NAME ROLL NO COLLEGE SUBJECT

: ALI JAFFAR UNWALA : 17 : P.D.LIONS COLLEGE : FINANCIAL MANAGEMENT

WIPRO INDUSTRIES

SUBMITTED TO: POULOMI MAAM

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

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 (technologymedia-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 Founded Location

Public (NYSE: WIT) 1945 Bangalore, India

Key people Azim Premji, Chairman and Managing Director Industry Products Revenue Computer Services Computer hardware $1.2 billion USD (2004)

Employees ~50,000 (2005) Website www.wipro.com

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 m). 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 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. WCCLGs acquisition of the Chandrika in December 2003 has heralded Wipros 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 (technologymedia-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 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

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 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-oy 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 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.

Consolidated Financials Sales Other Income Operating Profit Operating Profit Margin (%) Net Profit Equity Capital EPS (Rs) 2004 5840 132 1271 22 1032 47 44 2005 8161 95 2052 25 1629 141 23 2006* 10367 70 2703 26 2162 141 31 indicated 2007* 13076 60 3462 27 2766 141 39 otherwise

*Projected Year ended 31st March Note: All figures in Rs crore unless All figures are rounded-off

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

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Fact Sheet 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.

11 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.

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