Wipro Limited (Western India Palm Refined Oils Limited or more recently, Western India Products Limited) is an Indian Information Technology Services corporation headquartered in Bengaluru, India.
Logo since 2017
|Industry||IT services, IT consulting|
29 December 1945|
|Services||Digital Strategy, Business Consulting and IT Services|
|Revenue||US$8.4 billion (2018)|
|US$1.57 billion (2018)|
|US$1.23 billion (2018)|
|Total assets||US$11.68 billion (2018)|
|Total equity||US$7.45 billion (2018)|
|Owner||Azim Premji (73.25%)|
Number of employees
In 2013, Wipro demerged its non-IT businesses into separate companies to bring in more focus on independent businesses.
Early formative yearsEdit
The company was incorporated on 29 December 1945 in Amalner, Maharashtra by Mohamed Premji as 'Western India Vegetable Products Limited', later abbreviated to 'Wipro'. It was initially set up as a manufacturer of vegetable and refined oils in Amalner, Maharashtra, India under the trade names of Kisan, Sunflower, and Camel.
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.
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. 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. In 1988 Premji took a loan of 1 million dollars from Sonkar and Sons to set up the project. Later the entire loan amount was waived.
In 1988, Wipro diversified its product line into heavy-duty industrial cylinders and mobile hydraulic cylinders. 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. 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.
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. Five of Wipro's manufacturing and development facilities secured the ISO 9001 certification during 1994–95. In 1999, Wipro acquired Wipro Acer. 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.
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. 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. In the same year, Wipro got listed on New York Stock Exchange. In early 2000 Wipro Vice Chairman Vivek Paul and Azim Premji approached KPMG Consulting Vice Chairman Keyur Patel and CEO Rand Blazer to form a mega-outsourcing joint venture between the two organizations.
In February 2002, Wipro became the first software technology and services company in India to be certified for ISO 14001 certification. Wipro also achieved ISO 9000 certification to become the first software company to get SEI People Capability Maturity Model (PCMM) Level 5 in 2002. 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. As the company grew, a study revealed that Wipro was the fastest wealth creator for 5 years (1997–2002). The same year witnessed the launch of Wipro’s own laptops with Intel's Centrino mobile processor. Wipro also entered into an exclusive agreement with the owners of Chandrika for marketing of their soap in select states in India. It set up a wholly owned subsidiary company viz. Wipro Consumer Care Limited to manufacture consumer care and lighting products. In 2004 Wipro joined the billion dollar club. It also partnered with Intel for i-shiksha. The year 2006 saw Wipro acquire cMango Inc., a US-based technology infrastructure Consulting firm Enabler, and a Europe-based retail solutions provider. In 2007, Wipro signed a large deal with Lockheed Martin. It also entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS) and signed an R&D partnership contract with Nokia Siemens Networks in Germany.
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, which was a part of SAIC's commercial business services business unit. In 2012 Wipro employed more than 70,000 H-1B visa professional temporary workers in the United States.
In 2012 Wipro acquired Australian Trade Promotions Management firm Promax Applications Group (PAG) for $35 million. Also that year, Wipro Ltd. announced the demerger of its consumer care, lighting, furniture, infrastructure engineering (hydraulics and water and medical diagnostic business) into a separate company to be named Wipro Enterprises Ltd. The merger became effective on March 31, 2013. The year prior, the demerged companies together contributed about 10% of the revenues of Wipro Limited.
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. In October 2016, Wipro announced that it was buying Appirio, an Indianapolis-based cloud services company for $500 million. In 2017, the company expanded its operations in London.
In 2017, Wipro Limited won a five-year IT infrastructure and applications managed services engagement with Grameenphone (GP), a leading telecom operator in Bangladesh (on August 16, 2017).
Grameenphone Ltd. is the largest mobile telecommunications operator in Bangladesh, majority owned by Telenor Group, one of the world’s major mobile operators. Wipro will be managing the complete IT landscape for GP, leveraging Wipro HOLMES. As part of the contract Wipro will own end-to-end application development and management, infrastructure support and maintenance and back office processes for GP.
This partnership closely aligns with Wipro’s vision to localize, expand its presence and explore new businesses opportunities in the country. Wipro will be setting up a new delivery center in Bangladesh.
In 2018, the company began building software to help with the General Data Protection Regulation (GDPR) in Europe. In March 2018, Wipro said it would be buying a third of Denim Group. In April 2018, the company sold its stake in the airport IT services company JV.
To compete with Hindustan Unilever and Procter & Gamble, in May 2018 Wipro Consumer Care and Lighting announced it would increase Indian distribution of its acquired personal care brands Enchanteur and Yardley. Other recent acquisitions included Unza Holdings, LD Waxson, and Zhongshan. On May 3, 2018, it was announced that Wipro was opening manufacturing locations in Andhra Pradesh and Guangzhou. On May 4, 2018, it was reported that Wipro's stock value had been decreasing. The day earlier, press had said that HCL would likely unseat Wipro that quarter as the third largest Indian IT company, after TCS and Infosys.
Wipro Group of CompaniesEdit
Western India Products LimitedEdit
Wipro Limited is a global provider of comprehensive IT solutions and services, including Systems Integration, Consulting, Information Systems outsourcing, IT-enabled services, R&D services.
Wipro entered into the technology business in 1981 and has over 140,000 employees and clients across 54 countries. IT revenues were at $7.1 billion for the year ended 31 March 2015, with a repeat business ratio of over 95%.
Wipro Consumer Care & LightingEdit
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. It sells lighting products, including Smartlite CFL, LED, and emergency lights.
Wipro Infrastructure EngineeringEdit
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 and Teijin Seiki range of hydraulic products in India. It has entered into partnerships Kawasaki and aerospace giant EADS. In 2010 Wipro Infrastructure Engineering was the second largest independent manufacturer of hydraulic cylinders in the world.
Wipro GE Medical SystemsEdit
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, 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.
Sustainability at WiproEdit
Wipro has been ranked 1st in the 2010 Asian Sustainability Rating (ASR) of Indian companies and is a member of the NASDAQ Global Sustainability Index as well as the Dow Jones Sustainability Index.
This section appears to contradict itself.(July 2017)
Listing: Wipro's equity shares are listed on Bombay Stock Exchange where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India where it is a constituent of the S&P CNX Nifty. The American Depositary Shares of the company are listed at the NYSE since October 2000.
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 Premji||73.36%|
|Foreign Institutional Investors (FII)||10.68%|
|American Depositary Shares||2.30%|
Abidali Neemuchwala was appointed as Wipro's CEO after T. K. stepped down in early 2016.Neemuchwala, who had been group president and COO from April 2015, was appointed CEO with effect from 1 February 2016.
Awards and recognitionsEdit
- In March 2017, Wipro was recognized as one of the world’s most ethical companies by US-based Ethisphere Institute for the sixth consecutive year.
- In May 2016, it was ranked 755th on the Forbes Global 2000 list.
- Wipro won Gold Award for ‘Integrated Security Assurance Service (iSAS)’ under the ‘Vulnerability Assessment, Remediation and Management’ category of the 11th Annual 2015 Info Security PG’s Global Excellence Awards.
- Wipro won 7 awards, including Best Managed IT Services and Best System Integrator in the CIO Choice Awards 2015, India
- In 2014, Wipro was ranked 52nd among India's most trusted brands according to the Brand Trust Report, a study conducted by Trust Research Advisory.
- Wipro was ranked 2nd in the Newsweek 2012 Global 500 Green companies.
- Wipro received the 'NASSCOM Corporate Award for Excellence in Diversity and Inclusion, 2012', in the category 'Most Effective Implementation of Practices & Technology for Persons with Disabilities'.
- In 2012, it was awarded the highest rating of Stakeholder Value and Corporate Rating 1 (SVG 1) by ICRA Limited.
- It received National award for excellence in Corporate Governance from the Institute of Company Secretaries of India during the year 2004.
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