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Wipro Limited
(WIPRO)
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Rating:71Outperform
Price Target:
₹192.00
▲(6.73% Upside)
Action:Upgraded
Date:10/16/26
The score is driven primarily by solid fundamentals—strong free cash flow, healthy margins, and manageable leverage—offset by slow revenue growth and near-term guidance pressure. Technicals are mixed (improving short-term trend but negative MACD and still below longer-term averages), while valuation is reasonable and the earnings call supports a cautious outlook with pipeline strength but limited near-term growth visibility.
Positive Factors
Strong cash generation
Wipro converts earnings into substantial cash, supporting reinvestment, client delivery, and shareholder returns without relying heavily on external financing. The close relationship between free cash flow and net income also indicates solid earnings quality and provides resilience through changing demand conditions.
Negative Factors
Muted revenue growth
Slow top-line expansion limits operating leverage and makes it harder for Wipro to accelerate earnings despite healthy profitability. Persistently modest growth can also constrain investment capacity and suggests that recent demand has not yet translated into broad-based revenue momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Wipro converts earnings into substantial cash, supporting reinvestment, client delivery, and shareholder returns without relying heavily on external financing. The close relationship between free cash flow and net income also indicates solid earnings quality and provides resilience through changing demand conditions.
Read all positive factors
Wipro Limited (WIPRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.82T
Dividend Yield1.09%
Average Volume (3M)802.84K
Price to Earnings (P/E)14.5
Beta (1Y)0.82
Revenue Growth8.22%
EPS Growth-1.14%
CountryIN
Employees240,000
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)12.75
Shares Outstanding9,905,431,000
10 Day Avg. Volume1,020,200
30 Day Avg. Volume802,835
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
₹149.00Price Target Upside-17.18% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering2
EPS Forecast (FY)13.21
Revenue Forecast (FY)₹992.95B
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:Oct 15, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 13, 2027
Earnings Call Sentiment Positive
The call was cautiously optimistic. Current revenue growth remained limited, healthcare and parts of the Americas and technology businesses were weak, Q3 guidance included seasonal pressure, and some deals were delayed. However, management emphasized strong AI momentum, resilient BFSI demand, improving EMR and consumer traction, robust cash generation, strategic investment benefits, and a strong pipeline with expectations for better deal closures and potential Q4 revenue support.Positive Updates
Operating Margin Expansion
Q2 IT services revenue was $2.61 billion, flat sequentially and up 0.6% year on year in constant currency. Operating margin was 16.5%, an improvement of 0.5% sequentially, supported by operational improvements and rupee depreciation.
Negative Updates
Limited Revenue Growth
Q2 IT services revenue was flat sequentially and increased only 0.6% year on year in constant currency.
Read all updates
Q2-2027 Updates
Positive
Negative
Operating Margin Expansion
Q2 IT services revenue was $2.61 billion, flat sequentially and up 0.6% year on year in constant currency. Operating margin was 16.5%, an improvement of 0.5% sequentially, supported by operational improvements and rupee depreciation.
Read all positive updates
Company Guidance
For Q3, Wipro is guiding for IT services revenue of $2.571 billion to $2.625 billion, translating to sequential growth of -1.5% to +0.5% in constant currency terms; Q3 will remain impacted by seasonal furloughs, which are expected to be broadly in line with what we saw last year, with lower number of working days also included in the guidance. The company expects health to benefit on account of seasonality in quarter 3, though not to the extent seen in previous years, is confident of securing both delayed large deals, and expects some deals to be closed in the early half of this quarter, which should increase confidence for the outlook for Q4 and have a positive impact on quarter 4, outlook for revenue. Management said it is endeavoring to continuously improve margins and would like to get back to the band as quickly as possible, but is not putting a timeline out there; it does not guide for the year and guides only for the quarter.Wipro Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 970.23B | 926.24B | 890.88B | 897.60B | 904.88B | 790.93B |
| Gross Profit | 280.15B | 270.05B | 273.08B | 266.11B | 259.43B | 235.06B |
| EBITDA | 204.28B | 215.28B | 213.78B | 189.54B | 187.07B | 187.51B |
| Net Income | 131.73B | 131.97B | 131.35B | 110.45B | 113.50B | 122.19B |
Balance Sheet | ||||||
| Total Assets | 1.36T | 1.42T | 1.29T | 1.15T | 1.18T | 1.08T |
| Cash, Cash Equivalents and Short-Term Investments | 436.54B | 543.24B | 533.45B | 408.12B | 401.11B | 345.49B |
| Total Debt | 194.59B | 202.91B | 192.03B | 164.65B | 174.67B | 175.93B |
| Total Liabilities | 585.80B | 531.38B | 456.07B | 401.24B | 394.07B | 420.51B |
| Stockholders Equity | 772.99B | 885.37B | 828.31B | 749.88B | 781.16B | 658.16B |
Cash Flow | ||||||
| Free Cash Flow | 165.41B | 156.26B | 154.39B | 165.71B | 115.77B | 90.64B |
| Operating Cash Flow | 182.54B | 171.86B | 169.43B | 176.22B | 130.60B | 110.80B |
| Investing Cash Flow | -20.74B | -62.87B | -80.73B | 11.68B | -84.06B | -224.50B |
| Financing Cash Flow | -202.74B | -134.35B | -63.96B | -182.57B | -60.88B | 46.59B |
Wipro Limited Technical Analysis
Positive
179.90
Price Trends
172.80
Positive
175.46
Positive
192.21
Negative
Market Momentum
5.43
Negative
62.57
Neutral
63.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WIPRO, the sentiment is Positive. The current price of 179.9 is above the 20-day moving average (MA) of 172.47, above the 50-day MA of 172.80, and below the 200-day MA of 192.21, indicating a neutral trend. The MACD of 5.43 indicates Negative momentum. The RSI at 62.57 is Neutral, neither overbought nor oversold. The STOCH value of 63.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ₹3.80T | 20.69 | ― | 4.28% | 12.76% | 7.96% | |
77 Outperform | ₹4.56T | 19.85 | ― | 4.27% | 6.35% | 11.51% | |
77 Outperform | ₹8.89T | 17.25 | ― | 4.55% | 9.92% | 4.39% | |
73 Outperform | ₹1.22T | 26.78 | ― | 2.61% | 14.67% | 7.26% | |
73 Outperform | ₹1.74T | 28.49 | ― | 2.87% | 13.60% | 23.11% | |
71 Outperform | ₹1.82T | 14.47 | ― | 1.09% | 8.22% | -1.14% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:WIPRO
Wipro Limited
184.15
-49.38
-21.15%
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Wipro Limited Corporate Events
Wipro downplays impact of U.S. PERM suspension, cites strong local workforce
Oct 13, 2026
Wipro Limited, a global provider of information technology services and consulting, derives a significant portion of its business from the U.S. market and has steadily increased local hiring there. More than 80% of its U.S. workforce is now locall...
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.