Suresh C. Today, we are poised well for our next stage of growth. We believe that our future will be built around the following pillars: Obsession for growth both organic and through relevant strategic acquisitions - All our acquisitions have done well viz Glucovita glucose powder, Chandrika soap, Northwest switches, Unza South East Asia and Yardley toiletries in India, South East Asia and Middle East.
Leadership position in defined countries and businesses - We will seek leadership positions in personal care in India, Malaysia and Vietnam. We today have in place a global mobility programme, that helps in cross fertilization of ideas and best practices, besides meeting the career aspirations of our employees. Speedy and effective execution Our business has three main segments Our Indian household business including personal care and domestic lighting , Unza - our International personal care business, that spans across Asia and Africa and the Indian Office Solutions business.
Let me share with you a snapshot of our businesses in This growth was lead by our acquisition last year Yardley which has outperformed expectations. Our International personal care business Unza focuses on personal wash, toiletries, fragrances , deodorants, skincare and haircare categories.
Our skin care thrust in Malaysia is performing well. Our launches of premium designer ranges have done well in our Modular Furniture segment helping us enrich our portfolio of offerings as well as tide over the cost pressures. It has been an invigorating year in We look forward to another exciting year in !
Looking ahead, Asia and Latin America are clearly emerging as the highest growth markets for hydraulic cylinders, driven by significant investments in infrastructure development. Our major customers are investing heavily in emerging markets and looking for global partners who can support their growth needs. Wipro, with presence across India, China and Europe, is uniquely positioned to emerge as their global partner of choice. As an endorsement of our capability, two of the largest global manufacturers of construction equipment entered into long term multiple location supply contracts with us during the year.
We continued our investment in a new manufacturing architecture: a flexible, hub and spoke manufacturing model with the lowest manufacturing cost. Our capacity enhancement programme aims at increasing current annual capacity from 0. This includes new capacity in geographies like Brazil as well as capacity enhancement in existing markets. We have also embarked on an ambitious quality journey which aims to position us as best in class on stringent quality measures.
The organization structure has been simplified globally on functional lines Sales, Engineering and Operations. Our customers stand to benefit as they see a single face of Wipro irrespective of where the product is originating from.
Engineering expertise has also been globalised with product specific centers of excellence closer to the customer. This structure is also helping us develop a globally diverse leadership talent pool.
While the fundamentals are in place, driven by our validated strategy, we need to work extremely hard on our execution plans to drive capacity, quality and cost competitiveness in the face of global competition. These are exciting times for the business as we embark on our journey to creating a truly world class manufacturing organization out of India. Premji Chairman B.
Jagdish N. Sheth Director since January, Dr. Ashok Ganguly Director since Mr. More recently, Mr. Premji, has been honored with the Padma Vibhushan award by Govt. Prabhakar has been a practicing lawyer since April and holds a B. Vaghul holds a B. Currently he is on the Boards of Mahindra and Mahindra Ltd. Sheth holds a B. Com Hon. Reddys Laboratories Ltd. He has been honored with the CBE Hon. Premji Chairman Dr. Premji - Chairman Suresh C. Sinha holds a B.
Currently, he is on the Boards of Bata India Ltd. Ltd and on the Advisory Board of Rieter India. Owens holds an M. A from George Washington University, a B. Naval Academy and a B. Senapaty holds a B. Kagermann is professor for Theoretical Physics at the Technical University Braunschweig, Germany and has received honorary doctorate from the University of Magdeburg, Germany. He last served as the Special Envoy of the Prime Minister of India and was also named the Indian envoy on climate change.
Prior to this he was the Foreign Secretary, Govt. He has been honored with Padma Bhushan for his contribution in civil services. Kurien is a Chartered Accountant and holds a Degree in Engineering.
Senapaty Executive Director since April, Dr. However, offshore IT spending is expected to grow faster. Key factors supporting this projection are the growing impact of technology-led innovation and the increasing demand for global sourcing. India is a major component of the offshore IT outsourcing.
Companies are increasingly turning to offshore technology service providers in order to meet their need for high-quality cost-competitive technology solutions. Technology companies have been outsourcing software research and development and related support functions to offshore technology service providers to reduce cycle time for introducing new products and services.
India is also a leading destination for IT enabled services. The proven track record and client relationships of established Indian IT services companies; availability of a large, high quality, English speaking talent pool; industry moving up the value chain to provide business and technology solutions; and a regulatory environment more friendly to investment are facilitating Indias emergence as a global outsourcing hub.
Economic Overview The global economy, post the unprecedented economic downturn in , has seen signs of steady recovery. While the world output had decline by 0. While the economy is not completely out of woods, there is a lot more reason for optimism.
We are increasingly seeing a bi-polar world with subdued growth in the developed markets and developing markets growing at a healthy pace. Coupled with this change, we are also seeing ecological sustainability gaining more prominence. Wipro is well positioned to profitably grow in this evolving landscape. Our IT business addresses the needs of both the developed and developing markets, as the customers look to transform their cost and revenue in addressing their client needs. Our Consumer Care and Infrastructure Engineering businesses seek to benefit from the economic boom of the emerging markets.
Our new business initiative EcoEnergy will help businesses become eco-friendly in the way they operate. Wipro Credentials and Prospects At Wipro, we are focused on creating the right kind of growth framework in order to leapfrog into the next level and be : a trusted partner of choice to clients employer of choice in the sphere of our operations preferred partner of choice to our alliances recognized as an organization that delivers sustainable and profitable growth to our investors In line with achieving this goal, we are driving strategies and initiatives aimed at profitable growth.
We have 6 key elements to enable this: 1. Client-centricity: With the client being our central focus, we have re-designed our proposition and capabilities to address the needs of Global enterprises. Our endeavor is to deepen penetration of these accounts through a consulting-led domain approach to business.
Further, we are pursuing the Client Engagement Manager model, which enables swift and impeccable execution with single point accountability with support from rest of the organization. People The Central Nervous System: We believe that people are the backbone of our organization; hence a large part of the management focus is towards building and developing employees.
Our aim is to build the best in class global leadership and provide employees unlimited opportunities for career enhancement and growth. It is our aim to be a truly global company that not only services customers globally but also employs people worldwide. We have employees of 74 nationalities on our rolls. Co-creating our value proposition along with clients: We believe that the fundamental business practice in this new millennium will be multiple entities working together as one value chain in order to create superior flexibility, productivity and financial performance.
Keeping in line with macro and micro changes taking place, we have developed a research-backed consulting-led approach involving all stakeholders employees, clients and partners to arrive at our 21 century Inc model to meet the needs of the increasingly global enterprise.
The focus is to develop IP assets that solve clients business problems efficiently. Innovation: For us, innovation is not just a term. It is at the core of what we do, part of a business driven culture imbibed in the organization.
We innovate to meet changing client needs and technology advancements besides generating newer streams of revenue for the organization.
Our innovation not only has the ability to drive significantly higher productivity and efficiency in client enterprises but also possesses the potential to fundamentally alter underlying business models of clients.
Our strategy for growth is backed by strong investments in delivery capabilities like: 1. Global Delivery Model a. As the industry is moving rapidly into a commoditized market for pure play IT services at one end and specialized transformational capabilities at the other end, the delivery models are morphing to align to these changes.
As pioneers of the Global Delivery Model or GDM, we have always looked at innovative ways of servicing customers more effectively by leveraging on the depth of experience in the Wipro ecosystem.
Several of these differentiated services are now scaling up and demonstrating a strong value proposition to customers besides enabling us to open marquee accounts as well as delivering business benefits to customers. To enable the alignment of the delivery competencies to the changing customer needs, a tiered competency development framework with associated training and assessment centers have been set up.
A fast-track program to create Project Management talent has been created with talent from premier engineering colleges being exclusively selected and groomed for this cadre.
We have invested in training capabilities with capacity to train 10, employees every day across IT Services. We have plus trainers across our business. In line with the goal of providing world class delivery experience to customers, we have set up competency- led centers at strategic locations including Atlanta in the US, Chengdu in China, Romania and Philippines.
The team of over 3, professionals working from these centers has the motto of Global Reach with a local touch. Overall, we have more than 20, employees onsite. Equaterra, an independent sourcing advisory in more than 60 countries, ranked Wipro 1 in Client Satisfaction, Applications Management, Infrastructure Management, Price and Governance; underlining Wipro as a leader for client satisfaction in its detailed UK IT service provider performance study.
Non Linearity the game changer a. Non linearity is a concept that we have started to focus on in the last couple of years be it new engagement models, way of delivery or building platforms and automation. The company has developed non linearity in two areas Revenue initiatives and Delivery initiatives. The focus that we have put in to build Non Linear capability is yielding results and the benefits are being seen both by our customer and employees. Non linearity brings in efficiencies of deployment, tools and accelerators and productized solutions.
A key investment of Wipro towards seamless global delivery is the Flex Delivery model an industrialized, multi-tenanted service delivery model providing fast startup, predictable time of delivery and reduced total cost of operation through well defined processes, tools, interfaces and a de-centralized scalable team.
The model comprises of pre-defined, standardized and scalable set of services that can be delivered on demand by the customers. Several of the industry verticals have also adopted this model over the past one year. The maturity of the centers has been assessed and improved using proprietary frameworks and workflow tools. Solution accelerators teams within Wipro have generated hundreds of accelerators for use in projects.
The company has run contests successfully to generate ideas from employees to develop future accelerators as part of this initiative. In USD terms our revenue increased by This increase is primarily on account of increase in volume by During the current year, we realised As part of our non-linearity drive and focus on improving revenue productivity, we have increased our percentage of revenue contribution from Fixed Price Projects to In FPP, we undertake to complete project within agreed timeline for a given scope of work.
The economic gains or losses realised from completing the project earlier or later than initially projected timelines accrues to us. We added new customers in the current year, as against in the previous year. Other major costs included Sub-contracted manpower cost, depreciation and employee-travel cost. The operational drivers for manpower costs are Utilisation of employees, Onsite: Offshore composition and the composition of experience profile of employees called Bulge-mix. Risk Factors Our revenues from this business are derived in major currencies of the world while a significant portion of its costs are in Indian rupees.
The exchange rate between the rupee and major currencies of the world has fluctuated significantly in recent years and may continue to fluctuate in the future. Currency fluctuations can adversely affect our revenues and gross margins.
The market for IT services is highly competitive. Our competitors include software companies, IT companies, systems consulting and integration firms, other technology companies and client in-house information services departments. In an economic slowdown, our clients located in these geographies may reduce or postpone their technology spending significantly. Reduction in spending on IT services may lower the demand for our services and negatively affect our revenues and profitability.
Some countries and organizations have expressed concerns about a perceived association between offshore outsourcing and the loss of jobs domestically. This may adversely impact our ability to do business in these jurisdictions and could adversely affect our revenues and operating profitability. Our employees who work onsite at client facilities or at our facilities in the United States on temporary or extended assignments typically must obtain visas.
These risks are broadly country risks. At an organizational level, we have a well-defined business contingency plan and disaster recovery plan to address these unforeseen events and minimize the impact on services delivered from our development centers based in India or abroad. The key components of the hardware industry are servers, clients desktops and laptops , storage devices, peripherals and networking equipments.
The overall hardware growth is projected at Wipro Credentials Our IT Products business provides a range of IT products encompassing computing, storage, networking, security, and software products. Under this segment, we sell IT products manufactured by us and third-party IT products. Establish leadership position in 10 cities through increased coverage and marketing activities - Deliver customized solutions Alliances - realign existing and form new alliances, leverage alliance partnerships for joint Go-To-Market with Wipro.
Partner with emerging technology providers to improve market address and develop new streams of revenue Operational Excellence- Sustain Green Leadership in Wipro manufactured products. Continue to drive delivery and operational excellence through industry standard processes and global best practices for better customer satisfaction CSAT and cost optimization.
Wipro Limited 37 Our Product range includes 1. Wipro Manufactured Products: Our manufactured range of products comprises desktops, notebooks, Net Power servers and super computers. Wipros own brand of product competes successfully with all the global brands in various market segments. We offer form, factors and functionalities that cater to the entire spectrum of users from individuals to high-end corporate entities.
Enterprise Platforms: Our offerings under this category comprise of design and deployment services for enterprise class servers, databases and Server computing resource management software.
Networking Solutions: Our offerings under this category comprise of consulting, design, deployment and audit of enterprise wide area network WAN , wireless LAN and unified communication systems. Software Products: Our products under this category comprise enterprise application, data warehousing and business intelligence software from worlds leading software product companies. Data Storage: Our products under this category comprise network storage, secondary and near line storage, backup and storage fabrics.
Enterprise Security: Security products include Intrusion detection systems, firewalls and physical security infrastructure covering surveillance and monitoring systems. Emerging Technologies: We also cater to new technologies in the market including virtualization, IP video solutions and private cloud implementations. Our gross profit as a percentage of our revenue of our IT Products business increased by 41 bps.
This increase is primarily due to an increase in the proportion of revenues from high yield products. Risks IT Products revenues are impacted by seasonal changes that affect purchasing patterns among our consumers of desktops, notebooks, servers, communication devices and other products. The IT products market is a dynamic and highly competitive market. In the marketplace, we compete with both international and local providers. We are witnessing higher pricing pressures due to commoditization of manufactured products business and higher focus on Indian markets by all leading IT companies.
Nonetheless, we are favourably positioned due to our quality leadership, expertise in target markets and our ability to create client loyalty by delivering value to the customer.
The Indian domestic market for institutional lighting and office modular furniture is estimated at U. Wipro Credentials Our Consumer Care and Lighting business focuses on niche profitable market segments in personal care in specific geographies in Asia, Middle East and Africa, as well as office solutions in India. We successfully leverage our 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 products.
Our office solutions include lighting products, modular switches, modular furniture and security solutions. Our Santoor brand is the third largest in India in the soap category, and Safi brand is the largest Halal toiletries brand of Malaysia. Our Yardley brand gives us a stronger presence in the Middle East, and into the luxury segment of personal care.
We are amongst the top 15 players in personal care in India, and fourth largest player in personal care in both Malaysia and Vietnam. We sell and market our consumer care products primarily through our distribution network in India, which has access to 5, distributors and 1.
We sell significant portion of our lighting products to major industrial and commercial customers through our direct sales force, from 29 sales offices located throughout India. Consumer Care and Lighting revenue increased in the current year by This increase is attributable to an increase of approximately Our gross profit as a percentage of our revenues from the Consumer Care and Lighting business decreased by bps.
The reduction in gross margins is primarily due to an increase in major input costs. This was partially offset by increase in gross margin due to integration of our acquisition of Yardley. Wipro Limited 39 Risk Factors Our competitors in the consumer care and lighting are located primarily in India, and include multinational and Indian companies.
Certain competitors have recently focused on sales strategies designed to increase sales volumes through lower prices. Sustained price pressures by competitors may require us to respond with similar or different pricing strategies. This may adversely affect our gross and operating profits in future periods. A major share of revenue in Consumer Care and Lighting business comes from top three brands in India and international business.
Any dilution in market share of such brand against competition may adversely impact our revenue. Further, price volatility in major inputs for personal care products, could have an adverse impact on our margin. Others Our Others business includes our Infrastructure Engineering business. We are the worlds largest third-party manufacturer of hydraulic cylinders. It is centered on our mobile construction equipment business and our material handling business.
We manufacture and sell cylinders and truck hydraulics, and we also distribute hydraulic steering equipment and pumps, motors and valves for international companies. We have a global footprint in terms of manufacturing facilities in Europe and India and sell to customers across the globe.
In the current financial year, we are seeing resurgent growth specifically in the Asia segment of our business. We believe that the fundamentals of the infrastructure engineering business remain strong.
We are also in the water solutions business, which addresses the entire spectrum of treatment solutions, systems and plants for water and waste water for industries.
We are also in cleantech business Wipro EcoEnergy, which provides intelligent, sustainable alternatives for energy generation, distribution and consumption. We transform analytical insights obtained from energy data into sustainable solutions.
We help customers reduce their energy footprint, recover higher energy efficiencies from energy deployment and replace conventional with renewable energy sources. Risk Factors The Infrastructure Engineering business is linked to infrastructure spending globally. If there is an economic slowdown, it would translate in to lower growth for our customers and in turn reduce our growth prospects.
Performance Highlights Revenue from our Others business, including reconciling items, increased by The increase in revenue is attributable to increased demand for infrastructure engineering products in India and Europe. This increased revenue was partially offset by a decline in revenue from our IT Products business segment.
Our gross profit as percentage of our total revenue increased marginally by 17 basis points bps. This was primarily on account of an increase in gross profit as a percentage of revenue from our IT Products business by 41 bps, an increase in gross profit as a percentage of revenue from our Others business, including reconciling items by bps.
This increase was partially offset by a decline in gross profit as a percentage of revenue from our IT Services and Consumer Care and Lighting business.
Our selling and marketing expenses as a percentage of revenue increased from 6. In absolute terms selling and marketing expenses increased C. Performance Review at Corporate Level Our revenue and profit for the years ended March 31, and are provided below.
Wipro Limited and Subisidiaries by Our general and administrative expenses as a percentage of revenue increased from 5. In absolute terms general and administrative expenses increased by This increase was partially offset by a decline in the Consumer Care and Lighting business.
As a result of the foregoing factors, our operating income increased by Our finance expenses, increased from R1, million for the year ended March 31, to R1, million for the year ended March 31, This increase is primarily due to increase of R1, million in exchange loss on foreign currency borrowings and related derivative instrument. This is partially offset by lower interest expense by R million during the year ended March 31, , due to lower loans and borrowings. Our fi nance and other i ncome, i ncreased from R4, million for the year ended March 31, to R6, million for the year ended March 31, Our interest and dividend income increased by R2, million during the year ended March 31, as compared to year ended March 31, This was partially offset by decrease of R million in the gain from sale of investments during the same period.
Our income taxes increased by R million, from R9, million for the year ended March 31, to R9, million for the year ended March 31, Adjusted for tax write-backs our effective tax rate declined from Wipro Limited 41 This decline is primarily due to higher profit based deductions during the year ended March 31, Our equity in earnings of affiliates for the years ended March 31, and was R and R million, respectively.
Equity in earnings of affiliates primarily relates to the equity in earnings of Wipro GE. As a result of the foregoing factors, our profit attributable to equity holders increased by R7, million, or For forward foreign exchange contracts which are designated and effective as cash flow hedges, the marked to market gains and losses are deferred and million reported as a component of other comprehensive income in stockholders equity and subsequently recorded in the income statement when the hedged transactions occur, along with the hedged items.
Although our functional currency is the Indian rupee, we transact a significant portion of our business in foreign currencies, in particularly the U.
The exchange rate between the rupee and the dollar has changed substantially in recent years and may fluctuate substantially in the future. Consequently, the results of our operations are affected as the rupee fluctuates against the U.
Our exchange rate risk primarily arises from our foreign currency revenues, cash balances, payables and debt. We enter into derivative instruments to primarily hedge our forecasted cash flows denominated in certain foreign currencies, foreign currency debt and net investment in overseas operations.
Cash and cash equivalent and short-term investments, net of debt was R 57, million. In addition we have unused credit lines of R 37, million. To utilize these lines of credit we require the consent of the lender and compliance with certain financial covenants.
We have historically financed our working capital and capital expenditure through our operating cash flows and through bank debt, as required. Cash provided by operating activities decreased by R10, million, while profit for the year increased by R7, million during the same period.
The decrease in cash provided by operating activities is primarily due to an increase in current receivables including unbilled, attributable to an increase in number of receivable days in the IT Services business from 61 days in March to 70 days in March and an increase in receivable days in the IT Products business from million days in March to days in March Further, operating cash flow decreased due to increase in inventory days for consumer care and lighting and infrastructure engineering by 2 days and 4 days, respectively and also due to increase in finance lease receivables by R2, million primarily relating to large projects.
This is partially offset by the increase in trade payables and accrued expenses on account of better management of payment terms. Receivable days as of a particular reporting date is the proportion of receivables, adjusted for unbilled and unearned revenue to the revenues for the respective fiscal quarter multiplied by Cash used in investing activities for the year ended March 31, was R17, million.
Cash provided by operating activities was utilized for the net purchase of investments and inter-corporate deposits amounting to R11, million. We also purchased property, plant and equipment amounting to R12, million, which was primarily driven by the growth strategy of the Company.
Cash used in financing activities for the year ended March 31, was R26, million as against R million for the year ended March 31, This increase is primarily due to increase in net repayment of loans and borrowings amounting to R10, million and payment of dividend amounting to R15, million. The proposal is subject to the approval of shareholders at the Annual General Meeting to be held on July 19, , and if approved, would result in a cash outflow of approximately R11, million including corporate dividend tax thereon.
We continually monitor our funding requirement and strategies are executed to maintain sufficient flexibility to access global funding sources, as needed. As discussed above, cash generated from operations is our primary source of liquidity.
Borrowing costs are recognized in the statement of income using the effective interest method. Finance and other income Our finance and other income comprises interest income on deposits, dividend income and gains on disposal of available-for-sale financial assets.
Interest income is recognized using the effective interest method. Dividend income is recognized when the right to receive payment is established. Liquidity and Capital Resources The Companys cash flow from its operating, investing and financing activities, as reflected in the Consolidated Statement of Cash Flows under IFRS, is summarized in the table below: Wipro Limited 43 Our purchase obligations include all commitments to purchase goods or services of either a fixed or minimum quantity that meet any of the following criteria: 1 they are non-cancelable, or 2 we would incur a penalty if the agreement was terminated.
Interest payments on floating rate debt have been calculated based on the payment dates and implied forward interest rates as of March 31, for each relevant debt instrument. Plans to construct or expand our software development facilities are dictated by business requirements.
In relation to our acquisitions, a portion of the purchase consideration is payable upon achievement of specified earnings targets in future. We expect that our cash and cash equivalents, investments in liquid and short-term mutual funds and the cash flows expected to be generated from our operations in future will generally be sufficient to fund the earn-out payments and our expansion plans. In the normal course of business, we transfer accounts receivables, net investment in sale-type finance receivable and employee advances financial assets.
Our liquidity and capital requirements are affected by many factors, some of which are based on the normal ongoing operations of our businesses and some of which arise from uncertainties related to global economies and the markets that we target for our services. We cannot be certain that additional financing, if needed, will be available on favorable terms, if at all. As of March 31, and , our cash and cash equivalent were primarily held in Indian Rupees, U.
Contractual obligations The table of future payments due under known contractual commitments as of March 31, , aggregated by type of contractual obligation, is given below: Figures in R Million except earnings per share data Particulars Payments due in onwards Short-term borrowings 31, - - - Long-term debt 1, 19, 35 15 Obligations under capital leases 80 60 Estimated interest 1 payment 6 3 Capital commitments 2, - - - Non-cancelable operating lease obligation 1, 3, 1, 3, Purchase obligations 3, - - - Other non-current 2 liabilities - 73 - - Total contractual payment 31, 20, 2, 10, 3, 73 Annual Report 44 D.
It is backed by a competent and specialist team that develops frameworks and methodologies for organization wide deployment. The risks are then subjected to detailed review mechanisms which are tool based and norm triggered.
Mitigation measures in the form of systemic fixes are deployed and are subjected to a stress test to evaluate their robustness and effectiveness.
We made a conscious decision to move to a regimen of pro-active risk management by responding to weak signals through program-managed mitigation mechanism as compared to a reactive crisis management approach which is event induced. By acting early, we give ourselves a wider selection of options and alternatives to respond effectively and decisively.
Alliance Risks 2. Country Geo-Political Risks 5. Emerging Technology Risks 7. Fraud Risks 8. Intellectual Property Risks Large Programs Order to Cash Risks Regulatory Compliance including Employment, Immigration and Tax laws Security measures in offshore locations enhanced with a tie up with Central Industrial Security force of Indian government.
Proactive Anti-Fraud Initiatives The control environment has been further strengthened during the year with more automated controls. Failure modes were comprehensively re-assessed and technology solutions were explored and implemented to automate controls. Enhancing the Customer engagement - security compliance by federated model of compliance The Business continuity process was successfully invoked in response to the Japan nuclear crisis Oekom Research Germany ranked Wipro in the top most position for its Information security compliance related to management of customer data as part of its corporate responsibility review report Annual Report 46 Alliance Risk Management A Risk Management framework was deployed to assess the risks in engagement with critical alliance partners.
Key risk indicators such as availability of alternates, financial stability, and delivery performance were assessed and mitigated. We have followed a practice of providing only revenue guidance for IT Services, our largest business segment. The guidance is provided at the release of every quarterly earnings when detailed Revenue outlook for the succeeding quarter is shared.
Over the years, the Company has performed in line with quarterly Revenue guidance. On April 27, , along with our earnings release for quarter ended March 31, , we provided our most recent quarterly guidance. Outlook F. Internal Control Systems We have presence across multiple countries, and a large number of employees, suppliers and other partners collaborate to provide solutions to our customer needs.
Robust internal controls and scalable processes are imperative to manage this global scale of operations. He is an active member of the various industry bodies.
Suresh C. Senapaty is on the Board of Wipro Enterprises since He is also an Non-Executive Director of the company. Senapaty joined Wipro in after a stint with Lovelock and Lewis PwC and headed the finance function of the largest factory then in Wipro in Maharashtra. He is an independent non-executive Director on the Board for few companies and advisor to few organizations.
He plays an advisory role for Premjiinvest. He is also on the board of Azim Premji Foundation, a not-for-profit organization, with a vision of enhancing quality and equity in the public school education system in India, to build a better society.
In , he was recognized as a Young Global Leader by the World Economic Forum for his outstanding leadership, professional accomplishments, and commitment to society. Raghav Swaminathan CFO.
A Chartered Accountant by profession, he has over two decades of experience in global financial and business management in Manufacturing and IT sectors. He joined GE soon after his CA in and worked for nearly a decade. He is adept at developing global footprint, portfolio expansion, and cost optimization.
He has refined, standardized and simplified financial processes to drive business objectives effectively, consistently. Ayaskant is a regular speaker in many other Industry forums and also mentors a couple of start- ups in Human Resources.
Leadership Contact Us Geographies. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Manage consent. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website.
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All these except BRR are global standards. The report complies with financial and statutory data requirements of the Companies Act, including the Rules made thereunder, Accounting Standards , the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, and the Secretarial Standards.
Identifying and understanding stakeholders, their priorities and engaging with them is key to materiality determination. The report incorporates financial and non- financial information - governance, environmental and social - in a manner that can help stakeholders understand how a company creates and sustains value over the long term. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful.
A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over , dedicated employees serving clients across six continents.
Together, we discover ideas and connect the dots to build a better and a bold new future. We began our business as a vegetable oil manufacturer in at Amalner, a small town in Western India and thereafter, forayed into soaps and other consumer care products. During the early s, we entered the Indian IT industry by manufacturing and selling mini computers. In , we demerged the non-IT Diversified Businesses.
With a track record of nearly 30 years in IT Services, we are, today, focused entirely on the global Information Technology business. The Spirit of Wipro is the core of Wipro. These are our Values. It is about who we are. It is our character. It is reflected consistently in all our behavior.
The Spirit is deeply rooted in the unchanging essence of Wipro. It also embraces what we must aspire to be. The Spirit is a beacon.
It is what gives us direction and a clear sense of purpose. It energizes us and is the touchstone for all that we do. It is the indivisible synthesis of the four values. Be passionate about clients' success. We succeed when we make our clients successful.
We collaborate to sharpen our insights and amplify this success. We execute with excellence. We treat every human being with respect. We nurture an open environment where people are encouraged to learn, share and grow. We embrace diversity of thought, of cultures, and of people. We will be global in our thinking and our actions. We are responsible citizens of the world.
We are energized by the deep connectedness between people, ideas, communities and the environment. Integrity is our core and is the basis of everything. It is about following the law, but it's more. It is about delivering on our commitments. It is about honesty and fairness in action. It is about being ethical beyond any doubt, in the toughest of circumstances.
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