GRAPHIC ERA HILL UNIVERSITY, DEHRADUN

PROJECT REPORT
on

A STUDY ON TAX STRUCTURE AND WORKING OF

WIPRO
submitted in partial fulfillment of the requirement

for the degree of

MASTER OF BUSINESS ADMINISTRATION (MBA)

Submitted to

Dr. Vikas Tyagi

Professor
Graphic Era Hill University
Dehradun

Submitted by

ANURADHA PAYAL
24552292
1. INRODUCTION
Wipro is an Indian multinational technology company based in Bengaluru. It
provides information technology, consulting and business process services. It is one of the
six leading Indian Big Tech companies. Wipro's services range from cloud
computing, computer security, digital transformation, artificial intelligence, robotics, data
analytics, and other technologies, present in 167 countries.

Key Features of Wipro

Wipro Limited is a prominent global information technology, consulting, and business

process services company. Here are some of its key features:

 Global Presence:
o Wipro has a significant global footprint, serving clients across numerous
countries.
 Diverse Service Portfolio:
o The company offers a wide range of services, including:
 IT services (software development, system integration, IT consulting).
 Business process services.
 Consulting.
  Engineering services.
 Cloud services.
 Cybersecurity.
 Artificial intelligence.
 digital transformation.
 Focus on Digital Transformation:
o Wipro emphasizes helping clients navigate and succeed in the digital age, with
a strong focus on digital transformation solutions.
 Commitment to Values:
o The "Spirit of Wipro" highlights the company's core values, including:
 Being passionate about clients' success.
 Treating each person with respect.
 Being global and responsible.
 Unyielding integrity.
 Historical Evolution:
o Wipro has a rich history, evolving from a vegetable oil manufacturer to a
leading technology company.
 Emphasis on sustainability:
o Wipro has placed a large emphasis on creating a sustainable and resilient
future.
 Strong foundation in core values:
o Wipro has created "The five habits" that reflect their core values in action.
Those habits are.
 Being respectful.
 Being responsive.
 Always communicating.
 Demonstrating stewardship.
 Building trust.
2. FOUNDING AND EARLY YEARS

1. Foundation of Wipro:

Historical Business Foundation:

 Origins:

o Wipro was founded in 1945 in Amalner, Maharashtra, India, by M.H.

Hasham Premji as Western India Vegetable Products Limited. Initially, it
focused on producing vegetable and refined oils.

o This initial foundation as a consumer goods company is crucial to

understanding its remarkable transformation into a global technology leader.

 Evolution:

o The company transitioned into the IT sector in the 1980s, recognizing the
emerging opportunities in computer hardware and software.

o This shift marked a pivotal moment in Wipro's history, laying the

groundwork for its current status.

Foundation of Social Responsibility:

 Wipro Foundation:
 o This organization is the embodiment of Wipro's corporate social
responsibility (CSR) initiatives.

o It concentrates on addressing significant social issues in areas such as

education, healthcare, environmental sustainability, and disaster relief.

o It prioritizes long-term, meaningful engagement with communities.

 Ethical Values:

o "The Spirit of Wipro" represents the company's core values, which include
integrity, respect, and a dedication to social responsibility.

 Azim Premji's Philanthropy:

o The contributions of Azim Premji, and his dedication to philanthropic works,

have greatly contributed to the foundations of Wipro's social responsiblity.

3. HISTORY AND OPERATIONS

The company was incorporated on 29 December 1945 in Amalner by MH Hasham
Premji as Western India Vegetable Products Limited, a manufacturer of cooking oils. In
1966, after Hasham Premji's death, his son Azim Premji took over as chairperson at age
21.
The company changed its name to Wipro Products Limited in 1977, followed by Wipro
Limited, a syllabic abbreviation of the original name, in 1982.

Wipro Limited is the market leader in business process services, consulting, and
information technology. By utilising the power of analytics, robotics, the cloud, and
other cutting-edge technology, Wipro assists clients on six various continents in
embracing the present digital trend and succeeding. More than 1,60,000 passionate
employees at Wipro are working together to forge a bold and creative future. Wipro
earned approximately 848 crores of USD during the 2017 fiscal year. Wipro Limited
(Wipro) was established on December 29, 1945, and today it is a leading provider of
business process, consulting, and information technology (IT) services worldwide [16].
IT Services and IT Products make up its two operating segments. A variety of IT and IT-
enabled services are offered by the company's IT services division. The IT Goods section
offers a variety of IT products from third parties, enabling it to provide IT system
integration services .

Current Position & Future Plans

 Global IT Services Provider:
o Wipro maintains a strong presence as a global IT services, consulting, and
business process services company.
o They serve a diverse clientele across various industries.
 Emphasis on Digital Transformation:
o Wipro is actively involved in helping businesses undergo digital
transformation, leveraging technologies like cloud computing, artificial
intelligence (AI), and cybersecurity.
 Investment in Emerging Technologies:
o They are heavily investing in areas like AI, particularly "agentic AI", and
cloud solutions to stay competitive.
 Focus on Venture Investments:
o Wipro is actively investing in early to mid-stage startups, through Wipro
Ventures, that are working on disruptive technologies.
Future Plans:
 AI Focus:
o A significant focus is on advancing AI capabilities, especially in "agentic AI,"
to automate processes and enhance customer experiences.
o Wipro will be exploring agentic AI in sectors like customer service and
supply chain management.
 Cloud Expansion:
o Continued growth in cloud services is a key priority, with a focus on
providing comprehensive cloud solutions to clients.
 Strategic Investments:
o Wipro plans to continue investing in promising startups through Wipro
Ventures, to drive innovation and access cutting-edge technologies.
 Digital Transformation Leadership:
 o They aim to solidify their position as a leader in digital transformation,
helping clients adapt to the evolving technological landscape.
 Adapting to Tech Trends:
o Wipro is focused on adapting to the ever changing tech trends, such as the
increase in autonomous machines, and the maturing of industry cloud
solutions.
 Continued focus on sustainability:
o Wipro will continue to place a high value on sustainability in their business
practices.

4. OPERATIONS

Wipro operates in over 60 countries and serves clients in industries such as financial
services, healthcare, manufacturing, retail, and telecommunications. Major services
provided by Wipro are:
 IT services such as software development, system integration, and IT consulting.
 Business process services including customer service, finance and accounting, and
human resources.
 Consulting involves advising companies on business strategies, technology
solutions, and organizational improvements.
 Engineering services including product development, research and development, and
technical support.
 Cloud services such as cloud migration, management, and infrastructure services.

5 . LISTING AND SHAREHOLDING

Wipro's equity shares have been listed on Bombay Stock Exchange since 1946 and
the National Stock Exchange of India where it is a constituent of the NIFTY 50.
The American Depositary Shares of the company are listed on the New York Stock
Exchange (NYSE) since October 2000.

As of March 2024, the promoter group headed by Azim Premji held a 72.88% stake in the
company, while the remaining shares were with public shareholders and an employee trust.
 Percentage of Holding 31 Mar
Category
2024

Promoters and Promoter Group 72.88%

Foreign Institutional Investors

9.36%
(FIIs)

Retail Investors 8.39%

Insurance companies 4.60%

Mutual Funds 3.53%

Others 1.24%

Total 100%

6 . EMERGING TECHNOLOGY AND INNOVATION

Wipro is heavily invested in research and development (R&D) activities, focusing on
emerging technologies like blockchain, the Internet of Things (IoT), and machine learning.
By developing innovative solutions in these areas, Wipro not only stays ahead in the
competitive IT landscape but also opens up new revenue streams through cutting-edge
products and services. These innovations not only attract new customers but also offer
upsell and cross-sell opportunities with existing clients.
In conclusion, Wipro's revenue model is multifaceted, drawing from traditional IT services
and BPO operations while also capitalizing on consulting, proprietary products, and
emerging technologies. This diversified approach allows Wipro to maintain a strong market
position and continue generating robust income across different sectors and geographies.

7. COST STRUCTURE
Wipro's cost structure is characterized by significant investments in technology and
infrastructure, research and development, and employee salaries. However, Wipro focuses

on optimizing its operations and leveraging economies of scale to manage costs effectively.
Additionally, strategic sourcing and partnerships help Wipro maintain a competitive cost
structure

8. EMPLOYEES
As of 31 March 2024, Wipro had 234,054 employees, out of which 36.6% were women.

Financial year
Employee count
ended

March 2024 234,054

March 2023 248,813

March 2022 236,204

March 2021 201,665

March 2020 182,886

 List of CEOs since 1981

CEO Tenure

Ashok Narasimhan 1981–1988

Ashok Soota 1991–1999

Vivek Paul 1999–2005

Azim Premji 2005–2008

Girish Paranjpe and Suresh Vaswani 2008–2011

T. K. Kurien 2011–2016

Abidali Neemuchwala 2016–2020

Thierry Delaporte 2020–2024

Srini Pallia 2024–present