Company Overview
Wipro Limited (NYSE: WIT) is a multinational information technology (IT), consulting, and business process services firm headquartered in India. IT Services, IT Products, and India State Run Enterprise are the three segments in which the company works (ISRE). The IT Services segment offers a variety of IT and IT-enabled services, such as e-business strategy, customer-centric design, technology consulting, IT consulting, custom application design, development, re-engineering, and maintenance, systems integration and package implementation, and global infrastructure services. Them Products offers a variety of third-party IT products, allowing it to provide IT system integration services. IT services offered to enterprises owned or controlled by the Government of India and/or Indian state governments make up the ISRE segment.
WIT Details
Key financial takeaways from year ending 31st March 2022
Recent Developments
Other key highlights from Q4 FY22 Financial results
Balance Sheet & Liquidity Position
Top 10 shareholders
Wipro has a very diluted share holding with the top 10 shareholders together form around 1.11% of the total shareholding, while the top 4 constitute the half of it. The Vanguard Group, Inc and State Street Global Advisors hold the maximum stake in the company at 0.23% and 0.19%, respectively, as also highlighted in the chart below:
Top 10 Shareholders; Source: REFINITIV, Analysis by Kalkine Group
Key Risks
Q1 FY23 Outlook
Wipro expects revenue growth for the upcoming quarter of 2% to 4%, which will translate into year-on-year growth of 27% to 30% in constant currency. The company expects revenue from its IT services business in the range of USD 2.75 billion to USD 2.8 billion, which translates into a sequential growth of 1% to 3% quarter on quarter. This whole outlook is based on fixed exchange rates throughout the countries of operations.
Valuation Methodology: Price to Cash Flow Per Share-based Relative Valuation
1 USD = 77.58 INR (Source: Analysis by Kalkine Group)
*% Premium/(Discount) is based on our assessment of the company's FY1 trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
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