UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of January 2015
Commission File Number 001-16139
Wipro Limited
(Exact name of Registrant as specified in its charter)
Not Applicable
(Translation of Registrants name into English)
Karnataka, India
(Jurisdiction of incorporation or organization)
Doddakannelli
Sarjapur
Road
Bangalore, Karnataka 560035, India +91-80-2844-0011
(Address of principal executive offices)
Indicate by
check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F:
Form 20-F x
Form 40-F ¨
Indicate by check mark if the registrant is submitting
the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No
x
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper
of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No
x
Note: Regulation S-T Rule 101(b)(7) only permits the submission
in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally
organized (the registrants home country), or under the rules of the home country exchange on which the registrants securities are traded, as long as the report or other document is not a press release, is not required to be
and has not been distributed to the registrants security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
DISCLOSURE OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION
We hereby furnish the Commission with copies of the following information concerning our public disclosures regarding our results of
operations for three and nine months ended December 31, 2014. The following information shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
On January 16, 2015, we announced our results of operations for the three and nine months ended December 31, 2014. We issued a press
release announcing our results under IFRS, a copy of which is attached to this Form 6-K as Item 99.1.
On January 16, 2015, we
held a press conference to announce our results. The presentation made by the registrant at the press conference is attached to this Form 6-K as Item 99.2.
We placed advertisements in certain Indian newspapers concerning our results of operations for three and nine months ended December 31,
2014 under IFRS. A copy of the form of this advertisement is attached to this Form 6-K as Item 99.3.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly organized.
|
WIPRO LIMITED |
|
/s/ Suresh C. Senapaty |
|
Suresh C. Senapaty |
Chief Financial Officer & Director |
Dated: January 20, 2015
INDEX TO EXHIBITS
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Item |
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99.1. |
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IFRS Press Release |
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99.2. |
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Presentation made by the Company at the Press Conference on January 16, 2015 |
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99.3. |
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Form of Advertisement Placed in Indian Newspapers |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Results for the quarter ended December 31, 2014 under IFRS
IT Services Revenue grew 3.7% sequentially in constant currency
Net Income for the quarter grew 9% YoY
Bangalore, India and East Brunswick, New Jersey, USA January 16, 2015 Wipro Limited (NYSE:WIT) today announced financial
results under International Financial Reporting Standards (IFRS) for its third quarter ended December 31, 2014.
Highlights of the Results for
the Quarter ended December 31, 2014:
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Total Revenues were
119.9 billion ($1.9 billion1), an increase of 6% YoY. |
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Net Income2 was
21.9 billion ($348 million1), an increase of 9% YoY. |
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Non-GAAP constant currency IT Services Revenue in dollar terms grew 3.7% to $1,836.2 million, within our guidance range of $1,808 million to $1,842 million. |
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IT Services Revenue was $1,795.4 million, a sequential increase of 1.3% and YoY increase of 7.0%. |
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IT Services Margins was 21.8%. |
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Wipro declared an interim dividend of
5 ($0.081) per share /ADS. |
Performance for the
quarter ended December 31, 2014
Azim Premji, Chairman of Wipro, said, Developments in the Global currency and commodity
markets are affecting major economies unevenly even as India anticipates growth led by next-generation of economic reforms.
T K Kurien,
Executive Director & Chief Executive Officer of Wipro, said, We had a very satisfying quarter in terms of sequential revenue growth. We continue to see strong deal momentum as we are seen as the partner of choice for
customers seeking to differentiate by using digital technologies as well as save costs in the traditional business.
Suresh Senapaty, Executive
Director & Chief Financial Officer of Wipro, said During the quarter, we saw all round growth led by growth in our Healthcare & Life Sciences business and Global Infrastructure Services. The share of fixed price
contracts increased to over 55% of engagements a reflection of the maturity of Wipros customer engagement model.
1. |
For the convenience of the reader, the amounts in Indian rupees in this release have been translated into United States dollars at the noon buying rate in New York City on December 31, 2014, for cable transfers in
Indian rupees, as certified by the Federal Reserve Board of New York, which was US $1=
63.04. However, the realized exchange rate in our IT Services business segment for the quarter ended December 31, 2014 was US$1=
63.19 |
2. |
Refers to Profit for the period attributable to equity holders of the company |
Outlook for the Quarter ending March 31, 2015
We expect Revenues from our IT Services business to be in the range of $ 1,814 million to $ 1,850 million*.
* |
Guidance is based on the following exchange rates: GBP/USD at 1.56, Euro/USD at 1.23, AUD/USD at 0.84, USD/INR at 62.90 and USD/CAD at 1.15 |
IT Services
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IT Services Segment Revenues in Rupee terms was
113.4 billion ($1.8 billion1), an increase of 10% YoY. |
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IT Services Segment Result was
24.7 billion ($392 million1), an increase of 4% YoY. |
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Non-GAAP constant currency IT Services Revenue in dollar terms grew 3.7% to $1,836.2 million, within our guidance range of $1,808 million to $1,842 million. |
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IT Services Revenue was $1,795.4 million, a sequential increase of 1.3% and YoY increase of 7.0%. |
The IT
Services segment had a headcount of 156,866 as of December 31, 2014. We added 44 new customers during the quarter.
Wipro continued its momentum in
winning Large Deals globally as listed below:
Wipro was selected by Levi Strauss & Co. (LS&Co), one of the worlds largest brand-name
apparel companies and global leader in Jeanswear, as its primary partner for global applications maintenance and development, infrastructure and BPO services. The five-year contract is geared towards bringing cost efficiencies and enabling enhanced
optimization of applications, infrastructure, and BPO services within HR, Finance, IT, Customer Service, and Consumer Relations areas, thereby helping Levi Strauss & Co with their ongoing efficiency and cost saving measures to improve
profitability.
Wipro has been selected by a large global food company as its partner for all its infrastructure and hosting needs. Wipro will leverage
its US-based data centers and industry leading ServiceNXT Framework to enable world class Infrastructure services to support the customers evolving business needs. The five-year contract will optimize applications and infrastructure across the
entire enterprise, thereby helping the client with its ongoing business and technology needs.
Wipro has won a multi-year payments transformation and
platform management deal with a top 10 bank and card issuer in the US. The deal further enhances Wipros leadership position in the growing payments space and strengthens its consulting and delivery capabilities in payments and cards.
Wipro has been chosen as a strategic partner by a global leader in payments technology as part of their transformation strategy. The multi-year deal will
result in Wipro partnering with the payments major across application development, maintenance, testing and infrastructure services.
Advanced
Technologies & Solutions continued its traction with customers in the areas of Cloud, Mobility, Analytics, Big Data, and Workplace Collaboration, across verticals. Some marquee wins in Q3 include engineering of a big data platform on public
cloud for a pharma major, financial risk and compliance analytics for a leading global investment bank.
Wipro has been empaneled by one of the worlds largest providers of financial services as one of its IT
services providers. Wipro was selected for its depth and breadth of services and its ability to scale and support the customers goal of consolidation and growth, as the latter continues to invest in IT.
Wipro has been chosen by Cairn India Limited, Indias largest independent oil and gas exploration and production company as its IT partner for a business
transformation program. Through this program Cairn India limited will achieve improved service delivery and meet its expansion plans.
Wipro has been
chosen by the Government of Assam to design, develop and maintain an IT Solution for the states National Register of Citizens (NRC). The company will support the setting-up of the NRC Data Center, Seva Kendras and digitization of
the citizen application forms for updating the data.
Wipro has been selected to provide advisory and project management services to help set-up the IT
landscape of a new bank, being launched by IDFC Limited, a leading Indian infrastructure finance company.
Awards and accolades
Wipro Digital has been named to the Winners Circle by the analyst firm HfS Research in its inaugural Marketing Operations and Digital
Customer Experience Management Blueprint Report. The report evaluates service providers on their execution and innovation capabilities across marketing content development and management, campaign management, digital customer relationship management
services and marketing analytics services. As per the report, Wipro Digital is a leader at developing strong client relationships, executing services beyond expectations and is highly flexible when meeting client needs. The report further states
that Wipro Digital has a strong vision for the future, invests in future capabilities, works across verticals and with external partners to increase value for clients.
Wipro has been positioned as a Leader in the first ever published Gartner Magic Quadrant for Application Testing Services, Worldwide 2014 authored
by Susanne Matson and Patrick J. Sullivan, published on 25 November 2014. The report evaluated 16 different software vendors on 15 criteria and placed Wipro Ltd. in the Leaders quadrant. Gartner defines Application testing services as a
comprehensive term used to capture all types of verification and validation services for the purposes of supporting clients applications quality control and quality assurance (QA). Verification assesses the technical behavior, and validation
assesses the functional behavior of tested elements.
Wipro was positioned as a Leader in Gartner Magic Quadrant Oracle Application
Implementation Services, Worldwide 2014 authored by Alex Soejarto and Susanne Matson, published on 04 December 2014. The report evaluated 14 different software vendors on their completeness of vision and ability to execute and placed Wipro Ltd.
in the Leaders quadrant. Gartner defines, Leaders are performing well today, gaining traction and mind share in the market; they have a clear vision of the markets direction, are helping clients beyond product road maps, and are actively
building competencies to sustain their leadership position in the market.
Wipro has been named a Leader by technology global research and
advisory firm Forrester Research Inc. in its report, The Forrester Wave: Business Intelligence Service Providers, Q4 2014. The report states that Wipro is amongst vendors that present formidable management consulting capabilities,
capable of tackling not just tactical, but strategic and advisory initiatives.
IT Products
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Our IT Products Segment delivered Revenue of
7.7 billion ($123 million1) for the quarter ended December 31, 2014. |
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IT Products Segment results for the quarter ended December 31, 2014 was
89 million ($1 million1). |
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IT Products Revenues for the fiscal year ended March 31, 2014 included sales of Wipro branded desktops, laptops and servers which Wipro ceased manufacturing in the quarter ended December 31, 2013.
|
Please refer the table on page 7 for reconciliation between IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant
currency basis.
Pursuant to the announcement issued as part of the press release on October 22, 2014, Wipro Inc. Benefit Trust sold 1.8 million
shares of Wipro Limited and the same is reflected in the financial statements of the quarter ended December 31, 2014.
About Non-GAAP financial
measures
This press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP
financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial
measure calculated and presented in accordance with IFRS.
The table on page 7 provides IT Services Revenue on a constant currency basis, which is a
non-GAAP measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. We refer to growth rates in constant currency
so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance.
This non-GAAP financial measure is not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or
superior to, the most directly comparable financial measure calculated in accordance with IFRS, and may be different from non-GAAP measures used by other companies. In addition to this non-GAAP measure, the financial statements prepared in
accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated.
Results for the quarter ended December 31, 2014, prepared under IFRS, along with individual business segment reports, are available in the Investors
section of our website www.wipro.com.
Quarterly Conference Call
We will hold an earnings conference call today at 07:15 p.m. Indian Standard Time (08:45 a.m. US Eastern Time) to discuss our performance for the quarter. An
audio recording of the management discussions and the question and answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com.
About Wipro Limited (NYSE: WIT)
Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Business Process Services company that delivers solutions to enable its clients do
business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of Business through Technology - helping clients create successful and adaptive businesses. A company recognized
globally for its comprehensive portfolio of services, a practitioners approach to delivering innovation, and an organization wide commitment to sustainability, Wipro has a workforce of over 150,000, serving clients in 175+ cities across 6
continents.
For more information, please visit www.wipro.com
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Contact for Investor Relations |
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Contact for Media & Press |
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Aravind V S |
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Vaibhav Saha |
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Vipin Nair |
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Phone: +91-80-2505 6186 |
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Phone:+1 732-509-1362 |
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Phone: +91-80-3991-6154 |
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aravind.viswanathan@wipro.com |
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vaibhav.saha@wipro.com |
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vipin.nair1@wipro.com |
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Forward-looking statements
The forward-looking statements contained herein represent Wipros beliefs regarding future events, many of which are by their nature, inherently uncertain
and outside Wipros control. Such statements include, but are not limited to, statements regarding Wipros growth prospects, its future financial operating results, 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, 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 companys 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.
# # #
(Tables to follow)
Wipro limited and subsidiaries
CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION
(Rupees in millions, except share and per share data, unless otherwise stated)
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As of March 31, |
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As of December 31, |
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Notes |
|
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2014 |
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|
2014 |
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|
2014 |
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Convenience translation into US dollar in millions (unaudited) Refer Note 2(iv) |
|
ASSETS |
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Goodwill |
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5 |
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63,422 |
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69,327 |
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|
1,100 |
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Intangible assets |
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5 |
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|
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1,936 |
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8,798 |
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|
140 |
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Property, plant and equipment |
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4 |
|
|
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51,449 |
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|
|
54,168 |
|
|
|
859 |
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Derivative assets |
|
|
13 |
|
|
|
286 |
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|
|
576 |
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|
|
9 |
|
Available for sale investments |
|
|
7 |
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2,676 |
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|
3,029 |
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|
48 |
|
Non-current tax assets |
|
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|
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|
10,192 |
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10,122 |
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|
161 |
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Deferred tax assets |
|
|
|
|
|
|
3,362 |
|
|
|
3,579 |
|
|
|
57 |
|
Other non-current assets |
|
|
10 |
|
|
|
14,295 |
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|
14,449 |
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229 |
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|
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Total non-current assets |
|
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|
147,618 |
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|
|
164,048 |
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2,603 |
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Inventories |
|
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8 |
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2,293 |
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|
|
4,361 |
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|
|
69 |
|
Trade receivables |
|
|
|
|
|
|
85,392 |
|
|
|
93,757 |
|
|
|
1,487 |
|
Other current assets |
|
|
10 |
|
|
|
39,474 |
|
|
|
57,270 |
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|
|
908 |
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Unbilled revenues |
|
|
|
|
|
|
39,334 |
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|
|
42,238 |
|
|
|
670 |
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Available for sale investments |
|
|
7 |
|
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60,557 |
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|
|
82,985 |
|
|
|
1,316 |
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Current tax assets |
|
|
|
|
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|
9,774 |
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|
|
6,123 |
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|
|
97 |
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Derivative assets |
|
|
13 |
|
|
|
3,661 |
|
|
|
2,511 |
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|
|
40 |
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Cash and cash equivalents |
|
|
9 |
|
|
|
114,201 |
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|
|
122,113 |
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|
1,937 |
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|
|
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Total current assets |
|
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354,686 |
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|
|
411,358 |
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|
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6,524 |
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|
|
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|
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TOTAL ASSETS |
|
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502,304 |
|
|
|
575,406 |
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|
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9,127 |
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EQUITY |
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Share capital |
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4,932 |
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|
4,937 |
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78 |
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Share premium |
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|
|
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12,664 |
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|
13,903 |
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|
221 |
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Retained earnings |
|
|
|
|
|
|
314,952 |
|
|
|
364,399 |
|
|
|
5,780 |
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Share based payment reserve |
|
|
|
|
|
|
1,021 |
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|
|
1,186 |
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|
|
19 |
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Other components of equity |
|
|
|
|
|
|
10,472 |
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|
|
14,120 |
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|
|
224 |
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Shares held by controlled trust |
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(542 |
) |
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Equity attributable to the equity holders of the company |
|
|
|
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|
343,499 |
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398,545 |
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|
6,322 |
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Non-controlling interest |
|
|
|
|
|
|
1,387 |
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|
|
1,504 |
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|
|
24 |
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Total equity |
|
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344,886 |
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|
|
400,049 |
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|
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6,346 |
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|
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|
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|
|
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LIABILITIES
Long - term loans and borrowings |
|
|
11 |
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|
|
10,909 |
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|
|
12,522 |
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|
|
199 |
|
Deferred tax liabilities |
|
|
|
|
|
|
1,796 |
|
|
|
2,861 |
|
|
|
45 |
|
Derivative liabilities |
|
|
13 |
|
|
|
629 |
|
|
|
310 |
|
|
|
5 |
|
Non-current tax liability |
|
|
|
|
|
|
3,448 |
|
|
|
6,361 |
|
|
|
101 |
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Other non-current liabilities |
|
|
12 |
|
|
|
4,174 |
|
|
|
4,273 |
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|
|
68 |
|
Provisions |
|
|
12 |
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|
|
6 |
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|
|
7 |
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Total non-current liabilities |
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|
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20,962 |
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|
|
26,334 |
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|
418 |
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|
Loans and borrowings and bank overdrafts |
|
|
11 |
|
|
|
40,683 |
|
|
|
57,084 |
|
|
|
906 |
|
Trade payables and accrued expenses |
|
|
|
|
|
|
52,256 |
|
|
|
53,677 |
|
|
|
852 |
|
Unearned revenues |
|
|
|
|
|
|
12,767 |
|
|
|
15,838 |
|
|
|
249 |
|
Current tax liabilities |
|
|
|
|
|
|
12,482 |
|
|
|
7,489 |
|
|
|
119 |
|
Derivative liabilities |
|
|
13 |
|
|
|
2,504 |
|
|
|
1,833 |
|
|
|
29 |
|
Other current liabilities |
|
|
12 |
|
|
|
14,394 |
|
|
|
11,765 |
|
|
|
187 |
|
Provisions |
|
|
12 |
|
|
|
1,370 |
|
|
|
1,337 |
|
|
|
21 |
|
|
|
|
|
|
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|
|
Total current liabilities |
|
|
|
|
|
|
136,456 |
|
|
|
149,023 |
|
|
|
2,363 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
|
|
|
|
|
157,418 |
|
|
|
175,357 |
|
|
|
2,781 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
|
|
|
|
|
|
502,304 |
|
|
|
575,406 |
|
|
|
9,127 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wipro limited and subsidiaries
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME
(Rupees in millions, except share and per share data, unless otherwise stated)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months ended December 31, |
|
|
Nine Months ended December 31, |
|
|
|
2013 |
|
|
2014 |
|
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2014 |
|
|
|
|
|
|
|
|
Convenience translation into US dollar in millions (unaudited) |
|
|
|
|
|
|
|
|
Convenience translation into US dollar in millions (unaudited) |
|
Gross revenues |
|
|
112,713 |
|
|
|
119,929 |
|
|
|
1,902 |
|
|
|
317,734 |
|
|
|
348,125 |
|
|
|
5,522 |
|
Cost of revenues |
|
|
(76,365 |
) |
|
|
(82,867 |
) |
|
|
(1,315 |
) |
|
|
(217,788 |
) |
|
|
(238,675 |
) |
|
|
(3,786 |
) |
Gross profit |
|
|
36,348 |
|
|
|
37,062 |
|
|
|
587 |
|
|
|
99,946 |
|
|
|
109,451 |
|
|
|
1,736 |
|
Selling and marketing expenses |
|
|
(7,759 |
) |
|
|
(7,524 |
) |
|
|
(119 |
) |
|
|
(22,224 |
) |
|
|
(22,709 |
) |
|
|
(360 |
) |
General and administrative expenses |
|
|
(5,775 |
) |
|
|
(6,426 |
) |
|
|
(102 |
) |
|
|
(17,028 |
) |
|
|
(19,217 |
) |
|
|
(305 |
) |
Foreign exchange gains/(losses), net |
|
|
604 |
|
|
|
922 |
|
|
|
15 |
|
|
|
2,849 |
|
|
|
3,343 |
|
|
|
53 |
|
Results from operating activities |
|
|
23,418 |
|
|
|
24,034 |
|
|
|
381 |
|
|
|
63,543 |
|
|
|
70,867 |
|
|
|
1,124 |
|
Finance expenses |
|
|
(898 |
) |
|
|
(810 |
) |
|
|
(13 |
) |
|
|
(2,049 |
) |
|
|
(2,687 |
) |
|
|
(43 |
) |
Finance and other income |
|
|
3,812 |
|
|
|
5,035 |
|
|
|
81 |
|
|
|
10,585 |
|
|
|
14,383 |
|
|
|
228 |
|
Profit before tax |
|
|
26,332 |
|
|
|
28,259 |
|
|
|
449 |
|
|
|
72,079 |
|
|
|
82,563 |
|
|
|
1,309 |
|
Income tax expense |
|
|
(6,060 |
) |
|
|
(6,228 |
) |
|
|
(99 |
) |
|
|
(16,064 |
) |
|
|
(18,369 |
) |
|
|
(291 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
20,272 |
|
|
|
22,031 |
|
|
|
350 |
|
|
|
56,015 |
|
|
|
64,194 |
|
|
|
1,018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity holders of the company |
|
|
20,147 |
|
|
|
21,928 |
|
|
|
348 |
|
|
|
55,703 |
|
|
|
63,808 |
|
|
|
1,012 |
|
Non-controlling interest |
|
|
125 |
|
|
|
103 |
|
|
|
2 |
|
|
|
312 |
|
|
|
386 |
|
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
20,272 |
|
|
|
22,031 |
|
|
|
350 |
|
|
|
56,015 |
|
|
|
64,194 |
|
|
|
1,018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per equity share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to equity share holders of the company |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
8.20 |
|
|
|
8.92 |
|
|
|
0.14 |
|
|
|
22.69 |
|
|
|
25.97 |
|
|
|
0.41 |
|
Diluted |
|
|
8.18 |
|
|
|
8.88 |
|
|
|
0.14 |
|
|
|
22.63 |
|
|
|
25.85 |
|
|
|
0.41 |
|
Weighted average number of equity shares used in computing earnings per equity share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
2,455,541,979 |
|
|
|
2,457,766,859 |
|
|
|
2,457,766,859 |
|
|
|
2,454,745,433 |
|
|
|
2,457,491,867 |
|
|
|
2,457,491,867 |
|
Diluted |
|
|
2,462,432,622 |
|
|
|
2,469,323,243 |
|
|
|
2,469,323,243 |
|
|
|
2,462,073,492 |
|
|
|
2,468,262,835 |
|
|
|
2,468,262,835 |
|
Additional Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services Business Units |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BFSI |
|
|
27,305 |
|
|
|
29,177 |
|
|
|
463 |
|
|
|
77,567 |
|
|
|
85,653 |
|
|
|
1,359 |
|
HLS |
|
|
10,914 |
|
|
|
13,247 |
|
|
|
210 |
|
|
|
29,855 |
|
|
|
36,713 |
|
|
|
582 |
|
RCTG |
|
|
15,116 |
|
|
|
16,005 |
|
|
|
254 |
|
|
|
43,481 |
|
|
|
45,951 |
|
|
|
729 |
|
ENU |
|
|
16,625 |
|
|
|
18,637 |
|
|
|
296 |
|
|
|
46,750 |
|
|
|
53,792 |
|
|
|
853 |
|
MFG |
|
|
19,199 |
|
|
|
20,718 |
|
|
|
329 |
|
|
|
55,328 |
|
|
|
59,721 |
|
|
|
947 |
|
GMT |
|
|
14,115 |
|
|
|
15,661 |
|
|
|
248 |
|
|
|
40,335 |
|
|
|
45,933 |
|
|
|
729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT SERVICES TOTAL |
|
|
103,274 |
|
|
|
113,445 |
|
|
|
1,800 |
|
|
|
293,316 |
|
|
|
327,763 |
|
|
|
5,199 |
|
IT PRODUCTS |
|
|
10,155 |
|
|
|
7,740 |
|
|
|
123 |
|
|
|
27,695 |
|
|
|
24,552 |
|
|
|
389 |
|
RECONCILING ITEM |
|
|
(112 |
) |
|
|
(334 |
) |
|
|
(5 |
) |
|
|
(428 |
) |
|
|
(847 |
) |
|
|
(13 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
113,317 |
|
|
|
120,851 |
|
|
|
1,917 |
|
|
|
320,583 |
|
|
|
351,468 |
|
|
|
5,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Result |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services Business Units |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BFSI |
|
|
6,377 |
|
|
|
7,035 |
|
|
|
112 |
|
|
|
17,148 |
|
|
|
19,904 |
|
|
|
316 |
|
HLS |
|
|
1,847 |
|
|
|
2,981 |
|
|
|
47 |
|
|
|
5,155 |
|
|
|
7,534 |
|
|
|
120 |
|
RCTG |
|
|
3,164 |
|
|
|
3,255 |
|
|
|
52 |
|
|
|
8,964 |
|
|
|
9,648 |
|
|
|
153 |
|
ENU |
|
|
4,683 |
|
|
|
4,262 |
|
|
|
68 |
|
|
|
12,531 |
|
|
|
13,483 |
|
|
|
214 |
|
MFG |
|
|
4,565 |
|
|
|
4,228 |
|
|
|
67 |
|
|
|
12,439 |
|
|
|
12,630 |
|
|
|
200 |
|
GMT |
|
|
2,845 |
|
|
|
3,438 |
|
|
|
55 |
|
|
|
8,237 |
|
|
|
10,696 |
|
|
|
170 |
|
OTHERS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
583 |
|
|
|
9 |
|
UNALLOCATED |
|
|
309 |
|
|
|
(458 |
) |
|
|
(7 |
) |
|
|
(195 |
) |
|
|
(1,606 |
) |
|
|
(25 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL IT SERVICES |
|
|
23,790 |
|
|
|
24,741 |
|
|
|
392 |
|
|
|
64,279 |
|
|
|
72,872 |
|
|
|
1,156 |
|
IT PRODUCTS |
|
|
(116 |
) |
|
|
89 |
|
|
|
1 |
|
|
|
167 |
|
|
|
316 |
|
|
|
5 |
|
RECONCILING ITEM |
|
|
(256 |
) |
|
|
(796 |
) |
|
|
(13 |
) |
|
|
(903 |
) |
|
|
(2,321 |
) |
|
|
(37 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
|
|
23,418 |
|
|
|
24,034 |
|
|
|
381 |
|
|
|
63,543 |
|
|
|
70,867 |
|
|
|
1,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCE EXPENSE |
|
|
(898 |
) |
|
|
(810 |
) |
|
|
(13 |
) |
|
|
(2,049 |
) |
|
|
(2,687 |
) |
|
|
(43 |
) |
FINANCE AND OTHER INCOME |
|
|
3,812 |
|
|
|
5,035 |
|
|
|
81 |
|
|
|
10,585 |
|
|
|
14,383 |
|
|
|
228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX |
|
|
26,332 |
|
|
|
28,259 |
|
|
|
449 |
|
|
|
72,079 |
|
|
|
82,563 |
|
|
|
1,309 |
|
INCOME TAX EXPENSE |
|
|
(6,060 |
) |
|
|
(6,228 |
) |
|
|
(99 |
) |
|
|
(16,064 |
) |
|
|
(18,369 |
) |
|
|
(291 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE PERIOD |
|
|
20,272 |
|
|
|
22,031 |
|
|
|
350 |
|
|
|
56,015 |
|
|
|
64,194 |
|
|
|
1,018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment result represents operating profits of the segments and dividend income and gains or losses (net) relating to strategic
investments, which are presented within Finance and other income in the statement of Income.
The Company is organized by the following
operating segments; IT Services and IT Products.
IT Services: The IT Services segment primarily consists of IT Service offerings to our customers
organized by industry verticals as follows: Banking, Financial Services and Insurance (BFSI), Healthcare and Life Sciences (HLS), Retail, Consumer, Transport and Government (RCTG), Energy, Natural Resources and Utilities (ENU), Manufacturing (MFG),
Global Media and Telecom (GMT). Starting with quarter ended September 30, 2014, it also includes Others which comprises dividend income and gains or losses (net) relating to strategic investments, which are presented within Finance and other
income in the statement of Income. Key service offering to customers includes software application development and maintenance, research and development services for hardware and software design, business application services, analytics,
consulting, infrastructure outsourcing services and business process outsourcing services.
The IT Products segment sells a range of Wipro personal desktop
computers, Wipro servers and Wipro notebooks. The Company is also a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands. In certain total outsourcing
contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. During the fiscal year ended March 31, 2014 the Company ceased the manufacturing of Wipro branded desktops, laptops and
servers. Revenue relating to the above items is reported as revenue from the sale of IT Products.
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($MN) |
|
|
|
|
|
IT Services Revenue as per IFRS |
|
$ |
1,795 |
|
|
IT Services Revenue as per IFRS |
|
$ |
1,795 |
|
Effect of Foreign currency exchange movement |
|
$ |
41 |
|
|
Effect of Foreign currency exchange movement |
|
$ |
47 |
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates |
|
$ |
1,836 |
|
|
Non-GAAP Constant Currency IT Services
Revenue based on previous year exchange rates |
|
$ |
1,842 |
|
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
1
Performance of Wipro
Limited for Quarter ended
December 31, 2014
Suresh Senapaty
Executive Director and Chief Financial Officer
January 16, 2015
Exhibit 99.2 |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
2
Financial Summary for the Quarter Ended
December 31, 2014 (IFRS)
Wipro Limited
Q3 15 (Rs million)
YoY Growth
Revenues
119,929
6%
Results from Operating Activities
24,034
3%
Net Income
21,928
9%
Revenue of the Company grew 6% YoY in the quarter. Net Income grew 9% YoY.
Robust Operating & Free Cash Flow generation at 79% & 73% of Net
Income respectively Gross Cash position of INR 231,598 million
Net Income refers to Profit for the period attributable to equity shareholders of the
company
Operating Cash Flow refers to Net Cash generated from Operating Activities as presented in
consolidated interim statements of Cash Flows
We define Gross Cash as the sum of (i) cash and cash equivalents plus (ii) Available for Sale
Investments current, and (iii) Interest bearing deposits with corporates - current. Free Cash Flow is
defined as Net cash generated from operating activities plus (i) Cash outflows on Purchase of property, plant and equipment and (ii) Proceeds
from Sale of property, plant and equipment as presented in consolidated interim statements of
Cash Flows. For detailed reconciliations, please refer slide 10 in appendix
|
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
3
Highlights of the results
Segments
Revenue
(Rs million)
YoY Growth
Segment Results (margin)
(Rs million)
YoY Growth
IT Services
113,445
10%
24,741
4%
IT Products
7,740
-24%
89
NA
IT Services USD Revenue grew by 1.3% sequentially and 7.0% on a YoY basis
IT Services USD Revenue grew by 3.7% sequentially on constant currency basis
$50 million+ accounts increased by 1 to 31
IT Services Margins was 21.8%.
Interim Dividend of
5 ($0.08) per share/ ADS was declared, compared to
3 in FY14
Segment results of IT Products for QE 31 December 2013 was Rs -116
Million . Hence YoY growth % is not applicable. For reconciliation of
non-GAAP constant currency IT Services USD revenues please refer to slide 7 |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
4
IT Services -
Revenue Dynamics for Quarter Ended
December 31, 2014
1.
Healthcare, Life sciences and Services grew 20.3% on a constant currency YoY
basis 2.
Energy and Utilities grew 13.4% on a constant currency YoY basis
3.
Global Media and Telecom grew 11.7% on a constant currency YoY basis
1.
India and Middle East grew 21.1% on a constant currency YoY basis
2.
Americas grew 11.0% on a constant currency YoY basis
3.
APAC
and
Other
Emerging
Markets
grew
8.1%
on
a
constant
currency
YoY
basis
Geographies
1.
Global Infrastructure Services grew 20.5% on a YoY basis
2.
Business Process Outsourcing grew 16.8% on a YoY basis
3.
Business Application Services grew 8.9% on a YoY basis
Business units
Service Lines
The growth percentages have been calculated based on USD revenues for the Business
Unit/ Service line/ Geography |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
5
Looking ahead
* Guidance is based on the following exchange rates: GBP/USD at 1.56, Euro/USD at
1.23, AUD/USD at 0.84, USD/INR at 62.90 and USD/CAD at 1.15
Looking ahead for the quarter ending March 31, 2015
We expect the Revenue from our IT
Services business to be in the range
$1,814 million to $1,850 million*
Jan
Feb
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2014-15
Mar |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
6
Supplemental Data
Key Operating Metrics of IT Services |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
7
Key Operating Metrics in IT Services for the
Quarter ended December 31, 2014
Particulars
Q315
Q215
Q314
Revenue Composition
Global Media & Telecom
13.8%
13.9%
13.7%
Finance Solutions
25.7%
26.0%
26.4%
Manufacturing & Hitech
18.3%
18.2%
18.6%
Healthcare , Life Sciences & Services
11.7%
11.2%
10.6%
Retail, Consumer Goods & Transportation
14.1%
13.9%
14.6%
Energy, Natural Resources & Utilities
16.4%
16.8%
16.1%
Geography Composition
Americas
51.4%
51.0%
49.9%
Europe
27.6%
27.8%
29.6%
India & Middle East Business
9.6%
9.2%
8.5%
APAC & Other Emerging Markets
11.4%
12.0%
12.0%
People related
Number of employees
156,866
154,297
146,402 |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
8
Thank You
suresh.senapaty@wipro.com
Suresh Senapaty
Executive Director and CFO |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
9
Appendix |
|
©
2015 WIPRO LTD | WWW.WIPRO.COM
10
Reconciliation of Selected GAAP measures to Non-GAAP measures
Reconciliation of Gross Cash
WIPRO LIMITED AND SUBSIDIARIES
(Amounts in INR millions)
As of
Dec 31, 2014
Computation of Gross cash position
Cash and cash equivalents
122,113
Available
for
sale
investments
-
current
82,985
Interest
bearing
deposits
with
corporates
-
current
26,500
Total
231,598
WIPRO LIMITED AND SUBSIDIARIES
(Amounts in INR millions)
Three months
ended
Dec 31, 2014
22,031
(1,408)
230
16,062
73%
Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT
Services Revenue as per IFRS ($MN) IT Services Revenue as per IFRS
IT Services Revenue as per IFRS
$ 1,795
Effect of Foreign currency exchange movement
Effect of Foreign currency exchange
movement
$ 47
Non-GAAP Constant Currency IT Services
Revenue based on previous quarter exchange
rates
Non-GAAP Constant Currency IT Services
Revenue based on previous year exchange
rates
$ 1,842
Reconciliation of Free Cash Flow
Reconciliation of Non-GAAP constant currency Revenue
17,240
$ 1,795
$ 41
$ 1,836
Profit for the period [A]
Computation of Free cash flow
Net cash generated from operating activities
Add/(deduct) cash inflow/(outflow) on :
Purchase of Property,plant and equipment
Proceeds from sale of Property,plant and
equipment
Free cash flow attributable to equity holders
of the company [B]
Free cash flow as a percentage of Net
income [B/A] |
Exhibit 99.3
WIPRO LIMITED CONSOLIDATED
CIN: L32102KA1945PLC020800 ; Registered Office : Wipro Limited, Doddakanneli, Sarjapur Road, Bangalore 560035, India
Website: www.wipro.com ; Email id info@wipro.com ; Tel: +91-80-2844 0011 ; Fax: +91-80-2844 0054
CONSOLIDATED STATUTORILY AUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2014
(
in millions, except share and per share data, unless otherwise stated)
|
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Particulars |
|
Quarter ended |
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|
Nine months ended |
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|
Year ended |
|
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|
|
December 31, 2014 |
|
|
September 30, 2014 |
|
|
December 31, 2013 |
|
|
December 31, 2014 |
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|
December 31, 2013 |
|
|
March 31, 2014 |
|
1 |
|
Income from operations |
|
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|
|
|
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|
a) Net Sales/income from operations (net of excise duty) |
|
|
120,851 |
|
|
|
118,160 |
|
|
|
113,274 |
|
|
|
351,466 |
|
|
|
320,513 |
|
|
|
437,549 |
|
|
|
b) Other operating income |
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|
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|
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|
|
Total income from operations (net) |
|
|
120,851 |
|
|
|
118,160 |
|
|
|
113,274 |
|
|
|
351,466 |
|
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|
320,513 |
|
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|
437,549 |
|
2 |
|
Expenses |
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a) Cost of materials consumed |
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5 |
|
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|
10 |
|
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|
627 |
|
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|
34 |
|
|
|
781 |
|
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|
2,054 |
|
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|
b) Purchase of stock-in-trade |
|
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7,392 |
|
|
|
7,401 |
|
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|
7,002 |
|
|
|
21,345 |
|
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|
20,322 |
|
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|
27,670 |
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|
c) (Increase)/Decrease in inventories of finished stock, |
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work-in-progress and stock in process |
|
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(1,622 |
) |
|
|
(381 |
) |
|
|
(131 |
) |
|
|
(2,080 |
) |
|
|
(468 |
) |
|
|
54 |
|
|
|
d) Employee compensation |
|
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57,175 |
|
|
|
56,947 |
|
|
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52,788 |
|
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168,011 |
|
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153,846 |
|
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|
206,568 |
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e) Depreciation and amortisation expense |
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3,647 |
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3,075 |
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3,109 |
|
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9,556 |
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8,226 |
|
|
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11,106 |
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f) Sub contracting/technical fees/third party application |
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14,123 |
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13,067 |
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11,174 |
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38,868 |
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31,921 |
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43,521 |
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g) Other expenditure |
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16,097 |
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14,979 |
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15,287 |
|
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44,865 |
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|
42,342 |
|
|
|
57,222 |
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Total expense |
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96,817 |
|
|
|
95,098 |
|
|
|
89,856 |
|
|
|
280,599 |
|
|
|
256,970 |
|
|
|
348,195 |
|
3 |
|
Profit from operations before other income, finance costs and exceptional items (1-2) |
|
|
24,034 |
|
|
|
23,062 |
|
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23,418 |
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70,867 |
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63,543 |
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|
89,354 |
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4 |
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Other Income |
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5,035 |
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5,109 |
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3,812 |
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14,383 |
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10,585 |
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|
14,542 |
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5 |
|
Profit from ordinary activities before finance costs and exceptional items (3+4) |
|
|
29,069 |
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28,171 |
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27,230 |
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85,250 |
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74,128 |
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103,896 |
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6 |
|
Finance Cost |
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|
810 |
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|
989 |
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|
898 |
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2,687 |
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|
2,049 |
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|
2,891 |
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7 |
|
Profit from ordinary activities after finance costs but before exceptional items (5-6) |
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|
28,259 |
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27,182 |
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|
26,332 |
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|
82,563 |
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72,079 |
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|
101,005 |
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8 |
|
Exceptional items |
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9 |
|
Profit from ordinary activities before tax (7+8) |
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28,259 |
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|
27,182 |
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|
26,332 |
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82,563 |
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72,079 |
|
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|
101,005 |
|
10 |
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Tax expense |
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|
6,228 |
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|
6,199 |
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6,060 |
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|
18,369 |
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|
16,064 |
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|
22,600 |
|
11 |
|
Net profit from ordinary activities after tax (9-10) |
|
|
22,031 |
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|
20,983 |
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|
20,272 |
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64,194 |
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|
56,015 |
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|
78,405 |
|
12 |
|
Extraordinary items (net of tax expense) |
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13 |
|
Net profit for the period (11+12) |
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22,031 |
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20,983 |
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20,272 |
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64,194 |
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56,015 |
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|
78,405 |
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14 |
|
Share in earnings of associates |
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15 |
|
Minority interest |
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(103 |
) |
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|
(135 |
) |
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|
(125 |
) |
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|
(386 |
) |
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|
(312 |
) |
|
|
(438 |
) |
16 |
|
Net profit after taxes, minority interest and share of profit of associates (13+14+15) |
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21,928 |
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20,848 |
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20,147 |
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63,808 |
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55,703 |
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|
77,967 |
|
17 |
|
Paid up equity share capital (Face value
2 per share) |
|
|
4,937 |
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4,935 |
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|
4,931 |
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|
4,937 |
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|
|
4,931 |
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|
|
4,932 |
|
18 |
|
Reserves excluding revaluation reserves as per balance sheet of previous accounting year |
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|
338,567 |
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19 |
|
EARNINGS PER SHARE (EPS) |
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Before extraordinary items |
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|
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|
Basic (in
) |
|
|
8.92 |
|
|
|
8.49 |
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|
|
8.20 |
|
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|
25.97 |
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|
|
22.69 |
|
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|
31.76 |
|
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|
Diluted (in
) |
|
|
8.88 |
|
|
|
8.45 |
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|
|
8.18 |
|
|
|
25.85 |
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|
|
22.62 |
|
|
|
31.66 |
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|
After extraordinary items |
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|
|
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|
Basic (in
) |
|
|
8.92 |
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|
|
8.49 |
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8.20 |
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|
25.97 |
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|
|
22.69 |
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|
|
31.76 |
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|
Diluted (in
) |
|
|
8.88 |
|
|
|
8.45 |
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|
|
8.18 |
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|
|
25.85 |
|
|
|
22.62 |
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|
|
31.66 |
|
20 |
|
Public shareholding (1) |
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|
Number of shares |
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|
608,391,868 |
|
|
|
607,829,785 |
|
|
|
605,731,374 |
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608,391,868 |
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|
605,731,374 |
|
|
|
606,514,878 |
|
|
|
Percentage of holding (as a % of total public shareholding) |
|
|
25.14 |
% |
|
|
25.12 |
% |
|
|
25.05 |
% |
|
|
25.14 |
% |
|
|
25.05 |
% |
|
|
25.08 |
% |
21 |
|
Promoters and promoter group shareholding |
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a) Pledged/ Encumbered |
|
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|
|
|
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|
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|
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|
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|
-Number of shares |
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
-Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
-Percentage of shares (as a % of the total share capital of the company) |
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
Nil |
|
|
|
b) Non-encumbered |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-Number of shares (2) |
|
|
1,812,022,464 |
|
|
|
1,812,022,464 |
|
|
|
1,812,022,464 |
|
|
|
1,812,022,464 |
|
|
|
1,812,022,464 |
|
|
|
1,812,022,464 |
|
|
|
-Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
|
|
-Percentage of shares (as a % of the total share capital of the company, excluding ADS Shareholding) |
|
|
74.86 |
% |
|
|
74.88 |
% |
|
|
74.95 |
% |
|
|
74.86 |
% |
|
|
74.95 |
% |
|
|
74.92 |
% |
(1) |
Public shareholding as defined under clause 40A of the listing agreement (excludes shares beneficially held by promoters and holders of American Depository Receipt) |
(2) |
Includes 440,557,453 (September 30, 2014: 440,557,453 ; December 31, 2013: 440,557,453; March 31, 2014: 440,557,453) equity shares on which Promoter does not have beneficiary interest. |
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|
Status of redressal of complaints received for the
period October 1, 2014 to December 31, 2014 |
|
Sl No. |
|
Nature of the complaint |
|
Nature |
|
Unresolved as at 01.10.2014 |
|
|
Complaints received during the quarter |
|
|
Complaints disposed during the quarter |
|
|
Unresolved as at 31.12.2014 |
|
1 |
|
Non-Receipt of Securities |
|
Complaint |
|
|
|
|
|
|
1 |
|
|
|
1 |
|
|
|
|
|
2 |
|
Non Receipt of Annual Reports |
|
Complaint |
|
|
|
|
|
|
11 |
|
|
|
11 |
|
|
|
|
|
3 |
|
Correction / Duplicate / Revalidation of dividend warrants / Demerger Fractional Payout Warrants |
|
Request |
|
|
|
|
|
|
167 |
|
|
|
167 |
|
|
|
|
|
4 |
|
SEBI/Stock Exchange Complaints |
|
Complaint |
|
|
|
|
|
|
2 |
|
|
|
2 |
|
|
|
|
|
5 |
|
Non Receipt of Dividend warrants |
|
Complaint |
|
|
|
|
|
|
59 |
|
|
|
59 |
|
|
|
|
|
|
|
TOTAL |
|
|
|
|
|
|
|
|
240 |
|
|
|
240 |
|
|
|
|
|
Note: There are certain pending cases relating to disputes over title to shares in which the company has been made a party.
However these cases are not material in nature.
1. |
The condensed consolidated interim financial results of the Company for the quarter ended December 31, 2014 have been approved by the directors of the Company at its meeting held on January 16, 2015.
The statutory auditors have expressed an unqualified audit opinion. |
2. |
The above consolidated interim financial results have been prepared from the condensed consolidated interim financial statements, which are prepared in accordance with International Financial Reporting Standards
and its interpretations (IFRS), as issued by the International Accounting Standards Board (IASB). |
3. |
The total revenue from operations represent the aggregate revenue and includes foreign exchange gains / (losses), net and is net of excise duty amounting to Nil,
1 and
43 for the quarter ended December 31, 2014, September 30, 2014 and December 31, 2013, respectively,
2 and
70 for the nine months ended December 31, 2014 and December 31, 2013, respectively and
79 for the year ended March 31, 2014. |
The Company is exposed to foreign currency fluctuations on foreign currency
assets / liabilities, forecasted cash flows denominated in foreign currency and net investment in foreign operations. The Company follows established risk management policies, including the use of derivatives to hedge foreign currency assets /
liabilities, foreign currency forecasted cash flows and net investment in foreign operations. The counter party in these derivative instruments is a bank and the Company considers the risks of non-performance by the counterparty as non-material.
The following table presents the aggregate contracted principal amounts of the Companys derivative contracts outstanding:
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(In Millions) |
|
|
|
As at |
|
|
|
December 31, 2014 |
|
|
March 31, 2014 |
|
Designated derivative instruments |
|
|
|
|
|
|
|
|
Sell |
|
$ |
977 |
|
|
$ |
516 |
|
|
|
£ |
186 |
|
|
£ |
51 |
|
|
|
|
159 |
|
|
|
78 |
|
|
|
AUD |
23 |
|
|
AUD |
9 |
|
Interest rate swaps |
|
$ |
150 |
|
|
$ |
150 |
|
2
|
|
|
|
|
|
|
|
|
|
|
(In Millions) |
|
|
|
As at |
|
|
|
December 31, 2014 |
|
|
March 31, 2014 |
|
Net investment hedges in foreign operations |
|
|
|
|
|
|
|
|
Others |
|
$ |
220 |
|
|
$ |
220 |
|
|
|
|
|
|
|
|
25 |
|
Non designated derivative instruments |
|
|
|
|
|
|
|
|
Sell |
|
$ |
824 |
|
|
$ |
1,061 |
|
|
|
£ |
64 |
|
|
£ |
112 |
|
|
|
|
57 |
|
|
|
63 |
|
|
|
AUD |
53 |
|
|
AUD |
99 |
|
|
|
¥ |
490 |
|
|
¥ |
490 |
|
|
|
SGD |
13 |
|
|
SGD |
8 |
|
|
|
ZAR |
69 |
|
|
ZAR |
223 |
|
|
|
CAD |
24 |
|
|
CAD |
10 |
|
|
|
CHF |
10 |
|
|
CHF |
|
|
Buy |
|
$ |
600 |
|
|
$ |
585 |
|
5. |
The list of subsidiaries is included in the condensed consolidated financial statements of Wipro Limited and subsidiaries for the quarter ended December 31, 2014, are available on our company website
www.wipro.com |
The Company is organized by the following operating segments; IT
Services and IT Products.
IT Services: The IT Services segment primarily consists of IT Service offerings to our customers
organized by industry verticals as follows: Banking, Financial Services and Insurance (BFSI), Healthcare and Life Sciences (HLS), Retail, Consumer, Transport and Government (RCTG), Energy, Natural Resources and Utilities (ENU), Manufacturing (MFG),
Global Media and Telecom (GMT). Starting with quarter ended September 30, 2014, it also includes Others which comprises dividend income and gains or losses (net) relating to strategic investments, which are presented within Finance and
other income in the statement of Income. Key service offering to customers includes software application development and maintenance, research and development services for hardware and software design, business application services, analytics,
consulting, infrastructure outsourcing services and business process outsourcing services.
IT Products: The IT Products segment
sells a range of Wipro personal desktop computers, Wipro servers and Wipro notebooks. The Company is also a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international
brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. During FY 2013-14, the Company ceased the manufacturing of Wipro branded desktops,
laptops and servers. Revenue relating to the above items is reported as revenue from the sale of IT Products.
The Chairman of the
Company has been identified as the Chief Operating Decision Maker (CODM) as defined by IFRS 8, Operating Segments. The Chairman of the Company evaluates the segments based on their revenue growth and operating income.
Assets and liabilities used in the Companys business are not identified to any of the reportable segments, as these are used
interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.
3
Information on reportable segment for the quarter ended December 31, 2014, September 30, 2014 and
December 31, 2013, and nine months ended December 31, 2014 and December 31, 2013, and year ended March 31, 2014 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended |
|
|
Nine months ended |
|
|
Year ended |
|
Particulars |
|
December 31, 2014 |
|
|
September 30, 2014 |
|
|
December 31, 2013 |
|
|
December 31, 2014 |
|
|
December 31, 2013 |
|
|
March 31, 2014 |
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BFSI |
|
|
29,177 |
|
|
|
28,411 |
|
|
|
27,305 |
|
|
|
85,653 |
|
|
|
77,567 |
|
|
|
106,035 |
|
HLS |
|
|
13,247 |
|
|
|
12,176 |
|
|
|
10,914 |
|
|
|
36,713 |
|
|
|
29,855 |
|
|
|
41,130 |
|
RCTG |
|
|
16,005 |
|
|
|
15,218 |
|
|
|
15,116 |
|
|
|
45,951 |
|
|
|
43,481 |
|
|
|
58,893 |
|
ENU |
|
|
18,637 |
|
|
|
18,333 |
|
|
|
16,625 |
|
|
|
53,792 |
|
|
|
46,750 |
|
|
|
63,923 |
|
MFG |
|
|
20,718 |
|
|
|
19,894 |
|
|
|
19,199 |
|
|
|
59,721 |
|
|
|
55,328 |
|
|
|
74,423 |
|
GMT |
|
|
15,661 |
|
|
|
15,203 |
|
|
|
14,115 |
|
|
|
45,933 |
|
|
|
40,335 |
|
|
|
55,105 |
|
Others |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total of IT Services |
|
|
113,445 |
|
|
|
109,235 |
|
|
|
103,274 |
|
|
|
327,763 |
|
|
|
293,316 |
|
|
|
399,509 |
|
IT Products |
|
|
7,740 |
|
|
|
9,152 |
|
|
|
10,155 |
|
|
|
24,552 |
|
|
|
27,695 |
|
|
|
38,785 |
|
Reconciling Items |
|
|
(334 |
) |
|
|
(226 |
) |
|
|
(112 |
) |
|
|
(847 |
) |
|
|
(428 |
) |
|
|
(666 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
120,851 |
|
|
|
118,161 |
|
|
|
113,317 |
|
|
|
351,468 |
|
|
|
320,583 |
|
|
|
437,628 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Result |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BFSI |
|
|
7,035 |
|
|
|
6,245 |
|
|
|
6,377 |
|
|
|
19,904 |
|
|
|
17,148 |
|
|
|
24,153 |
|
HLS |
|
|
2,981 |
|
|
|
2,422 |
|
|
|
1,847 |
|
|
|
7,534 |
|
|
|
5,155 |
|
|
|
7,637 |
|
RCTG |
|
|
3,255 |
|
|
|
3,205 |
|
|
|
3,164 |
|
|
|
9,648 |
|
|
|
8,964 |
|
|
|
13,012 |
|
ENU |
|
|
4,262 |
|
|
|
4,668 |
|
|
|
4,683 |
|
|
|
13,483 |
|
|
|
12,531 |
|
|
|
17,418 |
|
MFG |
|
|
4,228 |
|
|
|
4,034 |
|
|
|
4,565 |
|
|
|
12,630 |
|
|
|
12,439 |
|
|
|
17,348 |
|
GMT |
|
|
3,438 |
|
|
|
3,496 |
|
|
|
2,845 |
|
|
|
10,696 |
|
|
|
8,237 |
|
|
|
11,569 |
|
Others |
|
|
|
|
|
|
608 |
|
|
|
|
|
|
|
583 |
|
|
|
|
|
|
|
|
|
Unallocated |
|
|
(458 |
) |
|
|
(524 |
) |
|
|
309 |
|
|
|
(1,606 |
) |
|
|
(195 |
) |
|
|
(804 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total of IT Services |
|
|
24,741 |
|
|
|
24,154 |
|
|
|
23,790 |
|
|
|
72,872 |
|
|
|
64,279 |
|
|
|
90,333 |
|
IT Products |
|
|
89 |
|
|
|
62 |
|
|
|
(116 |
) |
|
|
316 |
|
|
|
167 |
|
|
|
310 |
|
Reconciling Items |
|
|
(796 |
) |
|
|
(1,154 |
) |
|
|
(256 |
) |
|
|
(2,321 |
) |
|
|
(903 |
) |
|
|
(1,289 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
24,034 |
|
|
|
23,062 |
|
|
|
23,418 |
|
|
|
70,867 |
|
|
|
63,543 |
|
|
|
89,354 |
|
Finance Expense |
|
|
(810 |
) |
|
|
(989 |
) |
|
|
(898 |
) |
|
|
(2,687 |
) |
|
|
(2,049 |
) |
|
|
(2,891 |
) |
Finance and Other Income |
|
|
5,035 |
|
|
|
5,109 |
|
|
|
3,812 |
|
|
|
14,383 |
|
|
|
10,585 |
|
|
|
14,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax |
|
|
28,259 |
|
|
|
27,182 |
|
|
|
26,332 |
|
|
|
82,563 |
|
|
|
72,079 |
|
|
|
101,005 |
|
Income tax expense |
|
|
(6,228 |
) |
|
|
(6,199 |
) |
|
|
(6,060 |
) |
|
|
(18,369 |
) |
|
|
(16,064 |
) |
|
|
(22,600 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
|
|
22,031 |
|
|
|
20,983 |
|
|
|
20,272 |
|
|
|
64,194 |
|
|
|
56,015 |
|
|
|
78,405 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
The Company has four geographic segments: India, Americas, Europe and Rest of the world. Revenues from the
geographic segments based on domicile of the customer are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended |
|
|
Nine months ended |
|
|
Year ended |
|
|
|
December 31, 2014 |
|
|
September 30, 2014 |
|
|
December 31, 2013 |
|
|
December 31, 2014 |
|
|
December 31, 2013 |
|
|
March 31, 2014 |
|
India |
|
|
10,649 |
|
|
|
10,668 |
|
|
|
11,592 |
|
|
|
32,388 |
|
|
|
33,591 |
|
|
|
46,235 |
|
Americas |
|
|
58,735 |
|
|
|
57,133 |
|
|
|
51,751 |
|
|
|
168,744 |
|
|
|
146,839 |
|
|
|
200,343 |
|
Europe |
|
|
31,818 |
|
|
|
30,884 |
|
|
|
31,543 |
|
|
|
94,069 |
|
|
|
88,265 |
|
|
|
120,868 |
|
Rest of the world |
|
|
19,649 |
|
|
|
19,476 |
|
|
|
18,431 |
|
|
|
56,267 |
|
|
|
51,888 |
|
|
|
70,182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
120,851 |
|
|
|
118,161 |
|
|
|
113,317 |
|
|
|
351,468 |
|
|
|
320,583 |
|
|
|
437,628 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Management believes that it is currently not practicable to provide disclosure of geographical location wise
assets, since the meaningful segregation of the available information is onerous.
No client individually accounted for more than 10% of
the revenues during the quarter ended December 31, 2014, September 30, 2014 and December 31, 2013, nine months ended December 31, 2014 and December 31, 2013 and year ended March 31, 2014.
Notes:
|
a) |
Reconciling items includes elimination of inter-segment transactions, dividend income/ gains/ losses relating to strategic investments and other corporate activities. |
|
b) |
Segment result represents operating profits of the segments and dividend income and gains or losses (net) relating to strategic investments, which are presented within Finance and other income in the
statement of Income. |
|
c) |
Revenues include excise duty amounting to Nil,
1 and
43 for the quarter ended December 31, 2014, September 30, 2014 and December 31, 2013, respectively,
2 and
70 for the nine months ended December 31, 2014 and December 31, 2013, respectively and
79 for the year ended March 31, 2014. For the purpose of segment reporting, the segment revenues are net of excise duty. Excise duty is reported in reconciling items. |
|
d) |
For the purpose of segment reporting, the Company has included the impact of foreign exchange gains / (losses), net in revenues (which is reported as a part of operating profit in the statement of income).
|
|
e) |
For evaluating performance of the individual business segments, stock compensation expense is allocated on the basis of straight line amortization. The differential impact of accelerated amortization of stock
compensation expense over stock compensation expense allocated to the individual business segments is reported in reconciling items. |
|
f) |
For evaluating the performance of the individual business segments, amortization of customer related intangibles acquired through business combinations are reported in reconciling items. |
|
g) |
The Company generally offers multi-year payment terms in certain total outsourcing contracts. These payment terms primarily relate to IT hardware, software and certain transformation services in outsourcing contracts.
Corporate treasury provides internal financing to the business units offering multi-year payment terms. The finance income on deferred consideration earned under these contracts is included in the revenue of the respective segment and is eliminated
under reconciling items. |
7. |
The Company has granted Nil, Nil and 30,000 options under RSU Options Plan and Nil, 35,000 and Nil options under ADS during the quarter ended December 31, 2014, September 30, 2014 and
December 31, 2013 and 2,480,000 and 30,000 options under RSU Plan and 1,689,500 and Nil options under ADS during the nine months ended December 31, 2014 and 2013, respectively and 30,000 options under RSU Plan and Nil options under ADS
during the year ended March 31, 2014. |
5
Opus Capital Markets Consultants LLC
On January 14, 2014, the Company had obtained control of Opus Capital Markets Consultants LLC (Opus) by acquiring 100% of its
share capital. Opus is a US-based provider of mortgage due diligence and risk management services. The acquisition will strengthen Wipros mortgage solutions and complement its existing offerings in mortgage origination, servicing and secondary
market.
The acquisition was executed through a share purchase agreement for a consideration of
4,589 million (US$ 75 million) which includes a deferred earn-out component of
1,285 million (US$ 21 million), which is dependent on achievement of revenues and earnings over a period of 3 years. This earn-out liability was fair valued at
782 million and recorded as part of preliminary purchase price allocation.
During the current period,
the Company concluded the fair value adjustments of the assets acquired and liabilities assumed on acquisition. Consequently, the earn-out liability was recorded at
589 million. Comparatives have not been retrospectively revised as the amounts are not material.
The
following table presents the allocation of purchase price:
|
|
|
|
|
|
|
|
|
|
|
|
|
Description |
|
Pre-acquisition carrying amount |
|
|
Fair value adjustments |
|
|
Purchase price allocated |
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
22 |
|
|
|
|
|
|
|
22 |
|
Property, plant & equipment (including software) |
|
|
160 |
|
|
|
|
|
|
|
160 |
|
Trade receivable |
|
|
456 |
|
|
|
|
|
|
|
456 |
|
Other assets |
|
|
20 |
|
|
|
|
|
|
|
20 |
|
Customer related intangibles |
|
|
|
|
|
|
234 |
|
|
|
234 |
|
Non-compete arrangement |
|
|
|
|
|
|
216 |
|
|
|
216 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
Other liabilities |
|
|
(258 |
) |
|
|
|
|
|
|
(258 |
) |
Deferred income taxes, net |
|
|
|
|
|
|
(133 |
) |
|
|
(133 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
400 |
|
|
|
317 |
|
|
|
717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill |
|
|
|
|
|
|
|
|
|
|
2,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total purchase price |
|
|
|
|
|
|
|
|
|
|
3,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The goodwill of
2,810 comprises of value of expected synergies arising from the acquisition.
As at the period end, the fair
value of earn-out liability was determined to be
144 as a result of changes in estimates of revenue and earnings over the earn-out period. The revision of the estimates inter alia has resulted in reduction in the carrying value of intangibles recognized on
acquisition. Accordingly, a net gain of
470 has been recorded in the statement of income.
The fair value of earn-out consideration as at the period
end was estimated by applying the Discounted Cash Flow approach. The fair value estimates are based on discount rate of 7% and probability adjusted revenue and earnings estimates.
6
ATCO I-Tek Inc.
On August 15, 2014, the Company obtained control of ATCO I-Tek Inc. (ATCO I-Tek) by acquiring 100% of its share capital. ATCO
I-Tek is a Canada based provider of IT services to ATCO Ltd. The acquisition will strengthen Wipros IT services delivery model in North America and Australia.
The acquisition was executed through a share purchase and sale agreement for Canada and asset sale and purchase agreement for Australia for an
all-cash consideration of
11,420 million (Canadian Dollars 204 million).
The following table presents the provisional allocation
of purchase price:
|
|
|
|
|
Description |
|
Purchase price allocated |
|
Assets |
|
|
|
|
Cash |
|
|
71 |
|
Property, plant & equipment (including capital work-in-progress and software) |
|
|
1,407 |
|
Trade receivables |
|
|
210 |
|
Other assets |
|
|
296 |
|
Customer related intangibles |
|
|
8,073 |
|
Liabilities |
|
|
|
|
Trade payables and accrued liabilities |
|
|
(755 |
) |
Deferred income taxes, net |
|
|
(2,115 |
) |
|
|
|
|
|
Total |
|
|
7,187 |
|
|
|
|
|
|
Goodwill |
|
|
4,233 |
|
|
|
|
|
|
Total purchase price |
|
|
11,420 |
|
|
|
|
|
|
The goodwill of
4,233 comprises of value of expected synergies arising from the acquisition. Goodwill is not expected to be deductible for income tax purposes. The purchase consideration was settled in cash.
If the acquisition had occurred on April 1, 2014, management estimates that consolidated revenue for the Company would have been
354,062 and the profit after taxes would have been
64,638 for nine months ended December 31, 2014. The pro-forma amounts are not necessarily indicative of the results that would have occurred if the acquisition had occurred on dates indicated or that may result in
the future.
The purchase consideration has been allocated on a provisional basis based on managements estimates. The Company is in
the process of making a final determination of the fair value of assets and liabilities. Finalization of the purchase price allocation based on an independent third party appraisal may result in certain adjustments to the above allocation.
On January 16, 2015, the Board of Directors of the Company
declared an interim dividend of
5 ($ 0.08) per equity share and ADR (250% on an equity share of par value of
2).
7
10. |
Stand-alone information (Audited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Particulars |
|
Quarter ended |
|
|
Nine Months ended |
|
|
Year ended |
|
|
|
December 31, 2014 |
|
|
September 30, 2014 |
|
|
December 31, 2013 * |
|
|
December 31, 2014 |
|
|
December 31, 2013* |
|
|
March 31, 2014 |
|
Income from Operations (Net) |
|
|
105,212 |
|
|
|
103,582 |
|
|
|
101,020 |
|
|
|
309,835 |
|
|
|
287,315 |
|
|
|
391,333 |
|
Profit before tax |
|
|
25,886 |
|
|
|
25,904 |
|
|
|
26,771 |
|
|
|
78,224 |
|
|
|
66,442 |
|
|
|
96,082 |
|
Profit after tax |
|
|
19,923 |
|
|
|
19,920 |
|
|
|
20,633 |
|
|
|
60,515 |
|
|
|
50,345 |
|
|
|
73,874 |
|
* |
Re-casted to give effect to the scheme of amalgamation of Wipro Energy IT Services India Private Limited and Wipro Technology Services Limited, (wholly owned subsidiaries) with Wipro Limited as approved by the Honorable
High Court of Karnataka, with April 1, 2013 being the appointed date. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
By order of the Board, |
|
WIPRO LIMITED |
|
|
for, Wipro Limited |
|
Regd. Office: Doddakanneli, |
Place: Bangalore |
|
Azim H Premji |
|
Sarjapur Road, Bangalore - 560 035, |
Date: January 16, 2015 |
|
Chairman |
|
www.wipro.com |
|
|
|
|
|
|
CIN: L32102KA1945PLC020800;
Registered Office: Wipro Limited, Doddakanneli, Sarjapur Road, Bangalore-560035, India
Website: www.wipro.com; Email id - info@wipro.com; Tel: +91-80-2844 0011; Fax: +91-80-2844 0054 |
8
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