Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our clients, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, the benefits its customers experience and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
WIPRO LIMITED AND SUBSIDIARIES
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Rs in millions, except share and per share data, unless otherwise
stated)
As at March
31, 2024 As at September 30, 2024
------------- ------------------------
Convenience
translation
into US
dollar in
millions
(unaudited)
------------- --------- -------------
ASSETS
Goodwill 316,002 319,207 3,811
Intangible assets 32,748 28,195 336
Property, plant and
equipment 81,608 78,822 941
Right-of-Use assets 17,955 21,854 261
Financial assets
Derivative
assets 25 - -
Investments 21,629 31,385 375
Trade
receivables 4,045 587 7
Other
financial
assets 5,550 5,148 61
Investments
accounted for
using the equity
method 1,044 1,008 12
Deferred tax assets 1,817 1,922 23
Non-current tax
assets 9,043 7,782 93
Other non-current
assets 10,331 7,744 92
------------- --------- -------------
Total non-current assets 501,797 503,654 6,012
------------- --------- -------------
Inventories 907 1,052 13
Financial assets
Derivative
assets 1,333 651 8
Investments 311,171 407,309 4,863
Cash and cash
equivalents 96,953 104,592 1,249
Trade
receivables 115,477 112,655 1,345
Unbilled
receivables 58,345 64,776 773
Other
financial
assets 10,536 8,973 107
Contract assets 19,854 17,788 212
Current tax assets 6,484 6,086 73
Other current
assets 29,602 32,561 389
------------- --------- -------------
Total current assets 650,662 756,443 9,032
------------- --------- -------------
TOTAL ASSETS 1,152,459 1,260,097 15,044
------------- --------- -------------
EQUITY
Share capital 10,450 10,463 125
Share premium 3,291 6,000 72
Retained earnings 630,936 693,688 8,282
Share-based payment
reserve 6,384 6,315 75
Special Economic
Zone re-investment
reserve 42,129 41,497 495
Other components of
equity 56,693 60,380 721
------------- --------- -------------
Equity attributable to
the equity holders of
the Company 749,883 818,343 9,770
Non-controlling
interests 1,340 1,798 21
------------- --------- -------------
TOTAL EQUITY 751,223 820,141 9,791
------------- --------- -------------
LIABILITIES
Financial
liabilities
Loans and
borrowings 62,300 62,653 748
Lease
liabilities 13,962 18,965 226
Derivative
liabilities 4 1 ^
Other
financial
liabilities 4,985 5,862 70
Deferred tax
liabilities 17,467 16,625 198
Non-current tax
liabilities 37,090 40,122 479
Other non-current
liabilities 12,970 14,823 177
------------- --------- -------------
Total non-current
liabilities 148,778 159,051 1,898
------------- --------- -------------
Financial
liabilities
Loans,
borrowings
and bank
overdrafts 79,166 103,157 1,232
Lease
liabilities 9,221 8,047 96
Derivative
liabilities 558 1,064 13
Trade payables
and accrued
expenses 88,566 82,810 989
Other
financial
liabilities 2,272 2,976 36
Contract
liabilities 17,653 18,439 220
Current tax
liabilities 21,756 30,599 365
Other current
liabilities 31,295 32,004 382
Provisions 1,971 1,809 22
------------- --------- -------------
Total current
liabilities 252,458 280,905 3,355
------------- --------- -------------
TOTAL LIABILITIES 401,236 439,956 5,253
------------- --------- -------------
TOTAL EQUITY AND LIABILITIES 1,152,459 1,260,097 15,044
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