olivLaw · US equity research
Wipro Limited WIT
Services-Computer Programming Services · SIC 7371 · Vertical: Services-Computer Programming Services (SIC 7371)
Wipro is a global technology services and consulting firm focused on AI and digital transformation for its clients, with over 240,000 employees and business partners. Revenue rose 4.17 percent in fiscal 2026, showing steady traction in a cautious spending environment.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Wipro Limited (WIT) stock was 2.16 USD (+0.47% on the day), with market capitalisation 22.7 bn USD, P/E 15.4 on diluted EPS of 0.14 USD over the last 12 months, dividend yield 3.24%, beta 0.62, 52-week range 1.61–3.06 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 68.9
- strong (55–70)
- Bollinger (20, 2)
- 1.65 – 2.33
- in the upper half of the band · %B 0.75 · band width 34.4%
- SMA 50 / 200
- 1.83 / 2.08
- mixed trend
- MACD (12, 26, 9)
- 0.10 / 0.09
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +27.8% | −1.1% | +28.9 pp | — |
| 3 months | +8.0% | −0.5% | +8.5 pp | — |
| 6 months | +8.0% | +4.4% | +3.6 pp | — |
| Year to date | −23.9% | +12.3% | −36.3 pp | — |
| 1 year | −16.3% | +13.5% | −29.8 pp | −42.9% |
| 3 years | −6.5% | +76.4% | −82.9 pp | −43.3% |
| 5 years | −51.8% | +63.7% | −115.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 88 percentile of its own 8-quarter history (min 7.0, median 10.7, max 21.9; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.4 bn | 8.5 bn | 8.1 bn | 8.5 bn | 10.4 bn | 11.0 bn | 10.8 bn | 10.4 bn |
| Revenue YoY | unavailable | +1.2% | −4.5% | +4.6% | +23.1% | +5.6% | −2.2% | −3.2% |
| Net income | 1.2 bn | 1.3 bn | 1.3 bn | 1.5 bn | 1.6 bn | 1.4 bn | 1.3 bn | 1.5 bn |
| Net income YoY | unavailable | +5.7% | −0.9% | +14.6% | +9.1% | −14.2% | −4.1% | +16.0% |
| Diluted EPS | 0.26 | 0.22 | 0.22 | 0.26 | 0.29 | 0.25 | 0.25 | 0.14 |
| Diluted EPS YoY | unavailable | −15.4% | 0.0% | +18.2% | +11.5% | −13.8% | 0.0% | −44.0% |
| net % | 14.7% | 15.3% | 15.9% | 17.4% | 15.4% | 12.5% | 12.3% | 14.7% |
| Free cash flow | 957.0 m | 1.4 bn | 1.0 bn | 1.8 bn | 1.2 bn | 1.4 bn | 2.0 bn | 1.8 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Mar 2025
- Cash
- 1.4 bn USD
- Financial debt
- 749.0 m USD
- Net debt
- -679.0 m USD
- Equity
- 9.7 bn USD
- Total assets
- 15.1 bn USD
- Debt / equity
- 0.08x
- Current ratio
- 2.72x
- ROE
- 16.4%
- ROA
- 10.6%
- FCF margin
- 17.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.1 bn | 8.5 bn | 10.4 bn | 11.0 bn | 10.8 bn | 10.4 bn | SEC (XBRL)· 22 May 2025verified |
| Cost of revenue | 5.8 bn | 5.8 bn | 7.3 bn | 7.9 bn | 7.6 bn | 7.2 bn | SEC (XBRL)· 22 May 2025verified |
| Gross profit | 2.3 bn | 2.7 bn | 3.1 bn | 3.2 bn | 3.2 bn | 3.2 bn | SEC (XBRL)· 22 May 2025verified |
| Operating income | 1.4 bn | 1.7 bn | 1.8 bn | 1.7 bn | 1.6 bn | 1.8 bn | SEC (XBRL)· 22 May 2025verified |
| Depreciation & amortisation | 20.9 bn | 27.7 bn | 30.9 bn | 33.4 bn | 34.1 bn | 29.6 bn | SEC (XBRL)· 22 May 2025verified |
| EBITDA | 22.3 bn ≈ | 29.3 bn ≈ | 32.8 bn ≈ | 35.1 bn ≈ | 35.7 bn ≈ | 31.4 bn ≈ | SEC (XBRL)· 22 May 2025derived |
| Interest expense | 97.0 m | 70.0 m | 70.0 m | 123.0 m | 151.0 m | 173.0 m | SEC (XBRL)· 22 May 2025verified |
| Pre-tax income | 1.6 bn | 1.9 bn | 2.0 bn | 1.8 bn | 1.8 bn | 2.0 bn | SEC (XBRL)· 22 May 2025verified |
| Income tax | 329.0 m | 415.0 m | 382.0 m | 414.0 m | 433.0 m | 501.0 m | SEC (XBRL)· 22 May 2025verified |
| Net income | 1.3 bn | 1.5 bn | 1.6 bn | 1.4 bn | 1.3 bn | 1.5 bn | SEC (XBRL)· 22 May 2025verified |
| Diluted EPS | 0.22 | 0.26 | 0.29 | 0.25 | 0.25 | 0.14 | SEC (XBRL)· 22 May 2025verified |
| Weighted average diluted shares | 5.8 bn | 5.7 bn | 5.5 bn | 11.0 bn | 10.6 bn | 10.5 bn | SEC (XBRL)· 22 May 2025verified |
| Dividend per share | 0.02 | 0.01 | 0.01 | 0.07 | 0.01 | 0.07 | SEC (XBRL)· 22 May 2025derived |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.9 bn | 2.3 bn | 1.4 bn | 1.1 bn | 1.2 bn | 1.4 bn | SEC (XBRL)· 22 May 2025verified |
| Inventories | 25.0 m | 15.0 m | 18.0 m | 14.0 m | 11.0 m | 8.0 m | SEC (XBRL)· 22 May 2025verified |
| Current assets | 6.9 bn | 7.2 bn | 8.2 bn | 8.0 bn | 7.8 bn | 9.1 bn | SEC (XBRL)· 22 May 2025verified |
| Property, plant & equipment, net | 1.1 bn | 1.2 bn | 1.2 bn | 1.1 bn | 979.0 m | 944.0 m | SEC (XBRL)· 22 May 2025verified |
| Goodwill | 1.7 bn | 1.9 bn | 3.3 bn | 3.7 bn | 3.8 bn | 3.8 bn | SEC (XBRL)· 22 May 2025verified |
| Intangibles (excl. goodwill) | 217.0 m | 179.0 m | 574.0 m | 524.0 m | 393.0 m | 321.0 m | SEC (XBRL)· 22 May 2025verified |
| Total assets | 10.8 bn | 11.4 bn | 14.2 bn | 14.3 bn | 13.8 bn | 15.1 bn | SEC (XBRL)· 22 May 2025verified |
| Accounts payable | 1.0 bn | 1.1 bn | 1.3 bn | 1.1 bn | 1.1 bn | 1.0 bn | SEC (XBRL)· 22 May 2025verified |
| Short-term debt | 19.2 bn | 15.5 bn | 87.0 m | 57.0 m | 0 | 0 | SEC (XBRL)· 22 May 2025verified |
| Long-term debt | 64.0 m | 102.0 m | 744.0 m | 745.0 m | 748.0 m | 749.0 m | SEC (XBRL)· 22 May 2025verified |
| Current liabilities | 2.9 bn | 3.1 bn | 4.1 bn | 3.3 bn | 3.0 bn | 3.4 bn | SEC (XBRL)· 22 May 2025verified |
| Total liabilities | 3.4 bn | 3.8 bn | 5.5 bn | 4.8 bn | 4.8 bn | 5.3 bn | SEC (XBRL)· 22 May 2025verified |
| Equity | 7.4 bn | 7.6 bn | 8.7 bn | 9.5 bn | 9.0 bn | 9.7 bn | SEC (XBRL)· 22 May 2025verified |
| Shares outstanding at year end | 5.7 bn | 5.5 bn | 5.5 bn | 5.5 bn | 5.2 bn | 10.5 bn | SEC (XBRL)· 22 May 2025verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.3 bn | 2.0 bn | 1.5 bn | 1.6 bn | 2.1 bn | 2.0 bn | SEC (XBRL)· 22 May 2025verified |
| Capex | 312.0 m | 268.0 m | 266.0 m | 180.0 m | 126.0 m | 173.0 m | SEC (XBRL)· 22 May 2025verified |
| Free cash flow | 1.0 bn ≈ | 1.8 bn ≈ | 1.2 bn ≈ | 1.4 bn ≈ | 2.0 bn ≈ | 1.8 bn ≈ | SEC (XBRL)· 22 May 2025derived |
| Investing cash flow | 450.0 m | 105.0 m | -3.0 bn | -1.0 bn | 140.0 m | -945.0 m | SEC (XBRL)· 22 May 2025verified |
| Financing cash flow | -2.0 bn | -1.8 bn | 614.0 m | -741.0 m | -2.2 bn | -749.0 m | SEC (XBRL)· 22 May 2025verified |
| Dividends paid | 91.0 m | 75.0 m | 72.0 m | 399.0 m | 63.0 m | 734.0 m | SEC (XBRL)· 22 May 2025verified |
| Share repurchases | 1.4 bn | 1.3 bn | 0 | 0 | 1.7 bn | 0 | SEC (XBRL)· 22 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 50 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 22.7 bn USD
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
- Valuation65
- Returns87
- Quality45
- Balance sheet83
- Growth14
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.38 – 26.11 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)2.30 – 3.48 (Mid 2.76)WACC 9.1% · starting FCFF 1.9 bn USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -10.3%
- Peers: EV/Sales0.38 – 1.12 (Mid 0.62)8 companies used · median multiple 0.6x · quartiles 0.3x – 1.1xCINT, CTSH, DOX, EPAM, FORTY, MWC, RDNW, XTIA
- Peers: EV/EBITDA9.12 – 26.11 (Mid 16.46)6 companies used · median multiple 5.5x · quartiles 3.0x – 8.7xCINT, CTSH, EPAM, IA, MWC, RDNW
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 50/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 30.7% | 0 (on a fixed band) | 11% |
| EBIT margin · Quality | 17.0% | 77 (vs peers) | 9% |
| FCF margin · Quality | 17.4% | 69 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 0.0% | 0 (on a fixed band) | 17% |
| Revenue growth (YoY) · Growth | -3.2% | 42 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | -0.0x | 67 (vs peers) | 6% |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 6% |
| EV/Sales · Valuation | 2.1x | 38 (vs peers) | 17% |
| FCF yield · Valuation | 8.0% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.2% | 87 (on a fixed band) | 4% |
Score groups
- Balance sheet83/100 · 2/2 factors with a value
- Growth14/100 · 2/2 factors with a value
- Quality45/100 · 3/3 factors with a value
- Returns87/100 · 1/1 factors with a value
- Valuation65/100 · 2/2 factors with a value
Memo
WIPRO LIMITED (WIT). Latest full fiscal year: 2025; data up to 2025-03-31.
Figures computed from the financial statements: revenue 10.4 bn USD in 2025; YoY growth -3.2%; net margin 14.7%; ROE 16.4%; net debt/EBITDA -0.0x.
The estimated value range is 2.30–3.48 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 2.76 USD, the price of 2.16 USD leaves a potential of 27.7% (value / price − 1) and a margin of safety of 21.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 50/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EBIT margin: 17.0%
- Current ratio: 2.7x
- FCF yield: 8.0%
- Shareholder yield (distributions): 3.2%
- The price is below the estimated value range
What contradicts it
- Gross margin: 30.7%
- Revenue CAGR 3Y: 0.0%
- The valuation methods diverge
Versus the vertical median
Services-Computer Programming Services (SIC 7371) · same industry (4-digit SIC) · compared with 32 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| INFYInfosys Limited | 49.6 bn | 16.1 | 29.0% | 16.4% | +3.9% | −30% / −30% |
| ZSZscaler Inc | 36.6 bn | — | -2.9% | -1.9% | +25.4% | −11% / +14% |
| CTSHCognizant Technology Solutions Corporation | 29.4 bn | 12.0 | 17.4% | 11.8% | +7.0% | −15% / −7% |
| VRSNVerisign Inc | 28.5 bn | 33.6 | — | 49.1% | +6.4% | +26% / +50% |
| WITWipro Limited | 22.7 bn | 15.4 | 16.4% | 14.7% | −3.2% | −16% / −6% |
| EPAMEpam Systems, Inc. | 7.1 bn | 18.6 | 11.2% | 7.2% | +15.4% | −27% / −47% |
| DOCSDoximity, Inc. | 6.2 bn | 40.9 | 17.2% | 25.5% | +13.1% | −33% / +49% |
| DOXAmdocs Limited | 4.9 bn | 10.3 | 14.1% | 9.9% | +2.4% | −43% / −48% |
| RGTIRigetti Computing, Inc. | 3.7 bn | — | -43.8% | -1,787.4% | −34.3% | −56% / +958% |
| FORTYFormula Systems (1985) Ltd. | 1.8 bn | 23.4 | 12.2% | 2.9% | +5.2% | −20% / +96% |
| MGRTMega Fortune Co Ltd | 1.6 bn | 698.9 | 21.1% | 16.1% | +233.3% | +1,864% / unavailable |
| PERIPerion Network Ltd. | 446.8 m | — | -1.1% | -1.8% | −11.7% | +12% / −59% |
| MFImF International Limited | 367.8 m | 36.4 | 3.9% | 232.8% | +29.4% | −68% / unavailable |
| IAInnovative Solutions And Support, Inc. | 353.7 m | 18.8 | 28.5% | 20.5% | +78.6% | +103% / +167% |
| GDEVGDEV Inc. | 176.1 m | 2.6 | — | 17.1% | −3.9% | −44% / −57% |
| ATGLAlpha Technology Group Ltd | 146.5 m | — | -184.7% | -952.0% | −40.2% | −61% / −39% |
| MLGOMicroAlgo Inc. | 135.7 m | 1.2 | 7.6% | 30.2% | −20.3% | −61% / −100% |
| MWCMicware Co., Ltd. | 82.0 m | 8.1 | 20.0% | 7.3% | unavailable | unavailable / unavailable |
| PDCPerpetuals.com Ltd | 74.9 m | — | -75.8% | -1,069.9% | −47.0% | −61% / −13% |
| CINTCI&T Inc | 73.8 m | 10.3 | 13.8% | 8.3% | +11.5% | −31% / −40% |
| CYCUCycurion, Inc. | 65.1 m | — | -76.7% | -98.0% | −14.8% | −91% / unavailable |
| XTIAXti Aerospace, Inc. | 37.7 m | — | — | -89.6% | +602.4% | −40% / −100% |
| MNDOMind Cti Ltd | 18.3 m | 6.9 | 11.0% | 13.4% | −9.3% | −24% / −53% |
| CHGAChange Agents Corporation | 17.8 m | — | -606.9% | -643.1% | +6.2% | −97% / −99% |
| RDNWRideNow Group, Inc. | 11.7 m | — | — | -0.8% | −10.5% | +7% / −9% |
1- and 3-year price returns: for WIT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.28 Total return -38% · Per year -38% | 2.26 Total return 8% · Per year 8% | 3.41 Total return 62% · Per year 62% |
| 3 years | 1.13 Total return -40% · Per year -16% | 2.26 Total return 15% · Per year 5% | 3.76 Total return 87% · Per year 23% |
| 5 years | 1.00 Total return -42% · Per year -10% | 2.26 Total return 22% · Per year 4% | 4.15 Total return 115% · Per year 17% |
- Exit P/E± 0.57
- Net margin± 0.40
- Annual revenue growth± 0.34
- Annual dilution± 0.03
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 02 Jun 2026; since then the company filed 6-K (20 Oct 2026), 6-K (22 Jul 2026), 6-K (20 Jul 2026), 6-K (02 Jul 2026).
In brief
Wipro is a global technology services and consulting firm focused on AI and digital transformation for its clients, with over 240,000 employees and business partners. Revenue rose 4.17 percent in fiscal 2026, showing steady traction in a cautious spending environment 1.
SWOT
Strengths
- The company has a broad global presence and a portfolio of IT services, consulting and AI platforms, supported by partnerships with major technology providers.
- Wipro has a diversified client base and a substantial number of large contracts, which gives some visibility on future revenue.
- Investments in acquisitions and proprietary platforms allow the company to offer integrated and outcome-based solutions.
Weaknesses
- Operating margins declined compared with the prior year, and revenue growth in constant currency remained modest.
- The IT Products segment is volatile and subject to pricing pressure, which can affect result stability.
- Integrating acquisitions and the cost of scarce AI talent could temporarily weigh on margins.
Opportunities
- Demand for AI, data and systems modernization could expand large projects and outcome-based services.
- Expansion in prioritized sectors and profitable markets could strengthen the company's position with large clients.
- The share buyback program and distribution policy could support shareholder value in the period ahead.
Threats
- Intense competition and AI-driven productivity expectations could pressure prices and revenue in new contracts.
- Geopolitical uncertainty and trade tensions may delay or reduce clients' discretionary spending.
- Fluctuations in the Indian rupee exchange rate could affect reported revenue and margins.
Risks
- Margin pressurehigh
Salary increases, investments in talent and acquisition integration could reduce operating margin if prices do not rise enough.
- Lower discretionary spendinghigh
Clients may postpone large projects or cut budgets, which could slow revenue growth and reduce resource utilization.
- Competition and pricing pressuremedium
Competition and AI-driven productivity demands could lower prices in new contracts and affect the existing revenue base.
- Currency exposuremedium
Fluctuations of the Indian rupee against other currencies could influence reported revenue and margins.
- Vendor consolidationmedium
Clients may reduce the number of providers or insource work, which could shrink service volumes for the company.
Investment thesis
What would need to be true (bull case)
- If demand for AI and modernization accelerates, the company could convert more large contracts into recurring revenue, supported by a consolidated portfolio.
- Growth in large deal bookings points to commercial traction that could support revenue in the coming years.
- The revised policy of returning capital to shareholders could support value for investors over the medium term.
What would break the thesis
- If pricing pressure and talent costs persist, margins could remain below earlier levels even as revenue grows.
- Constant-currency revenue in IT Services declined in fiscal 2026, which could signal weaker demand in some areas.
- Reliance on large contracts and clients' discretionary spending could make revenue more volatile in uncertain periods.
What to watch
- Trend in IT Services operating marginQ1 2027
- Large deal bookings and completion of the Alpha Net Consulting acquisition2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 02 Jun 2026; since then the company filed 6-K (20 Oct 2026), 6-K (22 Jul 2026), 6-K (20 Jul 2026), 6-K (02 Jul 2026).
The business
The company serves clients in 65 countries through varied commercial models, from time and material to fixed-price and outcome-based arrangements. Its strategy rests on five priorities, including building large accounts in profitable markets and winning large deals with a consulting-led, AI-powered approach 1.
Segments
IT Services
The IT Services segment provides AI advisory, consulting, application development, infrastructure, cybersecurity and business process services. Segment revenue rose 3.71 percent in fiscal 2026, and operating profit was 17.22 percent of segment revenue 1. The segment is organized into four strategic market units: Americas 1, Americas 2, Europe and APMEA.
IT Products
The IT Products segment supplies third-party products such as computing platforms, networking solutions and software, as a complement to IT services. The company says it is focusing more on consulting and digital engagements and taking a more selective approach to system integration, and this segment's results have varied significantly in the past 1.
Market context
According to the NASSCOM report cited by the company, global IT services spending grew 4.6 percent in calendar 2025 and is expected to accelerate to 4.2 percent in 2026, driven by AI investments. Indian IT services revenue is expected to grow 4.1 percent in fiscal 2026, while the Indian IT hardware segment could reach 21 billion USD 1.
Demand remains measured, with clients prioritizing cost discipline, vendor consolidation and measurable outcomes, which may lengthen decision cycles. Competitive pricing pressure and AI-driven productivity expectations could affect future revenue realization 1.
Trends
- AI as a growth drivertailwind
Clients are moving from pilots to scaled AI adoption, and firms with sector expertise and specialized talent could benefit. The company aims to become an AI-first organization.
- Caution in discretionary spendingheadwind
Enterprises are prioritizing cost discipline and productivity, which can slow decisions and reduce the value of new contracts, especially under uncertain geopolitical conditions.
- Regulation and cybersecuritytailwind
Regulatory requirements and cyber risk are raising demand for governance, data protection and security, areas where the company has dedicated offerings.
- Pricing and competitive pressuremixed
Intense competition and client productivity expectations, intensified by AI, could limit price increases and compress margins if costs rise.
Competitive position
Wipro operates in a competitive IT services market where competition is intensifying with AI, and clients increasingly demand productivity and measurable outcomes. The company notes that pricing pressure can affect margins, especially in new contracts.
The company names hyperscalers and platform providers as strategic partners, including Amazon Web Services, Microsoft, Google, IBM, SAP, ServiceNow and NVIDIA. These relationships can be an advantage but also a source of technology dependence 1.
- InfosysINFY
Another large Indian IT services provider, named in the competitive landscape Wipro operates in, particularly in digital services and consulting.
- Tata Consultancy Services
A major Indian IT services provider competing for large contracts and digital transformation work.
- HCLTech
An Indian IT and engineering services provider competing in the same markets, especially infrastructure and transformation services.
- AccentureACN
A global consulting and IT services firm, a direct competitor for large contracts and AI-based projects.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Tata Sons reviews AoA to meet Sebi listing normsSurge — GDELT DOC · 19 Oct 2026 · RO
- US stocks : US market ends down sharply ; worries about AI trade and high oil prices weighSurge — GDELT DOC · 16 Oct 2026 · RO
- Global Market : Japanese investors extend foreign bond selling streak to four weeksSurge — GDELT DOC · 16 Oct 2026 · RO
- India's Wipro beats second-quarter revenue expectations, deal bookings dropCNA (Channel NewsAsia) · 15 Oct 2026 · EN
- Indian IT Companies Are in Trump’s CrosshairsThe Diplomat (Asia geopolitics) · 13 Oct 2026 · EN
- Fosta divizie de IT a Metro, cumpărată de indienii de la Wipro, a ajuns în 2025 la afaceri de 75,1 mil. lei, cele mai mici din ultimii 14 aniZiarul Financiar · 09 Oct 2026 · RO
- Administrația Trump restricționează accesul Microsoft la Green Card-uri pentru angajați: JD Vance acuză compania de abuzuri - Jurnal.mdSurge — Google News · 09 Oct 2026 · RO
- Trump administration is suspending Microsoft from a green card programCGTN — World · 09 Oct 2026 · EN
- SUA a suspendat programul de rezidență permanentă pentru Microsoft și alte câteva companii de tehnologie. - Vietnam.vnSurge — Google News · 09 Oct 2026 · RO
- India’s tech giants shrug off changes to USA’s skilled visa programThe Register · 09 Oct 2026 · EN
- US Targets Indian IT Companies in Crackdown on Alleged Visa AbuseBloomberg Markets · 09 Oct 2026 · EN
- US freezes green cards for Microsoft, IT firms, probes universitiesCGTN — World · 09 Oct 2026 · EN
- SUA restricționează recrutarea specialiștilor străini: Microsoft și alte companii IT, vizate de JD Vance - Forbes RomaniaSurge — Google News · 09 Oct 2026 · RO
- Administrația Trump suspendă cererile de rezidență permanentă pentru Microsoft, Adobe și alte companii IT - www.goldring.roSurge — Google News · 08 Oct 2026 · RO
- SUA suspendă Microsoft și alte șapte companii tehnologice din programul de sponsorizare pentru Green Card - www.goldring.roSurge — Google News · 08 Oct 2026 · RO
- Cognizant, Infosys, Tata, Wipro and HCL among IT firms suspended from U.S. green card programmeThe Hindu — International · 08 Oct 2026 · EN
- Trump's foreign worker crackdown comes for Microsoft, Adobe, IT firmsAxios · 08 Oct 2026 · EN
- Wipro's AI push frees capacity equivalent to 20,000 workers, CTO saysCNA (Channel NewsAsia) · 10 Sept 2026 · EN
- ABB renews Wipro contract for global digital workplace servicesYahoo Finance — News · 02 Sept 2026 · EN
- Wipro’s Nifty Exit Reflects Waning Clout of Indian IT GiantsBloomberg Markets · 11 Aug 2026 · EN
The latest news item in our archive is from 19 Oct 2026; the newest SEC filing is from 20 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (foreign issuer)20 Oct 2026
- Current report (foreign issuer)20 Oct 2026
- Current report (foreign issuer)22 Jul 2026
- Current report (foreign issuer)20 Jul 2026
- Current report (foreign issuer)20 Jul 2026
- Current report (foreign issuer)02 Jul 2026
- Current report (foreign issuer)26 Jun 2026
- Current report (foreign issuer)25 Jun 2026
- Current report (foreign issuer)25 Jun 2026
- Current report (foreign issuer)25 Jun 2026
Sources
- [1] Form 20-F, fiscal year ended 2026-03-31 · SEC / Wipro Limited · 02 Jun 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.