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Wipro Limited
(WIPRO)
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Rating:67Neutral
Price Target:
₹193.00
▲(7.28% Upside)
Action:Downgraded
Date:07/17/26
The score is driven primarily by solid financial stability (healthy margins, low leverage, decent cash conversion) and attractive valuation (moderate P/E with a high dividend yield). These positives are tempered by weaker technical positioning (below key moving averages with negative MACD) and a mixed near-term outlook from the earnings call, including margin compression and flat-to-negative revenue guidance.
Positive Factors
Conservative balance sheet
Low leverage and a large cash/investment pool provide durable financial flexibility. This supports cyclical resilience, funds strategic investments and buybacks without stressing operations, and reduces refinancing risk—important for sustaining long-term service delivery and client commitments.
Negative Factors
Margin compression
Material margin erosion reflects wage inflation, large-deal ramps and AI investment costs. If token/inference costs, pricing competition, and ramp inefficiencies persist, margins may remain below prior bands, constraining free cash flow and limiting discretionary reinvestment or payout expansion over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a large cash/investment pool provide durable financial flexibility. This supports cyclical resilience, funds strategic investments and buybacks without stressing operations, and reduces refinancing risk—important for sustaining long-term service delivery and client commitments.
Read all positive factors
Wipro Limited (WIPRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.75T
Dividend Yield4.52%
Average Volume (3M)596.27K
Price to Earnings (P/E)14.0
Beta (1Y)0.70
Revenue Growth6.40%
EPS Growth-1.86%
CountryIN
Employees240,000
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)12.63
Shares Outstanding9,904,537,000
10 Day Avg. Volume546,005
30 Day Avg. Volume596,267
Financial Highlights & Ratios
PEG Ratio46.76
Price to Book (P/B)2.22
Price to Sales (P/S)2.12
P/FCF Ratio12.58
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹169.33Price Target Upside-5.87% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)13.27
Revenue Forecast (FY)₹987.36B
Wipro Limited Business Overview & Revenue Model
Company Description
Wipro Limited is a global provider of information technology, consulting, and business process outsourcing solutions. Its operations are organized into three primary divisions: IT Services, IT Products, and India State Run Enterprise Services (ISR...
How the Company Makes Money
Wipro primarily makes money by providing contracted IT and consulting services to enterprise customers, generating revenue from fees billed for delivering technology projects and ongoing managed services. A major revenue stream comes from long-ter...
Wipro Limited Earnings Call Summary
Earnings Call Date:Jul 16, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Oct 15, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: modest year-on-year revenue growth, strong order bookings, a clear strategic pivot to AI with acquisitions and capability investments, and a healthy balance sheet and shareholder returns. Offsetting these positives were notable margin compression (120 bps), significant regional weakness in the Americas, sequential revenue decline, softness in EMR and healthcare verticals, and near-term guidance that is flat-to-negative. Management emphasized a healthy pipeline and long-term AI opportunity but acknowledged short-term execution and margin pressures.Positive Updates
Year-on-Year Revenue Growth
IT services revenue for Q1 was $2.61 billion, up 0.9% year-on-year (constant currency).
Negative Updates
Margin Compression
IT services operating margin was 16.0%, down 1.2 percentage points year-on-year (120 basis points). Management cited salary increases, ramp-ups from large deals, and AI investments as primary drivers of margin decline, partially offset by rupee depreciation and operational efficiencies.
Read all updates
Q1-2027 Updates
Positive
Negative
Year-on-Year Revenue Growth
IT services revenue for Q1 was $2.61 billion, up 0.9% year-on-year (constant currency).
Read all positive updates
Company Guidance
Wipro guided Q2 IT services revenue of $2.574–$2.627 billion (a sequential change of -1.5% to +0.5% in constant currency), while reiterating the objective to return to its previously stated narrow margin band (~17–17.5%); this follows Q1 IT services revenue of $2.61 billion (up 0.9% YoY, down 1.2% QoQ) and an IT services margin of 16% (down 120 bps YoY) — impacts in Q1 were attributed to salary increases, ramps from large deals and AI investments, partially offset by rupee depreciation and operational efficiencies. Q1 bookings were $3.4 billion with $1.6 billion in large deal bookings (13 large deals), reported income of $33.6 billion and EPS of INR 3.2 (both +0.6% YoY), operating cash flow at 98% of net income, gross cash + investments of $4.3 billion, accounting yield in India at 7.2%, an ETR of 22.6%, an interim dividend of INR 2 and over $3 billion returned to shareholders in the last year.Wipro Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 949.68B | 926.24B | 890.88B | 897.60B | 904.88B | 790.93B |
| Gross Profit | 275.83B | 270.05B | 273.08B | 266.11B | 259.43B | 235.06B |
| EBITDA | 200.82B | 215.28B | 212.63B | 187.84B | 187.07B | 187.51B |
| Net Income | 132.19B | 131.97B | 131.35B | 110.45B | 113.50B | 122.19B |
Balance Sheet | ||||||
| Total Assets | 1.32T | 1.42T | 1.29T | 1.15T | 1.18T | 1.08T |
| Cash, Cash Equivalents and Short-Term Investments | 395.73B | 543.24B | 533.45B | 408.12B | 401.11B | 345.49B |
| Total Debt | 212.82B | 202.91B | 192.03B | 164.65B | 174.67B | 175.93B |
| Total Liabilities | 540.32B | 531.38B | 456.07B | 401.24B | 394.07B | 420.51B |
| Stockholders Equity | 750.76B | 885.37B | 828.31B | 749.88B | 781.16B | 658.16B |
Cash Flow | ||||||
| Free Cash Flow | 142.72B | 156.26B | 154.39B | 165.71B | 115.77B | 90.64B |
| Operating Cash Flow | 158.96B | 171.86B | 169.43B | 176.22B | 130.60B | 110.80B |
| Investing Cash Flow | 39.21B | -62.87B | -80.73B | 11.68B | -84.06B | -224.50B |
| Financing Cash Flow | -242.56B | -134.35B | -63.96B | -182.57B | -60.88B | 46.59B |
Wipro Limited Technical Analysis
Negative
179.90
Price Trends
178.26
Negative
185.40
Negative
205.80
Negative
Market Momentum
-0.78
Positive
42.11
Neutral
10.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WIPRO, the sentiment is Negative. The current price of 179.9 is below the 20-day moving average (MA) of 180.55, above the 50-day MA of 178.26, and below the 200-day MA of 205.80, indicating a bearish trend. The MACD of -0.78 indicates Positive momentum. The RSI at 42.11 is Neutral, neither overbought nor oversold. The STOCH value of 10.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WIPRO.
Wipro Limited Risk Analysis
Wipro Limited disclosed 62 risk factors in its most recent earnings report. Wipro Limited reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wipro Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹3.51T | 20.01 | ― | 4.64% | 12.59% | 2.65% | |
76 Outperform | ₹8.32T | 16.74 | ― | 4.82% | 7.70% | 1.07% | |
75 Outperform | ₹1.35T | 26.78 | ― | 2.52% | 13.87% | 10.72% | |
74 Outperform | ₹4.59T | 14.58 | ― | 4.25% | 5.76% | 12.64% | |
70 Outperform | ₹1.56T | 27.56 | ― | 3.20% | 10.95% | 12.97% | |
67 Neutral | ₹1.75T | 13.97 | ― | 4.52% | 6.40% | -1.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:WIPRO
Wipro Limited
176.80
-56.97
-24.37%
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Wipro Limited Corporate Events
Wipro Issues New Shares on Exercise of Employee Stock Options
Jun 10, 2026
Wipro Limited has allotted new equity shares under several long-standing and recent employee stock and restricted stock unit plans, including schemes dating from 2004 and 2007 as well as its 2024 stock option and performance share program. The sha...
Wipro Launches ₹15,000 Crore Share Buyback at ₹250 a Share
Jun 9, 2026
Wipro Limited has launched a share buyback offer for up to 600 million fully paid equity shares, representing 5.72% of its paid-up equity capital, at ₹250 per share for a total consideration of ₹15,000 crore. The tender offer, conducte...
Wipro Puts 2026 Form 20-F Online for ADS Investors
Jun 3, 2026
Wipro Limited has filed its Annual Report on Form 20-F for the year ended March 31, 2026, with the U.S. Securities and Exchange Commission and is making the document available online to American Depositary Share holders instead of sending physical...
Wipro Subsidiary Fast-Tracks Additional 20% Stake Acquisition in Aggne Global
Jun 2, 2026
Wipro Limited has announced that its step-down subsidiary, Wipro IT Services, LLC, has completed the acquisition of an additional 20% stake in Aggne Global Inc., strengthening its ownership position in the entity. The transaction, previously expec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.