹3.70T	26.95	―	2.86%	7.52%	0.87%
PERSISTENT	69 Neutral	₹737.39B	55.70	―	0.55%	23.27%	33.09%
WIPRO	68 Neutral	₹2.08T	22.11	―	4.05%	1.10%	14.83%
LTIM	66 Neutral	₹1.29T	46.27	―	1.08%	8.72%	4.54%
COFORGE	63 Neutral	₹390.65B	55.81	―	0.88%	41.97%	38.73%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TECHM	55 Neutral	₹1.32T	31.42	―	2.76%	3.30%	36.78%

Wipro Limited Corporate Events

Wipro Earthian Awards 2025 Spotlight Sustainability Innovation in Indian Education

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 practices. From more than 2,000 submissions, an independent jury selected 25 winning teams whose projects addressed biodiversity, waste, and water through hands-on work and reflective analysis, while Wipro’s Sustainability Educators Network partnered with 14 regional NGOs to run nature camps, library sessions, and seasonal sustainability schools that deepened local, real-world learning; the parallel ‘Ideas to Impact’ challenge with IIT Madras further extended this effort into higher education, drawing 2,700 entries from over 1,300 colleges and honoring 10 student teams for eco-innovations in energy, building materials, and water, underscoring Wipro’s strategic push to embed sustainability thinking across India’s education ecosystem and nurture future-ready environmental problem-solvers.

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.