Wipro

Wipro Limited
Public
Traded as BSE: 507685
NSE: WIPRO
NYSE: WIT
BSE SENSEX Constituent
CNX Nifty Constituent
Industry IT services, IT consulting
Founded 29 December 1945
(Mumbai, Maharashtra)
Founder Mohamed Hasham Premji[1]
Headquarters Bangalore, Karnataka, India
Area served
 Worldwide
Key people
 Azim Premji (Chairman)
Abidali Neemuchwala (CEO)
Services Digital Strategy, Business Consulting and IT Services
Revenue Increase US$7.735 billion (2016)[2]
Increase US$1.463 billion (2016)[2]
Profit Increase US$1.348 billion (2016)[2]
Total assets Increase US$10.94 billion (2016)[2]
Total equity Increase US$7.070 billion (2016)[2]
Number of employees
 172,912 (2016)[2]
Website www.wipro.com

Wipro Limited (Western India Palm Refined Oils Limited[3][4] or more recently, Western India Products Limited[1]) is an Indian Multinational Information Technology Services corporation headquartered in Bangalore, India.[5]

In 2013, Wipro demerged its non-IT businesses into a separate companies to bring in more focus on independent businesses.[6] As of Dec 2015, Wipro's market capitalization was $45 Billion, making it one of India's largest publicly traded companies and seventh largest IT Corporation in the World.

History

Early formative years

The company was incorporated on 29 December 1945, in Mumbai by Mohamed Premji as 'Western India Palm Refined Oil Limited', later abbreviated to 'Wipro'. It was initially set up as a manufacturer of vegetable and refined oils in Mumbai, Maharashtra, India under the trade names of Kisan, Sunflower and Camel.[1][7] The company logo still contains a sunflower to reflect products of the original business.

In 1966, after Mohamed Premji’s death, his son Azim Premji returned home from Stanford University and took over Wipro as its chairman at the age of 21.[8][9]

During the 1970s and 1980s, the company shifted its focus to new business opportunities in the IT and computing industry, which was at a nascent stage in India at the time. On 7 June 1977, the name of the company changed from Western India Vegetable Products Limited, to Wipro Products Limited.[7]

The year 1980 marked the arrival of Wipro in the IT domain. In 1982, the name was changed from Wipro Products Limited to Wipro Limited.[10] Meanwhile, Wipro continued to expand in the consumer products domain with the launch of "Ralak" a tulsi-based family soap and "Wipro Jasmine", a toilet soap.[7]

1966–1992

In 1988, Wipro diversified its product line into heavy-duty industrial cylinders and mobile hydraulic cylinders.[7] A joint venture company with the United States' General Electric in the name of Wipro GE Medical Systems Pvt. Ltd. was set up in 1989 for the manufacture, sales, and service of diagnostic and imaging products.[11] Later, in 1991, tipping systems and Eaton hydraulic products were launched. The Wipro Fluid Power division, in 1992, developed expertise to offer standard hydraulic cylinders for construction equipment and truck tipping systems. The market saw the launch of the "Santoor" talcum powder and "Wipro Baby Soft" range of baby toiletries in 1990.[11]

1994–2000

In 1995, Wipro set up an overseas design centre, Odyssey 21, for undertaking projects and product developments in advanced technologies for overseas clients. Wipro Infotech and Wipro Systems were amalgamated with Wipro in April that year.[11] Five of Wipro's manufacturing and development facilities secured the ISO 9001 certification during 1994–95. In 1999, Wipro acquired Wipro Acer.[12] Wipro became a more profitable, diversified corporation with new products such as the Wipro SuperGenius personal computers (PCs). In 1999, the product was the one Indian PC range to obtain US-based National Software Testing Laboratory (NSTL) certification for the Year 2000 (Y2K) compliance in hardware for all models.[13]

Wipro Limited joined hands with a global telecom major KPN (Royal Dutch telecom) to form a joint venture company "Wipro Net Limited" to provide internet services in India.[9] The year 2000 was the year Wipro launched solutions for convergent networks targeted at Internet and telecom solution providers in the names of Wipro OSS Smart and Wipro WAP Smart.[14] In the same year, Wipro got listed on New York Stock Exchange.[15] In early 2000 Wipro Vice Chairman Vivek Paul and Azim Premji approached KPMG Consulting Vice Chairman Keyur Patel and CEO Rand Blazer to form an mega-outsourcing joint venture between the two organizations..

2001–present

In February 2002, Wipro became the first software technology and services company in India to be certified for ISO 14001 certification.[16] Wipro also achieved ISO 9000 certification to become the first software company to get SEI CMM Level 5 in 2002.[17][18] Wipro Consumer Care and Lighting Group entered the market of compact fluorescent lamps, with the launch of a range of CFL, under the brand name of Wipro Smartlite.[19] As the company grew, a study revealed that Wipro was the fastest wealth creator for 5 years (1997–2002).[20][21] The same year witnessed the launch of Wipro’s own laptops with Intel's Centrino mobile processor.[22] Wipro also entered into an exclusive agreement with the owners of Chandrika for marketing of their soap in select states in India.[23][24] It set up a wholly owned subsidiary company viz. Wipro Consumer Care Limited to manufacture consumer care and lighting products.[25] In 2004 Wipro joined the billion dollar club.[26] It also partnered with Intel for i-shiksha.[27][28] The year 2006 saw Wipro acquire cMango Inc., a US-based technology infrastructure Consulting firm[29][30] Enabler, and a Europe-based retail solutions provider.[31] In 2007, Wipro signed a large deal with Lockheed Martin.[32][33] It also entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS)[33][34] and signed an R&D partnership contract with Nokia Siemens Networks in Germany.[35][36]

In 2008 Wipro’s entered the clean energy business with Wipro Eco Energy.[37][38] In April 2011, Wipro signed an agreement with Science Applications International Corporation (SAIC) for the acquisition of their global oil and gas information technology practice of the commercial business services business unit.[39][40] In 2012 Wipro acquired Australian Trade Promotions Management firm Promax Applications Group (PAG) for $35 million.[41][42] In 2012 Wipro employed more than 70,000 H-1B visa professional temporary workers in the United States.[43]

In 2012 Wipro Ltd. announced the demerger of its consumer care, lighting, furniture, infrastructure Engineering (hydraulicsand water and medical diagnostic business into a separate company to be named Wipro Enterprises Ltd.[44] The merger became effective from 31 March 2013.[45][46] The demerged companies together contributed about 10% of the revenues of Wipro Limited in previous financial year.[47][48]

In 2014, Wipro signed a 10-year $1.2 billion contract with ATCO, a Canadian Energy & Utilities corporation based out of Calgary, Alberta. This was the largest deal in Wipro's history.[49]

Wipro Group of Companies

Wipro

Wipro Limited is a global company provider of comprehensive IT solutions and services, including Systems Integration, Consulting, Information Systems outsourcing, IT-enabled services, R&D services, re-seller of desktops, servers, notebooks, storage products, networking solutions and packaged software for international brands.[50]

Wipro entered into the technology business in 1981 and has over 140,000 employees and clients across 54 countries.[51] IT revenues were at $7.1 billion for the year ended 31 March 2015, with a repeat business ratio of over 95%.[52][53]

Wipro Consumer Care & Lighting

Wipro Consumer Care and Lighting (WCCLG), a business unit of Wipro Limited operates in the FMCG segment dealing in consumable commodities. Established in 1945, its first product was vegetable oil, later sold under the brand name "Sunflower Vanaspati". It sells personal care products, such as Wipro Baby Soft and Wipro Safewash, toilet soaps Santoor and Chandrika as well as Yardley.[54] It sells lighting products, including Smartlite CFL,[55] LED, and emergency lights.[56]

Through product sales and acquisitions, Wipro Consumer Care and Lighting has grown steadily in the FMCG segment.[57][58][59]

Wipro Infrastructure Engineering

Wipro Infrastructure Engineering is the hydraulics business division of Wipro Limited and has been in the business of manufacturing hydraulic cylinders, truck cylinders, and their components and solutions since 1976. This division delivers hydraulic cylinders to international OEMs and represents the Kawasaki, Sun Hydraulics[60] and Teijin Seiki range of hydraulic products in India.[61] It has entered into partnerships Kawasaki[62][63] and aerospace giant EADS.[64] In 2010 Wipro Infrastructure Engineering was the second largest independent manufacturer of hydraulic cylinders in the world.[65]

Wipro GE Medical Systems

Wipro GE Medical Systems Limited is Wipro’s joint venture with GE Healthcare South Asia. It is engaged in the research and development of advanced solutions to cater to patient and customer needs in healthcare. This partnership, which began in 1990,[66] today includes gadgets and equipment for diagnostics, healthcare IT solutions and services to help healthcare professionals combat cancer, heart disease, and other ailments. There is complete adherence to Six Sigma quality standards in all products.[67][68][69]

Sustainability at Wipro

Wipro has been ranked 1st in the 2010 Asian Sustainability Rating (ASRTM) of Indian companies[70] and is a member of the NASDAQ Global Sustainability Index[71] as well as the Dow Jones Sustainability Index.[72]

In November 2012 Guide to Greener Electronics, Greenpeace ranked Wipro first with a score of 7.1/10.[73]

Listing and shareholding

Listing: Wipro's equity shares are listed on Bombay Stock Exchange where it is a constituent of the BSE SENSEX index,[74] and the National Stock Exchange of India where it is a constituent of the S&P CNX Nifty.[75] The American Depositary Shares of the company are listed at the NYSE since October 2000.[76]

Shareholding: On 30 September 2013, 73.51% of the equity shares of the company were owned by the promoters: Azim Premji, his family members, partnership firms in which he is a partner and Trusts formed by him/his family. The remaining 26.49% shares are owned by others.

Shareholders (as on 20-January-2016) Shareholding
Promoter group led by Azim Premji73.36%
Foreign Institutional Investors (FII)10.68%
Indian Public04.99%
Bodies Corporate02.50%
Mutual Funds/UTI01.90%
NRI01.11%
Trusts/Others0.77%
American Depositary Shares02.30%
Total100.0%

Employees

At the end of December 31, 2015, its employee strength was 170,664.[77] Abid Ali Neemuchwala was appointed as Wipro's CEO after T. K. stepped down in early 2016.[78]

Awards and recognitions

See also

References

  1. 1 2 3 "Wipro: From a vegetable oil maker to an IT major". NDTV Profit. Retrieved 15 November 2013.
  2. 1 2 3 4 5 6 "Wipro Financial Statements 2016". Wipro Ltd.
  3. ↑ "Premji, chairman of Wipro Ltd, presents quarterly results". Yahoo Finance India. 10 February 2013.
  4. ↑ "Wipro's bagful of ideas". Business Today. 29 November 2009.
  5. ↑ "Wipro Ltd. - Company Information". The New York Times. Retrieved 17 November 2013.
  6. ↑ "Wipro falls 12% as stock adjusts to demerger". The Hindu. 12 April 2013. Retrieved 17 November 2013.
  7. 1 2 3 4 "Company History of Wipro". Money Control. Retrieved 15 November 2013.
  8. ↑ "Billionaire Profile: Azim Premji". Mens XP.
  9. 1 2 "Wipro acquires 45 per cent of Wipro Net from KPN Telecom". The Financial Express. Archived from the original on 22 May 2013.
  10. ↑ "Company profile for Wipro". Reuters.
  11. 1 2 3 "Company History — Wipro". The Economic Times. Economic Times. Retrieved 17 November 2013.
  12. ↑ "Corporate Round-up". Capital Market. 2 May 1999. Retrieved 17 November 2013.
  13. ↑ "In brief". The Financial Express. 16 February 1999. Retrieved 15 November 2013.
  14. ↑ "Wipro releases WAP solutions". The Hindu. 16 June 2000. Retrieved 17 November 2013.
  15. ↑ "Wipro lists on NYSE with marginal premium". 19 October 2000. Retrieved 16 July 2013.
  16. ↑ "Wipro Tech gets ISO 14001". Business Line. 9 February 2001. Archived from the original on 12 November 2013. Retrieved 17 November 2013.
  17. ↑ "Wipro world's first to achieve level 5 in people's assessment". Rediff.
  18. ↑ "Software Engineering Institute". The Economic Times.
  19. ↑ "Wipro Lighting launches new range". Business Line. Archived from the original on 12 November 2013.
  20. ↑ "Wipro Is Fastest Wealth Creator For 5 Years: Study". The Financial Express.
  21. ↑ "Wipro is biggest wealth creator during 1998-2003: Study". Business Line.
  22. ↑ "Acer, Wipro laptops have new wi-fi chips". Business Line.
  23. ↑ "Wipro To Market Chandrika Soap in Select States". The Financial Express.
  24. ↑ "Wipro buys lease rights of Chandrika soap". Business Standards.
  25. ↑ "Wipro to set up consumer care unit in Himachal". Business Standards.
  26. ↑ "Wipro joins billion dollar club, announces 2:1 bonus shares". The Hindu.
  27. ↑ "Wipro and Intel launch 'I-Shiksha' solution". The Economic Times.
  28. ↑ "Wipro, Intel Join Forces to Launch i-shiksha". Channel Times.
  29. ↑ "Wipro buys US-based cMango for $20M". Business Line.
  30. ↑ "Wipro bags US consulting co cMango". The Economic Times.
  31. ↑ "India's Wipro acquires Enabler". CNET News.
  32. ↑ "Lockheed Martin, Wipro To Light Ambar Jyoti in India". EFYTimes.
  33. 1 2 "Wipro, Lockheed Martin start ops in Gurgaon". The Economic Times.
  34. ↑ "Wipro to Acquire Oki's Wireless Chip Design Arm". PC World.
  35. ↑ "Wipro to manage R&D for Nokia Siemens". Reuters.
  36. ↑ "Wipro to buy Nokia Siemens R&D unit in Berlin". EE Times Asia.
  37. ↑ "The Inside Story of Azim Premji's Next Billion Dollar Plan". Forbes.
  38. ↑ {{cite web | publisher = Business Today | title = Stable, yet supple | url = http://businesstoday.intoday.in/story/stable,-yet-supple/1/5121.html|author=}Rahul Sachitanand|date=February 7, 2010}
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  40. ↑ "India's Wipro to buy SAIC energy tech biz for $150 mln". Reuter.
  41. ↑ "Wipro to acquire Australia's Promax Applications Group for Rs 192 crore". The Economic Times.
  42. ↑ "Wipro to buy analytics firm Promax for $36 mn". Business Standard.
  43. ↑ "Top 10 Employers" (PDF). H-1B Temporary Visa Program — Selected Statistics, FY 2012. OFFICE OF FOREIGN LABOR CERTIFICATION. Retrieved 9 June 2013.
  44. ↑ "Wipro hives off non-IT business into separate company". The Economic Times. 1 November 2012. Retrieved 15 November 2013.
  45. ↑ "Wipro's Scheme of Arrangement for Demerger Effective from March 31, 2013". Wipro. 2 April 2013. Retrieved 15 November 2013.
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  48. ↑ "Azim Premji says son Rishad will never be CEO of Wipro". Indian Express. 23 January 2013. Retrieved 16 November 2013.
  49. ↑ "Wipro buys Canadian firm Atco I-Tek for $195 million". The Times of India. 18 July 2014.
  50. ↑ "Company Profile for Wipro". Reuters.
  51. ↑ "Wipro launches iPhone app". The Times of India.
  52. ↑ "Results for the quarter and year ended March 31, 2013 under IFRS" (PDF). Wipro.
  53. ↑ "Industry, Materials and Utilities". Reuters.
  54. ↑ "Wipro Consumer Care & Lighting to launch Glucose tablets". The Economic Times.
  55. ↑ "Wipro sees high demand for CFL bulbs". Business Standard.
  56. ↑ "Company Overview of Wipro Consumer Care and Lighting Ltd.". Bloomberg BusinessWeek.
  57. ↑ "Wipro's Santoor is largest soap brand in South India". The Economic Times.
  58. ↑ "Wipro FMCG arm reports 26% rise in revenues on strong demand". The Financial Express.
  59. ↑ "Yardley's proof of Wipro's FMCG focus". The Economic Times.
  60. ↑ "Company History — Wipro Ltd". The Economic Times.
  61. ↑ "Wipro, Kawasaki in talks for hydraulic oil pumps". Business Line. Archived from the original on 5 November 2013.
  62. ↑ "Wipro, Kawasaki enter into a joint venture". CIOL. Archived from the original on 7 October 2012.
  63. ↑ "Wipro Infrastructure Engineering to set up Rs 50 cr plant in Bangalore". The Economic Times.
  64. ↑ "Wipro Infrastructure Engineering ties up with EADS arm". The Economic Times.
  65. ↑ "Pumping up the world". Made in India.
  66. ↑ "Wipro GE to consolidate healthcare biz". Business Standard.
  67. ↑ "About Wipro GE Healthcare". GE Healthcare.
  68. ↑ "Six Sigma has worked wonders for Wipro GE". The Financial Express.
  69. ↑ "Six Sigma has worked wonders for Wipro GE". The Financial Express.
  70. ↑ "Wipro continues to lead in sustainability disclosures". Business Standard.
  71. ↑ "Nasdaq-100 includes Wipro in Global Sustainability Index". Business Line.
  72. ↑ "Wipro Named Among World's Most Ethical Companies". EFYTimes.
  73. ↑ "Guide to Greener Electronics 18 | WIPRO". Greenpeace. November 2012.
  74. ↑ "Scripwise Weightages in S&P BSE SENSEX". BSE India. Retrieved 16 November 2013.
  75. ↑ "Download List of CNX Nifty stocks (.csv)". NSE India. Retrieved 16 November 2013.
  76. ↑ "Form 20F". SEC.gov. 12 June 2013. Retrieved 17 November 2013.
  77. ↑ "Top five takeaways from Wipro Q3 earnings". timesofindia-economictimes. Retrieved 2016-02-25.
  78. ↑ "Wipro names Abid Ali Neemuchwala as CEO". The Hindu. 2016-01-04. ISSN 0971-751X. Retrieved 2016-02-25.
  79. ↑ "Wipro on Forbes Global 2000". Forbes. May 2013. Retrieved 16 November 2013.
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  81. ↑ "6 ways to ensure inclusivity and diversity at workplaces". Data Quest. 28 January 2013. Retrieved 16 November 2013.
  82. ↑ "Wipro in highest category of stakeholder value creation: Icra". Economic Times. 10 February 2004. Retrieved 16 November 2013.
  83. ↑ "Corporate governance award for Wipro". The Hindu. 21 December 2004. Retrieved 16 November 2013.
  84. ↑ "India's Most Trusted Brands 2014".
  85. ↑ "Wipro Voted World’s Most Ethical Firm".
  86. ↑ "Tata Steel, Wipro among world’s most ethical". Hindustan Times. 18 March 2012. Retrieved 16 November 2013.
  87. ↑ "Wipro World’s Most Ethical company : Ethisphere Institute". indiainfoline.com. 7 March 2013. Retrieved 16 November 2013.
  88. ↑ "Wipro won Gold Award for ‘Integrated Security Assurance Service (iSAS)’".
  89. ↑ "Wipro won 7 awards, including Best Managed IT Services and Best System Integrator in the CIO Choice Awards 2015, India’".
  90. "Wipro Wins National Telecom Awards 2011". EFYTimes.
  91. "Wipro reorganizes to simplify". The Times of India.
  92. "Wipro restructures to take on TCS, Infosys, Cognizant; senior managers exit, 6 verticals created". The Economic Times.

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