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Wipro Ltd.

BSE: 507685 Sector: IT
NSE: WIPRO ISIN Code: INE075A01022
BSE 00:00 | 02 Dec 412.35 -1.25
(-0.30%)
OPEN

414.70

HIGH

414.70

LOW

409.10

NSE 00:00 | 02 Dec 412.40 -1.30
(-0.31%)
OPEN

413.80

HIGH

413.90

LOW

409.05

OPEN 414.70
PREVIOUS CLOSE 413.60
VOLUME 345369
52-Week high 726.70
52-Week low 372.40
P/E 18.18
Mkt Cap.(Rs cr) 226,228
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 414.70
CLOSE 413.60
VOLUME 345369
52-Week high 726.70
52-Week low 372.40
P/E 18.18
Mkt Cap.(Rs cr) 226,228
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Wipro Ltd. (WIPRO) - Chairman Speech

Company chairman speech

Dear Stakeholders

I want to begin by acknowledging a historic milestone - Wipro crossed$10 billion in revenue this year. Congratulations!

From this vantage point it seems impossible to believe that Wipro wasfounded as a tiny oil mill in Amalner Western India in 1945. No one could have predictedthat one day it would morph into a global technology company with a presence across 66countries employing over 240000 people. I feel humbled by the progress we have made inour 75-plus years but also immensely proud that we accomplished this while remainingcompletely committed to our values.

1945 was an extremely difficult year for the world. World war II hadjust ended and a large part of the world lay in ruins. India was still under colonialrule and facing an uncertain future.

The post-war world though saw one of the greatest periods of economicexpansion in human history.

Today we find ourselves at another crossroads. The pandemic is not yetover. Inflation is soaring. An armed international conflict is underway. The globaleconomy is facing an uncertain future and we are staring at a huge climate and energycrisis.

And yet I remain optimistic. Because I believe that grave crises carrywithin them seeds of great possibilities. The fact that we had a Covid vaccine within ayear of the outbreak and that two-thirds of the world population has already received atleast one dose of the vaccine is testament to that belief.

Driven by the pandemic all of us -individuals and businesses - havediscovered new ways to work together at scale with technology. Demand for digital clouddata and cybersecurity services will continue to grow as more of our customers adapt tothe new world order. The long-term prospects of the technology services industry look verygood.

We at Wipro are doing everything we can to seize this moment.

Wipro has witnessed a significant amount of change in the last twoyears. Thierry joined us in July 2020. He has given Wipro a new direction by drivingchange while building on our very strong legacy and core strengths of the organization.

We have completely transformed our structure and our operating model.We have gone from being industry- organized to being market-organized (supported by ourglobal capability units). We have added new talent across the board with particularemphasis on women leaders.

Our leadership team is more diverse now with a great combination ofnew and old. We have several new leaders who bring in a new mindset even as we havenearly half the many leaders in the top 200 mark a decade or more in Wipro.

We are much more growth-obsessed than before. We are driving deepstrategic partnerships with hyperscalers and increasing our focus on large deals. We haveinvested in a Chief Growth Office function - a first for the company -and changed theseniority and maturity of our sales leaders.

We have invested significantly in acquisitions either for gainingmarket access or for acquiring new capabilities. Lastyear we acquired Capco. It has beenatremendous addition in the banking and financial space crossing a $1 billion run rateand allowing us to offer end-to-end capability - from thinking to designing to buildingand running - to our customers.

Cloud is at the core of most transformation initiatives with asignificant headroom for growth in the coming years. We have long been a cloud servicespioneer. We are investing $1 billion in Wipro FullStride Cloud Services over the next fewyears to deliver an orchestrated transformation that accelerates business results forclients.

We will continue our investments - in building capabilities andacquiring market leading talent - in strategic growth areas such as cyber data AI andour engineering business. The future of technology is exciting and opportunity rich. Weare accelerating our investments in our Topcoder platform and in emerging areas such asMetaverse Web 3.0 Robotics self-learning AI and privacy systems.

We are very proud of our culture and values. It is a hugedifferentiator for us and it is important that people experience that. We are aware thata significant percentage of our recruits in the last 12 months haven't walked into a Wiprooffice or engaged with people beyond their immediate project. And while we will continueto work in a hybrid model we are aware that culture and connectedness grow when peoplemeet each other.

So my focus remains on our people. One of the things we are driving isthe Five Habits. Our big learning is that people don't experience our values - theyexperience our behaviors through which they interpret our values. The Five Habits takesour values closer to our people as I have discussed with 29000 Wipro employees over 94sessions.

We at Wipro believe our story is deeply connected to our communities.66% of the economic interest in Wipro is irrevocably pledged for philanthropy through theefforts of Azim Premji Foundation. The Foundation works tirelessly to create at-scaleinstitutionalized changes in the quality of education in India as well as in other areasincluding working with vulnerable groups health nutrition and governance.

One of the biggest challenges facing the world today is climate change.While it's encouraging to see governments business and civil society step up to thechallenge much remains to be done. Wipro's climate change program goes back 15 years andhas evolved into a mature yet dynamically responsive set of initiatives. In April 2021 weannounced our goal of achieving ‘Net ZeroRs.greenhouse gas emissions by 2040. We havea clear roadmap for the short and medium terms with targets of 100% renewable energy and100% electric mobility by 2030. We were one of the first seven companies globally to havetheir Net Zero targets validated by Science Based Targets initiative.

Our business strategy prioritizes reaching our goals in a maximallyresponsible manner. Inclusion is a way of life at Wipro. Various programs and initiativeshave helped us to nearly double the gender diversity at senior leadership levels in FY'22.Overall we are at 36.1% gender diversity.

To foster a safe workplace for LGBTQ+ employees and protect them frombias and discrimination we launched the Global Prevention of LGBTQ+ Discrimination Policylast year. We also took several steps to advance an inclusive work environment for Blackemployees from introducing a holiday on Martin Luther King Day to strategicallyrecruiting from Historically Black colleges and universities (HBCUs).

This financial year has been a momentous year for Wipro and I wouldlike to express my gratitude to our clients partners employees and other stakeholdersfor reposing their trust and confidence in us. I am very excited about the progress wehave made the path we are on and confident of building on this incredible momentum.

Rishad A. Premji

Chairman

.