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Overviewof the ReportWelcome to our 4th Integrated Report!This is our fourth annual report aligned to the principles of InternationalIntegrated Reporting Framework (referred to as IR framework) developedby the International Integrated Reporting Council (IIRC).In addition, the 2018-19 annual report is aligned to GRI* Standards requiredby Sustainability Reporting Guidelines of Global Reporting Initiative (GRI)and Business Responsibility Report (BRR) requirements of SEBI. The NaturalCapital section of this report, includes the recommendations set out bythe Task Force on Climate-related Financial Disclosures (TCFD) and CDSB(Climate Disclosures Standards Board) framework. All these (except BRR)are global standards.The report complies with financial and statutory data requirements of theCompanies Act, 2013 (including the Rules made thereunder, AccountingStandards), the Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations, 2015 and the SecretarialStandards.The topics covered in the report were identified through a comprehensiveprocess that included an internal materiality determination exercise,external benchmarking with peers and sustainability raters as well asframeworks like the Sustainability Accounting Standard Board (SASB).At Wipro, stakeholder engagement is an ongoing process. Identifying andunderstanding stakeholders, their priorities and engaging with them is keyto materiality determination. The report incorporates financial and nonfinancial information – governance, environmental and social – in a mannerthat can help stakeholders understand how a company creates and sustainsvalue over the long term.*Link to GRI Index and additional graph R-supportings Refer to chapter 5 of Wipro Sustainability Report (FY 2017-18): ability/sustainability reports/sustainability-report-fy-2017-18.pdfWipro Limited1

AboutWipro2Annual Report 2018-19

Wipro Limited (NYSE: WIT, BSE: 507685,NSE: WIPRO) is a leading global informationtechnology, consulting and business processservices company. We harness the powerof cognitive computing, hyper-automation,robotics, cloud, analytics and emergingtechnologies to help our clients adapt tothe digital world and make them successful.A company recognized globally for itscomprehensive portfolio of services, strongcommitment to sustainability and goodcorporate citizenship, we have over 170,000dedicated employees serving clients acrosssix continents. Together, we discover ideasand connect the dots to build a better and abold new future.We began our business as a vegetable oilmanufacturer in 1945 at Amalner, a smalltown in Western India and thereafter,forayed into soaps and other consumer careproducts. During the early 1980s, we enteredthe Indian IT industry by manufacturing andselling mini computers. In the 1990s, weleveraged our hardware R&D design andsoftware development expertise and beganoffering software services to global clients.In 2013, we demerged the non-IT DiversifiedBusinesses. With a track record of nearly 30years in IT Services, we are, today, focusedentirely on the global Information Technologybusiness. Wipro is listed on National StockExchange and Bombay Stock Exchange inIndia and New York Stock Exchange in the US.For more information, please visit wipro.comValuesThe Spirit of Wipro is the core of Wipro. Theseare our Values. It is about who we are. It isour character. It is reflected consistently inall our behavior. The Spirit is deeply rootedin the unchanging essence of Wipro. It alsoembraces what we must aspire to be. TheSpirit is a beacon. It is what gives us directionand a clear sense of purpose. It energizes usand is the touchstone for all that we do. It isthe indivisible synthesis of the four values.Wipro LimitedSpirit of WiproBe passionate about clients’ successBe passionate about clients’ success. We succeed when wemake our clients successful. We collaborate to sharpen ourinsights and amplify this success. We execute with excellence.Always.Treat each person with respectWe treat every human being with respect. We nurture an openenvironment where people are encouraged to learn, shareand grow. We embrace diversity of thought, of cultures, and ofpeople.Be global and responsibleWe will be global in our thinking and our actions. We areresponsible citizens of the world. We are energized by the deepconnectedness between people, ideas, communities and theenvironment.Unyielding integrity in everything we doIntegrity is our core and is the basis of everything. It is aboutfollowing the law, but it’s more. It is about delivering on ourcommitments. It is about honesty and fairness in action. Itis about being ethical beyond any doubt, in the toughest ofcircumstances.3

Outperform.With Wipro.In a little over two decades of existence, the internet haschanged many industries. From e-commerce and digitaladvertising to streaming content, hospitality and ridesharing; many industries have seen a redefinition of valuechains by upstarts and technology savvy incumbents. But thevisible change that we see today, powered by smart phones,plentiful bandwidth, social network and digital payments, isjust the tip of the iceberg.The change that’s around the corner in the next twodecades will dwarf what we have seen so far. A cohort ofinnovation streams - from AI to Blockchain to 3D printing,will redefine many other sectors even more dramatically.Large enterprises see opportunities in this disruption tooutperform, not just in today’s businesses, but also overlonger horizons. Business and technology leaders in theseenterprises need to become adept at managing innovationpriorities, driving experimentation and scaling value creationon multiple fronts.At Wipro, our close partnerships with Global 2000 companiesgive us a privileged view that has helped us identify whatdrives the key levers of outperformance and guided ourinvestments in new capabilities to build on top of deeptechnology heritage. We understand how outperformance inrapidly changing markets takes more than trend chasing andsilver bullets. A sustainable approach to outperformanceneeds not just laying deep foundations in simplifyingand modernizing the IT and engineering landscape butalso embedding trust in transactions, relationships andtechnologies. Business transformation creates newexperiences and new value propositions for customers butneeds an innovation approach that is ingrained in new waysworking both within the enterprise and with the ecosystemoutside.Business Transformation: Our design-led customer-centricapproach helped a large Healthcare Group ProcurementOrganization to completely reimagine their business modelto an e-commerce market place, creating an end to enddigital experience and an entirely different brand for thedigital world. We helped one of the largest payment gatewaysto compete effectively with new-age fintechs in reimaginingthe on-boarding process for millions of small merchants toan intuitive, self-service process, crashing cycle time fromweeks to minutes.Modernization: One of the largest airports in North Americais winning awards for being the best in customer experience4Annual Report 2018-19

by reducing response times to queries on passenger flow,baggage and fleet tracking from minutes to seconds. Thiswas an outcome of an engagement where we partneredwith them in modernizing their technology infrastructureby leveraging AI/ML, IoT and Blockchain solutions. Anotherrewarding engagement was in automating technology andbusiness processes of the largest processors of employeehealth and wealth insurance providers, which resulted indramatically improved efficiency and experience in servingmillions of their customers.Connected Intelligence: By embedding IoT and Analyticscompetencies into information pathways and businessprocesses, we are evolving both the DNA and the nervoussystem of outperforming businesses. We helped a globalindustrial pumps business rethink asset maintenance andoperations to improve customer satisfaction and discovernew service revenue streams. Our intelligent pricing enginehas helped improve pricing recommendation and workflowimplementation for a global consumer goods company,resulting in an estimated 5% increase in revenue.Trust: As we helped blueprint and execute a move to thecloud for a global nutrition major, we consolidated securitypolicies and processes across 197 countries, ensuringlocal compliance and removing bottlenecks. As a result, wehelped them achieve an enhanced security posture with theimplementation of next generation security controls anda cyber defense platform with advanced threat detectioncapabilities. We also leveraged our expertise to help a globallife sciences enterprise operating in 71 countries to achieveGDPR compliance in a timely and orderly fashion.Open Innovation straddles both the ‘what’ and ‘why’ of anoutperform strategy. Wipro’s Open Innovation ecosystemslet our clients leverage the power of start-ups, leadinguniversities and more than 1.5 million individuals throughour Topcoder crowdsourcing platform to drive modernizationand transformation. With our unique, managedcrowdsourcing approach on Topcoder, we demonstratedthat the power of the gig economy has moved beyond pilotsand experiments and can scale enterprise challenges. Weproved that from perfecting cancer detection algorithms,to identifying feasible hydrocarbon reserves, to automatingcritical operations of urban infrastructure utilities, thepower of a million strong community can be harnessed tosolve problems that were previously considered unsolvablewith the traditional ways of working.Our commitment to helping our clients outperformcontinues to be demonstrated by our deep investmentsin all dimensions, with our continuous drive to leverageour capabilities creating significant value for our clients’businesses.Wipro Limited5

FinancialHighlights(Figures in million except otherwise stated)Financial nue1473,182516,307554,179546,359589,060Profit before Depreciation, Amortisation, Interestand Tax108,246111,825116,986105,418119,384Depreciation and Amortisation12,82314,96523,10721,12419,474Profit before Interest and 2Profit after Tax attributable to equity 619,04812,068Net Worth409,628467,384522,695485,346570,753Gross cash (A)251,048303,293344,740294,019379,245Total Debt (B)78,913125,221142,412138,25999,467Net Cash roperty, Plant and Equipment andIntangible Assets (C 991125,796117,584116,980Net Current Assets272,463284,264309,355292,649357,556Capital 4.8Profit before TaxPer share dataEarnings Per Share- Basic ( )2Earnings Per Share- Diluted ( )2Financial positionShare CapitalProperty, Plant and Equipment (C)Intangible Assets (D)Shareholding relatedNumber of Shareholders3Market Price Per Share ( )41.2.3.4.6Revenue is aggregate revenue for the purpose of segment reporting including the impact of exchange rate fluctuationsEPS adjusted for the years prior to the bonus issue. Bonus issue was in proportion of 1:3 and was approved by shareholders in February 2019Number of shareholders (as at March 31st of respective years) represents holders of equity shares and does not include holders of ADRsMarket price of shares is based on closing price in NSE as on March 31st of respective years and has been adjusted for bonus issue in 2019Annual Report 2018-19

Revenue IT Services( Million)Net Income toRevenue2IT ServicesOperating Margin18,12018.8%7,89517.9%16.1%15.3%7,569FY 2017FY 2018FY 2019Operating Cash Flow toEBITDAFY 2017FY 201879.9%FY 2019Free Cash Flow to NetIncome97.4%79.3%15.3%14.7%FY 2017FY 2018FY %FY 2017FY 2018FY 2019AttritionRate3FY 2017FY 2018FY 2019Market Capitalization( Billion)4FY 2017FY 2019PayoutRatio517.6%16.3%FY 201872.8%16.8%22.219.360.7%19.537.9%FY 20171.2.3.4.5.FY 2018FY 2019FY 2017FY 2018FY 2019FY 15 -17 FY 16 -18 FY 17 -19IT services operating margin refers to segment results total as reflected in IFRS financialsNet Income has been considered after adjusting for profit attributable to non-controlling interest (Minority Interest)Attrition rates refers to voluntary attrition computed on a trailing twelve months basis excluding DO&PFor convenience, the market capitalization in as per NSE have been translated into United States Dollar at the certified foreign exchange rate publishedby Federal Reserve Board of Governors on the last day of the respective financial yearsPayout Ratio has been computed by dividing the payout (comprising interim and final dividend declared for the respective financial year and buy back ifany, considered based on the date of Board’s approval) to shareholders by net income on a trailing three year basis. The buyback of 105 billion that theBoard approved in April 2019 will be considered as a part of the payout for FY 2020Wipro Limited7

Key PerformanceMetrics110125FY 2018100FY 2019FY 2017HumanCapitalNationalitiesin WorkforceLocalization inOn-shore WorkforceTotal AustraliaPersons with Disabilities545Women Employees (%)35.0%FY 2017FY 2018FY 201944235.2%33433.0%FY 2017FY 2017FY 2018IntellectualCapitalFY 2018FY 2019FY 2019Patents FilledCumulatively till DateFY 2017FY 2018FY 20192200 39,000 90,000 133,000 2000 FY2019558FY2018380 millionFY 20173,338FY 20183,041FY 20193,942R&D Expenses8Number ofPeople Trainedin Digital1662250FY2017FY 2017FY 2018FY