BSE SENSEX Constituent
CNX Nifty Constituent
|Industry||IT services, IT consulting|
29 December 1945|
|Founder||Mohamed Hasham Premji|
|Headquarters||Bangalore, Karnataka, India|
Azim Premji (Chairman)|
Abidali Neemuchwala (CEO)
|Services||Digital Strategy, Business Consulting and IT Services|
|Revenue||US$7.735 billion (2016)|
|US$1.463 billion (2016)|
|Profit||US$1.348 billion (2016)|
|Total assets||US$10.94 billion (2016)|
|Total equity||US$7.070 billion (2016)|
|Owner||Azim Premji (73%)|
Number of employees
|173,863 (June 2016)|
Wipro Limited (Western India Palm Refined Oils Limited or more recently, Western India Products Limited) is an Indian Information Technology Services corporation headquartered in Bangalore, India.
Early formative years
The company was incorporated on 29 December 1945, in Amalner a small town in Jalgaon district by Mohamed Premji as 'Western India Palm Refined Oil Limited', later abbreviated to 'Wipro'. It was initially set up as a manufacturer of vegetable and refined oils in Amalner, Maharashtra, India under the trade names of Kisan, Sunflower and Camel. The company logo still contains a sunflower to reflect products of the original business.
During the 1970s and 1980s, the company shifted its focus to new business opportunities in the IT and computing industry, which was at a nascent stage in India at the time. On 7 June 1977, the name of the company changed from Western India Vegetable Products Limited, to Wipro Products Limited.
The year 1980 marked the arrival of Wipro in the IT domain. In 1982, the name was changed from Wipro Products Limited to Wipro Limited. Meanwhile, Wipro continued to expand in the consumer products domain with the launch of "Ralak" a tulsi-based family soap and "Wipro Jasmine", a toilet soap.
In 1988, Wipro diversified its product line into heavy-duty industrial cylinders and mobile hydraulic cylinders. A joint venture company with the United States' General Electric in the name of Wipro GE Medical Systems Pvt. Ltd. was set up in 1989 for the manufacture, sales, and service of diagnostic and imaging products. Later, in 1991, tipping systems and Eaton hydraulic products were launched. The Wipro Fluid Power division, in 1992, developed expertise to offer standard hydraulic cylinders for construction equipment and truck tipping systems. The market saw the launch of the "Santoor" talcum powder and "Wipro Baby Soft" range of baby toiletries in 1990.
In 1995, Wipro set up an overseas design centre, Odyssey 21, for undertaking projects and product developments in advanced technologies for overseas clients. Wipro Infotech and Wipro Systems were amalgamated with Wipro in April that year. Five of Wipro's manufacturing and development facilities secured the ISO 9001 certification during 1994–95. In 1999, Wipro acquired Wipro Acer. Wipro became a more profitable, diversified corporation with new products such as the Wipro SuperGenius personal computers (PCs). In 1999, the product was the one Indian PC range to obtain US-based National Software Testing Laboratory (NSTL) certification for the Year 2000 (Y2K) compliance in hardware for all models.
Wipro Limited joined hands with a global telecom major KPN (Royal Dutch telecom) to form a joint venture company "Wipro Net Limited" to provide internet services in India. The year 2000 was the year Wipro launched solutions for convergent networks targeted at Internet and telecom solution providers in the names of Wipro OSS Smart and Wipro WAP Smart. In the same year, Wipro got listed on New York Stock Exchange. In early 2000 Wipro Vice Chairman Vivek Paul and Azim Premji approached KPMG Consulting Vice Chairman Keyur Patel and CEO Rand Blazer to form an mega-outsourcing joint venture between the two organizations..
In February 2002, Wipro became the first software technology and services company in India to be certified for ISO 14001 certification. Wipro also achieved ISO 9000 certification to become the first software company to get SEI CMM Level 5 in 2002. Wipro Consumer Care and Lighting Group entered the market of compact fluorescent lamps, with the launch of a range of CFL, under the brand name of Wipro Smartlite. As the company grew, a study revealed that Wipro was the fastest wealth creator for 5 years (1997–2002). The same year witnessed the launch of Wipro’s own laptops with Intel's Centrino mobile processor. Wipro also entered into an exclusive agreement with the owners of Chandrika for marketing of their soap in select states in India. It set up a wholly owned subsidiary company viz. Wipro Consumer Care Limited to manufacture consumer care and lighting products. In 2004 Wipro joined the billion dollar club. It also partnered with Intel for i-shiksha. The year 2006 saw Wipro acquire cMango Inc., a US-based technology infrastructure Consulting firm Enabler, and a Europe-based retail solutions provider. In 2007, Wipro signed a large deal with Lockheed Martin. It also entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS) and signed an R&D partnership contract with Nokia Siemens Networks in Germany.
In 2008 Wipro’s entered the clean energy business with Wipro Eco Energy. In April 2011, Wipro signed an agreement with Science Applications International Corporation (SAIC) for the acquisition of their global oil and gas information technology practice of the commercial business services business unit. In 2012 Wipro acquired Australian Trade Promotions Management firm Promax Applications Group (PAG) for $35 million. In 2012 Wipro employed more than 70,000 H-1B visa professional temporary workers in the United States.
In 2012 Wipro Ltd. announced the demerger of its consumer care, lighting, furniture, infrastructure Engineering (hydraulicsand water and medical diagnostic business into a separate company to be named Wipro Enterprises Ltd. The merger became effective from 31 March 2013. The demerged companies together contributed about 10% of the revenues of Wipro Limited in previous financial year.
In 2014, Wipro signed a 10-year $1.2 billion contract with ATCO, a Canadian Energy & Utilities corporation based out of Calgary, Alberta. This was the largest deal in Wipro's history.
Wipro Group of Companies
Wipro entered into the technology business in 1981 and has over 140,000 employees and clients across 54 countries. IT revenues were at $7.1 billion for the year ended 31 March 2015, with a repeat business ratio of over 95%.
Wipro Consumer Care & Lighting
Wipro Consumer Care and Lighting (WCCLG), a business unit of Wipro Limited operates in the FMCG segment dealing in consumable commodities. Established in 1945, its first product was vegetable oil, later sold under the brand name "Sunflower Vanaspati". It sells personal care products, such as Wipro Baby Soft and Wipro Safewash, toilet soaps Santoor and Chandrika as well as Yardley. It sells lighting products, including Smartlite CFL, LED, and emergency lights.
Wipro Infrastructure Engineering
Wipro Infrastructure Engineering is the hydraulics business division of Wipro Limited and has been in the business of manufacturing hydraulic cylinders, truck cylinders, and their components and solutions since 1976. This division delivers hydraulic cylinders to international OEMs and represents the Kawasaki, Sun Hydraulics and Teijin Seiki range of hydraulic products in India. It has entered into partnerships Kawasaki and aerospace giant EADS. In 2010 Wipro Infrastructure Engineering was the second largest independent manufacturer of hydraulic cylinders in the world.
Wipro GE Medical Systems
Wipro GE Medical Systems Limited is Wipro’s joint venture with GE Healthcare South Asia. It is engaged in the research and development of advanced solutions to cater to patient and customer needs in healthcare. This partnership, which began in 1990, today includes gadgets and equipment for diagnostics, healthcare IT solutions and services to help healthcare professionals combat cancer, heart disease, and other ailments. There is complete adherence to Six Sigma quality standards in all products.
Sustainability at Wipro
In November 2012 Guide to Greener Electronics, Greenpeace ranked Wipro first with a score of 7.1/10.
Listing and shareholding
Listing: Wipro's equity shares are listed on Bombay Stock Exchange where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India where it is a constituent of the S&P CNX Nifty. The American Depositary Shares of the company are listed at the NYSE since October 2000.
Shareholding: On 30 September 2013, 73.51% of the equity shares of the company were owned by the promoters: Azim Premji, his family members, partnership firms in which he is a partner and Trusts formed by him/his family. The remaining 26.49% shares are owned by others.
|Shareholders (as on 20-January-2016)||Shareholding|
|Promoter group led by Azim Premji||73.36%|
|Foreign Institutional Investors (FII)||10.68%|
|American Depositary Shares||02.30%|
Awards and recognitions
- In May 2016,it was ranked 755th on the Forbes Global 2000 list.
- Wipro was ranked 2nd in the Newsweek 2012 Global 500 Green companies.
- Wipro received the 'NASSCOM Corporate Award for Excellence in Diversity and Inclusion, 2012', in the category 'Most Effective Implementation of Practices & Technology for Persons with Disabilities'.
- In 2012, it was awarded the highest rating of Stakeholder Value and Corporate Rating 1 (SVG 1) by ICRA Limited.
- It received National award for excellence in Corporate Governance from the Institute of Company Secretaries of India during the year 2004.
- In 2014, Wipro was ranked 52nd among India's most trusted brands according to the Brand Trust Report, a study conducted by Trust Research Advisory.
- In March 2015, Wipro has been recognized as the world’s most ethical company by US-based Ethisphere Institute for the fourth consecutive year.
- Wipro won Gold Award for ‘Integrated Security Assurance Service (iSAS)’ under the ‘Vulnerability Assessment, Remediation and Management’ category of the 11th Annual 2015 Info Security PG’s Global Excellence Awards.
- Wipro won 7 awards, including Best Managed IT Services and Best System Integrator in the CIO Choice Awards 2015, India
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- "Wipro to set up consumer care unit in Himachal". Business Standards.
- "Wipro and Intel launch 'I-Shiksha' solution". The Economic Times.
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- "Wipro buys US-based cMango for $20M". Business Line.
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- "Lockheed Martin, Wipro To Light Ambar Jyoti in India". EFYTimes.
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- "Wipro to manage R&D for Nokia Siemens". Reuters.
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- "India's Wipro to buy SAIC energy tech biz for $150 mln". Reuter.
- "Wipro to acquire Australia's Promax Applications Group for Rs 192 crore". The Economic Times.
- "Wipro to buy analytics firm Promax for $36 mn". Business Standard.
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- "Wipro buys Canadian firm Atco I-Tek for $195 million". The Times of India. 18 July 2014.
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- "Wipro's Santoor is largest soap brand in South India". The Economic Times.
- "Wipro FMCG arm reports 26% rise in revenues on strong demand". The Financial Express.
- "Yardley's proof of Wipro's FMCG focus". The Economic Times.
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- "Wipro, Kawasaki in talks for hydraulic oil pumps". Business Line. Archived from the original on 5 November 2013.
- "Wipro, Kawasaki enter into a joint venture". CIOL. Archived from the original on 7 October 2012.
- "Wipro Infrastructure Engineering to set up Rs 50 cr plant in Bangalore". The Economic Times.
- "Wipro Infrastructure Engineering ties up with EADS arm". The Economic Times.
- "Pumping up the world". Made in India.
- "Wipro GE to consolidate healthcare biz". Business Standard.
- "About Wipro GE Healthcare". GE Healthcare.
- "Six Sigma has worked wonders for Wipro GE". The Financial Express.
- "Six Sigma has worked wonders for Wipro GE". The Financial Express.
- "Wipro continues to lead in sustainability disclosures". Business Standard.
- "Nasdaq-100 includes Wipro in Global Sustainability Index". Business Line.
- "Wipro Named Among World's Most Ethical Companies". EFYTimes.
- "Guide to Greener Electronics 18 | WIPRO". Greenpeace. November 2012.
- "Scripwise Weightages in S&P BSE SENSEX". BSE India. Retrieved 16 November 2013.
- "Download List of CNX Nifty stocks (.csv)". NSE India. Retrieved 16 November 2013.
- "Form 20F". SEC.gov. 12 June 2013. Retrieved 17 November 2013.
- "Top five takeaways from Wipro Q3 earnings". timesofindia-economictimes. Retrieved 2016-02-25.
- "Wipro names Abid Ali Neemuchwala as CEO". The Hindu. 2016-01-04. ISSN 0971-751X. Retrieved 2016-05-22.
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- "Wipro in highest category of stakeholder value creation: Icra". Economic Times. 10 February 2004. Retrieved 16 November 2013.
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- "Wipro won 7 awards, including Best Managed IT Services and Best System Integrator in the CIO Choice Awards 2015, India'".
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