Wipro Ltd. Files 20-F Annual Report

TL;DR

Wipro's 20-F is in, check out their financials for FY24 ending March 31st.

AI Summary

Wipro Ltd. filed its annual 20-F report for the fiscal year ending March 31, 2024. The filing details various financial instruments and business segments, including IT Services and Consumer Business Unit Segment, with data points for periods like March 31, 2023, and March 31, 2024. The company's business address is located in Bangalore, India.

Why It Matters

This filing provides investors with a comprehensive overview of Wipro's financial performance and business operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant positive news that would alter the risk profile.

Key Numbers

• 20240331 — Fiscal Year End (Marks the end of the reporting period for the 20-F filing.)
• 20240522 — Filing Date (The date Wipro Ltd. submitted its 20-F to the SEC.)

Key Players & Entities

• WIPRO LTD (company) — Filer of the 20-F report
• 0000950170-24-063468 (accession_number) — Unique identifier for the filing
• 20240331 (date) — Conformed period of report
• 20240522 (date) — Date the filing was made
• Bangalore (location) — City of Wipro's business address

FAQ

Key Financial Figures

• $1 — on March 31, 2024, which was 83.34 per $1. No representation is made that the Ind

Filing Documents

• wit-20240331.htm (20-F) — 10915KB
• wit-ex11_1.htm (EX-11.1) — 243KB
• wit-ex12_1.htm (EX-12.1) — 12KB
• wit-ex12_2.htm (EX-12.2) — 12KB
• wit-ex13_1.htm (EX-13.1) — 11KB
• wit-ex15_1.htm (EX-15.1) — 5KB
• wit-ex97_1.htm (EX-97.1) — 29KB
• 0000950170-24-063468.txt ( ) — 48689KB
• wit-20240331.xsd (EX-101.SCH) — 4393KB
• wit-20240331_htm.xml (XML) — 13740KB

Forward-Looking Statements May Prove Inaccurate

Forward-Looking Statements May Prove Inaccurate In addition to historical information, this Annual Report on Form 20-F contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the " Securities Act "), and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act "). Forward-looking statements are not historical facts but instead represent our beliefs regarding future events, many of which are, by their nature, inherently uncertain and outside our control. As a result, the forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements, and reported results should not be viewed as an indication of future performance. For a discussion of some of the risks and important factors that could affect the Company's future results and financial condition, please see the sections entitled "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitative and Qualitative Disclosure About Market Risk." The forward-looking statements contained herein are identified by the use of terms and phrases such as "ambition," "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "objectives," "outlook," "probably," "project," "will," "seek," "target" and similar terms and phrases. Such forward-looking statements include, but are not limited to, statements concerning: our strategy to finance our operations, including our planned construction and expansion; future marketing efforts, advertising campaigns, and promotional efforts; future growth and market share projections, including projections regarding developments in technology and the effect of growth on our management and other resources; our expectations of the potential impact of pandemics and public health crises, such a

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 99 Item 12.

Description of Securities Other Than Equity Securities

Description of Securities Other Than Equity Securities 100 PART II 102 Item 13. Defaults, Dividend Arrearages and Delinquencies 102 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 102 Item 15.

Controls and Procedures

Controls and Procedures 102 Item 16A. Audit Committee Financial Expert 105 Item 16B. Code of Ethics 105 Item 16C. Principal Accountant Fees and Services 105 Item 16D. Exemptions from the Listing Standards for Audit Committees 106 Item 16E. Purchase of Equity Securities by the Issuer and Affiliated Purchasers 106 Item 16F. Changes in Registrant's Certifying Accountant 106 Item 16G. Corporate Governance 106 Item 16H. Mine Safety Disclosure 107 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 107 Item 16J. Insider Trading Policies 107 Item 16K. Cybersecurity 108 PART III 109 Item 17.

Financial Statements

Financial Statements 109 Item 18.

Financial Statements

Financial Statements 109 Item 19. Exhibits 186 - 3 - Table of Contents PAR T I

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Stati stics and Expected Timetable

Item 2. Offer Stati stics and Expected Timetable Not applicable.

Key I nformation

Item 3. Key I nformation Capitalization and Indebtedness Not applicable. Reasons for the Offer and Use of Proceeds Not applicable.

Risk Factors

Risk Factors This Annual Report contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth in the following risk factors and elsewhere in this Annual Report. The following risk factors should be considered carefully in evaluating us and our business. Summary of material risks: The following summary provides an overview of the material risks we are exposed to in the normal course of our business activities. The summary does not purport to be complete and is qualified in its entirety by reference to the full risk factors discussion immediately following this summary. We encourage you to read the full risk factors carefully. Our revenues are highly dependent on clients primarily located in the Americas (including the United States) and Europe, as well as on clients concentrated in certain industries; therefore, an economic slowdown or factors that affect the economic health of the United States, Europe or these industries would adversely affect our business. Our revenues and expenses are difficult to predict because they can fluctuate significantly given the nature of the markets in which we operate. Our revenue and operating results may be affected by the rate of growth in the use of technology in business and the type and level of technology spending by our clients. Our use of artificial intelligence (" AI ") technologies may not be successful and may present business, financial, legal, and reputational risks. If our clients are unable to pay our dues and receivables, our results of operations and cash flows could be adversely affected. Some of our long-term client contracts contain benchmarking and most favored customer provisions which, if triggered, could result in lower contractual revenues and profitability in the future. Our work with government clients exposes us to ad

View Full Filing

View this 20-F filing on SEC EDGAR