Wipro is an Indian multinational corporation providing IT services, consulting, and business process services. Founded in 1945, Wipro diversified into IT in 1980 and has grown significantly, reporting revenues of Rs. 8,161 crore for fiscal year 2005. The document provides an overview of Wipro's history, businesses, financial performance, and industry-leading certifications in software quality management.

1. SUBJECT : FINANCIAL MANAGEMENT
WIPRO INDUSTRIES

2. 2
INDEX
SRNO TOPIC PAGE NO
1 WIPRO TECHNOLOGIES 3
2 History 4
3 Key industries 6
4 Timeline 7
5 Wipro businesses 7
6 FINANCIAL STATUS 8
7 COMPANY PROFILE REPORT 11

3. 3
WIPRO TECHNOLOGIES
Wipro Technologies is the global technology services division of Wipro established in
1980. It has 30 offices worldwide, 45,000 employees and over 300 customers across
USA, Europe and Japan including 50 of the Fortune 500 companies. Some of its
customers are Boeing, Cisco, Ericsson, IBM, Microsoft, Prudential, Seagate, Sony, and
Toshiba. It is listed at New York Stock Exchange and is part of the TMT (technology-
media-telecom) index of it.
In 1995, it received ISO 9001 quality certification. In 1997, Wipro received CMM level 3
certification from the Software Engineering Institute. In 2001, Business Today rated it as
India's most valuable company. In June 2001, it was ranked among the top 100 best
performing technology companies globally by Business Week. In November 2002, it was
ranked among the top 10 software services companies in the world by Business Week
Wipro Technologies
Type Public (NYSE: WIT)
Founded 1945
Location Bangalore, India
Key people Azim Premji, Chairman and Managing
Director
Industry Computer Services
Products Computer hardware
Revenue $1.2 billion USD (2004)
Employees ~50,000 (2005)
Website www.wipro.com

4. 4
Wipro Technologies, the Global IT Services division of Wipro Limited NYSE: WIT
(incorporated 1946, in operation since 1945) is an India-based global IT services, IT
solutions and technology services major. It is headquartered in Bangalore,India and is
listed on the Bombay Stock Exchange, National Stock Exchange of India and the New
York Stock Exchange. As of 2004, it was the 4th largest company in the world in terms
of market capitalization in IT services.
With over 45,000 employees and revenues in the excess of US $ 1.2 billion it makes
Wipro one of India's major Information Technology companies. Wipro has 54 dedicated
development centers across India, Europe and United States, and also has 30 offices in
North America, Europe and Asia Pacific.
Azim Premji, Chairman and Managing Director of Wipro is said to have been responsible
for expanding and diversifying this company from an FMCG company which made
Vanaspati Oil, soaps and other consumer products into a IT services company it is today.
Wipro, along with other Indian IT Services Companys like Infosys and TCS, are
spearheading India's booming Business Processing Outsourcing(BPO) sector.
Wipro Limited achieved a PCMM Level 5 and SEI CMM Level 5 certification as an IT
Services Company in 1995
OFFICE AND FACILITES
Wipro is headquartered in Bangalore, India, in a campus spread across 464,000 square
feet (43,000 m²). Wipro has 54 dedicated development centers across India, Europe and
United States, and also has 30 offices in North America, Europe and Asia Pacific.
Wipro's centres in India are spread across Hyderabad, Bangalore, Calcutta,Chennai,
Gurgaon, Mumbai, New Delhi, Pune and Kochi.
History
Wipro was set up in the backdrop of the small town of Amalner in Maharashtra in 1945.
Primarily an oil factory, the chief products were Sunflower Vanaspati and 787 laundry
soap (a by-product of the Vanaspati operations). The company was called Western India
Products Limited, with a modest presence in Maharashtra and Madhya Pradesh
In the 1970s Wipro embarked on an ambitious phase of expansion and diversification
It was in the early eighties that Wipro made its foray into the Infotech arena. An
energetic, committed team of professional R & D and marketing managers came together
in Bangalore in 1980. With this began the Wipro Infotech story. In a small lab at the
Indian Institute of Science (IISc), the team developed the first Indian 8086 chip
Wipro has transcended from being a service provider to being a consultant, guide and
trusted partner

5. 5
Wipro Consumer Care and Lighting (WCCLG) is the mother division of Wipro Ltd with
its roots going back to 1945 when Western India Vegetable Products was incorporated as
a Private Ltd company to manufacture edible oil.
Over the years, Wipro Consumer Care and Lighting has crossed various milestones and
metamorphosed from being a manufacturer of Hydrogenated Vegetable Oils to a strong
player in the FMCG space with robust brands addressing consumer needs in various
categories like Personal Wash, Fabric Wash, Toiletries, Personal Grooming, Baby Care,
Cooking Medium, Domestic and Industrial Lighting and Energy drinks. WCCLG’s
acquisition of the Chandrika in December 2003 has heralded Wipro’s entry in the fast
growing Natural Products market.
A focus on customer needs with distinctive offerings, supported by a robust distribution
system, and innovation in product and strategy have helped us successfully compete with
dominant market players in categories like soaps, lighting and baby skin care with brands
that make WCCLG;
No.1 in Haircare Soaps
No. 2 in Toilet Soaps in South and No. 4 All
India
No. 2 in Baby Skin care products
No. 2 in General Lighting Systems (Bulbs)
No. 2 in the Ayurvedic soap segment.
No. 2 in Cosmetic Talcum Powder
Wipro Technologies is the global technology services division of Wipro established in
1980. It has 30 offices worldwide, 24,400 employees and over 300 customers across
USA, Europe and Japan including 50 of the Fortune 500 companies. Some of its
customers are Boeing, Cisco, Ericsson, IBM, Microsoft, Prudential, Seagate, Sony, and
Toshiba. It is listed at New York Stock Exchange and is part of the TMT (technology-
media-telecom) index of it.
In 1995, it got ISO 9001 quality certification. In 1997, Wipro got CMM level 3
certification from the Software Engineering Institute. In 2001, Business Today rated it as
India's most valuable company. In June 2001, it was ranked among the top 100 best
performing technology companies globally by Business Week. In November 2002, it was
ranked among the top 10 software services companies in the world by Business Week.
Wipro Technologies, the Global IT Services division of Wipro Limited (incorporated
1946, in operation since 1945) is an India-based global IT services, IT solutions and
technology services major. It is headquartered in Bangalore,India and is listed on the
Bombay Stock Exchange, National Stock Exchange of India and the New York Stock
Exchange. As of 2004, it was the 4th largest company in the world in terms of market
capitalization in IT services.

6. 6
With over 44,000 employees and revenues in the excess of US $ 1.2 billion it makes
Wipro one of India's major Information Technology companies. Wipro has 54 dedicated
development centers across India, Europe and United States, and also has 30 offices in
North America, Europe and Asia Pacific.
Azim Premji, Chairman and Managing Director of Wipro is said to have been responsible
for expanding and diversifying this company from an FMCG company which made
Vanaspati Oil, soaps and other consumer products into a IT services company it is today.
Wipro, along with other Indian IT Services Companys like Infosys and TCS, are
spearheading India's booming Business Processing Outsourcing(BPO) sector.
Wipro Limited achieved a PCMM Level 5 and SEI CMM Level 5 certification as an IT
Services Company in 1995.
Key industries
The key industries covered currently under this practice are:
Engineering Enterprises
Financial Services
Healthcare
Life Sciences
Manufacturing
Retail & Consumer Packaged Goods
Banking and Capital Markets
Travel and Leisure
Media and Entertainment
Technology
Telecom
Transportation
Aviation
Utilities & Energy
Enterprise Solutions
Business process outsourcing (BPO) through - Wipro BPO
Consulting

7. 7
Timeline
Wipro Limited was incorporated in 1945 and commenced its operations in 1946.
Significant milestones are
• 1947:An oil mill and hydrogenated cooking medium plant set up
• 1975:Wipro Fluid Power set up to manufacture hydraulic and pneumatic
cylinders
• 1980:Information technology services for domestic market started
• 1983:Software products subsidiary -Wipro Systems Ltd. – established
• 1985:Toilet soaps manufacture begins
• 1989:Joint venture with GE of US for medical systems, Wipro GE Medical
Systems Ltd
• 1990:Product software business discontinued; software services begin
• 1992:Lighting business established
• 1994:Merger of subsidiaries Wipro Technologies Ltd. and Wipro Systems
Ltd. with Wipro Ltd
• 1999:Software business reaches SEI certification
• 1999:Wipro Net set up by restructuring Wipro Ltd.'s communication services
business to address the Internet market
• 2000:Listing of Wipro Ltd.'s ADRs on New York Stock Exchange
• 2000:Six Sigma initiative begun
• 2001:Wipro becomes world's first PCMM Level 5 company
• 2002:Wipro becomes CMMi
Wipro businesses
Wipro Technologies
Wipro Infotech
Wipro Consumer Care and Lighting
Wipro Fluid Power
Wipro GE Medical Systems
Wipro ePeripherals (WeP)
Wipro BPO *[1]
Interview at Wipro
FINANCIAL STATUS

8. 8
Founded in 1945 and diversifying into the IT sector in 1980, Wipro is engaged in
providing software services, product sales and implementation, business process
outsourcing, consumer care, and lighting products. These services are provided to
industries such as telecom, BFSI, energy and utilities, healthcare, transportation, and
manufacturing. The company also provides product development outsourcing services in
product design services, embedded systems software, control systems design, and system
integration.
Wipro is headed by Azim H Premji, chairman and managing director of the company.
The equity of the company currently stands at Rs 140.7 crore, wherein 83% is held by the
promoters, 5% by institutional investors, 7% by the Indian public, and the balance 5% is
held by private corporate bodies and others.
For the financial year ended March 2005, Wipro reported an impressive revenue growth
of 40% amounting to Rs 8160.5 crore as compared to Rs 5840 crore in the previous
financial year. All the company's business segments reported growth with the Indian and
the Asia Pacific IT Services & Products segment registering a 43% growth amounting to
Rs 1396.4 crore as compared to Rs 976.2 crore in the last year. Revenues from the Global
IT Services & Products segment amounted to Rs 6075.3 crore as against 4357.5 crore, up
39%, whereas revenues from the Consumer Care & Lighting segment registered a 6%
growth amounting to Rs 225.8 crore against Rs 182.6 crore. Revenues for USA amounted
to Rs 4193.5 crore, up 36% as compared to Rs 3086.8 crore, whereas revenues for the
same
period from India witnessed a 28% annual growth amounting to Rs 1951.3 crore as
against 1520.5 crore. Rest of the world registered a 59% growth in revenues, of Rs 2025
crore, as compared to Rs 1273.9 crore. The net profit for the same period stood at Rs
1628.5 crore as compared to Rs 1031.5 crore, up an impressive 58%.
Wipro signed a multi year contract with Loyalty Gate Limited, a European provider for
integrated solutions to airlines for application maintenance, support and development of
Loyalty Gate's business critical application, which would be used for providing services
to three leading European airlines. The company also entered into an agreement with
Dassault Systemes, which would enable its customers to manage the product lifecycle
management process with Dassault Systemes' CAA V5 platform.
The company also announced results for the final quarter ended March 2005, wherein
revenues amounted to Rs 2301.1 crore, witnessing a healthy 9% sequential and 30% y-o-
y revenue growth as compared to Rs 2103.8 crore and Rs 1773.4 crore. The Indian and
the Asia Pacific IT Services & Products segment registered a 32% y-o-y growth
amounting to Rs 484.2 crore, contributing 21% of the total quarterly revenues. Revenues
from the Global IT Services & Products segment amounted to Rs 1640.9 crore,
witnessing a 31% growth and a 71% contribution, whereas revenues from the Consumer
Care & Lighting segment registered a 20% growth amounting to Rs 102 crore
contributing 5%. Other business segments contributing the balance 3% of the quarterly
revenues amounting to 62.8 crore, up 2% y-o-y. Revenues for the USA, India and the rest
of the world contributed 48%, 28% and 24% amounting to Rs 873.8 crore, Rs 572.5 crore

9. 9
and Rs 340 crore, registering a 28%, 14% and 58% y-o-y growth respectively. The net
profit of the company marginally grew a percent on a sequential basis amounting to Rs
433 crore, whereas the net profit, as compared to the same quarter in the last year
witnessed a 35% increase. Wipro added 41 clients during the quarter. The total staff
strength of the company at the end of the quarter stood at 41,857 employees, with 26,184
in IT services business and 15,673 in BPO services. During the quarter there was a net
addition of 2,520 employees with 1,187 employees in IT services business and 1,333 in
BPO services.

10. 10
Consolidated Financials
2004
2005
2006*
2007*
Sales
5840
8161
10367
13076
Other Income
132
95
70
60
Operating Profit
1271
2052
2703
3462
Operating Profit Margin (%)
22
25
26
27
Net Profit
1032
1629
2162
2766
Equity Capital
47
141
141
141
EPS (Rs)
44
23

11. 11
Wipro had signed a three-year, multi-million Euro deal with Dutch chemicals group
Akzo Nobel NV to implement a shared information technology network by providing
infrastructure management services for data centers across Europe and the US. Wipro
entered into a strategic alliance with TestQuest Incorporated, a provider of test
automation solutions for the mobile and wireless industry to develop a multimedia
messaging service and an automated test solution for the former's expanding mobile and
wireless customer base. The company recently opened its third office at Munich in
Germany, which it claims is the next phase of the company's plans for investment in
expanding its German infrastructure, and is a step forward in its vision of going global.
Wipro is currently traded at Rs 637 discounting our projected March 2006 EPS by 21
times and March 2007 EPS by 17 times. We had rated the stock as a market performer in
February 2004 and since then stock has appreciated by 11%, against a 28% appreciation
in the BSE Tech index. Based on the steady improvement in profitability and sales
growth, we would upgrade this stock to Market Outperformer.
Sushanto Mitra The author is the founder of Technology Capital Partners The views
reflected here are of the author and not of this publication. No liability is accepted for
losses based on the information presented here

12. Fact Sheet 12
www.wipro.com
Doddakannelli Sarjapur Road, Bangalore - 560 035
Tel: +91 (80) 28440011
Fax: +91 (80) 28440256
Area of Specialization Software services, product sales and implementation, BPO consumer care and
lighting.
Revenues (March 2005) Rs 8,161 crore
Offices India, USA, Canada, UK, France, Sweden, Germany, Finland, Italy and Japan
Listing (Stock Exchanges) BSE and NSE
Face Value Rs 2 per share
Current Market Price Rs 637 per share
52-Week High/Low 777/400
BSE Code 507685
NSE Code WIPRO
SURESH C SENAPATY, Corporate Executive Vice President-Finance and Chief
Financial Officer
As Chief Finance Officer and Corporate Executive Vice President - Finance, Wipro
Suresh Senapaty heads Legal, Business Planning, Treasury and Controllership, of Wipro.
Suresh Senapaty's association with Wipro goes back to Wipro Consumer Care business
where he was the CFO. He later moved as Vice President-Finance of Wipro Infotech. He
moved to his present role as CFO for the entire Wipro Corporation in 1995.
Suresh Senapaty has accomplished a number of significant milestones for Wipro
Corporation. His first assignment was the merger of various companies such as Wipro
Infotech and Wipro Systems with Wipro Ltd. He played a key role in the New York
Stock Exchange Listing of Wipro in 2000. This is the second time in the history of Wipro
that it accessed the capital market, the first time being as early as He has been a
committee member of the Confederation of the Indian Industry (CII) at the Regional
Level and has made successful representations to the Government India on a variety of
Industry related issues.

13. 13
COMPANY PROFILE REPORT.
This detailed Report provides an Earnings and Dividends history for Wipro Limited.
Tabular results include up to a ten-year history of "as reported" Earnings per Share and
Dividends per Share plus a calculation of the amount of earnings paid out over the year in
dividends (i.e. Payout Ratio). Earnings and Dividends are presented on both a Quarterly
and Annual basis. An annual Percent Change factor is calculated for both Earnings and
Dividends.
Wipro Limited. The Group's principal activities are to offer information technology
services. These services include integrated business, technology and process solutions
including systems integration, package implementation, software application
development and maintenance and transaction processing. These services also comprise
of information technology consulting, personal computing and enterprise products,
information technology infrastructure management and systems integration services. The
Group also offers products related to personal care, baby care, wellness products. The
operations of the Group are conducted in India, the United States and other countries