INSIDE

Wipro in Brief 02 Boards Report 65

Design it Build it 04 Corporate Governance Report 109
Financial Highlights 08 Financial Statements
Key Metrics 09 Standalone Financial Statements
Letters under India GAAP 130
Chairmans Letter to the Stakeholders 10 Consolidated Financial Statements
Vice-Chairmans Letter to the Stakeholders 12 under India GAAP 171
CEOs Letter to the Stakeholders 14 Consolidated Financial Statements
Board of Directors under IFRS 216
Profile of Board of Directors 16 Business Responsibility Report 265
Sustainability Highlights 2015-16 22 Glossary 270
Management Discussion & Analysis
An Integrated Approach 24
Industry and Business Overview 26
Business Strategy 27
Business Model 30
Good Governance and Management Practices 35
Risk Managment 35
Capitals and Value Creation 38

Certain statements in this annual report concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties
that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but
are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition
in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns
on fixedprice, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for
technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for
damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions
affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities
and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements,
including statements contained in the companys filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update
any forward-looking statement that may be made from time to time by us or on our behalf.
The businesses that will succeed today are the ones that will
offer new sources of values, deliver a delightful customer
experience, adapt at high velocity and tap innovation globally.

Wipro Limited 1
2 Annual Report 2015-16
 WIPRO IN BRIEF
Wipro Limited (NYSE:WIT, BSE:507685, NSE:WIPRO) is a leading
information technology, consulting and business process services
company that delivers solutions to enable its clients do business better.
Wipro delivers winning business outcomes through its deep industry
experience and a 360 degree view of Business through Technology.
By combining digital strategy, customer centric design, advanced
analytics and product engineering approach, Wipro helps its clients
create successful and adaptive businesses. A company recognized
globally for its comprehensive portfolio of services, strong commitment
to sustainability and good corporate citizenship, Wipro has a dedicated
workforce of over 170,000, serving clients across 6 continents.

We began our business as a vegetable oil manufacturer in 1945 at

Amalner, a small town in Western India and thereafter, forayed into
soaps and other consumer care products. During the early 1980s,
we entered the Indian IT industry by manufacturing and selling mini
computers. We began selling personal computers in India in the 1980s.
In the 1990s, we leveraged our hardware R&D design and software
development expertise and began offering software services to global
clients. With a track record of over 25 years in IT Services, we are, today,
focused entirely on the Information Technology business. Wipro is listed
on National Stock Exchange and Bombay Stock Exchange in India and
New York Stock Exchange in the US. For more information, please visit
www.wipro.com.

VALUES

At the core of Wipro is the Spirit of Wipro. It encapsulates the values,

which are the guiding principles for our culture and behaviour in Wipro.
It binds us together and inspires us to achieve excellence in whatever
we do.

SPIRIT OF WIPRO IDENTIFIES THREE CORE VALUES

Intensity to Win
Make customers successful
Team, innovate, excel

Act with Sensitivity

Respect for the individual
Thoughtful and Responsible

Unyielding Integrity
Delivering on commitments
Honesty and fairness in action

Wipro Limited 3
THE FUTURE BELONGS
TO THOSE WHO MAKE IT

4 Annual Report 2015-16

 DIGITAL TRANSFORMS EVERYTHING

Everyday experiences are no longer what they used to be. Buying a

car, depositing money, booking accommodation, monitoring fitness,
trying on clothes and even telling the time are activities unrecognizable
from just a few years ago. New products and services promising greater
relevance and higher value have transformed, at lightening speed, the
way we live and work.

Our world is exploding with data, devices, content and touchpoints.

Increasingly, enterprises require more platforms, systems and processes
to connect and make sense of the complexity and determine the ways
in which brands remain relevant to first-time buyers and long-time
loyalists. This disruption is the new normal and there is no sign of this
slowing down. As a result, industries, businesses, consumers and our
clients are experiencing fundamental challenges.

No industry, business model or company can look the other way. The
average lifespan of a Fortune 500 company has dropped from 75
years to 15 years. The unbundling of traditional products and services
requires a change in how businesses operate and deliver relevance and
value to consumers.

Business today needs to be redesigned and rebuilt for a world where

experience defines value, velocity determines growth and scale is
achieved not by big and few but by small and many.

The businesses that will succeed today are the ones that will offer new
sources of values, deliver a delightful customer experience, adapt at
high velocity and tap innovation globally.

VALUE BEYOND

Businesses are created to offer value. Now, value must go beyond the
product, service, store and channel. New sources of value are found
at the edge, on the periphery of existing domains, and once unlocked
will deliver new sources of revenue and growth. To find new sources of
value one requires a new way of working, a multi-disciplinary approach,
bringing together strategy, design and technology.

When an engineer knows how to design, a strategist knows how to code

or a designer knows how to roadmap organizational change, new ways
of colloborative working breakdown traditional siloed and inside-out
thinking. In its place grows an outside-in approach to defining products
and services, one that is led and informed by the customer experience.
Entirely new perspectives now create the most compelling, personal,
relevant and meaningful product or service. These experience-led
enterprises, combined with high velocity and global scale, will be the
ones to transform industries and deliver value beyond.

Wipro Limited 5
EXPERIENCE-LED into viable propositions, underpinned by intelligent
operations and into the hands of customers.
Successful businesses go beyond simply delivering
products and services. They design and deliver Therefore, enabling high velocity change requires
experiences centered around the customer, not a simplification of traditional development and operations
technology or business process. An example of this practices. Both are interrelated and complementary,
approach is what we are doing at Chelsea Football Club but they differ in nature. Digitally fit operations reduce
to transform fan experiences in-stadium on game day waste, uncertainty and variation in order to create
and beyond, harnessing digital to ensure there is no fan efficiency. Modern engineering disciplines cut feedback
too far from the action. loops through automation, allowing teams to exploit
uncertainty and variation quickly and repeatedly
Not only does this require an outside-in approach, it throughout an adaptive design process.
requires new types of workers. It requires talent that
is x-shaped (multi-skilled), not uni-disciplinary, which We help our clients create a platform to learn from
brings complimentary but diverse skill sets. experiments, especially from failures for solving
ambiguous problems and exploiting innovative ideas.
For instance, in 2015-16, we took a global bank from
tightly coupled, fixed and interdependent systems to a
responsive, fluid and participative architecture capable
of releasing new features and updates on demand. This
resulted in improved experiences for customers and
significant savings for the bank.

GLOBAL SCALE

Traditionally, global scale is thought to describe size,

breadth and presence around the world. While any large
multi-national may bring this type of scale to clients,
global scale, for us, means much more. For us and our
clients, it means the ability to innovate at global scale.
Innovation may come from a startup in a garage half-
way around the world, an artificial intelligence platform
like Wipro HOLMESTM, an unrelated industry setting new
standards for customer experience or a small eco-system
partner with big ambition. Todays digital business needs
to tap into all sources of traditional and non-traditional
innovation.

Because this is transformational, clients need a different

method that goes beyond siloed, inside-out thinking. We
HIGH VELOCITY start with insights into customer needs and expectations
insights that are disruptive, forward-looking and
In a rapidly evolving landscape, Digital businesses unbound by standard industry expectations. Insights lead
must have a bias towards action. Moving away from a to dreaming and designing future experiences. Building,
product-first mindset to an experience-first mindset, delivering and continuously improving experiences at
companies need to embrace experimentation as well as scale and with velocity completes the transformation of
rapid, reliable and continuous deployment. Competitive product-service experiences for customers.
advantage of the future is linked to better, faster and
more relevant experiences. A large electronics client of Wipro believes, that in future,
The goal is to incrementally craft brand-defining revenues will come from connected devices and not from
experiences, quickly and efficiently shaping ideas products. This client relies on Wipro to support their end-

6 Annual Report 2015-16

to-end transformation, integrating internal and external the right environment, you need the ability to figure
value chains that provide new sources of revenue and out whats not working when its not, and the ability to
new product-service experiences for consumers. fix it so it does. You need a place where people safely
try, stumble, fall, learn, and try something else - quickly
DELIVERING AS BIG AS WE CAN DREAM and often. The prize is special an experience that, for
a moment, delights someone, time and again. A good
Our heritage lies in technology. Wipro is known around example is what we are doing for a global technology
the world for deep expertise in building and running company, where we are bringing the combined strength
systems. Today, Wipro is changing. Understanding of our digital, engineering and Designit teams to redesign
technology is no longer enough. and reengineer how they work by creating a platform to
develop iteratively and deliver lasting product-service
This year, Wipro acquired one of the worlds leading experiences in collaboration with their clients.
strategic design companies, Designit, and invested
internally to create Buildit, a high caliber studio-based When design and build mindsets are fused together,
engineering capability. the continuous evolution of technology results in
experiences that no longer trail consumer behavior but
We believe design is not simply about making things rather make brand-defining moments and create new
look good. Strategic design makes the world a better markets. Designing and building new experiences makes
place. Strategic design fixes unusable systems, improves todays businesses into human centric enterprises. When
terrible experiences, innovates new services and creates Digital is approached in this manner large, Digital drives
products that go beyond category. Put simply, design large corporations to innovate like startups.
drives human-shaped products, services and help
radically simplify digital environments, in a future where Combining strategic design with strategic technology
there is no market for complicated. is our future. Strategic design creates new experiences
continuously. Strategic technology brings new
Similarly, engineering great experiences is not something experiences into the hands of end-users continuously.
you can codify. It is much more subtle, complex and The future belongs to those who understand that its
elusive. It is a people thing - the right blend of talent, an not about system specification but end-user expectation
effective unit, equipped to discover and create things and experience. The future belongs to those who Design
that matter to you and me. For this, you need to create it and Build it. The future belongs to those who make it.

DESIGN IS NOT SIMPLY ABOUT

MAKING THINGS LOOK GOOD.
STRATEGIC DESIGN MAKES THE
WORLD A BETTER PLACE.

Wipro Limited 7
FINANCIAL HIGHLIGHTS
FINANCIAL PERFORMANCE (Figures in ` Million except otherwise stated) 2012-13 2013-14 2014-15 2015-16
Revenue@ 376,882 437,628 473,182 516,307
Profit before Depreciation, Amortisation, Interest and Tax 79,885 100,460 108,246 111,986
Depreciation and Amortisation 9,913 11,106 12,823 14,965
Profit before Interest and Tax 69,972 89,354 95,423 97,021
Tax 16,912 22,600 24,624 25,305
Effective Tax Rate (%) 21.5% 22.4% 22.0% 22.1%
Profit before Tax 78,596 101,005 111,683 114,719
Profit after Tax - attributable to equity holders 61,362 77,967 86,528 88,922
PER SHARE DATA (Figures in `)

Earnings Per share- Basic () 25.01 31.76 35.25 36.20

Earnings Per share- Diluted () 24.95 31.66 35.13 36.12
FINANCIAL POSITION (Figures in ` Million)

Share Capital 4,926 4,932 4,937 4,941

Net Worth 284,983 344,886 409,628 468,302
Total Debt 63,816 51,592 78,913 125,221
Property, Plant and Equipment (A) 50,525 51,449 54,206 64,952
Intangible Assets (B) 1,714 1,936 7,931 15,841
Property, Plant and Equipment including Intangible
52,239 53,385 62,137 80,793
Assets (A+B)
Gross cash 163,469 187,258 251,048 301,432
Goodwill 54,756 63,422 68,078 101,991
Net Current Assets 162,663 218,534 272,463 287,030
Capital Employed 348,799 396,478 488,538 593,523
SHAREHOLDING RELATED

Number of Shareholders* 213,603 210,471 213,588 227,369

Market Price Per Share ()** 437.15 543.20 628.85 564.25
Payout Ratio (%)*** 33% 30% 41% 48%
Note: All figures above are based on IFRS Consolidated Financial Statements
* Number of share holders represents holders of equity shares (does not include holders of ADRs)
** Market price of shares is based on closing price in NSE as on March 31 of respective years and not adjusted for Demerger in 2013
***Payout ratio is computed by diving Payout by profit for the period attributable to equity shareholders. Payout for financial year 2016 is computed by combining the
interim dividend, the proposed final dividend (including the dividend distribution tax) and the buyback of 40 million equity shares at a share price of Rs. 625 each for
an aggregate amount of Rs. 25,000 million
@ Revenue is aggregate revenue for the purpose of segment reporting including the impact of exchange rate fluctuations

8 Annual Report 2015-16

KEY METRICS Revenue IT Services ($ Million) USD Revenue Growth - IT Services Total Revenue (` Million)@
(Constant Currency)1
% 7,346 9.0% (10
7,400 3.7 bp
s 8.7% 7b 550,000 9.1% 516,307
8.5% 77 ps)
7,200
7,082
500,000 8.1% 473,182
7.9%
7,000 % 8.0% 450,000 437,682
7.0 7.6%
6,800 7.5% 400,000
6,618
6,600 7.0% 350,000

6,400 6.5% 300,000

6,200 6.0% 250,000

6,000 5.5% 200,000

5,800 5.0% 150,000

FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016

IT Services Operating Margin Profit Before Interest And Taxes (` Million) Profit After Tax (` Million)2
1.7%
28.0% 100,000 6.8% 97,021 100,000 2.8%
95,423
26.0% (43 bps) 89,354 11.0% 86,528 88,922
90,000 90,000
24.0% (172 80,000 77,967
22.6% bps 80,000
22.2% )
22.0% 70,000 70,000
20.5%
20.0% 60,000 60,000
18.0% 50,000 50,000
16.0% 40,000 40,000
14.0% 30,000 30,000
12.0% 20,000 20,000
FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016

Operating Cash Flow (` Million) Gross Cash ( ` Million)3 Payout Ratio4

100,000 360,000 50% bps 48%

700
90,000 320,000 % 301,432
0.8% 20.1 41%
80,000 15.3% 78,262 78,873 280,000 40% p s
251,048
1% 0b
70,000 67,897 240,000 34. 110
60,000 200,000 187,258 30%
30%

50,000 160,000

40,000 120,000 20%

30,000 80,000

20,000 40,000 10%

FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016

Market Capitalization (` Billion) #

Workforce Patents (Including Pending Applications)

1800 175,000 172,912 1200

(10) 1,085
%
1600 16% 1,553 170,000
%
1,340 1,394 165,000 9.3 900 %
1400
88
1200 160,000 158,217
155,000 % 600 % 578
1000
8.3 73
800 150,000
146,053 334
600 145,000 300

400 140,000

200 135,000 0
FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016 FY 2014 FY 2015 FY 2016
Note: All figures above are based on IFRS Consolidated Financial Statements
1) IT Services revenue for a given fiscal is re-computed based on the average rates realized in previous fiscal to arrive at IT Services revenues in constant currency
2) Profit After Tax refers to profit for the period attributable to equity holders of the company
3) Gross cash is sum of (i) cash and cash equivalents plus (ii) Available for Sale Investment - current, and (iii) Interest bearing deposits with corporates - current
4) Payout ratio is computed by diving Payout by profit for the period attributable to equity shareholders. Payout for financial year 2016 is computed by combining the
interim dividend, the proposed final dividend (including the dividend distribution tax) and the buyback of 40 million equity shares at a share price of Rs. 625 each for
an aggregate amount of Rs. 25,000 million
@ Revenue is aggregate revenue for the purpose of segment reporting including the impact of exchange rate fluctuations
# Market Capitalization is based on closing price in NSE as on March 31 of respective years

Wipro Limited 9
CHAIRMANS LETTER TO THE
STAKEHOLDERS
Dear Stakeholders,
The global economy continued to recover, albeit at a TK will focus on key strategic initiatives while also
lower trajectory affecting prospects unevenly across providing continuity on client relationships without
regions. The sharp drop in oil prices in 2014-15 sustained disruption.
through 2015-16, affecting the energy economy. US saw
We announced the appointment of Abidali Neemuchwala
an improving labor market and started the journey of
as Chief Executive Officer and Member of the Board of
rate hikes. Continental Europe shows mixed trends even
Wipro Limited effective February 1, 2016. Abid joined
as many emerging market economies such as Brazil are
Wipro as Group President & Chief Operating Officer on
under economic recession. Chinas economy, in the midst
April 1, 2015. In a short span of time, he has established
of a structural adjustment, is a concern. India continued
himself as a tall leader and won the respect and
to be a bright spot in the global economy with the
acceptance of the leadership team. His track record with
economy growing by 7.6%. Overall, the outlook is stable
customers, passion for excellence and rigor in execution
for economies that form key markets for Wipro.
makes him uniquely positioned to lead Wipro through the
In 2015-16, Gross Revenues of the Company crossed the next phase of growth.
landmark of Rs. 50,000 crores and grew by 9% YoY. Net
The leadership structure is in place and this has been
Income for the year grew by 3% YoY to Rs 8,892 crores.
one of the smoothest transitions we have had in a CEO
Over the past five years, our organization continued transition. Both Abid and TK are working closely to build
to transform into a next generation technology and on the solid foundation we have developed to drive
consulting company, with defining differentiators in superior growth and profitability.
the market. We have built a stronger customer facing
We are seeing pervasive change all around us. Consumer
organization, increased our presence and wins in large
expectations and experiences, business models,
deals, developed effective capability enhancement
consumptions models and at times, entire industries are
programs for employees and been at the forefront of
getting fundamentally transformed.
technology changes. TK Kurien (TK), who led our Company
as the CEO till January 31, 2016 has been appointed Digital is pervading all our lives. Experiences delivered on
Executive Vice Chairman, effective February 1, 2016. Digital technology not just by humans but also machines

10 Annual Report 2015-16

is increasingly commonplace. quality STEM education at the K-12 levels in US schools.
The program is currently running in Chicago, New
At Wipro, the concept of a Digital business is founded on
Jersey, New York and Boston. The program works in close
three principles: it is experience-led, runs at high velocity,
collaboration in over 20 school districts wherein 250-350
is of global scale and leverages the use of robotics. This
teachers go through a 2 year fellowship with intense
definition of a Digital business requires new business
support to develop their capacities to be better teachers
models, new ways of working and integrated capability
and change leaders. The current commitment of Wipro to
across strategy, design and technology.
these programs is about USD 8 million.
We invested in significantly up-skilling our employees in
Wipro Cares engages with our proximate communities on
Digital technologies to be able to service this demand.
the issues of Education for the Underprivileged, Primary
We are also focused on increasing the diversity and
Health-Care and Environment. Wipro Cares also works on
globalization of our workforce. Today, our workforce
long-term rehabilitation of affected communities after
comprises employees from 100+ nationalities. 32% of
natural disasters. Wipro Cares encourages employees
our employees are women. We have more than 31,000
participation by contributing their time as well as
employees outside India, out of which 42% are locally
donations. Wipro makes a matching contribution to the
hired. We are investing in building multiple innovation
donations.
and delivery centers across the globe.
As corporations continue to play their role of driving
We have always strived to enhance stakeholder value for
responsible, sustainable businesses, I firmly believe
investors. The Companys philosophy is to provide regular,
that owners of corporates are trustees of wealth, which
stable and consistent payouts. In line with this philosophy,
needs to be used for furthering social causes. As I have
we announced a share buyback through a tender offer
mentioned before, over these years I have irrevocably
amounting to Rs 25,000 million in addition to dividends
transferred a significant part of the shareholding in Wipro,
of Rs.6 per share. For the year 2015-16, dividends declared
amounting to 39% of the shares of Wipro, to a Trust (of
and proposed, combined with the buyback amount will
which ownership in 21.14% was transferred and for
enhance the payout ratio to 48% from 41% for the year
the balance the Trust is entitled to beneficial interest of
2014-15.
dividends and sale proceeds). The Trust supports the work
Just as financial capital is important for a firm, so is human of The Azim Premji University and our grant making arm,
capital, natural capital, social and relationship capital. Azim Premji Philanthropic Initiatives. As a result of this,
In this years Annual Report, we have articulated the the excellence in business performance at Wipro would
overall performance of the Company across these forms translate into value creation for shareholders, a substantial
of capital stock. At the core of this articulation is the portion of which would be towards social causes.
integration of social and environment parameters within
In 2015-16, Wipro achieved the milestone of its 70th
the management discussion and analysis, in addition to
anniversary and moved into its 71st year. At this juncture,
financial performance.
I am grateful to all stakeholders- customers, employees,
We continue to run very effective programs related to suppliers, partners and investors for their continuing
community and education domains. Wipro Applying support to Wipro.
Thought in Schools is Wipros social initiative in school
Very Sincerely,
education that aims to build capacities for systemic reform
in India and has been running for over 15 years.
Wipro-earthian is Wipros Sustainability Education Program
which seeks to support and drive sustainability thinking
Azim Premji
and action through the learning process in school and
colleges across India. The program completed 5 years in
2015 and we achieved wide geographical representation
in 21 states, 45 districts and increased our reach to 2,000
schools, 1,500 colleges and 2,200 teachers.
We started the Wipro Science Education Fellowship
(SEF) in the US in 2013. The key focus is to facilitate high

Wipro Limited 11
VICE-CHAIRMANS LETTER TO
THE STAKEHOLDERS
Dear Stakeholders,
Last year was a momentous year for the technology skill across functions and levels.
industry. The discontinuities, which I have been talking
about in my previous interactions, is fast approaching. It is sometimes easy to get fascinated or scared by these
Across the board, industries will undergo a fundamental changes. Building perspective over a longer time frame,
transformation that will not only create new markets, but enables us to better understand the current dynamic and
also give rise to new competitors who will operate with a define steps that technology companies like us need to
belief that traditional boundaries do not apply to them. take, to remain relevant.
Enterprises that have used the web as just another sales Information Technology, in its early days, used to be a
channel are now going to find that new-age enterprises mechanism for processing data efficiently at large scale
leverage simplicity and the power of technology to reach and was used as a system of record. Over time, this
the customer directly - with more customized offerings led to improved process orchestration with seamless
and delivery channels, at lower costs and often in units flow of information to drive back-office enterprise
of one. Concepts of mass marketing and scale that have applications, ultimately leading to the internet being
driven enterprises for over 200 years, are now being central to consumer engagement. Technology capability
challenged. has changed further with new paradigms - end-to-end
To respond to this challenge, enterprises have to transform digitization, cloud-based delivery, actionable insights
not just their Sales and Supply chain channels but from Artificial Intelligence (AI), and lastly mobility
also create the culture to access the larger ecosystem becoming central to user-engagement. Going forward,
seamlessly. Likewise, organizations need to build business success will be increasingly driven by creative
capability to harness the power of ideas from not just integration of these capabilities across processes. As an
within, but from anywhere in the world. The other critical instance, the industry will see the growing rise of robots
change for organizations is that technology is no longer that will slowly integrate into the traditional workforce.
a support function that can be handed over to a Chief Traditional manufacturing is now already feeling the
Technology Officer - it is front and center of all that is going impact of additive manufacturing. In adjacent areas of the
to happen. In a way, the power to harness technology to value chain, supply chains are getting disrupted by drones
deliver dramatic impact is increasingly becoming a critical and service management by virtual reality.

12 Annual Report 2015-16

Given this context, technology decisions are being remain steadfast to our core values that we have observed
increasingly made by business users leading to a new over the last 70 years - customer centricity, employee
set of expectations and purchase constructs. We see sensitivity, integrity and sustainable development.
many enterprises working around developing an
I feel very confident that Wipro is well placed for its
optimal operating model to address this - to balance the
next phase of growth, with Abid at the helm. He has
efficiency from a traditional IT division with the innovation
demonstrated a deep understanding of technology,
opportunity arising from a deeper business linkage.
business vision, and an innate ability to bring people
These disruptions demand Technology Consulting together for a common purpose.
organizations like ours to execute along two key themes-
Let me close by thanking all of you for your support when I
Engage closely with business users for new business was the CEO. In my new role as Vice-Chairman, I am excited
models that makes them more successful to enable Abid achieve the goals he has articulated for the
company. I look forward to your continued support as we
Relook operations in traditional delivery to improve
embark with renewed zeal on our journey.
efficiency & drive out cost on an accelerated basis
Very Sincerely,
It will also be critical to help our customers through
the cultural and organizational change that these new
business models bring.
We believe that to deliver sustainable impact to our
customers, we will need to build deeper competency in
T K Kurien
selected business processes - leveraging a combination
of process knowledge, AI and automation. Given the
complexity of skills required to achieve a holistic view, we
have merged Consulting with Digital practice.
We are now focused around building algorithmic
capability and hyper-automation to significantly reduce
cycle time for delivery, improve quality and reduce cost.
We have invested in developing targeted use cases
leveraging AI - our cognitive intelligence platform Holmes
has been deployed in over 18 customer engagements.
Additionally, we have made targeted acquisitions to
deepen customer presence and acquire capability in high
growth areas including platform-based services, Big Data,
Cyber Security and Internet of Things.
On the people front, we are driving significant retraining
efforts to ensure that our workforce skills are in line
with new business expectations. Our organizational
structure is also undergoing changes as we drive process
simplification and reduce the number of layers to allow
for greater business agility.
These shifts have fundamental implications for Wipro and
require that we need to rewire ourselves for this new age.
Over the past few decades, we have been successful in
identifying waves and benefiting from the disruptions.
This inherent DNA gives me the confidence that we will
be able to make the right adjustments to thrive in the
current disruption.
In the midst of this churn, let me reiterate that we will

Wipro Limited 13
CEOS LETTER TO THE
STAKEHOLDERS
Dear Stakeholders, our footprint and wallet share within the client landscape
through cross-selling multiple services to provide an
It is an honor and privilege to be asked to lead Wipro, a integrated solution. We are also investing in innovative
company with a rich heritage of technology and innovation business models like BPaaS (business process as a service)
that is built on a foundation of ethics and responsibility. that integrates across IT Infrastructure, Application Platforms
I would like to thank our Chairman Azim Premji and the and Business Operations and provides consumption based
Board of Directors for reposing confidence in me. The pricing to our clients.
Company has benefitted immensely from the leadership of Simplification of the client technology landscape by
my predecessor, TK Kurien, and I thank him for building a elimination of legacy activities and hyper-automation
deep leadership bench that I can benefit from coming in, and leveraging Wipros own IP, our cognitive intelligence platform
executing one of the Companys most seamless leadership Wipro HOLMES TM as well as third party IP through our
transitions. alliances with various automation providers. Over the last
The business world, in the recent past, has seen tremendous 12 months, we have implemented simplification programs
technology led business disruptions. One common and hyper automation across 42 existing clients and are able
takeaway is that it is no longer about the product; it is to significantly differentiate our proposition to new clients.
about the experience. An example of this is how online cab A key enabler to building capability and scale is working with
aggregators have changed the user experience of a cab the larger Partner ecosystem viz. M&A, start-ups, alliances,
ride. The innovations that make these experience happen academia and other strategic partnerships. Over the last 12
are disrupting the old order. Winning in the new world thus months, we have established key engagement models with
requires new business models, agile ways of working and a our Partners and our clients are able to see the benefit of such
fresh strategy, design and technology vision. a Partner eco-system enabling us to win and deliver complex
It is in the context of this business and technology system integration and transformation engagements like
environment and market opportunity that we have set postal systems, airport maintenance and market utilities
out our vision, which is: To earn our Clients trust and within financial services and other industries.
maximize value of their businesses by providing solutions Localization is key to respond to the current market demand
that integrate deep industry insights, leading technologies and socio-economic environment. We are driving higher
and best in class execution. localization in all key markets. In 2015-16, we enhanced
Our ambition is to achieve $15 billion in revenues with our local presence in Continental Europe through the
23% Operating Margins by 2020 in our IT Services business acquisition of cellent AG. Within US and UK, we are setting
segment. While the ambition is aggressive, it is an aspiration up innovation and delivery centers in Atlanta, Dallas, New
that your companys leadership believes in. It is making us York, Mountain View, London, Reading and Edinburgh. We
look at things differently, breaking away from the thinking continue to localize our workforce in all our key markets
that constrained us and is yet grounded in reality because through campus and lateral hiring as well as invest in delivery
the opportunity for such growth exists in the market. centers in growth markets such as Latin America, Canada,
Africa, Middle East, Japan and Australia.
To deliver on this ambition, we have a sound strategy,
leveraging our strengths to differentiate in the market and Drive the future (CHANGE) - We will drive the CHANGE
being relevant to our clients current and future needs. strategy through the following key themes:
Our strategy is based on two themes Modernize the Core We are investing in building digital advisory, design,
of our clients business (Run Strategy) and help our clients technology and engineering capabilities with business and
Drive the Future (Change Strategy) of their businesses. IT stakeholders leveraging our investments in Designit and
Digital Pods. Earlier this year, we integrated our Consulting
Modernize the Core (RUN) - We will continue to drive practive under our Digital practice. This enables us (1) to
market share in our core businesses through the following engage with the clients business stakeholders and be in
key themes: the forefront of shaping tomorrows business models. (2) to
Integrated domain and technology services and solutions generate consultative led demand in Digital since selling
(IT and Ops) across prioritized verticals, service lines and Digital is fundamentally different from how traditional IT
geographies. This is helping us deliver improved productivity services have historically been sold. Our recent acquisition
and efficiency gains to our clients and in turn, enhance of strategic design firm Designit, remains at the core of this
strategy as this new approach completely changes the way

14 Annual Report 2015-16

we engage with our client stakeholders in transforming their 75 business processes to empower our employees and
business. A great example of this is the recent wins we have increase their productivity. We continue to make investments
had in key clients in the banking and consumer space where aligned to our business imperatives to create a One Amazing
Wipro was named the clients Digital partner. Wipro that has the speed of a startup. We saw an example
of One Amazing Wipro at a time of the Chennai floods
Driving IP based Non Linear revenues is another strategic which impacted our operations. I want to thank the team in
priority and along with investments in AI, Open Stacks Chennai and also at other locations for their commitment,
and IoT, we will be able to provide our customers with teamwork and customer orientation during the floods last
solutions to help transform their business. Wipro HOLMESTM month. It was heartening to see our teams stretching well
is focused on solving key enterprise business use cases by beyond the call of duty- especially given that in many cases
deploying cognition into IT and Business processes. We their own homes and families were significantly impacted.
have completed pilots and proof of concepts across 18
engagements and received extremely positive feedback on While we focus on customer and revenue growth, I believe
deploying Wipro HOLMESTM. We plan to scale the number of that the only way to ensure business success is by making
use cases significantly. our clients successful. I have spent a lot of time meeting our
clients across the globe and personally understanding their
M&A continues to be a key lever to acquire strategic assets strategy, articulating our strategy and getting feedback.
to accelerate execution of our strategy. We announced 4 I believe that what we are doing is extremely relevant to
acquisitions and closed 3 within FY16. These acquisitions our clients and our clients are looking to do business with
have already started showing early signs of success. We providers with a futuristic outlook like ours. in 2015-16 our
invested in acquiring HealthPlan Services, a business with net promoter score moved by over 400 basis points to one of
market-leading technology platforms and a fully integrated the highest in the industry, positioning us as an organization
Business Process as a Service solution to Health Insurance strongly focused on client delivery and delight.
companies globally apart from cellent AG and Designit.
Our investments in innovative companies through Wipro Within the first 100 days as CEO, I met over 70 of our top-
Ventures allow us to tap innovation early. We have made 6 100 clients and key alliance partners across the globe. I am
such investments with a committed spend of $20 million in very encouraged by the trust and respect your company
the areas of Big Data & Analytics, AI, the IoT and Security. Our commands from its clients and partners and the depth of the
H2/H3 programs organically incubate capabilities, solutions relationships of our teams with their executives is enormous.
and platforms in emerging areas. In FY16, we funded 13
such areas. Given the depth of the leadership bench that I inherited,
within the first few weeks of the announcement of my
The key to a successful strategy is disciplined execution. The appointment as CEO, I communicated the new organization
execution of the strategy is monitored through the strategy structure and installed the leadership that I believe is the
and execution office. We have defined various input and right team to take your company forward. Our approach
outcome markers which are internally published monthly to leadership talent is primarily to source from within the
for the leadership to ensure that all aspects of our strategic Company, where we have significant talent. We augment
priorities are being executed with rigor. this internal talent with external hiring. The philosophy has
been to first look inside and provide opportunities to our
Finance, HR and People Transformation, M&A and Marketing employees, before we go outside. When we do go outside,
act as the key enablers for the execution of our strategy. We the endeavor is to get the best who can hit the ground
have identified 23 key client themes on technology and running.
business and named 23 key leaders across the Company
to lead these client themes cutting across traditional Overall, I am very confident that we have the right strategy,
organizational structure to transform the organization deep leadership bench, a talented and energized employee
towards the new, while we continue to focus on delivering base, support from our clients and partners. I am fortunate
the current without distraction. The leadership teams to have a very motivated, capable set of colleagues in
are collaboratively working together and are aligning to my leadership team committed to our values to build a
the concept of One Amazing Wipro where we are able sustainable world class organization and motivated with a
to bring to our clients and employees, the power of the sense of purpose to maximize the value of the 39% of the
entire organization in a unified way opening tremendous company that Mr. Premji has irrevocably transferred to the
opportunities to bring value. Trust for the larger good of society.
Enterprise transformations of the magnitude your company I will take this opportunity to thank all our stakeholders for
is undergoing, need intervention programs focused on their continued support as we take your company to newer
behavior and new ways of working. Over the past few heights in its journey towards excellence.
months, we have launched various initiatives such as
Newtons Cradle, DRIVE, OneVoice, ADROIT, PRISM and Sincerely,
TopGear focused at various employee segments across
sales, delivery, middle management, bench, technology
and domain teams to transform all facets of our workforce
to behave as an integrated, responsive, mobile and digital Abidali Z Neemuchwala
workforce. At the same time, we have simplified more than

Wipro Limited 15
BOARD OF DIRECTORS

Dr. PATRICK J ENNIS - INDEPENDENT DIRECTOR*

ABIDALI Z NEEMUCHWALA - CEO & MEMBER OF THE BOARD
T K KURIEN - EXECUTIVE VICE - CHAIRMAN
M K SHARMA - INDEPENDENT DIRECTOR
WILLIAM ARTHUR OWENS - INDEPENDENT DIRECTOR
NARAYANAN VAGHUL - INDEPENDENT DIRECTOR
* Appointed to the board effective April 1, 2016
Names listed, from left to right

16 Annual Report 2015-16

AZIM H PREMJI - EXECUTIVE CHAIRMAN
IREENA VITTAL - INDEPENDENT DIRECTOR
Dr. ASHOK S GANGULY - INDEPENDENT DIRECTOR
PATRICK DUPUIS - INDEPENDENT DIRECTOR*
RISHAD PREMJI - CHIEF STRATEGY OFFICER & MEMBER OF THE BOARD
IN ABSENCE: IN ABSENCE:
VYOMESH JOSHI Dr. JAGDISH N SETH
INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR

Wipro Limited 17
Azim H Premji of India (2009-2015). He is a former member of the Board
of British Airways Plc from 1996 to 2005 and Unilever Plc/
Chairman NV from 1990 to 1997 and Dr. Ganguly was formerly the
Azim H. Premji is the Chairman of the Board and Managing Chairman of Hindustan Unilever Limited from 1980 to
Director (designated as Executive Chairman) of Wipro 1990. Dr. Ganguly was on the Central Board of Directors
Limited and has been at its helm since the late 1960s, of the Reserve Bank of India from 2000 to 2009. In 2006,
turning what was then a small cooking fat company Dr. Ganguly was awarded the CBE (Hon) by the United
into a $ 7.7 billion revenue group with businesses in IT, Kingdom. In 2008, Dr. Ganguly received the Economic
Consulting and Business Process Services with a presence Times Lifetime Achievement Award. Dr. Ganguly received
in over 60 countries. Mr. Premji also serves as a director the Padma Bhushan award by the Government of India in
of Wipro Enterprises Pvt. Limited, Wipro GE Health Care January 1987 and the Padma Vibhushan award in January
Pvt. Ltd., and the Azim Premji Philanthropic Initiatives 2009. Dr. Ganguly holds B.Sc (Hons) from University of
Pvt. Ltd. (formerly Azim Premji Foundation (I) Pvt. Ltd.) Bombay and an MS and PhD from the University of Illinois.
and in other entities of the promoter group. Mr. Premji Dr. Jagdish N Sheth
has established the Azim Premji Foundation, which is
focused on improving public school education, working Independent Director
directly in 6 states of India which have over 350,000
Dr. Jagdish N. Sheth has served as a director on our Board
schools. The Foundation also runs the not-for-profit Azim
since January 1999 and is also a member of the Strategy
Premji University, focused on programs in education and
Committee. Dr. Sheth has been a professor at Emory
related fields of human development. He has also set up
University since July 1991. Previously, Dr. Sheth served
the Azim Premji Philanthropic Initiatives, through which
on the faculty of Columbia University, Massachusetts
impactful non-profits working in a few chosen fields,
Institute of Technology, the University of Illinois, and the
including nutrition, support to vulnerable groups and
University of Southern California. Dr. Sheth holds a B.Com
governance, are given multi-year grants. Over the years,
(Honors) from Madras University, an M.B.A. and a PhD in
Mr. Premji has received numerous honors and accolades,
Behavioral Sciences from the University of Pittsburgh.
which he considers as recognitions for Team Wipro. Mr.
Dr. Sheth is also the Chairman of Academy of Indian
Premji is the first Indian recipient of the Faraday Medal.
Marketing Professionals.
The Republic of France bestowed upon him the Legion of
Honor and in January 2011, he was conferred with Padma Narayanan Vaghul
Vibhushan, the second highest civilian award in India. Mr.
Premji has been listed as one of the most influential people Independent Director
in the world by several global publications including Time, Narayanan Vaghul has served as a director on our Board
Financial Times, Forbes and Fortune. BusinessWeek listed since June 1997. He is the Chairman of our Audit, Risk
him amongst the top 30 entrepreneurs in world history. and Compliance Committee, and a member of the Board
Mr. Premji has a graduate degree in Electrical Engineering Governance, Nomination and Compensation Committee.
from Stanford University, USA. Mr. Vaghul is also the lead independent director of the
Dr. Ashok S Ganguly Company. He was the Chairman of the Board of ICICI
from September 1985 to April 2009. Mr. Vaghul is on the
Independent Director Boards of the following public companies in India and
Dr. Ashok S. Ganguly has served as a director on our overseas: 1) Mahindra World City Developers Limited, 2)
Board since 1999. He is the Chairman of our Board Piramal Enterprises Limited, 3) Apollo Hospitals Enterprise
Governance, Nomination and Compensation Committee. Limited, and 4) Arcelor Mittal, Luxembourg. He is also on
He is currently the Chairman of ABP Pvt. Ltd (Ananda the boards of two private limited companies and several
Bazar Patrika Group). Dr. Ganguly also currently serves Section 8 companies and public trusts. Mr. Vaghul is the
as a non-executive director of Dr. Reddys Laboratories Chairman of the Compensation Committee of Piramal
Ltd. Dr. Ganguly is the Chairman of the Governance, Enterprises Limited and its 100% subsidiary, PHL Finance
Nomination and Remuneration Committee and Chairman Private Limited. Mr. Vaghul is the Chairman of the Audit
of the Science, Technology & Operations Committee of Committee of Piramal Enterprises Limited. Mr. Vaghul is
Dr. Reddys Laboratories Ltd. Dr. Ganguly was a former a member of the Remuneration Committee of Mahindra
member of Rajya Sabha, the upper house of Parliament World City Developers Limited and Apollo Hospitals

18 Annual Report 2015-16

Enterprise Limited. Mr. Vaghul holds a Bachelor (Honors) commercial high technology into the U.S. Department
degree in Commerce from Madras University. Mr. Vaghul of Defense for military applications and as the architect
was the recipient of the Padma Bhushan award by the of the Revolution in Military Affairs (RMA), an advanced
Government of India in 2010. Mr. Vaghul also received systems technology approach to military operations. Mr.
the Lifetime Achievement Awards from Economic Times, Owens is also a member of several philanthropic and
Ernst & Young Entrepreneur of the Year Award Program private company boards. Mr. Owens was a member of the
and Mumbai Management Association. He was given an Board of Directors of Daimler Chrysler AG from November
award for the contribution to the Corporate Governance 2003 to April 2009, Embarq Corporation from May 2006 to
by the Institute of Company Secretaries in 2007. July 2009 and Nortel Networks Corporation from February
2002 to November 2005. Mr. Owens holds an M.B.A.
William Arthur Owens (Honors) degree from George Washington University, a
Independent Director B.S. in Mathematics from the U.S. Naval Academy and a
B.A. and M.A. in Politics, Philosophy and Economics from
William Arthur Owens has served as a director on our Oxford University.
Board since July 2006. He is also a member of our Board
Governance, Nomination and Compensation Committee, M K Sharma
and serves as the Chairman of our Strategy Committee.
Independent Director
He has held a number of senior leadership positions at
large multinational corporations. Mr. Owens presently M. K. Sharma became a director of the Company in July
serves as the Chairman of the Board of CenturyLink 2011. Mr. Sharma is the Chairman of our Administrative
Telecom. He is also the Executive Chairman of Red and Shareholders/Investor Grievance Committee.
Bison Advisory Group (RBAG). RBAG is a company in Mr. Sharma is also a member of our Audit, Risk and
the natural resources (oil, gas and fertilizer plants) and Compliance Committee. Mr. Sharma served as Vice
information and communication technology sectors. Chairman of Hindustan Unilever Limited from 2000
Mr. Owens previously served as the Chairman of AEA to 2007. Mr. Sharma served as a full-time director of
Investors (Asia) from April 2006 to December 2014 and Hindustan Unilever Limited from 1995 to 2000. Mr. Sharma
has served as Managing Director, Chairman and Chief is currently on the boards of ICICI Bank Limited, United
Executive Officer of AEA Holdings Asia, a New York private Spirits Limited, Asian Paints Limited and Blue Star Limited.
equity company at various times during that period. Mr. Mr. Sharma is also on the board of the Indian School of
Owens also served as Vice Chairman of the New York Stock Business, Hyderabad and serves as a Governor of Anglo
Exchange, Asia from June 2012 to June 2014, as well as Scottish Education Society Limited, Mumbai. Mr. Sharma
Chief Executive Officer and Vice Chairman of the Board is the non-executive Chairman of ICICI Bank Limited and
of Directors of Nortel Networks Corporation, a global United Spirits Limited. Mr. Sharma is Chairman of Audit
supplier of communications equipment from April 2004 Committee of United Spirits Limited and a member of the
to November 2005. Prior to that, Mr. Owens served as Audit Committee of Blue Star Limited and Asian Paints
Chairman and Chief Executive Officer of Teledesic LLC, a Limited. Mr. Sharma is also a member of the Nomination
satellite communications company from August 1998 to and Remuneration Committee of Asian Paints Limited
April 2004. During that same period, Mr. Owens also served and ICICI Bank Limited. Mr. Sharma is Chairman of the
as Chairman and Chief Executive Officer of Teledesic LLCs Risk Management Committee of Asian Paints Ltd. and a
affiliated company, Teledesic Holdings Ltd. Mr. Owens was member of the Risk Committee of ICICI Bank Limited. Mr.
President, Chief Operating Officer and Vice Chairman of Sharma holds a Bachelors Degree in Arts and Bachelors
Science Applications International Corporation (SAIC) of Law Degree from Canning College University of
from June 1996 to August 1998. Mr. Owens was a career Lucknow. He completed a Post Graduate Diploma in
officer in the U.S. Navy where he served as commander Personnel Management from the Department of Business
of the U.S. Sixth Fleet in 1990 and 1991, and as senior Management, University of Delhi and Diploma in Labour
military assistant to Secretaries of Defense Frank Carlucci Laws from India Law Institute, Delhi. In 1999, he was
and Dick Cheney. Mr. Owens military career culminated nominated to attend the Advance Management Program
in his position as Vice Chairman of the Joint Chiefs of at Harvard Business School.
Staff where he had responsibility for the reorganization
and restructuring of the armed forces in the post-Cold
War era. Mr. Owens is widely recognized for bringing

Wipro Limited 19
T K Kurien is a former partner with McKinsey & Co. Prior to joining
McKinsey & Co., Ms. Vittal worked with Nestle India Limited
Executive Vice-Chairman and with MaxTouch (now Vodafone India Limited). Ms.
T. K. Kurien was appointed as the Executive Vice- Vittal serves as a board member of Titan Industries Limited,
Chairman of the Company with effect from February Tata Global Beverages Limited, The Indian Hotels Company
1, 2016. He is also a member of the Administrative Limited, Godrej Consumer Products Limited, Compass Plc ,
and Shareholders/Investors Grievance Committee and Zomato Media Private Limited and on the global advisory
Strategy Committee on our Board of Directors. In his five board of ideo.org. Ms. Vittal is also a member of Audit
years as the Chief Executive Officer and Executive Director Committee of all the aforementioned companies. Ms.
beginning February 2011, Mr. Kurien spearheaded Wipros Vittal has a graduate degree in Electronics from Osmania
transformation from a traditional IT and BPO company into University and has completed her Masters in Business
a next generation technology and consulting firm. In his Administration from the Indian Institute of Management,
career spanning over three decades, Mr. Kurien has held Calcutta.
several leadership positions encompassing strategic and Rishad Premji
operational roles. He began his career with Wipro in 2000
and has been instrumental in building and scaling many of Chief Strategy Officer & Executive Director
Wipros successful businesses. A strong votary of womens
Rishad Premji became a full-time director of the Company
rights, Mr. Kurien is a recipient of the 2014 Womens
in May 2015 and also serves as the Chief Strategy Officer.
Empowerment Principles (WEPs) Leadership Award a
Previously, Mr. Rishad Premji has served with us in other
joint initiative of UN Women and the UN Global Compact
positions since 2007. Prior to joining Wipro, Mr. Rishad
for Wipros proactive commitment to gender equality.
Premji was with Bain & Company in London, working on
He also serves on the Board of Directors of Catalyst, a
assignments across Consumer Products, Automobiles,
global organization dedicated to expanding opportunities
Telecom and Insurance. He also worked with GE Capital
for women and is the Chair of its India Advisory Board. Mr.
in the U.S. across businesses throughout the Insurance
Kurien is a Chartered Accountant by qualification.
and Consumer Lending space and is a graduate of GEs
Vyomesh Joshi Financial Management Program. Mr. Rishad Premji is also
on the Board of Wipro Enterprises Pvt. Limited, Wipro GE
Independent Director Healthcare Pvt. Limited and Azim Premji Foundation. Mr.
Vyomesh Joshi became a director of the Company in Rishad Premji has an M.B.A. from Harvard Business School
October 2012. Mr Joshi is the President and CEO of 3D and a B.A. in Economics from Wesleyan University in the
Systems. He is a member of Deans Advisory Council at the United States. He has also spent a year at the London
Rady School of Management, University of California, San School of Economics where he was part of the General
Diego. Prior to joining the Company, Mr. Joshi served as Course Program. In 2014, he was recognized as a Young
the Executive Vice President of Hewlett-Packards Imaging Global Leader by the World Economic Forum for his
and Printing Group. Mr. Joshi was also on the Board of outstanding leadership, professional accomplishments,
Yahoo for seven years until 2012. Mr. Joshi is also a member and commitment to society. Mr. Rishad Premji is also the
of the Board of Directors of Harris Corporation. Mr. Joshi son of Mr. Azim Premji, the Chairman of the Board and
has been featured in Fortune Magazines diversity list of Managing Director.
most influential people in 2005. Mr. Joshi also serves on Abidali Z Neemuchwala
our Strategy Committee. Mr. Joshi holds a Masters degree
in electrical engineering from the Ohio State University. Chief Executive Officer & Executive Director
Ireena Vittal Abidali Z. Neemuchwala is the Chief Executive Officer
and Executive Director of the Company with effect from
Independent Director February 1, 2016. Previously, he served as Group President
Ireena Vittal became a director of the Company in October and Chief Operating Officer of the Company with effect
2013 and she also serves as a member of our Audit, Risk from April 1, 2015. Mr. Neemuchwala spearheaded several
and Compliance Committee and Administrative and initiatives across Global Infrastructure Services, Business
Shareholders/Investors Grievance Committee. Ms. Vittal Application Services, Business Process Services, and
Analytics to create a more nimble and agile organization.

20 Annual Report 2015-16

Mr. Neemuchwala believes that in todays digital world, on improving PayPals customer experiences, eliminating
successful organizations are the ones, which have the upstream cost drivers and delivering continuous
ability to convert consumers aspirations into instant productivity and re-investment capacity. Mr. Dupuis
gratification. Reflecting the same he delivered his popular joined PayPal in 2010 as Chief Financial Officer to help
keynote at the Oracle Open World 2015 articulating PayPal expand globally and build a sustainable growth
the new world order, in which customers buy digital company. He was directly involved in PayPals separation
experience as-a-service. Mr. Neemuchwalas career from eBay Inc. and its listing on the Nasdaq in 2015. Mr.
includes a 23 year tenure in Tata Consultancy Services, Dupuis was previously the Chief Financial Officer of Sitel,
where he handled multiple roles in business, technology, a leader in customer service and BJC HealthCare, one of
sales, operations and consulting. In his last role, he the largest non-profit health care organizations in the US.
headed the Business Process Services (BPS) business. In both companies, he was a driver of operational changes
He was awarded the BPO Chief Executive Officer of the in times of significant external pressure. He previously
year 2010 and in the year 2012 the Shared Services spent 20 years at General Electric Co., where his last two
Organization of IPQC recognized him for his personal roles were Chief Financial Officer of BJC HealthCare and
contribution to the industry. Mr. Neemuchwala has a General Manager of GE Capital International Services (now
Masters Degree in Industrial Management from Indian Genpact Ltd.), two global, complex and fast- growing
Institute of Technology Mumbai and a Bachelors Degree in businesses. Mr. Dupuis serves as a member of our Strategy
Electronics and Communication from National Institute of Committee. Mr. Dupuis graduated from the cole de
Technology, Raipur. He is also a Certified Software Quality Management de Lyon in France.
Analyst and a Certified Six Sigma Green Belt.

Dr. Patrick J Ennis

Independent Director
Dr. Patrick J. Ennis became a director of the company in
April 2016. Dr. Ennis has more than 25 years of experience
as a scientist, engineer, businessman and venture capitalist.
Dr. Ennis serves as a member of our Strategy Committee.
He is currently at the Invention Development Fund of
Intellectual Ventures where he invests in technology
commercialization worldwide via an international open
innovation network of thousands of inventors. Previously
he was at ARCH Venture Partners where he built startups
from universities and national labs. He also held positions
with Lucent, AT&T and Bell Labs, and conducted research
in Nuclear Physics at labs in North America and Europe.
He is an inventor of several patents, has written articles
and book chapters and is a frequent invited speaker. Dr.
Ennis has served on numerous corporate, educational, and
non-profit boards. He earned a PhD and M.S. in Physics
from Yale, an M.B.A. from Wharton and a B.S. in Math and
Physics from the College of William & Mary where he was
elected to Phi Beta Kappa.

Patrick Dupuis
Independent Director
Patrick Dupuis became a director of the company in April
2016. He is Senior Vice President for Simplicity, Quality
and Productivity at global technology platform and
payments leader, PayPal Holdings, Inc. where his focus is

Wipro Limited 21
 (Kg of CO2 equiv. per Sq. Mt. per annum)
RENEWABLE ENERGY 2015 - 2016 -116
75 Mn units. 2014 - 2015 - 130
23% of our total office space 0 40 80 120 160 200
energy consumption GHG Intensity for offices
Energy Consumption Per employee
Water Recycling
water consumption
2,088 virtual servers
running on 147 physical 1.295 m3 per month in
2015-16 compared to
32%
servers. Energy savings
1.36 m3 per month in 2014-15 in
approximately 9 Million REDUCING 4.8% reduction 2015-16
units annually
OUR
(kWh per employee per Sq. Mt. per annum) ECOLOGICAL Butterfly Park at Started Biodiversity
Electronic city campus programs at two of our
2015 - 2016 -189 Energy IMPACT completed in 2013. campuses in Pune.
Intensity Increased native species
2014 - 2015 - 196 Phase 2 Wetland by nearly 4 times to 242
Park work underway species.
0 40 80 120 160 200

92% of Total Waste from IT India

operations recycled or reused.
Categorywise goals for organic,
inorganic, mixed solid waste and e-waste SUSTAINABILITY
Sustained use of Yammer as the
HIGHLIGHTS RE
enterprise social networking platform a. Wip
Over 85,000 users with Eth
b. Wip
7,500 groups.
Diversity at Wipro and
c. Wip
a) 32% Women La
Wipros employee assistance b) Workforce comprising 100+ nationalities in 55 countries d. Wi
and counselling program c) 368 employees with disabilities as on March 31, 2016 Ind
A d) Sign language interpretation for key employee e. Wip
completes 12 years.
SUSTAINABLE, communication. Online portal Kinesics for (DJ
of t
EMPOWERING learning sign language
f. Cha
e) Networking opportunities to connect at Global Forums -
Engagement scores in the WORKPLACE A Wiproite chosen among four others from India to 1st
Employee Perception Survey Cha
represen at UNs Global Disability Forum
(EPS) increased by 100 basis g. Wip
f) 100+ high potential women employees enrolled as mentees Ma
points compared to EPS 2013. in the 4th batch of Women of Wipro (WoW) Mentoring in t
Program h. Wip
Cor
Employees, contractors and service Sec
160,000
providers attended trainings on Health Employees
& Safety, Safe Transportation, Hospitality,
Security, Emergency Response Drills.

22 Annual Report 2015-16

 Launched in Chicago, New York and
Seeding Fellowship
Wipro Science Boston to improve Science and Math program launched to
education in schools primarily support individuals Instituted an award for childrens literature in
Education partnership with Goodbooks Trust and The Hindu Lit
serving disadvantaged communi- and groups starting Wipro Fest
Fellowship ties. organizations
Works with 250-350 teachers across Education
Program in 20 school districts who go through a working in school Continued supporting 16 organizations through
the U.S.A. 2 year fellowship. programmatic grants, fellowships, conferences and
publications

Increased participation reach to 2,000

schools, 1,500 colleges and 2,200
teachers in 45 districts across 21 states
Sustainability quiz was successfully
launched at the IIM-A and IIM-B - 227
teams and 681students participated
BEYOND THE
BOUNDARY Engagement with 1,300 Institutes from 30
states in India
54 MTLCs (Mission10X Technology
es Learning centers) operational in 12
2 states.12 Affiliations including NASSCOM
and ISTE and 3 International affiliations

Education of
children with disability Access to social benefits to around 2,000 waste workers
projects supports the educational
in Bangalore.
Wipro
& rehabilitative needs Cares Education program reaches out to more than 64,000
of over 2,500 underprivileged children from disadvantaged communities in 8 cities.
children through
12 projects

RECOGNITIONS Health care Digital, System Integrator (SI) , Consulting,

a. Wipro named as a 2016 Worlds Most Ethical Companies by the services reached Outsourced R&D, Infrastructure services and
out to around D& R Business process services across domains and
Ethisphere Institute for the 5th successive year 30,000 people
geographies
in nearly
b. Wipro wins NASSCOM Corporate Award for Excellence in Diversity 60 villages
and Inclusion 2016
c. Wipro Ltd received A Rating with a PLATINUM Sustainable Plus
Label from CII for 2015, for second consecutive year Analytics, Cloud based services,
ries d. Wipro has been ranked No:1 in the Carbon Disclosure Leadership orpiW EcoEnergy Energy Management
6 Index (CDLI), India for the third time in succession. ecneicS Solutions, Internet of Things,
e. Wipro recognized as member of Dow Jones Sustainability Index noitacudE Mobility, Open Source, Information
Management, Enterprise Security
(DJSI), World for the sixth time in a row. Wipro is also a member CUSTOMER
of the DJSI Emerging Markets Index.
f. Channel NewsAsia, Sustainalytics and CSR Asia, have ranked Wipro STEWARDSHIP
ms -
1st among the 100 most sustainable corporations in Asia in the 2015 Customer satisfaction scores
Channel NewsAsia Sustainability Ranking. increased by 420 basis points for
g. Wipro selected as a member of the Euronext Vigeo Emerging 2014-15 as compared to the
mentees Market Sustainability Index (the 70 most advanced companies previous year
in the Emerging Market Region)
h. Wipro was awarded The ICSI National Award for excellence in
Corporate Governance for 2015 by the Institute of Company Sustainability assessments front ended by
Secretaries of India (ICSI) customers:
Ecovadis CSR rating of Gold and
Verego Best in Class across five areas.

Wipro Limited 23
MANAGEMENT DISCUSSION
AND ANALYSIS - AN INTEGRATED APPROACH

24 Annual Report 2015-16

 Capabilities and efforts of workforce
creates intellectual capital

INTELLECTUAL HUMAN
CAPITAL CAPITAL
Nonlinear revenues
create financial value

EXAMPLES OF
INTERRELATIONSHIPS
Investment in people
through retention,
Deployment
training and

BETWEEN CAPITALS
of skilled
development workforce for
customer
projects

Financial capital enables

investment in innovation
leading to IP Create financial capital
FINANCIAL through customer
CAPITAL satisfaction, new business
and retained customers
Natural capital
(land use, energy and
water consumption) in
operations and supply
chain supports financial
value creation

Partners (suppliers,
alliances) and investors
enable financial capital
SOCIAL &
exchanges
RELATIONSHIP
CAPITAL
NATURAL
Note: : Education and community initiatives are CAPITAL Investing in
an integral part of social capital with linkages environmental
to other capitals. It has a wider mandate and management programs
is driven by our values and belief in being a (Renewables,
energy efficiency, Suppliers Customers
responsible corporate citizen.
water and waste management) Investors

AN INTEGRATED APPROACH
Businesses operate in a complex and ever changing setters, the accounting profession and NGOs promoting
environment. This environment is influenced by many communication about value creation as the next step in the
macro-economic factors, rapid technology developments, evolution of corporate reporting.
dynamic stakeholder requirements and various context driven
environmental and social conditions. Traditionally, corporate The Integrated Reporting (IR) Framework establishes the
annual reports focus on financial performance and statutory Guiding Principles and Content Elements that govern the
requirements. An Integrated Report incorporates financial and overall content of an integrated report. The Guiding Principles
non-financial information governance, environmental and that underpin the preparation of an integrated report and
social - in a manner that can help stakeholders understand how influencing the content of the report are strategic focus and
a company creates and sustains value over the long-term. future orientation, connectivity of information, stakeholder
relationships, materiality, conciseness, reliability and
This report is an attempt to align to the principles of completeness, consistency and comparability. The content
International Integrated Reporting Framework developed by elements expected of an Integrated Report are organizational
The International Integrated Reporting Council (IIRC), which is overview and external environment, governance, business
a global coalition of regulators, investors, companies, standard model, risks and opportunities, strategy and resource allocation,

Wipro Limited 25
performance, outlook and basis of presentation. The resources (the NASSCOM Report) in FY16, IT export revenues, from
and relationships used and affected by an organization India grew by 12.3% in constant currency, to an estimated
collectively referred to as the capitals in this Framework form $108 billion. NASSCOM expects FY17 export growth rates to be
the crux of the report and these capitals are financial capital, between 10% and 12%. We believe the IT Services industry has
manufactured capital, intellectual capital, human capital, social significant growth potential.
and relationships capital and natural capital.
In the last few years, enterprises around the world are
This report provides a consolidated perspective of economic, embracing the reality that digital transforms every aspect of
social and environmental aspects material to our strategy and business. Experiences, consumers, entire industries, business
our ability to create and sustain value to our key stakeholders. models and ways of working are all rapidly and fundamentally
The report covers the nine principles of National Voluntary changing. Recognition of these trends, combined with the
Guidelines from the Ministry of Corporate Affairs - a mapping realization that enterprises may not be able keep up with
table is provided at the end of this section. The topics covered in this pace of change, has a profound impact on our clients.
the report were identified through a materiality determination This requires new business models, new ways of working and
exercise conducted in 2015-16. The methodology followed integrated capability across strategy, design and technology.
is detail in our Sustainability Report that can be accessed at According to NASSCOM Perspective 2025: Shaping the Digital
http://wiprosustainabilityreport.com/14-15/?q=materiality- Revolution the Indian technology and services industry is on
determination. track to reach $200 billion to $225 billion in revenues by 2020,
from a base of $143 billion in 2016, and furthermore, to reach
Identifying and understanding stakeholders, their priorities revenues of $350 billion by 2025. The digital transformation of
and engaging with them is key to materiality determination. businesses provides opportunities for IT Services industry in
At Wipro, stakeholder engagement is an ongoing process and providing a range of new services.
the details are summarized in our Sustainability report. Refer
to http://wiprosustainabilityreport com/14-15/?q=wipro-and- IT Products
its-stakeholders.
The key components of the hardware industry are servers,
desktop, notebook and tablet computers, storage devices,
INDUSTRY OVERVIEW peripherals, printers and networking equipment. According
to the NASSCOM Report, the hardware segment of the IT-
IT Services Business Process Management (IT-BPM) market in India is
Fast-evolving technology landscapes, dynamic economic estimated to be $13 billion in fiscal year 2016 or 25% of the
environments and the emergence of digital business has India IT-BPM industry including e-commerce. According to the
created a need for enterprises to look for a partner to advise, NASSCOM report, the size of the hardware market in India has
design and execute their technology transformation and been stagnant at $13 billion for the last two years. Emergence
support programs. Large multinational enterprises are of cloud computing technologies is affecting demand for IT
engaging global IT Services companies who can deliver high products like servers.
quality service on a global scale and at competitive costs. Over
the past two decades, with the emergence of the internet BUSINESS OVERVIEW
and inexpensive connectivity, the global delivery model of
service delivery has risen to become the preferred model in We are one of the leading providers of IT services globally.
sourcing of IT services, business process services and research We combine the business knowledge and industry expertise
and development services. In this period, service providers of our domain specialists and the technical knowledge
have gained technological expertise, domain competency and implementation skills of our delivery team leveraging
and delivery capability by either developing organically or our products, platforms, partnerships and solutions in our
by acquiring companies with these competencies. Large development centers located around the world.
multinational enterprises are engaging global IT Services
companies to deliver high quality service on a global scale and We develop and integrate innovative solutions that enable
at competitive costs. our clients to leverage IT to achieve their business objectives
at competitive costs. We use our quality processes and global
Global IT service providers offer a range of end to end software talent pool to deliver time to development advantages, cost
development, digital services, IT business solutions, research savings and productivity improvements.
and development services, technology infrastructure services,
business process services, consulting and related support Our IT Services business provides a range of IT and IT-enabled
functions. According to the Strategic Review 2016 of the services which include digital strategy advisory, customer
National Association of Software and Service (NASSCOM) centric design, technology consulting, IT consulting, custom

26 Annual Report 2015-16

application design, development, re-engineering and digital transformation enabled by Digital Capabilities brought
maintenance, systems integration, package implementation, by Wipro and its partner ecosystems.
global infrastructure services, analytics services, business
process services, research and development and hardware
and software design to leading enterprises worldwide. The RUN STRATEGY - Modernize the Core
markets we serve are undergoing rapid changes due to the Integrated Services | Simplification
pace of developments in technology, innovation in business Hyper-Automation | Alliances | Localization
models and changes in the sourcing strategies of clients.
Pressures on cost-competitiveness and an uncertain economic 1. Integrated Services
environment are causing clients to develop newer business
models. On the technology front, digital business has changed Enterprises are looking for the right partner in helping them with
the nature of demand for IT services. Development of advanced business outcomes. Traditionally, IT services have evolved across
technologies such as cloud based offerings, big data analytics, distinct set of services. In recent times, the expectation from
mobile applications and the emergence of social media are vendors is to solve clients business problem leveraging domain
shifting the point of decision-making on IT sourcing within knowledge and synergistic integration of multiple services. The
clients organization from the traditional Chief Information emergence of As a service consumption models is leading to a
Officer to newer stakeholders such as Chief Marketing Officer, market demand for delivery of integrated services e.g. BPaaS
Chief Digital Officer, Chief Risk Officer etc. These trends on (Business Process as a Service).
newer business models, emerging technologies and sourcing We have set up dedicated Integrated Services and Solutions
patterns provide us with significant growth opportunities. Group (ISSG) with a mandate of integrating end-to-end
technology solutions from multiple service lines like Applications,
Our IT Products segment provides a range of third-party IT Infrastructure services and Analytics. In integrating services to
products, which allows us to offer comprehensive IT system solve customers business problems, the unit will consider
integration services. These products include computing, reference architectures, selection of tools and platform, cost
Platforms and Storage, Networking Solutions, Enterprise effectiveness of solution and best practices. An example is the
Information Security, and software products, including Managed File Transfer as a Service (MFTaaS) platform which is a
databases and operating systems. We have a diverse range cloud offering enabling large file transfers in organizations in a
of clients, primarily in the India and Middle East markets from secure manner. The MFT platform has transformed B2B (business
small and medium enterprises (SMEs) to large enterprises in to business) enterprise file transfers for global customers
all major industries. including Fortune 500 customers.
2. Simplification
BUSINESS STRATEGY Enterprises are focused on cost reduction with improved
Our vision To earn our Clients trust and maximize value of quality of service and reliability, coupled with variable pricing
their businesses by providing solutions that integrate deep arrangements. Wipros approach to achieve enterprise objectives
industry insights, leading technologies and best in class is to deliver simplification of client technology landscape
execution. through consolidation, elimination and automation. We are
building automation assets covering Application Development
Our ambition is to achieve $15 billion in revenue with 23% and Management services. Our aim is to offer value added
Operating Margins by 2020 in our IT Services business segment. solutions through portfolio rationalization, modernization,
cloud migration and SaaS / PaaS offerings. We focus on target
Technology has become increasingly central and core operating model with capabilities such as Cloud Ready AMS,
to enterprises across industry segments. In addition, Crowd Sourced AMS, and Digital Ready AMS towers.
consumerization of IT has led to blurring of boundaries
3. Hyper-Automation
between business needs and technology enablement. This
has led to clear separation of priorities and shifting ownership Our focus is to help clients achieve their Run goals through
between the Run side and the Change side of our clients significant cost optimization in operations by deploying cutting
businesses. edge platforms and technologies that drive Hyper-automation
and achieve industrialization of service delivery.
Our strategy thus addresses our clients Run and Change
Hyper automation is a focused initiative for us to drive, not
agenda. The Run Strategy is about Modernizing the Core of
only the delivery productivity, but also the new way of work
our clients process and technology landscape i.e. help clients
as we see Cognitive and Robotic process automation (RPA)
achieve significant efficiencies in their core operations through
drastically changing traditional IT delivery model. In FY 2015-
various levers in all of our core markets. The Change Strategy
2016 we have done successful Proof-of-Concept (PoC) in this
(i.e., Driving the Future) is focused on helping clients achieve

Wipro Limited 27
area across large clients. In FY 2016-2017 we plan to do large
scale roll out across various archetypes, namely infrastructure CHANGE STRATEGY - Driving the Future
and application managed services, application development Digital and Advisory | Non-Linearity
and testing services. World class Ecosystem | Invest to lead in the future
We developed Wipro HOLMESTM, a Cognitive AI Platform with a
rich set of cognitive computing services based on open source
software. It is focused towards solving key enterprise business
use cases by injecting cognition into IT and Business processes. 6. Digital and Advisory
Wipro HOLMESTM enables development of various types of With clients across industries driving adoption of Digital and
AI applications like Intelligent Virtual Agents, Anticipatory leading with Digital transformation, expectations from service
and Predictive Systems, Cognitive Process Automation, Visual providers are to partner and enable organizations design,
Computing and Human Computer Interface, Knowledge strategize and partner in executing through the transformation
Processing Systems. The automation platform is backed by the process. In addition as Enterprises go Digital, business
approach to deliver simplification in IT and Operations landscape stakeholders are playing a key role in influencing and driving
through consolidation, elimination and automation. technology decisions given the core role of Digital technologies
4. Alliances in enabling businesses go Digital.

We have a dedicated unit to deepen and widen alliance Thus, as clients increasingly transform to become Digital
ecosystems to drive creation of new markets and solutions, providers of products and services, we continue to invest and
expand in key verticals/geographies and drive Go-To-Market build capabilities in Digital Strategy, Design, Architecture and
(GTM) outcomes. We have classified alliances as follows: Engineering. These capabilities help Business and IT stakeholders
achieve Digital goals leveraging the breadth of talent at Wipro
Strategic Alliances: Multiple product lines with across superior data analytics, engineering and design.
significant business volume and potential.
Our vision of the Digital business across advisory, design and
Growth Alliances: Single practice alliances. technology is securing mindshare amongst existing and new
Niche Alliances: Niche products with differentiated customers. We believe Consulting capabilities in Business and
solutions. IT Strategy, Functional and Process Excellence are critical to the
Advisory offering in Digital along with design and technology
5. Localization pillars. With this in view, we have aligned our Consulting services
Key geographies such as Continental Europe, Canada, Latin with the Digital unit to further boost the capabilities of both
America, Africa and Asia-Pacific region are emerging as areas of units.
growth for the IT services industry. We believe that commitment Our acquisition in the Digital and Strategic Design space, Design
to these geographies is important in growing our business. it, has integrated well with our digital unit. Harmonizing teams,
We are driving a higher localization in all our key markets. In cultures and capabilities has created differentiated positioning in
Continental Europe, we enhanced our local presence through the market for us. Our clients are beginning to see the benefit of
acquisition of Cellent AG, an IT Services company serving design and engineering working together to deliver remarkable
Germany, Austria and Switzerland. The acquisition has stabilized customer experiences at speed and at scale. The joint GTM
and the traction is positive. We are enhancing local delivery is securing synergy deal wins for us. For example, the design
capability at multiple locations. We are investing dedicated capability combine d with our technology skills helped us win
efforts in growth markets like Latin America, Canada and Africa. a large digital engagement with a global bank.
We expect locals as a percentage of the workforce to increase as In 2015-16, we launched a program to train approximately 10,000
we execute on this theme and diversity is a key strategic priority professionals in digital technologies. We are ramping up this
as part of our globalization. capability significantly to cover another 20,000 professionals in
We are also taking many local initiatives in engaging with 2016-17. Our focus is to build high caliber teams covering high
the local industry, universities, community and entering into end engineers, top end coders, digital architects, data scientists,
partnerships with local entities. digitization consultants, service design experts, specialized
digital delivery practitioners, industry focused strategists
and solution experts. Keeping in line with this priority, we
have launched the Digital Academy to train super specialized
engineering talent and are running specific enablement
programs to transform customer facing and delivery teams to be
Digital ready. We opened Digital pods in London and New York
to offer enhanced transformation services to global customers.

28 Annual Report 2015-16

7. Non-Linearity our acquisition program to increase our presence in select
geographies, increase our footprint in certain large customers
Given the need to address business challenges with speed and
and pursue select business opportunities. Key acquisitions
to differentiate amongst service providers, we continue to drive
consummated during the year ended March 31, 2016 are
use of intellectual property to drive non-linearity in our business.
Designit, Cellent and HPS.
We have a significant thrust to drive non-linearity through
Designit is a global strategic design firm, helping businesses tap
investments in Intellectual Property in the form of products (like
into the opportunities in the digital age by turning technology
Gallagher, Opus, Healthplan Services (HPS), Promax, platforms
into meaningful experiences. With an international team of
(like Wipro HOLMESTM), frameworks and solutions.
designers, strategists, and technologists across nine offices
We have formed a dedicated unit to drive non-linear revenue in Denmark, Germany, Spain, Norway, Sweden, Israel, Japan
growth by leveraging IP based products, platforms and solutions and Brazil, Designit uses a strategic Design Process to design
as well as through automation and innovative commercial unified product-service experiences that bring end-user value,
constructs and delivery models. business value and business transformation. This acquisition will
complement the capabilities of an established design leader
Wipro HOLMESTM continues to receive strong adoption with
with Wipros engineering heritage and bring compelling value
18 engagements across diverse industry segments. During the
to the clients. Designits expertise in experience-driven design
year ended March 31, 2016, we successfully completed a pilot
complements Wipro Digitals capabilities in technology, digital
engagement in deploying and implementing an eKYC Wipro
strategy, design, and digital architecture. Together, the two
HOLMESTM solution in a Wall Street Bank.
organizations become a comprehensive and scalable global
We have filed for a number of patents on Wipro HOLMES TM digital transformation partner to improve customer experience
and initiated two new research programs in collaboration with while radically digitizing business operations.
leading universities. Overall during FY 2015-2016 we filed for 514
Cellent is a leading IT consulting and software services company
patents and we now own over 1,085 patents (including patent
offering holistic innovative IT solutions and services in the DACH
applications) in nine jurisdictions.
region of Germany, Austria and Switzerland.
8. World class Ecosystem
HPS offers market-leading technology platforms and a fully
Given the pace and scale of disruption in the technology integrated Business Process as a Service (BPaaS) solution to
landscape, it is imperative to have a proactive and structured Healthcare Insurance companies (Payers) in the individual, group
approach to work with the innovation ecosystem. Our ecosystem and ancillary markets. The acquisition would be closely aligned
strategy is defined around building and nurturing four types with Wipros key levers for growth, which is, to dominate the
of ecosystem plays through Start-ups, M&A, Consulting services market through platform led or BPaaS offerings. Wipro
partnerships and academia partnerships. would gain the competitive, early mover advantage in the high
growth public and private exchange space for individual, group
Start-up partnerships
and ancillary markets. This would also strengthen Wipros Payer
As part of a start-up engagement model, we have invested in portfolio with access to HPSs Payer clientele.
building a world class ecosystem through a US$ 100 million
During the year ended March 31, 2016, we also announced our
corporate venture capital fund, Wipro Ventures, aimed at
intent to acquire the Viteos Group. Viteos Group service portfolio
investing in cutting edge start-ups in areas such as Digital,
includes shadow-accounting services, middle and back-office
Internet of Things (IoT), Big data, Open source, Cybersecurity
outsourcing services. This acquisition will expand Wipros capital
and Artificial Intelligence (AI). In 2015-16, Wipro Ventures has
markets portfolio in fund accounting services and enhance
seen strong traction and scale. We have made 6 investments with
Wipros Business Process Services capabilities.
a cumulative spend of US$ 15 million and a further committed
spend of US$ 5 million in FY16 in start-ups working in Big Data Consulting partnerships
and Analytics, Artificial Intelligence, the Internet of Things,
Clients are seeking to work with partners who can answer
Mobility, Cloud Infra, Fintech and Security technologies that
strategic questions and execute on the mandate. We are
are reshaping the future of enterprises.
exploring key partnerships in areas such as Digital that can
M&A complement our strong capabilities in design, engineering and
technology.
Acquisitions are key enablers in building capability in industry
domain, emerging technology areas, Digital and increasing Academia partnerships
market footprint in newer markets. We focus on opportunities
The objective of academia partnerships is to drive a research
where we can further develop our domain expertise, specific
oriented/futuristic technology research and capability build
skill sets and our Global Delivery Model to maximize service
aligned to academia objectives. Our focus is to work with
and product enhancements and higher margins. We also use
academia in United States, Europe, Israel and India in the fields

Wipro Limited 29
of computer and electrical engineering. There are three models development, leadership development and skill enhancements
of engagement, project, program and joint research. We have among our global team. It is our aim to be a diverse global
current partnerships with universities and industry associations company that not only serves clients but also empowers our
and our endeavor is to expand these partnerships in the defined employees worldwide to increase their expertise beyond their
areas aligned to our strategic areas of interest. industry peers.
9. Invest to lead in the future BUSINESS MODEL
Given that the disruption in technology is resulting in newer
opportunities in the areas of Internet of Everything (IoE), Business segment overview
Software Defined, Cybersecurity, Open stacks and AI, we Our business comprises of the IT Services and IT Products
continue to invest in emerging technologies. segments. To align ourselves with industry trends, we elected
IoE to start providing our IT Services segment revenue and results
by industry verticals beginning with the year ended March 31,
We have a dedicated unit in place to address the IoE 2014. Our industry verticals are subject to change and may
opportunity by delivering platforms, framework and vary depending on industry trends. Please see Note 29 of the
solutions based on use cases across industries such as Notes to Consolidated Financial Statements for additional
Manufacturing, Retail, Utilities and Healthcare segments information regarding our segments and IT Services verticals.
(e.g., Heavy Equipment Asset Tracking).
Software Defined
We have significantly invested in building a center of
excellence to showcase our capabilities in SDX (Software
Defined Everything). There is a significant focus to enhance
skill sets across Software Defined Storage, Software Defined
Network, Software Defined Data center and Cloud.
Cybersecurity
Given the rise of connected devices and transition to
cloud, the impact of threats will continue to increase since
threat attack area is increasing beyond the enterprise. We
have invested in building deep capability to secure our
customers assets and IT estate from cyber threats.
Open Source
We are leveraging the open source ecosystem to drive
thought leadership through community and industry IT SERVICES
partnerships. We have a dedicated open source council set
up to drive collaboration and seamless execution of open Offerings
source services (e.g., Open Datacenter, Open Apps and
We are a leading provider of IT services to enterprises across
Open Network) and solutions across service lines.
the globe. We provide a range of services which include
To enable effective implementation of the Run and Change digital strategy advisory, customer centric design, technology
strategies, we are making focused investments in brand building, consulting, custom application design, development, re-
creating the right organization structure, processes, technology, engineering and maintenance, systems integration, package
people and driving significant sales transformation through a implementation, global infrastructure services, business
number of focused programs. process services, cloud, mobility and analytics services, research
and development and hardware and software design. We offer
Driving differentiation and leadership through our people
these services globally leveraging our products, platforms and
We believe that our employees are the backbone of our solutions through a team of over 170,000 employees using our
organization and a key differentiator in the global market for Global Delivery Model. Our key service offerings are outlined
IT services and IT products. We are committed to recruiting below:
and training highly skilled employees, service providers and Digital: At Wipro Digital, the digital arm of Wipro, we dream,
leaders. Our aim is to build a best in class global leadership design and build people-centered and human-shaped
team and provide our employees with attractive opportunities experiences for a digital world. We are an innovation-led,
for career enhancement and growth. We continue to design digital transformation partner. We focus on the insights, the
and implement processes and programs to foster people interactions, the integrations, and innovations that matter

30 Annual Report 2015-16

 for brands, businesses and their customers. Combining the Enterprise Architecture: We assist clients in establishing
expertise of our acquired design firm, Designit and our the structure, processes and tools for improvements in
Buildit engineering and continuous delivery group, we technology governance and the metrics they need to
bring strategic design and strategic tech to help reimagine measure the alignment of their IT landscape with their
product-service experiences around the customer. business goals. Our solution enablers, which are called
Smarter Applications, accelerate adoption of next
Our multi-disciplinary, purpose-built team includes
generation architectures.
experts in digital and marketing strategy, service design,
user interaction, technology and agile development and Enterprise Security Solutions: We help enterprises to
more. Our extensive experience solving complex business, enhance security strategy and information security
marketing, and technology problems in industries including posture and enable compliance programs by innovative
finance, manufacturing, media and telecommunications, security platforms like Risk Intelligence Center, Data
retail, consumer goods, transportation, government, health Governance Center, Security Intelligence Center,
and life sciences, and energy brings unrivalled capability, Security Assurance Center and Security Management
scale, agility and acceleration to client engagements. To Center.
learn more, visit http://wiprodigital.com.
Testing Services: We deliver functional assurance,
Wipro Consulting Services consults and leads organizational better quality and enhanced performance with our
and business process transformation to improve offerings like risk-based testing, cloud testing, business
performance, increase effectiveness, reduce costs and assurance, ready to deploy tools such as model based
improve resilience. We introduce leading edge practices testing and test lifecycle automation and industry
and offer business advisory, business and functional point solutions such as Digital Assurance platform.
transformation, IT consulting and risk and compliance To learn more access http://www.wipro.com/
services to many of the worlds leading organizations, applications/
governments and institutions. To learn more, visit http://
Ser vice Transformation Group: The Ser vice
wipro.com/services/consulting.
Transformation Group is instrumental in evaluating the
Application Services: We offer integrated business market trends and identifying and incubating the next
solutions that span across enterprise applications and generation technologies which can help customers to
digital transformation to security and testing. We offer transform their business and technology landscape in
services designed to help customers integrate digital next 1-3 years. The group specializes in technologies
technologies and remain agile. While also keeping their like Open Source, Google Enterprise Technologies,
business efficient and secure. Our service offerings include: Amazon Web Services, Apple technologies, Agile and
DevOps, Blockchain and SaaS/PaaS based innovative
Oracle Application Services: We deliver end-to-end
platforms like Treasury Decision and Analytics, Next
services across the entire Oracle product spectrum
Generation Customer Experience, Mobile Payments
including E-Business suite, Oracle Cloud Applications
etc. by deeply engaging with customers, co-innovating
(HCM, CRM, ERP) and Engineered Systems.
with partners and collaborating with the industry
SAP Application Services: Our expertise spans the ecosystem.
entire SAP product spectrum including SAP HANA, SAP
Global Infrastructure Services (GIS): GIS is an end-to-end
Cloud Applications (SF, Ariba) Hybris, BW on HANA, and
IT infrastructure and management service provider that
Mobility solutions.
helps global clients in their digital evolution. From Business
Connected Enterprise Services: Our solutions like Advisory, Cloud Migration, Data Center Transformation,
Digital Customer Experience Management (DCxM) Workplace Transformation, Networks, Managed Services
and Encore (Next Gen Commerce Solution) enable to System Integration our infrastructure services and
businesses to engage customers, drive sales, enhance solutions suite covers it all. This unit has a global team
customer experience and create an integrated of over 32,000 infrastructure consultants. It has a culture
enterprise that delivers a consistent, omni-channel of innovation and a startup mindset, and is backed by a
customer experience. strong network of strategic technology partners, integrated
ServiceNXT operation centers, 14 data centers as well as
Cloud Application Services: We drive solutions and
Wipros homegrown automation platform Wipro HOLMES.
services for key front-office and back-office enterprise
To learn more access http://www.wipro.com/infrastructure-
processes (HCM, CRM, ERP) by leveraging best-of-breed
services/
SaaS solution stacks and ecosystem partners. We have
extensive experience in advisory, implementation, Product Engineering Services Group (PES): PES
rollout, migration and application support. facilitates breakthrough product and engineering services

Wipro Limited 31
 transformations across all major industry verticals. Our Business Intelligence: The Business Intelligence (BI)
specialized team of over 10,000 professionals combined practice is focused on helping businesses unleash the
with in-house innovation labs deliver end to end value from their data and provide timely, contextual
Engineering R&D services ranging from product strategy and relevant actionable insights rendered through rich
and proof of concept to product development, testing and and interactive visualizations. Powered by accelerators,
compliance and outsourced manufacturing. Over the years, metadata extractors and visualization frameworks
PES has revolutionized product engineering at numerous the BI tools offered by Analytics help decision makers
global corporations by building innovative customer make informed decisions, identify new business
experiences, personalizing products for new markets, opportunities and create sustainable competitive
integrating next-generation technologies, facilitating advantage. Joint go-to-market partnerships with
faster time to market, and ensuring global product leading vendors in the space have helped the practice
compliance. In our bid to make the world a connected in building competency and innovation to develop
and smarter place, the group is making significant intellectual property like Snipe and DNAi that directly
developments in new age technology paradigms such address common business obstacles. To learn more
as the Internet of Things, Cloud platforms, 3D Printing, access http://www.wipro.com/analytics/solutions/
Virtualization, Smart devices and Artificial Intelligence. wipro-snipe-bi-transformation-solution/
To learn more access http://www.wipro.com/product-
Database: The Database practice focusses on
engineering/
enriching Analytics competency in IT architecture
Analytics: At Analytics, the spectrum of offerings cover and consulting. Offerings from the practice include
the entire length of the Data-Information-Insight Supply Database Architecture and Consulting, Database
Chain including artificial intelligence, machine learning, Migration Services, Performance Engineering and
advanced analytics, data and information management Data Modelling.
and big data platforms. We focus on developing end-to-
Business Process Services (BPS): BPS is a global leader
end analytics and information strategies for businesses
in providing next generation technology-led business
by using our advanced analytics capabilities that leverage
process services to global enterprises. We offer powerful
our pre-built industry and process specific solutions. The
business intelligence and reporting capabilities which
service offerings include:
help in improving business visibility and allow business
Data Platform Engineering: Data Platform Engineering leaders to react quickly to evolving business needs.
services focuses on delivering accelerated platform Wipro BPS is harnessing the power of new and emerging
development catering to the areas of Internet Scale technologies to create breakthrough applications and
Application, Big Data Platforms, Next Generation solutions. Our key non-intrusive industry agnostic
Infrastructure platforms and High Performance technology differentiators:
Computing solutions. It builds complete solutions in
Enterprise Transformation: A suite of comprehensive
the areas of large scale service delivery systems, Big
solutions suites that delivers standardized service,
Data systems and real-time low latency engineered touching all engagements of a customer lifecycle
systems for IoT, trading, advertising and other industrial through simplification, automation, intelligence and
applications either via on premise or cloud based immersive experience, supported by a cross trained
platforms. It also delivers products such as the Big team of 100+ consultants, our proprietary solutions,
Data as a Service to drive non-linear revenues and platforms and alliance with leading solution providers
Hybrid Cloud Integrations and Engineering services for automation solutions.
with Digital Services Hub.
Base))): Wipros Business Operations platform
Big Data Analytics: The Big Data Analytics practice comes with business and operations analytics,
creates and delivers analytical platforms and solutions pre-built process libraries, business design and
which help organizations make forward looking process management components to manage
decisions in real-time or near-real time. To learn more todays business operations. To learn more access
access http://www.wipro.com/big-data/ http://www.wipro.com/business-process/platform/
base-platform/base-prism/
Information Management: The Information
Management practice is dedicated towards developing Next Gen Customer Experience (NGCE): NGCE collates
and enabling robust information strategies for structured and unstructured data to present a 360 view
enterprises with capabilities that cut across lifecycle of the customer and helps deliver a superior customer
and usage of data. To learn more access http://www. experience. It provides actionable recommendations
wipro.com/information-management/ in real-time to empower your customer service team
to deliver best-in-class customer experience on every
interaction.

32 Annual Report 2015-16

 Robotics Process Automation (RPA): RPA serves clients who are part of Fortune 100 insurance companies
the next-generation BPS which delivers beyond through our solutions accelerators, intellectual property,
labor arbitrage to improve processes and accuracy end-to-end consulting services, and flexible global-delivery
by eliminating human error and optimizing cost. models. We have partnered with leading investment banks
To learn more access http://www.wipro.com/business- and stock exchanges worldwide, providing state-of-the-
process/services/robotic-process-automation/ art technology solutions to address business priorities
including operational efficiency, cost optimization,
BPaaS: Wipro remains committed to deliver
revenue enhancement, and regulatory compliance.
best of technology led services to its customers.
Wipros Business-Process-as-a-Service (BPaaS)
To learn more, access http://www.wipro.com/banking ,
delivery model allows standardized, yet highly
http://www.wipro.com/insurance, http://www.wipro.com/
configurable processes for quick deployment and use.
securities-capital-markets
To learn more access http://www.wipro.com/bps/
Healthcare and Life Sciences (HLS): At HLS, it is our
INDUSTRY VERTICALS ambition to change the face of modern healthcare by
For the year ended March 31, 2016, the IT Services segment building a patient centric interconnected health ecosystem
primarily consists of IT Service offerings to our customers across payers, providers, e-health and government
organized by industry verticals as follows: funded programs, bio-pharmaceutical and medical
devices. Our integrated portfolio of solutions, platforms
1. Banking, Financial Services and Insurance (BFSI), and services in applications, infrastructure and business
2. Healthcare and Life Sciences (HLS), process outsourcing enables our clients to enhance
3. Retail, Consumer, Transport and Government (RCTG), engagement with their end customers the patients and
4. Energy, Natural Resources and Utilities (ENU), providers by reimagining and redesigning experiences
5. Manufacturing (MFG) and across channels of consumption in this digitized world.
6. Global Media and Telecom (GMT). We enable our clients to provide accessible, affordable,
accountable care through automation and smart IT;
Effective April 1, 2016, in order to provide strategic focus and and revitalize innovation for therapeutic areas through
draw synergistic advantages among our sales, marketing cognitive support and product engineering while
and business development teams, we realigned our industry staying compliant, reducing risk and maintaining quality.
verticals. The Communication Service Provider business unit To learn more, access http://www.wipro.com/healthcare ,
was regrouped from the former GMT industry vertical into a http://www.wipro.com/pharmaceutical-and-life-sciences
new industry vertical named Communications. The Media , http://www.wipro.com/medical-devices
business unit from the former GMT industry vertical has been Consumer Business Unit (CBU): Our Consumer Business
realigned with the former RCTG industry vertical which has Unit offers a full array of innovative solutions and services
been renamed as Consumer Business Unit industry vertical. to cater to the entire value chain, where the consumer is
Further, the Network Equipment Provider business unit of at the core, through unique blend of domain knowledge,
the former GMT industry vertical has been realigned with the technology expertise and delivery excellence. We provide
Manufacturing industry vertical to form the Manufacturing strong consumer-centric insight and project execution
and Technology industry vertical. The revised industry verticals skills across retail, consumer goods, media, travel and
are as follows: public sector. Wipros CBU encompasses the following
sectors:
1. Banking, Financial Services and Insurance (BFSI)
2. Healthcare and Life Sciences (HLS) Retail: Wipros Retail practice has deep expertise
3. Consumer Business Unit (CBU) in the areas of digital transformation, omni-
4. Energy, Natural Resources and Utilities (ENU) channel and supply chain, merchandizing, store
5. Manufacturing and Technology (MFG & Tech) operations, and consumer and retail insights.
6. Communications (Communications) To learn more access http://www.wipro.com/retail
Consumer Goods: Wipros Consumer Goods
Our IT Services business is organized into six industry verticals: business works with many of the Top Global
Banking, Financial Services and Insurance (BFSI): BFSI is brands across Apparel & Fashion, Food & Beverage,
our largest business unit in terms of revenue, and includes Home & Personal Care, Tobacco and Agribusiness.
clients in banking, insurance, and securities and capital To learn more access http://www.wipro.com/consumer-
market industries. Our banking practice has partnered with goods
many of the worlds leading banks. Our insurance practice Media, Entertainment, Publishing Industries: Wipros
has been instrumental in delivering success to our insurance Media Vertical is a global partner for a wide spectrum of

Wipro Limited 33
 customers ranging across segments namely, Publishing, Electronics and Peripherals, Computer Software and
Education & Information Services, New Media & OTT, Storage, Telecom, Network Equipment Providers, Process
Entertainment, Broadcast & Sports and Advertising. Manufacturing and Industrial and General Manufacturing.
To learn more access http://www.wipro.com/media
Our extensive domain expertise helps cater to customer
Travel and Hospitality: This Vertical is a transformation
requirements across product design, manufacturing,
partner to industry leaders across Airlines, Tour Operators,
customer experience and aftersales revenue. Our Centres
Courier, Logistics, Leisure and Hospitality segments. As
of Collaborative Excellence strive to collaborate with the
an innovative integrated services player, we help clients
customers to build industry specific solutions that suit
reimagine customer experiences and deliver them
the customers requirements. We have enabled creation
through a unique blend of design and technology.
of intelligent customer interfaces, enhanced and intuitive
To learn more access http://www.wipro.com/
man-to-machine interactions, better insights through
transportation
customer and industry analytics, innovation in intelligent
Public Sector: Wipro empowers Public Sector and connected devices and customer-facing autonomic
organizations across the Globe in their pursuit of services. Customers can maximize their revenue by
progress of their societies through effective use of leveraging our IoT and connected devices solutions on the
technology. To learn more access http://www.wipro. one hand and optimize their operational expenses by using
com/government our smart manufacturing solutions on the other hand.
To lear n more, access http://w w w.wipro.com/
Energy, Natural Resources and Utilities (ENU): Our
manufacturing
Energy, Natural Resources, Utilities and Engineering &
Construction (ENU) industry vertical has been collaborating Communications: For the past two decades, we have
with and serving businesses across the globe for over 15 offered end to end IT and Engineering services to the
years. Our deep domain and technology expertise has communications service providers. The emergence of new
helped the business become a trusted partner to over technologies such as 4G/LTE, cloud, social networking,
75 leaders in the Oil and Gas, Mining, Water, Natural Gas, and smart phones has changed the way we share and
Electricity, Engineering and Construction industries spread consume information. In order to win in this digital world,
across North and South America, Europe, Africa, Australia, Communication Service Providers (CSPs) have shifted
India, Middle East, New Zealand, Southeast Asia and Turkey. their focus from technology infrastructure to value added
To learn more access http://www.wipro.com/energy services and the delivery of a superior customer experience.
We assist clients in dealing with the business changes
Recognized by analysts as a major player in Utilities
arising from disruptions caused by new technologies, new
sector, we provide consulting, engineering, technology
enterprise and consumer services and shifting regulations.
and business processes services expertise to the Utilities
To lear n more, access http://w w w.wipro.com/
industry across Generation and Renewables, Transmission
communication-service-providers
and Distribution, Retail, Smart Grid, Energy Trading
and Risk Management (ETRM) and Health, Safety, IT PRODUCTS
Security and Environment (HSSE). Wipro is a strategic
partner for many of the worlds major oil and gas In order to offer comprehensive IT system integration solutions,
O&G companies. Strategic acquisitions have further we use a combination of hardware products (including servers,
strengthened our capabilities and presence in the Energy computing, storage, networking, security), related software
sector. Our industry-leading Operational Technology products (including databases and operating systems)
and Information Technology Mining solutions focus on and integration services. During FY 2013-14, we ceased
capital projects, unlocking the value of exploration data, manufacturing Wipro branded desktops, laptops and servers.
building collaborative decision environments, addressing We continue to maintain a presence in the hardware market by
health, safety, security and environment issues, and providing suitable third-party brands as a part of our solutions
transforming businesses with enterprise solutions. Our in large integrated deals. Our range of third-party IT Products
is comprised of Enterprise Platforms, Networking Solutions,
Engineering and Construction business has a major
Software Products, Data Storage, Contact Center Infrastructure,
presence across sectors such as oil and gas, Mining,
Enterprise Security, IT Optimization Technologies, Video
Utilities, Airports, Ports, Transportation and Manufacturing.
Solutions and End-User Computing solutions.
To learn more access http://www.wipro.com/utilities
Manufacturing and Technology (MFG & Tech): Wipro is a We provide our offerings to enterprises in all major
strategic partner offering a portfolio of solutions and services industries, primarily in the India and Middle East markets,
that caters to the entire technology and manufacturing including government, defense, IT and IT-enabled services,
value chain of the customer. We cater to various domains telecommunications, manufacturing, utilities, education and
like Aerospace and Defense, Automotive, Consumer financial services sectors. We have a diverse range of customers,

34 Annual Report 2015-16

none of whom individually account for more than 10% of our
overall IT Products segment revenues. KEY DIMENSIONS OF WIPROS CORPORATE
We are valued-added resellers of third-party enterprise
products through our direct sales force. Our sales teams are
GOVERNANCE
organized by industry vertical. Our global customer partners Independence
receive support from our corporate marketing team to assist in
Majority of the Board comprised of Independent
brand building and other corporate level marketing efforts for Directors (7 out of 11 Directors as of March 31, 2016)
various market segments.
Audit, Risk and Compliance Committee, Board
Governance, Nomination & Compensation Committee
GOOD GOVERNANCE & MANAGEMENT comprise of entirely Independent Directors
PRACTICES Accountability
At Wipro, Corporate Governance is more than just adherence Corporate Internal Audit Function Directly Reports to
to the Statutory & Regulatory requirements. It is equally about the Audit Committee
focusing on voluntary practices that underlie the highest levels Ombudsperson reporting to Audit Committee
of transparency & propriety. Among First Indian Companies to adopt Sarbanes
Oxley Acts Certification Process in India
Our Corporate Governance philosophy is put into practice at
Transparency
Wipro through the following four functional layers, namely,
Timely, adequate & equivalent access to information
to all stakeholders
1 Governance by Shareholders
Disclosure when Exchanges are closed (both in India
2 Governance by Board of Directors and the US)- during non-trading hours
Audit/Risk and Compliance Announcement of quarterly audited financial results
Committee within 15 minutes of approval by the Board of Directors
Board Governance, Nomination Early adoption of standards (e.g. AS30/ Hedge
and Compensation Accounting)
Committee with the additional Early adoption of IFRS
3 Governance by Sub- responsibility of CSR
Committee of Board Filing with SEC in line with US registrants
Strategy Committee
of Directors Quarterly audited accounts with no qualifications
Administrative, Shareholders
and Investors Grievance Quarterly & annual results sent by email to shareholders
Committee (Stakeholders
Relationship Committee)
Governance by Risk Management
4 Management Code of Conduct Risk Management
Process
Compliance Framework Risk Management at Wipro is an enterprise wide function backed
The Ombudsprocess by a qualified team of specialists with deep industry experience
who develop frameworks and methodologies for assessing and
Wipro has a corporation wide Code of Business Conduct mitigating risks.
(COBC) that provides the broad direction as well as specific
Risk Management Framework
guidelines for all business transactions. The COBC is the
central document on which the Companys ethics compliance The risk landscape in the current business environment is
message is disseminated to all employees. Details are covered changing dynamically with the dimensions of Cyber security,
Information Security & Business Continuity, Data Privacy and
in the Corporate Governance report. In 2015-16, Wipro was
Large Deal Execution figuring prominently in the risk charts of
awarded The ICSI National Award for excellence in Corporate most organizations. To effectively mitigate these risks, we have
Governance for 2015 by the Institute of Company Secretaries deployed a risk management framework which helps proactively
of India (ICSI). The underlying guideline for the Corporate identify, prioritize and mitigate risks. The framework is based on
Governance Award is to identify the corporates, that lead in principles laid out in the four globally recognized standards.
best governance practices.

Wipro Limited 35
Risk Management Framework Standards referenced for Risk
Management Framework

Governance Audit Committee of a. Orange Book by UK

Oversight the Board
Government Treasury

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Identification Analysis Evaluate Treatment Monitoring
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Risk Categories ISO
Governance Strategic Operational Compliance Reporting

Major Risks and Mitigation Initiatives

Major Risks Mitigation Plan
Information Security & Cyber Security breaches Strong counter measures implemented and programs to continuously monitor the
that could result in systemic failures, loss, effectiveness of the controls have been implemented. Focus on sustaining controls and
disclosure of confidential information. continuous improvement of solutions.
Intellectual Property violating or misusing Elaborate program has been rolled out in the past years to assess and mitigate the risks
our clients intellectual property rights or for on account of intellectual property, both customer and Wipro-owned. The program assists
breaches of third-party intellectual property in identification, monitoring and creating awareness across the teams. The program has
rights or confidential information in connection also been enhanced to address risks arising out of access provided to social media &
with services to our clients. collaboration platforms.
Data Privacy regulations relating to personal Data Privacy programs have been augmented by the creation of a dedicated Data Privacy
and health information dealt with both by and team with specific emphasis to revalidate all existing frameworks, policies and processes
on behalf of Wipro increases the risk of non- that can be leveraged across by the respective teams, covering all applicable geographies
compliance. and areas of operations.
Regulatory Compliances covering various A program on statutory compliance is in place with the objective to track all applicable
federal, state, local and foreign laws relating to regulations, obligation arising out the same and corresponding actions items that
various aspects of the business operations are requires to be adhered to ensure compliance along with necessary workflows enabled.
complex and non-compliances can result in The program is monitored and regularly reviewed to ensure compliances are in place.
substantial fines, sanctions etc. Additional programs exist to cover specific regulations relating to immigration, anti-
bribery etc.
Service Delivery risks relating to complex Risk Management framework has been deployed for large value deals to assess solution
programs providing end-to-end business fitness, credit risks, financial risks, technology risks among other risk factors. Additionally
solutions for our clients. contract compliance programs are in place with regular reviews, early warning systems as
well as customer satisfaction surveys to assess the effectiveness of the service delivery and
preempt any risks arising from the service delivery.
Functional & Operational risks arising out of Appropriate risk and control matrix have been designed for all critical business processes
various operational processes and both design and effectiveness is tested under the SOX & Internal Financial Control
Programs.
Business Continuity risks arising out of systems A separate function to address Business Continuity Planning has been formed and an
failure, natural disasters etc. enhanced Business Continuity Management System (BCMS) framework aligned to ISO
22301 (latest global industry standard) has been launched. With this rollout, the accounts,
service functions and locations will have a comprehensive and integrated view of the
BCMS requirements and be able to plan, coordinate and execute the strategies effectively.

36 Annual Report 2015-16

 CHENNAI DELUGE
With Chennai witnessing its heaviest rainfall in 100 years, the city was completely inundated bringing life to a standstill for a
couple of weeks in the month of December 2015. While residents were struggling to stay dry and obtain essential supplies,
businesses were also severely impacted. Our campuses (Sholinganallur, Guindy & Mahindra World city) were impacted.
Owing to priority on people safety, evacuation was first initiated and facilities were shut-down and Business Continuity Plans
were invoked for all critical customer services that were supported from Chennai.

Our teams across business units and functions worked in a well co-ordinated manner, demonstrating sense of exigency.
Many employees and contractors stretched beyond the call of duty and ensured that the continuity plans were well executed.
Customers also understood the situation and reciprocated appropriately.

Multiple business continuity arrangements like working environment for employees working on critical projects, special
boarding arrangements for over a thousand employees in our campuses, travel arrangement for thousands of employees to
our facilities in other cities etc were made to ensure continuity of support to critical applications/processes. Regular updates
to customers and employees helped obtain cooperation and support.

We express our gratitude to all involved for their dedication & perseverance. It is a success story for us as employees,
contractors, vendors, partners and customers went beyond their call of duty to make Wipro a more safe and secure place.

While our teams have done a good job in recovering from Chennai deluge, we have taken several proactive steps as an
organization to prepare ourselves for similar crisis in future across locations. A separate function to address Business Continuity
Planning has been formed and an enhanced Business Continuity Management System (BCMS) framework aligned to ISO
22301 (latest global industry standard) has been launched. With this rollout, the accounts, service functions and locations
will have a comprehensive and integrated view of the BCM requirements and be able to plan, coordinate and execute the
strategies effectively.

Wipro Cares, the community initiatives arm of Wipro, supported the victims of Chennai floods in December 2015 by
collaborating with NGOs experienced in disaster relief operations and worked with the local government to help affected
communities with particular focus on disadvantaged groups and those living near Wipro campuses.

The Ombudsprocess
Wipro is committed to the highest standards of openness, were no cases of child labor reported. We have a policy and
probity and accountability. Having a robust whistleblower framework for employees to report sexual harassment cases
policy that employees and other stakeholders can use without at workplace and our process ensures complete anonymity
fear or apprehension is a sine non qua for a transparent and and confidentiality of information. Adequate workshops
ethical company. An important aspect of accountability and and awareness programme against sexual harassment are
transparency is a robust mechanism that allows partners, conducted across the organization. A total of 111 complaints
customers, suppliers and other members of the public, to of sexual harassment were raised in the year 2015, of which 107
voice concerns in a responsible and effective manner. What cases were disposed and appropriate actions were taken in all
this means in concrete terms is that whenever a stakeholder cases within the statutory timelines.
discovers information that reveals serious malpractice,
impropriety, abuse or wrongdoing within the organization
then the stakeholder should be able to report without fear of
reprisal, anyone can report a concern to the ombudsperson
online at www.wiproombuds.com

In 2015-16, 1,397 complaints were received via the

Ombudsprocess and the action taken cases as of March 31,
2016 was 1,337. Based on self-disclosure data, 68% of these
were from employees and the balance were mainly anonymous
and from other stakeholders like vendors and customers.
The top categories of complaints were people processes
(38%) and workplace concerns and harassment (21%). There

Wipro Limited 37
CAPITALS AND VALUE CREATION

We now introduce, in brief, a short explanation of the capitals, followed by Wipros approach to value creation
across these capitals.
Financial capital is broadly understood as the pool of funds available to an organization. Financial capital also
serves as a medium of exchange that can obtain value through conversion into other forms of capital.
Intellectual capital is broadly organizational, knowledge-based intangibles, including intellectual property, such
as patents, copyrights, software, rights and licences and organizational capital such as tacit knowledge, systems,
procedures and protocols
Human capital is broadly peoples competencies, capabilities and experience, and their motivations to innovate
and support the organizations shared goals and values.
Social and relationship capital is broadly the institutions and the relationships within and between communities,
groups of stakeholders and other networks, and the ability to share information to enhance individual and collective
well-being such as customers, investors and suppliers.
Natural capital is broadly all renewable and nonrenewable environmental resources and processes that provide
goods or services that support the past, current or future prosperity of an organization. It includes air, water, land,
minerals, forests, biodiversity and eco-system health.
Manufactured capital is broadly seen as human-created, production-oriented equipment and tools. For the IT
services business, these are the fixed assets like buildings, IT hardware and telecommunication equipment. The
deployment of the capital is adequately represented in financial capital and through impacts to natural capital.
Hence this report does not cover manufactured capital separately.

VALUE CREATED
KEY PERFORMANCE INDICATORS
SOCIAL & FINANCIAL INTELLECTUAL NATURAL
HUMAN CAPITAL RELATIONSHIP CAPITAL CAPITAL CAPITAL CAPITAL

Talent Engagement and Revenue generated from Revenue growth indicator R&D investment Environmental spend
Development existing customers
Profitability indicator New start-up investment Energy and emissions
Diversity & Inclusion Customer Net Promoter performance
Score Dividend and Payout No. of patents granted
metrics indicator Waste management
Education and
Employee Well-being Community partnerships Cash generation indicator Water efficiency and
and investments recycling
Advocacy and Thought
Supplier Diversity and Biodiversity coverage
Local spend Environmental
Management Systems
FINANCIAL CAPITAL*
significantly. Reduction in spending on IT services may
Assessment of Key Risks lower the demand for our services and negatively affect
Global economic crisis: We derive approximately 53% our revenues and profitability. Our clients are concentrated
of our IT Services revenue from the Americas (including in certain key industries. Any significant decrease in the
the United States) and 25% of our IT Services revenue growth of any one of these industries, or widespread
from Europe. If the economy in the Americas or Europe changes in any such industry, may reduce or alter the
continues to be volatile or conditions in the global financial demand for our services and adversely affect our revenue
market deteriorate, pricing for our services may become and profitability. For instance, the continued softness
less attractive and our clients located in these geographies in global crude oil price has significantly impacted the
may reduce or postpone their technology spending companies operating in the energy industry, impacting
*Financial data referred in this section in INR refers to data from the Consolidated Financial Statements under IFRS.
38 Annual Report 2015-16
 revenue and profitability of our Energy, Natural Resources exposed to foreign exchange risk through receiving payment
and Utilities industry vertical. for sales and services in the United States and elsewhere, and
making purchases from overseas suppliers in various foreign
Taxation Risks: Our profits for the period earned from
currencies. The exchange rate risk primarily arises from foreign
providing services at client premises outside India are
exchange revenue, receivables, cash balances, forecasted cash
subject to tax in the country where we perform the work.
flows, payables and foreign currency loans and borrowings.
Most of our taxes paid in countries other than India can
be applied as a credit against our Indian tax liability to the
As of March 31, 2016, a Re. 1 increase/decrease in the spot
extent that the same income is subject to taxation in India.
exchange rate of the Indian Rupee with the U.S. Dollar would
Currently, we benefit from certain tax incentives under
result in approximately Rs 1,398 million decrease/increase
Indian tax laws. These tax incentives include a tax holiday
in the fair value of our foreign currency dollar denominated
from payment of Indian corporate income taxes for our
derivative instruments.
businesses operating from specially designated Special
Economic Zones (SEZs). Changes to these incentives and
Interest rate risk: Interest rate risk primarily arises from
other exemptions we receive due to government policies
floating rate borrowing, including various revolving and other
can impact our financial performance.
lines of credit. Our investments are primarily in short-term
Wage Pressure: Our wage costs in emerging markets have investments, which do not expose us to significant interest rate
historically been significantly lower than wage costs in the risk. To manage our net exposure to interest rate risk relating to
developed markets for comparably skilled professionals, borrowings, we may enter into interest rate swap agreements,
and this has been one of our competitive advantages. which allows us to exchange periodic payments based on a
However, wage increases in emerging markets may prevent notional amount and agreed upon fixed and floating interest
us from sustaining this competitive advantage and may rates. As of March 31, 2016, substantially all of our borrowings
negatively affect our profit margins. We may need to was subject to floating interest rates, which reset at short
increase the levels of our employee compensation more intervals. If interest rates were to increase by 100 bps from
rapidly than in the past to retain talent. Unless we are able March 31, 2016, additional net annual interest expense on our
to continue to increase the efficiency and productivity of floating rate borrowing would amount to approximately Rs.
our employees over the long term, wage increases may 1,102 million.
reduce our profit margins.
Credit risk: Credit risk arises from the possibility that customers
General Market Risk: Market risk is the risk of loss of future
may not be able to settle their obligations as agreed. To manage
earnings, to fair values or to future cash flows that may
this, we periodically assess the financial reliability of customers,
result from a change in the price of a financial instrument.
taking into account the financial condition, current economic
The value of a financial instrument may change as a result
trends, analysis of historical bad debts and ageing of accounts
of changes in the interest rates, foreign currency exchange
receivable. Individual risk limits are set accordingly. No single
rates and other market changes that affect market risk
customer accounted for more than 10% of the accounts
sensitive instruments. Market risk is attributable to all
receivable as of March 31, 2015 and 2016, respectively and
market risk sensitive financial instruments including
revenues for the year ended March 31, 2014, 2015 and 2016,
investments, foreign currency receivables, payables and
respectively. There is no significant concentration of credit risk.
loans and borrowings.
Our exposure to market risk is a function of investment and Counterparty risk: Counterparty risk encompasses issuer risk
borrowing activities and revenue generating activities in on marketable securities, settlement risk on derivative and
foreign currency. The objective of market risk management money market contracts and credit risk on cash and time
is to avoid excessive exposure of our earnings and equity to deposits. Issuer risk is minimized by only buying securities in
losses. India which are at least AA rated by Indian rating agencies.
Settlement and credit risk is reduced by the policy of entering
Components of Market Risk into transactions with counterparties that are usually banks
or financial institutions with acceptable credit ratings.
Foreign currency risk: A significant portion of our revenue is in Exposure to these risks are closely monitored and maintained
U.S. Dollars, United Kingdom Pound Sterling, Euros, Australian within predetermined parameters. There are limits on credit
Dollars and Canadian Dollars while a large portion of our costs exposure to any financial institution. The limits are regularly
are in Indian Rupees. The exchange rates between the rupee assessed and determined based upon credit analysis including
and these currencies have fluctuated significantly in recent financial statements and capital adequacy ratio reviews. The
years and may continue to fluctuate in the future. Appreciation counterparties are primarily banks and financial institutions
of the Indian Rupee against these currencies can adversely and the Company considers the risk of non-performance by
affect our results of operations. Consequently, the Company is the counterparty as non-material.

Wipro Limited 39
Liquidity risk: Liquidity risk is defined as the risk that we will Our Hedge Book as on March 31, 2016 stood at USD 2.8 billion
not be able to settle or meet our obligations on time or at a dollars. Our foreign exchange gains/(losses), net, comprise of:
reasonable price. Management monitors the Companys net 1. Exchange differences arising from the translation or
liquidity position through rolling forecasts on the basis of settlement of transactions in foreign currency, except for
expected cash flows. As of March 31, 2016, our cash and cash exchange differences on debt denominated in foreign
equivalents are held with major banks and financial institutions. currency (which are reported within finance expense, net); and
2. The changes in fair value for derivatives not designated as
Risk Management Procedures hedging derivatives and ineffective portions of the hedging
instruments. For forward foreign exchange contracts which
We manage market risk through a corporate treasury are designated and effective as cash flow hedges, the mark
department, which evaluates and exercises independent to market gains and losses are deferred and reported as a
control over the entire process of market risk management. component of other comprehensive income in stockholders
Our corporate treasury department recommends risk equity and subsequently recorded in the income statement
management objectives and policies, which are approved when the hedged transactions occur, along with the hedged
by senior management and Audit Committee. The activities items.
of this department include management of cash resources,
implementing hedging strategies for foreign currency Please refer note 15 in Consolidated Financial Statements
exposures, borrowing strategies, and ensuring compliance under IFRS for further details.
with market risk limits and policies.
Internal control systems and their adequacy
Foreign Exchange Risk Management Policy We have presence across multiple countries, and a large
and Results number of employees, suppliers and other partners collaborate
We evaluate our foreign exchange rate exposure arising from to provide solutions to our customer needs. Robust internal
these transactions and enter into foreign currency derivative controls and scalable processes are imperative to manage this
instruments to mitigate such exposure. global scale of operations.

We have a consistent hedging policy, designed to minimize The Management has laid down internal financial controls to
the impact of volatility in foreign exchange fluctuations on the be followed by the Company. We have adopted policies and
earnings and assets & liabilities. We evaluate exchange rate procedures for ensuring the orderly and efficient conduct of
exposure arising from transactions and positions and enter the business, including adherence to the Companys policies,
the safeguarding of its assets, the prevention and detection
into foreign currency derivative instruments to mitigate such
of frauds and errors, the accuracy and completeness of the
exposure. We follow established risk management policies,
accounting records, and the timely preparation of reliable
including the use of derivatives like foreign exchange forward /
financial disclosures.
option contracts to hedge forecasted cash flows denominated
in foreign currency. As per the policy, the total hedges shall be
50% to 100% of the next four quarters of inflows in addition to
select long term contracts which are beyond one year in tenor.
Our net foreign exchange gains/ (losses) from continuing
operations for the years ended March 31, 2015 and 2016 were
Rs. 3,637 million and Rs. 3,867 million respectively.

We have designated certain derivative instruments as cash

flow hedges to mitigate the foreign exchange exposure of
forecasted highly probable cash flows. We have also designated
foreign currency borrowings as hedges against respective net
investments in foreign operations.

40 Annual Report 2015-16

Consolidated Results for the year 2015-16
Wipro Limited and Subsidiaries Year Ended March 31,
(Rupees in millions except otherwise stated) 2016 2015 Year on Year Change
Revenues 516,307 473,182 9.1%
Cost of revenues (356,724) (321,284) 11.0%
Gross profit 159,583 151,898 5.1%
Selling and marketing expenses (34,097) (30,625) 11.3%
General and administrative expenses (28,465) (25,850) 10.1%
Operating Income 97,021 95,423 1.7%
Profit attributable to equity holders 88,922 86,528 2.8%
As a Percentage of Revenue:
Gross Margin 30.9% 32.1% -119bps
Selling and marketing expenses -6.6% -6.5% -13bps
General and administrative expenses -5.5% -5.5% -5bps
Operating Margin 18.8% 20.2% -138bps
Earnings per share
Basic (`) 36.20 35.25 2.7%
Diluted (`) 36.12 35.13 2.8%
(1) For the purpose of segment reporting, we have included the impact of exchange rate fluctuations in revenue. Excluding the impact of exchange rate fluctuations,
revenue, as reported in our statements of income, is Rs. 469,545 million and Rs. 512,440 million for the years ended March 31, 2015 and 2016, respectively.
Please see Note 29 of the Consolidated Financial Statements under IFRS for additional details.

Revenue: In FY 2015-16 our revenue increased by 9.1%. This increase in headcount during the year, advertisement and
was driven primarily by a 10.7% increase in revenue from our IT brand building expenses, depreciation and amortization and
Services segment and was offset partially by a 12.6% decrease travel expenses arising from intangible assets recognized
in revenue from our IT Products segment. The increase in through business combinations.
IT Services revenues was driven by volume growth in our
Healthcare and Life Sciences industry vertical, Retail, Consumer General and Administrative Expenses: Our general and
Goods & Transportation industry vertical and Manufacturing & administrative expenses as a percentage of revenue increased
Hitech industry vertical as well as depreciation of the Indian marginally from 5.46% for the year ended March 31, 2015 to
rupee against the U.S. dollar. 5.51% for the year ended March 31, 2016. In absolute terms,
general and administrative expenses increased by 10.1%,
Profitability: In absolute terms, cost of revenues increased primarily due to increases in employee compensation,
by 11% primarily on account of increases in employee provision for doubtful debts, facility expenses and legal and
compensation due to impact of rupee depreciation, salary professional fees.
increases, stock compensation awarded, increase in headcount
during the year (including increase through business Results from Operations: As a result of the foregoing factors,
combinations), and increase in subcontracting/technical fees, our operating income increased by 1.7%, from Rs 95,423
which was partially offset by reduction in cost of hardware and million for the year ended March 31, 2015 to Rs 97,021 million
software. for the year ended March 31, 2016. However, our results from
operating activities as a percentage of revenue (operating
As a result of the foregoing factors, our gross profit as margin) decreased by 138 bps from 20.2% to 18.8%.
percentage of our total revenue decreased by 119 basis points
(bps). Finance Expenses: Our finance expenses increased from Rs
Selling and Marketing Expenses: Our selling and marketing 3,599 million for the year ended March 31, 2015 to Rs 5,582
expenses as a percentage of total revenue increased marginally million for the year ended March 31, 2016. This increase is
from 6.5% for the year ended March 31, 2015 to 6.6% for the primarily due to an increase of Rs 1,341 million in exchange
year ended March 31, 2016. In absolute terms, selling and loss on foreign currency borrowings and related derivative
marketing expenses increased by 11.3%, primarily on account instruments as well as an increase in interest expense by Rs 642
of increases in employee compensation due to impact of rupee million on account of increased borrowings during the year
depreciation, salary increases, stock compensation awarded, ended March 31, 2016.

Wipro Limited 41
Finance and Other Income: Our finance and other income increased marginally from 22.0% for the year ended March 31,
increased from Rs 19,859 million for the year ended March 31, 2015 to 22.1% for the year ended March 31, 2016.
2015 to Rs 23,280 million for the year ended March 31, 2016.
Interest and dividend income increased by Rs 4,723 million Profit: Profit attributable to non-controlling interest has
while gain on sale of investments decreased by Rs 1,302 million reduced from Rs 531 million for the year ended March 31, 2015
during the year ended March 31, 2016 as compared to the year to Rs 492 million for the year ended March 31, 2016.
ended March 31, 2015. This net increase was due to an increase
in cash available for investments due to enhanced cash flows. As a result of the foregoing factors, our profit attributable to
equity holders increased by Rs 2,394 million or 2.8%, from Rs
Taxes: Our income taxes increased by Rs 681 million from Rs 86,528 million for the year ended March 31, 2015 to Rs 88,922
24,624 million for the year ended March 31, 2015 to Rs 25,305 million for the year ended March 31, 2016.
million for the year ended March 31, 2016. Our effective tax rate

Performance Highlights IT Services

Year Ended March 31,
(Rupees in millions except otherwise stated) 2016 2015 Year on Year Change
Revenue 487,316 440,180 10.7%
Gross Profit 158,287 150,124 5.4%
Selling and Marketing expenses (31,426) (28,060) 12.0%
General and administrative expenses (27,144) (24,998) 8.6%
Operating Income 99,716 97,649 2.1%
As a percentage of revenue:
Gross Margin 32.5% 34.1% (163)bps
Selling and Marketing expenses (6.4)% (6.4)% (8)bps
General and administrative expenses (5.6)% (5.7)% 11bps
Operating Margin 20.5% 22.2% (172)bps
(1)For the purpose of segment reporting, we have included the impact of exchange rate fluctuations in revenue. Excluding the impact of exchange rate fluctuations,
revenue, as reported in our statements of income, is Rs. 436,646 million and Rs. 483,522 million for the years ended March 31, 2015 and 2016, respectively.
Please see Note 29 of the Consolidated Financial Statements under IFRS for additional details.

Customer Size Number of clients in Year ended growth was 7.6%. In our IT Services segment, we added 261
Distribution (USD) March 31, new customers during the year ended March 31, 2016 across
all industry verticals including customers added on account
2016 2015 2014
of acquisitions. Revenue from Product Engineering, Global
> $1M 550 542 501 Infrastructure Services, Business Process Services and Analytics
> $3M 331 311 278 grew strongly during the year. Amongst geographic segments,
India and Middle East business and Americas regions showed
> $5M 248 231 220
strong growth.
> $10M 160 150 143
> $20M 89 86 82 During the year, we saw significant softness in the Oil & Gas
> $50M 33 31 29 business due to the impact of low oil prices, which affected our
> $75M 18 15 14 revenue growth in US dollar. However, in absolute terms in INR,
we experienced growth across all IT Services industry verticals.
> $100M 9 11 10
Profitability: Our gross profit as a percentage of our revenue
Revenue - IT Services: In FY 2015-16 our revenue from our
from our IT Services segment decreased by 163 bps. The
IT Services segment, in INR terms, increased by 10.71%. In
decrease in gross margin as a percentage of revenue is primarily
absolute terms in INR, we experienced growth across most
attributable to an increase in employee compensation cost
IT Services industry verticals, particularly in Healthcare and
during the year ended March 31, 2016 as compared to year
Life Sciences industry vertical, Retail, Consumer Goods &
ended March 31, 2015 as part of our annual compensation
Transportation industry vertical and Manufacturing & Hitech
review and annual progression cycle, partially offset by the
industry vertical. In terms of USD revenues, the growth was
depreciation in the value of the Indian rupee against foreign
3.7%. In terms of USD, expressed in constant currency, the
currency.

42 Annual Report 2015-16

Selling and Marketing Expenses: Selling and marketing Performance Highlights IT Products
expenses as a percentage of revenue from our IT Services
segment increased from 6.37% for the year ended March Year Ended March 31,
31, 2015 to 6.45 % for the year ended March 31, 2016. In (Rupees in millions) 2016 2015 YoY change
absolute terms, selling and marketing expenses increased
Revenue 29,722 34,006 -12.6%
Rs 3,366 million. This increase is primarily attributable to an
increase in the employee compensation cost due to increased Gross Profit 2,116 2,773 -23.7%
compensation as part of our annual compensation review Selling and Marketing (1,275) (1,280) -0.4%
and annual progression cycle and investments in manpower expenses
capacity and amortization of intangibles acquired through General and (1,704) (1,119) 52.3%
business combinations. administrative expenses
Operating Income (864) 374 -331.0%
General and Administrative Expenses: General and
administrative expenses as a percentage of revenue from As a % of revenue:
our IT Services segment decreased from 5.68% for the year Gross Margin 7.1% 8.2% -103bps
ended March 31, 2015 to 5.57% for the year ended March 31, Selling and Marketing -4.3% -3.8% -53bps
2016. In absolute terms, general and administrative expenses expenses
increased Rs 2,146 million. This increase is primarily due to an
General and -5.7% -3.3% -244bps
increase in the employee compensation cost due to increased
administrative expenses
compensation as part of our annual compensation review and
annual progression cycle. Operating Margin -2.9% 1.1% -400bps

(1) For the purpose of segment reporting, we have included the impact of
Segment Results: As a result of the above, segment results exchange rate fluctuations in revenue. Excluding the impact of exchange rate
as a percentage of our revenue from our IT Services segment fluctuations, revenue, as reported in our statements of income, is Rs. 33,928
decreased by 172 bps. However, in absolute terms, the segment million and Rs. 29,642 million for the years ended March 31, 2015 and 2016,
respectively. Please see Note 29 of the Consolidated Financial Statements under
results of our IT Services segment increased by 2.12%. IFRS for additional details.

Performance against Guidance: Historically, we have Revenue: Our revenue from the IT Products segment decreased
followed a practice of providing revenue guidance for our by 12.60%. The decline was primarily due to our focus on being
largest business segment, namely, IT Services. The guidance a system integrator of choice where we provide IT products
as a complement to our IT services offerings rather than sell
is provided at the release of every quarterly earnings when
standalone IT products.
revenue outlook for the succeeding quarter is shared.
Profitability: Our gross profit as a percentage of our IT Products
The following table presents the performance of IT Services segment revenue decreased by 103 bps primarily on account
Revenue against outlook previously communicated for the of product pricing pressure and the depreciation of Indian
four quarters of 2015-16. rupee resulting in higher product costs.

Selling and Marketing Expenses: Selling and marketing

Guided Outlook versus Actuals expenses as a percentage of revenue from our IT Products
Amounts in USD Million segment increased from 3.76% for the year ended March 31,
Quarter Guidance Achievement in Reported 2015 to 4.29% for the year ended March 31, 2016. In absolute
terms, selling and marketing expenses decreased by Rs 5
guided currency currency
million.
revenue
Mar-16* 1,875-1,912 1,887.6 1,882.0 General and Administrative Expenses: General and
Dec-15 *
1,841-1,878 1,858.1 1,838.3 administrative expenses as a percentage of revenue from our
IT Products segment increased from 3.29% for the year ended
Sep-15* 1,821-1,857 1,850.1 1,831.9 March 31, 2015 to 5.73% for the year ended March 31, 2016. In
Jun-15* 1,765-1,793 1,778.2 1,794.1 absolute terms, general and administrative expenses increased
*As per currency rates assumed in respective guidance announcements by Rs 585 million primarily on account of increases in the
provision for doubtful debts in our India business.

Wipro Limited 43
Segment Results: As a result of the above, in absolute terms, segment results of our IT Products segment recorded a loss of Rs. 864
million for the year ended March 31, 2016 as compared to a profit of Rs 374 million for the year ended March 31, 2015.

Business Unit Wise Performance

(Figures in $ millions except otherwise stated)
Business unit 2015-16 2015-16 Growth 2015-16 Growth Margins 2015-16 Margins 2014-15
YoY% in reported YoY% in constant
currency currency
BFSI 1,930 3.9% 7.4% 22.0% 23.7%
MFG & Hi-tech 1,369 6.0% 9.2% 19.5% 21.3%
RCTG 1,122 12.1% 15.7% 18.7% 21.2%
ENU 1,069 -6.8% -1.3% 20.3% 24.7%
GMT 975 -0.7% 4.9% 19.0% 22.2%
HLS 881 9.6% 11.6% 20.8% 21.2%
Total 7,346 3.7% 7.6% 20.5% 22.2%
IT Services segment in FY 2015-16 consists of Banking, Financial Services and Insurance (BFSI), Healthcare and Life Sciences (HLS), Retail, Consumer, Transport and
Government (RCTG), Energy, Natural Resources and Utilities (ENU),Manufacturing (MFG), and Global Media and Telecom (GMT)

Geography Wise Performance

(Figures in $ millions except otherwise stated)
Geo 2015-16 2014-15 2015-16 Growth YoY% 2015-16 Growth YoY%
in reported currency in constant currency
Americas 3,873 3,610 7.3% 8.5%
Europe 1,857 1,971 -5.8% 0.0%
APAC and OEM* 823 817 0.7% 11.0%
India and Middle East 793 684 16.0% 20.7%
Total 7,346 7,082 3.7% 7.6%
*Asia-Pacific and Other Emerging Markets

Resource Allocation Strategy The Companys cash flow from its operating, investing and
financing activities, as reflected in the Consolidated Statement
Cash generated from operations is our primary source of of Cash Flows, is summarized in the table below:
liquidity. We believe that our cash and cash equivalents along
with cash generated from operations will be sufficient to
meet our working capital requirements as well as repayment (INR Million) Year ended March 31, YOY
obligations with respect to debt and borrowings. Our choices changes
of sources of funding will be driven with the objective of Net cash provided by/ 2016 2015
maintaining an optimal capital structure. (used in) :
Operating activities 78,873 78,262 611
We maintain a debt/borrowing level that we have established
Investing activities (138,156) (25,816) (112,340)
through consideration of a number of factors including cash
flow expectations, cash required for operations and investment Financing activities (1,587) (8,523) 6,936
plans. We continually monitor our funding requirements, and Net change in cash (60,870) 43,923 (104,793)
strategies are executed to maintain sufficient flexibility to and cash equivalents
access global funding sources, as needed. Please refer to Note Effect of exchange rate 549 589 (40)
12 of our Notes to the Consolidated Financial Statements for changes on cash and
additional details on our borrowings. cash equivalent

44 Annual Report 2015-16

As of March 31, 2016, we had cash and cash equivalent and consideration is payable upon achievement of specified
short-term investments of Rs 301,432 million. Cash and cash revenue and earnings targets in the future. We expect that
equivalent and short-term investments, net of debt, was Rs our cash and cash equivalents, investments in liquid and
176,211 million. As of March 31, 2014, 2015 and 2016, our cash short-term mutual funds and the cash flows expected to be
and cash equivalents were primarily held in Indian Rupees, generated from our operations in the future will generally be
U.S. Dollars, United Kingdom Pound Sterling, Euros, Australian sufficient to fund the earn-out payments.
Dollars and Canadian Dollars. Please refer to Financial risk
management under Note 15 of our Notes to the Consolidated Cash used in Financing Activities: Cash used in financing
Financial Statements for more details on our treasury activities. activities for the year ended March 31, 2016 was Rs 1,587 million
as against Rs 8,523 million for the year ended March 31, 2015.
In addition, we have unused credit lines of Rs 34,498 million. This is primarily due to an increase in net proceeds of loans and
To utilize these lines of credit, we require the consent of the borrowings amounting to Rs 14,370 million. Our borrowings
lender and compliance with certain financial covenants. We have increased primarily on account of bridge loans to finance
have historically financed our working capital and capital our acquisitions of Cellent and HPS. This increase is partly
expenditures through our operating cash flows and through offset by increase in payment of dividend amounting to Rs
bank debt, as required. 6,004 million. Dividends paid in the year ended March 31, 2016
represents final dividend declared for the year ended March 31,
In the normal course of business, we transfer accounts 2015 amounting to Rs 7 per share and interim dividend for the
receivables and net investment in finance lease (financial year March 31, 2016 amounting to Rs 5 per share.
assets) to banks. The incremental impact of such transactions
on our cash flow and liquidity for the years ended March 31, Shareholder Returns
2014, 2015 and 2016 is not material. Please refer Note 15 of our
Notes to Consolidated Financial Statements. Dividend: For the fiscal year ended March 31, 2016, the Board
of Directors declared an interim dividend of Re 5 per share and
The Company enters into operating leases for office space, recommended a final dividend of Re 1 per share, for a total
hardware, and certain other equipment. These arrangements dividend for the year of Re 6 per share.
are sometimes referred to as a form of off-balance sheet The recommended final dividend is subject to the approval
financing and details are available in the notes to the of shareholders at the next Annual General Meeting, and if
Consolidated Financial statements. approved, would result in a cash outflow of approximately Rs
2,974 million, including corporate dividend tax thereon.
Cash from Operating Activities: Cash generated by operating
activities for the year ended March 31, 2016 increased by Rs On April 20, 2016, we announced our intention to conduct a
611 million over the year ended March 31, 2015, while profit for buyback of equity shares through a tender offer (the Tender
the year increased by Rs 2,355 million during the same period. Offer) in order to distribute returns to the equity shareholders.
This is primarily due to longer collection cycles in India and Under the Tender Offer, we will buy back up to 40 million equity
Middle East business. shares of Rs 2 each (representing 1.62% of total equity capital)
from the shareholders of the company on a proportionate basis.
Cash used in Investing Activities: Cash used in investing The buyback price will be Rs 625 per equity share payable in
activities for the year ended March 31, 2016 was Rs 138,156 cash for an aggregate amount not exceeding Rs 25,000 million.
million. The cash invested (net of sales) in available for sale
investments and inter-corporate deposits amounted to Rs After maintaining a steady dividend payout ratio of 30%, 33%
104,311 million. Cash utilized for the payment for business and 31% for the years 2013-14, 2012-13 and 2011-12, we had,
acquisitions amounted to Rs 39,373 million. We purchased considering the needs of liquidity and strategic requirements,
property, plant and equipment amounted to Rs 13,951 million, enhanced the dividend payout ratio in 2014-15 to 41%.
which was primarily driven by the growth plan of the Company.
For the fiscal year ended March 31, 2016, the payout ratio,
As of March 31, 2016, we had contractual commitments of Rs computed by combining the interim dividend, the proposed
10,734 million related to capital expenditures on construction final dividend (including the dividend distribution tax) and
or expansion of software development facilities, Rs 16,859 the aforementioned buyback will be 48%, an increase of
million related to non-cancelable operating lease obligations approximately 7% from the payout ratio for the previous year.
and Rs 21,760 million related to other purchase obligations.
Plans to construct or expand our software development Final dividends on common stock are recorded as a liability
facilities are determined by our business requirements. on the date of declaration by the stockholders and interim
dividends are recorded as a liability on the date of declaration
In relation to our acquisitions, a portion of the purchase by the Board of Directors.

Wipro Limited 45
Outlook workforce with 60% of our employees under the age of 30
years and an average age of 30.6 years.
Historically, we have followed a practice of providing revenue
guidance for our largest business segment, namely, IT Services.
The guidance is provided at the release of every quarterly People Strategy
earnings when revenue outlook for the succeeding quarter Our people strategy is designed to fulfil organizational strategy
is shared. Over the years, the Company has performed in line in the current and emerging business context and is built on
with quarterly Revenue guidance. the foundation of our values

On April 20, 2016, along with our earnings release for quarter Our analysis of employees perception, expectation and
ended March 31, 2016, we provided our most recent quarterly feedback, forms a primary input in designing our talent
guidance. We expect Revenue from IT Services segment for the management processes. Additionally, our customers, investors
quarter ending June 30, 2016 to be in the range of USD 1,901- and peer organizations also influence our people value chain
1,939 million*. and provide perspectives on material issues and risks. Finally,
* Guidance is based on the following exchange rates: GBP/USD at 1.42, Euro/USD at
the geo-political situations, particularly in markets where we
1.12, AUD/USD at 0.74, USD/INR at 67.31 and USD/CAD at 1.35
have high dependencies also form a vital input to our people
strategy.

WORKPLACE SUSTAINABILITY We have taken an integrated talent management approach

that spans the complete employee lifecycle. Our talent strategy
(HUMAN CAPITAL) has the following core elements:
Human Capital is our most important asset in fulfilling our
business strategy. We continuously strive to build a best-in- Commitment to Human Rights: Our Company wide Code Of
class organizational culture to attract, build and retain talent Business Conduct (COBC) and our recently launched Human
across levels, globally. We are committed to partnering with Rights Policy reemphasize the principles of equal opportunity
employees and strengthening our talent pool by providing and meritocracy as embedded in our core values. They are
them with growth and career enhancement opportunities. aligned to globally accepted standards and frameworks like
Today we have a large and diverse workforce, and we the U.N. Global Compact, U.N. Universal Declaration of Human
continuously design and implement processes and programs Rights and International Labor Organization. Our commitment
to foster people development, leadership development, and to human rights covers employees, suppliers, clients, and
skill enhancements among our global teams. communities across geographies where we do business. We
have also established committees like Prevention of Sexual
Harassment Committee, Audit/Risk & Compliance committees
A Global Diverse Workforce to review progress and formulate strategies to address material
issues pertaining to compliance.

Diversity & Inclusion (D&I): Nurturing diversity and making

inclusivity a part of Wipros culture has remained a key focus
area for the organization and is a strategic enabler for business
sustainability. Our D & I Program was formally launched in
2008 to give shape and direction to this commitment. The
focus of our D & I program is multi-dimensional and consists
of four pillars gender, persons with disability, nationality, and
underprivileged communities. Our collaboration with research
partners and industry platforms like Catalyst, CII, NASSCOM,
Diversity and Equal Opportunity Centre (DEOC) bring to the
fore focus areas and industry trends which help in shaping our
D & I charter.

As on March 31, 2016, our global workforce comprised over Employee Well Being & Safety: Through our programs,
150,000 employees with 32% of them being women. Our we believe in influencing all aspects of an employees life
workforce across 55 countries comprises employees from 100+ including physical, mental and emotional well-being.
nationalities. Over the years, we have cultivated a strong local Protection of employees from injury or occupational disease
national footprint in our international geographies with 42.3% is a major continuing objective. To this end, we continued
of onsite workforce as local nationals. We have a very young our efforts to enhance safety & security at the workplace by

46 Annual Report 2015-16

prescribing policies & procedures, creating awareness and system is designed to achieve holistic employee development
imparting trainings. We have institutionalized key policies like through performance differentiation, transparency, and
Prevention of Sexual Harassment policy and a robust grievance effective evaluation. There is a structured process of formally
redressal system. and objectively evaluating ones performance against defined
goals & objectives. In FY 15-16, we moved away from bell curve
Comprehensive Benefits & Rewards: We continually strive rating fitment, hence giving managers complete ownership to
to provide our employees with competitive and innovative rate their teams performance, while at the same time being
compensation packages. We have devised variable pay accountable to align individual to unit performance. As part
programs linking both business unit performance and of the performance evaluation process, for middle and senior
individual performance. As a pioneering effort among all Indian management roles, feedback is also provided through a
IT companies, Wipro started providing long term incentives by 360-degree feedback on leadership competencies. Appropriate
granting restricted stock units (RSUs) in 2004 towards long development plans and interventions are then charted out
term retention of key talent/ niche skills. Our benefits program based on discussion between manager and employee.
takes an integrated approach and provides a range of options
for better financial and social security including efficient
tax-management options, insurance & medical packages,
assistance in managing financial and personal issues.

Our programs are reviewed to ensure relevance to todays

changing workforce and mirrors the latest industry offerings,
based on the regions local regulations / laws and norms.

Employee Engagement & Empowerment: We believe that

an informed workforce is an empowered workforce and only
when employees are aware of the policies and processes that
impact them, can they truly participate in the consultation
process. With this in view, we have institutionalized various
channels that create awareness, foster dialogue, and provide
opportunities for employees to give feedback. These include
awareness campaigns through mailers, blogs, webchats,
webinars, policy sessions group announcements for key
organizational changes/updates, quarterly Wipro Meets
session with the CEO and senior leadership teams, All Hands
Meet with business leaders, and group and individual connect
sessions with the human resources teams. Over the years,
our focus on participative engagement has increased and
Performance Highlights
our programs have been more closely aligned to cater to our A) Diversity & Inclusion (D&I)
diverse and multi-generational workforce. Defined metrics
on employee-connect events are embedded in the key Gender Equity Program: Recognizing that at different life-
performance areas of leaders and the HR function alike. stages the needs & expectations of women employees are
different, Wipro adopted a life-stage based approach to its
Careers & Capability: In the face of changing client expectations gender equity initiative program called Women of Wipro.
and the advent of rapidly changing technologies, it has become Focus on gender diversity in Wipro in 2015-16 has been around
imperative to have a platform that equips the organization with developing and nurturing the women talent in the organization
futuristic skills and competencies. Anticipating and defining through various initiatives.
future needs and developing these competencies in the
employees is vital to organizational sustainability. Wipro offers Women of Wipro mentoring Program has won the prestigious
multiple learning & development opportunities to employees NASSCOM award for the Best program in Gender Diversity for
at various stages of their career. These are aimed at upskilling, 2015-2016 in IT/ ITES companies. It is a mentorship program
cross-skilling, and reskilling through a number of training for High Potential women employees in middle management
programs in technical, domain, soft skills, and leadership mentored by senior Wipro leaders.
aspects. While dedicated teams identify learning needs at
an organizational level, employees partake in identifying Women In Technology Forum aims at encouraging and
their individual learning needs through appraisals, feedback increasing women technologists in Wipro and increasing their
surveys, and career tools. Our performance management visibility through Internal & External forums. Senior women

Wipro Limited 47
leaders represented Wipro in the prestigious Grace Hopper like all others. We continued our recruitment efforts through
conference hosted by Anita Borg Institute with the focus & collaboration with NGOs and hired 17 talented candidates
aim to drive Women in engineering initiatives. Workshops on with disabilities. Our focus has also been on providing pre-
Idea Patenting were organized for women employees. Career hiring support like internship opportunities with interns from
Individual Development Plans for middle management women institutes like ELMS Global (Bangalore), Ekansh Trust (Pune).
technologists is tracked as an aim to develop their careers.
Key highlights for 2015-16 below:
Your Career Your Choice is a Classroom based Training Module
for High Potential women employees who have recently A number of events were organized to engage with
taken on managerial roles. The program aims to be a positive persons with disability International Day for People
reinforcement for them to relook at their careers with a long- with Disabilities was celebrated by conducting various
term view and evaluate the specific strengths they bring to the awareness programs & contests. Annual All Hand Meet
table. for persons with disability included panel discussions and
provided a platform to recognise talent across various
WoW (Women of Wipro) speaker series: Senior women award categories. We also organised a Campus Connect
leaders from client organizations conducted open connect for Visually Impaired students from Deal Foundation.
sessions with women employees of Wipro under the aegis of Networking opportunities were provided to persons
WoW Speaker Series. with disability connect at Global Forums- A Wiproite was
chosen among four others from India to represent at UNs
Global Disability Forum.
Our partnership with Diversity and Equal Opportunity
Centre (DEOC) continued through the year to advise us
on the inclusion initiatives for employees with disabilities.
Wipro Kinesics Portal (a medium to learn basics of
sign language) was upgraded with a focus to improve
accessibility of our information systems.
Advocacy- Wipro Sponsored Ability Fests film screening
festival in Chennai & Break Barrier Fest . We were invited
for a Guest session on insights from Industry experts for
a Seminar on Sourcing Non-Conventional Talents makes
Business Sense by NHRD, Kolkata.

B) Employee Well Being & Safety

We have institutionalized health and safety processes including

trainings for service providers, risk assessments ,ergonomic
Wipro has participated in various eminent forums by bodies session for employees, vaccination campus, health awareness
like SHRM, Academy of International Business, NASSCOM, sessions and regular cafeteria food inspections. There is special
Catalyst, WECC, NHRDN, and Trilegal during the year. The focus on aspects such as womens safety, assistance to persons
themes covered included Empowering Women Leadership, with disability, emergency response, and preventive health &
Maternity Benefits, Building Awareness to Driving Change, safety measures.
Promoting Young Women in Engineering and Gender Balanced
Leadership. Key highlights for 2015-16 below:

Persons with Disability Program: Our inclusion framework for Hazard Communication: Employee connect programs
Persons with Disability (PwD) focuses on key themes of Policy, conducted to bring awareness among employees on
Accessible Infrastructure, Accessible Information Systems, reporting of hazards, unsafe conditions and unsafe acts to
Recruitment, Training and Awareness. In 2015-16, Wipro won help in reduction of Injury rate.
Asia-Pac award in the Workplace Category at Disability Matters Scheduled programs were held across India locations
Asia-Pac Conference held at Bangkok. on emergency response, mock evacuation drills, hazard
recognition, driver safety training, first aid training, fire-
As on March 2016, 368 employees had voluntarily declared fighting training etc.
their disabilities through our online Self Identification Form. Womens Safety: Security teams are trained on gender
Number may vary since a number of employees with disability sensitization as a part of their on-job training and
do not prefer to declare their disability and wish to stand at par induction. Cab pickup and drop facility with security

48 Annual Report 2015-16

 escort is available for women employees travelling in night Engagement team (PEET) is responsible for building an
hours. Women of Wipro committees are formed to discuss engaged and motivated contract workforce. In FY 15-16, the
concerns and suggestions on womens safety. In FY 15- PEET team led various initiatives like client-site visits to meet
16, around 1886 women employees have undergone the contractor employees to understand needs and concerns
Security Awareness and Self Defense sessions conducted & initiated programs to build capability through training
across locations. programs. Focused initiatives through these programs have
Vehicle based Quick Reaction Teams deployed in major led to higher engagement and retention levels.
locations continues to provide services to ensure safe
commute and help during emergencies. D) Careers & Capability
Over 160,000 participants (employees, contractors and
service providers) attended trainings on Health & Safety Based on the evolution of technology and customer/market
covering Occupational health, Transportation, Hospitality, dynamics, our learning and development (L & D) function
emergency response and Security domains. launched multiple programs to upskill/reskill employees in
Flood Deluge: Post floods, free vaccination camps were technical as well as behavioral competencies. Employees
organized at Chennai and 5824 employees / service built their capabilities through e-learning modules, expert
providers & their families were vaccinated as part of social and peer learning, project trainings, webinar participation,
cause. outbound trainings, on-job learnings & mentoring. Year 2015-
16 saw an impetus on assessments for key roles and specialists;
C) Employee Engagement & Empowerment and enablement of the sales teams through sales training
workshops.
Wipro holds employee feedback in very high regard and
solicits this through formal surveys, informal forums like one One key area of focus has been to ensure that our employees
to one meetings, All Hands Meetings, focus group discussions, are trained in Digital and quickly deployed:
roundtables and team meetings. Through its social networking
platform, Yammer, it has enabled employees to crowd source 1. Approximately 15,000 employees trained through an
ideas & suggestions, provide real-time feedback and ask innovative platform called Future Ready for building
queries directly to leaders / functional teams. Awareness on Digital Technologies for all customer-facing
roles.
Freedom of Association: We respect the right of employees 2. Over 20,000 employees trained on core digital technologies
to free association without fear of reprisal, discrimination, through Digital Foundation Academy.
intimidation or harassment. A small proportion of our 3. Over 4000 employees benefitted from a program
employees (~1%) are represented through registered trade called Cutting EDGE program which trained employees
unions, local employee representative groups and work on advanced skills for Digital transformation, such as
councils in Ireland, Germany, Finland, Sweden, France, Austria, Digital Architecture, Big Data, Analytics and Mobile Apps
Poland Romania, Netherlands and Australia. The HR function Development.
meets these groups periodically to inform and consult on any
change that can impact work environment.
Besides the above, through our Train to Bill initiative , employees
whose projects are nearing end or are between projects to be
Employee Perception Survey (EPS): Our formal mechanism to
deployed to new projects, are imparted just in time training to
capture employee feedback is through (1) Biennial Employee
suit the needs of the new project. The L&D team works with the
Perception Survey (EPS), and (2) a shorter dipstick survey (EPS
business teams to identify the gap in the skills of the employee.
Pulse) which is held between two EPS cycles. EPS survey 2015
Just In Time training is provided to address skill gaps so that the
saw both an increase of participation and engagement from the
employee can then be deployed in new project opportunities.
previous biennial survey in 2013. Our employee engagement
This initiative aligns training to the business demand and helps
scores went up by 1 per cent point and employee participation
in rapidly fulfilling customer requirements.
scores went up by 4 per cent points. EPS 2015 results have
already been studied and action areas for the upcoming year For a number of our capability building programs, Yammer has
have been finalized which includes key initiatives around been used extensively for social learning. For example, groups
Manager Effectiveness, Careers & Capability. have been created focusing on specific technologies/roles in the
organization, where employees can come together to effectively
learn from each other. After classroom training, the faculty use
Contract Employee Engagement: Our focus on responsible
this platform to engage with the participants for continued
people practices extends across our people value chain, and learning. The discussions are analyzed to derive feedback which
covers contract employees and retainers, primarily located enables L&D to improve training programs. To generate interest,
across our operations in India. Many of these employees we launched a competition across the various groups in Yammer
are deployed at our client sites, and a Partner Employee on how they could use the social media platform effectively

Wipro Limited 49
for learning. The groups were measured on the number of Governance approach Human Capital
discussion threads and responses, as well as the quality of the
posts. There was enthusiastic participation and many of the It is our belief that long-term sustainability requires a structured
groups demonstrated creative and innovative ways of using approach to identify, monitor, and measure indicators of
social media for learning. Over a period of just 6 months, more performance and drive higher accountability. With this in
than 8,000 employees participated in learning groups, posting view, we have built people indicators like attrition, employee
85,000 threads of discussion. satisfaction scores, employee engagement initiatives, talent
development initiatives into the goals and targets of people
Summary Dashboard functions and leaders who have maximum influence in
impacting them. This has created a higher level of accountability
and drive in improving people indicators. The indicators provide
key insights into the effectiveness of people strategies and
are reviewed regularly both at organizational and individual
business unit levels through one-to-one performance reviews
and team reviews.

INNOVATION (INTELLECTUAL CAPITAL)

Wipros Research and Development (R&D) initiatives continue
to focus on strengthening and extending our portfolio of
IT services across multiple new and emerging technology
areas as well as in the intersection of these technologies. We
are investing in developing solutions and services around
multiple advanced technology areas (commercial wearables,
smart robotics, autonomous vehicles, augmented reality,
virtual reality, etc.), co-innovating with customers on emerging
themes (Digital), enabling new customer experiences, building
HR indicators (as on March 31 ) our patent portfolio, shaping innovation culture by running a
Overall Workforce Strength FY 15-16 FY 14-15 number of initiatives to support and fund ideas and also by
working closely with partner/startups ecosystem, academia
Headcount (including 172,912 158,217 and expert networks to bring cutting edge innovations to our
Contractors) customers.
Contractors (Core & Technical)@ 20,930 19,044
Diversity & Inclusion FY 15-16 FY 14-15 To drive open innovation efforts for our customers, we are
driving many new age innovation initiatives through startups
Ratio of women 32% 30.20% connects, hackathons, ideathons, etc. We are part of various
No. of Nationalities 100+ 100+ industry and startup forums including the NASSCOM Industry
Partner Program (NIPP) that connects promising startups with
Local National % as % of onsite 42.3% 40.1%
corporates, to enable partnerships and growth. We are working
employee strength with various open innovation intermediaries to tap into expert
Total number of people with 368 439 networks across the world to complement our specialists on
disabilities niche projects to solve complex customer problems involving
No. of people with disabilities 17 76 Artificial Intelligence, Next Gen Architecture, Cognitive
Systems etc. We have partnerships with academic and research
hired during the FY
institutions across geographies.
Engagement & Well Being FY 15-16 FY 14-15
Voluntary Attrition %* 16.1% 16.5% We are driving co-innovation with customers on emerging
themes, conducting joint research, proof of concepts (POC),
Headcount on enterprise wide 85,000+ 57,000+
pilots etc. Some of the emerging areas include block chain,
social platform as on 31st March 7,500+ users, 4,700 biometrics, new architectures and smart devices.
2016 unique groups
groups The innovation incubation center, Technovation Center
Headcount trained on Health & 160,000+ 130,000+ continues to play a key role in helping customers design,
Safety conceptualize, and experience by leveraging future of
technologies, industry processes and consumer behavior. The
Gross Utilization** 68.8% 69.4%
Technovation Center has now evolved into an experience
@ In addition, we deploy personnel for security services, Facility management and other allied
services through our partners platform to demonstrate the Wipro solutions to our customers.
* IT Services excl. BPS We have started work on our new Technovation Center in
** IT Services excl. BPS, I & ME
Mountain View, CA, USA, which would cater predominantly
to U.S. and Canadian geography customers, when fully
operational.

50 Annual Report 2015-16

Enabling Innovation fast pace, thereby significantly accelerating the big data
implementation in a cost effective manner.
Wipro follows a federated model for innovation with innovation
being driven through multiple structures. The CSO (Chief The innovation incubation center, Technovation Center
Strategy Officer) and his group invests in long term solution continues to play a key role in helping customers design,
building and aids the investment efforts of the Business Units / conceptualize, and experience by leveraging future
of technologies, industry processes and consumer
Service Lines by supporting some selected seeding initiatives
behavior. The Technovation Center has now evolved
that are designed to create new business services for Wipro. into an experience platform to demonstrate the Wipro
solutions to our customers. We have started work on our
The CTO (Chief Technology Officer) and his group drive new Technovation Center in Mountain View, CA, USA,
innovation through investing in a set of technology themes that which would cater predominantly to U.S. and Canadian
can be applied to create services in different industry verticals. geography customers, when fully operational.
The CTO Office also anchors innovation crowdsourcing and
open execution processes within and outside the organization We are also building solutions around next generation
through internal innovation programs and by driving an robotics, drones and autonomous vehicles which combined
external program that connects with the ecosystem of startups, with the computer vision and cognitive capabilities can
academia and research institutions. address various market needs across industry verticals.
We are also working on industrial and enterprise wearable
solutions which help improve work force productivity and
Business units (BUs) and Service Lines (SLs) also drive innovation
safety requirements. We had developed a video and sensor
within their respective industry or technology domain and based smart parking solution which is useful in a smart
develop solutions and service products within their remits. city context to dynamically assess parking availability
The internal process transformation group invests in tools across locations, reservation and demand based pricing.
and frameworks that help improve costs and productivity of We have developed a smart healthcare solution called
our delivery processes for both infrastructure and application Wipro AssureCareTM which helps track medication, vital
management services. parameters and is used in elderly Care, home monitoring
and clinical trials.
Key Developments Performance Highlights
Wipros investments in innovation have resulted in many solution
enhancements and new capabilities, which are unique and R&D expenses for the year 2,561 million
differentiated in the market. They have also led to multiple
patents being applied and granted. No. of investments in new startups US$ 15 million
No. of new patent application filed 514
Wipro HOLMESTM, a Cognitive AI Platform with a rich set
of cognitive computing services based on open source Total no. of patents including applications 1,085
software. It is focused towards solving key enterprise
business use cases by injecting cognition into IT and
Business processes. The applicability of HOLMESTM (Wipros CUSTOMER ENGAGEMENT
Artificial Intelligence platform) is now extended to multiple (SOCIAL AND RELATIONSHIP CAPITAL)
domains and processes to offer verticalised solutions to
customers
IT industry is undergoing tremendous change in the face of
We have built a data discovery platform, which provides disruptive technologies. Customer stewardship hinges on
pertinent business insights across the value chain of an meeting customer expectations by being responsive to the
industry through pre-defined applications. Leveraging
emerging trends and offering a portfolio of products and
techniques like visual sciences and story-telling with
data, the data discovery platform provides a unique services which integrate resource efficiency, dematerialization,
value proposition around accelerating time to market organizational transparency, connectedness and collaboration-
for insights resulting in better adoption of insight driven to meet changing customer needs. Customer engagement is
decision making. Built using best of breed open source critical to meet customer expectations and engagement is the
technologies, the data discovery platform leverages foundation on which stewardship rests. Engaging better with
techniques like machine learning, natural language customers improves customer retention.
processing, visualization, stream computing, etc. to bring
to the life the hidden insights in large and diverse data According to a research conducted by Harvard Business School,
sets. Wipro Sight solution uses advanced computer vision a 5% increase in customer retention can result in a profit increase
based algorithms to analyze customer behavior in stores of 25% to 95%, depending on the industry. The key to retaining
for delivering enhanced in-store retail experience. customers is building strong relationships with them and this
We have also built a Big Data Ready Enterprise, which is an requires prolonged and sustained customer engagement. Efforts
open sourced big data product aimed at addressing the towards customer engagement are justified by the lifetime
complete lifecycle of managing data across the enterprise value (LTV) of the retained customer. A retained customer is
data lake that makes it possible to ingest, organize, cost effective as it will require comparatively less service, at the
enrich, process, analyze, govern and extract data at a same time providing more business. It is revenue enhancing as

Wipro Limited 51
a satisfied customer may contribute to customer acquisition by interaction with the client. The processes include CSAT Program,
providing positive referrals. Quarterly pulse surveys and the Annual CSAT conducted
through third party surveys. These are conducted formally
Approach and at appropriate intervals to capture customer feedback on
Wipro. We conduct surveys on brand perception to understand
Wipro believes in creating value for the customer over and customers expectation of Wipro and Wipros position relative to
above the contracted terms. Our approach is based on its competitors.
our vision of delivering maximum value to our customer
businesses based on a solid relationship of trust, collaboration The Wipro Leaders survey is an annual 360 degree feedback
and competence. We ensure this by providing solutions that mechanism. In this Customer Centricity is a key leadership
integrate deep industry insights, leading technologies and attribute on which a leader is given feedback by his peers,
best in class delivery processes. managers and reportees. This feedback is both quantitative &
qualitative and is analyzed and shared with employees.
Wipro communicates and connects with its customers through The Customer Advocacy Group (CAG) in Wipro is part of
a matrix framework. Every strategic account has a dedicated the Quality organization and drives customer satisfaction
Client Partner to own and manage the relationship. Client Partner improvement initiatives for the organization. This group is
profiles the account and offers solutions that are strategically responsible for enabling and tracking the early warning system
relevant to customers. Business Unit heads interact & engage and for addressing alerts before they can potentially become
with customers via regular governance meetings, business serious customer issues. The team is also responsible for driving
review meetings, and client-visits. Service Line heads also effective closures of customer escalations.
interact regularly with the customer. Our CEO visits clients CXO
regularly. Executive sponsors are assigned for all mega accounts Sustainability Expectations from Customers
to maintain and build the relationship.
Apart from technology driven value creation, our global
customers also expect transparency and compliance on different
sustainability aspects within our operations and in our extended
Collaborating with customers to value chain. Many customers require acceptance and alignment
with their supplier code of conduct. Third party supply chain CSR
Do Business better raters like Ecovadis and Verego regularly assess and profile our
sustainability performance in their platform which is used by
more than 30 customers of Wipro. In the recent assessment by
through industry and client insight Client Ecovadis, we have achieved an overall CSR rating of Gold (highest
Engagement among possible three levels). Verego has rated us Best in Class
across all the 5 areas (Leadership, Ethics, People, Community
Uncovering key characteristics of indus- and Environment) and designated us as a CSR Thought Leader.
Deep
Industry
We have been assessed by customers for industry consortium
Insights developed sustainability protocols like the JAC (Joint Audit
Consortium) of Europe based telecom companies and the
Delivery models targeting
Pharmaceutical Supply Chain Initiative (PSCI). We also have
Standardization been benchmarked against over 4,000 other companies that
aligned KPIs's of responded to CDPs 2015 supply chain information request
Delivery
sent on behalf of 74 CDP supply chain members with over US$2
trillion spend and received a disclosure score of 100 which is the
Engage, retain, develop for
best possible score.
enabling transformation. Invest-
Innovation
ment in next gen technologies
Network Performance Highlights
360 degree relationship; Revenue generated from existing customers / retained accounts
Strategic
Partnerships and Net Promoter Score are good indicators of the relationship
innovation with product partners
capital of Wipro from customer engagement perspective.

Collaboration with customers; Number of active customers 1,223 (up from 1,054)
employees; partners and
community Culture Revenue from existing maintained at 98.1% in
customers 2015-16
Net Promoter Score Increased by 420 basis points
The Customer Centricity framework which includes listening to
for 2015-16 as compared to
Voice of Customer (VOC) drives our execution. The Voice of the
Customer is heard at various levels i.e., at project level, program the previous year
level, account level and through direct feedback, informal
meetings, governance meetings and senior management

52 Annual Report 2015-16

INVESTOR ENGAGEMENT meeting all the supplier to ensure they follow the risk and
compliance processes and statutory guidelines adherence to
(SOCIAL AND RELATIONSHIP CAPITAL support compliance with Wipros supplier code of conduct. A
Our endeavor is to, not merely, report true and fair financial dedicated vendor helpdesk handles supplier queries on payment
results in a timely manner but also communicate the business issues, policy clarifications and provides the initial contact for
outlook, risks and opportunities transparently to the investor grievance redressal.
community. With reliable financial results and consistent Our approach to engagement is multi-pronged and the focus
messaging of economic environment, investors are empowered is to improve the capabilities of suppliers in managing their
to take investment decision best suited to their risk profile. sustainability performance.
We deploy multiple channels of communications to keep the
investors informed about various development and events. The approach is represented below:

Wipros senior management leaders along with our dedicated

Investor Relations team participate in various forums like investor Inform Collaborate Assess Understand
conferences and investor road shows, in addition to hosting
investors and equity analysts who visit our campus. Our quarterly
results, regulatory filings, transcripts of our earnings call, media
presentations and schedule of investor interactions are available
at http://www.wipro.com/investors/
Communicate Educate our Audits and Understanding
We participate in different investor led disclosures like Dow intent and suppliers on assessments of the context
Jones Sustainability Index, Vigeo and Carbon Disclosure Project. requirements environmental, suppliers and current
Wipro was selected as a member of the global Dow Jones to our social and compliance of
governance our suppliers
Sustainability Index (DJSI) - 2015 for the sixth year in succession. best practices and
Wipro is included in both the DJSI World and Emerging Markets to be developing
Indices. Euronext Vigeo Emerging Market Sustainability Index incorporated policies and
in their processes
also includes Wipro among the 70 most advanced companies business
in the Emerging Market Region.
Engage with the suppliers to improve their
Engagement Highlights Engage capabilities in managing their sustainability
performance
The following table details the different types of engagement
exercise undertaken by the company in 2015-16. A significant feature of our engagement is how we align our
community or CSR (Corporate Social Responsibility) programs
Particulars Q1 Q2 Q3 Q4 FY with supplier engagement wherever it is possible. This can
Investor Meetings 27 29 40 49 145 address some of the fundamental issues at hand our bridge
program in education for children of migrant laborers for our new
Conferences attended 4 5 5 3 17 infrastructure projects and city municipal solid waste workers are
Road shows conducted 3 1 2 1 7 some examples of areas of engagement in Bengaluru.
AGM Held 1 1 Various strands of our Supply Chain Sustainability program:
SUPPLIER ENGAGEMENT 1. Risk assessment or materiality study of our supply chain
(SOCIAL AND RELATIONSHIP CAPITAL) Trucost (UK), Fronesys (UK) and Supply Chain audits of
key support services by DNV has helped us identify and
We value our suppliers as key stakeholders and believe in prioritize supply chain areas for engagement
engaging with them beyond the scope of legal compliance.
The program is driven more by responsible engagement and 2. Supplier Code of Conduct - Communication and
commitment as informed by our values. Our Code of Business evangelization through on-boarding, supplier meets and
Conduct which provides the ethical guidelines and expectations other forums
for conducting business directs Wipros relationship with its 3. Quarterly supplier audit for human rights and labor practice
suppliers and is applicable to all suppliers, agents, service based on materiality assessment.
providers, channel partners, dealers, distributors and vendors
(Suppliers). 4. Green procurement guidelines based on EPEAT (Green
Electronics Council) communicated to suppliers
In the reporting year, the procurement leadership and Chief Risk
Office took up the Initiative of meeting suppliers across three Supplier Diversity: Wipro is an Equal Opportunity employer
locations - Chennai, Pune and Hyderabad. The Team has covered and strongly advocates the same through its supply chain by
significant numbers of suppliers in the Facilities management encouraging supplier diversity. Qualified enterprises owned
category. This initiative is taken up with primary objective of by person with disability, women or member of minority

Wipro Limited 53
communities are identified and engaged with. Diversity supplier Governance
spend contributes to 5.4% of total central procurement tracked
spend for India operations. Diversity classification is based on The review of our social programs is done at multiple levels. Every
supplier self-disclosure and is not verified. three to four years, the program strategy is reviewed with the
Chief Sustainability Officer (CSO), and revised as needed. Every
Local Procurement: Wipro encourages sourcing from the local year, an annual review and goal setting exercise is done with
economy. At an aggregate level, nearly 75% of our suppliers are the CSO and presented to the Chairman and Group Executive
based in India; by value 66% of the procurement for the year
Council (CEC). Every quarter, the progress is reviewed by the
was from India based suppliers. Local sourcing reduces costs,
CSO and presented to the Chairman as well as to the Board
provides local employment benefits and reduced environmental
Committee on CSR.
footprint in sourcing.
Our work with organizations is usually in the nature of
Performance Highlights programmatic support. They typically span a period of three
years and may be extended further, if needed. We work closely
Diverse supplier spend 5.4% (Supplier declared) with our partners and review the progress and participate
Local supplier spend 75% by number of suppliers and in important decisions along with them during the lifecycle
66% by value are based in India. of the project. Details of the Corporate Social Responsibility
(CSR) spend across areas and the list of partners is disclosed in
EDUCATION & COMMUNITY
Directors Report section of this report.
(SOCIAL AND RELATIONSHIP CAPITAL)
At Wipro, we think that it is critical for business to engage with Key Programs
the social and ecological challenges that face humanity in a
deep and meaningful manner with long term commitment; Education
for that is the only way by which real change can happen on Wipro Applying Thought in Schools
the ground. We try to engage with communities on issues that
matter to them most. Wipro Applying Thought in Schools is Wipros social initiative
in school education that aims to build capacities for systemic
Approach reform in India. We support social organizations across
India working in education reform through partnerships in
Wipros social initiatives center on the following dimensions.
Education: Engaging in deep and meaningful systemic educational interventions such as curriculum and material
work in the area of school and college education development, assessment reform, advocacy, teacher capacity
building and systemic capacity building. Over the past 15 years,
Community Care: Engaging with the community on issues we have associated with 69 organizations at different levels. We
of utmost concern to them have provided financial support to 51 organizations.
Ecology: Addressing environmental issues We are currently in a phase of expanding our work. Drawing on
our experience from the last 15 years, we aim to significantly
increase the number of organizations that we support, with
a special focus on new and early stage organizations. The key
objective of 2015-16 has been to lay the ground and initiate
the expansion.
Key Updates of 2015-16:
A strategic and operating framework has been developed
for accelerated expansion of partner network to 100
organizations over the next 5 years
A five-member Governance Committee has been
COMMUNITY constituted for decision making
CARE
Primary Healthcare Children with disability Seeding Fellowship program launched to support
Education for Environment
individuals and groups who have founded young
EDUCATION underprivileged Disaster rehabilitation ECOLOGY organizations working in school education
School education in India WATIS Energy & Carbon
School education outside of India - USSEF Water Continued to support 16 organizations through
Sustainability education - earthian Waste programmatic grants, fellowships, conferences and
Higher education - Mission 10x, WASE, WiSTA Biodiversity
publications. This included engagement with four new &
WATIS - Wipro Applying Thought in Schools USSEF - United States Science Education Fellowship
WASE - Wipro Academy of Software Excellence WiSTA - Wipro Software Technology Academy
upcoming organizations being supported from last year.

54 Annual Report 2015-16

 Five new organizations were finalized for support in line School of Sustainability. The CEP program in schools focused
with expansion strategy : two of these pertain to seeding on curricular intervention- where we developed a unique
fellowships and three towards organizational support sustainability curriculum for Wipro-earthian schools which is
being piloted in 9 schools across India.
Instituted an award for childrens literature in partnership
with Goodbooks Trust and The Hindu Lit Fest Wipro Science Education Fellowship Program
Support to Eklavya for educational publications such as in the U.S.A.
Beta Kare Sawal (a book for adolescent boys), an atlas for
children etc., to be published in FY 16-17. We started a significant program in school education in 2013
in the U.S.A. While the expenditure associated with this may
Supported conferences on: multilingual education not be allowable as CSR as per the Companies Act 2013, this
organized by Muskaan and Eklavya; Impact Assessment is an integral part of our global CSR strategy and therefore
in Environmental Education conducted by Nature something that merits disclosure. The program is currently
Conservation Foundation; Worlds of Fear: School Culture, running in Chicago, New Jersey, New York and Boston. We
organized by Centre for Learning and a conference on Nai are partnering with University of Massachusetts, Boston and
Talim organized by Anand Niketan. Michigan State University. Mercy College in New York and
Montclair State University in New Jersey are also involved. The
Wipro-earthian program works in close collaboration in over 20 school districts
Wipro-earthian is Wipros Sustainability Education Program wherein 250-350 teachers go through a 2 year fellowship with
which seeks to support and drive sustainability thinking and intense support to develop their capacities to be better teachers
action through the learning process in school and colleges and change leaders. The district administrators are a part of the
across India. The program completed 5 years in 2015. In 2015- program. We intend to expand these programs to other cities
16, we saw very enthusiastic response reflecting in a massive in future. The current commitment of Wipro to these programs
increase in participation numbers, outreach and representation. is about USD 7.8 million over a period of 5 years. This is a large
We achieved wide geographical representation in 21 states, and substantial commitment to improving science and math in
45 districts and increased our reach to 2,000 schools, 1,500 school education, one of the largest such commitments made
colleges and 2,200 teachers. This was achieved by developing by a non US company.
new partnerships with 6 state government bodies and 3 civil
society organizations who played a key role in ground outreach.
Mission 10X
Our cumulative outreach was more than 10,000 educational Mission10X is a not-for-profit initiative of Wipro Limited
institutes via social media and other digital channels. Fiscal which was started on September 5, 2007 towards enhancing
year 2015-16 saw the program being translated to 4 languages the employability skills of engineering students by building
and our total submissions have crossed 1,300 which is a 3- fold capacity of engineering education infrastructure. The first
increase and the highest ever. Nine college and 12 school teams phase of Mission10X focused on training teachers on pedagogy
selected as winners by national jury and felicitated by Mr. Azim while the second phase has focused on SMALLER and DEEPER
Premji at the annual Wipro-earthian awards. Engagement philosophy where a set of selected Engineering
colleges have been given a deeper educational interventions.
The Continuous Engagement Program (CEP) program aims
The following three essential attributes of a Graduate engineer
promote integrated sustainability education in schools and
are covered in all Mission10X interventions:
colleges and to co-create educational practices within institutions
that leads to sustainability action and thinking. In colleges CEP Communication: Ability to communicate with others for
was driven by a few key initiatives such as our Sustainability shared understanding in technical, behavioral, logistical
Internship program where we facilitated a diverse range of and practical concern.
sustainability internship opportunities through our partner
ecosystem for 10 students from 6 winning colleges. As a first, Collaboration: Ability to work collaboratively to explore
2015 also saw the launch of the Wipro-earthian Sustainability possibilities to address the stated problem by drawing
quiz where we successfully ran quizzes at the Indian Institute of knowledge from diverse professionals and backgrounds.
Management (IIM) Ahmedabad Confluence festival and the IIM Deeper Learning: Ability to learn deeply to articulate a
Bangalore Exemius festival where 227 teams and 681 students problem statement and analyze given data.
participated. Two noteworthy initiatives were the launch of
the Wipro Sustainability Fellowships at IIM Bangalore as well The needs of important stakeholders of engineering education
as the co-curation of a round table discussion on sustainability ecosystem such as principals, heads of the departments (HoDs),
education which was attended by 60 regional colleges in Orissa. faculty members and students are met through a program that
As a part of our strategic collaboration with XUB, Bhubaneshwar enhances overall learning incorporating structured engagement
we also facilitated a one month sustainability discovery program and effective delivery systems.
across India for 6 students from the PG program at the Xavier

Wipro Limited 55
In 2015-16, we launched the Students Project Competition, in the cities of Pune, Hyderabad, Kolkata, Mumbai, Dimapur,
Prakalpa (means Project) for all the students of these 54 Bangalore, Delhi and Chennai. These projects support and
Mission10X Technology Learning centers (MTLCs). The objective enable children to stay in school through remedial education,
of this initiative is to promote problem solving, innovation, nutrition, drinking water facility, health check-ups and solar
competitive spirit and collaborative learning across MTLCs. heating-lighting facilities. We also expanded into the North-East
Prakalpa is designed to be conducted at 2 levels one at specifically targeting children of migrant labourers through non-
the regional level and second one at the National level. First formal education and thereby mainstreaming these children
level competition was held in 3 regions and the national into formal education.
level completion was held at Bengaluru. A total of 74 projects
Disability: We have 12 projects through which we are currently
from more than 20 MTLCs across 10 states were selected for
supporting the educational and rehabilitative needs of over
participation.
2,500 underprivileged children with disabilities in the cities of
Summary update till 2015-16 (Since inception) Bengaluru, Pune, Jaipur, Delhi, Chennai, Mumbai and Hyderabad.
A wide range of disabilities were covered, including Visual,
Engagement with 1,300 Institutes from 30 states in India
Speech & Hearing, Locomotor, Intellectual and Developmental
28,830 faculty trained on Pedagogy (505 Faculty on Unified disabilities. Under disability, our focus is on early intervention
Technology Learning Platform) and inclusive education to ensure that children with disabilities
have access to quality education and the opportunity to lead a
238 Principals and 303 Heads of Departments trained on
life of dignity. Many projects also include capacity building of
academic leadership capabilities
families and communities to identify and manage disability at
Addressed 10,000 pre final and final year students on an early stage.
importance of employability skills
Primary Healthcare: Our primary health care projects, in
Created 10,000 integrated innovations in teaching and partnership with NGOs, typically provide quality preventive
learning processes with faculty contributions and curative health care services to underserved communities.
Through two of our health care projects, covering 60 villages
Trained 1,000+ students on Engineering Thinking module
across Maharashtra & Nagaland we are providing more than
Guided 500 projects of final year students across MTLCs 30,000 people access to primary health care. Apart from
providing regular curative services, we are augmenting the
54 MTLCs (Mission10X Technology Learning centers) existing state infrastructure, training ASHA workers and building
operational in 12 states. capacity of local groups and thus providing health care services
12 Affiliations including NASSCOM and ISTE and 3 in hard-to-reach remote villages to tribal communities as well
International affiliations as generating awareness on health rights.

Best Practice Award from CorpU, USA, for excellence and

innovation.

Community Care
Wipro Cares
Wipro Cares is a not-for-profit trust that engages with our
proximate communities on the issues of Education for the
Underprivileged, Primary Health-Care and Environment. In
addition, the trust also works on long-term rehabilitation of
affected communities after natural disasters.
Wipro matches 1:1 all monetary contributions made by
employees to Wipro Cares. The number of employee contributors
stands at more than 51,000, possibly making this the largest such
example in India and the world. Environment: We are working on providing social and nutrition
Key Updates of 2015-16: security to about 2,000 waste workers in Bangalore, through a
solid waste management project, along with upgrading their
Education: The education projects continued to provide skills to assist them in augmenting their livelihood and live a
educational opportunities to underprivileged children, typically life of dignity. This project has further been scaled up to focus
children who are most marginalized due to their socio-economic on providing waste pickers the access to social, nutritional, and
status, for example children of migrant laborers. More than health security.
65,000 children benefited from the sixteen education projects

56 Annual Report 2015-16

Disaster Rehabilitation: Wipro Cares focuses on long term Current Initiatives in South Africa include
rehabilitation of the affected communities after a natural
Graduate internship program - In partnership with
disaster. We do this because we think that any kind of natural
universities, this program provides students, mostly
calamity usually affects the social fabric of the community and
from previously disadvantaged communities with an
it is important for us to address that impact. In 2015-16, we
opportunity to gain skills and experience in various roles
continued support to communities affected by the Uttarakhand
in real world scenarios, leading to employment with Wipro
Floods and initiated a project to work with 1,000 families
South Africa for participants who complete the program
on exploring alternative modes of livelihood to reduce their
and meet qualifying criteria.
economic dependence on tourism and increase their resilience
as a community. Wipro Cares also supported the victims of Grant library/computer centers in schools and communities
Chennai floods in December 2015 by collaborating with NGOs and an after-school support center towards supporting
experienced in disaster relief operations and worked with the school education of previously disadvantaged communities.
local government to help affected communities with particular
Financial and non-financial support to small and medium
focus on disadvantaged groups and those living near Wipro
enterprises.
campuses.
In Philippines we initiated two projects for underprivileged Summary Dashboard
and disaster-affected communities in partnership with
International Care Ministries (ICM) and World Wildlife Fund Education Wipro Applying Thought in Schools
(WWF) to address key developmental issues of the underserved supported 113 projects so far and
and underprivileged communities in the country by building associated with 69 organizations at
different levels.
capacity of local groups through Health lessons that cover a
wide curriculum that ranges from nutrition, disease prevention, Wipro-earthian saw a participation
to proper sanitation; and Livelihood classes to equip participants of over 3,000 schools and colleges,
with different backyard small businesses to earn a living within 15,000 students and 2,200 educators
their immediate community. nationwide
Employee Engagement: More than 51,000 Wiproites More than 250 selected teachers go
contributed monetarily to Wipro Cares, making this possibly through an intensive 2 year program
the largest such initiative in India and one of the largest in in building improved teaching
the world. Employee volunteering efforts doubled with over competencies as part of Wipro Science
7,703 employees (globally) engaged in voluntary activities Education Fellowship
contributing to 14,434 hours in 2015-16. We organized various Community Health care services of Wipro Cares
volunteering events and encouraged employees to volunteer Care reach out to around 30,000 people in
with our partners, acting thus as catalysts in bringing about 60 villages.
positive change and also learning in the process. We currently Environmental initiatives reach to around
have 25 volunteering chapters, 13 in India and 12 overseas. 2,000 waste workers in Bangalore.
Employees are keen participants in the ongoing causes such as
education for underprivileged children, children with disabilities, The education program reaches out
biodiversity and environment, animal care, old age home, and to more than 65,000 children from
feeding the poor and homeless, amongst others causes. We also disadvantaged communities in 8 cities.
have employees join volunteering efforts across Asia Pacific, Our Education of children with disability
Japan, USA, Philippines, Romania and Continental Europe. projects supports the educational
and rehabilitative needs of over 2,500
Wipro South Africa Initiatives underprivileged children through 12
projects.
As an IT company operating in South Africa, Wipros CSR strategy
in South Africa is aligned to the Broad-Based Black Economic Our most recent long term rehabilitation
Empowerment (BBBEE) Codes of Good Practice, particularly program is in the state of Uttarakhand.
the ICT Charter for responsible corporate citizenship. The
primary purpose of BBBEE is to address the legacy of apartheid ECOLOGICAL SUSTAINABILITY
policies and enhance the economic participation of previously
disadvantaged people in the South African economy. The codes (NATURAL CAPITAL)
include elements on ownership, management control (MC), skills
development (SD), enterprise and supplier development (ESD) Ecological sustainability is a cornerstone of our charter on
& socio-economic development (SED). natural capital stewardship. Our approach is built on the pillars
of Energy and Green House Gases (GHG) mitigation, Water

Wipro Limited 57
efficiency and Responsible Water management, Pollution and 3. Scope 1+2 GHG emission intensity on Floor Area (FAR) basis
Waste management and Biodiversity. - Cumulative reduction of 33 % in GHG intensity from 140
Kg / Sq. Mt (kpsm) to 94 kpsm of CO eq
The increasing centrality of issues like climate change and water
stress in the last few years has led organizations to look beyond 4. Renewable Energy - Doubling renewable energy
their boundaries. While internal business drivers like resource procurement of 65 Million units as on 2014-15 to a target
efficiency, waste management and pollution mitigation have of 135 Million units in 2019-20.
been the primary levers of any corporate environmental
program for many now, organizations have come to realize that For Energy Efficiency, in line with industry standards, we
in order to make a real impact at a larger, systemic level, one can are shifting from Per Employee based metrics to Floor Area
no longer ignore the externalized costs of ecological damage. (FAR) based metrics. The accepted standard is EPI or Energy
At Wipro, our community programs on water and waste are two Performance Indicator which is equivalent to Energy Per Unit
examples of such interventions. of Floor Area for a defined number of working hours per day.

Scope of Reporting We have deliberately not set a Carbon Neutral goal or an offset
program for reducing Scope 1 and 2 emissions due to the
India: All 61 locations, the majority of operations are from externalities involved in most alternatives like embedded carbon
23 owned locations including 3 data centers operational, and water footprint, land use change and broader ecological
representing 80% of our workforce. and social sustainability issues involved in such programs. For
Overseas: 139 locations, which includes 7 customer data centers. example, mass afforestation of a single species over a large
A majority of the office locations overseas are leased. area may help achieve a carbon reduction goal but have a
high negative impact on water sustainability, biodiversity and
Management system livelihoods.
Our programs and management systems are pivoted and derived Energy Consumption: The total energy consumption, electricity
from the Ecological Sustainability Commitment, available at and back-up diesel generated, for office spaces across all global
http://wipro.org/resource/Ecological_Sustainability_Policy. operations in IT is 322 Mn Units (India adds to 299 Mn units).
pdf . We have been following the guidelines of the ISO Data centers, India and overseas (USA and Germany) contribute
14001 framework for more than a decade now as one of the to another 92 Mn units.
cornerstones of our Environmental Management System (EMS).
18 of our campus sites in India and 2 in Australia are certified to Office Space Energy Metrics: Energy efficiency measures
the standards of ISO 14001:2004. contributed to a 3.7% decrease in office space energy intensity
from 195 to 189 units per sq. meter per annum. This is primarily
Energy Efficiency & GHG Mitigation from energy optimization measures, retrofit of older equipment
In our set of goals which ended in 2015, we aimed to reduce our with more energy efficient equipment and consolidation of
Scope 1 and Scope 2 people-based emissions intensity figures operations accompanied by a transition from leased to owned
by half from the 2010 baseline. This financial year, we undertook facilities with the resulting increase in overall utilization of office
a target setting exercise to propose targets running from the space and better quality of maintenance operations.
2015-16 to 2019-20. Over the last couple of years, different Emissions Intensity: Our India office space emissions intensity
frameworks have evolved for setting GERTs (GHG Emissions (Scope 1 and Scope 2) is at 116 Kg Co2 eq. per Sq. Mt. per annum,
Reduction Target). Once such framework is the science based a decrease of 10.8% from last year.
target setting from WRI (World Resource Institute) that tries to
align itself with the 2 degree imperative i.e. global emissions by Absolute Emissions: The dashboard in page no. 59 provides a
2050 to be 20% of 1990 levels so as to stay within the threshold summary of our Global and India GHG emissions for Office spaces
of 2 degree rise in average surface temperature. from Scope 1 (emission from direct energy consumption, like
fuel) and Scope 2 (emissions from purchased electricity). The
While we have studied and incorporated the WRI framework figures are net emissions for all years, after considering zero
to the extent that is relevant, our methodology has also been emissions for renewable energy procured. The absolute Scope
driven by empirical considerations that are more pertinent to 1 and 2 emissions for 2015-16 has decreased by around 5%
the IT industry sector and to India. We have adopted targets for primarily due to higher share of renewable energy procurement.
2025 and 2030 also and these will be revisited at the next target
review exercise in 2020. GHG Mitigation: Our five year GHG mitigation consists of
three key elements Energy Efficiency, Renewable Energy (RE)
Energy and GHG Emissions Goals:
Purchase and Captive RE; of this, RE procurement will contribute
1. Absolute Scope 1+2 GHG emissions - Absolute emissions the maximum, 80% share to GHG emission mitigation strategy.
reduction of around 35000 tons.
2. Energy Intensity in terms of EPI - Cumulative reduction of
11% in EPI over 5 years

58 Annual Report 2015-16

 like us has been through direct power purchase agreement
GHG Scope 1 and 2 from producers in select states. Each state in India has its
(Tons of CO2 eq.) own mechanism on effecting access to open access- either
269,117 due to distribution companys finances or infrastructure not
270,000
being in place to enable large scale evacuation and storage
260,000 256,244 of renewable power. This has led to a gap in meeting our
254,072 253,640 renewables targets. It can be said that it will take a few
250,000
244,444 242,062 years before the market matures. In order to avoid double
accounting, we have taken adequate steps by including
240,000
non-tradability of Renewable Energy Certificate (REC)
230,000 for contracted power through contracts and including
verification of generation in the regulators national REC
220,000 registry.
2013-14 2014-15 2015-16
Captive RE: The pilot rooftop Solar PV installations at 3
Global India
of our campuses followed by extensive use of solar water
heaters in our guest blocks and cafeterias have resulted in
Energy Efficiency: Over the preceding five year period, equivalent savings of 1.3 Mn units of grid electricity.
we have implemented a variety of energy efficiency
measures. We were one of the early adopters of Green Scope 3 Emissions: A summary of our Scope 3 emissions
Building Design with 18 of our current buildings certified (other indirect sources) is provided below. Out of the 15
to the international LEED standard (Silver, Gold, and categories of scope 3 reporting as per the new GHG corporate
Platinum). value chain standard, we are presently reporting on all of the 8
applicable categories.
Since 2007, we have been working on a server
rationalization and virtualization program, through The Scope 3 graph only includes emissions from Business
which we have decommissioned old physical servers Travel, Commute, Waste and Logistics to enable year on year
and replaced the processing capacity with virtualization comparison
technology on fewer numbers of servers. As of March
2016, we have 2088 virtual servers running on 147 Scope 3 Global
physical servers contributing to an energy savings of Tons (CO2 eq.)
approximately 9 Million units annually, an increase of 3% 300,000
over the previous year. 278,265

250,000 245,073

195,363
200,000
RE procurement: For the reporting period of 2015-
16, we procured 75 Mn units of Renewable energy 150,000
through PPAs (Power Purchase agreements) with private
producers, which contributed to approximately 23% of 100,000
our total India energy consumption. However this fell
50,000
short of our target of 82 Mn units for the reporting year. 2013-14 2014-15 2015-16
The mainstay of accessing RE for open access consumers

Wipro Limited 59
The table below shows the applicability and across our operations for the major Scope 3 categories.

Scope 3 Emissions Applicability Current Reporting, Coverage within IT business

Category
Upstream scope 3 emissions
Purchased goods and services Yes Based on purchase ledger for 2014-15 and application of econometric input-
Capital Goods output model for different categories and business activities: 38,416 tons of CO2
equivalent.
Fuel- and energy-related Yes Well To Tank (WTT) and Transmission and Distribution (T&D) losses globally is
activities (not included in 99,479 tons of CO2 equiv.
scope 1 or scope 2)
Upstream transportation and Yes Not Reported, as not material
distribution
Waste generated in operations Yes For India operations, which represents nearly 85% of footprint
Employee commuting Yes For India operations, which represents nearly 85% of footprint
Business travel Yes Includes air, conveyance and hotel stays. Bus and train data (minor) will be
calculated and updated by July 2016.
Upstream leased assets Yes This is reported under Scope 1 & 2
(Leased office space)
Downstream scope 3 No No product business, leased assets, franchisees or equity investments with
emissions environmental impact

The overall emissions across all scopes is 672,502 tons. personal device connectivity through the BYOD initiative
This does not include conveyance claims and some other (Bring Your Own Devices) are steps in enabling more flexible
minor scope 3 heads. Within this, the three big contributors work place options.
to our GHG emissions are: Electricity Purchased and
Generated (32%), Business Travel (26%), Employee Commute Collaborative engagements:
(15%) and Upstream fuel and energy emissions (15%).
As a member of the Indo-US joint research program - the Solar
Business Travel: The IT services outsourcing model require Energy Research Institute for India and the United States
frequent travel to customer locations, mainly overseas, across (SERIIUS), we are supporting a long term program Design
the delivery life cycle and contributes to around a quarter of and development of smart micro-grid technologies for large
our overall emissions footprint. This includes air, bus, train, scale decentralized solar power applications in Indian villages
local conveyance and hotel stays. Policies on usage of different - The Zero Energy Village concept. As a member of the TERI-
modes of travel based on distance and time taken, need BCSD (Business Council for Sustainable Development) India
and budget-based travel approval and increasing focus on program, we participated in the program track on Energy
processes which enable remote working and collaboration Efficiency that seeks to advance best practices on energy
are some of the cost and process optimization measures management and efficiency in different industry sectors
implemented over past few years.
We also coordinated the CEO forum on Climate Change as
Employee Commute: Employees have various choices for part of COP-21 in Paris and our CEO was one of the co-authors
commuting informed primarily by distance, flexibility, work of an article on climate change. We are signatories to the Paris
timings, costs, city infrastructure and connectivity in the case Pledge on Carbon Emissions through the World Economic
of group or public transport. In addition to company arranged Forum.
transport (37%), employees utilize public transport (~-45%),
with owned cars and two wheelers accounting for the balance. Water Efficiency and Responsible Use
Over the past few years, we have taken steps to facilitate a shift
towards improved access to public transport for employees
(buses, commuter trains), carpooling, apart from encouraging At Wipro, we view water from the three inter-related lens of
cycling to work through an active cycling community in the Conservation, Responsibility and Security; our articulated
organization. goals are therefore predicated on these three dimensions.
IT led soft infrastructure enablers like anytime direct
connectivity access to office intranet applications, secure

60 Annual Report 2015-16

Goals water supplied by the municipal bodies and the industrial
Water Efficiency - Improve water efficiency (fresh water association are in turn sourced primarily from river or lake
use per employee) by 5% year on year systems. Water that is purchased from private sources can be
traced to have been primarily extracted from ground water.
Water Responsibility - To ensure responsible water
management in proximate communities, especially in
Community Water Programs: Wipro partners with experts
locations that are prone to water scarcity
organizations, action groups and government bodies to
Water Security - Recognizing water availability as a address issues affecting the communities in the vicinity of our
business risk, to proactively assess and plan for the water organizations.
security of the organization in a manner that is congruent
with other two goals. Participatory Ground Water Mapping Program (PGWM):
Freshwater recycling and efficiency: The per employee water
Ground water is a primary source of water in Bengaluru,
consumption for the reporting year is 1.295 m3 per month
especially for peripheral areas of the city which are not
as compared to 1.36 in 2014-15, an improvement of around
connected to the city municipal supply (BWSSB). Around
4.78%. We recycle 884,245 m3 of water in 27 of our major
40-50% of total water requirement of the city is met through
locations (959,620 in 2014-15) using Sewage Treatment Plants
ground water, which is largely unregulated. It is a scarce
(STPs), which represents 32% (35% in 2014-15) of the total
resource and many areas including the South east areas
water consumed. The percentage of this recycled water as a
(Electronics City- Sarjapur-Bellandur-Whitefield corridor) are
percentage of freshwater extracted is around 52%. We have
severely stressed. There is a high reliance on private supply
recently commissioned ultra-filtration and RO units for STP
(tanker) of water, the source of which is again mostly ground
treated water at three of our locations. Harvested rainwater
water. Ground water being a shared common pool resource,
contributes to nearly 2% of our total freshwater consumption
the governance choices are complex from unregulated to
which we intend to scale to around 5% in the next couple
centralised responses to community centered management.
of years. We continue to focus on demand side optimization
measures though efficiency and better operational governance.
As part of our Responsible Water program, we aim to create a
community centered participatory approach for management
Sourcing of Water: Water is withdrawn from four sources -
of ground water and lakes in the area. This involves developing
ground water, municipal water supplies, private purchase and
an understanding of the hydrogeology of the watershed area
harvested rain water with the first two sources accounting for
and specific clusters and community engagement through
nearly 57% of the sourced water. The majority of the balance
development of communication materials and advocacy.
41% is from private sources near our operational facilities. The
Ground water science for community action

PARTICITPATORY GROUND WATER MAPPING PROGRAM

Hydrgeology Social Platform

Develop scientific Creating communication Citizen centered interactive

understanding of aquifers in an material for different online website
urban context watershed stakeholders

Protocols for interpretation Curating multi-stakeholder Knowledge portal for wider

and action engagements (government, advocacy
citizens, acdemia)

Karnataka State Water Network (KSWN) and scale among groups with common interest to be a force
multiplier. The network has conducted 5 Curated programmes
The Karnataka State Water Network (KSWN) was launched in and 2 annual conferences till date, where representatives from
2014 by Wipro in partnership with the CII-Karnataka. KSWN 6 geographical clusters and one theme based cluster around
is an Industry outreach that brings Businesses, Government, Lakes have come together towards the creation of Water
Academia and Communities on a common platform to address Sustainable Zones and restoration of Lakes in Bengaluru. A
water challenges. The purpose of KSWN is to create synergies Water Sustainable Zone is a geographic area that is partially or

Wipro Limited 61
fully self-sufficient with respect to its water requirements i.e., its procedures and recycler requirements for electronic end of
water foot-print does not substantially exceed its geographic life enable better traceability and disclosure of downstream
boundaries. The network is now working to incorporate itself recycler practices. We would work with our partners and
as a society with a strong governance framework, scale up its vendors in driving better practices and behaviors keeping in
activities for larger impact, and engage with Government to mind both human and ecological impacts of any changes.
inform policy. We monitor diesel generator stack emissions (NOx, Sox and
SPM) and indoor air quality (CO, CO2, VOCs, RSPM are the key
Pollution and Waste Management: parameters) across locations every month. These meet the
Pollution of air and water poses one of the most serious threats specified regulatory norms.
to community health and welfare. Our waste management Waste Handling Summary
strategies are centered on either (i) recycling the waste for
Landfill, 5.71%
further use or (ii) arranging for safe disposal. To operationalize
our strategy, we follow robust processes of segregating waste Incineration, 2.25%
into organic, inorganic, e-waste, hazardous, packaging, and Recycled-External,
biomedical and other categories, which is then either recycled 9.83%
in-house or through outsourced vendor arrangements.
92% of the total solid waste (up from 90% in 2014-15) of
6,368 tons generated from our IT India operations is reused or
recycled through both, in-house recycling units and through
authorized vendor tie-ups. The balance, which is largely
mixed solid waste, construction debris and some categories
of inorganic waste is landfilled. Our plan is to reduce Mixed
Solid Waste (MSW) generation at source and further drive
segregation into recyclable organic-inorganic to increase
diversion from landfills.
Recycled
We are also piloting recycling options for certain categories Internal 82.21%
like Thermocol and construction debris. The revised operating

Goals Updates

100% of organic waste to be handled in- Organic Waste Converters (OWC)s commissioned in all owned locations.
house in all owned locations 90% of organic waste is being handled in-house.
Bio-gas currently operational in 3 locations and being evaluated for 3 other
locations.

100% of paper, cardboard, hazardous and 100% of waste is handled as per approved methods
e-waste, mixed metals/scrap and plastics Internal audits are done as part of EHS
to be recycled/ handled as per approved
methods

Mixed solid waste and landfill intensity to MSW:

reduce by 50% by 2016-17 with 2013-14 as Baseline of 2013-14 is 3.26 Kg per employee per annum
the baseline year Target of 2016-17 is 1.60 Kg per employee per annum
Actuals as of 2015-16 is 1.93 Kg per employee per annum
Landfill Intensity:
Baseline of 2013-14 is 3.12 Kg per employee per annum
Target of 2016-17 is 1.56 Kg per employee per annum
Actuals as of 2015-16 is 3.04 Kg per employee per annum

E-waste audit recommendations to be Modified Operational Control Procedures (OCP) and e-waste recycler
actioned. requirements being rolled out in FY2017 Q1.

Construction and Demolition Debris 116 tons of C&D waste across locations is now segregated and sent to
municipal authorized landfills. Alternative options being explored.

62 Annual Report 2015-16

In collaboration with InfoActiv, we helped create a platform in A work environment which integrates biodiverse and natural
the Electronic City Industrial area in Bangalore, India. This zone design principles has multiple intangible benefits for employees
hosts a significant majority of IT companies and is therefore a and visitors it helps build a larger sense of connectedness
source of sizable amounts of e-Waste. The platform will help and emphasizes values of sensitivity and our place in the
align common focus areas, opportunities and streamline the world around us. We regularly conduct photography, nature
journaling, walks and plantation activities for employees and
processes involved in the management of e-Waste from bulk
their children.
consumers. A common e-waste collection center has been
commissioned and regular end of life electronic material is Our participation in advocacy on biodiversity issues was
being collected. Apart from this, we continued to be part of through two national levels forums the CII-India Business for
the sub-committee on Waste in the CII National Environment Biodiversity Initiative (IBBI) and the Leaders for Nature program
Committee. We supported the Reimagine Waste hackathon from the India chapter of International Union of Conservation
conducted at Indian Institute of Science, Bengaluru in Networks (IUCN). We chair CII-IBBIs southern chapter on
association with Waste Ventures and other partners. biodiversity for business. We also presented at the CII National
conference on biodiversity. We have been supporting the
We continually assess operational risks to the environment World Sparrow Day and the Wipro-Nature Forever Society
Sparrow Awards for the past five years.
and apply the precautionary principle in our approach to
gain insights and plan for example, the responsible water
program and waste life cycle audits. In the reporting period, Wipros Natural Capital Valuation Program
there were no instances of environmental fines imposed or An update
negative consequences reported due to our operations. We
proactively monitor regulatory compliances with respect to air,
water and waste and the emissions and waste generated by Natural capital can be defined as the worlds stocks of natural
resources which make human life possible. Businesses rely
the organization are based on updated and approved consents
on this natural capital to produce goods and deliver services.
as on date from respective State and Central Pollution control They depend on natural non-renewable resources (for
boards. We proactively respond to queries and clarifications example, fossil fuels and minerals) as well as natural renewable
received by regulatory bodies. ecosystem goods and services (for example, freshwater and
pollination). Businesses also rely on natural capital for its
Biodiversity ability to absorb by-products of production such as pollution
and water. Business extraction and production activities can
As an organization with large campuses in urban settings, damage natural capital with long term economic and social
we are acutely conscious of our responsibility towards urban consequences.
diversity and have set for ourselves the following goals.
To convert five of our existing campuses to biodiversity These economic and social consequences manifest themselves
zones by 2017 as physical, regulatory and reputational risks for companies.
One of the most useful ways for companies to account for
All new campuses will incorporate biodiversity principles
these risks is to quantify and value the environmental impacts
into their design
generated across their value chains in monetary terms.
In our approach towards campus biodiversity, our program
takes an integrated approach towards the contribution in Traditional single parameter environmental metrics such
reducing energy and carbon intensity, improving water as cubic meters of water or hectares of land provide an
retention and ambient air quality. Our first flagship project indication of the scale of dependency on ecosystem goods
in the Electronic City campus in Bangalore was initiated 5 and services or environmental impacts. However, they often
years back with the first phase of a unique Butterfly Park now fail to identify optimization opportunities for business. Natural
completed. Our next phase includes an innovatively conceived capital valuation, on the other hand, provides a deeper insight
wetland biodiversity zone that will use recycled water. because it factors scale alongside critical environmental
parameters such as regional water scarcity and the ecosystem
We have completed the first phase of work on biodiversity services provided by land.
retrofit projects at our two campuses in Pune with a rigorous
and continuing assessment of seasonal census of flora and There are several global and national government-led projects
fauna biodiversity. This project envisages five thematic gardens underway which aim to develop environmental accounts
aesthetic and palm garden, spring garden, Ficus garden, spice and integrate them with traditional national accounts (GDP)
and fruit garden through plantations of native species from including India. UN Principle of Responsible Investing (UNPRI),
the local geography. For one campus in Pune, the total number in 2010, estimated the environmental costs due to activities
of native species has nearly trebled from 59 to 242. In all these of top 3,000 companies at US$ 6 Trillion per year. The Natural
programs we work closely with expert partners in biodiversity, Capital Coalition (NCC), for example, is developing a Natural
conservation, ecological design and communications. Capital Protocol to provide a standardized approach to natural
capital accounting and valuation for businesses.

Wipro Limited 63
Wipro, in association with Trucost (UK), has completed a Value Chain Split (in INR Mn.)
natural capital valuation exercise for the previous two financial
year 2013-14 and 2014-15. The valuation for 2015-16 will be
completed by August 2016 however the trends are unlikely Value Chain 2014-15 2013-14 % YOY
to be significantly different. The valuation looks at our global INR Million valuation valuation Change
operational footprint - from energy related emissions, water
consumption, air/water pollution, waste generation and, land Operational 3,580 3,622 -1%
use change, business travel, employee commute as well as Supply Chain 792 1,127 -30%
from the embedded natural capital in all goods and services purchased goods
that we procure from our supply chain. and services
The natural capital embedded in goods and services is primarily Supply Chain Fuel 3,196 2,799 14%
based on valuation methodology that is based on Trucosts and energy -related
econometric Input-Output model which takes in spend across activities
different sub-categories of procurement. Monetization of Supply chain 1,249 892 40%
impacts is based on models and a selection of global and local Business travel
factors - hence certain assumptions and accounting rules are
inherent to the exercise. Supply chain 1,258 1,036 21%
Employee
The total environmental costs relating to Wipros operations commuting
and supply chain was estimated at INR 10,075 million for the Total 10,075 9,478 6%
fiscal year 2014-15. The largest contributions (see first chart)
came from GHG emissions (51%), water abstraction and
pollution (25%) and air pollution (20%). The second chart
below shows the breakdown in environmental costs across
each value chain stage. The operational value chain stage
accounted for 36% of Wipros total environmental cost. From a
geography perspective, as expected, India accounts for 82% of
the overall environmental cost.

The above figures are net of our positive valuation that

are attributable to our environmental initiatives. Wipros
environmental initiatives such as emissions reduction activities,
renewable energy procurement and water recycling reduced
its overall environmental costs by INR 884 million (9% of the
total 2014-15 environmental costs).

For Wipro, this study provides useful indicators to understand

impacts and assess the value of our environmental programs.
For external stakeholders like customers and analysts, these
data points provide a completely transparent full life-cycle
understanding of our environmental footprint.

Environmental Indicator Valuation - in INR Mn. and percentage

200 170
2% 2%

2,049
20%

5,108
51%

772
8%

1,775
17%

Greenhouse Gases Water Consumption Water Pollution

Air Pollution Land use change Waste

64 Annual Report 2015-16

 BOARDS
REPORT
On behalf of the Board of Directors (the Board), it gives me great * profit for the standalone results is after considering a
pleasure to present the 70th Boards Report of your Company, loss of 523 Million (2015: Profit of 390 million) relating
along with the Balance Sheet, Profit and Loss account and Cash to changes in fair value of forward contracts designated
Flow statements, for the financial year ended March 31, 2016. as hedges of net investment in non-integral foreign
I. Financial Performance operations, translation of foreign currency borrowings
On a consolidated basis, our sales increased to 512,478 and changes in fair value of related cross currency swaps
million for the current year as against 469,510 million in together designated as hedges of net investment in non-
the previous year, recording a growth of 9.15%. Our net integral foreign operations. In the Consolidated Accounts,
profits increased to 89,597 million for the current year as these are considered as hedges of net investment in
against 86,609 million in the previous year, recording a non-integral foreign operations and are recognized directly
growth of 3.45%. in shareholders fund.
On a standalone basis, our sales increased to 446,846
million for the current year as against 412,098 million Dividend
in the previous year, recording a growth of 8.43%. Our Your Directors recommend a final dividend of 1/- per
net profits remained largely stable for the current year as equity share of face value of 2/- each to be appropriated
against the net profits of the previous year. from the profits of the Company for the financial year
The standalone financial statements prepared in 2015-16, subject to the approval of the shareholders at the
accordance with Indian GAAP and consolidated financial ensuing Annual General Meeting.
statements prepared in accordance with Indian GAAP as
well as IFRS for the financial year ended March 31, 2016 Pursuant to the approval of the Board on January 18, 2016,
forms part of this Annual Report. Key highlights of financial your Company distributed an interim dividend of 5/- per
performance of your Company for the financial year equity share of face value of 2/- each, to shareholders
2015-16 are provided below: who were on the register of members as on closing hours
(` in Millions) of January 27, 2016, being the record date fixed for this
Standalone Consolidated purpose.
2015-16 2014-15 2015-16 2014-15
Sales and Other Income 474,561 437,088 540,965 494,007 The total dividend for the year ended March 31, 2016 would
Profit before Tax 104,821 105,570 115,247 112,241 accordingly be 6/- per equity share of face value of 2/- each.
Provision for Tax 23,831 23,639 25,158 25,101
Minority Interest - - (492) (531) During the year 2015-16, unclaimed Dividend for financial
Net profit for the year* 80,990 81,931 89,597 86,609 year 2007-08 of 5,094,480/- was transferred to the Investor
Appropriations Education and Protection Fund, as required under the
Interim Dividend 12,352 12,353 12,278 12,276 Investor Education and Protection Fund (Awareness and
Proposed Dividend on Protection of Investor) Rules, 2001.
equity shares 2,471 17,283 2,456 17,179
Corporate tax on Buyback of Equity Shares
distributed dividend 3,085 5,924 3,085 5,924
On April 20, 2016, the Board approved a proposal to
Transfer to General Reserve - 8,193 - 8,193
EPS buyback up to 4,00,00,000 equity shares of the Company
Basic 32.97 33.38 36.47 35.28 for an aggregate amount not exceeding 25,00,00,00,000,
Diluted 32.91 33.28 36.40 35.18 being 1.62% of the total paid up equity share capital, at
625 per equity share. The buyback is proposed to be

Wipro Limited 65
 made from all existing shareholders of the Company on which was earlier a subsidiary of Wipro LLC, has now
May 6, 2016, being the record date for the buyback, on become a subsidiary of Wipro Gallagher Solutions Inc.
a proportionate basis under the tender offer route in
Share Capital
accordance with the provisions contained in the Securities
and Exchange Board of India (Buy Back of Securities) During the year 2015-16, the Company allotted 16,70,252
Regulations, 1998 and the Companies Act, 2013 and rules equity shares of 2 each pursuant to exercise of stock
made thereunder. options. Consequently, the paid up equity share capital
Transfer to Reserves of the Company stood at 4,94,14,26,580 consisting of
2,47,07,13,290 equity shares of 2 each.
Appropriations to general reserve for the financial year
ended March 31, 2016 as per standalone and consolidated During the year under review, the Company has not issued
financial statements are as under: shares with differential voting rights and sweat equity
` In millions shares.
Particulars of Loans, Advances, Guarantees and
Standalone Consolidated Investments
Net profit for the year 80,990 89,597
Pursuant to section 186 of Companies Act, 2013 and
Balance of Reserves at the 341,279 365,983
Schedule V of the Securities and Exchange Board of
beginning of the year
India (Listing Obligations and Disclosure Requirements)
Transfer to General Reserve - - Regulations, 2015 (Listing Regulations), disclosure
Balance of Reserves at the 404,111 441,945 on particulars relating to Loans, advances, guarantees
end of the year and investments are provided as part of the financial
statements.
Subsidiary Companies
Deposits
In accordance with Section 129(3) of the Companies
Act, 2013, a statement containing salient features of the Your Company has not accepted any deposits from public
financial statements of the subsidiary companies in Form and as such, no amount on account of principal or interest
AOC-1 is provided at pages 214-215 of this Annual Report. on public deposits was outstanding as on the date of the
balance sheet.
In accordance with third proviso to Section 136(1) of
the Companies Act, 2013, the Annual Report of your II. Business
Company, containing inter alia the audited standalone
and consolidated financial statements, has been placed Your Company is one of the leading providers of IT
on the website of the Company at www.wipro.com. Services globally. Your Company combines the business
Further, audited financial statements together with related knowledge and industry expertise of its domain specialists
information and other reports of each of the subsidiary and the technical knowledge and implementation skills
companies have also been placed on the website of the of its delivery team leveraging its products, platforms,
Company at www.wipro.com. partnerships and solutions in its development centers
located around the world.
During the financial year 2015-16, your Company invested
an aggregate of 3,207 million in its direct subsidiaries. Your Company develops and integrates Innovative
Apart from this, your Company funded its subsidiaries, Solutions that enable its clients to leverage IT to achieve
from time to time, as per the fund requirements, through their business objectives at competitive costs. Your
loans, guarantees and other means to meet working capital Company uses quality processes and global talent pool to
requirements. deliver time to development advantages, cost savings
and productivity improvements.
During the year 2015-16, Wipro Technologies Spain
S.L., a non-operational entity, was liquidated. Wipro Your Companys IT Services business provides a range of
Promax Holdings Pty Ltd and Wipro Promax IP Pty Ltd, IT and IT-enabled services which include Digital Strategy
non-operational entities, applied for de-registration as Advisory, Customer Centric Design, Technology Consulting,
at March 31, 2016. Also, during the year, Wipro Europe IT Consulting, Custom Application Design, Development,
SARL and SAS Wipro France were merged with New Re-Engineering and Maintenance, Systems Integration,
Logic Technologies SARL, France. Further, to enhance Package Implementation, Global Infrastructure Services,
operational and financial efficiencies, Data Centre Analytics Services, Business Process Services, Research
Services Operations Business of Infocrossing Inc., was and Development and Hardware and Software Design
transferred to Wipro Data Centre & Cloud Services, Inc., to Leading Enterprises Worldwide. Your Companys
a wholly-owned subsidiary of Wipro LLC. Consequent to vision is To earn our Clients trust and maximize value
re-organization, Wipro Promax Analytics Solutions LLC, of their businesses by providing solutions that integrate

66 Annual Report 2015-16

 deep industry insights, leading technologies and best experiences; Cellent AG, a leading IT Consulting and
in class execution. The markets that your Company Software Services company offering holistic IT solutions
serves are undergoing rapid changes due to the pace and services; and HPH Holdings Corporation (HealthPlan
of developments in technology, innovation in business Services), a leading technology and process as a service
models and changes in the sourcing strategies of clients. provider in the US Health Insurance market.
Pressures on cost-competitiveness and an uncertain
In December 2015, your Company entered into an
economic environment are causing clients to develop
agreement to acquire Viteos Group, a Business Process as
newer business models. On the technology front, Digital
a Service (BPaaS) provider for the alternative investment
Business has changed the nature of demand for IT services.
management industry for a purchase consideration of USD
Development of advanced technologies such as Cloud
130 million. The acquisition is subject to customary closing
Based Offerings, Big Data Analytics, Mobile Applications
conditions and regulatory approvals.
and the Emergence of Social Media are shifting the
point of decision-making on IT sourcing within clients As part of a start-up engagement model, your Company has
organization from the traditional Chief Information Officer invested in building a world class ecosystem through a US$
to newer stakeholders such as Chief Marketing Officer, 100 million internal venture capital fund, Wipro Ventures,
Chief Digital Officer, Chief Risk Officer etc. These trends aimed at investing in cutting edge start-ups in areas such
on newer business models, emerging technologies and as Digital, Internet of Things (IoT), Big data, Open source,
sourcing patterns are expected to provide Your Company Cybersecurity and Artificial Intelligence (AI). In 2015-16,
with significant growth opportunities. Wipro Ventures has seen strong traction and scale. Your
Company has made 6 investments with a cumulative
Your Companys IT Products segment provides a range
spend of US$ 15 million and a further committed spend
of third-party IT products, which allows it to offer
of US$ 5 million in FY16 in start-ups working in Big Data
comprehensive IT System Integration Services. These
and Analytics, Artificial Intelligence, the Internet of Things,
products include Computing, Platforms and Storage,
Mobility, Cloud Infra, Fintech and Security technologies
Networking Solutions, Enterprise Information Security,
that are reshaping the future of enterprises.
and software products, including databases and operating
systems. Your Company has a diverse range of clients, Key Awards and Recognitions During the Year
primarily in the India and Middle East markets from small
Your Company is one of the most admired and recognized
and medium enterprises (SMEs) to large enterprises in all
companies in the IT industry. During the year, your
major industries.
Company won several awards and accolades, out of which
Outlook key recognitions are given below:
According to Strategic Review 2016 of the National 1. Wipro was recognized as a 2016 Worlds Most
Association of Software and Service (NASSCOM), in FY16, Ethical Company for the fifth successive year by the
IT export revenues from India grew by 12.3% in constant Ethisphere Institute, the global leader in defining and
currency, to an estimated $108 billion. NASSCOM expects advancing the standards of ethical business practices.
FY17 export growth rates to be between 10% and 12%. 2. Wipro was awarded The ICSI National Award for
According to NASSCOM Perspective 2025: Shaping the Excellence in Corporate Governance for 2015 by the
Digital Revolution, the Indian technology and services Institute of Company Secretaries of India (ICSI).
industry is on track to reach $200 billion to $225 billion in
revenues by 2020, from a base of $143 billion in 2016, and 3. Wipro was awarded the NASSCOM Corporate Award
furthermore, to reach revenues of $350 billion by 2025. for Excellence in Diversity and Inclusion 2016, in the
category of Best Program for Excellence in Gender
Acquisitions and Investments Diversity for having institutionalized robust and
successful programs for driving and sustaining
Acquisitions are a key enabler in driving growth and
gender diversity initiatives, policies and processes.
building capability in industry domains, emerging
technology areas, Digital and increasing market footprint 4. Wipro has been recognized as a member of the global
in newer markets. Your Company focuses on opportunities Dow Jones Sustainability Index for the sixth year in
where it can further develop its domain expertise, specific succession.
skill sets and its Global Delivery Model to maximize service
Management Discussion and Analysis Report
and product enhancements and higher margins. Your
Company also uses its acquisition program to increase In terms of regulation 34 of the Listing Regulations, the
presence in select geographies, increase footprint in certain Management Discussion and Analysis report on your
large customers and pursue select business opportunities. Companys performance, industry trends and other
Key acquisitions consummated during the year ended material changes with respect to your Company and its
March 31, 2016 were Designit, a global strategic design firm subsidiaries, wherever applicable, are presented from
specializing in designing transformative product-services pages 24 to 64 of this Annual Report. The MD&A report

Wipro Limited 67
 provides a consolidated perspective of economic, social appointed as Independent Directors with effect from
and environmental aspects material to our strategy and our April 1, 2016.
ability to create and sustain value to our key stakeholders
Number of Meetings of the Board
and includes aspects of reporting as required by Regulation
34 of the Listing Regulations with Stock Exchange on The Board met six times during the financial year 2015-16 on
Business Responsibility Report. Therefore, no separate April 20, 2015, June 3, 2015, July 22-23, 2015, October 20-21,
section on Business Responsibility Report is published. 2015, January 4, 2016, and January 16-18, 2016. The maximum
interval between any two meetings did not exceed 120 days.
III. Governance and Ethics
Directors and Key Managerial Personnel
Corporate Governance
Your Company believes in adopting best practices of Pursuant to the recommendation of Board Governance,
corporate governance. Corporate governance principles Nomination and Compensation Committee, the Board at
are enshrined in the Spirit of Wipro, which form the its meeting held on April 20, 2015 approved, subject to
core values of Wipro. These guiding principles are also members approval, re-appointment of Mr. Azim H Premji
articulated through the Companys code of business as Executive Chairman and Managing Director from July
conduct, corporate governance guidelines, charter of 31, 2015 to July 30 2017 and appointment of Mr. Rishad
various sub-committees and disclosure policy. Premji as Wholetime Director for a period of 5 years with
effect from May 1, 2015. The aforesaid appointments were
As per regulation 34 of the Listing Regulations, a separate approved by the members at the 69th Annual General
section on corporate governance practices followed Meeting held on July 22, 2015.
by your Company, together with a certificate from V.
Sreedharan & Associates, Company Secretaries, on Pursuant to the recommendation of Board Governance,
compliance with corporate governance norms under the Nomination and Compensation Committee, the Board at
Listing Regulations, is given from page no. 109 onwards. its meeting held on January 4, 2016 approved, subject to
members approval, re-appointment of Mr. T K Kurien as
Board of Directors Executive Director designated as Executive Vice Chairman
Boards Composition and Independence from February 1, 2016 to March 31, 2017 and appointment
of Mr. Abidali Z Neemuchwala as Executive Director
Your Companys Board consists of global leaders and designated as Chief Executive Officer for a period of 5 years
visionaries who provide strategic direction and guidance with effect from February 1, 2016.
to the organization. As on March 31, 2016, the Board
comprised four executive directors and seven non- On March 11, 2016, Dr. Patrick J Ennis was appointed
executive Independent Directors. as an Additional Director, to serve on the Board as an
independent member effective April 1, 2016. Further,
Definition of Independence of Directors is derived from on March 29, 2016, Mr. Patrick Dupuis was appointed
regulation 16 of the Listing Regulations, NYSE Listed as an Additional Director, to serve on the Board as an
Company Manual and Section 149(6) of the Companies Act, independent member with effect from April 1, 2016.
2013. The Company has received necessary declarations
from the Independent Directors stating that they meet the At the 68th Annual General Meeting held on July 23, 2014,
prescribed criteria for independence. Mr. N Vaghul and Dr. Ashok S Ganguly were appointed as
Independent Directors to hold office up to July 31, 2016 and
Based on the confirmations/disclosures received from
Mr. M K Sharma was appointed as Independent Director to
the Directors under section 149(7) of the Companies Act
hold office up to June 30, 2016. Considering their immense
2013 and on evaluation of the relationships disclosed,
contributions to the Company and pursuant to the
the following Non-Executive Directors are considered as
recommendation of Board Governance, Nomination and
Independent Directors:
Compensation Committee, the Board at its meeting held
a) Mr. N Vaghul on April 20, 2016 appointed Mr. M K Sharma as Additional
Director with effect from July 1, 2016 and decided to place
b) Mr. M K Sharma
the proposal for re-appointment of Mr. N Vaghul and Dr.
c) Dr. Ashok S Ganguly Ashok S Ganguly as Independent Directors for a further
d) Dr. Jagdish N Sheth term of 3 years up to July 31, 2019 and Mr. M K Sharma as
Independent Director for a further term of 5 years up to
e) Ms. Ireena Vittal June 30, 2021, for approval of the members at the 70th
f) Mr. William Arthur Owens Annual General Meeting. The term of office of Dr. Jagdish
g) Mr. Vyomesh Joshi N Sheth expires on July 18, 2016.

Further, Dr. Patrick J Ennis and Mr. Patrick Dupuis were The Company has received separate notices under section

68 Annual Report 2015-16

 160 from members, along with the requisite deposit, Committee has framed a policy for selection and appointment
signifying their intention to propose appointment/re- of Directors including determining qualifications and
appointment of Mr. T K Kurien, Mr. Abidali Z Neemuchwala, independence of a Director, Key Managerial Personnel,
Dr. Patrick J Ennis, Mr. Patrick Dupuis, Mr. N Vaghul, Senior Management Personnel and their remuneration
Dr. Ashok S Ganguly and Mr. M K Sharma as mentioned as part of its charter and other matters provided under
in the preceding paragraphs. Accordingly, necessary Section 178(3) of the Companies Act, 2013. The policy
resolutions are being placed for approval of the members covering these requirements is provided in the Corporate
at the 70th Annual General Meeting of the Company. Governance report at page no. 111. We affirm that the
remuneration paid to Directors is as per the remuneration
Pursuant to provisions of section 152 and Articles of
policy of the Company.
Association of the Company, Mr. Rishad Premji will retire
by rotation at the 70th Annual General Meeting and being Vigil Mechanism
eligible, has offered himself for re-appointment.
In line with the requirements under Section 177(9) and (10)
Mr. Jatin P Dalal was appointed as the Chief Financial of the Companies Act, 2013 and regulation 22 of the Listing
Officer of the Company with effect from April 1, 2015 and Regulations, your Company has adopted an Ombuds
Mr. M Sanaulla Khan was appointed as the Company process which is a channel for receiving and redressing
Secretary of the Company with effect from June 3, 2015. complaints from employees and directors. Under this
policy, your Company encourages its employees to report
Committees of the Board
any reporting of fraudulent financial or other information
The Companys Board has the following committees: to the stakeholders, and any conduct that results in
violation of the Companys code of business conduct, to
1. Audit, Risk and Compliance Committee
the management (on an anonymous basis, if employees
2. Board Governance, Nomination and Compensation so desire).
Committee, also acts as CSR Committee
Likewise, under this policy, your Company has prohibited
3. Strategy Committee discrimination, retaliation or harassment of any kind
against any employees who, based on the employees
4. Administrative and Shareholders/Investors Grievance reasonable belief that such conduct or practice have
Committee (Stakeholders Relationship Committee) occurred or are occurring, reports that information or
Details of terms of reference of the Committees, participates in the investigation.
Committee membership and attendance at meetings of Mechanism followed under Ombuds process is
the Committees are provided in the Corporate Governance appropriately communicated within the Company across
report from page no. 113 onwards. all levels and has been displayed on the Companys intranet
Board Evaluation and website at www.wipro.com.

Pursuant to the provisions of the Companies Act, 2013 and The Audit, Risk and Compliance Committee periodically
the Listing Regulations, the Board is required to monitor reviews the functioning of this mechanism. No personnel
and review the Board evaluation framework. In line with the of the Company was denied access to the Audit, Risk &
Corporate Governance Guidelines, Annual Performance Compliance Committee.
Evaluation is conducted for all Board Members as well Related Party Transactions
as the working of the Board and its Committees. This
evaluation is led by the Chairman of the Board Governance, As a part of its philosophy of adhering to highest ethical
Nomination and Compensation Committee with specific standards, transparency and accountability, your Company
focus on the performance and effective functioning of the has historically adopted the practice of undertaking related
Board. The evaluation process also considers the time spent party transactions only in the ordinary and normal course
by each of the Board Member, core competencies, personal of business and at arms length. In line with the provisions
characteristics, accomplishment of specific responsibilities of the Companies Act, 2013 and the Listing Regulations, the
and expertise. The Board evaluation is conducted through Board has approved a policy on related party transactions.
questionnaire having qualitative parameters and feedback An abridged policy on related party transacations has been
based on ratings. The outcome of the Board evaluation placed on the Companys website.
for financial year 2015-16 was discussed by the Board
All Related Party Transactions are placed on a quarterly
Governance, Nomination and Compensation Committee
basis before the Audit, Risk and Compliance Committee
and the Board at their meeting held in April 2016.
and also before the Board for approval. Prior omnibus
Policy on Directors Appointment and Remuneration approval of the Audit, Risk and Compliance Committee is
obtained for the transactions which are of a foreseeable
The Board Governance, Nomination & Compensation and repetitive nature.

Wipro Limited 69
 The particulars of contracts or arrangements with related Statutory Compliance Policy and that such systems
parties referred to in section 188(1) and applicable rules and processes are operating effectively.
of the Companies Act, 2013 in Form AOC-2 is provided as
Wipro Employee Stock Option Plans (WESOP)/
Annexure I at page no. 74 of this Annual Report.
Restricted Stock Unit Plans
Compliance Management Framework
In order to motivate, incentivize and reward employees,
Your Company has a robust and effective framework your Company has instituted various employee stock
for monitoring compliances with applicable laws. The options plans/restricted stock unit plans from time to time.
Board has approved a Global Statutory Compliance Policy The Board Governance, Nomination and Compensation
providing guidance on broad categories of applicable laws Committee administers these plans. The stock option plans
and process for monitoring compliance. In furtherance to are in compliance with Securities and Exchange Board of
this, your Company has instituted an online compliance India (Share Based Employee Benefits) Regulations, 2014
management system within the organization to monitor (Employee Benefits Regulations) and there have been
compliances real-time and provide update to senior no material changes to these plans during the financial
management and Board on a periodic basis. The Audit, year. Disclosures on various plans, details of options
Risk and Compliance Committee and the Board periodically granted, shares allotted upon exercise, etc. as required
monitor status of compliances with applicable laws based under Employee Benefits Regulations read with Securities
on quarterly certification provided by senior management. and Exchange Board of India circular no. CIR/CFD/POLICY
CELL/2/2015 dated June 16, 2015 are available on the
Directors Responsibility Statement
Companys website at http://www.wipro.com/investors/
Your Directors hereby confirm that: financial-information/annual-reports/. No employee was
issued stock option during the year equal to or exceeding
(a) in the preparation of the annual accounts, the
1% of the issued capital of the Company at the time of
applicable accounting standards have been followed
grant.
along with proper explanation relating to material
departures; Wipro Equity Reward Trust (WERT) is an ESOP Trust set up by
your Company. Pursuant to approval by the shareholders at
(b) the Directors have selected such accounting policies
their meeting held in July 2014, the Company is authorized
and applied them consistently and made judgments
to transfer shares from the WERT to employees on exercise
and estimates that are reasonable and prudent so as
of vested Indian RSUs.
to give a true and fair view of the state of affairs of
the Company at the end of the financial year and of Particulars of Employees
the profit and loss of the Company for that period; Information required pursuant to Section 197 (12) of the
(c) the Directors have taken proper and sufficient care Companies Act, 2013 read with Rule 5(1) of The Companies
for the maintenance of adequate accounting records (Appointment and Remuneration of Managerial Personnel)
in accordance with the provisions of the Companies Rules, 2014 is provided as Annexure II to this report.
Act, 2013 for safeguarding the assets of the Company A statement containing, inter alia, names of employees
and for preventing and detecting fraud and other employed throughout the financial year and in receipt of
irregularities; remuneration of 60 lakhs or more, employees employed
(d) the Directors have prepared the annual accounts on for part of the year and in receipt of 5 lakhs or more per
a going concern basis; and month, pursuant to Rule 5(2) the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014 is
(e) the Directors, have laid down internal financial provided as Annexure III to this report.
controls to be followed by the Company and that such
internal financial controls are adequate and operating IV. Internal Financial Controls and Audit
effectively; Internal Financial Controls and their Adequacy
(f ) As required under Section 134(5)(f) of the Companies The Board of your Company has laid down internal financial
Act, 2013, and according to the information and controls to be followed by the Company and that such
explanations presented to us, based on the review internal financial controls are adequate and operating
done by the Audit, Risk and Compliance Committee effectively. Your Company has adopted policies and
and as recommended by it, we, the Board, hereby, procedures for ensuring the orderly and efficient conduct
state that adequate systems and processes, of its business, including adherence to the Companys
commensurate with the size of the Company and the policies, the safeguarding of its assets, the prevention
nature of its business, have been put in place by the and detection of frauds and errors, the accuracy and
Company, to ensure compliance with the provisions completeness of the accounting records, and the timely
of all applicable laws as per the Companys Global preparation of reliable financial disclosures.

70 Annual Report 2015-16

 Risk Management in Practice, to conduct Secretarial Audit of the Company.
The Report of the Secretarial Audit in Form MR-3 for
Given the diversified scale of operations, your Company
the financial year ended March 31, 2016 is enclosed at
has put in place an Enterprise Risk Management (ERM)
Annexure IV to the Report. There are no qualifications,
framework and adopted an enterprise risk management
reservations or adverse remarks made by the Secretarial
policy based on globally recognized standards. The
Auditor in his report.
ERM framework is administered by the Audit, Risk and
Compliance Committee. The objective of the ERM V. Social Responsibility and Sustainability
framework is to enable and support achievement of
Corporate Social Responsibility
business objectives through risk-intelligent assessment
while also placing significant focus on constantly Your Company is at the forefront of Corporate Social
identifying and mitigating risks within the business. Responsibility (CSR) and sustainability initiatives and
practices. Your Company believes in making lasting impact
Further details on the Companys risk management towards creating a just, equitable, humane and sustainable
framework is provided in the Management Discussion and society. Your Company has been involved with social
Analysis report. initiatives for more than decade and a half and engages
Statutory Auditors in various activities in the field of education, primary
healthcare and communities, ecology and environment,
Pursuant to the provisions of section 139 of the Companies etc. Your Company has won several awards and accolades
Act, 2013, an audit firm can act as auditors for a maximum for its CSR and sustainability efforts.
tenure of two terms of 5 consecutive years. For the purpose
of reckoning this limit, existing tenure of the auditors needs As per the provisions of the Companies Act, 2013,
to be counted. However, companies have been given a companies having net worth of 500 crore or more, or
transition time of 3 years from April 1, 2014 to comply with turnover of 1000 crore or more or net profit of 5 crore or
this provision. more during any financial year are required to constitute
a Corporate Social Responsibility (CSR) committee of the
Accordingly, the Companys auditors M/s BSR & Co. board comprising three or more directors, at least one
LLP, (Registration No.101248W/W-100022) Chartered of whom should be an independent director and such
Accountants, Bangalore, who retire at the ensuing Annual company shall spend at least 2% of the average net profits
General Meeting, may continue as statutory auditors for of the companys three immediately preceding financial
auditing financial statements for the financial year ending years. Accordingly, your Company spent 1,598 million
March 31, 2017. M/s BSR & Co. LLP have confirmed towards CSR activities during the financial year 2015-16.
their eligibility and willingness to accept office, if The contents of the CSR policy and CSR Report for the year
re-appointed. Based on the recommendation of Audit, 2015-16 is attached as Annexure V to this report. Contents
Risk and Compliance Committee, the Board has approved of the CSR policy is also available on the Companys website
the proposal for placing the matter of re-appointment of at http://www.wipro.com/investors/corporate-governance/
M/s BSR & Co. LLP as statutory auditors to conduct audit of policies-and-guidelines/.
financial statements for the financial year ending March 31, The terms of reference of CSR committee, framed in
2017 at the 70th Annual General Meeting. A resolution to accordance with Section 135 of the Companies Act,
that effect forms part of notice of the 70th Annual General 2013, forms part of Board Governance, Nomination and
Meeting sent along with this Annual Report. Compensation Committee. The Committee consists of
Auditors Report three independent directors, Dr. Ashok S Ganguly, Mr. N
Vaghul and Mr. William Arthur Owens, as its members. Dr.
There are no qualifications, reservations or adverse remarks Ashok S Ganguly is the Chairman of the Committee.
made by M/s BSR & Co. LLP, Statutory Auditors, in their
report for the financial year ended March 31, 2016. Particulars Regarding Conservation of Energy and
Research and Development and Technology Absorption
Pursuant to provisions of section 143(12) of the Companies
Details of steps taken by your Company to conserve energy
Act, 2013, the Statutory Auditors have not reported
through its Sustainability initiatives have been disclosed
any incident of fraud to the Audit, Risk and Compliance
as part of this Annual Report in Management Discussion
Committee during the year under review.
and Analysis Report.
Secretarial Audit
Your Companys Research and Development (R&D)
Pursuant to the provisions of Section 204 of the initiatives continue to focus on strengthening and
Companies Act, 2013 and the Companies (Appointment extending its portfolio of IT services across multiple new
and Remuneration of Managerial Personnel) Rules, 2014, and emerging technology areas as well as in the intersection
the Company has appointed Mr. V Sreedharan, Partner, M/s of these technologies. Your Company is investing in
V Sreedharan & Associates, a firm of Company Secretaries developing solutions and services around multiple

Wipro Limited 71
 advanced technology areas (commercial wearables, smart on niche projects to solve complex customer problems
robotics, autonomous vehicles, augmented reality, virtual involving Artificial Intelligence, Next Gen Architecture,
reality, etc.), co-innovating with customers on emerging Cognitive Systems etc. Your Companys academic and
themes (Digital), enabling new customer experiences, research partnerships exist across geographies.
building its patent portfolio, shaping innovation culture
Your Company is driving co-innovation with customers
by running a number of initiatives to support and fund
on emerging themes, conducting joint research, proof of
ideas and also by working closely with partner/startups concepts (POC), pilots etc. Some of the emerging areas
ecosystem, academia and expert networks to bring cutting include block chain, biometrics, new architectures and
edge innovations to its customers. smart devices.
Your Company has invested in these advanced technologies The innovation incubation center, Technovation Center
to strengthen existing capabilities and enhance its continues to play a key role in helping customers design,
platforms for rich customer experience. For example, conceptualize, and experience by leveraging future
Wipro Sight solution uses advanced computer vision of technologies, industry processes and consumer
based algorithms to analyze customer behavior in stores behavior. The Technovation Center has now evolved into
for delivering enhanced in-store retail experience. These an experience platform to demonstrate the Companys
investments have resulted in many solution enhancements solutions to its customers. Your Company has started
and new capabilities, which are unique and differentiated work on its new Technovation Center in Mountain View,
in the market. They have also led to multiple patents being California, USA, which would cater predominantly to US &
applied and granted. Your Company has filed for 514 Canada geography customers, when fully operational.
patents across technology areas in the last financial year.
Your Company is also building solutions around next
Your Company has extended the applicability of HOLMESTM generation robotics, drones and autonomous vehicles
(Wipros Artificial Intelligence platform) to multiple which combined with the computer vision and cognitive
domains and processes to offer verticalised solutions to capabilities can address various market needs across
its customers. industry verticals. Your Company is also working on
industrial and enterprise wearable solutions which help
Your Company has built a data discovery platform, which
improve work force productivity and safety requirements.
provides pertinent business insights across the value
Your Company has developed a video and sensor based
chain of an industry through pre-defined applications.
smart parking solution which is useful in a smart city
Leveraging techniques like visual sciences and story-
context to dynamically assess parking availability across
telling with data, the data discovery platform provides
locations, reservation and demand based pricing. Your
a unique value proposition around accelerating time to
Company has developed a smart healthcare solution called
market for insights resulting in better adoption of insight
Wipro AssureCareTM which helps track medication, vital
driven decision making. Built using best of breed open parameters and is used in elderly Care, home monitoring
source technologies, the data discovery platform leverages and clinical trials.
techniques like machine learning, natural language
processing, visualization, stream computing, etc. to bring The research and development expenses for the years
to the life the hidden insights in large and diverse data sets. ended March 31, 2016, 2015 and 2014 were 2,561 million,
2,513 million and 2,660 million respectively.
Your Company has also built a Big Data Ready Enterprise,
which is an open sourced big data product aimed at VI. Other Disclosures
addressing the complete lifecycle of managing data across Foreign Exchange Earnings and Outgoings
the enterprise data lake that makes it possible to ingest,
organize, enrich, process, analyze, govern and extract data During the year 2015-16, your Companys foreign exchange
at a fast pace, thereby significantly accelerating the big data earnings were 404,862 million and foreign exchange
implementation in a cost effective manner. The product is outgoings were 208,181 million as against ` 367,665 million
released under the Apache Public License v2.0 and hosted of Foreign Exchange earnings and ` 194,308 million of Foreign
Exchange outgoings for the financial year 2014-15.
on Github.
Extract of Annual Return
To drive open innovation efforts for its customers, Your
Company is driving many new age innovation initiatives Pursuant to section 92(3) and section 134(3)(a), extract of
through startups connects, hackathons, ideathons, etc. Your the Annual Return as on March 31, 2016 in form MGT-9 is
Company is part of various industry and startup forums enclosed as Annexure VI to this report.
including the NASSCOM Industry Partner Program (NIPP) Material Changes and Commitments Affecting the
that connects promising startups with corporates, to enable Financial Position of the Company
partnerships and growth. Your Company is working with
various open innovation intermediaries to tap into expert There have been no material changes and commitments,
networks across the world to complement our specialists affecting the financial position of the Company which

72 Annual Report 2015-16

 occurred during between the end of the financial year to Acknowledgements and Appreciation
which the financial statements relate and the date of this
Your Directors take this opportunity to thank the
report.
customers, shareholders, suppliers, bankers, business
Details of Significant and Material Orders Passed by partners/associates, financial institutions and Central
the regulators/Courts/Tribunals Impacting the Going and State Governments for their consistent support and
Concern Status and the Companys Operations in Future encouragement to the Company. I am sure you will join
our Directors in conveying our sincere appreciation to
There are no significant material orders passed by the
all employees of the Company and its subsidiaries and
Regulators/ Courts which would impact the going concern
associates for their hard work and commitment. Their
status of the Company and its future operations.
dedication and competence has ensured that the Company
Information Required Under Sexual Harassment of continues to be a significant and leading player in the IT
Women at Workplace (Prevention, Prohibition & Services industry.
Redressal) Act, 2014
Your Company has a policy and framework for employees
to report sexual harassment cases at workplace and the
process ensures complete anonymity and confidentiality
For and on behalf of the Board of Directors
of information. Adequate workshops and awareness
programmes against sexual harassment are conducted
across the organization. A total of 111 complaints of sexual
harassment were raised in the year 2015, of which 107
cases were disposed and appropriate actions were taken in Bangalore Azim H Premji
all cases within the statutory timelines. Further details are June 3, 2016 Chairman
provided on page no. 37 of the Annual Report.

Wipro Limited 73
74
Annexure I: Particulars of contracts / arrangements made with related parties
Form No. AOC-2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)
This Form pertains to the disclosure of particulars of contracts / arrangements entered into by the Company with related parties referred to in Sub-section (1) of Section 188 of the
Companies Act, 2013 including certain arms length transactions under third proviso thereto.
Details of contracts or arrangements or transactions not at arms length basis
There were no contracts or arrangements or transactions entered into during the year ended March 31, 2016, which were not at arms length basis.
Details of material contracts or arrangement or transactions at arms length basis
The details of material contracts or arrangement or transactions at arms length basis for the year ended March 31, 2016 are as follows:
Name of Related Party Nature of Relationship Duration of Contract Salient terms Amount
(` Mn)
Sales of Goods and services
Wipro LLC Subsidiary 01-04-05 - Ongoing As per Transfer Pricing guidelines 15,383
Wipro Technologies South Africa (Proprietary) Limited Subsidiary 01-04-12 - Ongoing As per Transfer Pricing guidelines 4,084
Wipro Networks Pte Ltd Subsidiary 01-04-14 - Ongoing As per Transfer Pricing guidelines 2,673
Infocrossing Inc Subsidiary 01-04-08 - Ongoing As per Transfer Pricing guidelines 876
Wipro Arabia Limited Subsidiary 23-12-06 - Ongoing As per Transfer Pricing guidelines 365
Wipro BPO Philippines Ltd. Inc Subsidiary 01-03-11 - Ongoing As per Transfer Pricing guidelines 4
Wipro Airport IT Services Limited Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 357
Wipro Holdings UK Limited Subsidiary 01-04-10 - Ongoing As per Transfer Pricing guidelines 101
SAS Wipro France Subsidiary 01-04-11 - Ongoing As per Transfer Pricing guidelines 150
BVPENTEBeteiligungsverwaltung GmbH Subsidiary 01-09-14 - Ongoing As per Transfer Pricing guidelines 483
Wipro Technologies S.A DE C. V Subsidiary 01-01-08 - Ongoing As per Transfer Pricing guidelines 353
PT WT Indonesia Subsidiary 01-11-12 - Ongoing As per Transfer Pricing guidelines (156)
Wipro Gallagher Solutions Inc Subsidiary 07-02-08 - Ongoing As per Transfer Pricing guidelines 330
Wipro Gulf LLC Subsidiary 01-06-11 - Ongoing As per Transfer Pricing guidelines 96
Wipro Technologies Canada Ltd. Subsidiary 31-12-13 - Ongoing As per Transfer Pricing guidelines 418
Wipro Technologies Australia Pty Ltd Subsidiary 01-08-12 - Ongoing As per Transfer Pricing guidelines 209
Wipro Technologoty Austria GmbH Subsidiary 01-04-06 - Ongoing As per Transfer Pricing guidelines 161
Wipro (Thailand) Co Limited Subsidiary 01-04-09 - Ongoing As per Transfer Pricing guidelines 93
Wipro Information Technology, Netherlands BV Subsidiary 01-06-08 - Ongoing As per Transfer Pricing guidelines 93
Wipro Poland sp z.o.o. Subsidiary 01-08-12 - Ongoing As per Transfer Pricing guidelines 102
Wipro Solutions Canada Ltd Subsidiary 16-08-14 - Ongoing As per Transfer Pricing guidelines 620
Wipro Technologies Nigeria Limited Subsidiary 01-04-14 - Ongoing As per Transfer Pricing guidelines 49
Wipro UK Limited Subsidiary 01-06-11 - Ongoing As per Transfer Pricing guidelines 88
Wipro Technologies Limited- Russia Subsidiary 01-05-08 - Ongoing As per Transfer Pricing guidelines 19
Wipro Outsourcing Services (Ireland) Limited Subsidiary 01-12-12 - Ongoing As per Transfer Pricing guidelines 38
Wipro Doha LLC Subsidiary 01-04-14 - Ongoing As per Transfer Pricing guidelines 245
Wipro Chendgu Limited Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 30
Wipro IT Services Poland sp z.o.o. Subsidiary 01-04-13 - Ongoing As per Transfer Pricing guidelines 245
Wipro Shanghai Limited Subsidiary 27-04-04 - Ongoing As per Transfer Pricing guidelines 17

Annual Report 2015-16

 Name of Related Party Nature of Relationship Duration of Contract Salient terms Amount
(` Mn)
Wipro Portugal S. A. Subsidiary 01-04-07 - Ongoing As per Transfer Pricing guidelines 38
Wipro Australia Pty Limited Subsidiary 01-04-07 - Ongoing As per Transfer Pricing guidelines 8

Wipro Limited
Wipro Technologies Sdn. Bhd. Subsidiary 01-09-13 - Ongoing As per Transfer Pricing guidelines 12
Wipro do Brasil Technologia Ltda Subsidiary 01-01-07 - Ongoing As per Transfer Pricing guidelines 131
Wipro Solutions Canada Ltd Subsidiary 16-08-14 - Ongoing As per Transfer Pricing guidelines 148
Wipro Technologies SRL Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 7
Wipro Travel Services Limited Subsidiary 01-02-03 - Ongoing As per Transfer Pricing guidelines 2
Wipro Retail UK Ltd Subsidiary 01-04-10 - Ongoing As per Transfer Pricing guidelines 210
Wipro Technologies Gmbh Subsidiary 01-03-11 - Ongoing As per Transfer Pricing guidelines 258
Wipro Bahrain Limited WLL Subsidiary 1-4-2015 - Ongoing As per Transfer Pricing guidelines 75
Wipro Enterprises Private Limited Entity controlled by directors As per Related Party Transaction
01-04-14 - Ongoing (RPT) Policy 120
Asian Paints Limited Common Directors Ongoing As per RPT Policy 12
Blue Star Limited Common Directors Ongoing As per RPT Policy 0.06
ICICI Bank Limited Common Directors Ongoing As per RPT Policy 97
Infinity Retail Pvt. Ltd. Common Directors Ongoing As per RPT Policy 0.55
Titan Company Ltd Common Directors Ongoing As per RPT Policy 0.55
Wipro GE Healthcare Private Limited Common Directors Ongoing As per RPT Policy 185
Arcelor Mittal - Luxembourg Common Directors Ongoing As per RPT Policy 332
The Indian Hotels Company Ltd Common Directors Ongoing As per RPT Policy 0.49
LNM Institute of Information Tech. Common Directors Ongoing As per RPT Policy 1.44
The Malayala Manorama Co. Ltd Common Directors Ongoing As per RPT Policy 5
Atria Covergence Technologies Private Limited Common Directors Ongoing As per RPT Policy 0.19
Azim Premji Foundation for Development Promoter Group Ongoing As per RPT Policy 0.18
Century Link Common Directors Ongoing As per RPT Policy 0.62
Purchase of Services
Infocrossing Inc Subsidiary 01-04-08 - Ongoing As per Transfer Pricing guidelines 3,229
Wipro do Brasil Technologia Ltda Subsidiary 01-01-07 - Ongoing As per Transfer Pricing guidelines 1,532
Wipro Technologies Gmbh Subsidiary 01-03-11 - Ongoing As per Transfer Pricing guidelines 1,507
Wipro LLC Subsidiary 01-04-05 - Ongoing As per Transfer Pricing guidelines 2,007
Wipro Technologies SRL Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 823
Wipro BPO Philippines Ltd. Inc Subsidiary 01-03-11 - Ongoing As per Transfer Pricing guidelines 799
Wipro UK Limited Subsidiary 01-06-11 - Ongoing As per Transfer Pricing guidelines 797
Wipro Technologies S.A DE C. V Subsidiary 01-01-08 - Ongoing As per Transfer Pricing guidelines 539
Wipro Poland sp z.o.o. Subsidiary 01-08-12 - Ongoing As per Transfer Pricing guidelines 431
Wipro Shanghai Limited Subsidiary 27-04-04 - Ongoing As per Transfer Pricing guidelines 398
Wipro Portugal S. A. Subsidiary 01-04-07 - Ongoing As per Transfer Pricing guidelines 328
Wipro IT Services Poland sp z.o.o. Subsidiary 01-04-13 - Ongoing As per Transfer Pricing guidelines 498
Wipro Networks Pte Ltd Subsidiary 01-04-14 - Ongoing As per Transfer Pricing guidelines 206
Wipro Chendgu Limited Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 148

75
76
Name of Related Party Nature of Relationship Duration of Contract Salient terms Amount
(` Mn)
Wipro Technologies Australia Pty Ltd Subsidiary 01-08-12 - Ongoing As per Transfer Pricing guidelines 127
Wipro Travel Services Limited Subsidiary 01-02-03 - Ongoing As per Transfer Pricing guidelines 84
Wipro Outsourcing Services (Ireland) Limited Subsidiary 01-12-12 - Ongoing As per Transfer Pricing guidelines 75
Wipro (Thailand) Co Limited Subsidiary 01-04-09 - Ongoing As per Transfer Pricing guidelines 34
Wipro Technogoty Austria GmbH Subsidiary 01-04-06 - Ongoing As per Transfer Pricing guidelines 30
Wipro Information Technology Kazakhstan LLP Subsidiary 15-05-14 - Ongoing As per Transfer Pricing guidelines 30
Wipro Solutions Canada Ltd Subsidiary 16-08-14 - Ongoing As per Transfer Pricing guidelines 24
Designit Denmark A/S Subsidiary 1-3-2016 - Ongoing As per Transfer Pricing guidelines 21
Wipro Retail UK Ltd Subsidiary 01-04-10 - Ongoing As per Transfer Pricing guidelines 21
Wipro Holdings UK Limited Subsidiary 01-04-10 - Ongoing As per Transfer Pricing guidelines 17
Wipro Technologies Argentina SA Subsidiary 01-01-09 - Ongoing As per Transfer Pricing guidelines 16
Wipro Technologies Limited- Russia Subsidiary 01-05-08 - Ongoing As per Transfer Pricing guidelines 13
PT WT Indonesia Subsidiary 01-11-12 - Ongoing As per Transfer Pricing guidelines 10
Wipro Promax Analytics Solutions (Europe) Limited Subsidiary 01-08-12 - Ongoing As per Transfer Pricing guidelines 10
Wipro Europe SARL Subsidiary 01-06-11 - Ongoing As per Transfer Pricing guidelines 5
Wipro Solutions Canada Ltd Subsidiary 16-08-14 - Ongoing As per Transfer Pricing guidelines 4
Wipro Technologies South Africa (Proprietary) Limited Subsidiary 01-04-12 - Ongoing As per Transfer Pricing guidelines 1
Opus Capital Markets Consultants, LLC Subsidiary Ongoing As per Transfer Pricing guidelines (46)
Blue Star Limited Common Directors Ongoing As per RPT Policy 1
ICICI Bank Limited Common Directors Ongoing As per RPT Policy 0.09
Roots Corporation Ltd Common Directors Ongoing As per RPT Policy 0.13
Azim Premji Foundation Entity controlled by directors Ongoing As per RPT Policy 1
Commission Paid
Wipro Technologies Gmbh Subsidiary 01-03-11 - Ongoing As per Transfer Pricing guidelines 440
Wipro Japan KK Subsidiary 26-03-01 - ongoing As per Transfer Pricing guidelines 468
Rent Paid
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing As per Agreement 15
Hasham Traders Entity controlled by directors ongoing As per Agreement 7
Yasmeen A Premji Relative of Director ongoing As per Agreement 6
Wipro Holdings UK Limited Subsidiary 01-04-10 - Ongoing As per Agreement 38
Corporate guarantee commission received
Infocrossing Inc Subsidiary 01-04-08 - Ongoing As per Transfer Pricing guidelines 43
Wipro LLC Subsidiary 01-04-05 - Ongoing As per Transfer Pricing guidelines 38
Wipro Arabia Limited Subsidiary 23-12-06 - Ongoing As per Transfer Pricing guidelines 15
Wipro Gulf LLC Subsidiary 01-06-11 - Ongoing As per Transfer Pricing guidelines 23
Wipro Solutions Canada Ltd Subsidiary 16-08-14 - Ongoing As per Transfer Pricing guidelines 38
Wipro Technologies South Africa (Proprietary) Limited Subsidiary 01-04-12 - Ongoing As per Transfer Pricing guidelines 4
Wipro Airport IT Services Limited Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 4
Wipro Solutions Canada Ltd Subsidiary 16-08-14 - Ongoing As per Transfer Pricing guidelines 6

Annual Report 2015-16

 Name of Related Party Nature of Relationship Duration of Contract Salient terms Amount
(` Mn)
Wipro Technologies SRL Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 1
Wipro IT Services Inc. Subsidiary ongoing As per Transfer Pricing guidelines 23

Wipro Limited
Wipro Technologies Canada Ltd. Subsidiary 31-12-13 - Ongoing As per Transfer Pricing guidelines 4
Wipro Cyprus Private Limited Subsidiary 1-12-15 - ongoing As per Transfer Pricing guidelines 3
Wipro Technologies SRL Subsidiary 01-01-10 - Ongoing As per Transfer Pricing guidelines 1
Wipro Networks Pte Ltd Subsidiary 01-04-14 - Ongoing As per Transfer Pricing guidelines (10)
Wipro Holdings UK Limited Subsidiary 01-04-10 - Ongoing As per Transfer Pricing guidelines (37)
Travel Expenses
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing As per RPT Policy 1
Mr. T K Kurien Director Ongoing As per RPT Policy 5
Mr. Rishad A Premji Director Ongoing As per RPT Policy 2
Mr. Willam Arthur Owens Director Ongoing As per RPT Policy 5
Mr. Vyomesh Joshi Director Ongoing As per RPT Policy 5
Dr. Jagdish Sheth Director Ongoing As per RPT Policy 2
Mr. Azim H Premji Director Ongoing As per RPT Policy 2
Dr. Ashok S Ganguly Director Ongoing As per RPT Policy 0.04
Mr. M K Sharma Director Ongoing As per RPT Policy 0.04
Rental Income
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing As per Agreement 35
Azim Premji Foundation Entity controlled by directors Ongoing As per Agreement 2
Management Service fees
Azim Premji Foundation Entity controlled by directors Ongoing Management Service fees 2
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing Management Service fees 64
RSU COST
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing As per Allocation 60
Wipro Limited Subsidiaries Subsidiary Ongoing As per Allocation 42
Other Costs
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing On Actual Cost Basis 40
Asset purchased
Wipro Enterprises Private Limited Entity controlled by directors 01-04-14 - Ongoing As per RPT Policy 231
Interest Income
Wipro Airport IT Services Limited Subsidiary 01-01-10 - Ongoing As per Agreement 4

Azim H Premj N Vaghul M K Sharma

Chairman & Managing Director Director Director

T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan

Executive Vice Chairman Chief Financial Officer Company Secretary
Bangalore: June 03, 2016

77
 Annexure II of Directors Report
Statement of Disclosure of Remuneration under Section 197 of Companies Act, 2013 and Rule 5(1) of Companies (Appointment
and Remuneration of Managerial Personnel) Rules 2014.
Remuneration paid to wholetime Directors

Name of Title Remuneration Remuneration No. of stock % increase/ Excl. WTD Incl. WTD Ratio of remuneration
Directors in fiscal 2016 in fiscal 2015 options/ Decrease of Ratio of Ratio of Revenues Net profit
(` in Crores) (` in Crores) RSUs remuneration in remuneration remuneration (2016) (fiscal 2016)
granted in 2016 as compared to MRE (1) to MRE and
fiscal year to 2015 WTD (1) (1) (2) (1) (2)
Azim H PremjiChairman and 2.17 4.78 - ( 54.61) 41.33 41.33 0.00 0.00
Managing Director
T K Kurien Executive Vice 13.66 9.11 75,000 49.95 260.19 260.19 0.00 0.00
Chairman
Abidali Z Chief Executive 11.96 - 2,00,000 - 227.81 227.81 0.00 0.00
Neemuchwala* Officer and
Executive Director
Rishad A Executive Director 2.15 - - - 40.95 40.95 0.00 0.00
Premji** and Chief Strategy
Officer

RSU - Restricted Stock Units, MRE - Median remuneration of Employees, WTD - Whole Time Director
1. Based on annualized cost to company.
2. Rounded off to two decimals.
* Mr. Abidali Z Neemuchwala was appointed as Chief Executive Officer and Executive Director effective February 1, 2016. The
remuneration reported above is for the period from April 1, 2015 to March 31, 2016.
** Mr. Rishad A Premji, was appointed as Wholetime Director effective May 1, 2015. The remuneration reported above is for the
period from April 1, 2015 to March 31, 2016.
Remuneration paid to Independent Directors
Name of Directors Remuneration in Remuneration in No. of stock options/ % increase/Decrease of
fiscal 2016 fiscal 2015 RSUs granted in remuneration in 2016 as
(` in Crores) (` in Crores) fiscal year compared to 2015
Dr. Ashok S Ganguly 0.43 0.33 - 30.30
N Vaghul 0.54 0.44 - 22.73
M K Sharma 0.42 0.31 - 35.48
William A Owens * 2.02 1.53 - 32.03
Ireena Vittal 0.42 0.29 - 44.83
Dr. Jagdish N Sheth * 1.56 1.24 - 25.81
Vyomesh Joshi * 1.56 1.23 - 26.83
* figures mentioned against these names are rupee equivalent - as amount paid in USD
Remuneration paid to other Key Managerial Personnel (KMP)
Name of KMP Title Remuneration Remuneration No. of stock % increase/ Excl. WTD Incl. WTD Ratio of remuneration
in fiscal 2016 in fiscal 2015 options/ Decrease of Ratio of Ratio of Revenues Net profit
(` in Crore) (` in Crore) RSUs remuneration remuneration remuneration (2016) (fiscal
granted in in 2016 as to MRE to MRE and 2016)
fiscal year compared to 2015 WTD
Jatin P Dalal Chief 3.83 2.47 50,000 54.65 72.95 72.95 0 0
Financial
Officer
M Sanaulla Khan* Company 0.92 - - Not Applicable 17.52 17.52 0 0
Secretary
V Ramachandran** Company 0.10 0.78 - Not Applicable 1.91 1.91 0 0
Secretary
* Mr Sanaulla Khan was appointed as Company Secretary effective June 3, 2015
** Information provided above for Mr. V Ramachandran is for the period from April 1, 2015 to April 22, 2015. Mr. V Ramachandran resigned as
Company Secretary with effect from close of business hours of April 22, 2015.

78 Annual Report 2015-16

The Median Remuneration of employees (MRE) excluding whole time directors was ` 5,25,000 and ` 5,37,000 in fiscal 2016 and
fiscal 2015 respectively. The decrease in MRE excluding the whole time directors in fiscal 2016 as compared to fiscal 2015 is 2.23%.
The Median Remuneration of employees (MRE) including whole time directors was ` 5,25,000 and ` 5,37,036 in fiscal 2016 and
fiscal 2015 respectively. The decrease in MRE including the whole time directors in fiscal 2016 as compared to fiscal 2015 is 2.24%.
The number of permanent employees on the rolls of the Company as of March 31, 2016 and March 31, 2015 was 123,577 and
115,776 respectively.
The revenue growth during fiscal 2016 over fiscal 2015 was 8.5% and net profits remained largely stable for the current year as
against the net profits of the previous year. The aggregate remuneration of employees excluding WTD grew by 9.15% over the
previous fiscal. The aggregate increase in salary for WTDs and other KMPs was 92.85% in fiscal 2016 over fiscal 2015 (Mr. Rishad
A Premji and Mr. Abidali Z Neemuchwala were appointed during the year and their remuneration for the period April 01, 2015 to
March 31, 2016 is included for this calculation for financial year 2015-16).
The market capitalization is ` 1,39,407 crores as of March 31, 2016. The Price Earnings Ratio was 15.6 as of March 31, 2016. The closing
price of the Companys equity shares on the NSE and BSE as of March 31, 2016 was ` 564.25 and ` 563.35 respectively.
Company variable compensation philosophy

Variable Pay is a mix of financial and qualitative paramenters payable quarterly and adjusted annually. Below are the parameters
determining executive director variable pay at Wipro:
(1) Revenue Achievement
(2) Profitability Achievement
(3) Employee Statisfaction
(4) Achieving Strategtic Goals
(5) Customer Satisfaction Score (CSAT)
Component of remuneration to directors and other KMPs

Component of Remuneration to directors and other KMPs Fixed Salary Commission Variable Retirals Total
As a percentage of Gross Revenues for Fiscal 2016 0.05% 0.00% 0.01% 0.00% 0.07%
As a percentage of the profits for Fiscal 2016 0.32% 0.01% 0.08% 0.02% 0.43%
During fiscal 2016 no employee received remuneration in excess of the highest-paid director.

Wipro Limited 79
80
Annexure III of Directors Report
Information as per Rule 5(2) of Chapter XIII, the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Sl Name of the Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Employee Joining Remuneration (yrs)
(`)
1 Abhijit Bhaduri 1-Oct-09 15,335,832 MBA 55 31 Microsoft Corp Chief Learning Officer
2 Achuthan Nair 29-Apr-91 15,222,955 BE,PGDBM 50 28 Hindustan Petroleum Sr.Vice President & Bu Head-Global Managed
Services
3 Ajay Bhaskar 8-Jul-02 6,452,648 BE, MBA (ISB) 43 22 Hindustan Lever Ltd. Vice President
4 Ajith Kumar 9-Apr-03 6,264,777 BTech 50 23 Xansa India Ltd General Manager & Global head - Operations
Chandra Sekharan
5 Alok Bansal 7-Nov-12 6,667,869 MBA 45 19 TCS General Manager
6 Amit Bajoria 30-Oct-00 10,289,649 CA 38 16 First Employment Vice President
7 Anand Desai 5-Nov-01 6,747,761 BE 45 23 I-Flex Solutions General Manager
8 Ananth 16-Oct-03 7,316,776 B Com ,MBA 43 22 Dell International Services General Manager
Krishnamurthy
9 Aneesh Garg 11-Nov-02 8,468,857 CA 43 14 Timer Internet Limited Vice President
10 Angan Arun Guha 3-Jan-94 19,849,492 BE 47 24 Decibells Electronic Senior Vice President - Banking, Americas
11 Anil K Jain 10-Apr-89 15,639,324 BE, MBA 52 26 ORG Systems Sr. Vice President & Business Head-Global
Communication
12 Anil Kumar Khera 11-Mar-10 6,166,637 BE 58 36 ATOS ORIGIN General Manager & Head Delivery- Large
Programs
13 Anil Raibagi 16-Oct-02 9,319,143 B. Com, MBA 46 24 IBM Vice President and Head - M & A
14 Anuj Bhalla 15-May-96 12,685,741 BE, MBA 45 20 First Employment Vice President & Global Delivery Head, GIS
15 Anurag Seth 3-May-90 9,581,880 BE, PGDBM - Information 49 26 First Employment Vice President & Sdh -Aim
Management
16 Anurag Shrivastava 15-Jul-11 6,725,662 BE 47 25 Reliance Communications General Manager
Ltd
17 Aravind V S 22-Apr-02 8,723,315 Post graduate diploma in 37 14 First Employment Vice President
management
18 Arjun Ramaraju 8-Nov-94 9,897,996 BE 43 21 First Employment Vice - President
19 Ashish Kumar 27-Feb-95 7,800,592 B Tech 48 27 TISCO Vice President and Global Head Industry
Srivastava
20 Ashok Philipose 16-Apr-96 6,538,318 BE 45 22 Pentafour Software General Manager
21 Ashok Tripathy 17-May-93 10,690,984 BE, MBA 47 23 BHEL Vice-President & Global Head, Public Sector
& Higher Education
22 Atul Kapoor 29-May-06 7,818,214 BE, M Tech, PGDBM 48 25 BSNL General Manager - Information Systems
23 Ayaskant Sarangi 3-Dec-12 14,661,155 PGDBM 42 18 GE India Senior Vice President - Human Resources
24 Azim H Premji@@ 17-Aug-66 21,729,550 Electrical Engineering (Stanford) 70 49 First Employment Chairman
25 Balasubramanian K 17-Apr-02 7,166,239 B Com,CA 36 14 First Employment Vice President
26 Bhanumurthy B M 3-Sep-92 28,018,662 B Tech, PGDM 52 29 CMC LTD President And Chief Operating Officer

Annual Report 2015-16

 Sl Name of the Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Employee Joining Remuneration (yrs)
(`)
27 Byomokesh 7-Jul-14 6,792,629 MBA 40 16 GE Appliances and General Manager

Wipro Limited
Tripathy Lighting
28 Chandra Shekar S N 6-Nov-95 7,714,238 BE 43 20 Indian Indst M/C Vice President
29 Deepak Jain 21-Mar-86 18,036,371 BE 51 29 Raba Contel (P) Ltd Sr. Vice President and Head For Internal
Audit
30 Devender Malhotra 23-Aug-02 10,090,849 BE,PGD (Marketing & 44 21 GE - India Business Centre Vice President and Chief Quality Officer
Finance)
31 Dipak Kumar Bohra 14-Jun-02 11,370,338 B Com, CA, ICWAI 43 19 Aditya Birla Group Senior Vice President, Global Controller
32 Dipanjan Basu 4-Jan-10 7,871,447 CA 37 14 Quatrro Analytics And Vice President
Management
33 Dr. Srinivasa 26-Jul-02 9,844,927 B Tech, M Tech, PHD 52 28 Systech Solutions In Vice President
Raghava Vegi
34 Dr.Anurag 15-Dec-00 35,607,936 B Tech, M Tech, PHD 49 24 Evizeon-Apar Infotech Senior Vice President & Business Head -
Srivastava Business Outcome Services
35 E V S Sai Babu 4-Jan-07 6,082,609 BE 50 25 First Employment Vice President - Talent Acquisition
36 Gaurav Chadha 15-May-96 13,709,300 BE, PG Diploma 42 20 First Employment Vice President, Insurance Global Head
37 Gaurav Nigam 6-Aug-12 6,561,436 PGD 40 20 Huawei Sales Head
Telecommunications
38 Gautam Sarkar 22-Apr-03 6,673,784 M.Sc, MBA, PGDSQC 47 23 Usha Communications Vice President
39 Gopikrishnan 27-Aug-12 6,103,293 B Tech, PGDBM 44 20 Infosys Limited Vice President - Digital, Innovation
Ramachandran
40 Gururaj L 5-Sep-94 10,228,323 B.Sc , M.Sc 49 25 BAe HAL P LTD Vice President
41 Hari Kishan Burle 15-Mar-94 7,455,522 B.Tech, M.Tech 44 22 First Employment Vice President
42 Hari Menon 27-Jun-94 8,102,772 B.Sc ,MCA 46 22 Sonata Vice President & Global Head ,Industrial
Manufacturing Vertical
43 Hariprasad Hegde 22-Apr-02 12,720,833 B Tech,B.Sc ,PG Diploma 54 32 Satyam Computer Senior Vice President
Services Limited
44 Harsh Bhatia 7-Nov-02 10,081,092 B.Sc 50 28 Daksh Vice President - Operations
45 Hoshedar 12-Aug-02 14,513,184 B Com 55 31 Klm/Nw Airlines Vice President - Operations
Contractor
46 Inderpreet 28-Oct-11 24,738,480 B.A.(Hons), LL.B, LL.M 51 24 The Chugh Firm Senior Vice President & General Counsel
Sawhney
47 Jatin Pravinchandra 1-Jul-02 38,391,736 PGDBA,BE,CA , CMA (UK) 41 17 GE India Senior Vice President and Chief Financial
Dalal@@ Officer
48 Jayant Prabhu K 5-Aug-96 8,123,818 BE 40 20 First Employment General Manager
49 Jayanta Dey 13-Oct-88 10,803,063 BE (Hons) ,MBA 50 27 First Employment Vice President
50 Jayanta Lahiri 28-Mar-14 8,039,834 BE 51 29 Axa Technologies Vice President
51 K B Unni 5-May-14 9,683,505 MBA 51 29 Seven Hat Consulting Vice President
52 Kamal Sharad Shah 23-Apr-12 8,411,515 MBA 41 16 Thomson Reuters General Manager
53 Kesava Moorthy G 25-Oct-99 8,763,448 BE 53 27 Eaglestar Intl Uk Vice President

81
82
Sl Name of the Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Employee Joining Remuneration (yrs)
(`)
54 Keyur Maniar 12-Mar-07 14,874,225 BE, MBA 46 22 Capital One Financial Vice President
55 Kiran K Desai 21-Sep-98 15,791,484 BE,PG Diploma 51 29 Unicorp Industries Senior Vice President - GIS
56 Krishnakumar N 5-Sep-94 8,990,525 B.Sc ,MSc ( Computer 48 24 DRDO Vice President
Science)
57 Kumudha 31-May-95 11,181,960 BE 52 29 ITI Ltd Senior Vice President
Sridharan
58 Kurien T K@@ 11-Feb-00 136,690,766 B Com,CA 57 33 Wipro GE Executive Vice Chairman
59 Makarand Thigale S 10-Sep-91 7,141,491 BE 50 29 Godrej & Boyce Vice President
60 Milind Halapeth 15-Jan-07 6,640,852 BE, MBA 44 22 Publicis Groupe Vice President
61 Mohan Bhatia 20-Jul-11 6,087,036 MSc., FRM, PGDST, AICWA 52 28 Oracle Financial Services General Manager
Software Ltd.
62 Mohan R 2-Apr-94 7,572,120 BE, MBA 48 25 ORG Systems General Manager & Business Head-Business
Application Services, India & Middle East
63 Mohit B Lal 16-Mar-99 6,623,424 B.Sc , MCA 46 22 MXSS Delhi Vice President & Vertical Delivery Head
64 Mrityunjay Kumar 28-Sep-04 7,786,313 BA, MA, PHD 46 20 Centre For Organization Vice President
Srivastava Development, Hyderabad
65 Nagarjuna Sadineni 14-Dec-07 7,273,583 MBA 46 25 Wep Peripherals Vice President Global Immigration
Management
66 Nanda Kishore N 1-Aug-94 8,503,734 BE, PGDS 44 22 Hypermedia Info System Vice President
67 Nandini Matiyani 1-Oct-13 6,766,544 BE 44 21 Onmobile Global Ltd Vice President
68 Narayan P S 12-Jun-95 7,902,393 BE, MBA 51 24 Asian Paints (I) Pvt Ltd Vice President
69 Narayanan S 1-Dec-95 6,345,745 BE 44 22 Deutsche S/W General Manager
70 Natarajan 22-Jan-15 11,595,065 BE 49 26 IBM India Pvt Ltd Vice President
Srinivasan
71 Neeraj Kumar 14-Jun-07 9,002,068 B.A, PGDM 48 25 Reliance Retail Vice President-Human Resources
72 Neeraj Sahdev 24-Mar-97 7,800,477 B Tech 45 22 Mico Inds Software Vice President & Head- Govt. & Defence,
India
73 Nitesh Kumar Jain 10-Mar-03 6,479,948 MBA (Finance), B.Sc (Maths 41 19 I-Flex Geo Country Head
& Stats)
74 Nithya Ramkumar 4-Jul-91 7,191,855 B Tech 45 24 First Employment Vice President -Process Platform Group
75 Padmanabha T K 3-Mar-93 6,368,643 BE 48 26 Zenith Computers Chief Technology Officer - Wipro Infotech
Business Outcome Services
76 Padmaprasad 7-Jul-14 6,455,408 BE, MBA 43 21 HCL Technologies Ltd General Manager
Munirathinam
77 Pandurang Desai 12-Jul-89 10,792,198 AMIE, LEE (Tele Com Engg) 52 29 Uptron India Ltd Vice President & Business Head- Media &
Telecom,- India and Middle East Region
78 Parminder Singh 20-May-13 6,664,803 PGDBA 43 20 Logica Pvt Ltd General Manager
79 Prasad Gantasai 1-Feb-06 8,674,079 BA Economics, MSW 42 20 Mpower Software Services Vice President & Head-HR,BFSI
(PM&IR), EPBM (IIMC)
80 Prasad V Bhatt 2-Mar-89 10,961,799 BE, M.Tech (Electrical) 51 27 ORG Systems Vice President - PES

Annual Report 2015-16

 Sl Name of the Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Employee Joining Remuneration (yrs)
(`)
81 Prasanna Gamma 2-Dec-99 33,382,154 B Tech,PGD 56 33 Microland Ltd President

Wipro Limited
Kali
82 Prasenjit Lahiri 5-Jan-95 8,336,542 BE 47 23 TVS Electronics Vice President
83 Prashant Kulkarni 4-Aug-05 8,885,486 BE 50 26 24 X 7 Customer Vice President
84 Priti Kataria 1-Jun-98 6,549,672 MBA, Tata Institute Of Social 43 18 First Employment Vice President and Global HR Head-GIS,
Sciences(TISS, Mumbai) Chairperson-PSHC
85 Raghavendra K M 20-May-94 8,310,930 BE 45 23 Park Controls & General Manager
communication Pvt
Limited
86 Raghavendra 14-May-07 6,981,875 BE 50 27 Affordable Business General Manager & Vertical Head - RCT
Prakash S
87 Raghunandan C B 13-Nov-86 7,044,023 PG DIPLOMA (Material 56 29 Mac Millan India Limited Vice President
management)
88 Raja Ukil 15-Jul-02 12,294,225 BE 47 20 Price Waterhouse Senior Vice President
89 Rajan Kohli 15-May-95 22,398,582 BE (E&C),PGDM (Marketing 44 21 First Employment Senior Vice President & Global Head
and Finance)
90 Rajeev Mendiratta 23-Aug-02 8,855,641 B Tech 42 21 GE India Vice President & Head-Work Force Planning
& Development
91 Rajeev V S 16-Jan-92 6,215,784 B Tech ,PGDM 55 31 TCS General Manager - Mission Quality
92 Rajeeva Kumar 1-Dec-09 6,547,877 MBA 57 33 Spice Communications Program Head
Singh Ltd
93 Rajesh Sehgal 4-Jun-01 6,778,982 BE ,MBA (International 46 21 Hoogovens Technical Head Quality & Process Excellence
Business) Services
94 Rajiv H K 22-Jul-96 13,009,011 BE 48 24 PSI Data Systems Vice President
95 Rakesh Taneja 11-Jan-07 6,186,339 BE 42 19 HCL Infosystems LTD. Head- State Government Business
96 Ram Prasad K R 17-Sep-90 8,024,088 BE 53 30 Intertec Systems General Manager - Innovation Group
97 Ramakrishna Potti 1-Aug-94 6,545,874 B Tech 44 22 ITI Ltd General Manager
98 Ramesh Nagarajan 25-Jan-91 17,474,191 ME 51 27 First Employment Senior Vice President & COO, GIS
99 Ramkumar 1-Dec-05 6,061,267 B.Sc ,MCA 52 27 Covansys India Pvt. General Manager-Practice And Automation
Balasubramanian
100 Ranjana Maitra 7-Jun-02 6,423,485 MBA (USA) 50 26 TCS General Manager
101 Ravi Ahuja 12-May-08 7,378,807 BE 47 25 Tata Cummins Ltd General Manager
102 Ravi Purohit 15-May-96 6,516,307 B Tech, PGDM 45 22 Tata Consultancy Services Vice President - Retail
103 Ravi Sankar K 14-May-07 6,085,766 BE, PG Diploma in 49 29 FCI OEN India Pvt Lt General Manager
Management
104 Rishad Premji@@ 20-Jul-07 21,561,861 B.A, MBA 39 17 Bain & Co Executive Director and Chief Strategy Officer
105 Rohit Adlakha 30-May-95 12,435,902 BE 42 20 First Employment Vice President
106 Samir Gadgil 9-Oct-04 13,102,012 MPM,BE 41 18 Cedar Consulting Vice President
107 Sandeep Kumar 20-Feb-06 9,099,053 B Com, MBA 52 27 HCL deutsche bank Vice President
108 Sanjay Singh D 6-Jun-94 7,443,121 BE 47 25 CMC LTD Vice President

83
84
Sl Name of the Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Employee Joining Remuneration (yrs)
(`)
109 Sanjesh K Gupta 4-Dec-84 12,537,650 Diploma, AMIE (Elec.& 52 31 Televista Electronics Vice - President
Communication) Computer Division
110 Sanjiv K R 16-Nov-88 21,082,148 MMS 52 28 DCM Data Products Chief Technology Officer
111 Santhosh G Nair 30-Apr-90 8,962,855 B Tech, PGDM 50 26 First Employment Vice President & Global Business Head
112 Satish Y 19-Apr-00 7,079,453 BE 43 20 Jindal Vijayanagar Steel Ltd General Manager & Practice Head
113 Satyaki Banerjee 3-Apr-03 7,957,203 B.A, LLB 44 22 Practicing Lawyer Dy. General Counsel
114 Saurabh Govil 11-May-09 35,719,093 B.Sc , PGDM -PM & IR 48 27 GE India President & CHRO
115 Sharada Nanda 8-Nov-10 9,692,834 B.Sc ,PGDCSM 50 28 Amdocs Vice President
Kumar
116 Sheetal Sharad 16-Sep-94 8,590,438 BE 43 22 First Employment Vice President
Mehta
117 Siby Abraham 16-Feb-87 10,974,785 B Tech, M Tech 52 29 First Employment Vice President - CTO
118 Somit Kapoor 25-Feb-02 7,828,600 BE, PGDM 39 14 New Holland General Manager
119 Soumitro Ghosh 26-Nov-88 25,904,018 B Tech, MBA 56 32 Blue Star Ltd President - India , Middle East & APAC Group
120 Sreenath A 29-Nov-02 9,822,285 BE 52 28 Kshema Technologies Vice President And Business Head - Business
Venkappiah Solution Division
121 Sridhar Santhanam 23-Jul-12 6,198,609 BE, MBA 48 25 RBS Business Services P Ltd General Manager
122 Srinath N G 4-May-98 6,874,027 BE 49 24 J T mobiles Ltd General Manager
123 Srinivas Pallia 1-Feb-92 21,209,090 B Tech, M Tech 49 24 First Employment President - Consumer
124 Srinivas Rao R 27-May-96 8,292,754 B.Sc ,MCA 52 28 Riyam Computer Services Vice President - Business Platforms Group
125 Srinivasan G 14-Apr-99 9,758,523 BE 46 25 Indchem Electronics Vice President
126 Srinivasan G 21-Nov-94 8,259,463 B Com, ICWA 49 28 Madura Accessories Vice President
127 Sriram Tanjore 26-May-10 10,322,641 PGDM General Management 46 25 Bharti Airtel Ltd Vice President & Bu Head - Telecom Network
Vaithianatha Service
128 Srivatsan 12-Jan-12 6,477,424 PGDM 47 22 Oracle Financial Services General Manager
Venkataramani Ltd
129 Subhash Khare 3-Oct-90 7,462,543 BE 55 33 Telco Vice President -Human Resources
130 Subrahmanyam P 8-Nov-83 16,832,510 B.Sc , MSc,M PHIL 55 31 First Employment Chief Global Delivery Enablement
131 Subramanian K 19-Aug-96 9,785,864 B.Sc ,ACA,ICWA 51 26 Madras Cements Ltd Vice President
132 Subramanian L 3-Aug-92 11,866,796 B.Sc, ME 48 23 First Employment Vice - President
133 Sujatha Visweswara 4-May-98 9,148,066 BE, M Tech 50 23 ALIT Vice President
134 Sunil Varkey 14-Feb-13 7,313,786 MBA 48 20 IDEA Cellular General Manager
135 Sunita Cherian 4-Nov-96 11,239,981 B Tech, PGDBA 42 19 First Employment Senior Vice President - Human Resources
136 Surendranath 10-Jul-06 8,125,307 MCA, B.Sc 48 26 MSG Systems Vice President
Garimella
137 Suresh B 22-May-89 13,722,822 BE, ME 52 29 AF Ferguson & Co Vice President - Application Support &
Maintenance
138 Syed Mansoor 9-Dec-91 7,614,983 BE 47 25 IDM Vice President-Energy Management & Green
Ahmad IT
139 Trupti Mukker 27-Oct-14 6,679,123 MBA 36 14 Genpact Vice President

Annual Report 2015-16

 Sl Name of the Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Employee Joining Remuneration (yrs)
(`)
140 V J Nithin 6-Nov-02 7,419,212 B Com (Hons), ACA 40 15 A.F. Ferguson & Co. Vice President

Wipro Limited
141 Vasudevan A 31-Mar-86 17,364,530 BE, M Tech 54 30 First Employment Vice President
142 Velayutham R 1-May-13 6,443,728 BCS, Diploma 52 28 NSN Account Delivery Head
143 Venkat Sriramagiri 10-Apr-08 9,670,368 B Tech, ME 45 23 Polaris Software Vice President
Technology
144 Venkataraman 10-Aug-04 8,435,345 B.Sc ,ADV DIP IN SMGT 45 12 NIIT Limited Vice President
Mahadevan
145 Venugopal Terla 4-Mar-15 6,087,565 BE 49 24 Mphasis General Manager
146 Vijayakumar 23-Aug-10 6,297,144 BE 45 24 IBM General Manager
Kesanapalli
147 Vijayasimha 28-Feb-14 8,713,953 BE 42 20 Infosys Limited Senior Vice President
Alilughatta
148 Vinay Narayan 1-Jul-00 7,128,274 B Com, CA 47 22 Price Waterhouse Chief Risk Officer
Disley
149 Vinod Kumar T V 13-Jan-88 12,225,208 B.Sc , MSc 55 30 Usha Microprocessors Vice President & Sdh - Mfg & Hi Tech
150 Vishal Kumar Shah 1-Oct-10 7,980,704 Fellow Programme in 44 16 Right Management Vice President
Management (PhD),PGDM
151 Vishwas Deep 1-Mar-92 11,710,411 BE (Mechanical),M.Tech 47 24 First Employment Vice President & SDH-BAS
INDMGT
152 Vishwas Santurkar 6-Nov-91 14,841,207 BE (Mechnacial) 53 31 Unicad Technologies Vice President & Head - Talent
Transformation
153 Viswanathan 6-Feb-14 9,769,776 M Tech 49 29 Vodafone India Ltd Vice President
Ramaswamy
154 Yeddu Prasad 28-Apr-03 8,133,368 B Tech 47 24 Cisco General Manager
Employed for part of the year with an average salary above ` 5 lac per month

Sl Name of the Employee Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Joining Remuneration (yrs)
(`)
155 Abul Sikdar 30-Nov-06 1,760,178 BE, MBA, MS 48 16 Blue Star Infotech Global Alliance Manager - NetApp
156 Alexis Samuel 15-Apr-98 1,074,342 BE, AMP (HBS) 48 26 Eveready Industries (Union Global Managing Partner - WOS
Carbide)
157 Aravind Kashyap 1-Jul-13 2,572,233 MBA 44 15 HCL Techologies General Manager
158 Ashish B Adhvaryu 24-Jul-95 1,025,496 Diploma in Industrial Electronics 48 21 Business Link Practice Head
159 Ashutosh Chadha 4-May-15 12,776,789 MBA 50 29 INTEL Vice President
160 Atul Mathur N 12-Feb-01 3,891,864 MBA ,BE 45 25 Thermax Babcock & Wi General Manager & Business Head
161 Avinash Prasad 15-May-96 3,543,981 PG Diploma ,B Tech 43 20 First Employment General Manager
162 Balasubramanian 5-Jul-13 1,332,557 BE, PGDIE, MBA 52 29 Lloyds Bank Chief Executive
Ganesh
163 Chethan Prabhudeva 2-Jul-12 1,550,229 BE 40 18 IDEXCEL Technologies Pvt Chief Technologist, Global Transformation
Ltd

85
86
Sl Name of the Employee Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Joining Remuneration (yrs)
(`)
164 David Dlima 23-Apr-15 6,199,398 Masters Degree 51 27 IBM global services Vice President
165 Dinakar Kini 2-Apr-12 1,883,778 PG Diploma 54 29 OFSS General Manager
166 Ganesan 11-Jul-11 838,419 PGDBA 48 19 RBS Business Services Pvt Head - Ib Operations
Vaikundapathy Ltd
167 Gaurav Dhall 8-Aug-11 5,771,020 BE, GLP-INSED 44 23 Ness Technologies General Manager
168 Kavil A Mohan 14-Dec-15 2,483,651 M PHIL 55 28 Accenture General Manager
169 Krishna Bhagavatula 15-Jun-15 5,804,480 ME 49 24 IBM General Manager
170 Krishna Jagannath 1-Dec-92 826,959 MBA ,BE 51 27 Hindustan Motors General Manager & Practice Head
171 Krishnan Subramanian 13-Apr-15 6,904,199 CA 47 24 Content Media India Pvt Ltd Vice President
172 Madhwesha Kulkarni 8-Apr-13 588,393 BE 46 25 Aricent Technologies General Manager
173 Mangesh Tayade 7-Mar-16 584,803 ME (Digital Electronics) 49 27 Capgemini India General Manager
174 Manish Prasad 5-Mar-10 1,593,396 B Tech 43 20 IBM India Vice President
175 Manoj B 12-Jan-98 2,777,913 BE 44 22 PCL MINDWARE General Manager
176 Manoj Dinkar Dighe 1-Mar-93 580,146 ME 45 23 First Employment Gm - Solutions
177 Manoj K Jaiswal 8-Jun-98 5,159,015 B. Com, ACA 41 21 Price Waterhouse Vice President
178 Meenu Bagla 2-Mar-09 1,078,264 MBA 40 15 PSI Data Systems Ltd Senior Manager
179 Mohanakrishnan G 18-Jan-88 277,081 B Tech, M Tech 52 28 First Employment General Manager - Mission Quality
180 Muralidharan S 23-Apr-15 9,760,150 Mechanical Engineering 56 31 Schneider Electrics IT Vice President
business India GVT LTD
181 Narasimha Rao N V 2-Aug-93 1,098,733 B.Sc, M.Sc 47 24 Sritek computers Pvt Group Head
Limited
182 Padmanabhan A 13-Nov-97 1,679,147 LLB 53 34 Reliance Industries Dy. General Counsel & Head of Compliance,
DR & outbound Contracts
183 Peyush Agarwal 7-Sep-15 3,449,604 MBA 44 16 Target Principal Consultant
184 Prasun Banerjee 15-Jun-15 4,981,949 B Com, CA, CPA 45 22 Avaya Associate Vice President
185 Preya Kamat Pal 17-Jan-00 3,741,543 BE 49 24 NIIT Limited Vice President
186 Puneet Chandra 1-Sep-00 9,876,103 BA (Hons) Economics,ACA 54 32 Cygnet Systems Chief Marketing Officer & Head of Corporate
Affairs
187 Purushotam Savlani 15-May-07 2,544,080 PGDBM 46 25 V.S.N.L General Manager
188 Rahul Koul 17-Jul-06 1,739,581 BE, PGDM 39 13 Esolutions Pvt Ltd Senior Manager
189 Rahul Shah 2-Nov-15 4,263,930 B. Tech, MBA (IIMA) 45 22 Infosys Vice President
190 Rajan Sampath 27-Mar-00 2,134,319 B. Tech 52 28 Nucleus Software Wor General Manager & BU Head - ENU,GIS
191 Rajeev Narayanan 18-Jun-14 443,984 BE 50 28 Geometric Ltd General Manager
192 Rajendra Ambekar 1-Oct-13 1,200,081 MBA 46 22 Maersk Line Vice President
193 Rajesh N 21-Aug-00 893,264 Diploma 49 29 Crompton Greaves Ltd General Manager Biz Ops & Csat India and M.E
194 Ramachandran V 5-May-03 1,005,099 B Com, CA, CS 54 30 Sasken Communication Company Secretary
Technologies Limited
195 Ravi Shankar Prakash 27-Mar-95 1,212,420 B.Sc , MSc 46 23 Frontier Information General Manager
Rao M

Annual Report 2015-16

 Sl Name of the Employee Date of Gross Educational Qualification Age Experience Last Employment Designation
No. Joining Remuneration (yrs)
(`)
196 Ravi Srinivasan 1-Nov-04 6,172,959 BE 51 25 Citibank General Manager

Wipro Limited
197 Sachin Ashok Zute 15-Jul-13 1,929,992 MBA 38 16 Aricent Technologies General Manager
Holdings Limited
198 Sanaulla Khan 12-May-15 9,226,999 M Com, FCS 46 22 ICICI Prudential Life Company Secretary
Mohammed Insurance Co Ltd
199 Sangita Singh 1-Aug-92 54,639,360 BE 46 25 HCL Limited Chief Executive - Healthcare Life Sciences and
Service
200 Satish Katragadda 25-Aug-03 1,858,883 BE 45 22 AmericanTool Comp General Manager
201 Satishchandra 25-Jan-12 1,376,510 BE 49 26 Tata Consultancy Services Chief Business Operations Officer
Doreswamy
202 Shashidhar Bommavara 6-Oct-14 5,161,358 BE 45 22 Infosys General Manager
Ramakrishnaiah
203 Somanath Ballari 22-Jun-15 6,468,106 BA, LLB 41 16 Avery Dennison (India) Pvt Associate General Counsel
Ltd
204 Srinivas R 24-Jan-92 1,758,627 BE, M Tech 48 24 CAMPUS General Manager
205 Suhrid Brahma 23-Jan-13 1,354,857 MBA 45 21 AMS - Oracle Practice Leader Vice President,
206 Valerian John Fernandes 17-Jul-95 1,918,848 B.Com, ICWA, CS 50 24 First Employment General Manager
207 Venkat Nimagadda 22-Feb-16 692,214 B.Tech, PGDSE 47 22 Accenture General Manager
208 Venkata Subramanian K 6-Mar-86 2,099,080 B.Sc, B Tech 59 37 DCM General Manager - Shared Services Delivery
209 Venkatesh N 2-Nov-98 2,839,176 BE, ME 51 26 TCS Vertical Delivery Head
210 Vijai Raghunathan 15-Jun-15 5,101,710 PGD 52 28 COE Lead Domain Head
211 Vikas Ravindra Revankar 20-Aug-07 309,129 B Tech 36 16 Infosys Tech Senior Consultant
212 Vishal Arora 20-May-02 1,412,226 BE, MMS 44 20 Ways India Ltd., General Manager
Notes:
1. Remuneration comprises of salary, allowances, commission, performance based payments, perquisite and companys contribution to PF and super-annuation as per the definition
contained in Section 2(78) of the Companies Act, 2013 paid during the year. It also includes perquisites value of Restricted Stock Units (RSUs) exercised if any by employees.
2. Rishad A Premji, who is in the employment of the Company is a relative of Azim H Premji, Director of the Company.
3. The nature of employment is contractual in all the above cases.
4. None of the employees except the Chairman and Managing Director holds 2% or more of the paid up equity share capital of the Company as per clause (iii) of sub-rule (2) of Rule 5
of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
5. In terms of the proviso to Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, particulars of employees posted and working in a country
outside, India not being directors or their relatives, drawing more than sixty lakhs rupees per financial year or five lakhs rupees month, as the case may be, have not been included
in the above statement.
6. @@ The remuneration of Whole Time Directors and Chief Finanical Officer is computed on accrual basis. It also includes pro-rated value of Restricted Stock Units (RSUs) granted to them
which vest over a period of time.

87
 Annexure IV
Form No. MR-3
SECRETARIAL AUDIT REPORT
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]

FOR THE FINANCIAL YEAR ENDED: March 31, 2016 c. The Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) Regulations,
To,
2009 (Not Applicable to the Company during the
The Members,
Audit Period);
Wipro Limited, Bengaluru
We have conducted the secretarial audit of the compliance d. The Securities and Exchange Board of India (Share
of applicable statutory provisions and the adherence to good Based Employee Benefits) Regulations, 2014
corporate practices by Wipro Limited (hereinafter called the e. The Securities and Exchange Board of India (Issue
Company). Secretarial Audit was conducted in a manner that and Listing of Debt Securities) Regulations, 2008 (Not
provided us a reasonable basis for evaluating the corporate Applicable to the Company during the Audit Period);
conducts/statutory compliances and expressing our opinion
thereon. f. The Securities and Exchange Board of India (Registrars
to an Issue and Share Transfer Agents) Regulations,
Based on our verification of the Companys books, papers, minute 1993 regarding the Companies Act and dealing with
books, forms and returns filed and other records maintained client;
by the Company and also the information provided by the
Company, its officers, agents and authorized representatives g. The Securities and Exchange Board of India (Delisting
during the conduct of secretarial audit, we hereby report that in of Equity Shares) Regulations, 2009 (Not Applicable
our opinion, the Company has, during the audit period covering to the Company during the Audit Period); and
the financial year ended on March 31, 2016 (the audit period)
h. The Securities and Exchange Board of India (Buyback
complied with the statutory provisions listed hereunder and also
of Securities) Regulations, 1998 (Not Applicable to the
that the Company has proper Board-processes and compliance-
mechanism in place to the extent, in the manner and subject to Company during the Audit Period);
the reporting made hereinafter: VI. Other laws applicable specifically to the Company namely:
We have examined the books, papers, minute books, forms and (a) Information Technology Act, 2000 and the rules made
returns filed and other records maintained by the Company for thereunder
the financial year ended on March 31, 2016 according to the
provisions of: (b) Special Economic Zones Act, 2005 and the rules made
thereunder
I. The Companies Act, 2013 (the Act) and the rules made
thereunder; (c) Software Technology Parks of India rules and
regulations
II. The Securities Contracts (Regulation) Act, 1956 (SCRA) and
the rules made thereunder; (d) Copy Right Act, 1957
III. The Depositories Act, 1996 and the Regulations and (e) The Patents Act, 1970
Bye-laws framed thereunder;
(f ) The Trade Marks Act, 1999
IV. Foreign Exchange Management Act, 1999 and the rules
and regulations made thereunder to the extent of Foreign We have also examined compliance with the applicable clauses
Direct Investment and Overseas Direct Investment. There of the following:
was no External Commercial Borrowing.
I. Secretarial Standards issued by The Institute of Company
V. The following Regulations and Guidelines prescribed Secretaries of India on Meetings of the Board of Directors
under the Securities and Exchange Board of India Act, 1992 and General Meeting.
(SEBI Act):-
II. Listing Agreements (till November 30, 2015) entered into
a. The Securities and Exchange Board of India by the Company with BSE Limited and National Stock
(Substantial Acquisition of Shares and Takeovers) Exchange of India Limited and Securities and Exchange
Regulations, 2011;
Board of India (Listing Obligations and Disclosure
b. The Securities and Exchange Board of India Requirements) Regulations, 2015 (From December 01, 2015
(Prohibition of Insider Trading) Regulations, 2015; to March 31, 2016)

88 Annual Report 2015-16

We have not examined compliance by the Company with As per the minutes of the meetings duly recorded and signed
applicable financial laws, like direct and indirect tax laws, since by the Chairman, the decisions of the Board were unanimous
the same have been subject to review by statutory financial audit and no dissenting views have been recorded.
and other designated professionals.
We further report that based on the review of the compliance/
During the period under review, the Company has complied certificates of the Company Secretary which were taken on
with the provisions of the Act, Rules, Regulations, Guidelines, record by the Board of Directors, there are adequate systems
etc. mentioned above. and processes in the Company commensurate with the size and
operations of the Company to monitor and ensure compliance
We further report that
with applicable laws, rules, regulations and guidelines.
The Board of Directors of the Company is duly constituted with
We further report that during the audit period there was no
proper balance of Executive Directors, Non-Executive Directors
event/action having a major bearing on the Companys affairs
and Independent Directors. The changes in the composition of
in pursurance of the above referred laws, rules, regulations,
the Board of Directors that took place during the period under
guidelines etc.
review were carried out in compliance with the provisions of
the Act. For V. SREEDHARAN & ASSOCIATES
Company Secretaries
Adequate notice is given to all directors to schedule the Board
Meetings, agenda and detailed notes on agenda were sent at
least seven days in advance, and a system exists for seeking and (V. Sreedharan)
obtaining further information and clarifications on the agenda Partner
items before the meeting and for meaningful participation at FCS: 2347; CP No: 833
the meeting. Bangalore
Date: April 20, 2016

Wipro Limited 89
Annexure V: Corporate Social Responsibility Report for the year 2015-16
We present our report on Wipros social and environmental that education is a key enabler of change towards a better
initiatives, which are also referred to as CSR, for 2015-16. The society
year can be characterized as continuity amidst change. While
A.1 Systemic reforms in school education: Over the past
we expanded some of our programs in scale and scope, our
15 years, we have worked to contribute to systemic reforms
basic strategic direction remained the same. This strategic
in school education in India, through Wipro Applying
foundation is something that has been built over the last fifteen
Thought in Schools (WATIS). The strategy for this has
years since we started our first program in social and community
been to support the development and strengthening of
engagement in 2001. The core elements of our strategy are as
institutional capacity, by supporting organizations working
follows:
in school education reform efforts. We have supported and
The values of Spirit of Wipro guides all our actions. closely partnered with over 70 organizations in different
To conduct our business on sound ethical principles and areas of systemic improvements in school education. The
widely accepted tenets of good corporate governance. impact of this wide network of education organizations
This includes compliance in letter and spirit with laws and has been noticeable in Indias large education system,
regulations everywhere we operate. including on curriculum, text books, teacher education
To make our organization more sustainable as defined by and capacity, research and school leadership. In addition to
the triple bottom-line framework. The primary areas of developing long term institutional capacity, our work spans
focus are to (i) reduce our ecological footprint (ii) foster a 113 educational projects with organizations, involving
more diverse, empowered and fair workplace. over 18,600 schools and 34,500 educators across 17 states
reaching out to about 4.4 million students. During 2015-16,
To engage with identified social challenges in a manner
we initiated a new strategy of accelerating the expansion of
that is deliberative and systemic. We have chosen to focus
our partner ecosystem thereby supporting new ideas and
on Education and Ecology.
new organizations. Six new partners were added during
To work with communities who are proximate to wherever the year. Two of these new initiatives form part of our
we have significant operational presence. As a global seeding strategy to support new or early stage ideas from
organization, we think that, it is important to try and make committed and competent young people. We supported a
a difference to communities everywhere and not only in total of 22 organizations during the year for work that tries
India. to address critical issues in the quality of teaching, learning,
Our Good Citizen manifesto articulates a set of guiding educational material and the school environment. As part
principles that inform our thinking and actions. The manifesto of the advocacy of such issues, the 16th national forum was
covers a wide range a foundation of values as embedded in organized a unique platform that brings together the
Spirit of Wipro, compliance with laws and regulations, a robust best minds in education in the country to deliberate and
framework of corporate governance, proactive and strategic exchange thoughts and ideas on some of the important
engagement with key challenges of the environment and issues in education.
society, serving our multiple stakeholders and working with A.2 Education for the Proximate Disadvantaged:
proximate communities, all in a manner that is thoughtful, Education is so critical that it is necessary, to engage on
deliberative and systemic. multiple fronts. While systemic reforms will continue to
The salient highlights of our initiatives for 2015-16 are articulated be an important area for us, we also have a large program
below. You will also find in this report a detailed summary of that is designed for more direct impact on disadvantaged
our sustainability initiatives under the Business Responsibility children. Run through Wipro Cares, the employee-
Reporting section. It must be emphasized that our sustainability supported trust of Wipro, the program reached out to
and social programs are wide ranging and global in scope. For more than 65000 children in seven states. The number
a fuller understanding of these, you may want to refer to our of projects in this area increased from 11 in the previous
comprehensive annual sustainability reports based on GRI year to 16. One of the projects that we started during the
principles. These and various other details are available at the year was in Nagaland in North-East India which is relatively
website www.wipro.com. underserved with respect to development. The projects
cover disadvantaged children of migrant labourers, from
A. Education tribal communities, urban slums or street children.
Our work in education covers a range of initiatives that An important initiative that we started in the previous
span early childhood care and education including school year was on children with disability. This has scaled in
education and higher education and systemic reforms to size and scope significantly with 12 running projects that
children with disabilities to sustainability education. Apart reach out to 2,500 children with disability who are also
from India, we have significant programs in the U.S.A. as from socioeconomically underprivileged backgrounds.
well. The common vision that ties this together is our belief Education for such disadvantaged sections is never about

90 Annual Report 2015-16

 just schooling. It is linked to a whole host of other enabling contributes nearly 10 % of Indias GDP and employs more
factors like availability of nutrition, community support, than 10 million people, its importance to the Indian and
specially trained teachers, assistive technology, and access global economy is unquestionable. People with the right
to healthcare etc. Our approach tries to integrate these skills and competencies form the bedrock of IT services
dimensions to the extent possible. Our work in this space organizations. The challenge for the Indian IT industry
covers multiple categories of disability and focuses on early going forward would be to ensure that the skills required
intervention and inclusive education. for the rapidly changing dynamic of the industry are
met. As a leading company in this sector, we have always
A.3. Science Education in the U.S.A.: The Wipro Science
owned this as a primary responsibility. We have been
Education Fellowship (SEF) is a significant program that
doing this on two important dimensions: (a) Imparting
is focused on contributing to improving Science and
post-graduate education in engineering and technology
Math education in schools that serve disadvantaged
to science graduates as the foundation for further skills
communities in US cities. This initiative is aligned with the
development in IT and (b) Capacity building among the
U.S. federal governments priority on improving science
faculty of engineering colleges.
and math education in their school system. The program
is currently running in Chicago, New Jersey, New York and The Wipro Academy of Software Excellence (WASE) program
Boston. The program works in close collaboration in over helps Science graduates to study for a Masters degree in
20 school districts wherein 250-350 teachers go through a Software Engineering (M. Tech). Run in partnership with the
2-3 year fellowship with intense support to develop their Birla Institute of Technology & Science (BITS), Pilani, India, this
capacities to be better teachers and change leaders. We are unique program blends rigorous academic exposure with
partnering with University of Massachusetts, Boston and practical professional learning at the workplace, we run a
Michigan State University. Mercy College in New York and similar program called WISTA in collaboration with Vellore
Montclair State University in New Jersey are also involved. Institute of Technology (VIT) for science graduates without a
mathematics background. Since its inception in 1995, Wipro
The current commitment of Wipro to these programs is
has supported and enabled more than 25000 students to
about 7.8 million USD over a period of 5 years, one of the
graduate from the WASE and WISTA programs with an MS
largest such commitments made by a non-US company
degree in Software Engineering. During 2015-16, the total
to the cause of improving science and math education
number of new entrants into the two programs was 1810
out there. While this expenditure is not allowed under
while the aggregate strength across four years was 13805.
the CSR rules of the Companies Act 2013, we think that
it is important to include this as part of our report. We Mission10X started in 2007 has the goal of improving
would like to highlight the underlying principle here education in Indias engineering colleges. Over the last six
that corporations must engage with social issues and years Mission10X has reached out to over 28,830 faculty
with communities wherever they have large operational members across 1300+ engineering colleges in 30 states.
presence in the world. The work involves faculty capacity development, and
curricular improvement. The initiative has also catalyzed
A.4 Sustainability Education: Through Wipro-earthian
more than 500 student projects.
we try and bring together two of our key concerns:
Education and Sustainability. The program completed its B. Working with Communities Everywhere
fifth year in early 2016 and saw a significant expansion to
10,000 students and 2,200 school teachers across 2,000 A primary tenet of our CSR strategy is that we must
schools in 45 districts across 21 states. During the year, we engage with communities proximate to wherever we have
forged new partnerships with civil society organizations significant operational presence in the world. In particular,
and government bodies enabling us to expand our we choose to work with underprivileged communities. This
reach in the states of Punjab, Sikkim, Himachal Pradesh, is organized through Wipro Cares, a unique trust that is
Odisha, Tamil Nadu and Kerala. Our expanded reach also based on the operating model of employee contributions
included the new languages of Tamil, Malayalam and matched by Wipro Ltd. Our work spans primary health-
Marathi in which schools could participate and submit care, education, and ecology and disaster rehabilitation.
entries. Our engagement with colleges on incorporating Of these, we have already spoken about our work on
sustainability into higher education saw several strategic community education in A2 above. We articulate our work
initiatives started during the year. These include support and progress on the other dimensions below:
for sustainability research as part of the doctoral program B.1 Primary Health Care: Access to primary health care
at IIM-Bangalore, partnering with IIM-Indore in curricular is a key determinant of an individuals future trajectory
development of a course on sustainability and a strategic in life, including the ability to engage in productive
collaboration with Xavier University, Bhubaneswar for their livelihoods and responsible citizenship, In India, nearly
newly initiated School of Sustainability. 600 million people do not have access to basic, affordable,
A.5 Technology Education: Given that IT Services industry good-quality health care. Wipro Cares works with partners

Wipro Limited 91
 who oversee the delivery of good quality primary health diverse as school education, support for the elderly and
care services to underserved communities covering more enhancing urban tree cover.
than 30000 people in 59 villages across Nagaland and
C. Ecology & Environment
Maharashtra. The North-East is relatively underserved in
terms of development and therefore, we thought that it is Managing economic development in a manner that
imperative to start engaging there. Our work in Nagaland does not compromise the ecological integrity of the
is in remote, inaccessible villages where health care environment has posed one of the biggest challenges to
access has been weak or non-existent till now. Similarly, mankind. It will be even more so in the coming decades
the work that we support in Maharashtra is in the remote of this century. The manifold problems of climate change,
tribal district of Gadchiroli. In both instances, the primary water scarcity, biodiversity loss and pollution require all
goals are to build the capacity of the local community in stakeholders to act. Responsible corporations can make a
managing their health needs, to augment government significant difference by aligning their resources, energy
infrastructure and in training health workers to address and commitment with these problems in a purposeful way.
the unique needs of the communities. Wipros engagement with these issues goes back several
B.2 Disaster Rehabilitation: Natural disasters like years and is based on the dual approach of (a) continually
earthquakes, floods and cyclonic storms are an unfortunate improving the energy, water, waste and biodiversity
fact of life. Whenever these happen, the disadvantaged footprint of our business operations and (b) engaging on
sections get affected the most as the already fragile basis community-level actions and advocacy on these issues.
of their livelihoods gets further disrupted. Starting with the We present below some salient highlights of our work in
Gujarat earthquake in 2001, we have responded to several 2015-16.
natural calamities wherein Wipros employees have also C.1 The Challenges of Urban Water: Water scarcity is
risen to the occasion and played a sterling role. By design, perhaps the top most challenge that faces large parts of
we focus on the more difficult challenge of long term the world including India. Many cities in India face this
rehabilitation of the affected communities. However, there problem in varying dimensions. The city of Bangalore has
are exceptions like the December floods in Chennai when seen plummeting ground water tables in the past few
we have also got involved in short term relief measures. years, especially in suburban areas like Sarjapur where we
During 2015-16, Unnati the rehabilitation project that have a large presence. Over the past three years, we have
we had initiated the previous year in Uttarakhand initiated strategic programs that seek to involve multiple
progressed well on multiple fronts. Our program seeks to stakeholders in systemically understanding and addressing
strengthen local livelihoods of communities in 22 villages the water problem. The Participative Ground Water
in the Uttarkashi district through improved farming Program in its second year, tries to address this problem
practices in organic agriculture. A farmers cooperative in the Sarjapur area in Bangalore which is completely
was set up during the year to strengthen market linkages, dependent on groundwater. By involving citizens, water
a crucial element in the whole value chain. Chennai saw experts and the government, we plan to develop model
unprecedented rains, floods and widespread damage in solution templates that combine the science of aquifers,
December 2015. The situation required immediate actions crucial regulatory changes and active involvement of
on several fronts. We partnered with Goonj to provide citizen groups in exchanging and implementing good
relief in terms of dry rations, food and other essentials to practices in rainwater harvesting and wastewater
thousands of flood affected people in Chennai, Tiruvallur, treatment. In parallel, the larger city-wide movement on
Kanchipuram and Cuddalore districts. As always, our water through the Karnataka State Water Network has
employees rose up to the occasion by contributing developed good traction with five geographic clusters and
generously and going the extra mile in volunteering for a lake cluster working on several initiatives together.
on-the-ground support. C.2. Urban Biodiversity: Our urban biodiversity program
B3. International Chapters: We initiated support for a addresses the twin goals of creating biodiversity in our
unique program in North America in partnership with urban campuses while also using it as a platform for wider
Washington based First Book. The program seeks to education and advocacy, our first two projects are in
encourage reading by providing free books to libraries our Electronic City, Bangalore and Pune campuses. After
of schools that primarily serve underprivileged children. completing the first phase of the butterfly park in the
Wipro employees across USA and Canada contributed E-City campus, the second phase of creating an aquatic
generously in terms of both, money and efforts. This along wetland zone is in an advanced stage of completion. The
with Wipros own funding support made it possible to Pune campus has also seen a transformation over the
donate more than 35000 books and education resources. last two years. While the number of native species has
Our Romania, Portugal and Philippines chapters also saw trebled, the creation of specific ecological spaces within
a wide variety of employee activities covering areas as the campus for example, an herbal garden and a kitchen

92 Annual Report 2015-16

 garden serves to illustrate the multidimensional benefits contribution that is matched by Wipro. Nearly one in three
of biodiversity. The importance of biodiversity being what employees or more than 50,000 Wiproites are contributors
it is, we have made it a central plank of our sustainability to Wipro Cares making this possibly the largest such
education program, Wipro-earthian as well as with our own initiative in India and one of the largest in the world. During
employees. 2015-16, nearly 7500 employees from across 21 chapters
collectively spent more than 13600 hours in voluntary
C.3 Urban Waste Management: Effective management of
engagement on a wide range of social initiatives. Involved
urban solid waste continues to be a high priority challenge
and engaged employees add great value to our programs.
for our cities. While the use of right technology, good
It also enhances their own sense of larger purpose and
governance and the active participation of civil society
alignment with the Companys Values.
are important determinants of success, the work of the
informal sector is often unrecognized. In this regard, we In conclusion, we would like to emphasize that running
continued to strengthen a project that we had initiated in our CSR initiatives on a bedrock of good governance is a
2014-15 which focuses on providing social, nutritional and matter of the highest priority. We do this by combining
health security to nearly 2000 workers in the informal sector multiple elements: (a) Robust board oversight through
in Bangalores waste management space. In addition, the regular updates and quarterly reviews (b) Large programs
program also provides a comprehensive skills upgradation like Wipro Cares and Wipro Applying Thought in Schools
program for about 200 such workers. Here, let us emphasize have their own board of trustees / governance committees
that in our internal operations, we continue to maintain that validate all important decisions and provide direction
the highest standards of waste management more than (c) Transparent and comprehensive reporting of our CSR
95% of our solid waste, including e-Waste, is processed programs in the public domain so that all stakeholders can
or disposed safely. In addition, we have been actively provide feedback.
supporting advocacy on effective handling of e-waste
We will continue to ensure that Wipros social initiatives
management at industry and civil society forums.
build on the foundation of the past while remaining alive
D. The Power of Engaged Employees to the changes needed in the future and responding
proactively. Our work will be meaningful, relevant and
Employees are integral to many of our social programs. long-term oriented rather than being driven by mere
The Wipro Cares trust is built on a model of employee compliance.

Wipro Limited 93
 Summary of CSR spend for 2015-16
1. A brief outline of the Companys CSR policy, including overview of the projects or programs undertaken or proposed to be undertaken is available at
www.wipro.com. Details are provided as part of Boards Report on page no. 90-93.
2. The Composition of the CSR Committee: The terms of reference of the Corporate Social Responsibility (CSR) broadly comprises and forms part of Board Governance,
Nomination and Compensation Committee and these terms of reference are in accordance with Section 135 of the Companies Act, 2013. The Committee comprises
Dr. Ashok Ganguly, Mr. N Vaghul and Mr. William Arthur Owens. During the financial year 2015-16, the Committee met five times and in each of the meetings,
update on CSR initiatives were discussed.
3. Average Net Profit of the Company for the last three financial years: ` 78,002 Million
4. Prescribed CSR Expenditure (two percent of the amount as in the point 3 above): 2% of the average PBT for the financial years 2013-14, 2014-15 and 2015-16
amounts to ` 1,560 Million; against this, our CSR spending for 2015-16 was ` 1,598.22 Million.
5. Details of the CSR spent during the financial year:
a) Total amount to be spent for the financial year: ` 1,560 Million
b) Amount unspent : Not applicable
c) Manner in which the amount is spent during the financial year is detailed below.
6. The following table provides a summary of the domain wise expenditure on CSR for 2015-16 along with the geographies. The list of partners with whom collaborate
is available right below the table.
7. In the column Cumulative expenditure till reporting period, we have chosen to take 2014-15 as the base year. It is however not to be interpreted that this is the
first year of our CSR programs. Many of our programs go back more than 10 years and some more than 15 years. Hence, we have considered to report cumulative
expenditure up to previous reporting period and cumulative expenditure up to reporting period.
8. All our programs are executed and implemented through our partners. The figures under the last column therefore are entirely through our partners.

(` in Million)
Sl. CSR project or Sector in which Projects or Programs 1) Local area or 2) Amount Amount Cumulative Cumulative Amount
No activities identified the project is other specify the state and district where Outlay spent on expenditure expenditure spent : direct
covered the project or programs are under taken (Budget) the projects upto previous upto or through
project or or Programs reporting reporting implementing
Program Wise period period agency
1 Providing preventive and Community Tuensang (Nagaland), Gadchiroli 4.00 3.80 12.70 16.50 3.80
curative health services Healthcare (Maharashtra)
with specific focus on
malnutrition and infant
mortality rate.
2 Education for Education for Mumbai, Pune (Maharashtra), Bangalore 16.00 17.90 26.00 43.90 17.90
Underprivileged in Underprivileged (Karnataka), Hyderabad (Telangana),
proximate communities Kolkata and Sunderbans (West Bengal),
Chennai (Tamil Nadu), New Delhi, Dimapur
(Nagaland)
Systemic reform in Education: Bongaigaon, Kokrajhar (Assam), Meghalaya, 56.80 61.63 71.70 133.33 61.63
school education in India Systemic Reforms Unakoti, Sepahijala, North District (Tripura),
Kolkata (West Bengal), Nainital, Almora
(Uttarakhand), Bilaspur, Hamirpur, Mandi,
Palampur, Shimla, Solan (Himachal Pradesh),
Chandigarh, Punjab, Gurgaon (Haryana),
Delhi, Bharatpur, Jaipur, Phagi (Rajasthan),
Bhopal (Madhya Pradesh), Kutch,
Panchmahal (Gujarat), Mumbai, Wardha
(Maharashtra), Bangalore, Chamrajnagar,
Koppal, Mysore (Karnataka), Hyderabad
(Telangana), Kurnool (Andhra Pradesh),
Chennai, Kanchipuram, Salem, Vellore (Tamil
Nadu), Kerala
Initiatives in Education of Education for Delhi (Delhi), Hyderabad (Telangana), 28.00 27.75 24.40 52.15 27.75
children with Disability Children with Bengaluru (Karnataka), Jaipur (Rajasthan),
Disability Mumbai, Pune (Maharashtra), Chennai
(Tamil Nadu)
Initiatives in sustainability Sustainability 45 districts in 21 states of India 19.80 22.50 25.10 47.60 22.50
education in schools and Education
colleges across India
Program of higher Higher Education Bangalore, Karnataka 948.90 961.63 772.50 1,734.13 961.63
education in engineering for skills building
and technology linked
to skills development for
the IT industry
Initiatives in improving Engineering All parts of India 10.00 6.56 8.00 14.56 6.56
education in engineering Education
colleges in India

94 Annual Report 2015-16

 (` in Million)
Sl. CSR project or Sector in which Projects or Programs 1) Local area or 2) Amount Amount Cumulative Cumulative Amount
No activities identified the project is other specify the state and district where Outlay spent on expenditure expenditure spent : direct
covered the project or programs are under taken (Budget) the projects upto previous upto or through
project or or Programs reporting reporting implementing
Program Wise period period agency
3 Ensuring environmental Water Bangalore, Karnataka 4.00 3.00 4.10 7.10 3.00
sustainability, ecological Biodiversity Bangalore, Karnataka; Pune, Maharashtra 6.00 7.10 8.10 15.20 7.10
balance, Agroforestry
Energy Bangalore, Karnataka; Pune, Maharashtra 450.00 466.32 361.00 827.32 466.32
Waste Bangalore, Karnataka 1.50 1.50 1.40 2.90 1.50
Management
Sustainability Bangalore, New Delhi, Mumbai, 9.00 11.93 7.40 19.33 11.93
Advocacy and Bhubhaneshwar and others (not location
Research dependent)
4 Rural Development Rural livelihood Uttarkashi (Uttarakhand) 3.00 2.80 4.60 7.40 2.80
projects programs

5 Providing essential Disaster Relief Chennai, Kancheepuram, Cuddalore, 3.00 3.80 - 3.80 3.80
materials to those Thiruvallur (Tamil Nadu)
affected by natural
disasters
Total 1,560.00 1,598.22 1,327.00 2,925.22 1,598.22
Note : Listing of implementing partner details are provided below.

9. A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy: Yes, is in compliance with CSR Policy and Objectives of the
Company.
Sd/- Sd/-

Azim H Premji Ashok S Ganguly

(Chairman and Managing Director) (Chairman of Board Governance,
Nomination and Compensation Committee)

Implementing Partner Details:

1. Jubayer Masud Educational Charitable Trust, Assam 40. Delhi Education Department
2. Vikramshila Education Resource Society, Kolkata 41. Yuvasatta
3. Shikshamitra, Kolkata 42. Punjab state council for science and technology
4. Pratham, Delhi 43. ENVIS Sikkim
5. Shiksharth, Delhi 44. Nature Forever Society
6. Jodogyan Shiksha, Delhi 45. BIOME Trust
7. Digantar Khelkud Evam Shiksha Samiti, Jaipur 46. Carbon Disclosure Project
8. Eklavya, Bhopal 47. ACWADAM
9. Muskaan, Bhopal 48. Hariyalee Landscapes
10. Janvikas, Ahmedabad 49. Smart Cities India Foundation
11. Akhil Bharatiya Nai Talim Samiti, Wardha 50. Confederation of Indian Industry
12. Avehi Public Charitable Trust, Mumbai 51. Ananya Trust, Bangalore
13. Vidya Mytri, Koppal 52. Aseema, Mumbai
14. Nature Conservation Foundation, Mysore 53. ASHA Foundation, Bangalore
15. Punarchith, Chamrajnagar 54. Ashray Akruti, Hyderabad
16. Ashoka Trust for Research in Ecology and Education, Bengaluru 55. Association for Rural and Urban Needy (ARUN), Kolkata
17. DOST Educational Foundation, Bengaluru 56. Community Educational Centre Society (CECS) Nagaland
18. Gubbachi, Bengaluru 57. Door Step School (DSS), Pune
19. National Centre for Biological Sciences, Bengaluru 58. Eleutheros Christian Society (ECS), Nagaland
20. The Teacher Foundation, Bengaluru 59. Goonj, Chennai
21. Center for Learning, Bengaluru 60. Gosaba Pachayat Committee, Sunderbans
22. EZ Vidya Pvt. Ltd, Chennai 61. Hasiru Dala, Bangalore
23. Goodbooks Trust, Chennai 62. Magic Bus, Bangalore
24. The Tiny Seed, Kottayam 63. Dnyangangotri Pratishthan, Pune
25. Bangalore Little Theater 64. National Association for the Blind (NAB), Delhi
26. ATREE 65. Olcott Education Society, Chennai
27. CEE 66. Prayas, Jaipur
28. BIOME Trust 67. Shri Bhuvaneshwari Mahila Ashram (SBMA), Uttarkashi
29. Factor Four 68. Shri Sadguru Sai Baba Seva Trust, Pune
30. CSTEP Bangalore 69. SEARCH, Gadchiroli
31. IIM Bengaluru 70. SOPAN, Mumbai
32. IIM Ahmedabad 71. Suniye, Delhi; Swadhar IDWC, Pune
33. Dakshin Foundation 72. Swanthana, Bangalore
34. RV College of Engineering Bengaluru 73. The Association of People with Disability (APD), Bangalore
35. Xavier University Bhubaneshwar 74. The Institution of Social Studies Trust (ISST), Delhi
36. CPREEC - Chennai 75. Towards Future, Kolkata
37. Eco-concept 76. V-Excel Education Trust, Chennai
38. AZTEC 77. Youngistaan Foundation, Hyderabad
39. Himachal State council for Science and Technology 78. Wipro Cares, Bangalore - Independent Public Trust

Wipro Limited 95
 Annexure VI
Form No. MGT-9
EXTRACT OF ANNUAL RETURN
as on the financial year ended on 31 March 2016
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies
(Management and Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS:

i. CIN L32102KA1945PLC020800
ii. Registration Date December 29, 1945
iii. Name of the Company Wipro Limited
iv. Category / Sub-Category of the Company Public Limited Company - Limited by Shares/Indian Non-Government
Company.
v. Address of the Registered office and contact Wipro Limited, Doddakannelli, Sarjapur Road, Bangalore 560035
details Ph: 080 28440011, Fax: 080 28440051
vi. Whether listed company Yes
vii. Name, Address and Contact details of Registrar Karvy Computershare Private Limited,
and Transfer Agent, if any Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District,
Nanakramguda, Hyderabad 500 032
Tel: +91 40 67161500
Fax: +91 40 23440674
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

All the business activities contributing 10 % or more of the total turnover of the company shall be stated:-

Sl. Name and Description of main NIC Code of the Product/ service % to total turnover of the company
No. products / services
1 IT Software, Services 62013 100%
and related activities 62020
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Sr. Name of the Company Address of the Company CIN/GLN Holding/ % of Applicable
No. Subsidiary/ shares Section
Associate held
1. Wipro LLC (formerly Wipro Inc.) 2 Tower Center Blvd, Suite 2200; East Brunswick, NJ 08816, USA N/A Subsidiary 100 2(87)
2. Wipro Gallagher Solutions, 810 Crescent Centre Drive, Suite 400, Franklin, TN 37067, USA N/A Subsidiary 100 2(87)
Inc.
3. Opus Capital Market 100 Tri State International, Ste, 300A Lincolnshire, IL 60069, USA N/A Subsidiary 100 2(87)
Consultants LLC
4. Infocrossing, Inc. 2 Christie Heights Street, Leonia, NJ 07605, USA N/A Subsidiary 100 2(87)
5. Wipro Promax Analytics 2 Tower Center Blvd, Suite 2200; East Brunswick, NJ 08816, USA N/A Subsidiary 100 2(87)
Solutions LLC
6. Wipro Data Centre and Cloud 2 Christie Heights Street, Leonia, NJ 07605, USA N/A Subsidiary 100 2(87)
Services, Inc.
7. Wipro Insurance Solutions 1209, Orange St, Wilmington, New Castle Country-19801, USA N/A Subsidiary 100 2(87)
LLC
8. Wipro IT Services, Inc. 2 Tower Cenyer Blvd., Ste. 2200, East Brunswick NJ. 08816, USA N/A Subsidiary 100 2(87)
9. Wipro Solutions Canada Atco Center,909 11th Ave SW,Calgary, AB T2R 1L7, Canada N/A Subsidiary 100 2(87)
Limited
10. HPH Holdings Corp. State of Delaware, 1209 Orange Street, City of Wilmington, N/A Subsidiary 100 2(87)
Country of New Castle, 19801, USA
11. Wipro Japan KK Yokohama Landmark Tower 26F #2605, 2-2-1-1 Minato-Mirai N/A Subsidiary 100 2(87)
2208126 Yokohama, Kanagawa, Japan

96 Annual Report 2015-16

 Sr. Name of the Company Address of the Company CIN/GLN Holding/ % of Applicable
No. Subsidiary/ shares Section
Associate held
12. Wipro Shanghai Limited F3, bldg9, Zhangjiang Hi-Tech Park, Shanghai, Chna N/A Subsidiary 100 2(87)
13. Wipro Information Hoogoorddreef 15, 1101 BA Amsterdam, The Netherlands N/A Subsidiary 100 2(87)
Technology Netherlands BV
14. Wipro Chengdu Limited 3/F, A3, Building, Tianfu Software Park, Tianfu Avenue, Hi-Tech N/A Subsidiary 100 2(87)
Zone, Chengdu, China 610041
15. Wipro (Thailand) Co Limited 152, Chartered Square Building, Unit 17-02B, North Sathorn N/A Subsidiary 100 2(87)
Road, Kwaeng Silom, Khet Bangrak, Bangkok, Thailand
16. Wipro Australia Pty Limited 1198 Toorak Road CamberwellMelbourneVictoria3124, PO Box N/A Subsidiary 100 2(87)
1143 Hartwell Victoria 3124 Australia
17. Wipro Technologies Limited, str. 1, 109028, dom 13, Khokhlovsky pereulok Moscow, Russia N/A Subsidiary 100 2(87)
Russia
18. Wipro Promax Holding Pty Unit 1, 7 Sky Close, Taylors Beach NSW 2316, Australia N/A Subsidiary 100 2(87)
Limited
19. Wipro Technologies Unit 1, 7 Sky Close, Taylors Beach NSW 2316, Australia N/A Subsidiary 100 2(87)
Australia Pty Ltd
20. Wipro Promax IP Pty Limited Unit 1, 7 Sky Close, Taylors Beach NSW 2316, Australia N/A Subsidiary 100 2(87)
21. PT WT Indonesia Regus Jakarta Menara Standard Chartered 30/F Menara N/A Subsidiary 100 2(87)
Standard Chartered Jl. 164 Jakarta. 12930. Indonesia
22. Wipro Travel Services Sarjapur Road, Doddakannelli, Bangalore 560035, India U91200KA1996PLC020622 Subsidiary 100 2(87)
Limited
23. Wipro Holdings (Mauritius) IFS Court, Twenty Eight, Cybercity, Ebene, Mauritius N/A Subsidiary 100 2(87)
Limited
24. Wipro Trademarks Holding Sarjapur Road, Doddakannelli, Bangalore 560035, India U93090KA1982PLC021795 Subsidiary 100 2(87)
Limited
25. Wipro Networks Pte Limited 31, Cantonment Road, Singapore 089747 N/A Subsidiary 100 2(87)
26. Wipro Technologies SDN Suite 702, 7th floor, Wisma Hangsam, Jalan Hang lekir, 50000, N/A Subsidiary 100 2(87)
BHD Kualalumpur, Malaysia
27. Wipro Airport IT Services Sarjapur Road, Doddakanelli, Bangalore 560035, India U72200KA2009PLC051272 Subsidiary 100 2(87)
Limited
28. Wipro BPO Philippines Cebu IT Tower 1 corner Archbishop Reyes Avenue and Mindanao N/A Subsidiary 100 2(87)
Limited, Inc. Street, Cebu Business Park, 6000 Cebu City,Cebu, Philippines
29. Wipro Information 7, Azattyk Ave., Atyrau city, Kazakhstan N/A Subsidiary 100 2(87)
Technology Kazakhstan LLP
30. Wipro IT Services Ukraine LLC Regus - 42 - 44 Shovkovychna Street, Kiev 01601, Ukraine N/A Subsidiary 100 2(87)
31. Wipro Arabia Limited Suite No. 209, Jarrir, Book Store Building, Alkhobar, PO Box 31349, N/A Subsidiary 100 2(87)
31952, Saudi Arabia.
32. Wipro Information B-124, Smart Village, Cairo-Alex Desert Road, Giza, Egypt N/A Subsidiary 100 2(87)
Technology Egypt SAE
33. Wipro Bahrain Limited WLL Seef Business Centre Building #2795 5th Floor # 510 Road 2835 N/A Subsidiary 100 2(87)
, Kingdom of Bahrain
34. Wipro Gulf LLC 322 Office # 28, KOM 4 Ground Floor, Knowledge Oasis Muscat, N/A Subsidiary 100 2(87)
Sultanate of Oman
35. Wipro Doha LLC Servcorp, Level 22, Tomado Tower,West Bay, Doha N/A Subsidiary 100 2(87)
36. Rainbow Software LLC D603, St.14, Building 43, Al Mansour, Baghdad, Iraq N/A Subsidiary 100 2(87)
37. Wipro Technologies SA DE CV Ave. Pedro Ramrez Vzquez 200-1, 4 Piso Valle Oriente, Garza N/A Subsidiary 100 2(87)
Garca, N.L., Mxico 66269
38. Wipro Do Brasil Technologia Joo Marchesini street, No. 139 - 5th and 6th floor Post Code: N/A Subsidiary 100 2(87)
LTDA 80215-432 Curitiba/Parana - Brazil
39. Wipro Do Brasil Sistemetas Av. Maria Coelho Aguiar, 215 Bloco B 6. Andar Jd. So N/A Subsidiary 100 2(87)
De Informatica Ltd LuisSo Paulo SP Zip code.: 05804-900, Brazil
40. Wipro Technoligies SA Carlos Pellegrini, 581 (Piso 7) 1009 Capital Federal, Buenos N/A Subsidiary 100 2(87)
Aires Argentina
41. Wipro Technologies Peru SAC Av.De la Floresta No. 497, Piso 5, San Borja, Lima, Peru N/A Subsidiary 100 2(87)
42. Wipro Technologies VZ, CA Av.Blandin, Torre B.O.D. La Castellana.Caracas, Venezuela. N/A Subsidiary 100 2(87)
43. Wipro Technologies W.T Escalante, Calle 31, Avenida 13, #2575, 7813-1000 San Jos, N/A Subsidiary 100 2(87)
Sociedad Anonima Costa Rica
44. Wipro Technologies Chile Andrs Bello 2711, 8th floor, Las Condes, Torre Costanera,CP N/A Subsidiary 100 2(87)
SPA 7550611, Santiago, CHILE.

Wipro Limited 97
Sr. Name of the Company Address of the Company CIN/GLN Holding/ % of Applicable
No. Subsidiary/ shares Section
Associate held
45. Wipro Information Millennium Park 6, A-6890 Lustenau, Austria N/A Subsidiary 100 2(87)
Technology Austria GmbH
46. Wipro Poland sp z.o.o. Arkonska Business Park, ul. Arkoska 6/A2, 2 Floor, 80-387 N/A Subsidiary 100 2(87)
Gdansk, Poland
47. Wipro IT Services Poland 16th Flr, (Millennium Plaza), Al. Jerozolimskie 123a, Warsaw N/A Subsidiary 100 2(87)
sp z.o.o. 02-017, Poland
48. Wipro Portugal SA Avenida Da Boavista, 1223, 4100-130, Portugal N/A Subsidiary 100 2(87)
49. Wipro Technologies Norway Martin Linges Vei 25, No.1364, Snaroya, Norway N/A Subsidiary 100 2(87)
AS
50. Wipro Technologies SRL TRUST CENTER Splaiul Independentei, nr 319C, sector 6, N/A Subsidiary 100 2(87)
Bucharest, Romania.
51. Wipro Technologoty Austria Millennium Park 6, A-6890 Lustenau, Austria N/A Subsidiary 100 2(87)
GmbH
52. Newlogic Technologies SARL 9/11 Allee de Larche, 92671 Courbevoie Cedex, France N/A Subsidiary 100 2(87)
53. Wipro Technologies GmbH Dusseldorferstr 71B, 40667 Meerbusch, Germany N/A Subsidiary 100 2(87)
54. Cellent AG Ringtrabe, 70, 70736 Fellbach, Germany N/A Subsidiary 100 2(87)
55. Cellent Mittelstandsberatung Schickardstr. 30, 71034 Bblingen, Germany N/A Subsidiary 100 2(87)
GmbH
56. cellent AG Austria Lassallestrae 7b, 1020 Vienna, Austria N/A Subsidiary 100 2(87)
57. Wipro Digital APS Philip Heymans Alle 7, 2900 Hellerup, Denmark N/A Subsidiary 100 2(87)
58. Designit A/S (Group Bygmestervej 61, 2400 Copenhagen NV, Denmark N/A Subsidiary 100 2(87)
Company)
59. Designit Denmark A/S Bygmestervej 61, 2400 Copenhagen NV, Denmark N/A Subsidiary 100 2(87)
60. Designit MunchenGmbH Steinerstrasse 15, building F, 81369 Munich N/A Subsidiary 100 2(87)
61. Designit Spain Digital S.L C/ Mrtires de Alcal 4, 1, 28015 Madrid N/A Subsidiary 100 2(87)
62. Designit Oslo A/S Storgata 53A, 0182 Oslo, Norway N/A Subsidiary 100 2(87)
63. Designit Sweden AB Norra Stationsgatan 99, 11364 Stockholm N/A Subsidiary 100 2(87)
64. Designit T.L.V Ltd. 2, Sapir St, Herzeliya Pituach N/A Subsidiary 100 2(87)
65. Designit Tokyo Ltd. The Park Rex Koamicho Bldg 8F, 11-8 Koamicho Nihombashi N/A Subsidiary 100 2(87)
Chuo-ku Tokyo 103-0016
66. Frontworx Lassallestrae 7b, 1020 Vienna, Austria N/A Subsidiary 100 2(87)
Informationstechnologie AG
67. Wipro Cyprus Pvt Ltd Diomidous 10, Alphamega-Akropolis Building, 3rd Floor, Office N/A Subsidiary 100 2(87)
401, 2024 Nicosia, Cyprus
68. Wipro Holdings Hungary Kft H-1143 Budapest, Stefnia t 101-103, Hungary N/A Subsidiary 100 2(87)
69. Wipro Outsourcing Services Dromore House #rd Floor,Eastpark Business Centre, Shannon N/A Subsidiary 100 2(87)
Ireland Limited , Co. Clare, Ireland
70. Wipro Holdings ( UK) Limited Devonshire House, 60 Goswell Road, London,EC1M 7AD, United N/A Subsidiary 100 2(87)
Kingdom
71. Wipro Europe Limited Devonshire House, 60 Goswell Road, London,EC1M 7AD, United N/A Subsidiary 100 2(87)
Kingdom
72. Wipro UK Limited Devonshire House, 60 Goswell Road, London,EC1M 7AD, United N/A Subsidiary 100 2(87)
Kingdom
73. Wipro Retail Uk Limited Devonshire House, 60 Goswell Road, London,EC1M 7AD, United N/A Subsidiary 100 2(87)
Kingdom
74. 3D Networks UK Ltd Devonshire House, 60 Goswell Road, London,EC1M 7AD, United N/A Subsidiary 100 2(87)
Kingdom
75. Wipro Promax Analytics Devonshire House, 60 Goswell Road, London, United Kingdom, N/A Subsidiary 100 2(87)
Solutions Europe Ltd EC1M 7AD
76. Wipro Technologies South The Forum, 10th Floor Office 16, 2 Maude Street, Sandton, N/A Subsidiary 100 2(87)
Africa PTY Ltd 2198, Johannesburg, South Africa
77. Wipro Technologies Nigeria 7th Floor, Mulliner Towers, 39 Alfred Rewane Road, (Kingsway N/A Subsidiary 100 2(87)
Limited Road), Ikoyi Lagos, Nigeria
78. Wipro Corporate 2nd Floor, Opeibea House, 37 Liberation Road, ACCRA, PO. BOX. N/A Subsidiary 100 2(87)
Technologies Ghana Ltd CT 9347 Cantonments, ACCRA, Ghana
79. Wipro Dalian Limited D7, Spring-Field Park, Ganjingzi District, Dalian, China, Peoples N/A Subsidiary 100 2(87)
Republic of China, Pin-116034

98 Annual Report 2015-16

 Sr. Name of the Company Address of the Company CIN/GLN Holding/ % of Applicable
No. Subsidiary/ shares Section
Associate held
80. Wipro Overseas IT Services Sarjapur Road, Doddakanelli, Bangalore 560035, India U72200KA2015PTC080266 Subsidiary 100 2(87)
Pvt Ltd
81. Healthplan Holdings, Inc. State of Delaware, 1209 Orange Street, City of Wilmington, N/A Subsidiary 100 2(87)
Country of New Castle, 19801, USA
82. Healthplan Services 3501 E Frontage Rd, Tampa, FL 33607, USA N/A Subsidiary 100 2(87)
Insurance Agency, Inc.
83. Healthplan Services, Inc. 3501 E Frontage Rd, Tampa, FL 33607, USA N/A Subsidiary 100 2(87)
84. Harrington Health Services State of Delaware, 1209 Orange Street, City of Wilmington, N/A Subsidiary 100 2(87)
Inc. Country of New Castle, 19801, USA
85. Designit Colombia SAS Carrera 48 #20-114, Torre 2, Piso 8 Oficina 0834 Medelln, N/A Subsidiary 100 2(87)
Colombia
86. Wipro SA Broad-based The Forum, 10th Floor Office 16, 2 Maude Street, Sandton, N/A Subsidiary 100 2(87)
Ownership Scheme SPV (RF) 2198, Johannesburg, South Africa
(Pty Ltd)

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)

(i) Category-wise Share Holding

CATE Category of Shareholders No. of Shares held at the beginning of the year No. of Shares held at the end of the year %
GORY (April 01, 2015) (March 31, 2016) Change
CODE during
Demat Physical Total % of Total Demat Physical Total % of
Shares Total the
Shares year
(A) PROMOTER AND PROMOTER
GROUP
(1) INDIAN
(a) Individual /HUF 95,419,432 - 95,419,432 3.86 95,419,432 - 95,419,432 3.86 -
(b) Central Government/State - - - - - - - - -
Government(s)
(c) Bodies Corporate (Promoter in 11,406,331 - 11,406,331 0.46 11,406,331 - 11,406,331 0.46 -
his capacity as Director of Private
Limited/Section 25 Companies)*
(d) Financial Institutions / Banks - - - - - - - - -
(e) Any Other -- Partnership firms 1,275,482,581 - 1,275,482,581 51.66 1,275,482,581 - 1,275,482,581 51.62 (0.04)
(Promoter in his capacity as
partner of Partnership firms)
(f) Others - Trust** 429,714,120 - 429,714,120 17.40 429,714,120 - 429,714,120 17.39 (0.01)
Sub-Total A(1) : 1,812,022,464 - 1,812,022,464 73.39 1,812,022,464 - 1,812,022,464 73.34 (0.05)
(2) FOREIGN
(a) Individuals (NRIs/Foreign - - - - - - - - -
Individuals)
(b) Bodies Corporate - - - - - - - - -
(c) Banks/FI - - - - - - - - -
(d) Others - - - - - - - - -
Sub-Total A(2) : - - - - - - - - -
Total A=A(1)+A(2) 1,812,022,464 - 1,812,022,464 73.39 1,812,022,464 - 1,812,022,464 73.34 (0.05)
(B) PUBLIC SHAREHOLDING
(1) INSTITUTIONS
(a) Mutual Funds /UTI 59,601,094 - 59,601,094 2.41 48,295,077 - 48,295,077 1.95 (0.46)
(b) Financial Institutions /Banks 6,985,967 - 6,985,967 0.28 9,418,428 - 9,418,428 0.38 0.10
(c) Central Government / State - - - - - - - - -
Government(s)
(d) Venture Capital Funds - - - - - - - - -
(e) Insurance Companies 41,128,824 - 41,128,824 1.67 55,168,621 - 55,168,621 2.23 0.56
(f) Foreign Institutional Investors 264,482,812 - 264,482,812 10.71 270,144,642 - 270,144,642 10.94 0.23
(g) Foreign Venture Capital Investors - - - - - - -
(h) Banks/FI - - - - - - -
(i) Others - - - - - - -
Sub-Total B(1) : 372,198,697 - 372,198,697 15.07 383,026,768 - 383,026,768 15.50 0.43

Wipro Limited 99
 CATE Category of Shareholders No. of Shares held at the beginning of the year No. of Shares held at the end of the year %
GORY (April 01, 2015) (March 31, 2016) Change
CODE during
Demat Physical Total % of Total Demat Physical Total % of
Shares Total the
Shares year
(2) NON-INSTITUTIONS
(a) Bodies Corporate 66,440,066 47,835 66,487,901 2.69 57,724,943 239,807 57,964,750 2.35 (0.34)
(b) NBFCs Registered with RBI - - - - 21,089 - 21,089 0.00 0.00
(c) Overseas Corporate Bodies 11,772 - 11,772 - 11,772 - 11,772 0.00 0.00
Individuals
(i) Individuals holding nominal 48,136,266 1,168,896 49,305,162 2 .00 54,102,846 1,752,175 55,855,021 2.26 0.26
share capital upto `1 lakh
(ii) Individuals holding nominal 50,873,322 23,914,929 74,788,251 3.03 43,663,026 22,507,907 66,170,933 2.68 (0.35)
share capital in excess of `1 lakh
(d) Others
Non Resident Indians 8,370,775 18,621,112 26,991,887 1.09 9,352,050 1,805,443 11,157,493 0.45 (0.64)
Foreign Bodies - DR - - - - 56,396 - 56,396 0.00 0.00
TRUSTS
(a) Wipro Equity Reward Trust*** 14,829,824 - 14,829,824 0.60 14,829,824 - 14,829,824 0.60 0.00
(b) Other Trusts 2,694,594 - 2,694,594 0.11 2,814,046 - 2,814,046 0.11 0.00
Non Executive Directors and 344,095 - 344,095 0.01 217,526 - 217,526 0.01 (0.01)
Executive Directors & Relatives****
Clearing Members 955,174 - 955,174 0.04 1,118,380 - 1,118,380 0.05 0.01
Foreign National 26,094 - 26,094 - 16,785,376 - 16,785,376 0.68 0.68
Sub-Total B(2) : 192,681,982 43,752,772 236,434,754 9.58 200,697,274 26,305,332 227,002,606 9.19 (0.39)
Total B=B(1)+B(2) : 564,880,679 43,752,772 608,633,451 24.65 583,724,042 26,305,332 610,029,374 24.69 0.04
Total (A+B) : 2,376,903,143 43,752,772 2,420,655,915 98.04 2,395,746,506 26,305,332 2,422,051,838 98.03 (0.01)
(C) Shares held by custodians,
against which Depository
Receipts have been issued
(1) Promoter and Promoter Group - - -
(2) Public 48,387,123 - 48,387,123 1.96 48,661,452 - 48,661,452 1.97 0.01
GRAND TOTAL (A+B+C) : 2,425,290,266 43,752,772 2,469,043,038 100 2,444,407,958 26,305,332 2,470,713,290 100
Note:
* Out of 11,406,331 Equity Shares, Mr.Azim H Premji disclaims beneficial ownership of 10,843,333 shares held by M/s Azim Premji Foundation (I) Pvt Ltd.
** Mr. Azim H Premji also disclaims the beneficial ownership 429,714,120 shares held by M/s Azim Premji Trust
*** 14,829,824 Equity Shares are held by Wipro Equity Reward Trust which is an employee benefit trust as per SEBI (Share Based Employee Benefits) Regulations, 2014
and is a Non Promoter- Non Public Shareholding.
**** Shareholding comprises 1,867 share held by one Non-Executive Director and 215,659 shares held by one Executive Director.

(ii) Shareholding of Promoters

Sl Shareholders Name Shareholding at the beginning of the year Share holding at the end of the year %
No. (April 01, 2015) (March 31, 2016) change in
No. of Shares % of total % of Shares Pledged No. of % of total % of Shares shareholding
Shares of the / encumbered to Shares Shares of the Pledged / encumbe during the
company total shares company red to total shares year
1 Azim H Premji 93,405,100 3.78 0 93,405,100 3.78 0 0
2 Yasmeen A Premji 1,062,666 0.04 0 1,062,666 0.04 0 0
3 Rishad A Premji 686,666 0.03 0 686,666 0.03 0 0
4 Tariq A Premji 265,000 0.01 0 265,000 0.01 0 0
5 Mr. Azim H Premji Partner 452,906,791 18.34 0 452,906,791 18.33 0 0
representing Prazim Traders
6 Mr. Azim H Premji Partner 451,619,790 18.29 0 451,619,790 18.28 0 0
representing Zash Traders
7 Mr. Azim H Premji Partner 370,956,000 15.02 0 370,956,000 15.01 0 0
representing Hasham Traders
8 Azim Premji Philanthropic 10,843,333 0.44 0 10,843,333 0.44 0 0
Initiatives Private Limited
9 Hasham Investment and 562,998 0.02 0 562,998 0.02 0 0
Trading Company Pvt Ltd*
10 Azim Premji Trust 429,714,120 17.40 0 429,714,120 17.39 0 0
Total 1,812,022,464 73.39 0 1,812,022,464 73.34 0 0
Note:
* Pursuant to Scheme of Amalgamation approved by the Honble High Court of Karnataka, vide its order dated March 26, 2015, the Equity Shares held by Napean
Trading and Investment Company Private Limited, Vidya Investment and Trading Company Private Limited and Regal Investments and Trading Company Private Limited
aggregating to 562,998 Equity Shares have been transferred to Hasham Investment and Trading Co. Private Limited on July 7, 2015.

100 Annual Report 2015-16

(iii) Change in Promoters Shareholding

Sl. Shareholding at the beginning of Cumulative Shareholding during the

No. the year (April 01, 2015) year (2015-16)
No. of shares % of total shares No. of shares % of total shares
of the company of the company
1. At the beginning of the year (April 01, 1,812,022,464 73.39 1,812,022,464 73.34
2015)
2. Date wise Increase / Decrease in - - - -
Promoters Share holding during the
year specifying the reasons for increase/
decrease (e.g. allotment / transfer /
bonus/ sweat equity etc):
3. At the End of the year (March 31, 2016) 1,812,022,464 73.39 1,812,022,464 73.34
Note: While there is no change in the shareholding of the Promoter & Promoter Group, there is a change in the percentage of the
total outstanding shares of the Company due to periodic allotment of shares during the year 2015-16 pursuant to exercise of Stock
Options by the employees
(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):

Sl. For Each of the Top 10 Shareholders Shareholding at the beginning of Cumulative Shareholding during
No. the year the year
No. of shares % of total shares No. of shares % of total shares
of the company of the company
1. At the beginning of the year
(April 01, 2015)
2. Date wise Increase / Decrease
in Shareholding during the year
specifying the reasons for increase /
Refer Annexure A
decrease (e.g. allotment / transfer /
bonus / sweat equity etc):
3. At the End of the year ( or on the
date of separation, if separated
during the year)
(v) Shareholding of Directors and Key Managerial Personnel:

Sl. For Each of the Directors and KMP Shareholding at the beginning of Cumulative Shareholding during
No. the year (April 1, 2015) the year (2015-16)

No. of shares % of total shares No. of shares % of total shares

of the company of the company
1. At the beginning of the year
2. Date wise Increase / Decrease in
Shareholding during the year specifying
the reasons for increase / decrease (e.g. Refer Annexure B
allotment / transfer / bonus/ sweat
equity etc):
3. At the End of the year (March 31, 2016)

Wipro Limited 101

(V) INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
(` in Million)
Indebtedness of the Company including Secured Loans Unsecured Deposits Total
interest outstanding/accrued but not due excluding deposits Loans Indebtedness
for payment
Indebtedness at the beginning of the
financial year
i) Principal Amount 1,729 59,296 - 61,025
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - 127 - 127
Total (i+ii+iii) 1,729 59,423 - 61,152
Change in Indebtedness during the financial
year
Addition 1,210 121,859 - 123,069
Reduction 902 118,862 - 119,764
ERF (Gain)/Loss for foreign currency loans - 3798 - 3,798
Net Change 308 6,795 - 7,103
Indebtedness at the end of the financial
year
i) Principal Amount 2,037 66,092 - 68,129
ii) Interest due but not paid - - - -
iii) Interest accrued but not due - 126 - 126
Total (i+ii+iii) 2,037 66,218 - 68,255
Note: Obligation undre finance lease is secured by underlying fixed assets. These obligation are repayable in periodic installments up to year ending
March 31, 2020. The interest rate for these obligations ranges from 0.21% to 13.84%
(VI) REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director, Whole-time Directors and/or Manager

(` in Crores)
Sl. Particulars of Remuneration Name of MD/WTD/ Manager
no.
Azim H Premji Rishad A Premji* T K Kurien Abidali Z
Neemuchwala**
1. Gross salary
(a) Salary as per provisions contained in 0.30 0.50 1.96 3.70
section 17(1) of the Income-tax Act, 1961
-
(b) Value of perquisites u/s 17(2) Income-tax
Act, 1961 - - -
2. Stock Options (amoritised value of stock - - 6.88 3.81
options)
3. Sweat Equity - - - -
4. Commission
- as % of net profits 0.92 - - -
- others
5. Others- Variable Pay - 0.83 2.49 2.33
6. Allowances & Other Annual Compensation 0.72 0.68 1.75 1.99
7. Retirals 0.23 0.14 0.58 0.14
Total (A) 2.17 2.15 13.66 11.96
Ceiling as per the Act `1,083 Crores (being 10 % of Net Profits of the Company as calculated as under
Section 198 of the Companies Act 2013)
* Mr. Rishad A Premji was appointed as wholetime director effective May 1, 2015. Compensation shared above is for the period from April 1, 2015
to March 31, 2016.
** Mr. Abidali Z Neemuchwala was appointed as Chief Executive Officer and Executive Director effective February 1, 2016. Compensation shared
above is for the period from April 1, 2015 to March 31, 2016 and the figures mentioned are ` equivalent of amounts paid in US$.

102 Annual Report 2015-16

 B. Remuneration to other directors 2015-16:

Sl. Particulars of Remuneration Name of Directors

no.
1. Independent Directors
Fee for attending board committee meetings
Commission
Others, please specify
Total (1)
Refer Annexure C
2. Other Non-Executive Directors
Fee for attending board committee meetings
Commission
Others, please specify
Total (2)
Total (B)=(1+2) ` 6.95 Crores
Total Managerial Remuneration (A + B) ` 36.89 Crores
Overall Ceiling as per the Act ` 1,191.19 Crores (being 11% of Net Profits of the Company as
calculated as under Section 198 of the Companies Act 2013).
C. Remuneration to Key Managerial Personnel Other Than MD /Manager /WTD
(` in Crores)
Sl. Particulars of Remuneration Key Managerial Personnel
no. Chief Financial Officer Company Secretary*
1. Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax 0.50 0.66
Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961
(c) Profits in lieu of salary under section 17(3) Income-tax Act, 1961
2. Stock Option (amortised value of stock options) 1.90
3. Sweat Equity
4. Commission
- as % of profit
- others
5. Others- Variable Pay 0.65 0.22
6. Allowances & Other Annual Compensation 0.64
7. Retirals 0.14 0.04
Total 3.83 0.92
* Mr. M Sanaulla Khan was appointed as Company Secretary and Compliance Officer of the Company effective June 3, 2015
The Remuneration paid to Mr. V Ramachandran for the period from April 01, 2015 to April 22, 2015 was ` 10,05,099/-. Details provided below.
Gross Salary: ` 891,500/-
Value of perquisites: ` 111,347/-
Retirals: ` 2,252/-
(VII) PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:
There were no penalties, punishment or compounding of offences during the year ended March 31, 2016.

Wipro Limited 103

Annexure A

Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):

SHAREHOLDING PATTERN OF TOP 10 SHAREHOLDERS BETWEEN April 01, 2015 AND March 31, 2016
(OTHER THAN DIRECTORS, PROMOTERS AND HOLDERS OF GDR AND ADRs)
Sl. Date of Nature of Name of the Share Holder Shareholding at the Cumulative Shareholding
no. Transaction Transaction beginning of the Year during the Year
No. of % of total No. of % of total
Shares outstanding Shares outstanding
shares of the shares of the
company company
1 01/04/2015 Opening Balance LIFE INSURANCE CORPORATION OF INDIA 40,541,183 1.64 40,541,183 1.64
08/05/2015 Purchase 1,243,385 0.05 41,784,568 1.69
15/05/2015 Purchase 1,890,233 0.08 43,674,801 1.77
22/05/2015 Purchase 1,057,509 0.04 44,732,310 1.81
29/05/2015 Purchase 1,751,531 0.07 46,483,841 1.88
05/06/2015 Purchase 397,576 0.02 46,881,417 1.90
17/07/2015 Purchase 25,609 - 46,907,026 1.90
31/07/2015 Purchase 24,538 - 46,931,564 1.90
30/09/2015 Sale 559,747 0.02 46,371,817 1.88
02/10/2015 Sale 561,628 0.02 45,810,189 1.86
09/10/2015 Sale 1,199,498 0.05 44,610,691 1.81
16/10/2015 Sale 545,269 0.02 44,065,422 1.79
27/11/2015 Purchase 304,430 0.01 44,369,852 1.80
04/12/2015 Purchase 280,396 0.01 44,650,248 1.81
11/12/2015 Purchase 325,110 0.01 44,975,358 1.82
18/12/2015 Purchase 940,849 0.04 45,916,207 1.86
25/12/2015 Purchase 769,879 0.03 46,686,086 1.89
08/01/2016 Purchase 547,476 0.02 47,233,562 1.91
15/01/2016 Purchase 997,556 0.04 48,231,118 1.95
22/01/2016 Purchase 814,945 0.03 49,046,063 1.98
29/01/2016 Purchase 868,947 0.04 49,915,010 2.02
05/02/2016 Purchase 100,010 - 50,015,020 2.02
19/02/2016 Purchase 569,480 0.02 50,584,500 2.04
26/02/2016 Purchase 526,349 0.02 51,110,849 2.06
04/03/2016 Purchase 415,881 0.02 51,526,730 2.08
11/03/2016 Purchase 554,304 0.02 52,081,034 2.10
18/03/2016 Purchase 937,129 0.04 53,018,163 2.14
25/03/2016 Purchase 41,015 - 53,059,178 2.14
31/03/2016 Closing Balance - 53,059,178 2.14
2 01/04/2015 Opening Balance ABDULREHMAN HAJI EBRAHIM COCHINWALA (shares in 17,221,818 0.70 17,221,818 0.7
custody of Custodian of enemy property)
31/03/2016 Closing Balance - 17,221,818 0.7
3 01/04/2015 Opening Balance ALCO COMPANY PRIVATE LIMITED 16,787,000 0.68 16,787,000 0.68
31/03/2016 Closing Balance - 16,787,000 0.68
4 01/04/2015 Opening Balance WIPRO EQUITY REWARD TRUST 14,829,824 0.60 14,829,824 0.6
31/03/2016 Closing Balance - 14,829,824 0.6
5 01/04/2015 Opening Balance STICHTING PENSIOENFONDS ABP 12,441,230 0.50 12,441,230 0.5
17/04/2015 Sale 642,941 0.03 11,798,289 0.47
24/04/2015 Sale 4,229 - 11,794,060 0.47
01/05/2015 Sale 67,019 - 11,727,041 0.47
08/05/2015 Sale 114,684 - 11,612,357 0.47
15/05/2015 Purchase 92,611 - 11,704,968 0.47
29/05/2015 Sale 228,381 0.01 11,476,587 0.46
17/07/2015 Purchase 21,889 - 11,498,476 0.47
07/08/2015 Purchase 47,845 - 11,546,321 0.47
21/08/2015 Sale 11,546,321 0.47 - -
31/03/2016 Closing Balance - - -

104 Annual Report 2015-16

 SHAREHOLDING PATTERN OF TOP 10 SHAREHOLDERS BETWEEN April 01, 2015 AND March 31, 2016
(OTHER THAN DIRECTORS, PROMOTERS AND HOLDERS OF GDR AND ADRs)
Sl. Date of Nature of Name of the Share Holder Shareholding at the Cumulative Shareholding
no. Transaction Transaction beginning of the Year during the Year
No. of % of total No. of % of total
Shares outstanding Shares outstanding
shares of the shares of the
company company
6 01/04/2015 Opening Balance ATEM ENTERPRISES LLP 11,950,000 0.48 11,950,000 0.48
31/03/2016 Closing Balance - 11,950,000 0.48
7 01/04/2015 Opening Balance WGI EMERGING MARKETS FUND LLC 10,791,902 0.44 10,791,902 0.44
03/07/2015 Purchase 89,673 - 10,881,575 0.44
04/09/2015 Purchase 207,015 0.01 11,088,590 0.45
09/10/2015 Purchase 1,059,913 0.04 12,148,503 0.49
06/11/2015 Purchase 1,090,856 0.04 13,239,359 0.53
04/12/2015 Purchase 548,385 0.02 13,787,744 0.55
05/02/2016 Purchase 220,285 0.01 14,008,029 0.56
04/03/2016 Purchase 122,379 - 14,130,408 0.56
31/03/2016 Closing Balance - 14,130,408 0.56
8 01/04/2015 Opening Balance CREDIT SUISSE (SINGAPORE) LIMITED 10,591,897 0.43 10,591,897 0.43
10/04/2015 Purchase 397,804 0.02 10,989,701 0.45
17/04/2015 Sale 269,315 0.01 10,720,386 0.44
24/04/2015 Sale 172,381 0.01 10,548,005 0.43
01/05/2015 Sale 52,090 - 10,495,915 0.43
08/05/2015 Sale 358,938 0.01 10,136,977 0.42
15/05/2015 Sale 92,752 0.01 10,044,225 0.41
22/05/2015 Sale 34,500 - 10,009,725 0.41
29/05/2015 Sale 18,006 - 9,991,719 0.41
05/06/2015 Sale 96,606 0.01 9,895,113 0.4
12/06/2015 Purchase 236,938 0.01 10,132,051 0.41
19/06/2015 Sale 154,055 0.01 9,977,996 0.42
26/06/2015 Sale 637,752 0.03 9,340,244 0.39
03/07/2015 Purchase 23,395 - 9,363,639 0.38
10/07/2015 Purchase 103 - 9,363,742 0.38
17/07/2015 Sale 2,368 - 9,361,374 0.38
24/07/2015 Purchase 334 - 9,361,708 0.38
31/07/2015 Sale 188,597 0.01 9,173,111 0.37
07/08/2015 Sale 251,721 0.01 8,921,390 0.36
14/08/2015 Sale 140,534 0.01 8,780,856 0.35
21/08/2015 Sale 171,801 0.01 8,609,055 0.34
28/08/2015 Sale 262,696 0.01 8,346,359 0.33
04/09/2015 Sale 162,937 0.01 8,183,422 0.32
11/09/2015 Sale 49,126 - 8,134,296 0.32
18/09/2015 Sale 82,046 - 8,052,250 0.32
25/09/2015 Sale 1,266,190 0.05 6,786,060 0.27
30/09/2015 Sale 112,304 - 6,673,756 0.27
09/10/2015 Sale 20,441 - 6,653,315 0.27
16/10/2015 Purchase 540,508 0.02 7,193,823 0.29
23/10/2015 Purchase 137,415 0.01 7,331,238 0.3
30/10/2015 Purchase 122,269 - 7,453,507 0.3
06/11/2015 Purchase 69,644 - 7,523,151 0.3
13/11/2015 Sale 34,313 - 7,488,838 0.3
20/11/2015 Purchase 22,105 - 7,510,943 0.3
27/11/2015 Sale 27,841 - 7,483,102 0.3
04/12/2015 Purchase 13,084 - 7,496,186 0.3
11/12/2015 Purchase 9,087 - 7,505,273 0.3
18/12/2015 Sale 195,861 0.01 7,309,412 0.29
25/12/2015 Purchase 87,200 - 7,396,612 0.29

Wipro Limited 105

 SHAREHOLDING PATTERN OF TOP 10 SHAREHOLDERS BETWEEN April 01, 2015 AND March 31, 2016
(OTHER THAN DIRECTORS, PROMOTERS AND HOLDERS OF GDR AND ADRs)
Sl. Date of Nature of Name of the Share Holder Shareholding at the Cumulative Shareholding
no. Transaction Transaction beginning of the Year during the Year
No. of % of total No. of % of total
Shares outstanding Shares outstanding
shares of the shares of the
company company
31/12/2015 Purchase 28,342 - 7,424,954 0.29
01/01/2016 Sale 5,237 - 7,419,717 0.29
08/01/2016 Sale 121,274 - 7,298,443 0.29
15/01/2016 Sale 860,344 0.03 6,438,099 0.26
22/01/2016 Sale 30,352 - 6,407,747 0.26
29/01/2016 Sale 13,155 - 6,394,592 0.26
05/02/2016 Sale 281,918 0.01 6,112,674 0.25
12/02/2016 Sale 79,805 - 6,032,869 0.25
19/02/2016 Sale 457,095 0.02 5,575,774 0.23
26/02/2016 Sale 298,463 0.01 5,277,311 0.22
04/03/2016 Sale 342,296 0.01 4,935,015 0.21
11/03/2016 Sale 326,073 0.01 4,608,942 0.20
18/03/2016 Sale 286,871 0.01 4,322,071 0.19
25/03/2016 Sale 79,675 - 4,242,396 0.19
31/03/2016 Sale 27,683 - 4,214,713 0.19
31/03/2016 Closing Balance - 4,214,713 0.19
9 01/04/2015 Opening Balance HSBC GLOBAL INVESTMENT FUNDS A/C HSBC GIF 10,451,556 0.42 10,451,556 0.42
MAURITIUS
01/05/2015 Purchase 107,961 0.01 10,559,517 0.43
31/07/2015 Sale 40,167 - 10,519,350 0.43
07/08/2015 Sale 109,833 0.01 10,409,517 0.42
28/08/2015 Sale 333,185 0.01 10,076,332 0.41
04/09/2015 Sale 176,419 0.01 9,899,913 0.40
11/09/2015 Sale 23,581 - 9,876,332 0.40
18/09/2015 Sale 110,024 0.01 9,766,308 0.39
25/09/2015 Sale 200,000 0.01 9,566,308 0.38
30/09/2015 Sale 17,748 - 9,548,560 0.38
02/10/2015 Sale 248,541 0.01 9,300,019 0.37
09/10/2015 Sale 430,116 0.02 8,869,903 0.35
04/12/2015 Sale 62,608 - 8,807,295 0.35
22/01/2016 Sale 283,498 0.01 8,523,797 0.34
05/02/2016 Sale 211,206 0.01 8,312,591 0.33
31/03/2016 Closing Balance - 8,312,591 0.33
10 01/04/2015 Opening Balance ABU DHABI INVESTMENT AUTHORITY - GULAB 9,569,045 0.39 9,569,045 0.39
22/05/2015 Sale 85,000 - 9-484045 0.38
29/05/2015 Sale 619,538 0.03 8,864,507 0.35
05/06/2015 Sale 68,949 - 8,795,558 0.35
24/07/2015 Purchase 23,972 - 8,819,530 0.35
21/08/2015 Sale 29,583 - 8,789,947 0.35
28/08/2015 Sale 150,602 0.01 8,639,345 0.34
04/09/2015 Sale 17,038 - 8,622,307 0.34
20/11/2015 Sale 39,881 - 8,582,426 0.34
27/11/2015 Sale 133,364 0.01 8,449,062 0.33
04/12/2015 Sale 159,100 0.01 8,289,962 0.32
26/02/2016 Sale 43,193 - 8,246,769 0.32
04/03/2016 Sale 12,540 - 8,234,229 0.32
18/03/2016 Sale 1,092,761 0.04 7,141,468 0.28
31/03/2016 Closing Balance - 7,141,468 0.28

Opening Balance denotes: As on April 01, 2015

Closing Balance denotes: As on March 31, 2016

106 Annual Report 2015-16

Annexure B:
Shareholding of Directors and Key Managerial Personnel:
Name of the Directors and Date of the transaction Shareholding at the Cumulative Shareholding
Key Managerial Personnel beginning of the year during the year
No. of % of total No. of % of total
Shares shares of the Shares shares of the
Company Company
Azim Premji*
Chairman and Managing Director Opening Balance - 01/04/ 2015 95,419,432 3.86 - -
Purchase/ Sales - - -
Closing Balance 31/03/2016 95,419,432 3.86 95,419,432 3.86
Rishad Premji
Executive Director and Chief Strategy
Officer Opening Balance - 01/04/ 2015 686,666 0.03 - -
Purchase/ Sales - - -
Closing Balance 31/03/2016 686,666 0.03 686,666 0.03
Ashok S Ganguly
Independent Director Opening Balance - 01/04/ 2015 1,867 0.00 - -
Purchase/ Sales - - -
Closing Balance 31/03/2016 1,867 0.00 1,867 0.00
N Vaghul
Independent Director Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Closing Balance 31/03/2016 - - - -
Jagdish N Sheth
Independent Director Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Closing Balance 31/03/2016 - - - -
William A Owens
Independent Director Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Closing Balance 31/03/2016 - - - -
T K Kurien
Executive Vice- Chairman Opening Balance - 01/04/ 2015 161,842 0.006 - -
Purchase - 07/09/2015 (ESOP) 53,817 0.002 - -
Closing Balance 31/03/2016 215,659 0.008 215,659 0.008

Abidali Z Neemuchwala Opening Balance - 01/04/ 2015 - - - -

Chief Executive Officer and Executive Director Purchase/Sales - - - -
Closing Balance 31/03/2016 - - - -
M K Sharma
Independent Director Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Closing Balance 31/03/2016 - - - -
Vyomesh Joshi
Independent Director Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Closing Balance 31/03/2016 - - - -
Ireena Vittal - - -
Independent Director Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Jatin P Dalal
Chief Financial Officer Opening Balance - 01/04/ 2015 1,412 0.00 - -
Purchase- 17/11/2015(ESOP) 7,288 0.00
Sale- 22/01/2016 7,500 0.00
Closing Balance 31/03/2016 1200 0.00 1,200 0.00
M Sanaulla Khan
Company Secretary Opening Balance - 01/04/ 2015 - - - -
Purchase/ Sales - - - -
Closing Balance 31/03/2016 - - - -
Note:
* includes shares held jointly with immediate family members.

Wipro Limited 107

Annexure C

Remuneration to other directors 2015-16:

(` in Crores)
Particulars of Remuneration Name of Independent Directors
Dr. Ashok S Dr. Jagdish N Mr. M K Mr. William Ms Ireena Mr. Vyomesh
Independent Directors Mr. N Vaghul
Ganguly Sheth* Sharma Owens* Vittal Joshi*
Sitting fees for attending board
and committee meetings 0.03 0.02 0.006 0.02 0.02 0.03 0.001
Commission 0.51 0.41 1.55 0.40 2.00 0.39 1.55
Others, please specify - - - - - - -
TOTAL (1) 0.54 0.43 1.56 0.42 2.02 0.42 1.56

Other Non-Executive Directors Not Applicable

Fee for attending board

Not Applicable
committee meetings
Commission Not Applicable
Others, please specify Not Applicable
TOTAL (2) 0 0 0 0 0 0 0
Total (1+2) 0.54 0.43 1.56 0.42 2.02 0.42 1.56
* Figures mentioned are rupee equivalent as amount paid in USD

108 Annual Report 2015-16

 CORPORATE GOVERNANCE
REPORT 2015-16
I. Wipros Philosophy on Corporate Governance In this report, we have provided details on how the
corporate governance principles are put in to practice
We believe in adopting best practices of corporate
within Wipro.
governance and focus on enhancement of long term
stakeholder value without compromising on ethical II. Board of Directors
standards and corporate social responsibilities. Corporate
Composition of Board
governance philosophy of Wipro is put into practice through
robust board governance processes, internal control As at March 31, 2016, our Board had seven non-executive
systems and processes, and strong audit mechanisms. directors and four executive directors, of which one
These are articulated through Companys Code of Business executive director is the Chairman and Managing Director
Conduct, Corporate Governance Guidelines and charters of of our Board. All the seven non-executive directors are
various sub-committees of the Board of Directors (Board) Independent Directors and free from any business or
and Companys Disclosure Policy. other relationship that could materially influence their
judgment. All the Independent Directors satisfy the criteria
The Spirit of Wipro represents core values of Wipro
of independence as defined under the Companies Act,
framed around these Corporate Governance principles
2013, the Securities and Exchange Board of India (Listing
and practices. The three values encapsulated in the Spirit
Obligations and Disclosure Requirements) Regulations,
of Wipro are:
2015 (Listing Regulations) and the New York Stock
Exchange Listed Company manual. The profiles of our
Act with Directors are given at page no. 18 onwards.
Intensity to Win Sensitivity
Make customers Information Flow to the Board Members
Respect for the
successful individual Information is provided to the Board Members on a
Team, innovate Thoughtful and continuous basis for their review, inputs and approval
and excel responsible from time to time. More specifically, we present our annual
Strategic Plan and Operating Plans of our business to
Unyielding the Board for their review, inputs and approval. Likewise,
Integrity our quarterly financial statements and annual financial
Delivering on statements are first presented to the Audit Committee and
commitments subsequently to the Board of Directors for their approval. In
Honesty and fairness
addition, specific cases of acquisitions, important managerial
in action
decisions, material positive/negative developments and
statutory matters are presented to the Committees of the
Board and later with the recommendation of Committee to
Corporate Governance philosophy is put into practice at the Board of Directors for their approval.
Wipro through the following four layers, namely,
Governance by Shareholders, As a system, in most cases, information to Directors is
submitted along with the agenda papers well in advance of
Governance by Board of Directors the Board meeting. Inputs and feedback of Board Members
Governance by Sub-committees of Board, and are taken and considered while preparation of agenda and
Governance through management process documents for the Board meeting.

Wipro Limited 109

 We regularly schedule meetings of our business heads # Mr. M K Sharma did not attend the Board meetings held
and functional heads with the Directors. These meetings on October 20, 2015 and January 4, 2016.
facilitate Directors to provide their inputs and suggestions
** Ms. Ireena Vittal, Dr. Ashok S Ganguly, Mr. William Arthur
on various strategic and operational matters directly to the
Owens, Mr. Vyomesh Joshi and Mr. T K Kurien did not
business and functional heads.
attend the Board Meeting held on June 3, 2015
Board Meetings
## Dr. Jagdish N Sheth did not attend the Board meetings
We decide about the Board meeting dates in consultation held on June 3, 2015 and January 16, 2016.
with Board Governance, Nomination and Compensation
@ Mr. Abidali Z Neemuchwala was appointed as Chief
Committee and all our directors, based on the practices
Executive Officer and Executive Director with effect
of earlier years. Once approved by the Board Governance,
from February 1, 2016.
Nomination and Compensation Committee, the schedule
of the Board meeting and Board Committee meetings is ^ Mr. Vyomesh Joshi participated through teleconference
communicated in advance to the Directors to enable them in the meeting held on April 21, 2015.
attend the meetings. Our Board meetings are normally Post-Meeting Follow-up System
scheduled over two days.
After the Board meeting, we have formal system of
In addition, every quarter, Independent Directors meet follow up, review and reporting on actions taken by the
amongst themselves exclusively. management on the decisions of the Board and sub-
The Board met six times during the financial year 2015-16 committees of the Board.
on April 20-21, 2015, June 3, 2015, July 22-23, 2015, October Lead Independent Director
20-21, 2015, January 4, 2016, and January 16-18, 2016. The
The Board has designated Mr. N Vaghul as the Lead
necessary quorum was present for all the meetings. The
Independent Director. The role of the Lead Independent
maximum interval between any two meetings did not
Director is described in the Corporate Governance
exceed 120 days.
guidelines of your Company and is available on the
Details of attendance of directors at the Board Meetings Companys website www.wipro.com.
during the year 2015-16 is provided below:
Appointment of Directors
Name Designation Number of The provisions of the Companies Act, 2013 with respect
Board Meetings to appointment and tenure of the Independent Directors
attended have come into effect from April 1, 2014. As per the said
Mr. Azim H Chairman and 6 provisions, the Independent Directors shall be appointed
Premji Managing Director for not more than two terms of maximum of five years each
Mr. N Vaghul Independent 6 and shall not be liable to retire by rotation.
Director
Your Board has adopted the provisions with respect
Mr. M K Independent 4# to appointment and tenure of Independent Directors
Sharma Director
consistent with the Companies Act, 2013 and the Listing
Ms. Ireena Independent 5 ** Regulations.
Vittal Director
Dr. Ashok S Independent 5** Details of Directors proposed for re-appointment/
Ganguly Director appointment at the ensuing Annual General Meeting is
provided on page nos. 68 and 69 of the Boards Report and
Mr. William Independent 5 **
Arthur Owens Director in Annexure A to the notice convening the 70th Annual
General Meeting.
Mr. Vyomesh Independent 5 **^
Joshi Director Policy for Selection and Appointment of Directors and
Dr. Jagdish N Independent 4 **## their Remuneration
Sheth Director Board Governance, Nomination and Compensation
Mr. T K Kurien Executive Vice 5 ** Committee has adopted a charter which, inter alia, deals
Chairman with the manner of selection of Board of Directors and
Mr. Abidali Z Chief Executive -@ payment of their remuneration. The policy is accordingly
Neemuchwala Officer and derived from the said charter.
Executive Director
Mr. Rishad A Executive Director 5 Criteria of Selection of Independent Directors
Premji and Chief Strategy The Board Governance, Nomination and Compensation
Officer

110 Annual Report 2015-16

 Committee considers the following attributes/criteria, Remuneration Policy and Criteria of Making Payments
whilst recommending to the Board the candidature for to Directors, Senior Management and Key Managerial
appointment as Independent Director. Personnel
Qualification, expertise and experience of the The Independent Directors are entitled to receive
Directors in their respective fields such as expertise remuneration by way of sitting fees, reimbursement
or experience in Information Technology Business, of expenses for participation in the Board/Committee
Scientific Research & Development, International meetings and commission as detailed hereunder:
Markets, Leadership, Risk Management and Strategic
An Independent Director shall be entitled to
Planning etc.
receive sitting fees for each meeting of the Board or
Personal, professional or business standing Committee of the Board attended by him, of such sum
as may be approved by the Board of Directors within
Diversity of the Board.
the overall limits prescribed under the Companies
In case of appointment of Independent Directors, the Board Act, 2013 and the Companies (Appointment and
Governance, Nomination and Compensation Committee Remuneration of Managerial Personnel) Rules, 2014,
satisfies itself with regard to the independence of the as amended from time to time.
Directors vis--vis the Company so as to enable the Board
An Independent Director is also be entitled to receive
to discharge its functions and duties effectively.
commission on a quarterly basis, of such sum as
The Board Governance, Nomination and Compensation may be approved by the Board and shareholders
Committee ensures that the candidates identified on the recommendation of the Board Governance,
for appointment as Directors are not disqualified for Nomination and Compensation Committee. The total
appointment under Section 164 and other applicable commission payable to the Independent Directors
provisions of the Companies Act, 2013. shall not exceed 1% of the net profits of the Company
during any financial year.
In case of re-appointment of Independent Directors, the
Board takes into consideration the performance evaluation The commission is payable on pro-rata basis to those
of the Independent Directors and their engagement level. Directors who occupy office for part of the year.
The Independent Directors of the Company are not
Familiarization Programme for Independent Directors
entitled to participate in the stock option schemes of
The Board is responsible for overall supervision of the the Company.
Company. To achieve this, Board undertakes periodic
In determining the remuneration of Chairman and
review of various matters including business wise
Managing Director, Executive Directors, Senior
performance, risk management, borrowings, internal
Management Employees and Key Managerial Personnel,
audit/external audit reports etc. In order to enable the
the Board Governance, Nomination and Compensation
Directors to fulfill the governance role, comprehensive
Committee and Board shall ensure/consider the following:
presentations are made on the various businesses, business
models, risk minimization procedures and new initiatives the relationship of remuneration and performance
of the Company. Changes in domestic/overseas corporate benchmark is clear.
and industry scenario including their effect on the
the balance between fixed and incentive pay reflecting
Company, statutory and legal matters are also presented
short and long term performance objectives,
to the Directors on a periodic basis. Details regarding
appropriate to the working of the Company and its
familiarization programme imparted by the Company
goals.
is available on our website at http://www.wipro.com/
investors/corporate-governance/policies-and-guidelines . the remuneration is divided into two components
viz. fixed component comprising salaries, perquisites,
Further, at the time of appointment of an Independent
retirement benefits and a variable component
Director, the Company issues a formal letter of appointment
comprising performance bonus.
outlining his/her role, function, duties and responsibilities
as a Director. The template of the letter of appointment the remuneration including annual increment and
is available on our website at http://www.wipro.com/ performance bonus is decided based on the criticality
investors/corporate-governance/policies-and-guidelines . of the roles and responsibilities, the Companys
performance vis--vis the annual achievement,
Board Evaluation
individuals performance vis--vis KRAs / KPIs, industry
Details of methodology adopted for Board evaluation have benchmark and current compensation trends in the
been provided on page no. 69 of the Boards Report. market.

Wipro Limited 111

 The Board Governance, Nomination and Compensation Details of Remuneration to Directors
Committee recommends the remuneration for the
Details of remuneration paid to the Directors for the
Chairman and Managing Director, other Executive
services rendered and stock options granted during the
Directors, Senior Management and Key Managerial
financial year 2015-16 are given below. No stock options
Personnel. The payment of remuneration to Executive
were granted to any of the Independent Directors and
Directors is approved by the Board and Shareholders.
Promoter Directors during the year 2015-16.
Prior approval of shareholders is also obtained in case of
remuneration to non-executive directors.
(in `)

Dr. Ashok S Ganguly

Neemuchwala^*
Vyomesh Joshi*

Rishad A Premji
William Arthur
Azim H Premji

Dr. Jagdish N

Ireena Vittal
M K Sharma
T K Kurien

Abidali Z
N vaghul

Owens*
Sheth*

Relationship with Father of None None None None None None None None None Son of
directors Rishad A Azim H
Premji Premji
Salary 3,000,000 - - 19,620,466 - - - 37,039,006 4,999,920
Allowances 1,310,184 - - 16,286,425 - - - 19,875,000 6,700,969
Commission/ 9,250,771 5,116,667 15,546,622 4,116,666 19,786,622 24,946,642 3,958,334 15,546,622 3,916,667 23,267,886 8,273,020
Incentives/
Variable Pay
Other annual 5,849,725 - - 70,049,196 - - - 38,101,823 112,976
compensation
Retirals 2,318,870 - - - - 5,788,037 - - - 1,405,579 1,474,976
Sitting fees - 340,000 60,000 200,000 240,000 - 240,000 100,000 260,000 - -
Grant of Restricted - - - - - 75,000** - - - 200,000** -
Stock Units
Notice period Up to 180 - - - - Up to 180 - - - Up to 180 Up to 180
days days days days
* Figures mentioned in ` are equivalent to amounts paid in US$
** The RSUs granted will vest as per the vesting pattern approved by the Board Governance, Nomination and Compensation Committee and the expiration
for these grants are as under:
Mr. T K Kurien May 2018
Mr. Abidali Z Neemuchwala May 2020
^ Mr. Abidali Z Neemuchwala was appointed as the Chief Executive Officer and Executive Director, effective February 1, 2016. Compensation shared above
is for the period from April 1, 2015 to March 31, 2016.

Terms of Employment Arrangements we may determine, and to comply with confidentiality

Under the Companies Act, 2013, our shareholders provisions. Service contracts with our Executive Directors
must approve the salary, bonus and benefits of all and officers provide for our standard retirement benefits
Executive Directors. Each of our Executive Directors that consist of a pension and gratuity which are offered
has signed an agreement containing the terms and to all of our employees, but no other benefits upon
conditions of employment, including a monthly salary, termination of employment except as mentioned below.
performance bonus and benefits including vacation, Pursuant to the terms of Mr. T K Kuriens employment, he
medical reimbursement and pension fund contributions. is entitled to the following severance payments:
These agreements have varying terms ranging from one a. If the agreement is terminated by the Company on
to five year periods, but either we or the Executive Director or prior to November 17, 2016, the Company will pay
may generally terminate the agreement upon six months Mr. Kurien severance pay based on salary for a
notice to the other party. period of three months. In case of termination by
The terms of our employment arrangements with the Company, the unvested ESOPs /RSUs shall vest
Mr. Azim H Premji, Mr. T K Kurien, Mr. Abidali Z Neemuchwala proportionately to the completed months in service
and Mr. Rishad A Premji provide for up to a 180-days notice from the last vesting/grant date of each grant,
period, up to 21 days of leave per year in addition to whichever is later, till the last date of employment.
statutory holidays, and an annual compensation review. b. If the agreement is terminated by the Company
Additionally, these officers are required to relocate as after November 17, 2016, the exit will be in line with

112 Annual Report 2015-16

 retirement policy including vesting of unvested We also indemnify our directors and officers for claims
ESOPs/RSUs. Prior notice in such a case will be for at brought under any rule of law to the fullest extent
least a month. permitted by applicable law. Among other things, we agree
Pursuant to the terms of Mr. Abidali Z Neemuchwala s to indemnify our Directors and Officers for certain expenses,
employment, he is entitled to the following severance judgments, fines and settlement amounts incurred by any
payment : such person in any action or proceeding, including any
action by or in the right of the Company, arising out of such
If the Agreement is terminated by the Company, the persons services as our Director or Officer, including claims
Company is required to pay Mr. Neemuchwala severance which are covered by the Directors and Officers liability
pay equivalent of 12 months base pay. insurance policy taken by the Company.

Key Information pertaining to Directors as on March 31, 2016 is given below:

Sl. Name of the Director Designation Date of Date of appointment Directorship Chairmanship Membership Attendance No. of shares Director
No. appointment as Independent in other in in Committee at the last held as on Identification
Director under companies* Committees of Board AGM held March 31, number
Companies Act,2013 of Board of other on July 22, 2016
and SEBI Listing of other Companies 2015
Regulations Companies
1 Azim H Premji Chairman and Managing 01-Sep-1968 - 13 1 - Yes 95,419,432@ 00234280
Director (designated as
Executive Chairman)
2 N Vaghul Independent Director 09-Jun-1997 23-Jul-2014 8 3 3 Yes - 00002014
3 Dr. Ashok S Ganguly Independent Director 01-Jan-1999 23-Jul-2014 2 1 - Yes 1,867 00010812
4 M K Sharma Independent Director 01Jul-2011 23-Jul-2014 8 1 4 Yes - 00327684
5 Dr. Jagdish N Sheth Independent Director 01-Aug-2015 23-Jul-2014 - - - Yes - 00332717
6 T K Kurien^ Executive Vice- Chairman 01-Feb-2011 - - - - Yes 215,659 03009368
7 William Arthur Owens Independent Director 01-Jul-2006 23-Jul-2014 - - - Yes - 00422976
8 Vyomesh Joshi Independent Director 01-Oct-2012 23-Jul-2014 - - - Yes - 06404484
9 Ireena Vittal Independent Director 01-Oct-2013 23-Jul-2014 8 - 8 Yes - 05195656
10 Rishad A Premji# Executive Director and 01-May-2015 - 3 - - Yes 686,666 02983899
Chief Strategy Officer
11 Abidali Z Chief Executive Officer 01-Feb-2016 - - - - - - 02478060
Neemuchwala# and Executive Director

* This does not include position in foreign companies, position as an advisory board member but includes position in private companies.
@ includes shares held jointly with immediate family members.
# Mr. Abidali Z Neemuchwala was appointed as Chief Executive Officer and Executive Director effective February 1, 2016 and Mr. Rishad A Premji was
appointed as Executive Director and Chief Strategy Officer with effect from May 1, 2015.
^ Mr. T K Kurein was re-appointed with effect from February 1, 2016 as Executive Vice-Chairman.
Note: Dr. Patrick J Ennis and Mr. Patrick Dupuis were appointed as Independent Directors on the Board of the Company with effect from April 1, 2016.

III. Committees of Board Board Governance, Nomination and Compensation

Committee which also oversees the CSR initiatives of
Our Board has constituted sub-committees to focus on
the Company
specific areas and make informed decisions within the
authority delegated to each of the Committees. Each Strategy Committee
Committee of the Board is guided by its Charter, which
Administrative and Shareholders/Investors Grievance
defines the scope, powers and composition of the
Committee (Stakeholders Relationship Committee)
Committee. All decisions and recommendations of the
Committees are placed before the Board for information Audit, Risk and Compliance Committee
or approval.
The Audit, Risk and Compliance Committee of the Board,
We have four sub-committees of the Board as at March 31, reviews, acts on and reports to our Board with respect to
2016. various auditing and accounting matters. The primary
responsibilities of the Committee, inter-alia, are;
Audit, Risk and Compliance Committee

Wipro Limited 113

 Auditing and accounting matters, including Board Governance, Nomination and Compensation
recommending the appointment of our independent Committee
auditors to the shareholders;
The primary responsibilities of the Board Governance,
Compliance with legal and statutory requirements; Nomination and Compensation Committee are:
Integrity of the Companys financial statements, Developing and recommending to the Board
discussions with the independent auditors regarding corporate governance guidelines applicable to the
the scope of the annual audits, and fees to be paid to Company;
the independent auditors;
Evaluating the Board on a continuing basis, including
Performance of the Companys internal audit function, an assessment of the effectiveness of the full
independent auditors and accounting practices; Board, operations of the Board Committees and
Review of related party transactions and functioning contributions of individual Directors;
of whistle blower mechanism; and Establishing policies and procedures to assess the
Implementation of the applicable provisions of the requirements for induction of new members to the
Sarbanes Oxley Act of 2002, including review of the Board;
progress of internal control mechanisms to prepare Implementing policies and processes relating to
for certification under Section 404 of the Sarbanes corporate governance principles;
Oxley Act of 2002.
Ensuring that appropriate procedures are in place
The Chairman of the Audit, Risk and Compliance Committee to assess Board membership needs and Board
was present at the Annual General Meeting held on July effectiveness;
22, 2015. The detailed charter of the Committee is posted
Reviewing the Companys policies that relate to
on our website and available at http://www.wipro.com/
matters of Corporate Social Responsibility (CSR),
investors/corporate-governance/charters/.
including public issues of significance to the
All members of our Audit, Risk and Compliance Committee Company and its shareholders;
are Independent Directors and financially literate. The
Developing and recommending to the Board for its
Chairman of our Audit, Risk and Compliance Committee
approval an annual evaluation process of the Board
has the accounting and financial management related
and its Committees;
expertise.
Formulating the Disclosure Policy, its review and
Statutory Auditors as well as Internal Auditors always have
approval of disclosures;
independent meetings with the Audit, Risk and Compliance
Committee and also participate in the Audit, Risk and Determining and approving salaries, benefits
Compliance Committee meetings. and stock option grants to senior management
employees and Directors of our Company;
Our Chief Financial Officer, General Counsel and other
Corporate Officers make periodic presentations to the Approving and evaluating the compensation plans,
Audit, Risk and Compliance Committee on various issues. policies and programs for full-time Directors and
senior management; and
The Audit, Risk and Compliance Committee met seven
times during the year 2015-16 on April 20, 2015, May 23, Acting as Administrator of the Companys Employee
2015, June 3, 2015, July 22, 2015, October 20, 2015, January Stock Option Plans and Employee Stock Purchase
16, 2016 and March 1, 2016. Plans drawn up from time to time.

Composition of the Audit, Risk and Compliance Committee Pursuant to the provisions of the Companies Act, 2013
and details of attendance of members at its meetings and the Listing Regulations, the Board has carried out an
during the year 2015-16 is given below: Annual Performance Evaluation of its own performance,
the Directors individually as well as the evaluation of
Number of meetings the working of its Board Governance, Nomination and
Name Position Compensation Committee.
attended*
Mr. N Vaghul Chairman 7 The Board Governance, Nomination and Compensation
Committee met five times during the year 2015-16 on April
Mr. M K Sharma Member 6
20, 2015, July 22, 2015, October 20, 2015, January 4, 2016
Ms. Ireena Vittal Member 5 and January 16, 2016.
* All the members participated over tele-conferencing at Composition of the Board Governance, Nomination and
the meeting held on May 23, 2015. Compensation Committee and details of attendance of

114 Annual Report 2015-16

 members at its meetings during the year 2015-16 is given Administrative and Shareholders/Investors Grievance
below: Committee (Stakeholders Relationship Committee)
Name Position Number of The Administrative and Shareholders/Investors Grievance
meetings attended Committee carries out the role of Stakeholders Relationship
Dr. Ashok S Ganguly Chairman 5 Committee in compliance with Section 178 of the
Mr. N Vaghul Member 5 Companies Act, 2013 and the Listing Regulations.
Mr. William Arthur Member 5 The Administrative and Shareholders/Investors Grievance
Owens Committee is responsible for resolving investors complaints
pertaining to share transfers, non-receipt of annual reports,
The detailed charter of Board Governance, Nomination and
Compensation Committee is posted on our website and is Dividend payments, issue of duplicate share certificates,
available at http://www.wipro.com/investors/corporate- transmission of shares and other shareholder related
governance/charters/. queries, complaints etc.

Strategy Committee In addition to above, the Administrative and Shareholders/

Investors Grievance Committee is also empowered to
The Strategy Committee reviews, acts and reports to our oversee administrative matters like opening/closure of
Board with respect to the mission, vision and strategic Companys Bank accounts, grant and revocation of general,
direction of the Company. Primary responsibilities of this specific and banking powers of attorney, consider and
Committee, inter alia, are: approve allotment of equity shares pursuant to exercise
Making recommendations to the Board relating to of stock options, setting up branch offices and other
the Companys mission, vision, strategic initiatives, administrative matters as delegated by Board from time
major programs and services; to time.
Ensuring management has established an effective Mr. M K Sharma, Independent Director, is the Chairman of
strategic planning process, including development the Administrative and Shareholders/Investors Grievance
of a three to five year strategic plan with measurable Committee.
goals and time targets;
The Administrative and Shareholders/Investors Grievance
Annually reviewing the strategic plan for the Company
Committee met four times during the year 2015-16 on April 20,
and for each division and entity and recommending
2015, July 22, 2015, October 20, 2015 and January 17, 2016. In
updates to the Board;
addition, this Committee reviews once in 15 days the investor
Establishing criteria for management to evaluate complaints and redressal of shareholders queries.
potential strategic investments, reviewing proposals
for acquisition or divestment opportunities for the Composition of the Administrative and Shareholders/
Company and making appropriate recommendations Investors Grievance Committee and details of attendance
to the Board, and reviewing post-transaction of members at its meetings during the year 2015-16 is given
integration matters; below:
Assisting in the development of a strategic dashboard Name Position Number of
of key indicators; and meetings attended
Monitoring the organizations performance against Mr. M K Sharma Chairman 3
measurable targets (e.g. market share, increase in
Mr. T K Kurien Member 4
revenue, or operating margin) or progress points
(such as emerging technologies). Ms. Ireena Vittal* Member 3

The Strategy Committee met twice in the financial year on * Ms. Ireena Vittal was appointed as a member with effect
April 20, 2015 and January 16, 2016. from April 21, 2015
Composition of the Strategy Committee and details of Status Report of investor queries and complaints for the
attendance of members at its meetings during the year period from April 1, 2015 to March 31, 2016 is given below:
2015-16 is given below:
Sl. Particulars No. of
Name Position Number of No. Complaints
meetings attended 1 Investor complaints pending NIL
Mr. William Arthur Chairman 2 at the beginning of the year
Owens 2 Investor complaints received 619
Dr. Jagdish N Sheth Member 1 during the year
Mr. Vyomesh Joshi Member 2 3 Investor complaints disposed 619
of during the year
Mr. Azim H Premji Member 2
4 Investor complaints remaining NIL
Mr. T K Kurien Member 2 unresolved at the end of the year

Wipro Limited 115

 Apart from these queries/complaints, there are certain Committee. Considering that the Companys securities are
pending cases relating to dispute over title to shares in listed on New York Stock Exchange, parity in disclosures are
which in certain cases the Company has been made a party. maintained through simultaneous disclosure on National
However, these cases are not material in nature. Stock Exchange of India Limited, the Bombay Stock
Exchange Limited and the New York Stock Exchange.
Mr. M Sanaulla Khan, Company Secretary is our Compliance
Officer under the Listing Regulations. Ombuds Policy
IV. Governance Through Management process The Company has adopted an ombuds process which is
a channel for receiving and redressing complaints from
Code of Business Conduct
employees and directors. Under this policy, we encourage
In the year 1983, we articulated Wipro Beliefs consisting our employees to report any fraudulent financial or other
of six statements. At the core of beliefs was integrity, information to the stakeholders, any conduct that results
articulated as individual and Company relationship should in violation of the Companys Code of Business Conduct,
be governed by the highest standard of conduct and to management (on an anonymous basis, if employees
integrity. so desire). Likewise, under this policy, we have prohibited
discrimination, retaliation or harassment of any kind
Over years, this articulation has evolved in form but
against any employees who, based on the employees
remained constant in substance. Today we articulate it as
reasonable belief that such conduct or practice have
Code of Business Conduct.
occurred or are occurring, reports that information or
In our Company, the Board and all employees have a participates in the investigation. Mechanism followed on
responsibility to understand and follow the Code of under ombuds process is appropriately communicated
Business Conduct. All employees are expected to perform within the Company across all levels and has been
their work with honesty and integrity. Wipros Code of displayed on Wipros intranet and on Wipros website at
Business Conduct reflects general principles to guide http://www.wipro.com/investors/corporate-governance/
employees in making ethical decisions. This Code is also policies-and-guidelines/.
applicable to our representatives. This Code outlines
Policy for Preservation of Documents
fundamental ethical considerations as well as specific
considerations that need to be maintained for professional Pursuant to the requirements under Regulation 9 of
conduct. This Code has been displayed on the Companys the Listing Regulations, the Board has formulated and
website at http://www.wipro.com/investors/corporate- approved a Document Retention Policy prescribing the
governance/policies-and-guidelines/. manner of retaining the Companys documents and the
time period up to certain documents are to be retained.
Code for Prevention of Insider Trading
The policy percolates to all levels of the organization who
The Company has adopted a Code of Conduct to regulate, handle the prescribed categories of documents.
monitor and report trading by insiders under the SEBI
Policy for Prevention, Prohibition & Redressal Sexual
(Prohibition of Insider Trading) Regulations, 2015. This
Harassment of Women at Workplace
Code of Conduct also includes code for practices and
procedures for fair disclosure of unpublished price Pursuant to the requirements of Sexual Harassment of
sensitive information and has been made available on the Women at Workplace (Prevention, Prohibition & Redressal)
Companys website at http://www.wipro.com/investors/ Act, 2014, your Company has a policy and framework
corporate-governance/policies-and-guidelines/. for employees to report sexual harassment cases at
workplace and our process ensures complete anonymity
Disclosure Policy
and confidentiality of information. Adequate workshops
In line with requirements under regulation 30 of the and awareness programmes against sexual harassment
Listing Regulations, the Company has framed a policy on are conducted across the organization.
disclosure of material events and information as per the
Compliance Committee
Listing Regulations, which is available on our website at
http://www.wipro.com/investors/corporate-governance/ We have a Compliance Committee which considers matters
policies-and-guidelines/. The objective of this policy is relating to Wipros Code of Business Conduct, Ombuds
to have uniform disclosure practices and ensure timely, process, Code for Prevention of Insider Trading and other
adequate and accurate disclosure of information on an applicable statutory matters. The Compliance Committee
ongoing basis. The Company has constituted a Disclosure met three times during the year 2015-16 and submitted its
Committee consisting of senior officials, which approves report to the Audit, Risk and Compliance Committee for its
all disclosures required to be made by the Company. The review and consideration.
Company Secretary acts as Secretary to the Disclosure

116 Annual Report 2015-16

 V. Disclosures accounting year or which has generated 20% of the
consolidated income of the Company during the previous
Disclosure of Materially Significant Related Party
financial year.
Transactions
Certificate on Corporate Governance
All related party transactions that were entered into
during the financial year were at an arms length basis The certificate dated June 3, 2016 issued by Mr. V
and were in the ordinary course of business. There are no Sreedharan, Partner, V Sreedharan & Associates, Company
materially significant related party transactions made by Secretaries, is given at page no. 129 of this Annual Report in
the Company with Promoters, Directors, Key Managerial compliance with corporate governance norms prescribed
Personnel or other designated persons which may have a under the Listing Regulations.
potential conflict with the interest of the Company at large.
Details of non-compliance by the Company, penalties, and
As required under regulation 23 of Listing Regulations, strictures imposed on the Company by Stock Exchanges
the Company has adopted a policy on Related Party or SEBI or any statutory authority, on any matter related
Transactions. The abridged policy on Related Party to capital markets, during the last three years.
Transactions is available on the Companys website at
The Company has complied with the requirements of
http://www.wipro.com/investors/corporate-governance/
the Stock Exchanges or SEBI on matters related to Capital
policies-and-guidelines/.
Markets, as applicable, during the last three years.
Apart from receiving director remuneration, none of the
Whistle Blower Policy and affirmation that no
Directors has any pecuniary relationships or transactions
personnel have been denied access to the Audit, Risk
vis--vis the Company. During the year 2015-16, no
& Compliance Committee
transactions of material nature were entered into by the
Company with the Management or their relatives that may As mentioned earlier in this report, the Company has
have a potential conflict of interest with the Company and adopted an Ombuds process which is a channel for
the concerned officials have given undertakings to that receiving and redressing employees complaints. No
effect as per the provisions of the Listing Regulations. personnel in the Company has been denied access to the
Audit, Risk and Compliance Committee or its Chairman.
The Register under Section 188 of the Companies Act, 2013
is maintained and particulars of transactions have been Disclosures with respect to demat suspense account/
entered in the Register, wherever applicable. unclaimed suspense account (Unclaimed Shares)
Subsidiary Monitoring Framework Pursuant to Regulation 39 of the Listing Regulations,
reminder letters have been sent to shareholders whose
All the subsidiary companies of the Company are managed
shares remain unclaimed from the Company. Based on
by their Boards having the rights and obligations to
their response, such shares will be transferred to unclaimed
manage these Companies in the best interest of respective
suspense account as per the provisions of schedule VI of
stakeholders. The Company nominates its representatives
the Listing Regulations. The disclosure as required under
on the Board of subsidiary companies and monitors
schedule V of the Listing Regulations is given below:
performance of such companies, inter alia, by reviewing;
(a) Aggregate number of shareholders and the
Financial statements, in particular the investment
outstanding shares in the suspense account lying at
made by the unlisted subsidiary companies,
the beginning of the year- Nil
statement containing all significant transactions
and arrangements entered into by the unlisted (b) Number of shareholders who approached listed entity
subsidiary companies forming part of the financials for transfer of shares from suspense account during
being reviewed by the Audit, Risk and Compliance the year- Nil
Committee of your Company on a quarterly basis.
(c) Number of shareholders to whom shares were
Minutes of the meetings of the unlisted subsidiary transferred from suspense account during the year-
companies, if any, are placed before the Companys Nil
Board regularly.
(d) Aggregate number of shareholders and the
Providing necessary guarantees, Letter of Comfort outstanding shares in the suspense account lying at
and other support for their day-to-day operations the end of the year- Nil
from time-to- time.
(e) Voting rights on these shares shall remain frozen till
The Company does not have any material subsidiary whose the rightful owner of such shares claims the shares-
net worth exceeds 20% of the consolidated net worth NA
of the holding Company in the immediately preceding

Wipro Limited 117

 Shareholder Information 4. Separate posts of Chairperson and Chief Executive
Officer
Various shareholder information required to be disclosed
pursuant to Schedule V of the Listing Regulations are Mr. Azim H Premji is the Chairman and Managing
provided in Annexure I to this report. Director of the Company and Mr. Abidali Z
Neemuchwala is the Chief Executive Officer of the
Compliance with Mandatory Requirements Company. The Companys Board consists of majority
Your Company has complied with all the mandatory of Independent Directors. All policy and strategic
corporate governance requirements under the Listing decisions of the Company are taken through a
Regulations. Specifically, your Company confirms majority decision of this independent Board.
compliance with corporate governance requirements 5. Reporting of Internal Auditor
specified in regulation 17 to 27 and clauses (b) to (i) of sub-
regulation (2) of regulation 46 of the Listing Regulations. Reporting of Head of Internal Audit is to the
Chairman of the Audit Committee of the Board and
VI. Compliance Report on Non-mandatory requirements administratively to the Chief Finanical Officer. Head
under Regulation 27(1) of Internal Audit has regular and exclusive meetings
with the Audit Committee prior to reports of Internal
1. The Board
Audit getting discussed with the Management Team.
As per para A of Part E of Schedule II of the Listing
6. NYSE Corporate Governance Listing Standards
Regulations, a non-executive Chairman of the Board
may be entitled to maintain a Chairmans Office at the The Company has made this disclosure in compliance
companys expense and also allowed reimbursement with the New York Stock Exchange Listing Standards
of expenses incurred in performance of his duties. The and NYSE Listed Company Manual on its website
Chairman of the Company is an Executive Director www.wipro.com/investors/corp-governance and
and hence this provision is not applicable to us. has filed the same with the New York Stock Exchange
(NYSE).
2. Shareholders rights
Declaration as required under Regulation 34(3) and
We display our quarterly and half yearly results on Schedule V of the Listing Regulations
our web site www.wipro.com and also publish our
results in widely circulated newspapers. We have All Directors and senior management personnel of the
communicated the payment of dividend by e-mail Company have affirmed compliance with Wipros Code of
to shareholders in addition to dispatch of letters Business Conduct for the financial year ended March 31,
to all shareholders. We publish the voting results 2016.
of shareholder meetings and make it available on
our website www.wipro.com, and report the same
to Stock Exchanges in terms of regulation 44 of the
Listing Regulations.
3. Modified opinion(s) in audit report Azim H Premji
The Auditors have issued an un-qualified opinion on Place : Bangalore Chairman
the financial statements of the Company. Date: June 03, 2016

118 Annual Report 2015-16

ANNEXURE I Appointment of Dr. Jagdish N Sheth as an Independent
Director
Shareholder Information
Appointment of Mr. William Arthur Owens as an
Corporate Identity Number (CIN)
Independent Director
O ur Cor porate Identit y Number (CIN), allotted by
Appointment of Mr. M K Sharma as an Independent Director
Ministry of Company Affairs, Government of India is
L32102KA1945PLC020800, and our Company Registration Appointment of Ms. Ireena Vittal as an Independent
Number is 20800. Director
Annual General Meeting Adoption of new substituted Articles of Association to align
with the provisions of Companies Act, 2013
Annual General Meeting for the year ended March 31, 2016 is
scheduled to be held on Monday, July 18, 2016 at 4.00 p.m at Amendments to Wipro Employee Restricted Stock Unit
Wipro Campus, Cafeteria Hall EC-3, Ground Floor, Opp. Tower 8, Plan 2004, Wipro Employee Restricted Stock Unit Plan 2005,
No. 72, Keonics Electronic City, Hosur Road, Bangalore 561229. Wipro Employee Restricted Stock Unit Plan 2007 and Wipro
Equity Reward Trust Employee Stock Purchase Scheme
The facility to appoint a proxy to represent the members at the
2013, and Wipro Equity Reward Trust (WERT).
meeting is also available for the members who would be unable
to attend the meeting. You are required to fill a proxy form and Payment of remuneration to Non-Executive Directors
send it to us latest by July 16, 2016 before 4 pm. You can also
No resolution was passed through postal ballot during the
cast your vote electronically by following the instructions of
financial year 2014-15.
e-voting sent separately.
For the Year 2014-15, we had our Annual General Meeting on
Annual General Meetings and Other General Body meeting
July 22, 2015 at 4.00 pm. The meeting was held at Wipro Campus,
of the Last Three Years and Special Resolutions, if any.
Cafeteria Hall EC-3, Ground Floor, Opp. Tower 8, No. 72, Keonics,
For the Year 2012-13, we had our Annual General Meeting on Electronic City, Hosur Road, Bangalore 561229. The following
July 25, 2013 at 4.00 pm. The meeting was held at Wipro Campus, resolutions were passed at the meeting:
Cafeteria Hall EC-3, Ground Floor, Opp. Tower 8, No. 72, Keonics,
Re-appointment of Mr. Azim H Premji (DIN 00234280),
Electronic City, Hosur Road, Bangalore 561229. The following
as Executive Chairman and Managing Director of the
resolutions were passed at the meeting:
Company (special resolution)
Appointment of Mr. Vyomesh Joshi as Director
Appointment of Mr. Rishad Azim Premji (DIN 02983899), as
Re-appointment of Mr. Azim H Premji as Chairman and Whole-time Director of the Company (ordinary resolution)
Managing Director special resolution
Means of Communication with Shareholders/Analysis
Re-appointment of Mr. Suresh C Senapaty as the Chief
We have established procedures to disseminate, in a planned
Financial Officer and Executive Director
manner, relevant information to our shareholders, analysts,
Special Resolution passed during the Financial Year 2012-13 employees and the society at large.
through the Postal Ballot Procedure for approval of Wipro Equity
Our Audit, Risk and Compliance Committee reviews the earnings
Reward Trust Employee Stock Purchase Plan 2013. The details of
press releases, Securities Exchange Commission (SEC) filings and
the voting pattern, name of the scrutinizer and the procedure
annual and quarterly reports of the Company, before they are
adopted for postal ballot is available on the Companys website
presented to the Board for their approval for release.
www.wipro.com.
News Releases and Presentations: All our news releases and
For the Year 2013-14, we had our Annual General meeting on
presentations made at investor conferences and to analysts are
July 23, 2014 at 4:00pm. The meeting was held at Wipro Campus,
posted on the Companys website at www.wipro.com/corporate/
Cafeteria Hall EC-3, Ground Floor, Opp. Tower 8, No. 72, Keonics,
investors.
Electronic City, Hosur Road, Bangalore 561229. The following
resolutions were passed at the meeting (last three being Special Quarterly results: Our quarterly results are published in widely
Resolutions). circulated national newspapers such as The Business Standard
and the local daily Kannada Prabha.
Appointment of Mr. Vyomesh Joshi as an Independent
Director Website: The Companys website contains a separate dedicated
section Investors where information sought by shareholders
Appointment of Mr. Narayanan Vaghul as an Independent
is available. The Annual Report of the Company, earnings, press
Director
releases, SEC filings and quarterly reports of the Company, apart
Appointment of Dr. Ashok S Ganguly as an Independent from the details about the Company, Board of directors and
Director

Wipro Limited 119

Management, are also available on the website in a user friendly In addition, the Board may meet on other dates as and when
and downloadable form at http://www.wipro.com/investors/. required.
Annual Report: Annual Report containing audited standalone The Register of Members and Share Transfer books will remain
accounts, consolidated financial statements together with closed on July 13, 2016 and July 14, 2016.
Boards Report, Auditors Report and other important information
Dividend
are circulated to members entitled thereto.
Your Board declared an Interim Dividend of 5/- per share on
Other Disclosures/Filings: Further, our Form 20- F filed with SEC
equity shares of face value of 2/- each on January 18, 2016 to
containing detailed disclosures and along with other disclosures
those shareholders who were on the Register of Members as of
including Press Releases etc. are available at http://www.wipro.
the closing hours of January 27, 2016.
com/investors/.
Your Board has recommended a Final Dividend of 1 per share
Communication of Results
on equity shares of face value of 2/-. This is subject to approval
Means of Number of times during by shareholders at the 70th Annual General Meeting.
Communications 2015-16 Final Dividend on equity shares as recommended by the
Earnings Calls 4 Directors for the year ended March 31, 2016, when approved
at the Annual General Meeting, will be paid on July 22, 2016.
Publication of results 4
Unclaimed Dividends
Analysts meet -
Pursuant to section 125A of Companies Act, 2013, the Company
Financial Calendar has transferred the unpaid or unclaimed final dividend for the
The financial year of the Company starts from on the 1st day of financial year 2007-08 on due date to the Investor Education
April and ends on 31st day of March of next year. Our tentative and Protection Fund administered by the Central Government.
calendar for declaration of results for the financial year 2016-17 Pursuant to the provisions of Investor Education and Protection
is as given below: Fund (Uploading of information regarding unpaid and
unclaimed amounts lying with companies) Rules, 2012, the
Quarter Ending Release of Results
Company has uploaded the details of unpaid and unclaimed
For the Quarter ending Fourth week of July, 2016 dividends lying with the Company as on July 22, 2015 (date of last
June 30, 2016 Annual General Meeting) on the website of the Company (www.
For the Quarter and half Fourth week of October, 2016 wipro.com/investors), as also on the website of the Ministry of
year ending Corporate Affairs.
September 30, 2016
For the Quarter and nine Fourth week of January, 2017 After completion of seven years, no claims shall lie against the
months ending said Fund or against the Company for the amounts of Dividend
December 31, 2016 so transferred nor shall any payment be made in respect of
such claims under the Companies Act, 1956. The Companies
For the year ending Fourth week of April, 2017
Act, 2013 provides for claiming such Dividends from the Central
March 31, 2017
Government.

Listing on Stock Exchanges, Stock Codes, International Securities Identification Number (ISIN) and Cusip Number for ADRs
Your Companys shares are listed in the following exchanges as on March 31, 2016 and the stock codes are:

Equity shares Stock Codes Address

Bombay Stock Exchange Limited (BSE) 507685 BSE Limited, Phiroze Jeejeebhoy Towers Dalal
Street, Mumbai- 400001
National Stock Exchange of India Limited (NSE) WIPRO Exchange Plaza, C-1, Block G, Bandra Kurla
Complex, Bandra (E), Mumbai
American Depository Receipts
New York Stock Exchange (NYSE) WIT 11 Wall St, New York, NY 10005, United States
of America

120 Annual Report 2015-16

Notes:
1. Listing fees for the year 2016-17 has been paid to the Indian Stock Exchanges as on date of this report.
2. Listing fees to NYSE for the calendar year 2016 has been paid as on date of this report.
3. The stock code on Reuters is WPRO.NS and on Bloomberg is WIPRO.IN
International Securities Identification Number (ISIN)
ISIN is an identification number for traded shares. This number needs to be quoted in each transaction relating to the dematerialized
equity shares of the Company. ISIN number for our equity shares is INE075A01022.
CUSIP Number for American Depository Shares
The Committee on Uniform Security Identification Procedures (CUSIP) of the American Bankers Association has developed a unique
numbering system for American Depository Shares. This number identifies a security and its issuer and is recognized globally
by organizations adhering to standards issued by the International Securities Organization. Cusip number for Wipro American
Depository Scrip is 97651M109.
Description of Voting Rights
All our equity shares carry voting rights on a pari-passu basis.
Distribution of Shareholding as on March 31, 2016

Category 31-Mar-16 31-Mar-15

(Amount) No. of % of No. of shares % of No. of % of No. of shares % of total
share- share- total share- share- equity
holders holders equity holders holders
1-5000 222,793 97.99 23,400,173 0.95 209,007 97.85 22,933,026 0.93
5001- 10000 1,605 0.71 5,697,804 0.23 1,637 0.77 5,868,639 0.24
10001- 20000 1,084 0.48 7,672,666 0.31 1,075 0.50 7,618,486 0.31
20001- 30000 423 0.19 5,185,043 0.21 424 0.20 5,199,653 0.21
30001- 40000 234 0.10 4,062,455 0.16 234 0.11 4,074,519 0.17
40001- 50000 154 0.07 3,451,385 0.14 144 0.07 3,227,405 0.13
50001- 100000 328 0.14 11,968,612 0.48 339 0.16 12,263,597 0.50
100001& Above 748 0.32 2,409,275,152 97.52 728 0.34 2,407,857,713 97.51
Total 227,369 100.00 2,470,713,290 100.00 213,588 100.00 2,469,043,038 100.00
Dematerialisation of Shares and Liquidity
98.93% of outstanding equity shares have been dematerialized as at March 31, 2016.
Outstanding ADR/GDR/Warrants or any other Convertible instruments, Conversion Date and Likely Impact on Equity
The Company has 1.97 % of outstanding ADRs as on March 31, 2016.
Commodity Price Risk or Foreign Exchange Risk and Hedging Activities
Please refer to Management Discussion and Analysis Report for details.
Market Share Price Data
The performance of our stock in the financial year 2015-16 is tabulated below:

Wipro Limited 121

Monthly High and Low Price Points and Volume in National Stock Exchange and New York Stock Exchange:

Month April May June July August September October November December January February March
Volume 4,41,81,888 3,46,49,188 3,59,49,507 2,61,79,626 2,79,71,595 2,97,44,898 2,82,42,029 2,46,90,439 2,51,77,172 2,37,45,170 2,24,09,439 3,38,05,928
traded NSE
Price in NSE during the month (in ` per share)
High 636.45 566.1 577.75 593.8 587.5 604.9 613.3 579.65 587.45 565.7 573.9 570
Date 1-Apr-15 21-May-15 19-Jun-15 23-Jul-15 18-Aug-15 24-Sep- 1-Oct-15 3-Nov-15 1-Dec-15 29-Jan-16 1-Feb-16 31-Mar-16
2015
Volume 1,191,542 1,459,842.00 5,166,628 2,229,413 1,402,485.00 2,080,264.00 3,500,187 1,056,986 1,725,073 1,450,233 1,506,973.00 3,875,911
traded NSE
Low 512.5 525.1 529 541.25 528.3 544.15 564.65 542.25 548.5 530.75 507.9 523.45
Date 24-Apr-15 7-May-15 12-Jun-15 1-Jul-15 25-Aug-15 07-Sep- 23-Oct-15 16-Nov-15 21-Dec-15 18-Jan-16 29-Feb-16 1-Mar-16
2015
Volume 3,565,799 2,274,572 2,215,415 1,204,636 2,868,240 1,070,478 1,859,286 1,110,826 1,163,941 1,693,486 2,079,616 1,725,272
traded NSE
S&P CNX Nifty Index during each month
High 8,844.80 8,489.55 8,467.15 8,654.75 8,621.55 8,055.00 8,336.30 8,116.10 7,979.30 7,972.55 7,600.45 7,777.60
Low 8,144.75 7,997.15 7,940.30 8,315.40 7,667.25 7,539.50 7,930.65 7,714.15 7,551.05 7,241.50 6,825.80 7,035.10
Wipro Price Movement vis-as-vis Previous Month High/Low (%)
High % -5.35% -11.05% 2.06% 2.78% -1.06% 2.96% 1.39% -5.49% 1.35% -3.70% 1.45% -0.68%
Low % -16.28% 2.46% 0.74% 2.32% -2.39% 3.00% 3.77% -3.97% 1.15% -3.24% -4.31% 3.06%
S&P CNX Nifty Index Movement vis a vis
High % -1.68% -4.02% -0.26% 2.22% -0.38% -6.57% 3.49% -2.64% -1.69% -0.08% -4.67% 2.33%
Low % -2.36% -1.81% -0.71% 4.72% -7.79% -1.67% 5.19% -2.73% -2.11% -4.10% -5.74% 3.07%

ADS Share Price During the Financial Year 2015-16

April May June July August September October November December January February March
Wipro ADS price in NYSE 11.47 12.07 11.97 12.36 11.71 12.29 12.38 12.55 11.54 11.72 11.18 12.58
during each month closing ($)
NYSE TMT index during each 7,843.51 7,829.45 7,652.37 7,712.68 7,121.09 6,946.62 7,405.30 7,366.80 7,168.22 7,015.37 7,030.42 7,582.94
month closing
Wipro ADS Price Movement -13.89% 5.23% -0.83% 3.26% -5.26% 4.95% 0.73% 1.37% -8.05% 1.56% -4.61% 12.52%
(%) Vis a vis Previous month
Closing $
NYSE TMT Index movement 2.89% -0.18% -2.26% 0.79% -7.67% -2.45% 6.60% -0.52% -2.70% -2.13% 0.21% 7.86%
(%) vis a vis Previous month
closing $

122 Annual Report 2015-16

 Performance of Wipro equity share and Wipro ADR relative to the CNX IT index, Nifty index, NYSE TMT index,
BSE SENSEX, CRISIL index during the period April 1, 2015 to March 31, 2016 is given in the following chart:

110

105

100

95

90

85

80
1-May-15

1-Aug-15

1-Nov-15

1-Mar-16
1-Dec-15
1-Sep-15

1-Feb-16
1-Oct-15
1-Jun-15

1-Jan-16
1-Apr-15

1-Jul-15

Wipro Wipro ADR NYSE TMT CNXIT Nifty

Base 100 = April 1, 2015

Registrar and Transfer Agents Address for Correspondence

Companys share transfer and related operations is operated The address of our Registrar and Share Transfer Agents is given
through its Registrar and Share Transfer Agents M/s Karvy below.
Computershare Private Limited, Hyderabad.
M/s Karvy Computershare Private Limited
Share Transfer System
Unit: Wipro Limited
The turnaround time for completion of transfer of shares in Karvy Selenium Tower B,
physical form is generally less than 7(seven) days from the date Plot 31-32, Gachibowli,
of receipt, if the documents are clear in all respects. Financial District, Nanakramguda, Hyderabad 500 032.
Phone: 040-23420818
We have also internally fixed turnaround times for closing the
Fax: 040 23420814
queries/complaints received from the shareholders within 7
(seven) days if the documents are clear in all respects.

Wipro Limited 123

Contact Person:
Mr. M Sanaulla Khan Ph: 91 80 28440011 (Extn 226185)
Mr. B. Srinivas - E-mail id: [email protected] Company Secretary Fax: 91 080 28440051
Wipro Limited Email:
Ms. Rajitha Cholleti - E-mail id: [email protected]
Doddakannelli [email protected]
Shareholders Grievance can also be sent through email to the Sarjapur Road
following designated email id: [email protected]. Bangalore 560 035
Overseas Depository for ADSs J.P. Morgan Chase Bank N.A. Mr. G Kothandaraman Ph: 91 80 28440011 (Extn 226183)
60, Wall Street New York, NY 10260 Head - Secretarial & Fax: 91 080 28440051
Tel: 001 212 648 3208 Compliance Email:
Fax: 001 212 648 5576 Wipro Limited [email protected]
Indian Custodian for ADSs Doddakannelli
India Sub Custody Sarjapur Road
J.P. Morgan Chase Bank N.A. J.P. Morgan Towers, Bangalore-560035
1st Floor, off C.S.T. Road, Kalina,
Santacruz (East), Mumbai 400 098 Analysts can reach our Investor Relations Team for any queries
Tel: 022-61573484 and clarification Financial/Investor Relations related matters:
Fax: 022-61573910
Web-Based Query Redressal System Mr. Aravind Ph : 91 80 28440011 (226186)
Viswanathan Fax: 91 80 28440051
Members may utilize this facility extended by the Registrar & Vice President and Email: [email protected]
Transfer Agents for redressal of their queries. Corporate Treasurer
Wipro Limited
Please visit http://karisma.karvy.com and click on investors
Doddkannelli
option for query registration through free identity registration
Sarjapur Road
to log on. Investor can submit the query in the QUERIES option
Bangalore 560 035
provided on the website, which would give the grievance
registration number. For accessing the status/response to your
query, please use the same number at the option VIEW REPLY Mr. Pavan N Rao Ph : 91 80 28440011 (226143)
after 24 hours. The investors can continue to put additional Senior Manager Fax: 91 80 28440051
queries relating to the case till they are satisfied. Investor Relations Email: [email protected]
Wipro Limited
Shareholders can also send their correspondence to the Doddkannelli
Company with respect to their shares, dividend, request for Sarjapur Road
annual reports and shareholder grievance. The contact details Bangalore 560 035
are provided below:
Mr. Abhishek Ph : +1 9788264700
Kumar Jain Fax: +1 8005724852
Senior Manager, Email: [email protected]
2 Tower Center,
Boulevard,
22nd Floor,
East Brunswick,
NJ-08816, USA

124 Annual Report 2015-16

Plant Locations
Details of locations or facilities of the Company (other than corporate and administrative office) as on March 31, 2016 is provided
below:

Sl. Address City/Country

No.
1 #88, MG Road Bangalore/India
2 Wividus Records Room (cisf building) Bangalore/India
3 74/F, Electronic City, Hosur Road Bangalore/India
4 Primal Pritech Park SEZ Bangalore/India
5 Electronics City Phase 1 Keonics Electronics City, Hosur Road Bangalore/India
6 Wipro SEZ, Doddathogur Village, Begur Hobli/Electronics City Bangalore/India
7 Wipro SEZ, Doddakannelli Village, Varthur Hobli/Sarjapur Road Bangalore/India
8 RR Towers - II, Guindy Chennai/India
9 3rd & 7th floor, 11th floor,A wing, 514, Dalamal Towers, Nariman Point Mumbai/India
10 # 701, 7th Floor, Block - C, Hardy Tower, Ramanujan IT Park,Taramani Chennai/India
11 475A Shollinganallur, Old Mahabalipuram Road Chennai, India
12 ELCOT SEZ, Shollinganallur Village Chennai, India
13 Mahindra World City SEZ, Kancheepuram District Chennai, India
14 TRIL Infopark Limited, Ramanujan IT Park Chennai, India
15 Airoli, Thane, Belapur Road, Navi Mumbai Mumbai/India
16 #482-483,Udyog Vihar, Phase-3 Gurgaon/India
17 SP Infocity, S.No. 209, Pune - Saswad Road, Fursungi Pune/India
18 Solitaire,Basement, Ground, 1st, 2nd & 3rd floor Doraisanipalya, Billekhalli village Bangalore/India
19 3,4,5,6 & 7th floor, 8, 9, 10,11th floor,EPIP Zone, Kundalahali Village, KrishnarajapuramHobli, Doddanakundi Post, Bangalore/India
White Field
20 AVS store-6C, Hyland Industrial Estate, 11th KM Stone, NH-7 hosur road Bangalore/India
21 AVS store-6D, Ground floor, and 1st Floor Hyland Industrial Estate, 11th KM Stone, NH-7 hosur road Bangalore/India
22 AVS Stores, No.38/5B, Hyland Industrial Estate, 11th KMS Hosur Main Road,Bommana Halli Bangalore/India
23 o.1-7-227 to 234, Shyam Tower, 4th floor, Paradise Circle, S.D.Road Secundrabad/India
24 Survey No 39, part in Resapuvaripalem Village,Old TB Hospital, Rama Talkies Road, Visakhapatnam Visakhapatnam/India
25 2nd floor, 59A-16-13/11A Durga Bhavani Complex RTC Colony Pantakaluva Rad, Patapati Vijayawada/India
26 Shop No.T-303, Crystal Arc Commercial Complex, TS No.78 & 74, 3rd Floor, Balmatta Road Mangalore/ India
27 Citicenter, EDC Complex at Patto Plaza, Panjim, Tiswadi Goa/India
28 No.37/405, Panorama House, Zsubhash Chandra Bose Road, Kadavanthara Kochin/India
29 No.31/984, Subash Chandra Bose Road Kochin/India
30 No.15/49-5, Saran Chambers floor, Diamond Hill, Vellayambalam Trivandrum/India
31 First floor, Door No.1268, Mettupalayam Road Coimbatore/India
32 (Ground floor, First floor & Second floor) Plot A-28, Thattanchavady Pondicherry/India
33 Plot # C-92, Lal Kothi Scheme Jaipur/India
34 #311, Third Floor, Pujer Complex, Subhanpura Main Road, Subhanpura Baroda/India
35 Studio Narinder, Property #15337/5-II(commercial) near 22 No Phatak, Bhupindra Road Punjab/India
36 No.7, Plot No.110,111,112 and 113 of Siddalingapura Village Panchayat, Belagola, Mysore Taluk in Metagalli Mysore/India
Industrial Area
37 HW 1223, 54B, Mount Mary Road, Bandra (West) Mumbai/India
38 #5, Ghoga Street (Janmabhoomi Marg), Fort Mumbai/India
39 #103, B Building, 1st Floor, Shah Industrial Estate, Saki Vihar, Andheri Mumbai/India
40 807 & 808 Venus Atlantis, Opp Safal Pegasus, 100ft Road, Satellite Ahmedabad/India
41 #196-B, Shri Krishna Puri Patna/India
42 Ground Floor, Somnath Hall, #16/7/2A, Keyatala Road Kolkata/India
43 A-29, Mohan Cooperative Industrial Estate, Mathura Road New Delhi/India
44 Plot#471, Phase-III, Udyog Vihar Gurgaon/India
45 Third floor, Tower E, Site No.2, DLF IT Park, Chandigarh Technology Chandigarh/India
46 3rd Floor, E-5/6, Bittan Market, Arera Colony Madhya Pradesh/India
47 Devi Niwas, 1st Flr, khalini Himachal pradesh/India

Wipro Limited 125

 Sl. Address City/Country
No.
48 4th floor, Raj Chambers, 29/9, Rana Pratap Marg Uttar Pradesh/India
49 2nd Floor, Bhatia Complex, Building #1, Opp. Rajkumar College, GE Road Chattisgadh/India
50 #208-A2 South Block, Bahu Plaza, Gandhinagar Jammu/India
51 Shop No. 31, Pandit Dindayal Upadhyay Market Punjab/India
52 Sy. No.1020/836 & 834, Byepass Gori Pora NH-1A, Opp. Ford Showroom, Hyderpora Jammu/India
53 Harcharan Singh complex, Property No. E-2, Industrial Area-A.R.K Road Punjab/India
54 No. 32, BMS Tower, Pathankot Chowk, Jalandhar - 144 004 Punjab/India
55 R.#3, B-Block,4th floor, Surajdeep Complex, Joping Road, Hazratganj Uttar Pradesh/India
56 #86/A, Saheednagar, Bhubaneswar - 751007, (1250 sqft at ground floor and 1000 sqft at third floor) Bhubaneswar/India
57 1st floor, Flat no 5, Building No A Krupa, Plot No 170, Dhole Patil Road Pune/India
58 Wipro Center, No.5,Papanna street, St.Marks Road Cross Bangalore/India
59 Wipro Limited A-23 Mohan Co-operative Industrial Area Sarita Vihar, Mthura Road New Delhi/India
60 A - 1 Sec - 3 Noida/India
61 F C Annex Plot no 575 A,CTS 1225,Shivaji nagar, Opp Fergusson college rd, Pune/India
62 2nd,3rd Spectra Bldg, High Street, Hiranandani Gardens, Powai Mumbai/India
63 4th Floor, Spectra Bldg, High Street, Hiranandani Gardens, Powai Mumbai/India
64 Wipro BPO, Swami Dayananda College, Manjakkudi Manjakkudi/India
65 Carlos Pellegrini, 581 (Piso 7) 1009, Capital Federal, Buenos Aires Argentina
66 Rodovia BR Cento e Dezesseis, no. 10320, Rua Jano Marchesini, no.139, Prado Velho, Curitiba Brazil
67 Part of the 6th floor of Bloco B of the Centro Empresarial de So Paulo [building], located in this Capital, at Avenida Brazil
Maria Coelho Aguiar, No. 215, So Paulo
68 Regus Columbia, Ltda Avenida Chile, Torre, Carrera 7 No 71 - 21 Bogota Columbia
69 Regus Puetra de Hlerro Av. Real Acuedcto # 360-A 1st floor, Col.Real Acueducto CP 45116, Zapopan Mexico
70 427 E. Garza Sada Avenue Local 38-27.,Col. Altavista, Monterrey Mexico
71 Prolongacin Paseo de la Reforma 1015 Mexico
72 # 300 North Patrick Building, Suite # 150,Brookfields, Wisconsin USA
73 500 West Cypress Creek, Ste 570, Fort Lauderdale USA
74 5200 Belfort Road,Ste 250, Jacksonville USA
75 100 Tri State International, Ste 300A, Lincolnshire Il 60069 USA
76 Atco Center - Floors 11 & 2 - 909, 11th Ave SW, Calgary, Alberta Canada
77 Milner Building - Floor 1to 9 (including basement storage) 9th Floor, 10040 - 104 Street, Edmonton Canada
78 Rogers Data Centre,17204 - 114 Ave,NW, Edmonton Canada
79 Standard Life - Floor 16,10405 Jasper Avenue, Edmonton Canada
80 5090 Explorer Drive, Sutie 800, 803, Missauga, ON Canada
81 Regus Isidora Avda, Las Condes, Isidora Goyenechea 3000 Piso 24, Santiago Chile
82 2700 Gambell Street, Suite 310, Anchorage, AK 99503 USA
83 6910 Fayetteville Road, Durham, North Carolina USA
84 3700 Centrepoint Drive, Suite 120, 1st floor, Anchorage, Alaska USA
85 3535 Piedmont Road NE, Building 14, Suites 1400/300, Atlanta, GA 30305 USA
86 3565 Piedmont Road NE, Building 4, Suite 500, Atlanta, Georgia USA
87 100,200, 300, Davidson, 2858 Woodcock Boulevard,Atlanta 30305 USA
88 3575 Piedmont Road NE, Building 15, Suite 600, Atlanta, Georgia 30305 USA
89 1201 SE 8th St, Ste 11, Bentonville, AR 72712 USA
90 One Lincoln Center, 18 W 140 Butterfield Road, Suite 395, Oakbrook Terrace,Chicago, Illiniois USA
91 Millennium Tower,Suite 1450, 15455 North Dallas Parkway, Texas, Dallas USA
92 2 Tower Center Boulevard, Suite 2200, East Brunswick, NJ 08816 USA
93 Suite 6042, 6055, 6057, 6th Floor, 400 Continental Blvd, El Segundo USA
94 129 East Crawford St., Findlay, OH 45840, Findlay, OH 45840 USA
95 1080 Eldridge Parkway, Suite 1400, Houston, TX 77077 USA
96 1028 G, Lincoln,Nebraska, 68508 USA
97 South Point Tower 1650 West 82nd Street, Suite 725 Bloomington, MN 55431 USA
98 18001 Old Cutler Road, Suite 651, Palmetto Bay, FL 33157. USA

126 Annual Report 2015-16

 Sl. Address City/Country
No.
99 425 National Avenue, Suite 200, Mountain View, CA 94043 USA
100 810 Crescent Centre Drive, Suite 400, Franklin, TN 37067 USA
101 1114 Avenue of the Americas, Suite 3030, New York, NY 10110 USA
102 1900, Crown Colony Dr.,Massachusetts USA
103 Building C 5020 148th Avenue NE,suite C - 100, Redmond, Washington USA
104 411, 108th Avenue, NE,19th Floor Bellevue, WA 98004 USA
105 100-120 Madison Street,12th Floor, Syracuse, NY USA
106 10210 Highland Manor Drive, Tampa USA
107 888, W. Suite 1290, Big Beaver Road, Troy, Michigan USA
108 601 13th Street, 11th Floor South, Washington USA
109 8390, East Crescont Parkway Suite 300, Greenwood Village, Colorado, Broomfield USA
110 728 Heisinger, Suite G Jefferson City, MO USA
111 905 Weathered Rock Road Jefferson City, MO 65101 USA
112 2 Christie Heights Leonia, New Jersey 07605 USA
113 6620 Bay Circle Drive, Norcross, GA 30071-1210 USA
114 11707 Miracle Hills Drive Omaha, NE 68154 USA
115 2411 W. Rose Garden Lane, Ste 130, Phoenix AZ USA
116 2005E Technology Circle, Tempe, Arizona USA
117 6320 Canoga Ave., Suite 600 Woodland Hills, CA 93167 USA
118 Reichsstrase 126 / I. Stock Feldkirch Austria
119 Veinna twin towers, Wienerbergstrasse 11, Vienna 1100 Austria
120 A union Winds Aberdeen England
121 6th,7th floor & part of 5th floor, The Quartz, Elm Park, Merrion Road, Dublin Ireland
122 Hemel One, First Floor, Building 1, Boundary Way, Hemel Hempstead,HP2 7YU England
123 The Deep Business Centre Kingston upon Hull England
124 Level 2, 3 Sheldon Square, London W2 6PS London England
125 FF, 186 - 188 City Road, LondonEC1 2NU England
126 Regus, CBX 11, West Wing, 382-390, Midsummer Boulevard, Milton Keynes MK9 2RG England
127 Kingswood House, 80 Richardshaw Lane Pudsey, Leeds LS28 6BN England
128 S10,S11, S12B, Columbia House, Columbia Drive, Worthing BN13 3HD England
129 G6, S2/S3, S10 S11 & S12B Columbia house, columbia drive, Worthing, West Sussex BN13 3HD England
130 Wipro Limited c/o Nokia Siemens Networks Linnoitustie 6, B-building, 4th floor, 02600 Espoo Finland
131 Keilaranta 10, 8th floor Unit E8a Finland
132 Wipro Limited, c/o Nokia Siemens Networks, Partner Campus Area, Ground Floor, Building B,Kaapelitie 4 (Rusko I) Oulu Finland
133 Gare Part Dieu, Place Charles Beraudier, 69428 Lyon Cedex France
134 Tour Prisma, 4/6 Avenue dAlsace, Paris France
135 Cap Nord, Bat A 2,Alle Marie Berhaut, Renne France
136 7 Avenue Didier Daurat, Toulouse France
137 BroHaus auf dem hagen_campus, Gottfried-Hagen-Str. 44,Kln COLOGNE Germany
138 Wassenaarseweg 22, Den Hague Germany
139 WestendGate, Hamburger Allee 2-4, Frankfurt Germany
140 Polarisavenue 57, Hoofddorf Germany
141 Hopfenster,1d, 24114, Kiel Germany
142 Regus, 26,Boulevard Royal, Luxembourg Germany
143 Reim Arkadin, Zweigniederlassung Deutschland, Lehrer-Wirth-Str. 2, Munich Germany
144 Thurn-und-Taxis Str 12, Nurnberg Germany
145 Flugfeld,Boebllngen Stuttgart Germany
146 PartnerPort, Altrottstrasse 31, Walldorf Germany
147 1117,budapest 4082/21, Gbor Dnes utca 2, Budapest Hungary
148 Regus, Ayazaga Mahallesi, Maydan Sokak No 1, Beybi Giz Plaza, Kat 26 & 27 Maslak, Istanbul Turkey
149 15 B, Satpayev str, Atyrau city Kazakhstan
150 Regus - 42 - 44, Shovkovychna Street, Kiev Ukraine

Wipro Limited 127

Sl. Address City/Country
No.
151 High Tech Campus 1 5656 AE Eindhoven - The Netherlands, P.O. Box 80036 - 5600 JW Eindhoven Netherland
152 Snaryveien 30, Building C 1360 Fornebu Oslo Norway
153 Martin Linges Vei 25, No.1364 Fornebu, Snaroya Norway
154 16th Flr, (Millennium Plaza) Al. Jerozolimskie 123a, Warsaw 02-017, Warsaw Poland
155 SA 2650, Rua Engenheiro Frederico Ulrich, Moreira,Maia Portugal
156 109028, Moscow,13,Khokhlovsky lane, bdl1, floor 3, Room 2 Russia
157 Lange Kleiweg 8 Netherland
158 5 Redwood Place, Peel Park Business Centre Ground Floor West Wing, East Kilbride G74 5PB (Scotland) Scotland
159 Regus - Madrid Serviced Office, Puerta De las Naciones, Ribera del Loria 46, Campo de las Naciones Spain
160 Beridarebanan 11,Sveavagan 9, 13 Stockholm Sweden
161 Regus - Basel Serviced Office, City Centre 5th Floor, Innere Margarethenstrasse Switzerland
162 Gzeloba Mahallesi, Ahmet Aksu Sitesi, F Blok, No: 2, Muratpaa, Antalya Turkey
163 Regus, Corner Plus Is Merkezi,Fethiye Mah, Sanayi Cad. No. 263 Kat 3, Nilufer Bursa Turkey
164 Regus, Lelvent No.193 Binasi, Buyukdere Cad.No.193 K.2, 34394 4 Istanbul Turkey
165 1st Floor, Building B, Hatanpn Valtatie 30, Tampere Turkey
166 # 317, 3rd Floor, Kiinteisto Oy St Erik, Kristiinankatu 9, Turku Turkey
167 Badenerstrasse 549, Zurich Switzerland
168 OBC Suisse (Airgate) AG, plug and work AG, Hotelstrasse,Postfach 311, CH-8058 Zrich Airport, Zurich Switzerland
169 19 Genfell Street, Adelaide Australia
170 Brisbane (Sales serviced office), Level 18, 123 Eagle Street, Brisbane Australia
171 Level 9, Nishi, 2 Phillip Law Street Canberra ACT 2601 AUS Australia
172 Level 4/80 Dorcas Street, South Melbourne Victoria Australia
173 Level 6 suite 1, 80 George street, Paramatta Australia
174 Level 5 to 11, Allendale II,12 the Esplanade,Perth Australia
175 201 Millers St, North Sydney Australia
176 Suite # 1.02, Level 1, Building C, Talavera Corporate Center, Talavera Road, Macquaire Park New South Wales Australia
177 Unit 1 & 2, 7 Sky Close, Taylors Beach NSW 2316 Australia
178 51 Changi Business Park Central 2, #09-03, The Signature, Singapore
179 1 Changi Business Park,Plaza 8, Podium A, B, #02-02/03/09/08/10, #05-04/05/06 Singapore
180 16th Floor, Jalan Steson Sentral, 5 KL Sentral, Kuala Lampur Malaysia
181 Suite G09, 2300 Century Square, Jalan Usahawan, Cyber 6, 63000 Cyberjaya, Selangor Darul Ehsan Malaysia
182 18th Floor Philamlife Tower, 8767 Paseo de Roxas,Market City, Metro Manila 122 Philippines
183 Level 37, Taipei 101, Tower 7, 7 Xinyi Road, Section 5, 110 Taipei Taiwan
184 Unit 17-02B, 152 North Sathron road, Silom Sub-district, Bangrak District, Bangkok Thailand
185 Regus Jakarta Menara Standard Chartered, 30/F Jl. Prof.Dr. Satrio Kav 164, Jakarta Indonesia
186 My Yangon Office,No. 42A, Pantra Street,Dagon Township,Yangon Myanmar
187 D2, Tianfu Software Park Chengdu China
188 F3, bldg9, Zhangjiang Micro-electronice Port, Shanghai China
189 Umeda Shindo Building,Umeda Shindo Building,3F, 1-1-5 Osaka Dojima,Kita-ku, Osaka Japan
190 Yokohama Landmark Tower 26F #2605 Japan
191 Office No 146, First Floor, Willowbridge Centre 39, Carl Cronje Dr, Capetown S. Africa
192 10th Floor, The Forum, 2 Maude Street, Sandton, Johannesburg, Sandown S. Africa
193 7th Floor, Mulliner Towers, 39 Alfred Rewane Road, (Kingsway Road), Ikoyi Lagos S. Africa
194 7th Floor, Course View Towers, Plot 21, Yusuf Lule Road Nakasero, Kampala, Uganda Uganda
195 Orchid business center -Alseef Bahrain
196 D603, St.14, Building 43, Al Mansour, Baghdad Iraq
197 First floor, Building D, The Business Park, Airport Road, Doha Qatar

128 Annual Report 2015-16

CORPORATE GOVERNANCE
COMPLIANCE CERTIFICATE
Corporate Identity No : L32102KA1945PLC020800
Nominal Capital : ` 610 Crores
To the Members of
WIPRO LIMITED
Doddakannelli, Sarjapur Road,
Bengaluru - 560035
We have examined all the relevant records of Wipro Limited for the purpose of certifying compliance of the conditions of the
Corporate Governance under Clause 49 of the Listing Agreement with the Stock Exchanges for the period from April 01, 2015
to November 30, 2015 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the period from
December 01, 2015 up to March 31, 2016. We have obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purposes of certification.
The compliance of conditions of corporate governance is the responsibility of the Management. Our examination was limited to the
procedure and implementation process adopted by the Company for ensuring the compliance of the conditions of the corporate
governance.
This certificate is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the
management has conducted the affairs of the Company.
In our opinion and to the best of our information and according to the explanations and informatin furnished to us, we certify
that the Company has complied with all the mandatory requirements of Corporate Governance as stipulated in Schedule II of the
said Regulations/Listing Agreement. As regards Discretionary Requirements specified in Part E of Schedule II of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 the Company has complied with items C and E.

For V. Sreedharan & Associates

Company Secretaries

Sd/-
V. Sreedharan
Bengaluru Partner
June 3, 2016 F.C.S.2347; C.P. No. 833

Wipro Limited 129

Standalone Financial Statements under India GAAP

INDEPENDENT AUDITORS REPORT

To the Members of Wipro Limited give a true and fair view in conformity with the accounting principles
Report on the Standalone Financial Statements generally accepted in India, of the state of affairs of the Company as
We have audited the accompanying standalone financial statements at March 31, 2016 and its profit and its cash flows for the year ended
of Wipro Limited (the Company), which comprise the balance on that date.
sheet as at March 31, 2016, the statement of profit and loss and the Report on Other Legal and Regulatory Requirements
cash flow statement for the year then ended, and a summary of the 1. As required by the Companies (Auditors Report) Order, 2016
significant accounting policies and other explanatory information. (the Order) issued by the Central Government of India in
Managements Responsibility for the Standalone Financial terms of sub-section (11) of section 143 of the Act, we give in the
Statements Annexure A, a statement on the matters specified in
paragraphs 3 and 4 of the Order, to the extent applicable.
The Companys Board of Directors is responsible for the matters 2. As required by Section 143 (3) of the Act, we report, to the
stated in Section 134(5) of the Companies Act, 2013 (the Act) with extent applicable, that:
respect to the preparation and presentation of these standalone (a) We have sought and obtained all the information and
financial statements that give a true and fair view of the financial explanations which to the best of our knowledge and
position, financial performance and cash flows of the Company in belief were necessary for the purposes of our audit;
accordance with the accounting principles generally accepted in (b) In our opinion, proper books of account as required by
India, including the Accounting Standards specified under Section law have been kept by the Company so far as it appears
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, from our examination of those books;
2014. This responsibility also includes maintenance of adequate (c) The balance sheet, the statement of profit and loss and
accounting records in accordance with the provisions of the Act the cash flow statement dealt with by this Report are in
for safeguarding the assets of the Company and for preventing and agreement with the books of account;
detecting frauds and other irregularities; selection and application of (d) In our opinion, the aforesaid standalone financial
appropriate accounting policies; making judgments and estimates statements comply with the Accounting Standards
that are reasonable and prudent; and design, implementation and specified under Section 133 of the Act, read with Rule 7
maintenance of adequate internal financial controls, that were of the Companies (Accounts) Rules, 2014;
operating effectively for ensuring the accuracy and completeness of (e) On the basis of the written representations received from
the accounting records, relevant to the preparation and presentation the directors as on March 31, 2016 taken on record by the
of the financial statements that give a true and fair view and are free Board of Directors, none of the directors is disqualified as on
from material misstatement, whether due to fraud or error. March 31, 2016 from being appointed as a director in
Auditors Responsibility terms of Section 164 (2) of the Act;
Our responsibility is to express an opinion on these standalone (f ) With respect to the adequacy of the internal financial
financial statements based on our audit. controls over financial reporting of the Company and
the operating effectiveness of such controls, refer to our
We have taken into account the provisions of the Act, the accounting
separate Report in Annexure B; and
and auditing standards and matters which are required to be
included in the audit report under the provisions of the Act and the Report on Other Legal and Regulatory Requirements
Rules made thereunder. (continued)
We conducted our audit in accordance with the Standards on (g) With respect to the other matters to be included in
Auditing specified under Section 143(10) of the Act. Those Standards the Auditors Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our
require that we comply with ethical requirements and plan and
opinion and to the best of our information and according
perform the audit to obtain reasonable assurance about whether the
to the explanations given to us:
standalone financial statements are free from material misstatement.
i. The Company has disclosed the impact of pending
An audit involves performing procedures to obtain audit evidence litigations on its financial position in its standalone
about the amounts and the disclosures in the standalone financial statements Refer Note 33 and 40 to the
financial statements. The procedures selected depend on the standalone financial statements;
auditors judgment, including the assessment of the risks of ii. The Company has made provision, as required
material misstatement of the standalone financial statements, under the applicable law or accounting standards,
whether due to fraud or error. In making those risk assessments, for material foreseeable losses, if any, on long-term
the auditor considers internal financial control relevant to the contracts including derivative contracts Refer Note
Companys preparation of the standalone financial statements 34 and 35 to the standalone financial statements;
that give a true and fair view in order to design audit procedures iii. There has been no delay in transferring amounts,
that are appropriate in the circumstances. An audit also includes required to be transferred, to the Investor Education
evaluating the appropriateness of the accounting policies used and Protection Fund by the Company.
and the reasonableness of the accounting estimates made by the
Companys Directors, as well as evaluating the overall presentation for B S R & Co. LLP
of the standalone financial statements. Chartered Accountants
We believe that the audit evidence we have obtained is sufficient Firms registration number: 101248W/W-100022
and appropriate to provide a basis for our audit opinion on the
standalone financial statements. Vijay Mathur
Opinion Partner
In our opinion and to the best of our information and according to the Membership number: 046476
explanations given to us, the aforesaid standalone financial statements Bangalore
give the information required by the Act in the manner so required and June 3, 2016

130 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

ANNEXURE A TO THE INDEPENDENT AUDITORS REPORT

In respect of the Annexure referred to in paragraph 1 of our demand and the Company has not sought repayment
report to the Members of Wipro Limited (the Company) for of the loan during the current year.
the year ended March 31, 2016, we report that:
(c) There are no overdue amounts in respect of the loan
(i) (a) The Company has maintained proper records showing granted to a party listed in the register maintained
full particulars, including quantitative details and under Section 189 of the Act.
situation of fixed assets.
(iv) In our opinion and according to the information and
(b) The Company has a regular programme of physical explanations given to us, the Company does not have any
verification of its fixed assets by which fixed assets transactions to which the provisions of Section 185 apply.
are verified in a phased manner over a period The Company has complied with the provisions of Section
of three years. In our opinion, this periodicity of 186 of the Act, with respect to the loans, investments,
physical verification is reasonable having regard to guarantees and security.
the size of the Company and the nature of its assets.
(v) The Company has not accepted any deposits from the
In accordance with this programme, certain fixed
public.
assets were verified during the year and no material
discrepancies were noticed on such verification. (vi) The Central Government has not prescribed the maintenance
of cost records under Section 148(1) of the Act, for any of the
(c) According to the information and explanations given
products or services rendered by the Company.
to us and on the basis of our examination of the
records of the Company, title deeds of immovable (vii) (a) According to the information and explanations given
properties are held in the name of the Company. to us and on the basis of our examination of the
records of the Company, amounts deducted/ accrued
(ii) The inventory, except goods-in-transit, has been physically
in the books of account in respect of undisputed
verified by the management during the year and the
statutory dues including provident fund, employees
discrepancies noticed on such verification between the
state insurance, income-tax, sales-tax, service tax,
physical stock and the book records were not material.
duty of customs, duty of excise, value added tax, cess
In our opinion, the frequency of such verification is
and other material statutory dues have generally
reasonable.
been regularly deposited during the year by the
(iii) During the current year, the Company has not granted Company with the appropriate authorities.
any loans, secured or unsecured to parties covered in the
According to the information and explanations given
register required to be maintained under Section 189 of
to us, no undisputed amounts payable in respect of
the Act. However, in an earlier year, an interest free loan
provident fund, employees state insurance, income-
was granted to a party (wholly owned subsidiary) covered
tax, sales-tax, service tax, duty of customs, duty of
in the register maintained under Section 189 of the Act.
excise, value added tax, cess and other material
(a) The Company has not granted any loans, secured statutory dues were in arrears as at March 31, 2016
or unsecured to the parties covered in the register for a period of more than six months from the date
maintained under Section 189 of the Act during the they became payable.
current year.
(b) According to the information and explanations given
(b) In the case of a loan granted to the party listed in the to us, the following dues of income tax, duty of excise,
register maintained under Section 189 of the Act, the duty of customs, sales tax and service tax, have not
loan is interest free and the principal is repayable on been deposited by the Company on account of
disputes:

Wipro Limited 131

Standalone Financial Statements under India GAAP

Name of the Statute Nature of the dues Amount Period to which Forum where dispute is
unpaid * the amount relates pending
(` in millions) (Assessment year)
The Income Tax Act, 1961 Income Tax and interest demanded 31,968 2001-02 to 2007-08 High Court **
The Income Tax Act, 1961 Income Tax and interest demanded 3,101 2007-08 to 2011-12 Income tax Appellate Tribunal
The Income Tax Act, 1961 Income Tax and interest demanded (based on 4,247 2012-13 to 2013-14 Dispute Resolution Panel ***
draft assessment order)
The Income Tax Act, 1961 Income Tax and interest demanded 4 2012-13 Appellate Authorities
State Sales Tax/VAT and CST Sales tax, interest and penalty demanded 1,748 1986-87 to 2010-11 Appellate Authorities
(pertaining to various states)
State Sales Tax/VAT and CST Sales tax demanded 375 1998-99 to 2009-10 Appellate Tribunal
(pertaining to various states)
State Sales Tax/VAT and CST Sales tax and penalty demanded 38 1999-00 to 2007-08 High court/ Supreme court
(pertaining to Kerala and Andhra
Pradesh)
The Central Excise Act, 1944 Excise duty demanded 59 1995-96 to 2012-13 Appellate Authorities
The Central Excise Act, 1944 Excise duty demanded 175 2004-05 to 2010-11 CESTAT
The Central Excise Act, 1944 Excise duty demanded 1 2007-08 High Court/ Supreme Court
The Customs Act, 1962 Customs duty, interest and penalty demanded 296 1995-96 to 2009-10 Appellate Authorities
The Customs Act, 1962 Customs duty and penalty demanded 7 1991-92 to 2011-12 CESTAT
The Customs Act, 1962 Customs duty demanded 44 1990-91 to 1998-99 High court/ Supreme court
The Finance Act, 1994 service tax Service tax demanded 109 2004-05 to 2010-11 Appellate Authorities
The Finance Act, 1994 service tax Service tax demanded 386 2001-02 to 2011-12 CESTAT
*The amounts paid under protest have been reduced from the amounts demanded in arriving at the aforesaid disclosure.
**No subsequent demand has been raised as the matter is pending with High Court based on appeals filed by the department.
*** Pending directions from Dispute Resolution Panel, the Company has not received any demand for payment.

(viii) In our opinion and according to the information and compliance with Sections 177 and 188 of the Act where
explanations given to us, the Company has not defaulted applicable and details of such transactions have been
in repayment of its dues to the banks. The Company did disclosed in the financial statements as required by the
not have any outstanding dues to any financial institutions, applicable accounting standards.
government or debenture holders during the year.
(xiv) According to the information and explanations give to
(ix) The Company did not raise any moneys by way of us and based on our examination of the records of the
initial public offer or further public offer (including debt Company, the Company has not made any preferential
instruments) during the year. In our opinion and according allotment or private placement of shares or fully or partly
to the information and explanations given to us, the term convertible debentures during the year.
loans taken by the Company have been applied for the
(xv) According to the information and explanations given to
purposes for which they were raised.
us and based on our examination of the records of the
(x) According to the information and explanations given to Company, the Company has not entered into non-cash
us, no fraud by the Company or on the Company by its transactions with directors or persons connected with him.
officers or employees has been noticed or reported during
(xvi) According to the information and explanations given to
the course of our audit.
us, the Company is not required to be registered under
(xi) According to the information and explanations give to Section 45 IA of the Reserve Bank of India Act, 1934.
us and based on our examination of the records of the
Company, the Company has paid/provided for managerial
remuneration in accordance with the requisite approvals
for BSR & Co. LLP
mandated by the provisions of Section 197 read with Chartered Accountants
Schedule V to the Act. Firm registration No.: 101248W/ W-100022
(xii) In our opinion and according to the information and
explanations given to us, the Company is not a Nidhi
Vijay Mathur
company.
Partner
(xiii) According to the information and explanations given to Membership number: 046476
us and based on our examination of the records of the Bangalore
Company, transactions with the related parties are in June 3, 2016

132 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

ANNEXURE - B TO THE INDEPENDENT AUDITORS REPORT

Annexure - B to the Independent Auditors Report of even the Companys internal financial controls system over financial
date on the Standalone Financial Statements of Wipro Limited reporting.
Report on the Internal Financial Controls under Clause (i) Meaning of Internal Financial Controls over Financial Reporting
of Sub-Section 3 of Section 143 of the Companies Act, 2013 A companys internal financial control over financial reporting is a
(the Act) process designed to provide reasonable assurance regarding the
We have audited the internal financial controls over financial reliability of financial reporting and the preparation of financial
reporting of Wipro Limited (the Company) as of March 31, statements for external purposes in accordance with generally
2016 in conjunction with our audit of the standalone financial accepted accounting principles. A companys internal financial
statements of the Company for the year ended on that date. control over financial reporting includes those policies and
Managements Responsibility for Internal Financial Controls procedures that (1) pertain to the maintenance of records that,
in reasonable detail, accurately and fairly reflect the transactions
The Companys management is responsible for establishing and and dispositions of the assets of the company; (2) provide
maintaining internal financial controls based on the internal reasonable assurance that transactions are recorded as necessary
control over financial reporting criteria established by the to permit preparation of financial statements in accordance with
Company considering the essential components of internal generally accepted accounting principles, and that receipts
control stated in the Guidance Note on Audit of Internal Financial and expenditures of the company are being made only in
Controls over Financial Reporting issued by the Institute of accordance with authorizations of management and directors
Chartered Accountants of India (ICAI). These responsibilities of the company; and (3) provide reasonable assurance regarding
include the design, implementation and maintenance of prevention or timely detection of unauthorized acquisition, use,
adequate internal financial controls that were operating or disposition of the companys assets that could have a material
effectively for ensuring the orderly and efficient conduct of effect on the financial statements.
its business, including adherence to companys policies, the
Inherent Limitations of Internal Financial Controls Over
safeguarding of its assets, the prevention and detection of frauds
Financial Reporting
and errors, the accuracy and completeness of the accounting
records, and the timely preparation of reliable financial Because of the inherent limitations of internal financial controls
information, as required under the Companies Act, 2013. over financial reporting, including the possibility of collusion
or improper management override of controls, material
Auditors Responsibility
misstatements due to error or fraud may occur and not be
Our responsibility is to express an opinion on the Companys detected. Also, projections of any evaluation of the internal
internal financial controls over financial reporting based on our financial controls over financial reporting to future periods
audit. We conducted our audit in accordance with the Guidance are subject to the risk that the internal financial control over
Note on Audit of Internal Financial Controls over Financial financial reporting may become inadequate because of changes
Reporting (the Guidance Note) and the Standards on Auditing, in conditions, or that the degree of compliance with the policies
issued by ICAI and deemed to be prescribed under Section or procedures may deteriorate.
143(10) of the Companies Act, 2013, to the extent applicable to Opinion
an audit of internal financial controls, both applicable to an audit
of Internal Financial Controls and, both issued by the Institute In our opinion, the Company has, in all material respects, an
of Chartered Accountants of India. Those Standards and the adequate internal financial controls system over financial
Guidance Note require that we comply with ethical requirements reporting and such internal financial controls over financial
and plan and perform the audit to obtain reasonable assurance reporting were operating effectively as at March 31, 2016,
about whether adequate internal financial controls over financial based on the internal control over financial reporting criteria
reporting was established and maintained and if such controls established by the Company considering the essential
operated effectively in all material respects. components of internal control stated in the Guidance Note on
Audit of Internal Financial Controls Over Financial Reporting
Our audit involves performing procedures to obtain audit issued by the Institute of Chartered Accountants of India.
evidence about the adequacy of the internal financial controls
system over financial reporting and their operating effectiveness.
Our audit of internal financial controls over financial reporting for BSR & Co. LLP
included obtaining an understanding of internal financial Chartered Accountants
controls over financial reporting, assessing the risk that a material Firm registration No.: 101248W/ W-100022
weakness exists, and testing and evaluating the design and
operating effectiveness of internal control based on the assessed
risk. The procedures selected depend on the auditors judgment, Vijay Mathur
including the assessment of the risks of material misstatement Partner
of the financial statements, whether due to fraud or error. Membership number: 046476
We believe that the audit evidence we have obtained is sufficient Bangalore
and appropriate to provide a basis for our audit opinion on June 3, 2016

Wipro Limited 133

Standalone Financial Statements under India GAAP

BALANCE SHEET (` in millions, except share and per share data, unless otherwise stated)
As at March 31,
Notes 2016 2015
EQUITY AND LIABILITIES
Shareholders funds
Share capital 3 4,941 4,937
Reserves and surplus 4 404,111 341,279
409,052 346,216
Share application money pending allotment(1) 5 - -
Non-current liabilities
Long term borrowings 6 11,465 10,632
Deferred tax liabilities 46(ii) 722 567
Other long term liabilities 7 464 281
Long term provisions 8 3,991 2,736
16,642 14,216
Current liabilities
Short term borrowings 9 55,495 49,704
Trade payables* 10 59,931 57,288
Other current liabilities 11 26,652 25,511
Short term provisions 12 23,993 41,150
166,071 173,653
TOTAL EQUITY AND LIABILITIES 591,765 534,085
ASSETS
Non-current assets
Fixed assets
Tangible assets 13 37,262 35,700
Intangible assets and goodwill 14 4,625 4,684
Capital work-in-progress 3,251 3,612
Non-current investments 15 57,328 55,797
Deferred tax assets 46(ii) 2,904 1,659
Long term loans and advances 16 33,584 30,710
Other non-current assets 17 2,524 3,368
141,478 135,530
Current assets
Current investments 18 127,302 51,888
Inventories 19 5,262 4,794
Trade receivables 20 87,048 81,442
Cash and bank balances 21 120,078 156,675
Short term loans and advances 22 54,995 52,561
Other current assets 23 55,602 51,195
450,287 398,555
TOTAL ASSETS 591,765 534,085
Significant accounting policies 2
(1)
value is less than one million rupees.
* Trade payables include amount due to micro and small enterprises ` 11 and ` 22 as of March 2016 and 2015 respectively.(refer note 42)
The notes referred to above form an integral part of the Standalone finanical statements.
As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman &
Managing Director Director Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

134 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

STATEMENT OF PROFIT AND LOSS

(` in millions, except share and per share data, unless otherwise stated)
Notes For the year ended March 31,
2016 2015
REVENUE
Revenue from operations (gross) 24 446,846 412,100
Less: Excise duty - 2
Revenue from operations (net) 446,846 412,098
Other income 25 27,715 24,990
Total revenue 474,561 437,088
EXPENSES
Cost of materials consumed 26 2 34
Purchases of stock-in-trade 27 26,555 27,964
Changes in inventories of finished goods, work in progress and stock-in-trade 27 (531) (2,543)
Employee benefits expense 28 213,797 197,263
Finance costs 29 5,278 3,629
Depreciation and amortisation expense 8,688 7,784
Other expenses 30 115,951 97,387
Total expenses 369,740 331,518
Profit before tax 104,821 105,570
Tax expense
Current tax 24,523 23,766
Deferred tax (692) (127)
23,831 23,639
Net Profit 80,990 81,931
EARNINGS PER EQUITY SHARE 41
(Equity shares of par value ` 2 each)
Basic 32.97 33.38
Diluted 32.91 33.28
Significant accounting policies 2
The notes referred to above form an integral part of the Standalone finanical statements.

As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman &
Managing Director Director Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

Wipro Limited 135

Standalone Financial Statements under India GAAP

CASH FLOW STATEMENT (` in millions, except share and per share data, unless otherwise stated)
Year ended March 31,
2016 2015
A. Cash flows from operating activities:
Profit before tax 104,821 105,570
Adjustments:
Depreciation and amortisation 8,688 7,784
Amortisation of share based compensation 1,601 1,296
Provision for diminution in the value of non-current investments 1,793 -
Exchange differences, net 3,323 3,156
Interest on borrowings 820 511
Dividend / interest income (20,602) (15,834)
Profit on sale of investments (2,634) (3,948)
(Gain)/Loss on sale of fixed assets (52) 8
Working capital changes :
Trade receivables and unbilled revenue (9,319) 2,851
Loans and advances and other assets 890 (4,022)
Inventories (468) (2,511)
Liabilities and provisions 3,405 5,146
Net cash generated from operations 92,266 100,007
Direct taxes paid, net (25,399) (22,971)
Net cash generated by operating activities 66,867 77,036
B. Cash flows from investing activities:
Acquisition of fixed assets including capital advances (10,583) (8,739)
Proceeds from sale of fixed assets 699 445
Purchase of investments (866,172) (550,990)
Proceeds from sale / maturity of investments 793,275 561,106
Investment in inter-corporate and term deposits (67,840) (39,200)
Refund of inter-corporate and term deposits 36,950 13,500
Investment in subsidiaries (3,207) (3,425)
Dividend / interest income received 18,828 12,353
Net cash used in investing activities (98,050) (14,950)
C. Cash flows from financing activities:
Proceeds from exercise of employee stock options 4 5
Interest paid on borrowings (893) (253)
Dividends paid including distribution tax (35,673) (29,239)
Proceeds from borrowings / loans 121,859 90,212
Repayment of borrowings / loans (119,764) (79,086)
Net cash used in financing activities (34,467) (18,361)
Net (decrease) / increase in cash and cash equivalents during the year (65,650) 43,725
Cash and cash equivalents at the beginning of the year 149,425 105,549
Effect of exchange rate changes on cash balance 313 151
Cash and cash equivalents at the end of the year [refer note 21] 84,088 149,425
The notes referred to above form an integral part of the Standalone financial statements
As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman &
Managing Director Director Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

136 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

NOTES TO THE FINANCIAL STATEMENTS

(` in millions, except share and per share data, unless otherwise stated)
1. Company overview iv. Fixed assets
Wipro Limited (Wipro or the Company), is a leading India Tangible assets are stated at historical cost less accumulated
based provider of IT Services, including Business Process depreciation and impairment loss, if any. Costs include
Services (BPS) services, globally and IT Products. expenditure directly attributable to the acquisition of
the asset. Borrowing costs directly attributable to the
Wipro is a public limited company incorporated and
construction or production of qualifying assets are
domiciled in India. The address of its registered office is Wipro
capitalized as part of the cost.
Limited, Doddakannelli, Sarjapur Road, Bangalore560
035, Karnataka, India. Wipro has its primary listing with When parts of an item of property, plant and equipment
Bombay Stock Exchange and National Stock Exchange have different useful lives, they are accounted for as
in India. The Companys American Depository Shares separate items (major components) of property, plant and
representing equity shares are also listed on the New York equipment. Subsequent expenditure relating to property,
Stock Exchange. plant and equipment is capitalized only when it is probable
that future economic benefits associated with these will
2. Significant accounting policies
flow to the Company and the cost of the item can be
i. Basis of preparation of standalone financial statements measured reliably.
The standalone financial statements are prepared in Intangible assets are stated at the consideration paid for
accordance with Generally Accepted Accounting Principles acquisition less accumulated amortization and impairment
in India (GAAP) under the historical cost convention on loss, if any.
the accrual basis, except for certain financial instruments
Cost of fixed assets not ready for use before the balance
which are measured on a fair value basis. GAAP comprises
sheet date is disclosed as capital work-in-progress.
mandatory accounting standards as prescribed under
Advances paid towards the acquisition of fixed assets
Section 133 of the Companies Act, 2013 (Act) read with
outstanding as of each balance sheet date is disclosed
Rule 7 of the Companies (Accounts) Rules, 2014, and the
under long term loans and advances.
relevant provisions of the Companies Act, 2013 (the 2013
Act) / Companies Act, 1956 (the 1956 Act), as applicable, v. Investments
Accounting Standards (AS)/guidance notes issued by the
Non-current investments are stated at cost less other than
Institute of Chartered Accountants of India (ICAI) and other
temporary diminution in the value of such investments, if
generally accepted accounting principles in India.
any. Current investments are valued at lower of cost and
All amounts included in the financial statements are fair value determined by category of investment. The fair
reported in millions of Indian rupees (` in millions) except value is determined using quoted market price/market
share and per share data, unless otherwise stated. Due observable information adjusted for cost of disposal. On
to rounding off, the numbers presented throughout the disposal of the investment, the difference between its
document may not add up precisely to the totals and carrying amount and net disposal proceeds is charged or
percentages may not precisely reflect the absolute figures. credited to the statement of profit and loss.
ii. Use of estimates vi. Inventories
The preparation of financial statements requires Inventories are valued at lower of cost and net realizable
management to make judgments, estimates and value, including necessary provision for obsolescence. Cost
assumptions that affect the application of accounting is determined using the weighted average method. Cost
policies and the reported amounts of assets and liabilities of work-in-progress and finished goods include material
and the disclosure of contingent liabilities as at the date cost and appropriate share of manufacturing overheads.
of financial statements and reported amounts of income Cost of inventories comprises all costs of purchase, costs
and expenses during the year. Estimates and underlying of conversion and other costs incurred in bringing the
assumptions are reviewed on an ongoing basis. Revision inventories to their present location and condition.
to accounting estimates is recognised in the year in which
vii. Provisions and contingent liabilities
the estimates are revised and in any future year affected.
Provisions are recognised when the Company has a
iii. Goodwill
present obligation as a result of past events, it is probable
The goodwill arising on acquisition of a group of assets is that an outflow of resources will be required to settle the
not amortised and is tested for impairment if indicators of obligation, and a reliable estimate can be made of the
impairment exist. amount of obligation.

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Standalone Financial Statements under India GAAP

A disclosure for a contingent liability is made when there is completion method. When services are performed through
a possible obligation or a present obligation that may, but an indefinite number of repetitive acts over a specified
probably will not, require an outflow of resources. Where period of time, revenue is recognized on a straight-line
there is a possible obligation or a present obligation in basis over the specified period unless some other method
respect of which the likelihood of outflow of resources is better represents the stage of completion.
remote, no provision or disclosure is made.
In certain projects, a fixed quantum of service or output units
Provision for onerous contracts is recognized when the is agreed at a fixed price for a fixed term. In such contracts,
expected benefits to be derived from the contract are revenue is recognized with respect to the actual output
lower than the unavoidable cost of meeting the future achieved till date as a percentage of total contractual output.
obligations under the contract. Any residual service unutilized by the customer is recognized
as revenue on completion of the term.
viii. Revenue recognition
D. Others
The Company derives revenue primarily from software
development, maintenance of software/hardware and The Company accounts for volume discounts and
related services, business process services, sale of IT and pricing incentives to customers by reducing the
other products. amount of revenue recognized at the time of sale.
Services: Revenues are shown net of sales tax, value added tax,
service tax and applicable discounts and allowances.
The Company recognizes revenue when the significant
Revenue includes excise duty.
terms of the arrangement are enforceable, services have
been delivered and collectability is reasonably assured. The The Company accrues the estimated cost of warranties
method of recognizing the revenues and costs depends on at the time when the revenue is recognized. The
the nature of the services rendered: accruals are based on the Companys historical
experience of material usage and service delivery costs.
A. Time and material contracts
Costs that relate directly to a contract and incurred
Revenues and costs relating to time and material contracts
in securing a contract are recognized as an asset and
are recognized as the related services are rendered.
amortised over the contract term.
B. Fixed-price contracts
Contract expenses are recognised as expenses by
Revenues from fixed-price contracts, including systems reference to the stage of completion of contract
development and integration contracts are recognized activity at the end of the reporting period.
using the percentage-of-completion method. Percentage
Products:
of completion is determined based on project costs
incurred to date as a percentage of total estimated project Revenue from products are recognized when the significant
costs required to complete the project. The cost expended risks and rewards of ownership have been transferred to
(or input) method has been used to measure progress the buyer, continuing managerial involvement usually
towards completion as there is a direct relationship associated with ownership and effective control have
between input and productivity. If the Company does ceased, the amount of revenue can be measured reliably,
not have a sufficient basis to measure the progress of it is probable that economic benefits associated with the
completion or to estimate the total contract revenues and transaction will flow to the Company and the costs incurred
costs, revenue is recognized only to the extent of contract or to be incurred in respect of the transaction can be
cost incurred for which recoverability is probable. When measured reliably.
total cost estimates exceed revenues in an arrangement, Other income:
the estimated losses are recognized in the statement of
profit and loss in the period in which such losses become Agency commission is accrued when shipment of
probable based on the current contract estimates. consignment is dispatched by the principal.
Unbilled revenues included in other current asset Interest is recognized using the time-proportion method,
represent cost and earnings in excess of billings as at the based on rates implicit in the transaction.
end of the reporting period. Unearned revenues included Dividend income is recognized when the Companys right
in other current liabilities represent billing in excess of to receive dividend is established.
revenue recognized. Advance payments received from
customers for which no services have been rendered are ix. Leases
presented as Advances from customers. a) Arrangements where the Company is the lessee
C. Maintenance contracts Leases of assets, where the Company assumes
Revenue from maintenance contracts is recognized ratably substantially all the risks and rewards of ownership
over the period of the contract using the percentage of are classified as finance leases. Finance leases are

138 Annual Report 2015-16

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capitalized at the lower of the fair value of the leased operation and are recognized in FCTR. When a foreign
assets at inception and the present value of minimum operation is disposed of, the relevant amount recognized
lease payments. Lease payments are apportioned in FCTR is transferred to the statement of profit and loss as
between the finance charge and the outstanding part of the profit or loss on disposal.
liability. The finance charge is allocated to periods
xi. Financial Instruments
during the lease term at a constant periodic rate of
interest on the remaining balance of the liability. Financial instruments are recognised when the Company
becomes a party to the contractual provisions of the
Leases where the lessor retains substantially all the risks
instrument.
and rewards of ownership are classified as operating
leases. Lease rentals in respect of assets taken under Derivative instruments and Hedge accounting:
operating leases are charged to profit and loss account The Company is exposed to foreign currency fluctuations
on a straight line basis over the lease term. on foreign currency assets, liabilities, net investment in a
b) Arrangements where the Company is the lessor non-integral foreign operation and forecasted cash flows
denominated in foreign currency. The Company limits the
In certain arrangements, the Company recognizes
effects of foreign exchange rate fluctuations by following
revenue from the sale of products given under
established risk management policies including the use of
finance leases. The Company records gross finance
derivatives. The Company enters into derivative financial
receivables, unearned interest income and the
instruments, where the counterparty is primarily a bank.
estimated residual value of the leased equipment
on consummation of such leases. Unearned interest Premium or discount on foreign exchange forward
income represents the excess of the gross finance contracts taken to hedge foreign currency risk of an existing
lease receivable plus the estimated residual value asset / liability is recognised in the statement of profit and
over the sales price of the equipment. The Company loss over the period of the contract. Exchange differences
recognizes unearned interest income as financing on such contracts are recognised in the statement of profit
revenue over the lease term using the effective and loss of the reporting period in which the exchange
interest method. rates change.
x. Foreign currency transactions The Company has adopted the principles of Accounting
Standard 30, Financial Instruments: Recognition and
Transaction:
Measurement (AS 30) issued by the ICAI to the extent
The Company is exposed to currency fluctuations on foreign the adoption of AS 30 does not conflict with existing
currency transactions. Foreign currency transactions are accounting standards prescribed by Companies (Accounts)
accounted in the books of account at the exchange rates Rules, 2014 and other authoritative pronouncements.
prevailing on the date of transaction.
In accordance with the recognition and measurement
The difference between the rate at which foreign currency principles set out in AS 30, changes in fair value of derivative
transactions are accounted and the rate at which they are financial instruments designated as cash flow hedges are
realized is recognized in the statement of profit and loss. recognised directly in Reserves and surplus and reclassified
into the statement of profit and loss upon the occurrence
Translation:
of the hedged transaction.
Monetary foreign currency assets and liabilities at period-
The Company designates derivative financial instruments
end are translated at the exchange rate prevailing at the
as hedges of net investments in foreign operations.
date of Balance Sheet. The difference arising from the
Changes in the fair value of the derivative hedging
translation is recognised in the statement of profit and loss,
instruments and gains/losses on translation or settlement
except for the exchange difference arising on monetary
of foreign currency denominated borrowings designated
items that qualify as hedging instruments in a cash flow
as a hedge of net investment in foreign operations are
hedge or hedge of a net investment in a non-integral
recognized in Reserves and Surplus to the extent that
foreign operation. In such cases the exchange difference is
the hedge is effective. To the extent that the hedge is
initially recognised in hedging reserve or Foreign Currency
ineffective, changes in fair value are recognized in the
Translation Reserve (FCTR), respectively. Such exchange
statement of profit and loss.
differences are subsequently recognised in the statement
of profit and loss on occurrence of the underlying Changes in the fair value relating to the ineffective
hedged transaction or on disposal of the investment, portion of the hedges and derivative instruments that do
respectively. Further, foreign currency differences arising not qualify for hedge accounting are recognised in the
from translation of intercompany receivables or payables statement of profit and loss.
relating to foreign operations, the settlement of which
The fair value of derivative financial instruments is
is neither planned nor likely in the foreseeable future,
determined based on observable market inputs including
are considered to form part of net investment in foreign

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currency spot and forward rates, yield curves, currency Other than financial assets:
volatility etc. The Company assesses at each balance sheet date whether
xii. Depreciation and amortisation there is any indication that a non-financial asset including
goodwill may be impaired. If any such indication exists, the
The Company has provided for depreciation using straight Company estimates the recoverable amount of the asset.
line method over the useful life of the assets as prescribed If such recoverable amount of the asset or the recoverable
under part C of Schedule II of the Companies Act, 2013 amount of the cash generating unit to which the asset
except in the case of following assets which are depreciated belongs to is less than its carrying amount, the carrying
based on useful lives estimated by the Management: amount is reduced to its recoverable amount. The reduction
is treated as an impairment loss and is recognised in the
Class of asset Estimated statement of profit and loss. If at the balance sheet date
useful life there is an indication that a previously assessed impairment
Building 28 40 years loss no longer exists, the recoverable amount is reassessed
Plant and machinery 5 21 years and the asset is reflected at the recoverable amount subject
Office equipment 3 10 years to a maximum of depreciated historical cost. In respect of
Vehicles 4 5 years goodwill, the impairment loss will be reversed only when
it was caused by specific external events of an exceptional
Furniture and fixtures 3 10 years
nature that is not expected to recur and their effects have
Electrical installations (included under plant 2 7 years been reversed by subsequent external events.
and machinery)
Computer equipment and software (included 2 7 years xiv. Employee benefits
under plant and machinery) Provident fund:
For the class of assets mentioned above, based on technical Employees receive benefits from a provident fund, which
assessment the management believes that the useful is a defined benefit plan. The employer and employees
lives as given above best represent the period over which each make periodic contributions to the plan. A portion of
management expects to use these assets. the contribution is made to the approved provident fund
trust managed by the Company while the remainder of
Freehold land is not depreciated. the contribution is made to the government administered
Payments for leasehold land are amortised over the period pension fund. The contributions to the trust managed by the
of lease. Company is accounted for as a defined benefit plan as the
Company is liable for any shortfall in the fund assets based
Assets under finance lease are amortised over their on the government specified minimum rates of return.
estimated useful life or the lease term, whichever is lower.
Compensated absences:
The estimated useful lives of the amortizable intangible
The employees of the Company are entitled to compensated
assets for the current and comparative periods are as follows:
absences. The employees can carry forward a portion of
Class of asset Estimated the unutilized accumulating compensated absences and
useful life utilize it in future periods or receive cash at retirement
or termination of employment. The Company records an
Technical Know-how, Patents, Trademark and 3-5 years
obligation for compensated absences in the period in
others
which the employee renders the services that increases
xiii. Impairment of assets this entitlement. The Company measures the expected
cost of compensated absences as the additional amount
Financial assets: that the Company expects to pay as a result of the unused
The Company assesses at each period end whether there entitlement that has accumulated at the end of the reporting
is any objective evidence that a financial asset or group of period. The Company recognizes accumulated compensated
financial assets is impaired. If any such indication exists, the absences based on actuarial valuation carried out by
Company estimates the amount of impairment loss. The independent actuary using the projected unit credit method.
amount of loss for receivables is measured as the difference Non-accumulating compensated absences are recognized
between the assets carrying amount and undiscounted in the period in which the absences occur. The Company
amount of future cash flows. Impairment loss, if any, is recognizes actuarial gains and losses immediately in the
recognised in the statement of profit and loss. If at the statement of profit and loss account.
balance sheet date there is any indication that a previously Gratuity:
assessed impairment loss no longer exists, the recognised
In accordance with the Payment of Gratuity Act, 1972, the
impairment loss is reversed, subject to maximum of initial
Company provides for a lump sum payment to eligible
carrying amount of the short-term receivable.
employees, at retirement or termination of employment

140 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

based on the last drawn salary and years of employment Deferred taxes are recognised in respect of timing
with the Company. The gratuity fund is managed by the Life differences which originate during the tax holiday period
Insurance Corporation of India (LIC), HDFC Standard Life, but reverse after the tax holiday period. For this purpose,
TATA AIG life and Birla Sun-life. The Companys obligation reversal of timing difference is determined using first in first
in respect of the gratuity plan, which is a defined benefit out method.
plan, is provided for based on actuarial valuation carried
Deferred tax assets and liabilities are measured using the tax
out by an independent actuary using the projected unit
rates and tax laws that have been enacted or substantively
credit method. The Company recognizes actuarial gains
enacted by the balance sheet date. The effect on deferred
and losses immediately in the statement of profit and loss.
tax assets and liabilities of a change in tax rates is recognised
Superannuation: in the period that includes the enactment/substantive
enactment date.
Superannuation plan, a defined contribution scheme,
is administered by the LIC and ICICI Prudential Life Deferred tax assets on timing differences are recognised
Insurance Company Limited. The Company makes annual only if there is a reasonable certainty that sufficient future
contributions based on a specified percentage of each taxable income will be available against which such deferred
covered employees salary. tax assets can be realized. However, deferred tax assets on
the timing differences when unabsorbed depreciation
Termination benefits:
and losses carried forward exist, are recognised only to
Termination benefits are expensed when the Company can the extent that there is virtual certainty that sufficient
no longer withdraw the offer of those benefits. future taxable income will be available against which such
Short-term benefits: deferred tax assets can be realized.

Short-term employee benefit obligations are measured on Deferred tax assets are reassessed for the appropriateness
an undiscounted basis and are recorded as expense as the of their respective carrying amounts at each balance sheet
related service is provided. A liability is recognized for the date.
amount expected to be paid under short-term cash bonus The Company offsets, on a year on year basis, the current
or profit-sharing plans, if the Company has a present legal and non-current tax assets and liabilities, where it has a
or constructive obligation to pay this amount as a result of legally enforceable right and where it intends to settle such
past service provided by the employee and the obligation assets and liabilities on a net basis.
can be estimated reliably.
xvii. Earnings per share
xv. Employee stock options
Basic:
The Company determines the compensation cost based
The number of equity shares used in computing basic
on the intrinsic value method. The compensation cost is
earnings per share is the weighted average number of
amortised on a straight line basis over the vesting period.
shares outstanding during the year excluding equity shares
xvi. Taxes held by controlled trusts.
Income tax: Diluted:
The current charge for income taxes is calculated in The number of equity shares used in computing diluted
accordance with the relevant tax regulations. Tax liability for earnings per share comprises the weighted average
domestic taxes was computed under Minimum Alternate number of equity shares considered for deriving basic
Tax (MAT). MAT credit are being recognized if there is earnings per share, and also the weighted average number
convincing evidence that the Company will pay normal of equity shares that could have been issued on the
tax after the tax holiday period and the resultant asset conversion of all dilutive potential equity shares.
can be measured reliably. The excess tax paid under MAT
Dilutive potential equity shares are deemed converted
provisions being over and above regular tax liability can
proportionately during the period, unless issued at a later
be carried forward for a period of ten years from the year
date. The number of equity shares and potentially dilutive
of recognition and is available for set off against future tax
equity shares are adjusted for any stock splits and bonus
liabilities computed under regular tax provisions, to the
shares issued.
extent of MAT liability.
xviii. Cash flow statement
Deferred tax:
Cash flows are reported using the indirect method,
Deferred tax assets and liabilities are recognised for the
whereby net profits before tax is adjusted for the effects
future tax consequences attributable to timing differences
of transactions of a non-cash nature and any deferrals or
that result between the profit offered for income taxes and
accruals of past or future cash receipts or payments. The
the profit as per the financial statements of each entity in
cash flows from regular revenue generating, investing and
the group of the Company.
financing activities of the Company are segregated.

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Standalone Financial Statements under India GAAP

3. Share capital

As at March 31,
2016 2015
Authorised Capital
2,917,500,000 (2015: 2,917,500,000) equity shares [Par value of ` 2 per share] 5,835 5,835
25,000,000 (2015:25,000,000) 10.25% redeemable cumulative preference shares 250 250
[Par value of ` 10 per share]
150,000 (2015: 150,000) 10% Optionally convertible cumulative preference shares 15 15
[Par value of ` 100 per share]
6,100 6,100
Issued, subscribed and fully paid-up capital
2,470,713,290 (2015: 2,469,043,038) equity shares of ` 2 each [refer note (i) below] 4,941 4,937
Terms / Rights attached to equity shares
The Company has only one class of equity shares having a par value of ` 2 per share. Each holder of equity shares is entitled to
one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors
is subject to shareholders approval in the ensuing Annual General Meeting.
Following is the summary of per share dividends recognised as distributions to equity share holders:

Year ended March 31,

2016 2015
Interim Dividend `5 `5
Final Dividend `1 `7
In the event of liquidation of the Company, the equity share holders will be entitled to receive the remaining assets of the Company,
after distribution of all preferential amounts, if any, in proportion to the number of equity shares held by the shareholders.
(i) Reconciliation of number of shares

As at March 31, 2016 As at March 31, 2015

No of Shares ` million No of shares ` million
Opening number of equity shares / American Depository
Receipts (ADRs) outstanding 2,469,043,038 4,937 2,466,317,273 4,932
Equity shares/American Depository Receipts (ADRs) issued
pursuance to Employee Stock Option Plan 1,670,252 4 2,725,765 5
Closing number of equity shares / ADRs outstanding 2,470,713,290 4,941 2,469,043,038 4,937

142 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

(ii) Details of shareholders having more than 5% of the total equity shares of the Company

Sl. Name of the Shareholder As at March 31, 2016 As at March 31, 2015
No. No of shares % held No of shares % held
1 Mr. Azim Hasham Premji Partner representing Hasham Traders 370,956,000 15.01 370,956,000 15.02
2 Mr. Azim Hasham Premji Partner representing Prazim Traders 452,906,791 18.33 452,906,791 18.34
3 Mr. Azim Hasham Premji Partner representing Zash Traders 451,619,790 18.28 451,619,790 18.29
4 Azim Premji Trust 429,714,120 17.39 429,714,120 17.40

(iii) Other details of Equity Shares for a period of five years immediately preceding March 31, 2016

As at March 31,
2016 2015
Aggregate number of share allotted as fully paid up pursuant to contract(s) without payment 195,717 841,585
being received in cash
(Allotted to the Wipro Inc Trust, the sole beneficiary of which is Wipro LLC, a wholly owned
subsidiary of the Company, in consideration of acquisition of inter-company investments)
Aggregate number of shares allotted as fully paid bonus shares - 979,119,256
Aggregate number of shares bought back* - -
* On April 20, 2016, the Board of Directors approved a buyback proposal for purchase by the Company of up to 40 million
shares of ` 2 each (representing 1.62% of total equity capital) from the shareholders of the Company on a proportionate
basis by way of a tender offer at a price of ` 625 per equity share for an aggregate amount not exceeding ` 25,000 million in
accordance with the provisions of the Companies Act, 2013 and the SEBI (Buy Back of Securities) Regulations, 1998.
(iv) Shares reserved for issue under option
For details of shares reserved for issue under the employee stock option plan of the Company, refer note 39.

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Standalone Financial Statements under India GAAP

4. Reserves and Surplus:

As at March 31,
2016 2015
Capital Reserve
Balance brought forward from previous year 1,139 1,139
1,139 1,139
Capital Redemption Reserve
Balance brought forward from previous year 14 14
14 14
Securities premium account
Balance brought forward from previous year 13,642 12,733
Add: Exercise of stock options by employees 612 909
14,254 13,642
Restricted stock units reserve [refer note 39] *
Balance brought forward from previous year 815 3,380
Movement during the year 1,087 (2,565)
1,902 815
General reserve
Balance brought forward from previous year 159,783 151,486
Compensation cost related to Employee share based payment transaction - 104
Amount transferred from surplus balance in the statement of profit and loss - 8,193
159,783 159,783
Special economic zone re-investment reserve (1)
Transferred from surplus 1,342 -
Less: Transferred to surplus on utilisation (1,342) -
- -
Foreign currency translation reserve [refer note 2(x)]
Balance brought forward from previous year 1,669 608
On account of foreign operations (48) 1,061
1,621 1,669
Hedging reserve [refer note 35 & 2 (xi)]
Balance brought forward from previous year 4,270 569
Deferred cancellation (loss)/gain (3) 101
Changes in fair value of effective portion of derivatives 1,079 6,469
Net (gain)/loss reclassified to statement of income on occurrence of hedged Transactions (2,977) (2,869)
2,369 4,270
Surplus from statement of profit and loss
Balance brought forward from previous year 159,947 121,769
Profit for the year 80,990 81,931
Less: Transferred to Special economic zone re-investment reserve 1,342 -
Less: Appropriations
- Interim dividend [refer note 3] 12,352 12,353
- Proposed dividend [refer note 3] 2,471 17,283
- Tax on dividend 3,085 5,924
- Amount transferred to general reserve - 8,193
Transferred from Special economic zone re-investment reserve on utilisation 1,342 -
Closing balance 223,029 159,947
404,111 341,279
*Restricted stock units reserve includes Deferred Employee Compensation, which represents future charge to the statement of
profit and loss and employee stock options outstanding to be treated as securities premium at the time of allotment of shares.
(1)
The Special Economic Zone Re-Investment Reserve has been created out of profit of eligible SEZ units in the term of provision
of section 10AA (1)(ii) of the Incometax Act, 1961.The reserve has been utilized by the Company for acquiring new plant and
machinery in SEZ units in the terms of the section 10AA of the Income tax Act, 1961.

144 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

5. Share application money pending allotment

Share application money pending allotment represents monies received against shares to be issued under the employee
stock option plan formulated by the Company as at the year end. Securities premium on account of shares pending allotment
amounts to ` 2 and ` 3 as at March 31, 2016 and 2015, respectively included in the Restricted stock units reserve. The Company
has sufficient authorized equity share capital to cover the share capital amount arising from allotment of shares pending
allotment as at March 31, 2016 and 2015 and there are no interest accrued and due on amounts due for refund as at March
31, 2016 and 2015.
6. Long term borrowings

As at March 31,
2016 2015
Secured:
Obligation under finance lease (a) 1,201 1,143
1,201 1,143
Unsecured:
Term loan:
External commercial borrowing (b) 9,938 9,375
Others 326 114
10,264 9,489
11,465 10,632
(a)
Obligation under finance lease is secured by underlying fixed assets. The legal title of these items vests with the lessors. These
obligations are repayable in monthly installments up to year ending March 31, 2021. The interest rate for these obligations ranges
from 0.21% to 10.61% (2015: 1.43% to 13.84%). [refer note 37]
(b)
The Company entered into an arrangement with a consortium of banks to obtain External Commercial Borrowings (ECB) during
the year ended March 31, 2014. Pursuant to this arrangement, the Company has availed ECB of 150 million dollar repayable in
full in June 2018. The ECB carries an average interest rate of LIBOR+1.25% p.a (2015: LIBOR+1.25% p.a.). The ECB is an unsecured
borrowing and the Company is subject to certain customary restrictions on additional borrowings and quantum of payments
for acquisitions in a financial year.
As at March 31, 2016 and 2015, the Company has complied with all the covenants under the loan arrangements.
7. Other long term liabilities

As at March 31,
2016 2015
Derivative liabilities 118 71
Others 346 210
464 281
8. Long term provisions
As at March 31,
2016 2015
Employee benefit obligations 3,977 2,731
Warranty provision [refer note 40] 14 5
3,991 2,736
Employee benefit obligations include provision for gratuity, other retirement benefits and compensated absences.

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Standalone Financial Statements under India GAAP

9. Short term borrowings

As at March 31,
2016 2015
Unsecured:
Loan repayable on demand from banks(a) 54,838 49,477
Cash credit(b) 657 227
55,495 49,704
(a)
Rate of Interest for PCFC loan ranges from 0.24% to 0.79% (Monthly Libor + Spread) (2015: 0.27% - 0.63%) and other than PCFC
loan 0.42% (Monthly Libor + Spread) (2015: 7.5%)
(b)
The interest rate for cash credit is ranging from 1% to 9% (2015:0.40%)
10. Trade payables

As at March 31,
2016 2015
Trade payables 37,732 37,284
Accrued expenses 22,199 20,004
59,931 57,288
11. Other current liabilities

As at March 31,
2016 2015
Current maturities of long-term borrowings (a) 333 104
Current maturities of obligation under finance lease (a) 836 586
Unearned revenue 14,222 14,021
Statutory liabilities 3,068 3,417
Derivative liabilities 5,084 3,922
Capital creditors 854 703
Advances from customers 1,881 1,989
Unclaimed dividends 52 25
Interest accrued but not due on borrowings 126 404
Balances due to related parties[refer note 45] 196 340
26,652 25,511
(a)
For rate of interest and other terms and conditions, refer note 6
12. Short term provisions

As at March 31,
2016 2015
Employee benefit obligations 4,859 4,438
Provision for tax 14,594 14,055
Proposed dividend 2,471 17,283
Tax on proposed dividend 503 3,456
Warranty provision [refer note 40] 336 333
Provisions-others taxes [refer note 40] 874 1,211
Others 356 374
23,993 41,150
Employee benefit obligations include other retirement benefits and compensated absences.

146 Annual Report 2015-16

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13. Tangible assets

Land(a) Buildings Plant and Furniture Office Vehicles Total

machinery(d) and equipment
fixtures
Gross carrying value
As at April 1, 2014 4,756 20,147 49,927 8,179 2,975 827 86,811
Additions(b) - 272 6,767 416 223 2 7,680
Disposal/Adjustments - (68) (4,194) (253) (20) (128) (4,663)
As at March 31, 2015 4,756 20,351 52,500 8,342 3,178 701 89,828

As at April 1, 2015 4,756 20,351 52,500 8,342 3,178 701 89,828

Additions/adjustments(b) 12 1,476 8,345 589 410 13 10,845
Disposal/Adjustments 10 (55) (1,552) (425) (77) (224) (2,323)
As at March 31, 2016 4,778 21,772 59,293 8,506 3,511 490 98,350

Accumulated depreciation/
Impairment
As at April 1, 2014 379 2,639 38,459 5,982 2,313 824 50,596
Charge for the year 39 564 6,039 832 285 5 7,764
Deductions / other adjustments(c) - 9 (3,936) (178) 9 (136) (4,232)
As at March 31, 2015 418 3,212 40,562 6,636 2,607 693 54,128

As at April 1, 2015 418 3,212 40,562 6,636 2,607 693 54,128

Charge for the year 26 644 7,115 605 248 2 8,640
Deductions / other adjustments(c) - (42) (982) (391) (45) (220) (1,680)
As at March 31, 2016 444 3,814 46,695 6,850 2,810 475 61,088

Net Block
As at March 31, 2015 4,338 17,139 11,938 1,706 571 8 35,700
As at March 31, 2016 4,334 17,958 12,598 1,656 701 15 37,262
(a)
Includes gross block of ` 1,580 (2015: ` 1,613) and accumulated amortization of ` 445 (2015: ` 418) being leasehold land.
(b)
Interest capitalized during the year ended March 31, 2016, aggregated to ` 73 (2015: ` 105).
(c)
Includes regrouping/reclassification within the block of assets.
(d)
Includes net carrying value of computer equipment and software amounting to ` 18,408 as at March 31, 2016 (March 31, 2015
` 12,595)

Wipro Limited 147

Standalone Financial Statements under India GAAP

14. Intangible assets and goodwill

Patents,
Technical trademarks and
Goodwill Know-how others Total
Gross carrying value
As at April 1, 2014 3,434 111 78 3,623
Disposal/Adjustments - (100) - (100)
Translation Adjustment 1,187 - - 1,187
As at March 31, 2015 4,621 11 78 4,710

As at April 1, 2015 4,621 11 78 4,710

Disposal/Adjustments - (11) - (11)
Translation Adjustment - - - -
As at March 31, 2016 4,621 - 78 4,699

Amortization
As at April 1, 2014 - 75 13 88
Charge for the year - 8 12 20
Disposal/Adjustments - (82) - (82)
As at March 31, 2015 - 1 25 26

As at April 1, 2015 - 1 25 26
Charge for the year - - 49 49
Disposal/Adjustments - (1) - (1)
As at March 31, 2016 - - 74 74

Net Block
As at March 31, 2015 4,621 10 53 4,684
As at March 31, 2016 4,621 - 4 4,625

15. Non-current investments

(Valued at cost unless stated otherwise)

As at March 31,
2016 2015
Trade
Investments in unquoted equity instruments
- Subsidiaries [refer note 43 (i)] 49,229 49,229
Investments in unquoted preference shares
- Subsidiary [refer note 43 (ii)] 6,659 3,478
Non-trade
Investment in unquoted equity instruments
- Others [refer note 43 (iii)] 3,233 3,116
59,121 55,823
Less: Provision for diminution in value of non-current investments (1,793) (26)
57,328 55,797

148 Annual Report 2015-16

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16. Long term loans and advances

(Unsecured, considered good unless otherwise stated)

As at March 31,
2016 2015
Loans to subsidiary companies* 1,607 1,848
Capital advances 2,388 1,482
Prepaid expenses 4,219 2,602
Security deposits 1,530 1,383
Other deposits 273 206
Deferred contract costs 3,807 4,445
Advance income tax, net of provision for tax 18,270 16,906
MAT credit entitlement 1,490 1,838
33,584 30,710
* Refer note 45 for loans given to subsidiaries.
17. Other non-current assets

As at March 31,
2016 2015
Secured, considered good:
Finance lease receivables 2,264 2,632
2,264 2,632
Unsecured, considered good:
Derivative assets 260 736
260 736
2,524 3,368
Finance lease receivables are secured by the underlying assets given on lease (refer note 36).
18. Current investments
(Valued at cost or fair value whichever is less)

As at March 31,
2016 2015
Quoted
Investments in Indian money market mutual funds * [refer note 44 (i)] 10,237 10,199
Investments in debentures [refer note 44 (ii)] 751 751
10,988 10,950
Unquoted
Certificate of deposit/bonds [refer note 44 (iii)] 116,314 40,938
116,314 40,938
127,302 51,888
Aggregate market value of quoted investments 11,395 11,024

Aggregate book value of quoted investments (current and non-current) 10,988 10,950
Aggregate book value of unquoted investments (current and non-current) 173,642 96,735
* includes investments in mutual fund amounting to ` 109 (2015: Nil) pledged as margin money deposit for entering into currency
future contracts. The remaining maturity of such outstanding future contracts does not exceed 12 months from the reporting date.

Wipro Limited 149

Standalone Financial Statements under India GAAP

19. Inventories
(At lower of cost and net realizable value)

As at March 31,
2016 2015
Raw materials - 2
Work in progress - 2
Finished goods [including goods in transit - ` 2 (2015 : ` 8)] 8 8
Traded goods 4,383 3,850
Stores and spares 871 932
5,262 4,794
20. Trade Receivables

As at March 31,
2016 2015
Unsecured:
Over six months from the date they were due for payment
Considered good 11,126 8,804
Considered doubtful 6,029 4,377
17,155 13,181
Less: Provision for doubtful receivables (6,029) (4,377)
11,126 8,804
Other receivables
Considered good 75,922 72,638
Considered doubtful 192 132
76,114 72,770
Less: Provision for doubtful receivables (192) (132)
75,922 72,638
87,048 81,442
21. Cash and bank balances

As at March 31,
2016 2015
Cash and cash equivalents
Balances with banks
- In current accounts 52,717 41,903
- Unclaimed dividend 53 25
- In deposit accounts 30,716 106,429
Cheques, drafts on hand 602 1,067
Cash on hand -* 1
84,088 149,425
Other Deposits with banks 35,990 7,250
Total 120,078 156,675

Deposit accounts with more than 3 months but less than 12 months maturity 62,490 99,510
Deposit accounts with more than 12 months maturity - -
Cash and cash equivalents include restricted cash balance of ` 53 (2015:` 25) primarily on account of unclaimed dividends.
*Value is less than one million rupees

150 Annual Report 2015-16

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22. Short term loans and advances

(Unsecured, considered good unless otherwise stated)

As at March 31,
2016 2015
Employee travel and other advances 3,572 3,264
Advance to suppliers 991 1,173
Balance with excise, customs and other authorities 1,573 1,475
Prepaid expenses and other deposits 10,110 9,252
Inter corporate and term deposits 33,400 31,250
Deferred contract costs 3,720 3,610
Others 1,629 2,537
Others, considered doubtful 714 865
55,709 53,426
Less: Provision for doubtful loans and advances (714) (865)
54,995 52,561
23. Other current assets

As at March 31,
2016 2015
Secured and considered good:
Finance lease receivables 1,824 3,190
1,824 3,190
Unsecured and considered good:
Derivative assets 7,761 7,474
Interest receivable 8,917 7,144
Unbilled revenue 37,100 33,387
53,778 48,005
55,602 51,195
Finance lease receivables are secured by the underlying assets given on lease (refer note 36).

Wipro Limited 151

Standalone Financial Statements under India GAAP

24. Revenue from operations (gross)

Year ended March 31,

2016 2015
Sale of products 26,468 27,492
Sale of services 420,378 384,608
446,846 412,100
(A) Details of revenue from sale of products

Year ended March 31,

2016 2015
Mini computers/micro-processor based systems including accessories, MS licenses - 80
Networking, storage equipment, servers, software licenses 26,449 27,185
Others 19 227
26,468 27,492
Less: Excise duty - (2)
26,468 27,490
(B) Details of revenue from services rendered

Year ended March 31,

2016 2015
Software services 390,049 356,576
IT enabled services 29,588 27,175
Others 741 857
420,378 384,608
25. Other income

Year ended March 31,

2016 2015
Income from current investments
- Dividend on mutual fund units 66 224
- Profit on sale of investment, net 2,634 3,948
Interest income from banks and others 20,536 15,610
Other exchange differences, net 3,431 4,259
Miscellaneous income 1,048 949
27,715 24,990
26. Cost of materials consumed

Year ended March 31,

2016 2015
Opening stock 2 36
Add: Purchases - -
Less: Closing stock - (2)
2 34

152 Annual Report 2015-16

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27. Changes in inventories of finished goods, work in progress and Stock-in-trade

Year ended March 31,

2016 2015
Opening stock
Work in progress 2 16
Traded goods 3,850 1,236
Finished products 8 65
3,860 1,317
Less: Closing stock
Work in progress - 2
Traded goods 4,383 3,850
Finished products 8 8
4,391 3,860
(Increase) (531) (2,543)
Details of purchase of traded goods

Year ended March 31,

2016 2015
Networking equipments, storage devices and servers 17,007 17,142
Operating systems and software licenses 7,383 8,808
Desktops, laptops, printers and other peripherals 968 577
Others 1,197 1,437
26,555 27,964
28. Employee benefits expense

Year ended March 31,

2016 2015
Salaries and wages 202,152 188,024
Contribution to provident and other funds 5,641 3,727
Share based compensation 1,601 1,296
Staff welfare expenses 4,403 4,216
213,797 197,263
29. Finance costs

Year ended March 31,

2016 2015
Interest 820 511
Exchange fluctuations on foreign currency borrowings, net 4,458 3,118
(to the extent regarded as borrowing cost)
5,278 3,629

Wipro Limited 153

Standalone Financial Statements under India GAAP

30. Other expenses

Year ended March 31,

2016 2015
Sub-contracting / technical fees / third party application 64,863 52,076
Travel 21,077 19,662
Provision for diminution in the value of non-current investments 1,793 26
Repairs to building 193 343
Repairs to machinery 10 12
Power and fuel 2,492 2,426
Rent 2,905 2,682
Communication 3,378 4,011
Advertisement and sales promotion 2,267 1,567
Legal and professional 3,261 2,965
Staff recruitment 845 1,119
Carriage and freight 51 88
Consumption of stores and spares (12) (28)
Insurance 687 547
Rates and taxes 858 728
Auditors remuneration
As auditor 40 44
For certification including tax audit 1 2
Reimbursement of expenses 3 3
Miscellaneous expenses 11,239 9,114
115,951 97,387

154 Annual Report 2015-16

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31. Corporate Social Responsibility

a) Gross amount required to be spent by the Company during the year ` 1,560.
b) Amount spent during the year on:
(` In Million)
Sr. no Particulars In cash Yet to be paid in cash Total
(i) Construction/acquisition of any asset Nil Nil Nil
(ii) On purpose other than (i) above 1,134 464 1,598

32. Capital commitments In March 2004, the Company received a tax demand for
year ended March 31, 2001 arising primarily on account of
The estimated amount of contracts remaining to be denial of deduction under section 10A of the Income Tax
executed on Capital account and not provided for, net of Act, 1961 (Act) in respect of profit earned by the Companys
advances is ` 10,109 (2015: ` 863). undertaking in Software Technology Park at Bangalore. The
33. Contingent Liabilities, to the extent not provided for same issue was repeated in the successive assessments for
the years ended March 31, 2002 to March 31, 2011 and
Contingent liabilities in respect of: the aggregate demand is 47,583 (including interest of
13,832). The appeals filed against the said demand before
As at March 31, the Appellate authorities have been allowed in favor of
2016 2015 the Company by the second appellate authority for the
Disputed demands for excise years up to March 31, 2007. Further appeals have been
duty, customs duty, sales tax filed by the Income tax authorities before the Honble High
and other matters 2,654 2,560 Court. The Honble High Court has heard and disposed-off
Performance and financial majority of the issues in favor of the Company up to years
guarantees given by the banks ended March 31, 2004.
on behalf of the company 21,074 18,084 On similar issues for years up to March 31, 2000, the
Guarantees given by the Honble High Court of Karnataka has upheld the claim of
Company on behalf of the Company under section 10A of the Act. For the years
subsidiaries 10,014 8,715 ended March 31, 2008 and March 31, 2009, the appeals are
The Companys Indian operations have been established as pending before Income Tax Appellate Tribunal (Tribunal).
units in Special Economic Zone and Software Technology For years ended March 31, 2010 and March 31, 2011, the
Park Unit under plans formulated by the Government of Dispute Resolution Panel (DRP) allowed the claim of the
India. As per the plan, the Companys India operations Company under section 10A of the Act. The Income tax
have export obligations to the extent of net positive authorities have filed an appeal before the Tribunal.
foreign exchange (i.e. foreign exchange inflow - foreign For year ended March 31, 2012, the Company received the
exchange outflow should be positive) over a five year draft assessment order in March 2016 with a proposed
period. The consequence of not meeting this commitment demand of 4,241 (including interest of 1,376), arising
in the future would be a retroactive levy of import duties primarily on account of section 10AA issues with respect
on certain hardware previously imported duty free. As at to exclusion from Export Turnover. Company has filed an
March 31, 2016, the Company believes that it has met all objection before DRP within the prescribed timelines.
the commitments substantially required under the plan.
Considering the facts and nature of disallowance and the
Tax Demands: order of the appellate authority / Honble High Court of
The Company is subject to legal proceedings and claims Karnataka upholding the claims of the Company for earlier
(including tax assessment orders/ penalty notices) which years, the Company believes that the final outcome of the
have arisen in the ordinary course of its business. Some above disputes should be in favor of the Company and
of the claims involve complex issues and it is not possible there should not be any material adverse impact on the
to make a reasonable estimate of the expected financial financial statements.
effect, if any, that will result from ultimate resolution of 34. Adoption of AS 30
such proceedings. However, the resolution of these legal
proceedings is not likely to have a material and adverse The Company has applied the principles of AS 30, Financial
effect on the results of operations or the financial position of Instruments: Recognition and measurement, as per
the Company. The significant of such matters are discussed announcement by the ICAI to the extent such principles of
below. AS 30 does not conflict with existing accounting standards
prescribed under Section 133 of the Companies Act,

Wipro Limited 155

Standalone Financial Statements under India GAAP

2013 (Act) read with Rule 7 of the Companies (Accounts) As of the balance sheet date, the Company has net foreign
Rules, 2014, the provisions of Companies Act, 2013 (to the currency exposures that are not hedged by a derivative
extent notified and applicable) and other authoritative instrument or otherwise amounting to ` 15,879
pronouncements. (2015: ` 18,398).
The Company has derivative contracts designated as capital 36. Finance lease receivables
hedges amounting to Nil (March 31, 2015: USD 145 Million) The Company provides lease financing for products
and has also designated a dollar-denominated foreign primarily through finance leases. The finance lease portfolio
currency borrowing amounting to USD 150 Million (March contains only the normal collection risk with no significant
31, 2015: USD 150 Million) as a hedging instrument to uncertainties with respect to future costs. These receivables
hedge net investment in non-integral foreign operations. are generally due in monthly or quarterly installments over
As equity investments in non-Integral foreign subsidiaries / periods ranging from 1 to 7 years.
operations are stated at historical cost, in these standalone
financial statements, the changes in fair value of derivative The components of finance lease receivables are as follows:
contracts and impact of restatement of foreign currency As at March 31,
borrowing amounting to (loss) / gain of ` (523) for the year 2016 2015
ended March 31, 2016 hasbeen recorded in the statement Gross investment in lease
of profit and loss. (2015: ` 390). Not later than one year 1,977 3,397
35. Derivatives Later than one year and not later
than five years 2,384 2,835
As at March 31, 2016 the Company has recognised gain of Later than five years - 73
` 2,369 million (March 31, 2015: ` 4,270 million) relating Unguaranteed residual values 62 62
to derivative financial instruments (comprising foreign 4,423 6,367
currency forward contract, option contracts and interest Unearned finance income (335) (545)
rate swap) that are designated as effective cash flow hedges
Net investment in finance
in the shareholders fund.
receivables 4,088 5,822
The following table presents the aggregate contracted Present value of minimum lease receivables are as follows:
principal amounts of the Companys derivative contracts
outstanding as at: As at March 31,
(In Millions) 2016 2015
Particulars As at March 31, Present value of minimum lease
2016 2015 payments receivables 4,088 5,822
Designated derivative instruments Not later than one year 1,824 3,149
Sell $ 922 $ 836 Later than one year and not later
than five years 2,206 2,558
248 198
Later than five years - 57
AUD 139 AUD 83
Unguaranteed residual value 58 58
278 220
37. Assets taken on lease
SAR 19 SAR - Finance leases:
AED 7 AED -
The following is a schedule of present value of future minimum
Interest rate swap $ 150 $ 150
lease payments under finance leases, together with the value
Non designated derivative
of the minimum lease payments as at March 31, 2016
Instruments
Sell $ 1,298 $ 1,449 As at March 31,
AUD 35 AUD 53 2016 2015
55 67 Present value of minimum lease
87 60 payments
JPY 490 JPY 490 Not later than one year 836 586
SGD 3 SGD 13 Later than one year and not
ZAR 110 ZAR 69 later than five years 1,201 1,143
CAD 11 CAD 30 Total present value of minimum
CHF 10 CHF 10 lease payments 2,037 1,729
SAR 58 SAR - Add: Amount representing interest 234 216
AED 7 AED - Total value of minimum lease
payments 2,271 1,945
Buy $ 822 $ 790

156 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

Operating leases: The Company has invested the plan assets in the insurer
The Company has taken on lease office, residential facilities managed funds. The expected rate of return on plan assets
and IT equipments under cancelable and non-cancelable is based on expectation of the average long term rate of
operating lease agreements that are renewable on a periodic return expected on investments of the fund during the
basis at the option of both the lessor and the lessee. Rental estimated term of the obligation. Expected contribution
payments under such leases are ` 2,905 and ` 2,682 during to the fund for the year ending March 31, 2017 is ` 1,150.
the years ended March 31, 2016 and 2015, respectively. Net gratuity cost for the year ended March 31, 2016 and
Details of contractual payments under non-cancelable 2015 are as follows:
leases are given below:
Year ended March 31,
As at March 31, 2016 2015
2016 2015
Current service cost 909 618
Not later than one year 1,875 1,488
Later than one year and not later Interest on obligation 356 348
than five years 4,407 2,985 Expected return on plan assets (365) (274)
Later than five year 1,561 837 Actuarial loss 1,033 74
Total 7,843 5,310 Net gratuity cost 1,933 766
38. Employee benefit plans
The weighted average actuarial assumptions used to determine
Gratuity: benefit obligations and net periodic gratuity cost are:
In accordance with the Payment of Gratuity Act, 1972,
applicable for Indian companies, the Company provides for Assumptions As at March 31,
a lump sum payment to eligible employees, at retirement or 2016 2015
termination of employment based on the last drawn salary Discount rate 7.75% 7.95%
and years of employment with the Company. The gratuity Rate of increase in compensation
fund is managed by the Life Insurance Corporation of India levels 8% 8%
(LIC), HDFC Standard Life, TATA AIG and Birla Sun-life. The Rate of return on plan assets 7.75% 7.95%
Companys obligation in respect of the gratuity plan, which
is a defined benefit plan, is provided for based on actuarial Details for the present value of defined obligation, fair value of
valuation using the projected unit credit method. The assets, surplus/ (deficit) of assets and experience adjustments of
Company recognizes actuarial gains and losses immediately current year and preceding four years are as under:
in other comprehensive income, net of taxes.
As at March 31,
Change in the benefit obligation As at March 31, 2016 2015 2014 2013 2012
2016 2015
Projected benefit obligation (PBO) Experience
at the beginning of the year 4,365 3,682 adjustments:
Current service cost 909 618 On plan liabilities 797 1 (22) (50) (140)
Interest on obligation 356 348 On plan assets (53) 105 17 44 52
Benefits paid (530) (462)
Actuarial loss 980 179 Present value of
Projected benefit obligation (PBO) benefit obligation 6,080 4,365 3,682 3,070 2,819
at the end of the year 6,080 4,365 Fair value of plan
assets 5,996 4,327 3,345 3,026 2,815
Change in plan assets As at March 31, Excess of (84) (38) (337) (44) (4)
2016 2015
(obligations over
Fair value of plan assets at the
plan assets)/
beginning of the year 4,327 3,345
plan assets over
Expected return on plan assets 365 274
obligations
Employer contributions 1,887 1,065
Benefits paid (530) (462) The Company assesses these assumptions with its projected
Actuarial (loss)/ gain (53) 105 long-term plans of growth and prevalent industry standards.
Fair value of plan assets at the end The estimates of future salary increase, considered in actuarial
of the year 5,996 4,327 valuation, take account of inflation, seniority, promotion and
Present value of unfunded other relevant factors such as supply and demand factors in the
obligation (84) (38) employment market.
Recognized liability (84) (38)

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Provident fund (PF): In addition to the above, all employees ii) The stock compensation cost is computed under the
receive benefits from a provident fund. The employee and intrinsic value method and amortised on a straight line
employer each make monthly contributions to the plan. A basis over the total vesting period of five years. The intrinsic
portion of the contribution is made to the provident fund value on the date of grant approximates the fair value. For
trust established by the Company, while the remainder of the year ended March 31, 2016, the Company has recorded
the contribution is made to the Government administered stock compensation expense of `1,601 (2015: ` 1,296).
pension fund.
iii) The compensation committee of the board evaluates the
The interest rate payable by the trust to the beneficiaries performance and other criteria of employees and approves
is regulated by the statutory authorities. The Company has the grant of options. These options vest with employees
an obligation to make good the shortfall, if any, between over a specified period subject to fulfillment of certain
the returns from its investments and the administered rate. conditions. Upon vesting, employees are eligible to apply
and secure allotment of Companys shares at a price
The details of fund and plan assets are given below:
determined on the date of grant of options. The particulars
Change in the benefit As at March 31, of options granted under various plans are tabulated below.
obligation (The number of shares in the table below is adjusted for
2016 2015
any stock splits and bonus shares issues).
Fair value of plan assets 36,019 28,445
Present value of defined Wipro Employee Stock Option Plans and Restricted
benefit obligation 36,019 28,445 Stock Unit Option Plans
Net (shortfall)/excess - - A summary of the general terms of grants under stock
The principal assumptions used in determining the option plans and restricted stock unit option plans are as
present value obligation of interest guarantee under the follows:
deterministic approach are as follows:
Name of Plan Authorised Range of
Assumptions As at March 31, Shares Exercise
Prices
2016 2015
Discount rate 7.75% 7.95% Wipro Employee Stock Option 50,000,000 ` 171 490
Plan 1999 (1999 Plan)
Average remaining tenure of
investment portfolio 6 Years 6 Years Wipro Employee Stock Option 280,303,030 ` 171 490
Guaranteed rate of return 8.75% 8.75% Plan 2000 (2000 Plan)
Stock Option Plan (2000 ADS Plan) 15,000,000 US$ 37
For the year ended March 31, 2016, the Company contributed
` 3,164 (2015: ` 2,490) towards provident fund. Wipro Restricted Stock Unit Plan 22,424,242 ` 2
(WRSUP 2004 plan)
39. Employee stock option
Wipro ADS Restricted Stock Unit 22,424,242 US$ 0.03
i) Employees covered under Stock Option Plans and Plan (WARSUP 2004 plan)
Restricted Stock Unit (RSU) Option Plans (collectively stock Wipro Employee Restricted Stock 22,424,242 ` 2
option plans) are granted an option to purchase shares Unit Plan 2005 (WSRUP 2005 plan)
of the Company at the respective exercise prices, subject Wipro Employee Restricted Stock 18,686,869 ` 2
to requirements of vesting conditions. These options Unit Plan 2007 (WSRUP 2007 plan)
generally vests in tranches over a period of 3 to 5 years
Wipro Equity Reward Trust Employee 14,829,824 ` 2
from the date of grant. Upon vesting, the employees can
Stock Purchase Plan, 2013
acquire one equity share for every option. The maximum
contractual term for these stock option plans is generally
7 years.

158 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

The activity in these stock option plans is summarized below:

As at March 31,
2016 2015
Range of Number Weighted Number Weighted
Exercise Average Average
Prices Exercise Exercise
Price Price
Outstanding at the beginning of the period (1) ` 480 489 20,181 ` 480.20 33,636 ` 480.20
` 2 6,332,219 ` 2 8,007,354 ` 2
US$ 0.03 2,576,644 US$ 0.03 2,096,492 US$ 0.03
Granted ` 480 489 ` `
` 2 2,870,400 ` 2 2,480,000 ` 2
US$ 0.03 1,697,700 US$ 0.03 1,689,500 US$ 0.03
Exercised ` 480 489 ` 480.20 (13,455) ` 480.20
` 2 (1,329,376) ` 2 (1,968,609 ) ` 2
US$ 0.03 (340,876) US$ 0.03 (743,701 ) US$ 0.03
Forfeited and lapsed ` 480 489 ` `
` 2 (618,917) ` 2 (2,186,526 ) ` 2
US$ 0.03 (186,038) US$ 0.03 (465,647 ) US$ 0.03
Outstanding at the end of the period ` 480 489 20,181 ` 480.20 20,181 ` 480.20
` 2 7,254,326 ` 2 6,332,219 ` 2
US$ 0.03 3,747,430 US$ 0.03 2,576,644 US$ 0.03
Exercisable at the end of the period ` 480 489 20,181 ` 480.20 ` 480.20
` 2 1,204,405 ` 2 1,389,772 ` 2
US$ 0.03 256,753 US$ 0.03 180,683 US$ 0.03
(1)
During the year March 2013, an adjustment of one employee stock option for every 8.25 employee stock option held has been
made, for each eligible employee pursuant to the terms of the Demerger Scheme.
The following table summarizes information about outstanding stock options:
2016 2015
Weighted Weighted
Average Weighted Average Weighted
Remaining Average Remaining Average
Life Exercise Life Exercise
Range of Exercise price Numbers (Months) Price Numbers (Months) Price
` 480 489 20,181 - ` 480.20 20,181 24 ` 480.20
` 2 7,254,326 23 ` 2 6,332,219 25 ` 2
US$ 0.03 3,747,430 24 US$ 0.03 2,576,644 31 US$ 0.03
The weighted-average grant-date fair value of options granted during the year ended March 31, 2016 was ` 699.96 (2015: ` 658.12)
for each option. The weighted average share price of options exercised during the year ended March 31, 2016 was ` 608.62 (2015:
` 603.58) for each option.
The movement in Restricted Stock Unit reserve is summarized below:
Year ended March 31,
2016 2015
Opening balance 815 309
Less: Amount transferred to share premium (612) (909)
Add: Amortisation* 1,639 1,327
Add: Amortisation in respect of share based compensation to Wipro Enterprises (P) Limited 60 88
Closing balance 1,902 815
* Includes amortization expense relating to options granted to employees of the Companys subsidiaries, amounting to
` 38 (2015: ` 31). This expense has been debited to respective subsidiaries.

Wipro Limited 159

Standalone Financial Statements under India GAAP

40. Provisions

Provision for warranty represent cost associated with providing sales support services which are accrued at the time of
recognition of revenues and are expected to be utilized over a period of 1 to 2 years from the balance sheet date. Other
provisions primarily include provisions for tax related contingencies and litigations. The timing of cash outflows in respect of
such provision cannot be reasonably determined. The activity in the provision balance is summarized below:

Year ended March 31,

2016 2015
Provision for Others taxes Provision for Others - taxes
Warranty Warranty
Provision at the beginning of the year 338 1,211 282 1,031
Additions during the year, net 272 83 278 187
Utilized/Reversed during the year (260) (420) (222) (7)
Provision at the end of the year 350 874 338 1,211
Non-current portion 14 - 5 -
Current portion 336 874 333 1,211
41. Earnings per share
The computation of equity shares used in calculating basic and diluted earnings per share is set out below:
Year ended March 31,
2016 2015
Weighted average equity shares outstanding 2,471,389,224 2,470,776,266
Share held by controlled trust (14,829,824) (16,094,616)
Weighted average equity shares for computing basic EPS 2,456,559,400 2,454,681,650
Dilutive impact of employee stock options 4,665,529 7,109,442
Weighted average equity shares for computing diluted EPS 2,461,224,929 2,461,791,092
Net income considered for computing EPS (` in Million) 80,990 81,931
Earnings per equity share
Basic 32.97 33.38
Diluted 32.91 33.28
42. As at March 31, 2016 ` 11 Million is outstanding to Micro and Small Enterprises (2015: ` 22 Million).This information has been
determined to the extent such parties have been identified on the basis of information available with the Company.
43. Details of Non-current investment
(i) Investments in unquoted equity instruments (fully paid up) of Subsidiaries [Trade]
Name of the subsidiary No. of shares Currency Face value As at March 31,
2016 2015 2016 2015
Wipro Trademarks Holding Limited 93,250 93,250 ` 10 22 22
Wipro Travel Services Limited 66,171 66,171 ` 10 1 1
Wipro Holdings (Mauritius) Limited 105,468,318 105,468,318 USD 1 4,747 4,747
Wipro LLC 180,378 180,378 USD 2,500 23,135 23,135
650 650 JPY Refer Note 1 below 10 10
Wipro Japan KK
16 16 JPY Refer Note 1 below 1,002 1,002
Wipro Shanghai Limited Refer note 2 below 9 9
Wipro Cyprus Private Limited 163,611 163,611 EUR 1 18,903 18,903
Wipro Networks Pte Limited (formerly 28,126,108 28,126,108 SGD 1 1,339 1,339
3D Networks Pte Limited)
Wipro Chengdu Limited Refer note 2 below 24 24
Wipro Airport IT Services Limited 3,700,000 3,700,000 ` 10 37 37
Wipro Overseas IT Services Pvt. Ltd. 50,000 - ` 10 -* -
Total 49,229 49,229

160 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

Note 1- As per the local laws of Japan, there is no concept of Face value of Shares.
Note 2 - As per the local laws of Peoples Republic of China, there is no concept of issuance of Share Certificate. Hence the
investment by the Company is considered as equity contribution.
* Value of investment is less than one million rupees.
(ii) Investments in unquoted preference shares (Fully paid up) of Subsidiary [Trade]

Name of the subsidiary No. of shares Currency Face value As at March 31,
2016 2015 2016 2015
Redeemable preference shares held in Wipro
Cyprus Private Limited 45,000 35,000 EUR 1 5,055 3,478
Redeemable preference shares held in Wipro
Mauritius 25,000,000 - USD 1 1,604 -
9% cumulative redeemable preference shares
held in Wipro Trademarks Holding Limited (a) 1,800 1,800 ` 10 - -
Total 6,659 3,478
(a)
Value of investment is less than one million rupees.
(iii) Investments in equity instruments Others (fully paid up)

Particulars No. of shares As at March 31,

2016 2015 2016 2015
Opera Solutions LLC 2,390,433 2,390,433 3,048 3,048
Mycity Technology Limited 44,935 44,935 45 45
Wep Peripherals Limited 306,000 306,000 6 6
Wep Solutions Limited 1,836,000 1,836,000 17 17
Drivestream India Private Limited 267,600 - 19 -
Altizon Systems Private Limited 16,018 - 98 -
Total 3,233 3,116
Total (i+ ii+ iii) 59,121 55,823
44. Details of current investments
(i) Investments in Indian money market mutual funds

Fund House Number of Units as at 31st March Balances as at 31st March

2016 2015 2016 2015
Birla Sunlife Mutual Fund 94,828,348 93,799,876 3,332 3,082
IDFC Mutual Fund 71,651,897 17,085,746 1,656 496
ICICI Prudential Mutual Fund 8,865,322 8,009,531 1,128 1,079
HDFC Mutual Fund 96,395,486 4,169,307 1,021 100
SBI Mutual Fund 420,549 227,498 1,000 500
Kotak Mutual Fund 365,854 220,013 900 600
Reliance Mutual Fund 216,708 367,877 800 710
L&T Mutual Fund 16,174,229 - 400 -
Religare Invesco Mutual Fund 15 678,676 - 1,317
Franklin Templeton Mutual Fund - 49,338,857 - 915
LIC Mutual Fund - 197,264 - 500
UTI Mutual Fund - 319,064 - 500
AXIS Mutual Fund - 255,429 - 400
Total 10,237 10,199

Wipro Limited 161

Standalone Financial Statements under India GAAP

(ii) Investments in debentures Others (Fully paid up)

Particulars No. of shares/units Currency Face value As at March 31,

2016 2015 2016 2015
Debentures in Citicorp Finance (India) Limited 7,510 7,510 ` 100,000 751 751
(iii) Investments in certificate of deposits/ commercial papers and bonds

Particulars As at March 31,

2016 2015
National Highways Authority Of India 16,004 -
LIC Housing Finance Limited 13,212 5,041
Housing Development Finance Corporation Limited 10,102 -
Kotak Mahindra Prime Limited 9,527 3,894
Mahindra & Mahindra Financial Services Limited 6,509 2,751
Tata Capital Financial Services Limited 6,478 4,450
L & T Finance Limited 6,353 3,207
L & T Infrastructure Finance Company Limited 6,220 1,398
Sundaram Finance Limited 6,063 3,794
Aditya Birla Finance Limited 6,013 2,131
Bajaj Finance Limited 6,000 4,500
Indian Government Bonds 3,411 3,275
Indian Railway Finance Corporation Limited 3,402 -
HDB Financial Services Limited 2,880 -
Kotak Mahindra Investments Limited 2,401 954
Il&Fs Financial Services Limited 1,691 2,161
IDFC Bank Limited 1,498 -
L&T Housing Finance Limited 1,200 200
Power Finance Corporation Limited 1,028 357
Allahabad Bank Cd 999 -
Andhra Bank Cd 999 -
Syndicate Bank Cd 999 -
Axis Bank Limited Cd 999 -
IDBI Bank Limited Cd 998 -
NABARD 401 -
Rural Electrification Corporation Limited 391 -
NTPC Limited 385 -
Tube Investments Of India Limited 151 151
HDFC Limited - 996
Infrastructure Leasing And Financial Serv Limited - 914
Mahindra Vehicle Manufacturers Limited - 264
Exim Bank - 250
Bharath Aluminium Co Limited - 250
Total 116,314 40,938
Total (i+ ii+ iii) 127,302 51,888

162 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

45. Related party relationships and transactions

List of subsidiaries as at March 31, 2016 are provided in the table below.

Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro LLC (formerly Wipro, USA
Inc.)
Wipro Gallagher Solutions, Inc. USA
Opus Capital Markets Consultants LLC USA
Wipro Promax Analytics Solutions LLC USA
[Formerly Promax Analytics Solutions
Americas LLC]
Infocrossing, Inc. USA
Wipro Insurance Solutions LLC USA
Wipro Data Centre and Cloud USA
Services, Inc. (formerly Macaw Merger,
Inc.)
Wipro IT Services, Inc. USA
HPH Holdings Corp. (A) USA
Wipro Overseas IT Services India
Pvt. Ltd
Wipro Japan KK Japan
Wipro Shanghai Limited China
Wipro Trademarks Holding India
Limited
Wipro Travel Services Limited India
Wipro Holdings (Mauritius) Mauritius
Limited
Wipro Holdings UK Limited U.K.
Wipro Information Technogoty Austria Austria
GmbH(A) (Formerly Wipro Holdings
Austria GmbH)
Wipro Digital Aps (A) Denmark
3D Networks (UK) Limited U.K.
Wipro Europe Limited (formerly SAIC U.K.
Europe Limited) (A)
Wipro Promax Analytics Solutions UK
(Europe) Limited (formerly Promax
Analytics Solutions (Europe) Ltd)

Wipro Limited 163

Standalone Financial Statements under India GAAP

Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Cyprus Private Limited Cyprus
Wipro Doha LLC# Qatar
Wipro Technologies S.A DE C.V Mexico
Wipro BPO Philippines LTD. Inc Philippines
Wipro Holdings Hungary Korltolt Hungary
Felelssg Trsasg
Wipro Technologies Argentina SA Argentina
Wipro Information Technology Egypt Egypt
SAE
Wipro Arabia Limited* Saudi Arabia
Wipro Poland Sp. Z.o.o Poland
Wipro IT Services Poland Sp. z o. o Poland
Wipro Technologies Australia Pty Ltd Australia
(formerly Promax Applications Group
Pty Ltd)
Wipro Corporate Technologies Ghana Ghana
Limited
Wipro Technologies South Africa South Africa
(Proprietary) Limited
Wipro Technologies Nigeria Limited Nigeria
Wipro Information Technology Netherland
Netherlands BV.
Wipro Portugal S.A.(A) Portugal
Wipro Technologies Limited, Russia Russia
Wipro Technology Chile SPA Chile
Wipro Solutions Canada Limited Canada
Wipro Information Technology Kazakhstan
Kazakhstan LLP
Wipro Technologies W.T. Sociedad Costa Rica
Anonima
Wipro Outsourcing Services (Ireland) Ireland
Limited
Wipro IT Services Ukraine LLC Ukraine
Wipro Technologies Norway AS Norway
Wipro Technologies VZ, C.A. Venezuela
Wipro Technologies Peru S.A.C Peru
Wipro Technologies SRL Romania
PT WT Indonesia Indonesia
Wipro Australia Pty Limited Australia
Wipro Promax Holdings Pty Ltd Australia
(formerly Promax Holdings Pty Ltd) (A)
Wipro (Thailand) Co Limited Thailand
Wipro Bahrain Limited WLL Bahrain
Wipro Gulf LLC Sultanate of
Oman
Rainbow Software LLC Iraq
Cellent AG Germany
Cellent Mittelstandsberatung GmbH Germany
Cellent AG Austria(A) Austria

164 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Networks Pte Limited Singapore
(formerly 3D Networks Pte
Limited)
Wipro (Dalian) Limited China
Wipro Technologies SDN BHD Malaysia
Wipro Chengdu Limited China
Wipro Airport IT Services India
Limited*
In addition to the above, the Company controls The Wipro SA Broad Based Ownership Scheme Trust and Wipro SA Broad Based
Ownership Scheme SPV (RF) (PTY) LTD incorporated in South Africa.
* All the above direct subsidiaries are 100% held by the Company except that the Company holds 66.67% of the equity securities
of Wipro Arabia Limited and 74% of the equity securities of Wipro Airport IT Services Limited.
# 51% of equity securities of Wipro Doha LLC are held by a local share holder. However, the beneficial interest in these holdings is
with the Company.
(A)
Step Subsidiary details of Wipro Information Technogoty Austria GmbH, Wipro Europe Limited, Wipro Portugal S.A, Wipro Promax
Holdings Pty Ltd, Wipro Digital Aps, Cellent AG Austria and HPH Holdings Corp. are as follows:

Subsidiaries Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Information Technogoty Austria Austria
GmbH
(Formerly Wipro Holdings Austria
GmbH)
Wipro Technologies Austria GmbH Austria
New Logic Technologies SARL France
Wipro Europe Limited U.K.
(formerly SAIC Europe Limited)
Wipro UK Limited U.K.
Wipro Portugal S.A. Portugal
Wipro Retail UK Limited U.K.
Wipro do Brasil Technologia Ltda Brazil
Wipro Technologies Gmbh Germany
Wipro Do Brasil Sistemetas De Brazil
Informatica Ltd
Wipro Promax Holdings Pty Ltd Australia
(formerly Promax Holdings Pty Ltd)
Wipro Promax IP Pty Ltd Australia
(formerly PAG IP Pty Ltd)

Wipro Limited 165

Standalone Financial Statements under India GAAP

Subsidiaries Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Digital Aps Denmark
Designit A/S Denmark
Designit Denmark
Denmark A/S
Designit Germany
MunchenGmbH
Designit Oslo Norway
A/S
Designit Sweden
Sweden AB
Designit T.L.V Israel
Ltd.
Designit Tokyo Japan
Ltd.
Denextep Spain Spain
Digital, S.L
Designit Colombia
Colombia S A S
Cellent AG Austria Austria
Frontworx Austria
Informationstechnologie AG
HPH Holdings Corp. USA
HealthPlan Holdings, Inc. USA
HealthPlan Services Insurance USA
Agency, Inc.
HealthPlan Services, Inc. USA
Harrington Health Services Inc. USA
The list of controlled trusts are:

Name of entity Nature Country of Incorporation

Wipro Equity Reward Trust Trust India
Wipro Inc Benefit Trust Trust India
The other related parties are:

Name of other related parties Nature

Azim Premji Foundation Entity controlled by Director
Azim Premji Foundation for Development Entity controlled by Director
Hasham Traders Entity controlled by Director
Prazim Traders Entity controlled by Director
Zash Traders Entity controlled by Director
Hasham Investment and Trading Co. Pvt. Ltd Entity controlled by Director
Azim Premji Philanthropic Initiatives Pvt. Ltd Entity controlled by Director
Azim Premji Trust Entity controlled by Director
Wipro Enterprises (P) Limited Entity controlled by Director
Wipro GE Healthcare Private Limited Entity controlled by Director

166 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

Name of other related parties Nature

Key management personnel
- Azim H. Premji Chairman and Managing Director
- Suresh C. Senapaty Chief Financial Officer and Executive Director(1)
- T. K. Kurien Executive Vice Chairman(5)
- Abidali Z. Neemuchwala Chief Executive Officer and Executive Director(2)
- Rishad Azim Premji Chief Strategy Officer and Executive Director(3)
- Jatin Pravinchandra Dalal Chief Financial Officer(4)
(1)
Up to March 31, 2015
(2)
Effective February 1, 2016
(3)
Effective May 1, 2015
(4)
Effective April 1, 2015
(5)
Mr. T. K. Kurien, who was the Chief Executive Officer and Executive Director, was appointed as the Executive Vice Chairman of
the Company, effective February 1, 2016.
The Company has the following related party transactions:

Transaction / Balances Subsidiaries / Trusts Entities controlled by Key Management

Directors Personnel@
2016 2015 2016 2015 2016 2015
Sales of services 28,416 22,117 186 115 - -
Sale of products - 2 - - - -
Purchase of services 13,719 12,536 2 1 - -
Assets purchased / capitalized - - 231 207 - -
Dividend paid 178 133 20,599 17,166 1,147 958
Commission paid 909 607 - - - -
Rent paid 38 38 22 63 6 4
Rent Income - - 36 55 - -
Dividend payable 15$ 74$ 1,717 12,016 96 670
Remuneration paid - - - - 338 189
Interest Income 4 - - - - -
Corporate guarantee commission 166 83 - - - -
Balances as at the year end
Receivables 11,853* 10,770* 135 134 - -
Payables 7,070 9,133 1,949 12,356 114 720
$
Represents dividend payable to Wipro Equity Reward Trust.
@
Including relative of key management personnel.
* Includes the following balances being in the nature of loans given to subsidiaries of the Company including interest accrued,
where applicable and inter-corporate deposits with subsidiary.
Loan amounts outstanding from subsidiaries:

Balance as at Maximum amount due

Name of the entity March 31, during the year
2016 2015 2016 2015
Wipro Cyprus Private Limited 1,607 1,848 1,848 1,864

Wipro Limited 167

Standalone Financial Statements under India GAAP

The following are the significant related party transactions during the year ended March 31, 2016 and 2015:

Year ended March 31,

2016 2015
Sale of services
Wipro Technologies South Africa (Proprietary) Limited 4,084 4,282
Wipro LLC (formerly Wipro Inc.) 15,383 9,078
Wipro Networks PTE LTD (formerly 3D Networks Pte Limited) 2,673 2,533
Purchase of services
Infocrossing Inc 3,229 4,203
Wipro do Brasil Technologia Ltda (formerly Enabler Brasil Ltd.) 1,532 1,025
Wipro Technologies Gmbh 1,507 1,582
Wipro LLC (formerly Wipro Inc.) 2,007 1,284
Asset purchased / capitalized
Wipro Enterprises (P) Limited 231 207
Dividend paid
Prazim Traders 5,435 4,529
Zash Traders 5,419 4,516
Azim Premji Trust 5,157 4,297
Hasham Traders 4,451 3,710
Commission paid
Wipro Japan KK 468 210
Wipro Technologies Gmbh 440 397
Rent paid
Wipro Holdings UK Limited 38 38
Wipro Enterprises (P) Limited 15 63
Rental Income
Wipro Enterprises (P) Limited 35 55
Dividend payable
Prazim Traders 453 3,170
Zash Traders 452 3,161
Azim Premji Trust 430 3,008
Hasham Traders 371 2,597
Remuneration paid to key management personnel
Azim H. Premji 22 48
Suresh C. Senapaty - 34
Jatin Pravinchandra Dalal 38 -
Abidali Z. Neemuchwala* 120 -
Rishad Azim Premji 22 16
T. K. Kurien 137 91
Corporate guarantee commission
Infocrossing Inc 43 43
Wipro LLC (formerly Wipro Inc.) 38 20
Wipro Gulf LLC 35 17
Wipro Arabia Limited 15 14
Wipro Solutions Canada Ltd 38 9
Wipro IT Services Inc. 23 -
* Mr. Abidali Z. Neemuchwala, was appointed as the Chief Executive Officer and Executive Director, effective February 1,
2016. Compensation shared above is for the period from April 1, 2015 to March 31, 2016.

168 Annual Report 2015-16

 Standalone Financial Statements under India GAAP

46. Income Tax deduction for the first 5 years, 50% deduction for the next
5 years and 50% deduction for another 5 years subject to
The provision for taxation includes tax liability in India fulfilling certain conditions.
on the Companys worldwide income. The tax has been
computed on the worldwide income as reduced by the The Company was calculating its tax liability after
various deductions and exemptions provided by the considering the provisions of law relating to Minimum
Income tax Act in India (Act) and the tax credit in India for Alternate Tax (MAT) upto March 2015. As per the Act, any
the tax liabilities payable in foreign countries excess of MAT paid over the normal tax payable can be
carried forward and set off against the future tax liabilities.
Most of the Companys operations are through units in Accordingly an amount of ` 1,490 is included under Long
Special Economic Zone and Software Technology Parks term loans and advances in the balance sheet as at March
(STPs). Income from STPs is not eligible for deduction 31, 2016 (March 31, 2015:` 1,838)
from April 01, 2011. Income from SEZs are eligible for 100%

i) Tax expenses provision includes reversal of tax provision in respect of earlier periods no longer required amounting to
` 1,371 for the year ended March 31, 2016 (2015: ` 952).
ii) The components of the deferred tax (net) are as follows:

As at March 31,
2016 2015
Deferred tax assets (DTA)
Accrued expenses and liabilities 2,864 2,249
Allowances for doubtful debts 2,353 1,698
5,217 3,947
Deferred Tax Liabilities (DTL)
Amortisation of goodwill 574 355
Deferred revenue (16) 506
Fixed assets 2,477 1,994
3,035 2,855
Net DTA/(DTL) 2,182 1,092
The Net DTA / (DTL) of ` 2,182 (2015: ` 1,092) has the following breakdown:

As at March 31,
2016 2015
Deferred tax asset 2,904 1,659
Deferred tax liabilities (722) (567)
Net DTA/(DTL) 2,182 1,092
47. The Company publishes standalone financial statements along with the consolidated financial statements in the annual report.
In accordance with Accounting Standard 17, Segment Reporting, the Company has disclosed the segment information in the
consolidated financial statements.
48. Value of imports on CIF basis
(Does not include value of imported items locally purchased)

Year ended March 31,

2016 2015
Raw materials, components and peripheral 6,272 8,513
Stores and spares 50 160
Capital goods 152 200
6,474 8,873

Wipro Limited 169

Standalone Financial Statements under India GAAP

49. Foreign currency transactions

Year ended March 31,

2016 2015
a) Expenditures
Traveling and onsite allowance 118,916 113,201
Interest 172 264
Professional fees 16,820 17,746
Subcontracting charges 26,055 19,651
Foreign taxes 4,100 4,651
Others 42,118 38,795
208,181 194,308
b) Earnings
Income from sale of services and products 404,124 366,759
Agency commission 267 269
Others 471 637
404,862 367,665
Dividend remitted in foreign currencies:
Final Dividend

Year ended March 31,

2016 2015
Net amount remitted (in ` Million) 0.18 0.13
Number of shares held by non-resident shareholders 25,656 25,656
Number of foreign shareholders 5 5
Financial year to which final dividend relates 2014-15 2013-14
Interim Dividend

Year ended March 31,

2016 2015
Net amount remitted (in ` Million) 0.13 0.13
Number of shares held by non-resident shareholders 25,656 25,656
Number of foreign shareholders 5 5
Financial year to which interim dividend relates 2015-16 2014-15
As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman & Director Director
Managing Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

170 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

Independent Auditors Report on

Consolidated Financial Statements
To the Members of Wipro Limited An audit involves performing procedures to obtain audit
Report on the Consolidated Financial Statements evidence about the amounts and the disclosures in the
consolidated financial statements. The procedures selected
We have audited the accompanying consolidated financial depend on the auditors judgment, including the assessment
statements of Wipro Limited (the Holding Company) and its of the risks of material misstatement of the consolidated
subsidiaries (collectively referred to as the Group), comprising financial statements, whether due to fraud or error. In making
of the consolidated balance sheet as at March 31, 2016, the those risk assessments, the auditor considers internal financial
consolidated statement of profit and loss and the consolidated control relevant to the Holding Companys preparation of the
cash flow statement for the year then ended, and a summary of the consolidated financial statements that give a true and fair
significant accounting policies and other explanatory information view in order to design audit procedures that are appropriate
(hereinafter referred to as the consolidated financial statements). in the circumstances. An audit also includes evaluating the
Managements Responsibility for the Consolidated Financial appropriateness of the accounting policies used and the
Statements reasonableness of the accounting estimates made by the
The Holding Companys Board of Directors is responsible for Holding Companys Board of Directors, as well as evaluating the
the preparation of these consolidated financial statements in overall presentation of the consolidated financial statements.
terms of the requirements of the Companies Act, 2013 (the We believe that the audit evidence obtained by us is sufficient
Act) that give a true and fair view of the consolidated financial and appropriate to provide a basis for our audit opinion on the
position, consolidated financial performance and consolidated consolidated financial statements.
cash flows of the Company in accordance with the accounting Opinion
principles generally accepted in India, including the Accounting
Standards specified under Section 133 of the Companies Act, In our opinion and to the best of our information and according
2013 (hereinafter referred to as the Act) read with Rule 7 of to the explanations given to us, the aforesaid consolidated
the Companies (Accounts) Rules, 2014. The respective Board of financial statements give the information required by the Act
Directors of the Companies included in the group are responsible in the manner so required and give a true and fair view in
for maintenance of adequate accounting records in accordance conformity with the accounting principles generally accepted in
with the provisions of the Act for safeguarding of the assets of India, of the consolidated state of affairs of the Group, as at March
the Group and for preventing and detecting frauds and other 31, 2016, and their consolidated profit and their consolidated
irregularities; the selection and application of appropriate cash flows for the year ended on that date.
accounting policies; making judgments and estimates that are Emphasis of matter
reasonable and prudent; and the design, implementation and Without qualifying our opinion, we draw attention to note 30 to the
maintenance of adequate internal financial controls, that were consolidated financial statements which describes the principles of
operating effectively for ensuring the accuracy and completeness Accounting Standard (AS) 30, Financial Instruments: Recognition
of the accounting records, relevant to the preparation and and Measurement, applied by the Group on certain foreign currency
presentation of the consolidated financial statements that give borrowings designated as a hedging instrument to hedge its net
a true and fair view and are free from material misstatement, investment in non-integral foreign operations. These principles of AS
whether due to fraud or error, which have been used for the 30, are yet to be notified under Section 133 of the Act, read with Rule 7
purpose of preparation of the consolidated financial statements of the Companies (Accounts) Rules, 2014. Had the Group not applied
by the Directors of the Holding Company, as aforesaid. the principles of AS 30, the profit after taxation for the year ended
Auditors Responsibility March 31, 2016 would have been lower by ` 856 million (2015: `
Our responsibility is to express an opinion on these consolidated 390 million).
financial statements based on our audit. Report on Other Legal and Regulatory Requirements
While conducting the audit, we have taken into account the 1. As required by Section 143(3) of the Act, we report, to the
provisions of the Act, the accounting and auditing standards and extent applicable, that:
matters which are required to be included in the audit report (a) We have sought and obtained all the information and
under the provisions of the Act and the Rules made thereunder. explanations which to the best of our knowledge and
We conducted our audit in accordance with the Standards belief were necessary for the purposes of our audit of
on Auditing specified under section 143(10) of the Act. Those the aforesaid consolidated financial statements.
standards require that we comply with ethical requirements (b) In our opinion, proper books of account as required
and plan and perform the audit to obtain reasonable assurance by law relating to preparation of the aforesaid
about whether the consolidated financial statements are free consolidated financial statements have been kept so
from material misstatement. far as it appears from our examination of those books.

Wipro Limited 171

Consolidated Financial Statements under India GAAP

(c) The consolidated balance sheet, the consolidated Annexure - A to the Independent Auditors Report of even
statement of profit and loss, and the consolidated date on the Consolidated Financial Statements of Wipro
cash flow statement dealt with by this Report are Limited
in agreement with the relevant books of account
maintained for the purpose of preparation of the Report on the Internal Financial Controls under Clause (i)
consolidated financial statements. of Sub-section 3 of Section 143 of the Companies Act, 2013
(d) In our opinion, the aforesaid consolidated financial (the Act)
statements comply with the Accounting Standards In conjunc tion with our audit of the consolidated
specified under Section 133 of the Act, read with Rule
financial statements of the Company as of and for the
7 of the Companies (Accounts) Rules, 2014.
year ended M arch 31, 2016, we have audited the
(e) On the basis of the written representations received internal financial controls over financial reporting of
from the directors of the Holding Company as on Wipro Limited (the Holding Company) and its subsidiary
March 31, 2016 taken on record by the Board of
companies which are companies incorporated in India, as of
Directors of the Holding Company and the report
of the statutory auditors of its subsidiary companies that date.
incorporated in India, none of the Directors of the Managements Responsibility for Internal Financial Controls
Group companies incorporated in India is disqualified
as on March 31, 2016 from being appointed as a The respective Board of Directors of the Holding Company and
Director of that company in terms of Section 164(2) its subsidiary companies, which are companies incorporated in
of the Act. India, are responsible for establishing and maintaining internal
(f ) With respect to the adequacy of the internal financial financial controls based on the internal control over financial
controls over financial reporting of the Group and the reporting criteria established by the Company considering
operating effectiveness of such controls, refer to our the essential components of internal control stated in the
separate Report in Annexure A; and Guidance Note on Audit of Internal Financial Controls over
(g) With respect to the other matters to be included in Financial Reporting issued by the Institute of Chartered
the Auditors Report in accordance with Rule 11 of Accountants of India (ICAI). These responsibilities include the
the Companies (Audit and Auditors) Rules, 2014, in design, implementation and maintenance of adequate internal
our opinion and to the best of our information and financial controls that were operating effectively for ensuring
according to the explanations given to us: the orderly and efficient conduct of its business, including
i. The consolidated financial statements disclose adherence to companys policies, the safeguarding of its assets,
the impact of pending litigations on the the prevention and detection of frauds and errors, the accuracy
consolidated financial position of the Group. and completeness of the accounting records, and the timely
Refer Note 38 and 42 to the consolidated preparation of reliable financial information, as required under
financial statements;
the Companies Act, 2013.
ii. Provision has been made in the consolidated
financial statements, as required under the Auditors Responsibility
applicable law or accounting standards, for
Our responsibility is to express an opinion on the Companys
material foreseeable losses, if any, on long term
contracts including derivatives contracts. Refer internal financial controls over financial reporting based on
Note 30 and 31 to the consolidated financial our audit. We conducted our audit in accordance with the
statements; and Guidance Note on Audit of Internal Financial Controls over
iii. There has been no delay in transferring Financial Reporting (the Guidance Note) issued by the ICAI
amounts, required to be transferred, to the and the Standards on Auditing, issued by ICAI and deemed to
Investor Education and Protection Fund by the be prescribed under Section 143(10) of the Companies Act, 2013,
Holding Company and its subsidiary companies to the extent applicable to an audit of internal financial controls,
incorporated in India. both issued by the Institute of Chartered Accountants of India.
Those Standards and the Guidance Note require that we comply
with ethical requirements and plan and perform the audit to
for BSR & Co. LLP
Chartered Accountants obtain reasonable assurance about whether adequate internal
Firm registration No.: 101248W/ W-100022 financial controls over financial reporting was established
and maintained and if such controls operated effectively in all
Vijay Mathur material respects.
Partner
Membership No.: 046476 Our audit involves performing procedures to obtain audit
evidence about the adequacy of the internal financial
Bangalore controls system over financial reporting and their operating
June 3, 2016 effectiveness. Our audit of internal financial controls over

172 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

financial reporting included obtaining an understanding of Inherent Limitations of Internal Financial Controls Over
internal financial controls over financial reporting, assessing the Financial Reporting
risk that a material weakness exists, and testing and evaluating
Because of the inherent limitations of internal financial controls
the design and operating effectiveness of internal control
over financial reporting, including the possibility of collusion
based on the assessed risk. The procedures selected depend on
or improper management override of controls, material
the auditors judgment, including the assessment of the risks
misstatements due to error or fraud may occur and not be
of material misstatement of the financial statements, whether detected. Also, projections of any evaluation of the internal
due to fraud or error. financial controls over financial reporting to future periods
We believe that the audit evidence we have obtained is sufficient are subject to the risk that the internal financial control over
and appropriate to provide a basis for our audit opinion on financial reporting may become inadequate because of changes
the Companys internal financial controls system over financial in conditions, or that the degree of compliance with the policies
reporting. or procedures may deteriorate.

Meaning of Internal Financial Controls over Financial Opinion

Reporting In our opinion, the Holding Company and its subsidiary
A companys internal financial control over financial reporting is a companies, which are companies incorporated in India, have,
process designed to provide reasonable assurance regarding the in all material respects, an adequate internal financial controls
reliability of financial reporting and the preparation of financial system over financial reporting and such internal financial controls
statements for external purposes in accordance with generally over financial reporting were operating effectively as at March
accepted accounting principles. A companys internal financial 31, 2016, based on the internal control over financial reporting
control over financial reporting includes those policies and criteria established by the Company considering the essential
procedures that (1) pertain to the maintenance of records that, components of internal control stated in the Guidance Note on
in reasonable detail, accurately and fairly reflect the transactions Audit of Internal Financial Controls Over Financial Reporting issued
and dispositions of the assets of the company; (2) provide by the Institute of Chartered Accountants of India.
reasonable assurance that transactions are recorded as necessary
for BSR & Co. LLP
to permit preparation of financial statements in accordance with Chartered Accountants
generally accepted accounting principles, and that receipts Firm registration No.: 101248W/ W-100022
and expenditures of the company are being made only in
accordance with authorisations of management and directors Vijay Mathur
of the company; and (3) provide reasonable assurance regarding Partner
prevention or timely detection of unauthorised acquisition, use, Membership No.: 046476
or disposition of the companys assets that could have a material Bangalore
effect on the financial statements. June 3, 2016

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Consolidated Financial Statements under India GAAP

CONSOLIDATED BALANCE SHEET

(` in millions, except share and per share data, unless otherwise stated)
Notes As at March 31,
2016 2015
EQUITY AND LIABILITIES
Shareholders' funds
Share capital 3 4,941 4,937
Reserves and surplus 4 441,945 365,983
446,886 370,920
Share application money pending allotment (1) 5 - -
Minority interest 2,224 1,646
Non-current liabilities
Long term borrowings 6 17,361 12,707
Deferred tax liabilities (net) 37(ii) 644 269
Other long term liabilities 7 3,195 679
Long term provisions 8 4,632 3,067
25,832 16,722
Current liabilities
Short term borrowings 9 102,650 64,441
Trade payables* 10 68,390 58,486
Other current liabilities 11 36,129 29,494
Short term provisions 12 25,319 42,059
232,488 194,480
TOTAL EQUITY AND LIABILITIES 707,430 583,768
ASSETS
Non-current assets
Goodwill 14 100,870 58,047
Fixed assets
Tangible assets 13 58,072 49,693
Intangible assets 14 1,121 631
Capital work-in-progress 3,806 3,951
Non-current investments 15 4,422 3,404
Deferred tax assets (net) 37(ii) 2,210 834
Long term loans and advances 16 34,766 31,376
Other non-current assets 17 3,241 3,642
208,508 151,578
Current assets
Current investments 18 127,330 51,917
Inventories 19 5,391 4,849
Trade receivables 20 102,390 91,548
Cash and bank balances 21 135,039 166,190
Short term loans and advances 22 61,786 57,190
Other current assets 23 66,986 60,496
498,922 432,190
TOTAL ASSETS 707,430 583,768
Significant accounting policies 2
(1)
value is less than one million rupees
* Trade payables include amount due to micro and small enterprises ` 11 and ` 22 as of March 2016 and 2015 respectively.
The notes referred to above forms an integral part of the balance sheet
As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman & Managing Director Director
Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

174 Annual Report 2015-16

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CONSOLIDATED STATEMENT OF PROFIT AND LOSS

(` in millions, except share and per share data, unless otherwise stated)
Notes For the year ended March 31,
2016 2015
REVENUE
Revenue from operations (gross) 24 512,478 469,512
Less : Excise duty - 2
Revenue from operations (net) 512,478 469,510
Other income 25 28,487 24,497
Total Revenue 540,965 494,007
EXPENSES
Cost of materials consumed 2 34
Purchases of stock-in-trade 30,549 34,373
Changes in inventories of finished goods, work in progress and stock-in-trade 26 (606) (2,588)
Employee benefits expense 27 246,661 225,115
Finance costs 28 5,484 3,499
Depreciation, amortisation and impairment charge 13,585 11,749
Other expenses 29 130,043 109,584
Total Expenses 425,718 381,766
Profit before tax and minority interest 115,247 112,241
Tax expense
Current tax 26,136 25,070
Deferred tax (978) 31
Total tax expense 25,158 25,101
Profit after tax 90,089 87,140
Minority interest (492) (531)
Net Profit 89,597 86,609
Earnings per equity share 39
(Equity shares of par value ` 2 each)
Basic 36.47 35.28
Diluted 36.40 35.18
Significant accounting policies 2
The notes referred to above forms an integral part of the statement of profit and loss

As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman & Managing Director Director
Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

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Consolidated Financial Statements under India GAAP

CONSOLIDATED CASH FLOW STATEMENT

(` in millions, except share and per share data, unless otherwise stated)
For the year ended March 31,
2016 2015
A. Cash flows from operating activities:
Profit before tax 115,247 112,241
Adjustments:
Depreciation, amortisation and impairment charge 13,585 11,749
Amortisation of stock compensation 1,639 1,327
Exchange difference, net 2,520 3,840
Interest on borrowings 1,261 774
Dividend / interest income (20,641) (15,915)
Profit on sale of investments (2,635) (4,123)
(Gain) / Loss on sale of fixed assets, net (55) 6
Working capital changes:
Trade receivables and unbilled revenue (10,807) (8,876)
Loans and advances and other assets (215) (3,627)
Inventories (542) (2,556)
Liabilities and provisions 7,279 7,830
Net cash generated from operations 106,636 102,670
Direct taxes paid, net (26,935) (24,266)
Net cash generated from operating activities 79,701 78,404
B. Cash flows from investing activities:
Acquisition of fixed assets including capital advances (14,278) (12,847)
Proceeds from sale of fixed assets 791 1,434
Purchase of investments (867,069) (551,282)
Proceeds from sale / maturity of investments 793,279 561,582
Impact of net investment hedging activities, net 266 -
Investment in inter corporate and term deposit (67,889) (39,200)
Refund of inter corporate and term deposit 36,650 13,500
Payment for deferred consideration in respect of business acquisition - (243)
Payment for acquisitions of business, net of cash acquired (39,373) (11,331)
Dividend / interest received 18,859 12,430
Net cash used in investing activities (138,764) (25,957)
C. Cash flows from financing activities:
Proceeds from exercise of employee stock options 4 5
Proceeds from sale of treasury shares - 1,000
Interest paid on borrowings (1,567) (919)
Dividends paid including distribution tax (35,494) (29,490)
Repayment of loans and borrowings (136,868) (98,420)
Proceeds from loans and borrowings 172,549 119,527
Net cash used in financing activities (1,376) (8,297)
Net increase/(decrease) in cash and cash equivalents during the year (60,439) 44,150
Cash and cash equivalents at the beginning of the year 158,940 114,201
Effect of exchange rate changes on cash and cash equivalent 548 589
Cash and cash equivalents at the end of the year (refer note 21) 99,049 158,940
The notes referred to above form an integral part of the consolidated financial statements
As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman & Managing Director Director
Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

176 Annual Report 2015-16

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NOTES TO THE FINANCIAL STATEMENTS

(` in millions, except share and per share data, unless otherwise stated)
1. Company overview book values of all items of assets, liabilities,
Wipro Limited (Wipro or the Parent Company), together incomes and expenses after eliminating all
with its subsidiaries (collectively, the Company or the intra-group balances/transactions and resulting
Group) is a leading India based provider of IT Services, unrealized gain/loss.
including Business Process Services (BPS), globally. - The excess of the cost to the parent of its
Wipro is a public limited company incorporated and investments in a subsidiary over the parents
domiciled in India. The address of its registered office is portion of equity at the date on which investment
Wipro Limited, Doddakannelli, Sarjapur Road, Bangalore in the subsidiary is made, is recognised as
560 035, Karnataka, India. Wipro has its primary listing Goodwill. When the cost to the parent of its
with Bombay Stock Exchange and National Stock Exchange investment in a subsidiary is less than the parents
in India. The Companys American Depository Shares portion of equity of the subsidiary at the date on
representing equity shares are also listed on the New York which investment in the subsidiary is made, the
Stock Exchange. difference is treated as Capital Reserve in the
consolidated financial statements.
2. Significant accounting policies
- Minority interest in the net assets of consolidated
i. Basis of preparation of the consolidated financial subsidiaries consists of:
statements
a) the amount of equity attributable to the
The consolidated financial statements are prepared minorities at the dates on which investment
in accordance with Generally Accepted Accounting in a subsidiary is made; and
Principles in India (GAAP) under the historical
cost convention on the accrual basis, except for b) the minorities share of movements in
certain financial instruments which are measured equity since the date, the parent subsidiary
on a fair value basis. GAAP comprises mandatory relationship came into existence.
accounting standards as prescribed under Section Minority interest in share of net result for the
133 of the Companies Act, 2013 (Act) read with year is identified and adjusted against the profit
Rule 7 of the Companies (Accounts) Rules, 2014, and after tax. Excess of loss, if any, attributable to the
the relevant provisions of the Companies Act, 2013 minority over and above the minority interest
(the 2013 Act)/Companies Act, 1956 (the 1956 in the equity of the subsidiaries is absorbed by
Act), as applicable, Accounting Standards (AS)/ the Company.
guidance notes issued by the Institute of Chartered
- The consolidated financial statements are
Accountants of India (ICAI) and other generally
prepared using uniform accounting policies for
accepted accounting principles in India.
similar transactions and other events in similar
All amounts included in the consolidated financial circumstances.
statements are reported in millions of Indian rupees
iii. Use of estimates
(` in millions) except share and per share data, unless
otherwise stated. Due to rounding off, the numbers The preparation of financial statements requires
presented throughout the document may not add management to make judgments, estimates and
up precisely to the totals and percentages may not assumptions that affect the application of accounting
precisely reflect the absolute figures. policies and the reported amounts of assets and
liabilities and the disclosure of contingent liabilities
ii. Principles of consolidation
as at the date of financial statements and reported
The consolidated financial statements have been amounts of income and expenses during the year.
prepared on the following basis: Estimates and underlying assumptions are reviewed
- The consolidated financial statements include on an ongoing basis. Revision to accounting estimates
the financial statements of Wipro and all its is recognised in the year in which the estimates are
subsidiaries, which are more than 50% owned revised and in any future year affected.
or controlled. The financial statements of the iv. Fixed assets
parent company and its majority owned/
Tangible assets are stated at historical cost less
controlled subsidiaries which are drawn up to
accumulated depreciation and impairment loss, if
the same reporting date have been combined
any. Costs include expenditure directly attributable to
on a line by line basis by adding together the
the acquisition of the asset. Borrowing costs directly

Wipro Limited 177

Consolidated Financial Statements under India GAAP

attributable to the construction or production of Provision for onerous contracts is recognized when
qualifying assets are capitalized as part of the cost. the expected benefits to be derived from the contract
When parts of an item of property, plant and equipment are lower than the unavoidable cost of meeting the
have different useful lives, they are accounted for as future obligations under the contract.
separate items (major components) of property, plant viii. Revenue recognition
and equipment. Subsequent expenditure relating The Company derives revenue primarily from software
to property, plant and equipment is capitalized only development, maintenance of software/hardware
when it is probable that future economic benefits and related services, business process services, sale
associated with these will flow to the Company and of IT and other products.
the cost of the item can be measured reliably.
a) Services
Intangible assets are stated at the consideration paid
for acquisition less accumulated amortisation and The Company recognizes revenue when the
impairment loss, if any. significant terms of the arrangement are
enforceable, services have been delivered and
Cost of fixed assets not ready for use before the collectability is reasonably assured. The method
balance sheet date is disclosed as capital work-in- for recognizing revenues and costs depends on
progress. Advances paid towards the acquisition of the nature of the services rendered:
fixed assets outstanding as of each balance sheet date
is disclosed under long term loans and advances. A. Time and materials contracts
v. Investments Revenues and costs relating to time and
materials contracts are recognized as the related
Non-current investments are stated at cost less other services are rendered.
than temporary diminution in the value of such
investments, if any. Current investments are valued at B. Fixed-price contracts
lower of cost and fair value determined by category of Revenues from fixed-price contracts, including
investment. The fair value is determined using quoted systems development and integration contracts
market price/market observable information adjusted are recognized using the percentage-of-
for cost of disposal. On disposal of the investment, completion method. Percentage of completion
the difference between its carrying amount and is determined based on project costs incurred
net disposal proceeds is charged or credited to the to date as a percentage of total estimated
statement of profit and loss. project costs required to complete the project.
vi. Inventories The cost expended (or input) method has been
used to measure progress towards completion
Inventories are valued at the lower of cost and net as there is a direct relationship between input
realizable value, including necessary provision for and productivity. If the Company does not
obsolescence. Cost is determined using the weighted have a sufficient basis to measure the progress
average method. Cost of work-in-progress and of completion or to estimate the total contract
finished goods include material cost and appropriate revenues and costs, revenue is recognized only
share of manufacturing overheads. Cost of inventories to the extent of contract cost incurred for which
comprises all costs of purchase and other costs recoverability is probable. When total cost
incurred in bringing the inventories to their present estimates exceed revenues in an arrangement,
location and condition. the estimated losses are recognized in the
vii. Provisions and contingent liabilities statement of profit and loss in the period in
Provisions are recognised when the Company has which such losses become probable based on
a present obligation as a result of past events, it is the current contract estimates.
probable that an outflow of resources will be required Unbilled revenues included in other current assets
to settle the obligation, and a reliable estimate can represent cost and earnings in excess of billings
be made of the amount of the obligation. as at the end of the reporting period. Unearned
A disclosure for a contingent liability is made when revenues included in other current liabilities
there is a possible obligation or a present obligation represent billing in excess of revenue recognized.
that may, but probably will not, require an outflow of Advance payments received from customers
resources. Where there is a possible obligation or a for which no services have been rendered are
present obligation in respect of which the likelihood presented as Advance from customers.
of outflow of resources is remote, no provision or C. Maintenance contracts
disclosure is made. Revenue from maintenance contracts is

178 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

recognized ratably over the period of the Dividend income is recognized when the Companys
contract using the percentage of completion right to receive dividend is established.
method. When services are performed through ix. Leases
an indefinite number of repetitive acts over a
specified period of time, revenue is recognized a) Arrangements where the Company is the lessee
on a straight-line basis over the specified period Leases of assets, where the Company assumes
unless some other method better represents the substantially all the risks and rewards of
stage of completion. ownership are classified as finance leases.
In certain projects, a fixed quantum of service or Finance leases are capitalized at the lower of the
output units is agreed at a fixed price for a fixed fair value of the leased assets at inception and
term. In such contracts, revenue is recognized the present value of minimum lease payments.
with respect to the actual output achieved till Lease payments are apportioned between the
date as a percentage of total contractual output. finance charge and the outstanding liability. The
Any residual service unutilized by the customer is finance charge is allocated to periods during the
recognized as revenue on completion of the term. lease term at a constant periodic rate of interest
on the remaining balance of the liability.
D. Others
Leases where the lessor retains substantially all
The Company accounts for volume discounts the risks and rewards of ownership are classified
and pricing incentives to customers by as operating leases. Lease rentals in respect of
reducing the amount of revenue recognized assets taken under operating leases are charged
at the time of sale. to profit and loss account on a straight line basis
Revenues are shown net of sales tax, value over the lease term.
added tax, service tax and applicable
b) Arrangements where the Company is the lessor
discounts and allowances. Revenue includes
excise duty. In cer tain arrangements, the Company
The Company accrues the estimated cost of recognizes revenue from the sale of products
warranties at the time when the revenue is given under finance leases. The Company
recognized. The accruals are based on the records gross finance receivables, unearned
Companys historical experience of material interest income and the estimated residual value
usage and service delivery costs. of the leased equipment on consummation
of such leases. Unearned interest income
Costs that relate directly to a contract represents the excess of the gross finance lease
and incurred in securing a contract are receivable plus the estimated residual value
recognized as an asset and amortized over over the sales price of the equipment. The
the contract term. Company recognizes unearned interest income
Contract expenses are recognised as as financing revenue over the lease term using
expenses by reference to the stage of the effective interest method.
completion of contract activity at the end
x. Foreign currency transactions
of the reporting period.
Transaction:
b) Products:
The Company is exposed to currency fluctuations
Revenue from products are recognized when the
on foreign currency transactions. Foreign currency
significant risks and rewards of ownership have been
transactions are accounted at the exchange rates
transferred to the buyer, continuing managerial
prevailing on the date of transaction.
involvement usually associated with ownership and
effective control have ceased, the amount of revenue Translation:
can be measured reliably, it is probable that economic Monetary foreign currency assets and liabilities
benefits associated with the transaction will flow to at period-end are translated at the exchange rate
the Company and the costs incurred or to be incurred prevailing at the date of Balance Sheet. The difference
in respect of the transaction can be measured reliably. arising from the translation is recognised in the
c) Other income: statement of profit and loss, except for the exchange
difference arising on monetary items that qualify as
Agency commission is accrued when shipment of
hedging instruments in a cash flow hedge or hedge of
consignment is dispatched by the principal.
a net investment in a non-integral foreign operation.
Interest is recognized using the time-proportion In such cases the exchange difference is initially
method, based on rates implicit in the transaction. recognised in hedging reserve or Foreign Currency

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Consolidated Financial Statements under India GAAP

Translation Reserve (FCTR), respectively. Such risk management policies including the use of
exchange differences are subsequently recognised derivatives. The Company enters into derivative
in the statement of profit and loss on occurrence of financial instruments, where the counterparty is
the underlying hedged transaction or on disposal of primarily a bank.
the investment, respectively. Further, foreign currency
Premium or discount on foreign exchange forward
differences arising from translation of intercompany
contracts entered into hedge foreign currency risk
receivables or payables relating to foreign operations,
of an existing asset/liability is recognised in the
the settlement of which is neither planned nor likely
statement of profit and loss over the period of the
in the foreseeable future, are considered to form
contract. Exchange differences on such contracts are
part of net investment in foreign operation and are
recognised in the statement of profit and loss of the
recognized in FCTR. When a foreign operation is
reporting period in which the exchange rates change.
disposed of, the relevant amount recognized in FCTR
is transferred to the statement of profit and loss as The Company has adopted the principles of
part of the profit or loss on disposal. Accounting Standard 30, Financial Instruments:
Recognition and Measurement (AS 30) issued by
Integral operations:
the ICAI to the extent the adoption of AS 30 does
Monetary assets and liabilities are translated at the not conflict with existing accounting standards
exchange rate prevailing at the date of the balance prescribed by Companies (Accounts) Rules, 2014 and
sheet. Non-monetary items are translated at the other authoritative pronouncements.
historical rate. The items in the statement of profit and
In accordance with the recognition and measurement
loss are translated at the average exchange rate during
principles set out in AS 30, changes in fair value of
the period. The differences arising out of the translation
derivative financial instruments designated as cash
are recognised in the statement of profit and loss.
flow hedges are recognised directly in Reserves
Non-integral operations: and Surplus and reclassified into the statement of
Assets and liabilities are translated at the exchange profit and loss upon the occurrence of the hedged
rate prevailing at the date of the balance sheet. The transaction.
items in the statement of profit and loss are translated The Company designates derivative financial
at the average exchange rate during the period. instruments as hedges of net investments in foreign
The differences arising out of the translation are operations. Changes in the fair value of the derivative
transferred to foreign currency translation reserve. hedging instruments and gains/losses on translation
On the disposal of a non-integral foreign operation, or settlement of foreign currency denominated
the cumulative FCTR which relates to that operation borrowings designated as a hedge of net investment
is recognized in the statement of profit and loss. in foreign operations are recognized in Reserves and
The amended AS 11 provides an irrevocable option to Surplus to the extent that the hedge is effective. To
the Company to amortise exchange rate fluctuation the extent that the hedge is ineffective, changes in
on long term foreign currency monetary asset/liability fair value are recognized in the statement of profit
over the life of the asset/liability or March 31, 2020, and loss.
whichever is earlier. The amendment is applicable Changes in fair value relating to the ineffective portion
retroactively from the financial year beginning on or of the hedges and derivatives that do not qualify for
after December 7, 2006. hedge accounting are recognised in the statement
The Company did not elect to exercise the option. of profit and loss.

xi. Financial instruments The fair value of derivative financial instruments

is determined based on observable market inputs
Financial instruments are recognised when the including currency spot and forward rates, yield
Company becomes a party to the contractual curves, currency volatility etc.
provisions of the instrument.
xii. Depreciation and amortisation
Derivative instruments and Hedge accounting:
The Company has provided for depreciation using
The Company is exposed to foreign currency straight line method over the useful life of the assets
fluctuations on foreign currency assets, liabilities, as prescribed under part C of Schedule II of the
net investment in non-integral foreign operations Companies Act, 2013 except in the case of following
and forecasted cash flows denominated in foreign assets which are depreciated based on useful lives
currency. The Company limits the effects of foreign estimated by the Management:
exchange rate fluctuations by following established

180 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

Class of asset Estimated less than its carrying amount, the carrying amount is
Useful Life reduced to its recoverable amount. The reduction is
Building 28 40 years treated as an impairment loss and is recognised in the
Plant and machinery 5 21 years statement of profit and loss. If at the balance sheet
Office equipment 3 10 years date there is an indication that a previously assessed
impairment loss no longer exists, the recoverable
Vehicles 4 5 years
amount is reassessed and the asset is reflected at
Furniture and fixtures 3 10 years
the recoverable amount subject to a maximum of
Electrical installations (included depreciated historical cost. In respect of goodwill,
under plant and machinery) 2 7 years the impairment loss will be reversed only when it was
Computer equipment and caused by specific external events of an exceptional
software (included under plant nature that is not expected to recur and their effects
and machinery) 2 7 years
have been reversed by subsequent external events.
For the class of assets, based on technical assessment,
management believes that the useful lives as given xiv. Employee benefits
above best represents the period over which assets Provident fund:
are expected to be used. Employees receive benefits from a provident fund,
Freehold land is not depreciated. a defined benefit plan. The employee and employer
Assets under finance lease are amortised over their each make periodic contributions to the plan. A
estimated useful life or the lease term, whichever is portion of the contribution is made to the approved
lower. provident fund trust managed by the Company,
while the remainder of the contribution is made to
Payments for leasehold land are amortised over the the government administered pension fund. The
period of lease. contributions to the trust managed by the Company
The estimated useful lives of the amortizable is accounted for as a defined benefit plan as the
intangible assets for the current and comparative Company is generally liable for any shortfall in the
periods are as follows: fund assets based on the government specified
minimum rate of return.
Class of asset Estimated
Compensated absences:
Useful Life
Customer-contract intangibles 5-10 years The employees of the Company are entitled to
Technical know-how, patents, compensated absences. The employees can carry
trademarks and others 3-10 years forward a portion of the unutilized accumulating
compensated absences and utilize it in future
xiii. Impairment of assets
periods or receive cash at retirement or termination
Financial assets: of employment. The Company records an obligation
The Company assesses at each period end whether for compensated absences in the period in which
there is any objective evidence that a financial asset the employee renders the services that increases this
or group of financial assets is impaired. If any such entitlement. The Company measures the expected
indication exists, the Company estimates the amount cost of compensated absences as the additional
of impairment loss. The amount of loss for receivables amount that the Company expects to pay as a result of
is measured as the difference between the assets the unused entitlement that has accumulated at the
carrying amount and undiscounted amount of future end of the reporting period. The Company recognizes
cash flows. Impairment loss, if any, is recognised in the accumulated compensated absences based on
statement of profit and loss. If at the balance sheet actuarial valuation using the projected unit credit
date there is any indication that a previously assessed method. Non-accumulating compensated absences
impairment loss no longer exists, the recognised are recognized in the period in which the absences
impairment loss is reversed, subject to maximum of occur. The Company recognizes actuarial gains and
initial carrying amount of the short-term receivable. losses immediately in the statement of profit and loss.

Other than financial assets: Gratuity:

The Company assesses at each period end whether In accordance with the Payment of Gratuity Act, 1972
there is any indication that a non-financial asset applicable to Indian Companies, the Company provides
including goodwill may be impaired. If any such for a lump sum payment to eligible employees, at
indication exists, the Company estimates the retirement or termination of employment based on
recoverable amount of the asset. If such recoverable the last drawn salary and years of employment with
amount of the asset or the recoverable amount of the the Company. The gratuity fund is managed by the Life
cash generating unit to which the asset belongs to is Insurance Corporation of India (LIC), HDFC Standard

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Consolidated Financial Statements under India GAAP

Life, TATA AIG life and Birla Sun-life. The Companys Deferred taxes are recognised in respect of timing
obligation in respect of the gratuity plan, which is a differences which originate during the tax holiday
defined benefit plan, is provided for based on actuarial period but reverse after the tax holiday period. For this
valuation carried out by an independent actuary purpose, reversal of timing difference is determined
using the projected unit credit method. The Company using first in first out method.
recognizes actuarial gains and losses immediately in Deferred tax assets and liabilities are measured using
the statement of profit and loss. the tax rates and tax laws that have been enacted or
Superannuation: substantively enacted by the balance sheet date. The
effect on deferred tax assets and liabilities of a change
Superannuation plan, a defined contribution scheme, in tax rates is recognised in the period that includes
is administered by the LIC and ICICI Prudential Life the enactment/substantive enactment date.
Insurance Company Limited. The Company makes
Deferred tax assets on timing differences are
annual contributions based on a specified percentage
recognised only if there is a reasonable certainty
of each eligible employees salary.
that sufficient future taxable income will be available
Termination benefits: against which such deferred tax assets can be realized.
Termination benefits are expensed when the However, deferred tax assets on the timing differences
when unabsorbed depreciation and losses carried
Company can no longer withdraw the offer of those
forward exist, are recognised only to the extent that
benefits.
there is virtual certainty that sufficient future taxable
Short-term benefits: income will be available against which such deferred
tax assets can be realized.
Short-term employee benefit obligations are measured
on an undiscounted basis and are recorded as Deferred tax assets are reassessed for the
expense as the related service is provided. A liability appropriateness of their respective carrying amounts
is recognized for the amount expected to be paid at each balance sheet date.
under short-term cash bonus or profit-sharing plans, The Company offsets, on a year on year basis, its current
if the Company has a present legal obligation to pay and non-current tax assets and liabilities, where it has a
this amount as a result of past service provided by the legally enforceable right and where it intends to settle
employee and the obligation can be estimated reliably. such assets and liabilities on a net basis.
xv. Employee stock options xvii. Earnings per share
The Company determines the compensation Basic:
cost based on the intrinsic value method. The The number of equity shares used in computing basic
compensation cost is amortised on a straight line earnings per share is the weighted average number of
basis over the vesting period. shares outstanding during the year excluding equity
xvi. Taxes shares held by controlled trust.
Diluted:
Income tax:
The number of equity shares used in computing
The current charge for income taxes is calculated diluted earnings per share comprises the weighted
in accordance with the relevant tax regulations. Tax average number of equity shares considered for
liability for domestic taxes was computed under deriving basic earnings per share, and also the
Minimum Alternate Tax (MAT). MAT credit are being weighted average number of equity shares that could
recognized if there is convincing evidence that the have been issued on the conversion of all dilutive
Company will pay normal tax after the tax holiday potential equity shares.
period and the resultant asset can be measured
reliably. The excess tax paid under MAT provisions Dilutive potential equity shares are deemed converted
being over and above regular tax liability can be as of the proportionate during the period, unless
carried forward for a period of ten years from the year issued at a later date. The number of equity shares
of recognition and is available for set off against future and potentially dilutive equity shares are adjusted
for any stock splits and bonus shares issued.
tax liabilities computed under regular tax provisions,
to the extent of MAT liability. xviii. Cash flow statement
Deferred tax: Cash flows are reported using the indirect method,
whereby net profits before tax is adjusted for the
Deferred tax assets and liabilities are recognised for effects of transactions of a non-cash nature and any
the future tax consequences attributable to timing deferrals or accruals of past or future cash receipts
differences that result between the profit offered or payments. The cash flows from regular revenue
for income taxes and the profit as per the financial generating, investing and financing activities of the
statements of each entity in the group. Company are segregated.

182 Annual Report 2015-16

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3. Share capital

As at March 31,
2016 2015
Authorised Capital
2,917,500,000 (2015: 2,917,500,000) equity shares [Par value of ` 2 per share] 5,835 5,835
25,000,000 (2015: 25,000,000) 10.25 % redeemable cumulative preference shares 250 250
[Par value of ` 10 per share]
1,50,000 (2015 :1,50,000) 10% Optionally convertible cumulative prefence shares 15 15
[Par value of ` 100 per share]
6,100 6,100
Issued, subscribed and fully paid-up capital
2,470,713,290 (2015: 2,469,043,038) equity shares of ` 2 each 4,941 4,937
4,941 4,937
Terms/Rights attached to equity shares
The Company has only one class of equity shares having a par value of ` 2 per share. Each share holder of equity shares is entitled
to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors
is subject to shareholders approval in the ensuing Annual General Meeting.
Following is the summary of per share dividends recognised as distributions to equity share holders:

Year ended March 31,

2016 2015
Interim dividend `5 `5
Final dividend `1 `7
In the event of liquidation of the Company, the equity share holders will be entitled to receive the remaining assets of the Company,
after distribution of all preferential amounts, if any, in proportion to the number of equity shares held by the shareholders.
i. Reconciliation of number of shares

As at March 31, 2016 As at March 31, 2015

No. of Shares ` million No. of shares ` million
Opening number of equity shares/American Depository Receipts 2,469,043,038 4,937 2,466,317,273 4,932
(ADRs) outstanding
Equity shares issued pursuance to Employee Stock Option Plan 1,670,252 4 2,725,765 5
Number of equity shares/ADRs outstanding 2,470,713,290 4,941 2,469,043,038 4,937
Less: Equity shares issued to controlled trust* - -
Closing number of equity shares/ADRs outstanding 2,470,713,290 4,941 2,469,043,038 4,937
* During the year ended March 31, 2015, Wipro Inc. trust sold 1,810,388 shares of Wipro Limited.
ii. Details of shareholders holding more than 5% of the total equity shares of the Company

Sl. As at March 31, 2016 As at March 31, 2015

No. Name of the Shareholder No of shares % held No of shares % held
1 Mr. Azim Hasham Premji Partner representing Hasham Traders 370,956,000 15.01 370,956,000 15.02
2 Mr. Azim Hasham Premji Partner representing Prazim Traders 452,906,791 18.33 452,906,791 18.34
3 Mr. Azim Hasham Premji Partner representing Zash Traders 451,619,790 18.28 451,619,790 18.29
4 Azim Premji Trust 429,714,120 17.39 429,714,120 17.40

Wipro Limited 183

Consolidated Financial Statements under India GAAP

iii. Other details of Equity Shares for a period of five years immediately preceding March 31, 2016

As at March 31,
2016 2015
Aggregate number of share allotted as fully paid up pursuant to contract(s) without payment
being received in cash 195,717 841,585
(Allotted to the Wipro Inc Trust, the sole beneficiary of which is Wipro Inc., a wholly owned
subsidiary of the Company, in consideration of acquisition of inter-company investments)
Aggregate number of shares allotted as fully paid bonus shares - 979,119,256
Aggregate number of shares bought back* - -
* On April 20, 2016, the Board of Directors approved a buyback proposal for purchase by the Company of up to 40 million shares
of ` 2 each (representing 1.62% of total equity capital) from the shareholders of the Company on a proportionate basis by way
of a tender offer at a price of ` 625 per equity share for an aggregate amount not exceeding ` 25,000 million in accordance with
the provisions of the Companies Act, 2013 and the SEBI (Buy Back of Securities) Regulations, 1998.
iv. Shares reserved for issue under option
For details of shares reserved for issue under the employee stock option plan of the Company, refer note 36.
4. Reserves and surplus

As at March 31,
2016 2015
Capital reserve
Balance brought forward from previous year 1,139 1,139
1,139 1,139
Securities premium account
Balance brought forward from previous year 14,100 12,733
Add: Exercise of stock options by employees 612 909
Add: Sale of treasury shares gain - 458
14,712 14,100
Foreign currency translation reserve [refer note 2(x)]
Balance brought forward from previous year 10,782 8,797
Adjustment on account of amalgamation (refer note 44) - 350
Movement during the year 4,386 1,635
15,168 10,782
Capital redemption reserve
Balance brought forward from previous year 14 14
14 14
Restricted stock units reserve [refer note 36] *
Employee stock options outstanding 815 3,628
Movement during the year 1,087 (2,813)
1,902 815
General reserve
Balance brought forward from previous year 145,641 147,151
Adjustment on account of amalgamation (refer note 44) - (9,735)
Amortisation in respect of share based compensation to Wipro Enterprise Private Limited - 104
Amount transferred from surplus balance in the statement of profit and loss - 8,121
[Refer note (a) below]
145,641 145,641
Special economic zone re-investment reserve(1)
Transferred from surplus 1,342 -
Less: Transferred to surplus on utilization (1,342) -
- -

184 Annual Report 2015-16

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As at March 31,
2016 2015
Hedging reserve [refer note 30 and 2(xi)]
Balance brought forward from previous year 4,268 567
Deferred cancellation (loss)/gain (3) 101
Changes in fair value of effective portion of derivatives 1,079 6,469
Net (gain)/loss reclassified to statement of income on occurrence of hedged Transactions (2,977) (2,869)
Gain/(loss) on cash flow hedging derivatives, net 2,367 4,268

Surplus from statement of profit and loss

Balance brought forward from previous year 189,224 146,187
Add: Profit for the year 89,597 86,609
Less: Transferred to Special economic zone re-investment reserve 1,342 -
Less: Appropriations
- Interim dividend (refer note 3) 12,278 12,276
- Proposed dividend (refer note 3) 2,456 17,179
- Tax on dividend 3,085 5,924
- Amount transferred to general reserve - 8,193
Add: Transferred from Special economic zone re-investment reserve on utilization 1,342 -
Closing balance 261,002 189,224
441,945 365,983
* Restricted stock units reserve includes Deferred Employee Compensation, which represents future charge to the statement of
profit and loss and employee stock options outstanding to be treated as securities premium at the time of allotment of shares.
(1)
The Special Economic Zone Re-Investment Reserve has been created out of profit of eligible SEZ units in the term of provision
of section 10AA(1)(ii) of the Incometax Act, 1961.The reserve should be utilized by the Company for acquiring new plant and
machinery in SEZ units in the terms of the section 10AA of the Income tax Act, 1961.
(a) Additions to General Reserve include:
Year ended March 31,
2016 2015
Transfer from statement of profit and loss 8,193
Others (72)
8,121
5. Share application money pending allotment
Share application money pending allotment represents monies received against shares to be issued under the employee
stock option plan formulated by the Company as at the year end. Securities premium on account of shares pending allotment
amounts to ` 2 and ` 3 as at March 31, 2016 and 2015, respectively included in the Restricted stock units reserve. The
Company has sufficient authorized equity share capital to cover the share capital amount arising from allotment of shares
pending allotment as at March 31, 2016 and 2015 and there are no interest accrued and due on amounts due for refund as at
March 31, 2016 and 2015.
6. Long term borrowings
As at March 31,
2016 2015
Secured:
Obligation under finance lease (a) 5,831 3,218
5,831 3,218
Unsecured:
Term loan:
External commercial borrowing (b) 9,938 9,375
Others (c) 1,592 114
11,530 9,489
17,361 12,707

Wipro Limited 185

Consolidated Financial Statements under India GAAP

(a)
Obligation under finance lease is secured by underlying fixed assets. The legal title to these items vests with lessors. These
obligations are repayable in monthly installments up to year ending March 31, 2021. The interest rate for these obligations ranges
from 0.21% to 10.61% (2015: 0.21% to 13.84%). (Refer note 34)
(b)
The Company entered into an arrangement with a consortium of banks to obtain External Commercial Borrowings (ECB) during
the year ended March 31, 2014. Pursuant to this arrangement, the Company has availed ECB of 150 million dollar repayable in
full in June 2018. The ECB carries an average interest rate of Libor+1.25% p.a. (2015: Libor + 1.25% p.a.). The ECB is an unsecured
borrowing and the Company is subject to certain customary restrictions on additional borrowings and quantum of payments
for acquisitions in a financial year.
(c)
The interest rate for these loans range from 0% to 15 % (2015: 0%).
As of March 31, 2016 and 2015, the Company has complied with all the convents under the loan arrangements.
7. Other long term liabilities

As at March 31,
2016 2015
Derivative liabilities 119 71
Deposits and other advances received 54 71
Others 3,022 537
3,195 679
8. Long term provisions

As at March 31,
2016 2015
Employee benefit obligations 4,618 3,062
Warranty provision [refer note 38] 14 5
4,632 3,067
Employee benefit obligations include provision for gratuity, other retirement benefits and compensated absences.
9. Short term borrowings

As at March 31,
2016 2015
Secured:
Cash credit(a) - 3,675
Loan repayable on demand from banks (b) - 141
- 3,816

Unsecured:
Cash credit(c) 657 227
Loan repayable on demand from banks (d) 101,993 60,398
102,650 60,625
102,650 64,441
(a)
The interest rate for this loan (2015: 1.02%). Secured by inventories, trade receivable, certain property, plant and equipment.
(b)
The interest rate for this loan (2015: 6.75%). Secured by inventories, trade receivable, certain property, plant and equipment.
(c)
The interest rate for these loan is 1%-9% (2015: 0.40%).
(d)
Rate of interest for this PCFC loan ranges from 0.24% - 0.79% (Monthly Libor + Spread) and other than PCFC loan is 0.42%-1.54%
(Monthly Libor + Spread) (2015: PCFC loan ranges from 0.27% - 0.63% and other than PCFC loan is 2.02% - 10.30%).

186 Annual Report 2015-16

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10. Trade payables

As at March 31,
2016 2015
Trade payables 37,148 32,203
Accrued expenses 31,242 26,283
68,390 58,486
11. Other current liabilities

As at March 31,
2016 2015
Current maturities of long term borrowings (a) 2,079 104
Current maturities of obligation under finance lease (a) 3,133 1,660
Unearned revenue 18,076 16,551
Statutory liabilities 3,811 3,528
Derivative liabilities 5,084 3,922
Capital creditors 1,097 706
Advances from customers 2,380 2,200
Unclaimed dividends 53 25
Interest accrued but not due on borrowings 227 458
Payable to related party 189 340
36,129 29,494
(a)
For rate of interest and other terms and conditions, refer to note 6.
12. Short term provisions

As at March 31,
2016 2015
Employee benefit obligations [refer note 35] (a) 5,494 4,802
Provision for income tax 15,248 14,731
Proposed dividend 2,456 17,179
Tax on proposed dividend 503 3,456
Warranty provision [refer note 38] 388 306
Provisions Others taxes [refer note 38] 874 1,211
Others 356 374
25,319 42,059
(a)
Employee benefit obligations include other retirement benefits and compensated absences.

Wipro Limited 187

Consolidated Financial Statements under India GAAP

13. Tangible assets

Plant and Furniture Office

Land (a) Buildings machinery(e) & fixtures equipment Vehicles Total
Cost:
As at April 1, 2014 5,684 23,917 72,508 8,302 4,137 981 115,529
Additions (c) 178 446 11,978 531 303 36 13,472
Additions due to acquisitions - 89 871 97 23 1 1,081
Translation adjustment (b) 11 51 122 (85) (36) (21) 42
Disposal/adjustments (d) - (132) (5,688) (278) (206) (151) (6,455)
As at March 31, 2015 5,873 24,371 79,791 8,567 4,221 846 123,669

As at April 1, 2015 5,873 24,371 79,791 8,567 4,221 846 123,669

Additions/adjustment (c) 205 1,799 15,424 1,329 464 62 19,283
Additions due to acquisitions 7 105 2,558 121 41 34 2,866
Translation adjustment (b) 45 209 1,780 53 26 (1) 2,112
Disposal/adjustments (d) 3 (590) (1,890) (349) (342) (351) (3,519)
As at March 31, 2016 6,133 25,894 97,663 9,721 4,410 590 144,411
Accumulated depreciation/
impairment
As at April 1, 2014 700 3,819 52,773 6,542 3,062 962 67,858
Charge for the year 135 751 9,164 1,019 410 12 11,491
Translation adjustment (b) 14 36 243 (52) (18) - 223
Disposal/adjustments (d) - (55) (5,137) (185) (70) (149) (5,596)
As at March 31, 2015 849 4,551 57,043 7,324 3,384 825 73,976

As at April 1, 2015 849 4,551 57,043 7,324 3,384 825 73,976

Charge for the year 103 857 11,302 802 292 19 13,375
Translation adjustment (b) 16 73 1,113 52 29 - 1,283
Disposal/adjustments (d) (1) (184) (1,226) (349) (198) (337) (2,295)
As at March 31, 2016 967 5,297 68,232 7,829 3,507 507 86,339

Net Block
As at March 31, 2015 5,024 19,820 22,748 1,243 837 21 49,693
As at March 31, 2016 5,166 20,597 29,431 1,892 903 83 58,072
a)
Includes Gross block of ` 2,440 (2015 : ` 2,232) and Accumulated amortisation of ` 967 (2015 : ` 849) being leasehold land.
b)
Represents translation of tangible assets of non-integral operations into Indian Rupee.
c)
Interest capitalized during the year ended March 31, 2016, aggregated to ` 73 (2015: ` 105).
d)
Includes regrouping/reclassification within the block of assets.
e)
Includes net carrying value of computer equipment and software amounting to ` 18,408 as at March 31,2016 ( March 31, 2015 ` 12,595)

188 Annual Report 2015-16

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14. Goodwill and intangible assets

The movement in goodwill balance is given below:

As at March 31,
2016 2015
Balance at the beginning of the period 58,047 58,416
Translation adjustment 3,227 1,027
Acquisition through business combinations, net 39,596 (1,397)
Balance at the end of the period 100,870 58,047

The movement in intangible assets balance is given below:

Patents,
Technical trademarks and Customer
Know-how rights Contract Total
Cost:
As at April 1, 2014 730 371 - 1,101
Additions - - 509 509
Additions due to acquisitions - - - -
Translation adjustment (a) (108) 13 (80) (175)
Disposal/adjustments (100) - - (100)
As at March 31, 2015 522 384 429 1,335

As at April 1, 2015 522 384 429 1,335

Additions - 196 - 196
Additions due to acquisitions - 418 - 418
Translation adjustment (a) 58 6 30 94
Disposal/adjustments - - - -
As at March 31, 2016 580 1,004 459 2,043

Accumulated amortisation
As at April 1, 2014 648 49 - 697
Charge for the year 19 153 32 204
Translation adjustment (a) (107) (3) (4) (114)
Disposal/adjustments (83) - - (83)
As at March 31, 2015 477 199 28 704

As at April 1, 2015 477 199 28 704

Charge for the year 10 95 43 148
Translation adjustment (a) 58 7 5 70
Disposal/adjustments - - - -
As at March 31, 2016 545 301 76 922

Net Block
As at March 31, 2015 45 185 401 631
As at March 31, 2016 35 703 383 1,121
a)
Represents translation of intangible assets of non-integral operations into Indian Rupee.
15. Non-current investments
(Valued at cost, unless stated otherwise)
As at March 31,
Unquoted 2016 2015
Investment in equity instruments [Refer note 47]. 4,422 3,404
4,422 3,404

Wipro Limited 189

Consolidated Financial Statements under India GAAP

16. Long term loans and advances

(Unsecured, considered good unless otherwise stated)

As at March 31,
2016 2015
Capital advances 2,397 1,511
Prepaid expenses 5,337 3,747
Security deposits 1,659 1,472
Other deposits 548 460
Deferred contract costs 3,807 4,445
Advance income tax, net of provision for tax 19,528 17,897
MAT credit entitlement 1,490 1,844
34,766 31,376
17. Other non-current assets

As at March 31,
2016 2015
Secured, considered good:
Finance lease receivables * 2,964 2,899
Unsecured, considered good:
Derivative assets 260 736
Interest receivable 17 7
3,241 3,642
* Finance lease receivables are secured by the underlying assets given on lease. (Refer note 33)
18. Current investments
(Valued at cost or fair value, whichever is lower)

As at March 31,
2016 2015
Quoted
Investments in Indian money market mutual funds * [Refer note 48(i)] 10,237 10,199
Investment in debentures [Refer note 48(ii)] 751 751
10,988 10,950
Unquoted
Certificate of deposits/bonds [Refer note 48(iii)] 116,314 40,939
Others 28 28
116,342 40,967
127,330 51,917
Aggregate market value of quoted investments 11,395 11,024
Aggregate book value of quoted investments (current and non-current) 10,988 10,950
Aggregate book value of unquoted investments (current and non-current) 120,764 44,371
* include mutual funds amounting to ` 109 (2015: ` Nil) pledged as margin money deposit for entering into currency future
contracts. The remaining maturity of such outstanding future contracts does not exceed 12 months from the reporting date.

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19. Inventories
(At lower of cost and net realizable value)

As at March 31,
2016 2015
Raw materials - 3
Work in progress - 2
Finished goods [including goods in transit - ` 2 (2015 : ` 8)] 8 24
Traded goods 4,512 3,888
Stores and spares 871 932
5,391 4,849
20. Trade Receivables

As at March 31,
2016 2015
Unsecured
Over six months from the date they were due for payment
Considered good 13,990 13,142
Considered doubtful 7,041 5,337
21,031 18,479
Less: Provision for doubtful receivables (7,041) (5,337)
13,990 13,142
Other receivables
Considered good 88,400 78,406
Considered doubtful 264 173
88,664 78,579
Less: Provision for doubtful receivables (264) (173)
88,400 78,406
102,390 91,548
21. Cash and bank balances
As at March 31,
2016 2015
Cash and cash equivalents
Balances with banks [refer note 49]
- In current accounts 62,836 46,073
- Unclaimed dividend 53 25
- In deposit accounts 35,531 111,743
Cheques, drafts on hand 628 1,070
Cash in hand 1 29
99,049 158,940
Other Deposits with banks 35,990 7,250
135,039 166,190
Deposit accounts with more than 3 months but less than 12 months maturity 62,490 100,657
Deposit accounts with more than 12 months maturity - -
a) Cash and cash equivalents include restricted cash balance of ` 53 (2015:` 25), primarily on account of unclaimed dividends.

Wipro Limited 191

Consolidated Financial Statements under India GAAP

22. Short term loans and advances

(Unsecured, considered good unless otherwise stated)

As at March 31,
2016 2015
Employee travel and other advances 3,780 3,488
Advance to suppliers 1,097 1,533
Balance with excise and customs 1,814 1,786
Prepaid expenses 14,012 9,119
Other deposits 442 254
Security deposits 239 2,054
Inter corporate and term deposit 33,449 31,250
Deferred contract costs 3,720 3,610
Others 3,233 4,096
Considered doubtful 798 880
62,584 58,070
Less: Provision for doubtful loans and advances (798) (880)
61,786 57,190
23. Other current assets
As at March 31,
2016 2015
Secured, considered good:
Finance lease receivables * 2,034 3,461
2,034 3,461
Unsecured, considered good:
Derivative assets 7,761 7,474
Interest receivable 8,918 7,146
Unbilled revenue 48,273 42,338
Receivable from related party - 77
64,952 57,035
66,986 60,496
*Finance lease receivables are secured by the underlying assets given on lease. (refer note 33)
24. Revenue from operations (gross)
As at March 31,
2016 2015
Sale of Products 31,109 33,550
Sale of Services 481,369 435,962
512,478 469,512
25. Other income

Year ended March 31,

2016 2015
Income from current investments
- Dividend on mutual fund units 66 224
- Profit/(loss) on sale of investment, net 2,646 3,948
Interest on bank and other deposits 20,575 15,691
Exchange rate fluctuations on foreign currency borrowings, net 137 (1)
Other exchange differences, net 3,894 3,611
Miscellaneous income 1,169 1,024
28,487 24,497

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26. Changes in inventories of finished goods, work in progress and Stock-in-trade

Year ended March 31,

2016 2015
Opening stock
Work in progress 2 16
Traded goods 3,888 1,245
Finished products 24 65
3,914 1,326
Less: Closing stock
Work in progress - 2
Traded goods 4,512 3,888
Finished products 8 24
4,520 3,914
(Increase)/Decrease (606) (2,588)
27. Employee benefits expense
Year ended March 31,
2016 2015
Salaries and wages 232,831 214,266
Contribution to provident and other funds 7,062 4,798
Share based compensation 1,639 1,327
Staff welfare expenses 5,129 4,724
246,661 225,115
28. Finance costs
Year ended March 31,
2016 2015
Interest 1,261 774
Exchange fluctuations on foreign currency borrowings, net 4,223 2,725
(to the extent regarded as borrowing cost)
5,484 3,499
29. Other expenses
Year ended March 31,
2016 20154
Sub-contracting/technical fees/third party application 67,769 52,303
Travel 23,507 21,684
Advertisement and sales promotion 2,338 1,625
Repairs to building 390 684
Repairs to machinery 36 913
Communication 5,295 5,640
Power and fuel 3,049 2,932
Legal and professional charges 4,214 3,682
Staff recruitment 996 917
Rent 5,184 4,727
Carriage and freight 52 88
Consumption of stores and spares 148 370
Insurance 1,322 1,230
Rates and taxes 1,212 1,015
Auditors remuneration
Audit fees 40 44
For certification including tax audit 1 2
Out of pocket expenses 3 3
Miscellaneous expenses 14,487 11,725
130,043 109,584

Wipro Limited 193

Consolidated Financial Statements under India GAAP

30. Adoption of AS 30 instruments in translation reserve in the reserves and

surplus.
The Company has applied the principles of AS 30, as per
announcement by ICAI, to the extent such principles of AS The following table presents the aggregate contracted
30 does not conflict with existing accounting standards as principal amounts of the Companys derivative contracts
prescribed under Sec 133 of the act read with Rule 7 of the outstanding as at:
Companies (Accounts) Rules, 2014.
(In Millions)
As permitted by AS 30, the Company has designated a USD- As at March 31,
denominated foreign currency borrowing amounting to 2016 2015
USD 150 million and a Euro-denominated foreign currency
Designated cash flow hedging
borrowing amounting to EUR 77 million as a hedging
derivative instruments
instrument to hedge its net investment in a non-integral
Sell $ 922 $ 836
foreign operation.
248 198
Accordingly, the translation gain/(loss) on the foreign AUD 139 AUD 83
currency borrowings and portion of the changes in fair
value of interest rate swap which are determined to be 278 220
effective hedge of net investment in non-integral operation SAR 19 SAR -
and cash flow hedge of foreign currency borrowings AED 7 AED -
aggregating to ` (901) for the year ended March 31, 2016 Interest Rate Swap $ 150 $ 150
[2015: ` (524)] was recognized in translation reserve/ Net investment hedges in
hedging reserve in shareholders funds. The amount of foreign operations
gain/ (loss) of ` (856) for the year ended March 31, 2016 Others $ - $ 145
[2015: ` (390)] recognized in translation reserve would be Non designated derivative
transferred to profit and loss account upon sale or disposal instruments
of the non-integral foreign operation and the amount Sell $ 1,298 $ 1,304
of gain/(loss) of ` (45) for year ended March 31, 2016 55 67
[2015: ` (134)] recognized in the hedging reserve would 87 60
be transferred to the statement of profit and loss on the JPY 490 JPY 490
occurrence of the hedged transaction. SGD 3 SGD 13
In accordance with AS 11, if the Company had continued ZAR 110 ZAR 69
to recognize translation (losses)/ gains on foreign currency CAD 11 CAD 30
borrowing in the statement of profit and loss: AUD 35 AUD 53
a. Foreign currency borrowing of USD 150 million and CHF 10 CHF 10
EUR 77 million would not have been eligible as a SAR 58 SAR -
hedge instrument for hedge accounting and changes AED 7 AED -
in the fair value of the foreign currency borrowing Buy $ 822 $ 790
would have to be recognized in the statement of
profit and loss. As a result profit after tax would have As of the balance sheet date, the Company has net foreign
been lower by ` 856 for the year ended March 31, currency exposures that are not hedged by a derivative
2016 (2015: lower by ` 390). instrument or otherwise amounting to ` 12,312 (2015:
` 18,303).
31. Derivatives
32. Sale of financial assets
As of March 31, 2016, the Company has recognised gains
of ` 2,367 [2015: ` 4,268] relating to derivative financial From time to time, in the normal course of business, the
instruments (comprising of foreign currency forward Company transfers accounts receivables, unbilled revenues,
contract, option contracts, and interest rate swap) that net investment in finance lease receivables (financials
are designated as effective cash flow hedges in the assets) to banks. Under the terms of the arrangements, the
shareholders funds. Company surrenders control over the financial assets and
the transfer is without recourse. Accordingly, such transfers
In addition to the derivative instruments discussed above in are recorded as sale of financial assets. Gains and losses on
Note 30, the Company has also designated certain foreign sale of financial assets without recourse are recorded at the
currency forward contracts to hedge its net investment time of sale based on the carrying value of the financial
in non-integral foreign operations. The Company has assets and fair value of servicing liability.
recognized gain of ` 40 for the year ended March 31, 2016
(2015: gain of ` 780) relating to the derivative financial In certain cases, transfer of financial assets may be with

194 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

recourse. Under such arrangements, the Company is Operating leases:

obligated to repurchase the uncollected financial assets, The Company leases office and residential facilities
subject to limits specified in the agreement with the banks. under cancelable and non-cancelable operating lease
These are reflected as part of loans and borrowings in the agreements that are renewable on a periodic basis at the
statement of balance sheet. option of both the lessor and the lessee. Rental payments
33. Finance lease receivables under such leases are ` 5,184 and ` 4,727 during the years
ended March 31, 2016 and 2015 respectively.
The Company provides lease financing for products
Details of contractual payments under non-cancelable
primarily through finance leases. The finance lease portfolio
leases are given below:
contains only the normal collection risk with no important
uncertainties with respect to future costs. These receivables As at March 31,
are generally due in monthly or quarterly installments over 2016 2015
periods ranging from 1 to 7 years. Not later than one year 4,246 3,351
Later than one year and not later
The components of finance lease receivables are as follows:
than five years 9,900 6,385
As at March 31, Later than five years 2,713 2,206
2016 2015 Total 16,859 11,942
Gross investment in lease 35. Employee benefit plan
Not later than one year 2,222 3,685
Gratuity: In accordance with applicable Indian laws,
Later than one year and not later the Company provides for gratuity, a defined benefit
than five years 3,127 3,108 retirement plan (Gratuity Plan) covering certain categories
Later than five years - 73 of employees. The Gratuity Plan provides a lump sum
Unguaranteed residual values 62 63 payment to vested employees, at retirement or termination
5,411 6,929 of employment, an amount based on the respective
Unearned finance income (413) (569) employees last drawn salary and the years of employment
Net investment in finance receivables 4,998 6,360 with the Company. The Company provides the gratuity
Present value of minimum lease receivables are as follows: benefit through annual contributions to a fund managed
by the Life Insurance Corporation of India (LIC), HDFC
As at March 31, Standard Life, Tata AIG Life and Birla Sun Life (Insurer).
2016 2015 Under this plan, the settlement obligation remains with
Present value of minimum lease the Company, although the Insurer administers the plan
payments receivables 4,998 6,360 and determines the contribution premium required to be
Not later than one year 2,034 3,419 paid by the Company.
Later than one year and not later
than five years 2,906 2,826 Change in the benefit obligation As at March 31,
Later than five years - 57 2016 2015
Unguaranteed residual value 58 58 Projected benefit obligation (PBO)
at the beginning of the year 4,368 3,690
34. Assets taken on lease Current service cost 909 613
Finance leases: Interest cost 357 348
Benefits paid (530) (462)
The following is a schedule of present value of minimum
Actuarial loss 980 179
lease payments under finance leases, together with the
Projected benefit obligation (PBO)
value of the future minimum lease payments as of March
at the end of the year 6,084 4,368
31, 2016 and 2015.
As at March 31, Change in plan assets As at March 31,
2016 2015 2016 2015
Present value of minimum lease Fair value of plan assets at the
payments beginning of the year 4,329 3,360
Not later than one year 3,133 1,660 Expected return on plan assets 365 261
Later than one year and not later Employer contributions 1,885 1,065
than five years 5,831 3,218 Benefits paid (530) (462)
Total present value of minimum Actuarial (loss)/gain (53) 105
lease payments 8,964 4,878 Fair value of plan assets at the end
Add: Amount representing interest 578 345 of the year 5,996 4,329
Total value of minimum lease payments 9,542 5,223 Recognized liability (88) (39)

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The Company has invested the plan assets in the insurer The weighted average actuarial assumptions used to
managed funds. The expected rate of return on plan asset determine benefit obligations and net periodic gratuity
is based on expectation of the average long term rate of cost are:
return expected on investments of the fund during the
estimated term of the obligation. Expected contribution to Assumptions As at March 31,
the fund during the year ending March 31, 2017 is ` 1,150.
2016 2015
Net gratuity cost for the year ended March 31, 2016 and
2015 are as follows: Discount rate 7.75% 7.95%
Year ended March 31, Rate of increase in 8% 8%
2016 2015 compensation levels
Current service cost 909 613 Rate of return on plan assets 7.75% 7.95%
Interest on obligation 357 348
Expected return on plan assets (365) (261)
Actuarial loss 1,033 74
Net gratuity cost 1,934 774

Details for the present value of defined obligation, fair value of assets, surplus/(deficit) of assets and experience adjustments of
current year and preceding four years are as under:
As at March 31,
2016 2015 2014 2013 2012
Experience Adjustments:
On Plan Liabilities 798 (1) (22) (58) (147)
On Plan Assets (53) 105 17 44 52
Present value of benefit obligation 6,084 4,368 3,690 3,115 2,845
Fair value of plan assets 5,996 4,329 3,360 3,096 2,866
Excess of (obligations over plan assets)/plan assets over obligations (88) (39) (330) (19) 21
The Company assesses these assumptions with its present value obligation of interest guarantee under the
projected long-term plans of growth and prevalent deterministic approach are as follows:
industry standards. The estimates of future salary increase,
Assumptions As at March 31,
considered in actuarial valuation, take account of inflation,
seniority, promotion and other relevant factors such as 2016 2015
supply and demand factors in the employment market. Discount rate 7.75% 7.95%
Provident fund (PF): In addition to the above, all employees Average remaining tenure of
receive benefits from a provident fund. The employee and investment portfolio 6 years 6 years
employer each make monthly contributions to the plan. A Guaranteed rate of return 8.75% 8.75%
portion of the contribution is made to the provident fund For the year ended March 31, 2016, the Company
trust established by the Company, while the remainder of contributed ` 4,052 (2015: ` 3,247) towards provident fund.
the contribution is made to the Government administered
pension fund. 36. Employee stock option

The interest rate payable by the trust to the beneficiaries i) Employees covered under Stock Option Plans and
is regulated by the statutory authorities. The Company has Restricted Stock Unit (RSU) Option Plans (collectively
an obligation to make good the shortfall, if any, between stock option plans) are granted an option to
the returns from its investments and the administered rate. purchase shares of the Company at the respective
exercise prices, subject to requirements of vesting
The details of fund and plan assets are given below: conditions. These options generally vest in tranches
Change in the benefit As at March 31, over a period of three to five years from the date
obligation of grant. Upon vesting, the employees can acquire
2016 2015
one equity share for every option. The maximum
Fair value of plan assets 36,019 28,455 contractual term for aforementioned stock option
Present value of defined 36,019 28,455 plans is generally 10 years.
benefit obligation
ii) The stock compensation cost is computed under the
Net (shortfall)/excess - -
intrinsic value method and amortised on a straight
The principal assumptions used in determining the line basis over the total vesting period. The intrinsic

196 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

value on the date of grant approximates the fair value. vest with employees over a specified period subject
For the year ended March 31, 2016, the Company has to fulfillment of certain conditions. Upon vesting,
recorded stock compensation expense of ` 1,639 employees are eligible to apply and secure allotment
(2015: ` 1,327). of Companys shares at a price determined on the
date of grant of options. The particulars of options
iii) The compensation committee of the board evaluates
granted under various plans are tabulated below. (The
the performance and other criteria of employees
numbers of shares in the table below are adjusted for
and approves the grant of options. These options
any stock splits and bonus shares issues).

Wipro Employee Stock Option Plans and Restricted Stock Unit Option Plans
A summary of the general terms of grants under stock option plans and restricted stock unit option plans are as follows:

Name of Plan Authorized Range of

Shares Exercise Prices
Wipro Employee Stock Option Plan 1999 (1999 Plan) 50,000,000 ` 171 490
Wipro Employee Stock Option Plan 2000 (2000 Plan) 280,303,030 ` 171 490
Stock Option Plan (2000 ADS Plan) 15,000,000 US$ 37
Wipro Restricted Stock Unit Plan (WRSUP 2004 plan) 22,424,242 ` 2
Wipro ADS Restricted Stock Unit Plan (WARSUP 2004 plan) 22,424,242 US$ 0.03
Wipro Employee Restricted Stock Unit Plan 2005 (WSRUP 2005 plan) 22,424,242 ` 2
Wipro Employee Restricted Stock Unit Plan 2007 (WSRUP 2007 plan) 18,686,869 ` 2
Wipro Equity Reward Trust Employee Stock Purchase Plan, 2013 14,829,824 ` 2
The activity in these stock option plans is summarized below:

Year ended March 31,

2016 2015
Range of Number Weighted Number Weighted
Exercise Average Average
Prices Exercise Exercise
Price Price
Outstanding at the beginning of the period(1) ` 480 489 20,181 ` 480.20 33,636 ` 480.20
` 2 6,332,219 ` 2 8,007,354 ` 2
US$ 0.03 2,576,644 US$ 0.03 2,096,492 US$ 0.03
Granted ` 480 489 ` `
` 2 2,870,400 ` 2 2,480,000 ` 2
US$ 0.03 1,697,700 US$ 0.03 1,689,500 US$ 0.03
Exercised ` 480 489 ` (13,455) `
` 2 (1,329,376 ) ` 2 (1,968,609 ) ` 2
US$ 0.03 (340,876 ) US$ 0.03 (743,701 ) US$ 0.03
Forfeited and lapsed ` 480 489 ` `
` 2 (618,917 ) ` 2 (2,186,526 ) ` 2
US$ 0.03 (186,038 ) US$ 0.03 (465,647 ) US$ 0.03
Outstanding at the end of the period ` 480 489 20,181 ` 480.20 20,181 ` 480.20
` 2 7,254,326 ` 2 6,332,219 ` 2
US$ 0.03 3,747,430 US$ 0.03 2,576,644 US$ 0.03
Exercisable at the end of the period ` 480 489 20,181 ` 480.20 - ` 480.20
` 2 1,204,405 ` 2 1,389,772 ` 2
US$ 0.03 256,753 US$ 0.03 1,80,683 US$ 0.03
(1)
During the year March 2013, an adjustment of one employee stock option for every 8.25 employee stock option held has been
made, for each eligible employee pursuant to the terms of the Demerger Scheme.

Wipro Limited 197

Consolidated Financial Statements under India GAAP

The following table summarizes information about outstanding stock options:

2016 2015
Numbers Weighted Weighted Numbers Weighted Weighted
Average Average Average Average
Remaining Exercise Remaining Exercise
Life Price Life Price
Range of Exercise price (Months) (Months)
` 480 489 20,181 __ ` 480.20 20,181 24 ` 480.20
` 2 7,254,326 23 ` 2 6,332,219 25 ` 2
US$ 0.03 3,747,430 24 US$ 0.03 2,576,644 31 US$ 0.03
The weighted-average grant-date fair value of options granted during the year ended March 31, 2016 was ` 699.96
(2015: ` 658.12) for each option. The weighted average share price of options exercised during the year ended March 31, 2016 was
` 608.62 (2015: ` 603.58) for each option.
The movement in Restricted Stock Unit reserve is summarized below:

Year ended March 31,

2016 2015
Opening balance 815 309
Less: Amount transferred to share premium (612) (909)
Add: Amortisation 1,639 1,327
Add: Amortisation in respect of share based compensation to Wipro Enterprises (P) Limited 60 88
Closing balance 1,902 815

37. Income tax ii) The components of the deferred tax assets (net) are
as follows:
The provision for taxation includes tax liability in India
on the Companys worldwide income. The tax has been As at March 31,
computed on the worldwide income as reduced by the 2016 2015
various deductions and exemptions provided by the
Deferred tax assets (DTA)
Income tax act in India (Act) and the tax credit in India for
Accrued expenses and liabilities 3,091 2,360
the tax liabilities payable in foreign countries.
Allowances for doubtful trade
Most of the Companys operations are through units in receivables 2,390 1,706
Software Technology Parks (STPs) and Special Economic Carry forward business losses 2,601 1,601
Zones (SEZs). Income from STPs is not eligible for deduction Income received in advance - 117
from 1st April, 2011. Income from SEZs are eligible for 100% 8,082 5,784
deduction for the first 5 years, 50% deduction for the next
Deferred tax liabilities (DTL)
5 years and 50% deduction for another 5 years subject to
fulfilling certain conditions. Fixed assets (4,874) (3,791)
Amortizable goodwill (1,398) (671)
The Company was calculating its tax liability after Unbilled revenue (24) (552)
considering the provisions of law relating to Minimum Others (220) (205)
Alternate Tax (MAT). As per the Act, any excess of MAT paid
(6,516) (5,219)
over the normal tax payable can be carried forward and set
Net DTA/(DTL) 1,566 565
off against the future tax liabilities. Accordingly an amount
of `1,490 (2015: ` 1,844) is included under Long term loans The Net DTA/(DTL) of ` 1,566 (2015: ` 565) has the following
and advances in the balance sheet as of March 31, 2016. breakdown:
i) Tax expenses are net of reversal of provisions recorded As at March 31,
in earlier periods, which are no longer required, 2016 2015
amounting to ` 1,337 for the year ended March 31,
Deferred tax asset 2,210 834
2016 (2015: ` 891) and MAT credit of ` NIL for the year
ended March 31, 2016 (2015: ` 2). Deferred tax liabilities (644) (269)
Net DTA/(DTL) 1,566 565

198 Annual Report 2015-16

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38. Provisions
Provision for warranty represents cost associated with providing sales support services which are accrued at the time of
recognition of revenues and are expected to be utilized over a period of 1 to 2 years from the date of balance sheet. Other
provisions primarily include provisions for tax related contingencies and litigations. The timing of cash outflows in respect of
such provision cannot be reasonably determined. The activity in provision balance is summarized below:

Year ended March 31,

2016 2015
Provision for Others taxes Provision for Others taxes
Warranty Warranty
Provision at the beginning of the year 311 1,211 346 1031
Additions during the year, net 451 83 350 187
Utilized/reversed during the year (360) (420) (385) (7)
Provision at the end of the year 402 874 311 1,211
Non-current portion 14 - 5 -
Current portion 388 874 306 1,211
39. Earnings per share
The computation of equity shares used in calculating basic and diluted earnings per share is set out below:

Year ended March 31,

2016 2015
Weighted average equity shares outstanding 2,471,389,224 2,470,776,266
Share held by controlled trusts (14,829,824) (16,094,616)
Weighted average equity shares for computing basic EPS 2,456,559,400 2,454,681,650
Dilutive impact of employee stock options 4,665,529 7,109,442
Weighted average equity shares for computing diluted EPS 2,461,224,929 2,461,791,092
Net income considered for computing EPS (` in Million) 89,597 86,609
Earnings per equity share
Basic 36.47 35.28
Diluted 36.40 35.18
40. Related party relationships and transactions
The List of subsidiaries as of March 31, 2016 is provided in the table below:

Subsidiaries Subsidiaries Country of

Incorporation
Wipro LLC (formerly Wipro, Inc.) USA
Wipro Gallagher Solutions, Inc. USA
Opus Capital Markets Consultants USA
LLC
Wipro Promax Analytics Solutions LLC USA
[Formerly Promax Analytics Solutions
Americas LLC]
Infocrossing, Inc. USA
Wipro Insurance Solutions LLC USA
Wipro Data Centre and Cloud Services, USA
Inc. (formerly Macaw Merger, Inc.)
Wipro IT Services, Inc. USA
HPH Holdings Corp. (A) USA

Wipro Limited 199

Consolidated Financial Statements under India GAAP

Subsidiaries Subsidiaries Country of

Incorporation
Wipro Overseas IT Services Pvt. Ltd India
Wipro Japan KK Japan
Wipro Shanghai Limited China
Wipro Trademarks Holding Limited India
Wipro Travel Services Limited India
Wipro Holdings (Mauritius) Limited Mauritius
Wipro Holdings UK Limited U.K.
Wipro Information Technogoty Austria
Austria GmbH(A)
(Formerly Wipro Holdings Austria
GmbH)
Wipro Digital Aps (A) Denmark
3D Networks (UK) Limited U.K.
Wipro Europe Limited (formerly SAIC U.K.
Europe Limited) (A)
Wipro Promax Analytics Solutions UK
(Europe) Limited (formerly Promax
Analytics Solutions (Europe) Ltd)
Wipro Cyprus Private Limited Cyprus
Wipro Doha LLC# Qatar
Wipro Technologies S.A DE C.V Mexico
Wipro BPO Philippines LTD. Inc Philippines
Wipro Holdings Hungary Korltolt Hungary
Felelssg Trsasg
Wipro Technologies Argentina SA Argentina
Wipro Information Technology Egypt Egypt
SAE
Wipro Arabia Limited* Saudi Arabia
Wipro Poland Sp. Z.o.o Poland
Wipro IT Services Poland Sp. z o. o Poland
Wipro Technologies Australia Pty Ltd Australia
(formerly Promax Applications Group
Pty Ltd)
Wipro Corporate Technologies Ghana Ghana
Limited

Wipro Technologies South Africa South Africa

(Proprietary) Limited
Wipro Technologies Nigeria Limited Nigeria
Wipro Information Technology Netherland
Netherlands BV.

Wipro Portugal S.A.(A) Portugal

Wipro Technologies Limited, Russia Russia
Wipro Technology Chile SPA Chile
Wipro Solutions Canada Limited Canada
Wipro Information Technology Kazakhstan
Kazakhstan LLP

200 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

Subsidiaries Subsidiaries Country of

Incorporation
Wipro Technologies W.T. Sociedad Costa Rica
Anonima
Wipro Outsourcing Services (Ireland) Ireland
Limited
Wipro IT Services Ukraine LLC Ukraine
Wipro Technologies Norway AS Norway
Wipro Technologies VZ, C.A. Venezuela
Wipro Technologies Peru S.A.C Peru
Wipro Technologies SRL Romania
PT WT Indonesia Indonesia
Wipro Australia Pty Limited Australia
Wipro Promax Holdings Pty Ltd Australia
(formerly Promax Holdings Pty
Ltd) (A)
Wipro (Thailand) Co Limited Thailand
Wipro Bahrain Limited WLL Bahrain
Wipro Gulf LLC Sultanate of
Oman
Rainbow Software LLC Iraq
Cellent AG Germany
Cellent Mittelstandsberatung GmbH Germany
Cellent AG Austria(A) Austria
Wipro Networks Pte Limited Singapore
(formerly 3D Networks Pte Limited)
Wipro (Dalian) Limited China
Wipro Technologies SDN BHD Malaysia
Wipro Chengdu Limited China
Wipro Airport IT Services Limited* India
* All the above direct subsidiaries are 100% held by the Company except that the Company holds 66.67% of the equity securities
of Wipro Arabia Limited and 74% of the equity securities of Wipro Airport IT Services Limited.
#
51% of equity securities of Wipro Doha LLC are held by a local share holder. However, the beneficial interest in these holdings is
with the Company.
The Company controls The Wipro SA Broad Based Ownership Scheme Trust and Wipro SA Broad Based Ownership Scheme SPV
(RF) (PTY) LTD incorporated in South Africa.
(A)
Step Subsidiary details of Wipro Information Technogoty Austria GmbH, Wipro Europe Limited, Wipro Portugal S.A, Wipro Promax
Holdings Pty Ltd, Wipro Digital Aps, Cellent AG Austria and HPH Holdings Corp. are as follows:

Wipro Limited 201

Consolidated Financial Statements under India GAAP

Subsidiaries Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Information Technogoty
Austria GmbH
Austria
(Formerly Wipro Holdings Austria
GmbH)
Wipro Technologies Austria
Austria GmbH
New Logic Technologies France
SARL
Wipro Europe Limited U.K.
(formerly SAIC Europe Limited)
Wipro UK Limited U.K.
Wipro Portugal S.A. Portugal
Wipro Retail UK Limited U.K.
Wipro do Brasil Brazil
Technologia Ltda
Wipro Technologies Gmbh Germany
Wipro Do Brasil Sistemetas Brazil
De Informatica Ltd
Wipro Promax Holdings Pty Ltd Australia
(formerly Promax Holdings Pty Ltd)
Wipro Promax IP Pty Ltd Australia
(formerly PAG IP Pty Ltd)
Wipro Digital Aps Denmark
Designit A/S Denmark
Designit Denmark A/S Denmark
Designit Germany
MunchenGmbH
Designit Oslo A/S Norway
Designit Sweden AB Sweden
Designit T.L.V Ltd. Israel
Designit Tokyo Ltd. Japan
Denextep Spain Digital, S.L Spain
Designit Colombia S A S Colombia
Cellent AG Austria Austria
Frontworx Informations Austria
technologie AG
HPH Holdings Corp. USA
HealthPlan Holdings, Inc. USA
HealthPlan Services USA
Insurance Agency, Inc.
HealthPlan Services, Inc. USA
Harrington Health USA
Services Inc.
The list of controlled trusts is:

Name of entity Nature Country of Incorporation

Wipro Equity Reward Trust Trust India
Wipro Inc Benefit Trust Trust India

202 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

The other related parties are:

he other related parties are:

Name of other related parties Nature

Azim Premji Foundation Entity controlled by Director
Azim Premji Foundation for Development Entity controlled by Director
Hasham Traders Entity controlled by Director
Prazim Traders Entity controlled by Director
Zash Traders Entity controlled by Director
Hasham Investment and Trading Co. Pvt. Ltd Entity controlled by Director
Azim Premji Philanthropic Initiatives Pvt. Ltd Entity controlled by Director
Azim Premji Trust Entity controlled by Director
Wipro Enterprises (P) Limited Entity controlled by Director
Wipro GE Healthcare Private Limited Entity controlled by Director
Key management personnel
- Azim H. Premji Chairman and Managing Director
- Suresh C. Senapaty Chief Financial Officer and Executive Director(1)
- T. K. Kurien Executive Vice Chairman(5)
- Abidali Z. Neemuchwala Chief Executive Officer and Executive Director(2)
- Rishad Azim Premji Chief Strategy Officer and Executive Director(3)
- Jatin Pravinchandra Dalal Chief Financial Officer(4)
(1)
Up to March 31, 2015
(2)
Effective February 1, 2016
(3)
Effective May 1, 2015
(4)
Effective April 1, 2015
(5)
Mr. T. K. Kurien, who was the Chief Executive Officer and Executive Director, was appointed as the Executive Vice Chairman of the
Company, effective February 1, 2016.
Relative of key management personnel
The Company has the following related party transactions:

Transaction/Balances Entities controlled by Key Management

Directors Personnel@
2016 2015 2016 2015
Sales of services 240 154 - -
Purchase of services 2 1 - -
Assets purchased/capitalized 231 207 - -
Dividend paid 20,599 17,166 1,147 958
Rent paid 22 63 6 4
Rent Income 36 55 - -
Dividend payable 1,717 12,016 96 670
Remuneration paid - - 338 189
Receivables 137 193 - -
Payables 1,942 12,356 114 720
@
Including relatives of key management personnel.

Wipro Limited 203

Consolidated Financial Statements under India GAAP

The following are the significant related party transactions during the year ended March 31, 2016 and 2015:

Year ended March 31,

2016 2015
Sale of services
Wipro Enterprises (P) Limited 184 111
Purchase of services
Azim Premji Foundation 2 1
Asset purchased/capitalized
Wipro Enterprises (P) Limited 231 207
Dividend paid
Hasham Traders 4,451 3,710
Prazim Traders 5,435 4,529
Zash Traders 5,419 4,516
Azim Premji Trust 5,157 4,297
Rent Paid
Wipro Enterprises (P) Limited 15 63
Yasmeen Premji 6 4
Rental Income
Wipro Enterprises (P) Limited 36 55
Dividend payable
Hasham Traders 371 2,597
Prazim Traders 453 3,170
Zash Traders 452 3,161
Azim Premji Trust 430 3,008
Remuneration paid to key management personnel
Azim H Premji 22 48
Suresh Senapaty - 34
T K Kurien 137 91
Abidali Z. Neemuchwala* 120 -
Rishad Azim Premji 22 16
Jatin Pravinchandra Dalal 38 -
* Mr. Abidali Z. Neemuchwala, was appointed as the Chief Executive Officer and Executive Director, effective February 1, 2016
Compensation shared above is for the period from April 1, 2015 to March 31, 2016.
41. Capital commitments The Companys Indian operations have been established
as units in Special Economic Zone and Software Technology
The estimated amount of contracts remaining to be executed
Park Unit under plans formulated by the Government of
on Capital account and not provided for, net of advances is
India. As per the plan, the Companys India operations
` 10,734 (2015: ` 1,262).
have export obligations to the extent of net positive
42. Contingent liabilities foreign exchange (i.e. foreign exchange inflow - foreign
exchange outflow should be positive) over a five year
As at March 31, period. The consequence of not meeting this commitment
2016 2015 in the future would be a retroactive levy of import duties
on certain hardware previously imported duty free. As at
Disputed demands for excise March 31, 2016, the Company believes that it has met all
duty, custom duty, sales tax the commitments substantially required under the plan
and other matters 2,654 2,560
Tax Demands:
Performance and financial
guarantee given by the banks The Company is subject to legal proceedings and claims
on behalf of the Company 25,218 21,235 (including tax assessment orders/ penalty notices) which
have arisen in the ordinary course of its business. Some

204 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

of the claims involve complex issues and it is not possible firm specializing in designing transformative product-
to make a reasonable estimate of the expected financial service experiences. The acquisition will strengthen the
effect, if any, that will result from ultimate resolution of Companys digital offerings, combining engineering and
such proceedings. However, the resolution of these legal transformative technology with human centered-design
proceedings is not likely to have a material and adverse methods.
effect on the results of operations or the financial position
The acquisition was executed through a share purchase
of the Company. The significant of such matters are
agreement for a consideration of ` 6,057 (EUR 86.1 million)
discussed below.
which includes a deferred earn-out component of ` 1,666
In March 2004, the Company received a tax demand for (EUR 23.7 million), which is linked to achievement of
year ended March 31, 2001 arising primarily on account of revenues and earnings over a period of 3 years ending
denial of deduction under section 10A of the Income Tax June 30, 2018. This has been disclosed as a part of other
Act, 1961 (Act) in respect of profit earned by the Companys liabilities.
undertaking in Software Technology Park at Bangalore. The
Cellent AG
same issue was repeated in the successive assessments
for the years ended March 31, 2002 to March 31, 2011 and On January 5, 2016, the Company obtained control of
the aggregate demand is 47,583 (including interest of Cellent AG (Cellent) by acquiring 100% of its share capital.
13,832). The appeals filed against the said demand before Cellent is an IT consulting and software services company
the Appellate authorities have been allowed in favor of offering IT solutions and services to customers in Germany,
the Company by the second appellate authority for the Switzerland and Austria. This acquisition is expected to
years up to March 31, 2007. Further appeals have been provide Wipro with scale and customer relationships, in
filed by the Income tax authorities before the Honble High the Manufacturing and Automotive domains in Germany,
Court. The Honble High Court has heard and disposed-off Switzerland and Austria region.
majority of the issues in favor of the Company up to years
The acquisition was executed through a share purchase
ended March 31, 2004.
agreement for a consideration of ` 5,800 (EUR 80.4 million).
On similar issues for years up to March 31, 2000, the
Healthplan Services
Honble High Court of Karnataka has upheld the claim of
the Company under section 10A of the Act. For the years On February 29, 2016, the Company obtained full
ended March 31, 2008 and March 31, 2009, the appeals are control of HPH Holdings Corp. (Healthplan Services).
pending before Income Tax Appellate Tribunal (Tribunal). HealthPlan Services offers market-leading technology
For years ended March 31, 2010 and March 31, 2011, the platforms and a fully integrated Business Process as a
Dispute Resolution Panel (DRP) allowed the claim of the Service (BPaaS) solution to Health Insurance companies
Company under section 10A of the Act. The Income tax (Payers) in the individual, group and ancillary markets.
authorities have filed an appeal before the Tribunal. HealthPlan Services provides U.S. Payers with a diversified
portfolio of health insurance products delivered through
For year ended March 31, 2012, the Company received the
its proprietary technology platform.
draft assessment order in March 2016 with a proposed
demand of 4,241 (including interest of 1,376), arising The acquisition was consummated for a consideration of `
primarily on account of section 10AA issues with respect 30,685 (USD 448.5 million) which includes a deferred earn-
to exclusion from Export Turnover. Company has filed an out component of ` 730 (USD 10.7 million), which is linked
objection before DRP within the prescribed timelines. to achievement of revenues and earnings over a period of
3 years ending March 31, 2019. This has been disclosed as
Considering the facts and nature of disallowance and the
a part of other liabilities.
order of the appellate authority/Honble High Court of
Karnataka upholding the claims of the Company for earlier 44. Amalgamation of companies
years, the Company believes that the final outcome of the
above disputes should be in favor of the Company and During the previous year, Wipro IT Services Canada Limited
there should not be any material adverse impact on the has been amalgamated with Wipro Solutions Canada
financial statements. Limited in terms of the articles of amalgamation (scheme)
dated October 3, 2014. The scheme has been accounted for
43. Acquisitions under the pooling of interest method as prescribed under
AS 14. The difference between the amounts recorded as
Designit AS
investments and the amount of share capital have been
On August 6, 2015, the Company obtained control of adjusted in the reserves in the consolidated financial
Designit AS (Designit) by acquiring 100% of its share statements of the Company.
capital. Designit is a Denmark based global strategic design

Wipro Limited 205

Consolidated Financial Statements under India GAAP

45. Segment reporting IT Products: The Company is a value added reseller

of desktops, servers, notebooks, storage products,
The Company is organized by the following operating
networking solutions and packaged software for leading
segments; IT Services and IT Products.
international brands. In certain total outsourcing contracts
IT Services: The IT Services segment primarily consists of of the IT Services segment, the Company delivers hardware,
IT Service offerings to customers organized by industry software products and other related deliverables. During FY
verticals as follows: Banking, Financial Services and 2013-14, the Company ceased the manufacturing of Wipro
Insurance (BFSI), Healthcare and Life Sciences (HLS), Retail, branded desktops, laptops and servers. Revenue relating
Consumer, Transport and Government (RCTG), Energy, to the above items is reported as revenue from the sale of
Natural Resources and Utilities (ENU), Manufacturing (MFG), IT Products.
Global Media and Telecom (GMT). It also includes Others
Assets and liabilities used in the Companys business are not
which comprises dividend income and gains or losses (net)
identified to any of the reportable segments, as these are
relating to strategic investments, which are presented
used interchangeably between segments. Management
within Finance and other income in the statement
believes that it is currently not practicable to provide
of Income. Key service offering to customers includes
segment disclosures relating to total assets and liabilities
software application development and maintenance,
since a meaningful segregation of the available data is
research and development services for hardware and
onerous.
software design, business application services, analytics,
digital, consulting, infrastructure outsourcing services and
business process services.
Information on reportable segments for year ended March 31, 2016 is given below:

IT Services IT Entity
Others
BFSI HLS RCTG ENU MFG GMT Others Total Products total
Revenue 128,147 58,358 74,372 70,866 90,877 64,696 - 487,316 29,760 (704) 516,372
Operating income of segment 28,167 12,186 13,898 14,382 17,752 12,317 - 98,702 (868) (363) 97,471
Unallocated (152) - - (152)
Operating income total 98,550 (868) (363) 97,319
Interest and other income 17,928
Profit before tax 115,247
Income tax expense (25,158)
Profit after tax 90,089
Minority interest (492)
Net profit 89,597
Information on reportable segments for year ended March 31, 2015 is given below:

IT Services IT Entity
Others
BFSI HLS RCTG ENU MFG GMT Total Products* total*
Revenue 115,505 49,884 62,209 71,229 80,303 61,050 440,180 33,975 (1,034) 473,121
Operating income of segment 26,916 10,565 13,190 17,561 17,127 13,574 98,933 339 (1,109) 98,163
Unallocated (2,462) - - (2,462)
Operating income total 96,471 339 (1,109) 95,701
Interest and other income 16,540
Profit before tax 112,241
Income tax expense (25,101)
Profit after tax 87,140
Minority interest (531)
Net profit 86,609

206 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

The Company has four geographic segments: India, c) Revenue from sale of traded cloud based licenses is
Americas, Europe and Rest of the World. Significant reported as part of IT Services revenues.
portion of the segment assets are in India. Revenue from
d) Segment results includes `1,232 for the year ended
geographical segments based on domicile of the customers
March 31, 2016, (2015: ` 849) of certain other income/
is outlined below:
(loss) which is reflected in other income in the
Year ended March 31, financial statements.
2016 2015 e) For the purpose of segment reporting, the Company
India 51,436 45,753 has included the impact of foreign exchange gains/
Americas 258,615 227,328 (losses), net of ` 3,894 for the Year ended March 31,
Europe 126,417 124,523 2016, (2015: ` 3,611) in revenues which is reported
as a part of other income in the financial statements.
Rest of the world 79,904 75,517
516,372 473,121 f) For the purpose of reporting, business segments
are considered as primary segment and geographic
Management believes that it is currently not practicable
segments are considered as secondary segments.
to provide disclosure of geographical assets and liabilities,
Segment wise capital expenditure and depreciation since 46. Corporate Social Responsibility
the meaningful segregation of the available information is
a) Gross amount required to be spent by the company
onerous.
during the year ` 1,560.
No client individually accounted for more than 10% of the
b) Amount spent during the year on:
revenues during the year ended March 31, 2016 and 2015.
a) The segment report of Wipro Limited and its Sr. Particulars In Yet to be Total
consolidated subsidiaries has been prepared in no cash paid in cash
accordance with the AS 17 Segment Reporting
(i) Construction/acquisition
issued by the Institute of Chartered Accountants of
of any asset Nil Nil Nil
India (ICAI).
(ii) On purpose other than
b) Reconciling items includes elimination of inter-
(i) above 1,134 464 1,598
segment transactions and other corporate activities.

47. Details of non-current investments

Particulars No. of shares Carrying Value

As at March 31,
2016 2015 2016 2015
Investments in Equity Instruments
Opera Solutions LLC 2,390,433 2,390,433 3,048 3,044
Drivestream Inc 94,527 94,527 292 292
Mycity Technology Limited 44,935 44,935 45 45
Wep Peripherals Limited 306,000 306,000 6 6
Wep Solutions Limited 1,836,000 1,836,000 17 17
Vectra Networks Inc 1,395,034 - 479 -
Talena Inc 4,757,373 - 128 -
Drivestream India Private Limited 267,600 - 19 -
Altizon Systems Private Limited 16,018 - 98 -
Emailage Corp. 317,027 - 68 -
TLV Partners 33 -
Total investments in equity instruments 4,231 3,404
Investments in convertible notes
Vicarious FPC, INC 191 -
Total non-current investments 4,422 3,404

Wipro Limited 207

Consolidated Financial Statements under India GAAP

48. Details of current investments

(i) Investments in Indian money market mutual funds

Fund House Balances as at March 31,

2016 2015
Birla Sun Life Mutual Fund 3,332 3,082
IDFC Mutual Fund 1,656 496
ICICI Prudential Mutual Fund 1,128 1,079
HDFC Mutual Fund 1,021 100
SBI Mutual Fund 1,000 500
Kotak Mahindra Mutual Fund 900 600
Reliance Mutual Fund 800 710
L&T Mutual Fund 400 -
Franklin Templeton Mutual Fund - 915
Religare Invesco Mutual Fund - 1,317
UTI Mutual Fund - 500
LIC Mutual Fund - 500
AXIS Mutual Fund - 400
10,237 10,199
(ii) Investments in debentures
Particulars As at March 31,
2016 2015
Debentures in Citicorp Finance (India) Limited 751 751
751 751
(iii) Investments in certificate of deposits/bonds

Particulars As at March 31,

2016 2015
National Highways Authority Of India 16,004 -
LIC Housing Finance Limited 13,212 5,041
Housing Development Finance Corp Ltd 10,102 -
Kotak Mahindra Prime Limited 9,527 3,894
Mahindra & Mahindra Financial Services Limited 6,509 2,751
Tata Capital Financial Services Limited 6,478 4,450
L&T Finance Limited 6,353 3,207
L&T Infrastructure Finance Limited 6,220 1,398
Sundaram Finance Limited 6,063 3,794
Aditya Birla Finance Limited 6,013 2,131
Bajaj Finance Limited 6,000 4,500
Government of India Bonds 3,411 3,275
Indian Railway Finance Corporation Limited 3,402 -
HDB Financial Services Limited 2,880 -
Kotak Mahindra Investments Limited 2,401 954
Infrastructure Leasing And Financial Services Limited 1,691 914
IDFC Limited 1,498 -
L&T Housing Finance Limited 1,200 200
Power Finance Corporation Limited 1,028 358

208 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

Particulars As at March 31,

2016 2015
Allahabad Bank CD 999 -
Andhra Bank CD 999 -
Syndicate Bank CD 999 -
Axis Bank Limited CD 999 -
IDBI Bank Limited CD 998 -
NABARD 401 -
Rural Electrification Corporation Limited 391 -
NTPC Limited 385 -
Tube Investments 151 151
IL&FS Financial Services Limited - 2,161
HDFC Limited - 996
Mahindra Vehicle Manufacturers Limited - 264
Exim Bank - 250
Bharath Aluminium Co Limited - 250
Total 116,314 40,939
49. Details of Cash and Bank balances
Details of balances with banks and other balances as of March 31, 2016 are as follows:

Bank Name In Current Account In Deposit Account Total

Citi Bank ` 50,940 ` 1,136 ` 52,076
ICICI Bank 3 20,178 20,181
Axis Bank 15 19,079 19,094
Canara Bank - 9,520 9,520
Kotak Mahindra Bank 108 7,796 7,904
HSBC 5,235 1,805 7,040
Yes Bank - 5,900 5,900
Corporation Bank - 2,541 2,541
WELLS FARGO BANK 2,500 - 2,500
IDFC Bank - 2,000 2,000
SAUDI BRITISH BANK 41 689 730
ANZ Bank 134 528 662
HDFC Bank 421 114 535
Standard Chartered Bank 525 - 525
Others including cash and cheques on hand 3,595 236 3,831
Total ` 63,517 ` 71,522 ` 135,039

Wipro Limited 209

Consolidated Financial Statements under India GAAP

50. Additional information pursuant to para 2 of general instructions for the preparation of consolidated financial statements

Name of the Subsidiary Net Asset Share in Profit or Loss

As a % of Amount As a % of Amount
Consolidated Consolidated
net assets profit or loss

Wipro Limited 78.9% 409,052 94.7% 80,990

Wipro Airport IT Services Limited 0.0% 93 0.0% 3

Wipro Travel Services Limited 0.0% 112 0.0% 17

Wipro Trademarks Holding Limited 0.0% 38 0.0% 1

Wipro Overseas IT Services Pvt Ltd 0.0% 21 0.0% 21

Wipro LLC (formerly Wipro Inc) 1.3% 6,745 (2.2%) (1,853)

Infocrossing Inc 0.9% 4,624 0.9% 754

Wipro Arabia Limited 1.3% 6,978 1.7% 1,468

Wipro Solutions Canada Limited (1.1%) (5,775) 1.0% 852

Wipro Technologies South Africa (Proprietary) Limited 0.0% 112 (0.1%) (87)

Wipro Networks Pte Limited (formerly 3D Networks 0.4% 1,842 0.4% 349
Pte Limited)

Opus Capital Markets Consultants LLC 0.1% 731 1.0% 824

Wipro do Brasil Technologia Ltda 0.1% 762 0.1% 44

Wipro Technologies Gmbh (0.1%) (497) 0.2% 159

Wipro Holdings Hungary Korltolt Felelssg Trsasg 6.7% 34,833 3.2% 2,720

Wipro Technologies SA DE C V 0.0% 34 0.2% 160

Wipro Gulf LLC 0.1% 370 0.4% 353

Wipro Gallagher Solutions Inc 0.3% 1,351 0.2% 171

Wipro Technologies SRL 0.1% 497 0.2% 176

Wipro Cyprus Private Limited 5.6% 29,070 0.9% 729

Wipro UK Limited 0.0% 189 (0.5%) (418)

Wipro IT Services Poland Sp z o o 0.0% 227 0.2% 152

Wipro Outsourcing Services (Ireland) Limited 0.1% 400 0.3% 223

Wipro Portugal SA 0.7% 3,852 0.2% 172

Healthplan Services, Inc (1.1%) (5,893) (0.1%) (49)

Cellent AG 0.3% 1,438 (0.0%) (41)

Wipro Holdings UK Limited 0.7% 3,854 (1.5%) (1,266)

Wipro Shanghai Limited 0.0% 246 (0.0%) (37)

210 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

Name of the Subsidiary Net Asset Share in Profit or Loss

As a % of Amount As a % of Amount
Consolidated Consolidated
net assets profit or loss

PT WT Indonesia 0.1% 262 0.4% 333

Wipro Retail UK Limited 0.0% 153 0.3% 226

Wipro Technologies Australia Pty Ltd (formerly Promax (0.1%) (542) (0.3%) (276)
Applications Group Pty Ltd)

Designit Denmark A/S 0.0% 109 (0.2%) (185)

Wipro Poland Sp Zoo 0.0% 161 0.1% 124

Wipro Information Technology Austria GmbH (Formerly 0.0% 15 (0.1%) (112)

Wipro Holdings Austria)

Wipro Bahrain Limited WLL 0.0% 242 0.2% 190

Wipro Technologies Nigeria Limited 0.0% 37 (0.0%) (0)

Wipro Japan KK 0.1% 584 0.5% 417

Wipro Chengdu Limited (0.0%) (192) (0.0%) (17)

Wipro Doha LLC 0.0% 55 0.1% 58

Wipro Technologies Austria GmbH (0.0%) (146) 0.1% 48

Designit Spain Digital SL 0.0% 107 0.0% 39

Wipro Information Technology Netherlands BV 0.5% 2,629 0.2% 194

Cellent AG Austria 0.1% 391 0.0% 23

Wipro Technologies Argentina SA 0.0% 42 0.0% 10

Designit MunchenGmbH (0.0%) (120) 0.0% 3

Designit Oslo A/S 0.0% 10 (0.0%) (5)

New Logic Technologies SARL (0.1%) (611) (0.1%) (58)

Designit TLV Ltd 0.0% 56 0.0% 19

Cellent Mittelstandsberatung GmbH 0.0% 192 0.0% 9

Designit A/S (Group Company) 0.1% 357 (0.1%) (57)

Wipro (Thailand) Co Limited 0.1% 262 (0.0%) (31)

Wipro Promax Analytics Solutions LLC (formerly Promax (0.0%) (143) (0.0%) (36)
Analytics Solutions Americas LLC)

Designit Sweden AB (0.0%) (9) (0.0%) (9)

Harrington Health Services Inc 0.3% 1,429 0.0% 20

Wipro Insurance Solutions LLC 0.0% 64 0.1% 55

Wipro Technologies Limited, Russia 0.0% 205 0.0% 25

Wipro Limited 211

Consolidated Financial Statements under India GAAP

Name of the Subsidiary Net Asset Share in Profit or Loss

As a % of Amount As a % of Amount
Consolidated Consolidated
net assets profit or loss

Designit Colombia SAS (0.0%) (8) (0.0%) (13)

Healthplan Services Insurance Agency, Inc 0.2% 1,267 0.0% 7

Wipro Technology Chile SPA (0.0%) (55) (0.1%) (65)

Wipro Technologies Peru SAC 0.0% 37 0.0% 14

Designit Tokyo Ltd (0.0%) (28) (0.0%) (16)

FRONTWORX Informationstechnologie AG 0.0% 75 (0.0%) (7)

Wipro Promax Analytics Solutions (Europe) Limited (0.0%) (40) 0.0% 10

(formerly Promax Analytics Solutions (Europe) Ltd)

Wipro Information Technology Kazakhstan LLP (0.0%) (27) (0.0%) (21)

Wipro Australia Pty Limited (0.0%) (107) 0.0% 22

Wipro Promax Holdings Pty Ltd (formerly Promax 0.0% 0 (0.0%) (27)
Holdings Pty Ltd)

Wipro BPO Philippines LTD Inc 0.3% 1,716 1.3% 1,081

Wipro Technologies SDN BHD (0.0%) (1) 0.0% 4

Wipro Technologies Norway AS 0.0% 19 (0.0%) (3)

Wipro Do Brasil Sistemetas De Informatica Ltd 0.0% 30 0.0% 2

HPH Holdings Corp 0.7% 3,520 0.0% 2

Wipro Corporate Technologies Ghana Limited (0.0%) (1) (0.0%) (1)

Healthplan Holdings, Inc 1.1% 5,447 (0.0%) (0)

Wipro Europe Limited (formerly SAIC Europe Limited)) 0.1% 400 (0.2%) (198)

3D Networks (UK) Limited 0.0% 1 0.0% -

Wipro Information Technology Egypt SAE (0.0%) (116) (0.1%) (45)

Wipro Digital Aps 0.2% 1,148 (0.2%) (130)

Wipro Holdings (Mauritius) Limited 0.7% 3,548 (3.0%) (2,603)

Wipro Promax IP Pty Ltd (formerly PAG IP Pty Ltd) 0.0% 1 0.0% 3

Wipro Data Centre and Cloud Services Inc (formerly 0.0% - 0.0% -
Macaw Merger Inc)

Wipro Technologies VZ, CA 0.0% - 0.0% -

Wipro IT Services Inc 0.2% 893 (0.1%) (59)

Subtotal 100.0% 518,620 100.0% 85,552

Minority Interest (2,224) (492)

212 Annual Report 2015-16

 Consolidated Financial Statements under India GAAP

Name of the Subsidiary Net Asset Share in Profit or Loss

As a % of Amount As a % of Amount
Consolidated Consolidated
net assets profit or loss

Controlled Trusts:

Wipro SA Broad based Ownership Scheme Trust 157 (2)

Wipro SA Broad based Ownership Scheme SPV(RF) 771 (1)

(Pty) Ltd.

Wipro Inc Benefit Trust (7) 21

Wipro Equity Reward Trust 975 218

Adjustment arising out of consolidation (71,406) 4,300

Total 446,886 89,597

(a)
Wipro Technologies W.T. Sociedad Anonima, Wipro IT Services Ukraine LLC, Wipro (Dalian) Limited and Rainbow Software LLC
are yet to commence operations.
(b)
Wipro Promax Holdings Pty Ltd, Wipro Promax IP Pty Ltd and 3D Networks (UK) Limited have been filed for liquidation
(c)
Wipro Technologies Spain S.L. has been liquidated during the current year, hence the financial information of subsidiary has not
been included in the above list.
(d)
Wipro Europe and Wipro France SAS, wholly owned subsidiary of the company have been merged with New Logic Technologies
SARL. Hence the financial information of Wipro Europe and Wipro France SAS have not been included in the above list.
(e)
Wipro Technologies Canada Limited, wholly owned subsidiary of the company, has been merged into Wipro Solutions Canada
Limited during the year. Hence the financial information of Wipro Technologies Canada Limited has not been included in the
above list.
(f )
Horizon Merger, Inc. was incorporated during the financial year 2015-16 and subsequently merged with HPH Holdings Corp.
Hence the financial information of Horizon Merger, Inc. has not been included in the above list.

As per our report of even date attached For and on behalf of the Board of Directors
for BSR & Co. LLP
Chartered Accountants Azim H Premji N Vaghul M K Sharma
Firms Registration No.: 101248W/W-100022 Chairman & Director Director
Managing Director
Vijay Mathur
Partner
Membership No.: 046476 T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan
Bangalore Executive Vice Chairman Chief Financial Officer Company Secretary
June 3, 2016

Wipro Limited 213

 Pursuant to first proviso to sub-section (3) of section 129 of Companies Act, 2013, read with rule 5 of Companies (Accounts) Rules,2014 - AOC-1, the Company

214
is presenting summarised financial information about individual subsidiaries as at March 31, 2016.
Information relating to Subsidiaries as at March 31, 2016
Sr. Name of the Subsidiary Reporting Exchange Share Reserves Total Total Investments % of Sales & Profit Provision Profit Proposed
No. Currency rate as on capital & Assets Liabilities (b) Holding Other before for after Dividend
March, 31 Surplus [excl. (4) & Income (i) taxation taxation taxation (incl.
2016 (5)] (i) (i) (i) dividend
tax)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) (14)
1 Wipro LLC (formerly Wipro Inc) USD 66 23,137 (16,493) 42,462 35,818 27,139 100% 22,317 (1,824) 28 (1,852) -
2 Infocrossing Inc USD 66 0 10,708 20,662 9,954 - 100% 17,773 754 - 754 -
3 Wipro Arabia Limited SAR 18 358 6,620 14,945 7,967 - 66.67% 13,730 1,468 - 1,468 -
4 Wipro Solutions Canada Limited CAD 51 1,778 (7,553) 6,332 12,107 - 100% 7,031 832 157 675 -
5 Wipro Technologies South Africa (Proprietary) Limited ZAR 4 0 112 1,864 1,752 6 100% 4,837 (49) 38 (87) -
6 Wipro Networks Pte Limited (formerly 3D Networks Pte Limited) USD 66 812 1,030 2,729 887 - 100% 4,473 408 (59) 349 -
7 Opus Capital Markets Consultants LLC USD 66 62 670 1,136 405 - 100% 4,158 943 119 824 -
8 Wipro do Brasil Technologia Ltda BRL 18 712 51 1,888 1,126 26 100% 3,929 312 134 178 -
9 Wipro Technologies Gmbh EUR 75 573 (1,070) 3,571 4,068 - 100% 3,413 175 16 159 -
10 Wipro Holdings Hungary Korltolt Felelssg Trsasg INR 1 1,706 33,126 34,838 5 - 100% 2,751 2,743 (22) 2,720 -
11 Wipro Technologies SA DE C V MXN 4 41 (7) 1,107 1,073 - 100% 1,802 227 67 160 -
12 Wipro Gulf LLC OMR 172 17 352 1,166 796 - 100% 1,801 403 50 353 -
Consolidated Financial Statements under India GAAP

13 Wipro Gallagher Solutions Inc USD 66 1,710 (359) 4,171 2,820 2,950 100% 1,689 219 47 172 -
14 Wipro Technologies SRL RON 17 169 328 766 270 - 97.28% 1,512 219 42 176 -
15 Wipro Portugal SA(A) EUR 75 3 3,849 4,663 811 - 100% 1,493 180 8 172 -
16 Wipro Cyprus Private Limited INR 1 13 29,057 38,700 9,630 - 100% 1,431 1,095 (366) 728 -
17 Wipro UK Limited GBP 96 51 137 2,606 2,417 - 100% 1,408 (522) (104) (418) -
18 Wipro IT Services Poland Sp z o o PLN 18 0 226 1,231 1,005 - 100% 1,401 188 36 152 -
19 Wipro Outsourcing Services (Ireland) Limited EUR 75 0 400 614 214 - 100% 1,400 255 32 223 -
20 Healthplan Services, Inc USD 66 0 (5,206) 5,952 11,157 - 100% 1,274 (82) (32) (50) -
21 Cellent AG EUR 75 389 1,050 2,472 1,033 1,028 100% 1,135 (41) - (41) -
22 Wipro Holdings UK Limited USD 66 6,334 (2,479) 10,684 6,829 3,270 100% 1,109 (1,254) 12 (1,266) -
23 Wipro Shanghai Limited RMB 10 90 157 848 601 - 100% 1,079 (37) 0 (37) -
24 PT WT Indonesia IDR 0.50 (h) 11 250 1,239 977 - 100% 1,062 452 (119) 333 -
25 Wipro Retail UK Limited GBP 96 0 153 327 174 - 100% 1,050 284 58 226 -
26 Wipro Technologies Australia Pty Ltd AUD 51 0 (542) 1,426 1,968 - 100% 1,026 (262) - (276) -
27 Designit Denmark A/S DKK 10 11 97 314 205 - 100% 673 (185) - (185) -
28 Wipro Poland Sp Zoo PLN 18 1 161 237 76 - 100% 664 157 34 124 -
29 Wipro Information Technology Austria GmbH(A) (Formerly Wipro EUR 75 1,927 (1,912) 418 403 - 100% 623 (112) 0 (112) -
Holdings Austria)
30 Wipro Bahrain Limited WLL BHD 176 6 235 432 190 - 100% 570 190 - 190 -
31 Wipro Technologies Nigeria Limited NGN 0 6 31 327 291 - 100% 469 60 60 (0) -
32 Wipro Japan KK JPY 59 (i) 759 (175) 651 67 - 100% 463 267 150 417 -
33 Wipro Chengdu Limited RMB 10 24 (215) 289 481 - 100% 451 (17) - (17) -
34 Wipro Doha LLC QAR 18 3 52 341 285 - 49% 443 67 7 60 -
35 Wipro Technologies Austria GmbH EUR 75 1,845 (2,065) 230 450 - 100% 434 (27) 0 (27) -
36 Designit Spain Digital SL EUR 75 0 107 334 227 - 100% 421 56 17 39 -
37 Wipro Airport IT Services Limited INR 1 50 48 865 766 - 74% 392 11 0 6 -
38 Wipro Information Technology Netherlands BV EUR 75 1,653 975 3,760 1,131 - 100% 380 213 19 194 -
39 Cellent AG Austria EUR 75 5 385 688 298 193 100% 328 30 8 23 -
40 Wipro Technologies Argentina SA ARS 5 175 (133) 190 148 - 100% 264 16 5 10 -
41 Designit MunchenGmbH EUR 75 2 (122) 99 219 - 100% 245 4 1 3 -
42 Designit Oslo A/S NOK 8 1 9 145 135 - 100% 193 (5) - (5) -
43 New Logic Technologies SARL EUR 75 46 (8) 112 73 - 100% 184 (54) 4 (58) -
44 Designit TLV Ltd ILS 18 0 56 135 79 - 100% 184 19 - 19 -
45 Cellent Mittelstandsberatung GmbH EUR 75 2 190 316 125 - 100% 179 13 4 9 -
46 Designit A/S (Group Company) DKK 10 94 263 494 136 - 100% 170 (57) - (57) -
47 Wipro (Thailand) Co Limited THB 2 154 108 314 52 - 100% 160 (31) (0) (31) -
48 Wipro Promax Analytics Solutions LLC USD 66 2 (145) 256 399 - 100% 156 (36) - (36) -
49 Designit Sweden AB SEK 8 1 (10) 109 118 - 100% 143 (9) - (9) -
50 Harrington Health Services Inc USD 66 0 1,429 1,578 150 - 100% 125 33 13 20 -
51 Wipro Insurance Solutions LLC USD 66 22 42 93 29 - 100% 110 55 0 55 -
52 Wipro Technologies Limited, Russia RUB 1 0 204 296 91 - 100% 95 41 15 25 -

Annual Report 2015-16

 Sr. Name of the Subsidiary Reporting Exchange Share Reserves Total Total Investments % of Sales & Profit Provision Profit Proposed
No. Currency rate as on capital & Assets Liabilities (b) Holding Other before for after Dividend
March, 31 Surplus [excl. (4) & Income (i) taxation taxation taxation (incl.
2016 (5)] (i) (i) (i) dividend
tax)

Wipro Limited
53 Wipro Travel Services Limited INR 1 1 112 359 246 - 100% 84 26 9 17 -
54 Designit Colombia SAS COP 0 5 (12) 64 72 - 100% 57 (13) - (13) -
55 Healthplan Services Insurance Agency, Inc USD 66 - 1,267 1,270 4 - 100% 53 10 4 7 -
56 Wipro Technology Chile SPA CLP 0 87 (142) 97 152 - 100% 50 (65) - (65) -
57 Wipro Technologies Peru SAC PEN 20 24 13 50 13 - 100% 43 14 - 14 -
58 Designit Tokyo Ltd JPY 1 9 (37) 45 73 - 100% 40 (16) - (16) -
59 FRONTWORX Informationstechnologie AG EUR 75 87 (11) 115 40 - 100% 39 (7) - (7) -
60 Wipro Promax Analytics Solutions (Europe) Limited GBP 96 0 (40) 20 59 - 100% 36 12 2 10 -
61 Wipro Information Technology Kazakhstan LLP KZT 0 9 (36) 6 33 - 100% 34 (21) - (21) -
62 Wipro Australia Pty Limited AUD 51 0 (108) 298 406 0 100% 32 22 - 22 -
63 Wipro BPO Philippines LTD Inc PHP 1 180 1,536 2,401 685 - 99.99% 25 1,035 (46) 1,081 -
64 Wipro Technologies SDN BHD MYR 17 0 0 25 25 - 100% 19 1 0 1 -
65 Wipro Technologies Norway AS NOK 8 53 (34) 12 (7) - 100% 9 (3) - (3) -
66 Wipro Do Brasil Sistemetas De Informatica Ltd BRL 18 33 (4) 30 1 - 100% 4 2 0 2 -
67 Wipro Promax IP Pty Ltd (formerly PAG IP Pty Ltd) (c ) AUD 51 0 1 1 - - 100% 3 3 - 3 -
68 Wipro Trademarks Holding Limited INR 1 1 37 46 8 - 100% 2 2 (1) 1 -
69 HPH Holdings Corp USD 66 0 3,520 3,527 7 - 100% 2 2 1 2 -
70 Wipro Technologies VZ, CA VEF 5 - (0) 3 4 - 100% 0 (0) - (0) -
71 Wipro SA Broad-based Ownership Scheme SPV (RF) (Pty) Ltd. ZAR 4 774 (3) 774 3 - 100% 0 (1) - (1) -
72 Wipro Corporate Technologies Ghana Limited GHS 17 - (1) 0 1 - - 0 (1) - (1) -
73 Wipro IT Services Inc USD 0 0 904 30,935 30,032 30,370 100% - 82 (21) 61 -
74 Wipro Promax Holdings Pty Ltd (formerly Promax Holdings Pty Ltd) (c) AUD 51 0 0 0 (0) - 100% - (27) - (27) -
75 Wipro Information Technology Egypt SAE EGP 7 22 (138) 84 200 - 100% - (45) - (45) -
76 Wipro Digital Aps(A) DKK 10 1,613 (459) 6,092 4,939 - 100% - (130) - (130) -
77 Wipro Europe Limited (formerly SAIC Europe Limited))(A) GBP 96 7 392 400 - 344 100% - (198) - (198) -
78 Wipro Holdings (Mauritius) Limited USD 66 6,351 (2,803) 3,552 4 - 100% - (2,603) - (2,603) -
79 Wipro Data Centre and Cloud Services Inc (formerly Macaw Merger Inc) USD 66 0 (0) 0 0 - 100% - (0) - (0) -
80 Healthplan Holdings, Inc USD 66 - 5,447 5,447 - 5,447 100% - - (0) 0 -
81 Wipro Overseas IT Services Pvt Ltd INR 1 1 - 1 0 - 100% - - - - -
82 3D Networks (UK) Limited (c) GBP 96 7 (6) 5 5 - 100% - - - - -
83 Wipro IT Services Ukraine LLC (a) UAH 2 - - - - - - - - - - -
84 Wipro (Dalian) Limited (a) RMB 10 - - - - - - - - - - -
85 Rainbow Software LLC (a) IQD 0 - - - - - - - - - - -
86 Wipro Technologies WT Sociedad Anonima (a) - - - - - - - - - - - - -
(a) Wipro Technologies W.T. Sociedad Anonima, Wipro IT Services Ukraine, Wipro (Dalian) Limited and Rainbow Software LLC are yet to commence operations.
(b) Investments exclude investments in subsidiaries
(c) Wipro Promax Holdings Pty Ltd, Wipro Promax IP Pty Ltd and 3D Networks (UK) Limited have been filed for de-registration.
(d) Wipro Technologies Spain S.L. has been liquidated during the current year,hence the financial information of subsidiary has not been included in the above list.
(e) Wipro Europe and SAS Wipro France, subsidiaries of Wipro Europe Limited and Wipro Portugal SA respectively were merged with New Logic Technologies SARL. Hence the financial information of Wipro Europe
and SAS Wipro France have not been included in the above list.
(f ) Wipro Technologies Canada Limited, a subsidiary of Wipro Information Technology Netherlands BV, merged into Wipro Solutions Canada Limited during the year. Hence the financial information of Wipro
Technologies Canada Limited has not been included in the above list.
(g) Horizon Merger, Inc. was incorporated during the financial year 2015-16 and subsequently merged with HPH Holdings Corp. Hence the financial information of Horizon Merger, Inc. has not been included in
the above list. Macaw Merger, Inc. was renamed as Wipro Data Centre and Cloud Services, Inc.
(h) Exchange rate is expressed per 100 IDR.
(i) Exchange rate is expressed per 100 YEN.
(j) Converted at yearly average exchage rate
(k) Macaw Merger, Inc. was renamed as Wipro Data Centre and Cloud Services, Inc.
* Value is less than one millon rupees.

Azim H Premji N Vaghul M K Sharma

Chairman & Managing Director Director Director

T K Kurien Jatin Pravinchandra Dalal M Sanaulla Khan

Executive Vice Chairman Chief Financial Officer Company Secretary

215
Consolidated Financial Statements under India GAAP

Bangalore, June 3, 2016

Consolidated Financial Statements Under IFRS

CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Equity holders

Wipro Limited:
We have audited the accompanying consolidated statements of financial position of Wipro Limited and its subsidiaries (the
Company) as of March31, 2016 and 2015, and the related consolidated statements of income, comprehensive income, changes in
equity and cash flows for each of the years in the three-year period ended March31, 2016. These consolidated financial statements
are the responsibility of the Companys management. Our responsibility is to express an opinion on these consolidated financial
statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States).
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures
in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable
basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position
of the Company as of March31, 2016 and 2015, and the results of their operations and their cash flows for each of the years in the
three-year period ended March31, 2016, in conformity with International Financial Reporting Standards as issued by International
Accounting Standards Board.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Wipro
Limiteds internal control over financial reporting as of March 31, 2016, based on criteria established in Internal Control Integrated
Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated
May 26, 2016 expressed an unqualified opinion on the effectiveness of the Companys internal control over financial reporting.

KPMG

Bangalore, India
May 26, 2016

216 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

WIPRO LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(` in millions, except share and per share data, unless otherwise stated)

As at March31,
Notes 2015 2016 2016
Convenience
translation
into U.S.$ in
millions
(Unaudited)
Refer note 2(iii)
ASSETS
Goodwill ............................................................................................ 5 68,078 101,991 1,539
Intangible assets............................................................................. 5 7,931 15,841 239
Property, plant and equipment ................................................ 4 54,206 64,952 980
Derivative assets ............................................................................. 15 736 260 4
Available for sale investments ................................................... 7 3,867 4,907 74
Deferred tax assets ........................................................................ 17 2,945 3,800 57
Non-current tax assets ................................................................. 11,409 11,751 177
Other non-current assets ............................................................ 11 14,369 15,828 239
Total non-current assets ..................................................... 163,541 219,330 3,309
Inventories ........................................................................................ 9 4,849 5,390 81
Trade receivables............................................................................ 8 91,531 102,380 1,545
Other current assets ...................................................................... 11 73,359 104,068 1,571
Unbilled revenues .......................................................................... 42,338 48,273 729
Available for sale investments ................................................... 7 53,908 132,944 2,007
Current tax assets ........................................................................... 6,490 7,812 118
Derivative assets ............................................................................. 15 5,077 5,675 86
Cash and cash equivalents ......................................................... 10 158,940 99,049 1,495
Total current assets ............................................................... 436,492 505,591 7,632
TOTAL ASSETS.......................................................................................... 600,033 724,921 10,941
EQUITY
Share capital..................................................................................... 4,937 4,941 75
Share premium ............................................................................... 14,031 14,642 221
Retained earnings .......................................................................... 372,248 425,735 6,426
Share based payment reserve ................................................... 1,312 2,229 34
Other components of equity ..................................................... 15,454 18,531 280
Equity attributable to the equity holders of the Company...... 407,982 466,078 7,036
Non-controlling interest .............................................................. 1,646 2,224 34
Total equity............................................................................... 409,628 468,302 7,070
LIABILITIES
Loans and borrowings.................................................................. 12 12,707 17,361 262
Derivative liabilities ....................................................................... 15 71 119 2
Deferred tax liabilities................................................................... 17 3,240 5,108 77
Non-current tax liabilities............................................................ 6,695 8,231 124
Other non-current liabilities....................................................... 14 3,658 7,225 109
Provisions .......................................................................................... 14 5 14
Total non-current liabilities ............................................. 26,376 38,058 574
Loans and borrowings and bank overdrafts ........................ 12 66,206 107,860 1,628
Trade payables and accrued expenses ................................... 13 58,745 68,187 1,027
Unearned revenues ....................................................................... 16,549 18,076 273
Current tax liabilities ..................................................................... 8,036 7,015 106
Derivative liabilities ....................................................................... 15 753 2,340 35
Other current liabilities ................................................................ 14 12,223 13,821 209
Provisions .......................................................................................... 14 1,517 1,262 19
Total current liabilities......................................................... 164,029 218,561 3,297
TOTAL LIABILITIES ................................................................................. 190,405 256,619 3,871
TOTAL EQUITY AND LIABILITIES ..................................................... 600,033 724,921 10,941
The accompanying notes form an integral part of these consolidated financial statements.

Wipro Limited 217

Consolidated Financial Statements Under IFRS

WIPRO LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME
(` in millions, except share and per share data, unless otherwise stated)

Year ended March31,

Notes 2014 2015 2016 2016
Convenience
translation
into U.S.$ in
millions
(Unaudited)
Refer note
2(iii)

Revenues ................................................................... 20 434,269 469,545 512,440 7,735
Cost of revenues...................................................... 21 (295,488) (321,284) (356,724) (5,385)
Gross profit 138,781 148,261 155,716 2,350
Selling and marketing expenses ....................... 21 (29,248) (30,625) (34,097) (515)
General and administrative expenses ............. 21 (23,538) (25,850) (28,465) (430)
Foreign exchange gains/(losses), net .............. 3,359 3,637 3,867 58
Results from operating activities 89,354 95,423 97,021 1,463
Finance expense ..................................................... 22 (2,891) (3,599) (5,582) (84)
Finance and other income................................... 23 14,542 19,859 23,280 353
Profit before tax 101,005 111,683 114,719 1,732
Income tax expense ............................................... 17 (22,600) (24,624) (25,305) (382)
Profit for the year 78,405 87,059 89,414 1,350
Profit attributable to:
Equity holders of the Company ......................... 77,967 86,528 88,922 1,343
Non-controlling interest....................................... 438 531 492 7
Profit for the year 78,405 87,059 89,414 1,350
Earnings per equity share: 24
Basic ............................................................................. 31.76 35.25 36.20 0.55
Diluted ....................................................................... 31.66 35.13 36.12 0.54
Weighted-average number of equity shares used in
computing earnings per equity share:
Basic ............................................................................ 2,454,745,434 2,454,681,650 2,456,559,400 2,456,559,400
Diluted ....................................................................... 2,462,626,739 2,462,579,161 2,461,689,908 2,461,689,908
The accompanying notes form an integral part of these consolidated financial statements.

218 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

WIPRO LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(` in millions, except share and per share data, unless otherwise stated)

Year ended March31,

Notes 2014 2015 2016 2016
Convenience
translation
into U.S.$ in
millions
(Unaudited)
Refernote2 (iii)
Profit for the year .................................................................................... 78,405 87,059 89,414 1,350
Other comprehensive income
Items that will not be reclassified to profit or loss:
Defined benefit plan actuarial gains/(losses) .................... (190) (64) (788) (12)
(190) (64) (788) (12)
Items that may be reclassified subsequently to profit or loss:
Foreign currency translation differences:
Translation difference relating to foreign operations 16 7,306 799 5,766 87
Net change in fair value of hedges of net investment in
foreign operations .................................................................. 16 (2,600) 390 (813) (12)
Net change in fair value of cash flow hedges .................... 15,17 (990) 3,051 (1,640) (25)
Net change in fair value of available for sale investments 7,17 (112) 856 638 10
3,604 5,096 3,951 60
Total other comprehensive income, net of taxes ............. 3,414 5,032 3,163 48
Total comprehensive income for the year ...................................... 81,819 92,091 92,577 1,398
Attributable to: .........................................................................................
Equity holders of the Company ............................................... 81,265 91,510 91,999 1,389
Non-controlling interest............................................................. 554 581 578 9
81,819 92,091 92,577 1,398
The accompanying notes form an intergral part of these consolidated financial statements.

Wipro Limited 219

 WIPRO LIMITED AND SUBSIDIARIES

220
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(` in millions, except share and per share data, unless otherwise stated)

Other components of equity

Equity Non-
Share Foreign Cash Shares Total
attributable controlling
Share Share Retained based currency flow Other heldby equity
No.ofshares* totheequity interest
capital premium earnings payment translation hedging reserves controlled
holders of
reserve reserve reserve Trust
theCompany
As at April 1, 2013 ................................................................... 2,462,934,730 4,926 11,760 259,178 1,316 5,470 1,489 215 (542) 283,812 1,171 284,983
Total comprehensive income for the year
Profit for the year .................................................................... 77,967 77,967 438 78,405
Other comprehensive income ........................................... 4,590 (990) (302) 3,298 116 3,414
Consolidated Financial Statements Under IFRS

Total comprehensive income for the year ............ 77,967 4,590 (990) (302) 81,265 554 81,819
Transaction with owners of the Company,
recognized directly in equity
Contributions by and distributions to owners of
the Company
Cash dividend paid (including dividend tax
(22,935) (22,935) (338) (23,273)
thereon) .....................................................................................
Issue of equity shares on exercise of options............... 3,382,543 6 904 (904) 6 6
Compensation cost related to employee share based (96) 609 513 513
payment.....................................................................................
Effec t of demerger of diversified business 838 838 838
(note 1) .......................................................................................
Total transactions with owners of the Company 3,382,543 6 904 (22,193) (295) (21,578) (338) (21,916)
As at March 31, 2014 .............................................. 2,466,317,273 4,932 12,664 314,952 1,021 10,060 499 (87) (542) 343,499 1,387 344,886

Annual Report 2015-16

 WIPRO LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(` in millions, except share and per share data, unless otherwise stated)

Wipro Limited
Othercomponentsofequity
Equity
Share Foreign Cash Shares attributable
based currency flow heldby totheequity Non-
Share Share Retained payment translation hedging Other controlled holders of controlling Total
No.ofshares* capital premium earnings reserve reserve reserve reserves Trust theCompany interest equity
As at April 1, 2014 .................................................................. 2,466,317,273 4,932 12,664 314,952 1,021 10,060 499 (87) (542) 343,499 1,387 344,886
Total comprehensive income for the year
Profit for the year ................................................................... 86,528 86,528 531 87,059
Other comprehensive income .......................................... 1,189 3,051 742 4,982 50 5,032
Total comprehensive income for the year ........... 86,528 1,189 3,051 742 91,510 581 92,091
Transaction with owners of the Company,
recognized directly in equity
Contributions by and distributions to owners of
the Company
Cash dividend paid (including dividend tax
thereon) .................................................................................... (29,168) (29,168) (322) (29,490)
Issue of equity shares on exercise of options.............. 2,725,765 5 909 (909) 5 5
Compensation cost related to employee share based
payment ................................................................................... (64) 1,200 1,136 1,136
Sale of treasury shares, gain .............................................. 458 542 1,000 1,000
Total transactions with owners of the Company 2,725,765 5 1,367 (29,232) 291 542 (27,027) (322) (27,349)

As at March 31, 2015 ............................................. 2,469,043,038 4,937 14,031 372,248 1,312 11,249 3,550 655 407,982 1,646 409,628
Consolidated Financial Statements Under IFRS

221
 WIPRO LIMITED AND SUBSIDIARIES

222
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(` in millions, except share and per share data, unless otherwise stated)

Othercomponentsofequity
Equity
Share Foreign Cash Shares attributable
based currency flow heldby totheequity Non-
Share Share Retained payment translation hedging Other controlled holders of controlling Total
No.ofshares* capital premium earnings reserve reserve reserve reserves Trust theCompany interest equity
As at April 1, 2015 ................................................................ 2,469,043,038 4,937 14,031 372,248 1,312 11,249 3,550 655 407,982 1,646 409,628
Total comprehensive income for the year
Profit for the year ................................................................. 88,922 88,922 492 89,414
Other comprehensive income ........................................ 4,867 (1,640) (150) 3,077 86 3,163
Consolidated Financial Statements Under IFRS

Total comprehensive income for the year .......... 88,922 4,867 (1,640) (150) 91,999 578 92,577
Transaction with owners of the Company,
recognized directly in equity
Contributions by and distributions to owners of
the Company
Cash dividend paid (including dividend tax (35,494) (35,494) (35,494)
thereon) ..................................................................................
Issue of equity shares on exercise of options............ 1,670,252 4 611 (611) 4 4
Compensation cost related to employee share based 59 1,528 1,587 1,587
payment..................................................................................
Total transactions with owners of the Company 1,670,252 4 611 (35,435) 917 (33,903) (33,903)
As at March 31, 2016 ............................................ 2,470,713,290 4,941 14,642 425,735 2,229 16,116 1,910 505 466,078 2,224 468,302
Convenience translation into U.S.$ in million 75 221 6,426 34 243 29 8 7,036 34 7,070
(Unaudited) Refer note 2 (iii) ...............................

*Includes 16,640,212, 14,829,824 and 14,829,824 treasury shares held as of March 31, 2014, 2015 and 2016 respectively by a controlled trust.

The accompanying notes form an integral part of these consolidated financial statements.

Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

WIPRO LIMITED AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(` in millions, except share and per share data, unless otherwise stated)
Year ended March31,
2014 2015 2016 2016
Convenience
translation
into U.S.$ in
millions
(Unaudited)
Refer note
2(iii)
Cash flows from operating activities:
Profit for the year .................................................................................................... 78,405 87,059 89,414 1,351
Adjustments to reconcile profit for the year to net cash generated from
operating activities:
(Gain)/loss on sale of property, plant and equipment and intangible
assets, net ........................................................................................................... (55) 6 (55) (1)
Depreciation and amortisation ................................................................... 11,106 12,823 14,967 226
Exchange loss, net ........................................................................................... 1,054 3,946 2,664 40
Gain on sale of investments, net ................................................................ (1,697) (3,948) (2,646) (40)
Share based compensation expense ........................................................ 513 1,138 1,534 23
Income tax expense ........................................................................................ 22,600 24,624 25,305 382
Dividend and interest (income)/ expense, net ...................................... (11,977) (15,143) (19,224) (290)
Changes in operating assets and liabilities:
Trade receivables .................................................................................. (8,299) (5,929) (5,478) (83)
Unbilled revenues ................................................................................ (7,346) (3,004) (5,329) (80)
Inventories .............................................................................................. 970 (2,556) (541) (8)
Other assets ............................................................................................ (8,902) (3,742) (768) (12)
Trade payables, accrued expenses, other liabilities and
provisions ................................................................................................ 10,877 3,469 4,683 71
Unearned revenues ............................................................................. 2,420 3,784 1,282 19
Cash generated from operating activities before taxes .......................................... 89,669 102,527 105,808 1,598
Income taxes paid, net ................................................................................... (21,772) (24,265) (26,935) (407)
Net cash generated from operating activities ................................................. 67,897 78,262 78,873 1,191
Cash flows from investing activities:
Expenditure on property, plant and equipment .................................. (8,913) (12,661) (13,951) (211)
Proceeds from sale of property, plant and equipment ...................... 1,091 1,389 779 12
Purchase of available for sale investments ............................................. (465,801) (551,282) (867,069) (13,088)
Proceeds from sale of available for sale investments.......................... 473,553 561,582 793,697 11,980
Impact of investment hedging activities, net ........................................ (5,315) 266 4
Investment in inter-corporate deposits ................................................... (13,905) (39,200) (67,889) (1,025)
Refund of inter-corporate deposits ........................................................... 10,865 13,500 36,950 558
Payment of deferred consideration in respect of business acquisition (243)
Cash transferred pursuant to demerger .................................................. (3,093)
Payment for business acquisitions including deposit in escrow, net
of cash acquired ............................................................................................... (2,985) (11,331) (39,373) (594)
Interest received ............................................................................................... 11,375 12,206 18,368 277
Dividend received ............................................................................................ 354 224 66 1
Net cash (used) in investing activities ................................................................. (2,774) (25,816) (138,156) (2,086)
Cash flows from financing activities:
Proceeds from issuance of equity shares ................................................ 6 5 4
Repayment of loans and borrowings ....................................................... (117,550) (98,419) (137,298) (2,072)
Proceeds from loans and borrowings....................................................... 106,782 119,300 172,549 2,605
Proceeds from sale of treasury shares ...................................................... 1,000
Interest paid on loans and borrowings .................................................... (937) (919) (1,348) (20)
Payment of cash dividend (including dividend tax thereon)........... (23,273) (29,490) (35,494) (536)
Net cash (used) in financing activities................................................................. (34,972) (8,523) (1,587) (23)
Net increase/(decrease) in cash and cash equivalents during the year 30,151 43,923 (60,870) (918)
Effect of exchange rate changes on cash and cash equivalents .......................... (69) 589 549 8
Cash and cash equivalents at the beginning of the year ........................................ 84,119 114,201 158,713 2,396
Cash and cash equivalents at the end of the year (note 10) .......................... 114,201 158,713 98,392 1,486

The accompanying notes form an integral part of these consolidated financial statements.

Wipro Limited 223

Consolidated Financial Statements Under IFRS

WIPRO LIMITED AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(` in millions, except share and per share data, unless otherwise stated)

1. The Company overview a. Derivative financial instruments;

Wipro Limited (Wipro or the Parent Company), together with b. Available-for-sale financial assets;
its subsidiaries (collectively, the Company or the Group) is a
c. The defined benefit asset/(liability) is recognised as the
leading India based provider of IT Services, including Business present value of defined benefit obligation less fair value
Process Services (BPS), globally. of plan assets; and
Effective as of March 31, 2013, the Group completed the d. Contingent consideration.
demerger of its consumer care and lighting, infrastructure
engineering and other non-IT business segments (collectively, (iii) Convenience translation (unaudited)
the Diversified Business) into Wipro Enterprises (P) Limited
The accompanying consolidated financial statements have been
(formerly Wipro Enterprises Limited), a company incorporated
prepared and reported in Indian rupees, the national currency of
under the laws of India.
India. Solely for the convenience of the readers, the consolidated
Wipro is a public limited company incorporated and domiciled financial statements as of and for the year ended March 31,
in India. The address of its registered office is Wipro Limited, 2016, have been translated into United States dollars at the
Doddakannelli, Sarjapur Road, Bangalore 560 035, Karnataka, certified foreign exchange rate of US$1 = ` 66.25 as published
India. Wipro has its primary listing with Bombay Stock Exchange by Federal Reserve Board of Governors on March31, 2016. No
and National Stock Exchange in India. The Companys American representation is made that the Indian rupee amounts have
Depository Shares representing equity shares are also listed been, could have been or could be converted into United States
on the New York Stock Exchange. These consolidated financial dollars at such a rate or any other rate. Due to rounding off, the
statements were authorized for issue by the Audit Committee translated numbers presented throughout the document may
on May26, 2016. not add up precisely to the totals.
2. Basis of preparation of consolidated financial (iv) Use of estimates and judgment
statements
The preparation of the consolidated financial statements in
(i) Statement of compliance and basis of preparation conformity with IFRS requires management to make judgments,
estimates and assumptions that affect the application of
The consolidated financial statements have been prepared in accounting policies and the reported amounts of assets,
accordance with International Financial Reporting Standards liabilities, income and expenses. Actual results may differ from
and its interpretations (IFRS), as issued by the International those estimates.
Accounting Standards Board (IASB). Accounting policies have
been applied consistently to all periods presented in these Estimates and underlying assumptions are reviewed on an
consolidated financial statements. ongoing basis. Revisions to accounting estimates are recognized
in the period in which the estimates are revised and in any future
The consolidated financial statements correspond to the periods affected. In particular, information about significant
classification provisions contained in IAS 1(revised), Presentation areas of estimation, uncertainty and critical judgments in
of Financial Statements. For clarity, various items are aggregated applying accounting policies that have the most significant
in the statements of income and statements of financial position. effect on the amounts recognized in the consolidated financial
These items are disaggregated separately in the notes to the statements are included in the following notes:
consolidated financial statements, where applicable.
a) Revenue recognition: The Company uses the percentage of
All amounts included in the consolidated financial statements completion method using the input (cost expended) method to
are reported in millions of Indian rupees ( ` in millions) except measure progress towards completion in respect of fixed price
share and per share data, unless otherwise stated. Due to contracts. Percentage of completion method accounting relies
rounding off, the numbers presented throughout the document on estimates of total expected contract revenue and costs. This
may not add up precisely to the totals and percentages may not method is followed when reasonably dependable estimates
precisely reflect the absolute figures. of the revenues and costs applicable to various elements of
(ii) Basis of measurement the contract can be made. Key factors that are reviewed in
estimating the future costs to complete include estimates of
The consolidated financial statements have been prepared on future labor costs and productivity efficiencies. Because the
a historical cost convention and on an accrual basis, except for financial reporting of these contracts depends on estimates
the following material items which have been measured at fair that are assessed continually during the term of these contracts,
value as required by relevant IFRS:-

224 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

recognized revenue and profit are subject to revisions as the increases and mortality rates. Due to the complexities involved
contract progresses to completion. When estimates indicate in the valuation and its long-term nature, a defined benefit
that a loss will be incurred, the loss is provided for in the obligation is highly sensitive to changes in these assumptions.
period in which the loss becomes probable. Volume discounts All assumptions are reviewed at each reporting date.
are recorded as a reduction of revenue. When the amount of
g) Other estimates: The Company estimates the uncollectability
discount varies with the levels of revenue, volume discount is
of accounts receivable by analyzing historical payment patterns,
recorded based on estimate of future revenue from the customer.
customer concentrations, customer credit-worthiness and
b) Goodwill: Goodwill is tested for impairment at least annually current economic trends. If the financial condition of a customer
and when events occur or changes in circumstances indicate deteriorates, additional allowances may be required. The stock
that the recoverable amount of the cash generating unit is compensation expense is determined based on the Companys
less than its carrying value. The recoverable amount of cash estimate of equity instruments that will eventually vest.
generating units is higher of value-in-use and fair value less cost
Non-marketable equity investments are initially recorded
to sell. The calculation involves use of significant estimates and
at cost and subsequently measured at fair value. Fair value
assumptions which includes turnover and earnings multiples,
of investments is determined using the market and income
growth rates and net margins used to calculate projected future
approaches. The market approach includes the use of financial
cash flows, risk-adjusted discount rate, future economic and
metrics and ratios of comparable companies, such as revenue,
market conditions.
earnings, comparable performance multiples, recent financial
c) Income taxes: The major tax jurisdictions for the Company rounds and the level of marketability of the investments. The
are India and the United States of America. Significant judgments selection of comparable companies requires management
are involved in determining the provision for income taxes judgment and is based on a number of factors, including
including judgment on whether tax positions are probable of comparable company sizes, growth rates, and development
being sustained in tax assessments. A tax assessment can involve stages. The income approach includes the use of discounted
complex issues, which can only be resolved over extended time cash flow model, which requires significant estimates regarding
periods. the investees revenue, costs, and discount rates based on the
risk profile of comparable companies. Estimates of revenue and
d) Deferred taxes: Deferred tax is recorded on temporary
costs are developed using available historical and forecast data.
differences between the tax bases of assets and liabilities and
their carrying amounts, at the rates that have been enacted 3. Significant accounting policies
or substantively enacted at the reporting date. The ultimate
(i) Basis of consolidation
realization of deferred tax assets is dependent upon the
generation of future taxable profits during the periods in which Subsidiaries
those temporary differences and tax loss carry-forwards become
The Company determines the basis of control in line with the
deductible. The Company considers the expected reversal of
requirements of IFRS 10, Consolidated Financial Statements.
deferred tax liabilities and projected future taxable income in
making this assessment. The amount of the deferred tax assets Subsidiaries are entities controlled by the Group. The Group
considered realizable, however, could be reduced in the near controls an entity when it is exposed to, or has rights to,
term if estimates of future taxable income during the carry- variable returns from its involvement with the entity and has
forward period are reduced. the ability to affect those returns through its power over the
entity. The financial statements of subsidiaries are included in
e) Business combination: In accounting for business
the consolidated financial statements from the date on which
combinations, judgment is required in identifying whether
control commences until the date on which control ceases.
an identifiable intangible asset is to be recorded separately
from goodwill. Additionally, estimating the acquisition date All intra-Group balances, transactions, income and expenses are
fair value of the identifiable assets acquired, and liabilities and eliminated in full on consolidation.
contingent consideration involves management judgment.
These measurements are based on information available at the Non-controlling interest
acquisition date and are based on expectations and assumptions Non-controlling interests in the net assets (excluding goodwill)
that have been deemed reasonable by management. Changes of consolidated subsidiaries are identified separately from the
in these judgments, estimates, and assumptions can materially Companys equity. The interest of non-controlling shareholders
affect the results of operations. may be initially measured either at fair value or at the non-
f) Defined benefit plans: The cost of the defined benefit plans controlling interests proportionate share of the fair value of the
and the present value of the defined benefit obligation are based acquirees identifiable net assets. The choice of measurement
on actuarial valuation using the projected unit credit method. basis is made on an acquisition to acquisition basis. Subsequent
An actuarial valuation involves making various assumptions to acquisition, the carrying amount of non-controlling interest
that may differ from actual developments in the future. These is the amount of those interests at initial recognition plus the
include the determination of the discount rate, future salary non-controlling interests share of subsequent changes in equity.

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Consolidated Financial Statements Under IFRS

Total comprehensive income is attributed to non-controlling net investment in a foreign operation are recognized in other
interests even if it results in the non-controlling interest having comprehensive income and presented within equity in the FCTR
a deficit balance. to the extent the hedge is effective. To the extent the hedge is
ineffective, such differences are recognized in the statement
(ii) Functional and presentation currency
of income.
Items included in the financial statements of each of the
When the hedged part of a net investment is disposed of,
Companys entities are measured using the currency of the
the relevant amount recognized in FCTR is transferred to the
primary economic environment in which these entities operate
statement of income as part of the profit or loss on disposal.
(i.e. the functional currency). These consolidated financial
Foreign currency differences arising from translation of
statements are presented in Indian rupees, the national currency
intercompany receivables or payables relating to foreign
of India, which is the functional currency of the Company.
operations, the settlement of which is neither planned nor
(iii) Foreign currency transactions and translation likely in the foreseeable future, are considered to form part of
net investment in foreign operation and are recognized in FCTR.
a) Transactions and balances
(iv) Financial instruments
Transactions in foreign currency are translated into the
respective functional currencies using the exchange rates a) Non-derivative financial instruments
prevailing at the date of the transaction. Foreign exchange gains
Non derivative financial instruments consist of:
and losses resulting from the settlement of such transactions
and from translation at the exchange rates prevailing at the financial assets, which include cash and cash equivalents,
reporting date of monetary assets and liabilities denominated trade receivables, unbilled revenues, finance lease
in foreign currencies are recognized in the statement of income receivables, employee and other advances, investments
and reported within foreign exchange gains/(losses), net within in equity and debt securities and eligible current and non-
results of operating activities except when deferred in other current assets;
comprehensive income as qualifying cash flow hedges and financial liabilities, which include long and short-term loans
qualifying net investment hedges. Gains/(losses) relating to and borrowings, bank overdrafts, trade payables, eligible
translation or settlement of borrowings denominated in foreign current and non-current liabilities.
currency are reported within finance expense. Non-monetary
assets and liabilities denominated in foreign currency and Non derivative financial instruments are recognized initially at
measured at historical cost are translated at the exchange rate fair value. Financial assets are derecognized when substantial
prevalent at the date of transaction. Translation differences on risks and rewards of ownership of the financial asset have
non-monetary financial assets measured at fair value at the been transferred. In cases where substantial risks and rewards
reporting date, such as equities classified as available for sale are of ownership of the financial assets are neither transferred
included in other comprehensive income, net of taxes. nor retained, financial assets are derecognized only when the
Company has not retained control over the financial asset.
b) Foreign operations
Subsequent to initial recognition, non-derivative financial
For the purpose of presenting consolidated financial statements, instruments are measured as described below:
the assets and liabilities of the Companys foreign operations
that have a functional currency other than Indian rupees are A. Cash and cash equivalents
translated into Indian rupees using exchange rates prevailing at The Companys cash and cash equivalents consist of cash on
the reporting date. Income and expense items are translated at hand and in banks and demand deposits with banks, which
the average exchange rates for the period. Exchange differences can be withdrawn at any time, without prior notice or penalty
arising, if any, are recognized in other comprehensive income on the principal.
and held in foreign currency translation reserve (FCTR), a
component of equity, except to the extent that the translation For the purposes of the cash flow statement, cash and cash
difference is allocated to non-controlling interest. When a foreign equivalents include cash on hand, in banks and demand deposits
operation is disposed off, the relevant amount recognized in with banks, net of outstanding bank overdrafts that are repayable
FCTR is transferred to the statement of income as part of the on demand and are considered part of the Companys cash
profit or loss on disposal. Goodwill and fair value adjustments management system. In the consolidated statement of financial
arising on the acquisition of a foreign operation are treated as position, bank overdrafts are presented under borrowings within
assets and liabilities of the foreign operation and translated at current liabilities.
the exchange rate prevailing at the reporting date. B. Available-for-sale financial assets
c) Others The Company has classified investments in liquid mutual funds,
Foreign currency differences arising on the translation or equity securities and certain debt securities (primarily certificate
settlement of a financial liability designated as a hedge of a of deposits with banks) as available-for-sale financial assets.
These investments are measured at fair value and changes

226 Annual Report 2015-16

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therein, other than impairment losses, are recognized in other on the hedging instrument recognized in cash flow hedging
comprehensive income and presented within equity, net of taxes. reserve till the period the hedge was effective remains in cash
The impairment losses, if any, are reclassified from equity into flow hedging reserve until the forecasted transaction occurs.
statement of income. When an available for sale financial asset The cumulative gain or loss previously recognized in the cash
is derecognized, the related cumulative gain or loss recognised flow hedging reserve is transferred to the statement of income
in equity is transferred to the statement of income. upon the occurrence of the related forecasted transaction. If
the forecasted transaction is no longer expected to occur, such
C. Loans and receivables
cumulative balance is immediately recognized in the statement
Loans and receivables are non-derivative financial assets with of income.
fixed or determinable payments that are not quoted in an active
B. Hedges of net investment in foreign operations
market. They are presented as current assets, except for those
maturing later than 12 months after the reporting date which The Company designates derivative financial instruments as
are presented as non-current assets. Loans and receivables are hedges of net investments in foreign operations. The Company
initially recognized at fair value and subsequently measured has also designated a combination of foreign currency
at amortized cost using the effective interest method, less denominated borrowings and related cross-currency swaps as a
any impairment losses. Loans and receivables comprise trade hedge of net investment in foreign operations. Changes in the fair
receivables, unbilled revenues, cash and cash equivalents and value of the derivative hedging instruments and gains/(losses)
other assets. on translation or settlement of foreign currency denominated
borrowings designated as a hedge of net investment in foreign
D. Trade and other payables
operations are recognized in other comprehensive income
Trade and other payables are initially recognized at fair value, and presented within equity in the FCTR to the extent that the
and subsequently carried at amortized cost using the effective hedge is effective. To the extent that the hedge is ineffective,
interest method. For these financial instruments, the carrying changes in fair value are recognized in the statement of income
amounts approximate fair value due to the short term maturity and reported within foreign exchange gains/(losses), net within
of these instruments. results from operating activities.
b) Derivative financial instruments C. Others
The Company is exposed to foreign currency fluctuations on Changes in fair value of foreign currency derivative instruments
foreign currency assets, liabilities, net investment in foreign neither designated as cash flow hedges nor hedges of net
operations and forecasted cash flows denominated in foreign investment in foreign operations are recognized in the statement
currency. of income and reported within foreign exchange gains, net
within results from operating activities.
The Company limits the effect of foreign exchange rate
fluctuations by following established risk management policies Changes in fair value and gains/(losses) on settlement of foreign
including the use of derivatives. The Company enters into currency derivative instruments relating to borrowings, which
derivative financial instruments where the counterparty is have not been designated as hedges are recorded in finance
primarily a bank. expense.
Derivatives are recognized and measured at fair value. (v) Equity and share capital
Attributable transaction costs are recognized in statement of
a) Share capital and share premium
income as cost.
The authorized share capital of the Company as of March31, 2015
Subsequent to initial recognition, derivative financial instruments
and 2016 is ` 6,100 million divided into 2,917,500,000 equity
are measured as described below:
shares of ` 2 each, 25,000,000 preference shares of ` 10 each
A. Cash flow hedges and 150,000 10% optionally convertible cumulative preference
shares of ` 100 each. Par value of the equity shares is recorded
Changes in the fair value of the derivative hedging instrument
as share capital and the amount received in excess of par value
designated as a cash flow hedge are recognized in other
is classified as share premium.
comprehensive income and held in cash flow hedging reserve,
net of taxes, a component of equity, to the extent that the hedge Every holder of the equity shares, as reflected in the records of the
is effective. To the extent that the hedge is ineffective, changes in Company as of the date of the shareholder meeting shall have
fair value are recognized in the statement of income and reported one vote in respect of each share held for all matters submitted
within foreign exchange gains/(losses), net within results from to vote in the shareholder meeting.
operating activities. If the hedging instrument no longer meets
b) Shares held by controlled trust (Treasury shares)
the criteria for hedge accounting, then hedge accounting is
discontinued prospectively. If the hedging instrument expires The Companys equity shares held by the controlled trust, which
or is sold, terminated or exercised, the cumulative gain or loss is consolidated as a part of the Group are classified as Treasury

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Consolidated Financial Statements Under IFRS

shares. The Company has 16,640,212, 14,829,824 and 14,829,824 b) Depreciation

treasury shares as of March31, 2014, 2015 and 2016, respectively.
The Company depreciates property, plant and equipment over
Treasury shares are recorded at acquisition cost.
the estimated useful life on a straight-line basis from the date
c) Retained earnings the assets are available for use. Assets acquired under finance
lease and leasehold improvements are amortized over the
Retained earnings comprises of the Companys undistributed
shorter of estimated useful life of the asset or the related lease
earnings after taxes. A portion of these earnings amounting to
term. Term licenses are amortized over their respective contract
`1,139 is not freely available for distribution.
term. Freehold land is not depreciated. The estimated useful
d) Share based payment reserve life of assets are reviewed and where appropriate are adjusted,
annually. The estimated useful lives of assets are as follows:
The share based payment reserve is used to record the value
of equity-settled share based payment transactions with Category Useful life
employees. The amounts recorded in share based payment Buildings 28 to 40 years
reserve are transferred to share premium upon exercise of stock Plant and machinery 5 to 21 years
options and restricted stock unit options by employees. Computer, equipment and software 2 to 7 years
e) Cash flow hedging reserve Furniture, fixtures and equipment 3 to 10 years
Vehicles 4 to 5 years
Changes in fair value of derivative hedging instruments
designated and effective as a cash flow hedge are recognized When parts of an item of property, plant and equipment
in other comprehensive income (net of taxes), and presented have different useful lives, they are accounted for as separate
within equity as cash flow hedging reserve. items (major components) of property, plant and equipment.
Subsequent expenditure relating to property, plant and
f) Foreign currency translation reserve equipment is capitalized only when it is probable that future
The exchange differences arising from the translation of financial economic benefits associated with these will flow to the
statements of foreign subsidiaries, differences arising from Company and the cost of the item can be measured reliably.
translation of long-term inter-company receivables or payables Deposits and advances paid towards the acquisition of property,
relating to foreign operations, changes in fair value of the plant and equipment outstanding as of each reporting date and
derivative hedging instruments and gains/(losses) on translation the cost of property, plant and equipment not available for use
or settlement of foreign currency denominated borrowings before such date are disclosed under capital work- in-progress.
designated as hedge of net investment in foreign operations
are recognized in other comprehensive income, net of taxes and (vii) Business combination, Goodwill and Intangible assets
presented within equity in the FCTR. a) Business combination
g) Other reserves Business combinations are accounted for using the purchase
Changes in the fair value of available for sale financial (acquisition) method. The cost of an acquisition is measured
assets, other than impairment loss, is recognized in other as the fair value of the assets transferred, liabilities incurred or
comprehensive income (net of taxes), and presented within assumed and equity instruments issued at the date of exchange
equity in other reserves. by the Company. Identifiable assets acquired and liabilities
and contingent liabilities assumed in a business combination
h) Dividend are measured initially at fair value at the date of acquisition.
A final dividend, including tax thereon, on common stock Transaction costs incurred in connection with a business
is recorded as a liability on the date of approval by the acquisition are expensed as incurred.
shareholders. An interim dividend, including tax thereon, is The cost of an acquisition also includes the fair value of any
recorded as a liability on the date of declaration by the board contingent consideration measured as at the date of acquisition.
of directors. Any subsequent changes to the fair value of contingent
(vi) Property, plant and equipment consideration classified as liabilities, other than measurement
period adjustments, are recognized in the consolidated
a) Recognition and measurement statement of income.
Property, plant and equipment are measured at cost less b) Goodwill
accumulated depreciation and impairment losses, if any. Cost
includes expenditures directly attributable to the acquisition The excess of the cost of an acquisition over the Companys share
of the asset. General and specific borrowing costs directly in the fair value of the acquirees identifiable assets, liabilities and
attributable to the construction of a qualifying asset are contingent liabilities is recognized as goodwill. If the excess is
capitalized as part of the cost. negative, a bargain purchase gain is recognized immediately in
the statement of income.

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c) Intangible assets (ix) Inventories

Intangible assets acquired separately are measured at cost of Inventories are valued at lower of cost and net realizable
acquisition. Intangible assets acquired in a business combination value, including necessary provision for obsolescence. Cost is
are measured at fair value as at the date of acquisition. Following determined using the weighted average method.
initial recognition, intangible assets are carried at cost less
(x) Impairment
accumulated amortisation and impairment losses, if any.
a) Financial assets
The amortisation of an intangible asset with a finite useful life
reflects the manner in which the economic benefit is expected to The Company assesses at each reporting date whether there
be generated and is included in selling and marketing expenses is any objective evidence that a financial asset or a group of
in the consolidated statements of income. financial assets is impaired. If any such indication exists, the
Company estimates the amount of impairment loss.
The estimated useful life of amortizable intangibles are reviewed
and where appropriate are adjusted, annually. The estimated A. Loans and receivables
useful lives of the amortizable intangible assets for the current
Impairment losses on trade and other receivables are recognized
and comparative periods are as follows:
using separate allowance accounts. Refer Note 2 (iv) (g) for
Category Useful life further information regarding the determination of impairment.
Customer-related intangibles 5to10years B. Available for sale financial assets
Marketing related intangibles 3to10 years
When the fair value of available-for-sale financial assets declines
(viii) Leases below acquisition cost and there is objective evidence that
the asset is impaired, the cumulative gain/loss that has been
The determination of whether an arrangement is, or contains,
recognized in other comprehensive income, a component of
a lease is based on the substance of the arrangement at the
equity in other reserves is transferred to the statement of income.
inception date. The arrangement is, or contains a lease if,
An impairment loss may be reversed in subsequent periods, if
fulfillment of the arrangement is dependent on the use of a
the indicators for the impairment no longer exist. Such reversals
specific asset or assets or the arrangement conveys a right to
are recognized in other comprehensive income.
use the asset or assets, even if that right is not explicitly specified
in an arrangement. b) Non financial assets
a) Arrangements where the Company is the lessee The Company assesses long-lived assets such as property, plant,
equipment and acquired intangible assets for impairment
Leases of property, plant and equipment, where the Company
whenever events or changes in circumstances indicate that
assumes substantially all the risks and rewards of ownership are
the carrying amount of an asset or group of assets may not
classified as finance leases. Finance leases are capitalized at lower
be recoverable. If any such indication exists, the Company
of the fair value of the leased property and the present value of
estimates the recoverable amount of the asset or group of
the minimum lease payments. Lease payments are apportioned
assets. The recoverable amount of an asset or cash generating
between the finance charge and the outstanding liability. The
unit is the higher of its fair value less cost to sell (FVLCTS) and
finance charge is allocated to periods during the lease term at
its value-in-use (VIU). If the recoverable amount of the asset
a constant periodic rate of interest on the remaining balance
or the recoverable amount of the cash generating unit to
of the liability.
which the asset belongs is less than its carrying amount, the
Leases where the lessor retains substantially all the risks and carrying amount is reduced to its recoverable amount. The
rewards of ownership are classified as operating leases. Payments reduction is treated as an impairment loss and is recognized
made under operating leases are recognized in the statement of in the statement of income. If at the reporting date, there is an
income on a straight-line basis over the lease term. indication that a previously assessed impairment loss no longer
exists, the recoverable amount is reassessed and the impairment
b) Arrangements where the Company is the lessor
losses previously recognized are reversed such that the asset is
In certain arrangements, the Company recognizes revenue recognized at its recoverable amount but not exceeding written
from the sale of products given under finance leases. The down value which would have been reported if the impairment
Company records gross finance receivables, unearned income losses had not been recognized initially.
and the estimated residual value of the leased equipment on
Goodwill is tested for impairment at least annually at the same
consummation of such leases. Unearned income represents the
time and when events occur or changes in circumstances
excess of the gross finance lease receivable plus the estimated
indicate that the recoverable amount of the cash generating
residual value over the sales price of the equipment. The
unit is less than its carrying value. The goodwill impairment test
Company recognizes unearned income as finance income over
is performed at the level of cash-generating unit or groups of
the lease term using the effective interest method.
cash-generating units which represent the lowest level at which

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Consolidated Financial Statements Under IFRS

goodwill is monitored for internal management purposes. An C. Gratuity

impairment in respect of goodwill is not reversed.
In accordance with the Payment of Gratuity Act, 1972, applicable
(xi) Employee benefits for Indian companies, the Company provides for a lump sum
payment to eligible employees, at retirement or termination
a) Post-employment and pension plans
of employment based on the last drawn salary and years of
The Group participates in various employee benefit plans. employment with the Company. The gratuity fund is managed
Pensions and other post-employment benefits are classified as by the Life Insurance Corporation of India (LIC), HDFC Standard
either defined contribution plans or defined benefit plans. Under Life, TATA AIG and Birla Sun-life. The Companys obligation in
a defined contribution plan, the Companys only obligation respect of the gratuity plan, which is a defined benefit plan, is
is to pay a fixed amount with no obligation to pay further provided for based on actuarial valuation using the projected
contributions if the fund does not hold sufficient assets to pay unit credit method. The Company recognizes actuarial gains and
all employee benefits. The related actuarial and investment risks losses immediately in other comprehensive income, net of taxes.
fall on the employee. The expenditure for defined contribution
b) Termination benefits
plans is recognized as an expense during the period when the
employee provides service. Under a defined benefit plan, it is Termination benefits are expensed when the Company can no
the Companys obligation to provide agreed benefits to the longer withdraw the offer of those benefits.
employees. The related actuarial and investment risks fall on the
c) Short-term benefits
Company. The present value of the defined benefit obligations
is calculated by an independent actuary using the projected Short-term employee benefit obligations are measured on an
unit credit method. undiscounted basis and are recorded as expense as the related
service is provided. A liability is recognized for the amount
During the year ended March31, 2014, the Company had applied
expected to be paid under short-term cash bonus or profit-
IAS 19 (as revised in June 2011) Employee Benefits and the
sharing plans, if the Company has a present legal or constructive
related consequential amendments. IAS 19R has been applied
obligation to pay this amount as a result of past service provided
retrospectively in accordance with transitional provisions. As a
by the employee and the obligation can be estimated reliably.
result, all actuarial gains or losses are immediately recognized
in other comprehensive income, net of taxes and permanently d) Compensated absences
excluded from profit or loss. Further, the profit or loss will no
The employees of the Company are entitled to compensated
longer include an expected return on plan assets. Instead net
absences. The employees can carry forward a portion of the
interest recognized in profit or loss is calculated by applying the
unutilized accumulating compensated absences and utilize it
discount rate used to measure the defined benefit obligation to
in future periods or receive cash at retirement or termination
the net defined benefit liability or asset. The actual return on the
of employment. The Company records an obligation for
plan assets above or below the discount rate is recognized as
compensated absences in the period in which the employee
part of re-measurement of net defined liability or asset through
renders the services that increases this entitlement. The
other comprehensive income, net of taxes.
Company measures the expected cost of compensated absences
The Company has the following employee benefit plans: as the additional amount that the Company expects to pay as a
result of the unused entitlement that has accumulated at the end
A. Provident fund
of the reporting period. The Company recognizes accumulated
Employees receive benefits from a provident fund, which is a compensated absences based on actuarial valuation using the
defined benefit plan. The employer and employees each make projected unit credit method. Non-accumulating compensated
periodic contributions to the plan. A portion of the contribution absences are recognized in the period in which the absences
is made to the approved provident fund trust managed by the occur.
Company while the remainder of the contribution is made to
(xii) Share based payment transactions
the government administered pension fund. The contributions
to the trust managed by the Company is accounted for as a Selected employees of the Company receive remuneration in
defined benefit plan as the Company is liable for any shortfall the form of equity settled instruments, for rendering services
in the fund assets based on the government specified minimum over a defined vesting period. Equity instruments granted are
rates of return. measured by reference to the fair value of the instrument at the
date of grant. In cases, where equity instruments are granted at
B. Superannuation
a nominal exercise price, the intrinsic value on the date of grant
Superannuation plan, a defined contribution scheme is approximates the fair value. The expense is recognized in the
administered by Life Insurance Corporation of India and ICICI statement of income with a corresponding increase to the share
Prudential Insurance Company Limited. The Company makes based payment reserve, a component of equity.
annual contributions based on a specified percentage of each
The equity instruments generally vest in a graded manner over
eligible employees salary.
the vesting period. The fair value determined at the grant date is

230 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

expensed over the vesting period of the respective tranches of the progress of completion or to estimate the total contract
such grants (accelerated amortisation). The stock compensation revenues and costs, revenue is recognized only to the extent
expense is determined based on the Companys estimate of of contract cost incurred for which recoverability is probable.
equity instruments that will eventually vest. When total cost estimates exceed revenues in an arrangement,
the estimated losses are recognized in the statement of income
(xiii) Provisions
in the period in which such losses become probable based on
Provisions are recognized when the Company has a present the current contract estimates.
obligation (legal or constructive) as a result of a past event, it is
Unbilled revenues represent cost and earnings in excess of
probable that an outflow of economic benefits will be required
billings as at the end of the reporting period. Unearned revenues
to settle the obligation and a reliable estimate can be made of
represent billing in excess of revenue recognized. Advance
the amount of the obligation.
payments received from customers for which no services have
The amount recognized as a provision is the best estimate of been rendered are presented as Advance from customers.
the consideration required to settle the present obligation at
C. Maintenance contracts
the end of the reporting period, taking into account the risks
and uncertainties surrounding the obligation. Revenue from maintenance contracts is recognized ratably over
the period of the contract using the percentage of completion
When some or all of the economic benefits required to settle a
method. When services are performed through an indefinite
provision are expected to be recovered from a third party, the
number of repetitive acts over a specified period of time, revenue is
receivable is recognized as an asset, if it is virtually certain that
recognized on a straight-line basis over the specified period unless
reimbursement will be received and the amount of the receivable
some other method better represents the stage of completion.
can be measured reliably.
In certain projects, a fixed quantum of service or output units is
Provisions for onerous contracts are recognized when the
agreed at a fixed price for a fixed term. In such contracts, revenue
expected benefits to be derived by the Company from a
is recognized with respect to the actual output achieved till
contract are lower than the unavoidable costs of meeting the
date as a percentage of total contractual output. Any residual
future obligations under the contract. Provisions for onerous
service unutilized by the customer is recognized as revenue on
contracts are measured at the present value of lower of the
completion of the term.
expected net cost of fulfilling the contract and the expected
cost of terminating the contract. b) Products
(xiv) Revenue Revenue from products are recognized when the significant risks
and rewards of ownership have been transferred to the buyer,
The Company derives revenue primarily from software
continuing managerial involvement usually associated with
development, maintenance of software/hardware and related
ownership and effective control have ceased, the amount of
services, business process services, sale of IT and other products.
revenue can be measured reliably, it is probable that economic
a) Services benefits associated with the transaction will flow to the Company
and the costs incurred or to be incurred in respect of the
The Company recognizes revenue when the significant terms of
transaction can be measured reliably.
the arrangement are enforceable, services have been delivered
and the collectability is reasonably assured. The method for c) Multiple element arrangements
recognizing revenues and costs depends on the nature of the
Revenue from contracts with multiple-element arrangements
services rendered:
are recognized using the guidance in IAS 18, Revenue. The
A. Time and materials contracts Company allocates the arrangement consideration to separately
identifiable components based on their relative fair values
Revenues and costs relating to time and materials contracts are
or on the residual method. Fair values are determined based
recognized as the related services are rendered.
on sale prices for the components when it is regularly sold
B. Fixed-price contracts separately, third-party prices for similar components or cost
plus an appropriate business-specific profit margin related to
Revenues from fixed-price contracts, including systems the relevant component.
development and integration contracts are recognized using
the percentage-of-completion method. Percentage of d) Others
completion is determined based on project costs incurred to The Company accounts for volume discounts and pricing
date as a percentage of total estimated project costs required incentives to customers by reducing the amount of revenue
to complete the project. The cost expended (or input) method recognized at the time of sale.
has been used to measure progress towards completion as
there is a direct relationship between input and productivity. Revenues are shown net of sales tax, value added tax,
If the Company does not have a sufficient basis to measure service tax and applicable discounts and allowances.
Revenue includes excise duty.

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Consolidated Financial Statements Under IFRS

The Company accrues the estimated cost of warranties at Deferred income tax assets are recognized to the extent it is
the time when the revenue is recognized. The accruals are probable that taxable profit will be available against which
based on the Companys historical experience of material the deductible temporary differences and the carry forward of
usage and service delivery costs. unused tax credits and unused tax losses can be utilized.
Costs that relate directly to a contract and incurred Deferred income tax liabilities are recognized for all taxable
in securing a contract are recognized as an asset and temporary differences except in respect of taxable temporary
amortized over the contract term. differences associated with investments in subsidiaries,
Contract expenses are recognised as expenses by reference associates and foreign branches where the timing of the reversal
to the stage of completion of contract activity at the end of the temporary difference can be controlled and it is probable
of the reporting period. that the temporary difference will not reverse in the foreseeable
future.
(xv) Finance expenses
The carrying amount of deferred income tax assets is reviewed
Finance expenses comprise interest cost on borrowings, at each reporting date and reduced to the extent that it is no
impairment losses recognized on financial assets, gains/(losses) longer probable that sufficient taxable profit will be available to
on translation or settlement of foreign currency borrowings and allow all or part of the deferred income tax asset to be utilized.
changes in fair value and gains/(losses) on settlement of related
derivative instruments. Borrowing costs that are not directly Deferred income tax assets and liabilities are measured at the
attributable to a qualifying asset are recognized in the statement tax rates that are expected to apply in the period when the asset
of income using the effective interest method. is realized or the liability is settled, based on tax rates (and tax
laws) that have been enacted or substantively enacted at the
(xvi) Finance and other income reporting date.
Finance and other income comprises interest income on The Company offsets deferred income tax assets and liabilities,
deposits, dividend income and gains/(losses) on disposal of where it has a legally enforceable right to offset current tax assets
available-for-sale financial assets. Interest income is recognized against current tax liabilities, and they relate to taxes levied by
using the effective interest method. Dividend income is the same taxation authority on either the same taxable entity, or
recognized when the right to receive payment is established. on different taxable entities where there is an intention to settle
(xvii) Income tax the current tax liabilities and assets on anet basis or their tax
assets and liabilities will be realized simultaneously.
Income tax comprises current and deferred tax. Income tax
expense is recognized in the statement of income except to (xviii) Earnings per share
the extent it relates to a business combination, or items directly Basic earnings per share is computed using the weighted average
recognized in equity or in other comprehensive income. number of equity shares outstanding during the period adjusted
a) Current income tax for treasury shares held. Diluted earnings per share is computed
using the weighted-average number of equity and dilutive
Current income tax for the current and prior periods are equivalent shares outstanding during the period, using the
measured at the amount expected to be recovered from or treasury stock method for options and warrants, except where
paid to the taxation authorities based on the taxable income the results would be anti-dilutive.
for the period. The tax rates and tax laws used to compute the
current tax amount are those that are enacted or substantively (xix) Discontinued operations
enacted as at the reporting date and applicable for the period. A discontinued operation is a component of the Companys
The Company offsets current tax assets and current tax liabilities, business that represents a separate line of business that has
where it has a legally enforceable right to set off the recognized been disposed off or is held for sale, or is a subsidiary acquired
amounts and where it intends either to settle on a net basis, or exclusively with a view to resale. Classification as a discontinued
to realize the asset and liability simultaneously. operation occurs upon the earlier of disposal or when the
b) Deferred income tax operation meets the criteria to be classified as held for sale.

Deferred income tax is recognized using the balance sheet New Accounting standards adopted by the Company:
approach. Deferred income tax assets and liabilities are The Company has, with effect from April1, 2015, adopted the
recognized for deductible and taxable temporary differences Amendments to IAS 19 Employee Benefitsclarifications on
arising between the tax base of assets and liabilities and assessment of existence of deep market based on currency instead
their carrying amount in financial statements, except when of geography. The adoption of this amendment did not have
the deferred income tax arises from the initial recognition of any material impact on the consolidated financial statements
goodwill or an asset or liability in a transaction that is not a of the Company.
business combination and affects neither accounting nor taxable
profits or loss at the time of the transaction.

232 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

New accounting standards not yet adopted: IFRS 15 Revenue from Contracts with Customers.
A number of new standards, amendments to standards and IFRS 15 supersedes all existing revenue requirements in IFRS
interpretations are not yet effective for annual periods beginning (IAS 11 Construction Contracts, IAS 18 Revenue and related
after 1 April 2015, and have not been applied in preparing interpretations). According to the new standard, revenue is
these consolidated financial statements. New standards, recognized to depict the transfer of promised goods or services
amendments to standards and interpretations that could have to a customer in an amount that reflects the consideration to
potential impact on the consolidated financial statements of which the entity expects to be entitled in exchange for those
the Company are: goods or services. IFRS 15 establishes a five step model that will
apply to revenue earned from a contract with a customer (with
IFRS 9 Financial instruments limited exceptions), regardless of the type of revenue transaction
or the industry. Extensive disclosures will be required, including
In July 2014, the IASB completed its project to replace IAS
disaggregation of total revenue; information about performance
39, Financial Instruments: Recognition and Measurement by
obligation; changes in contract asset and liability account
publishing the final version of IFRS 9: Financial Instruments.
balances between periods and key judgments and estimates.
IFRS 9 introduces a single approach for the classification and
The standard permits the use of either the retrospective or
measurement of financial assets according to their cash flow cumulative effect transition method. In September 2015, the
characteristics and the business model they are managed in, IASB issued an amendment to IFRS 15, deferring the adoption
and provides a new impairment model based on expected of the standard to periods beginning on or after January1, 2018.
credit losses. IFRS 9 also includes new guidance regarding The Company is currently assessing the impact of adopting IFRS
the application of hedge accounting to better reflect an 15 on the Companys consolidated financial statements.
entitys risk management activities especially with regard to
managing non-financial risks. The new standard is effective IFRS 16 Leases
for annual reporting periods beginning on or after January1, On January13, 2016, the International Accounting Standards
2018, while early application is permitted. The Company Board issued the final version of IFRS 16, Leases. IFRS 16 will
has elected to early adopt IFRS 9 effective April1, 2016. The replace the existing leases Standard, IAS 17 Leases, and related
Company does not expect a significant impact on its balance interpretations. The standard sets out the principles for the
sheet or equity on applying the classification, measurement recognition, measurement, presentation and disclosure of
and presentation requirements of IFRS 9. It expects to leases. IFRS 16 introduces a single lessee accounting model and
continue measuring at fair value all financial assets currently requires a lessee to recognise assets and liabilities for all leases
held at fair value. The Company believes that all existing hedge with a term of more than 12 months, unless the underlying asset
relationships that are currently designated as effective hedging is of low value. The Standard also contains enhanced disclosure
relationships will still qualify for hedge accounting under IFRS 9. requirements for lessees. The effective date for adoption of
As IFRS 9 does not change the general principles of how an entity IFRS 16 is annual periods beginning on or after January1, 2019,
accounts for effective hedges, the Company does not expect a though early adoption is permitted for companies applying
significant impact as a result of applying IFRS 9. IFRS 15 Revenue from Contracts with Customers. The Company
is currently assessing the impact of adopting IFRS 16 on the
Companys consolidated financial statements.

Wipro Limited 233

Consolidated Financial Statements Under IFRS

4. Property, plant and equipment

Furniture
Plant and fixturesand
Land Buildings machinery* equipment Vehicles Total
Cost:
As at April 1, 2014 ` 3,687 ` 24,062 ` 72,310 ` 12,347 ` 966 ` 113,372
Translation adjustment (2) 50 122 (120) (22) 28
Additions/adjustments 446 11,978 873 36 13,333
Acquisition through business combinations 89 871 120 1 1,081
Disposals / adjustments (132) (5,687) (522) (151) (6,492)
As at March31, 2015 ` 3,685 ` 24,515 ` 79,594 ` 12,698 ` 830 ` 121,322
Accumulated depreciation/impairment:
As at April 1, 2014 ` ` 3,815 ` 52,315 ` 9,535 ` 944 ` 66,609
Translation adjustment 36 243 (71) 2 210
Depreciation 755 9,220 1,430 12 11,417
Disposals / adjustments (93) (5,149) (258) (149) (5,649)
As at March31, 2015 ` ` 4,513 ` 56,629 ` 10,636 ` 809 ` 72,587
Capital work-in-progress 5,471
Net carrying value as at March31, 2015 ` 54,206
Cost: ` ` ` ` ` `
As at April1, 2015 ` 3,685 ` 24,515 ` 79,594 ` 12,698 ` 830 ` 121,322
Translation adjustment 10 209 1,720 79 (1) 2,017
Additions/adjustments 1,799 15,424 1,791 62 19,076
Acquisition through business combination 105 4,462 162 34 4,763
Disposals / adjustments (539) (1,620) (615) (336) (3,110)
As at March31, 2016 ` 3,695 ` 26,089 ` 99,580 ` 14,115 ` 589 ` 144,068
Accumulated depreciation/impairment:
As at April1, 2015 ` ` 4,513 ` 56,629 ` 10,636 ` 809 ` 72,587
Translation adjustment 73 1,113 80 1,266
Depreciation 861 11,381 1,094 19 13,355
Disposals / adjustments (103) (962) (492) (324) (1,881)
As at March31, 2016 ` ` 5,344 ` 68,161 ` 11,318 ` 504 ` 85,327
Capital work-in-progress 6,211
Net carrying value as at March31, 2016 ` 64,952
* Including net carrying value of computer equipment and software amounting to ` 12,682 and ` 20,365 as at March 31, 2015 and
2016, respectively.
Interest capitalized by the Company was ` 105 and ` 73 for the year ended March31, 2015 and 2016, respectively. The capitalization
rate used to determine the amount of borrowing cost capitalized for the year ended March31, 2015 and 2016 are 8.18% and 4.80%,
respectively.

234 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

5. Goodwill and Intangible assets Goodwillis tested for impairment at least annually in accordance
with the Companys procedure for determining the recoverable
The movement in goodwill balance is given below:
value of such assets. For the purpose of impairment testing,
YearendedMarch31, goodwill is allocated to a CGU representing the lowest level
within the Group at which goodwill is monitored for internal
2015 2016
management purposes, and which is not higher than the
Balance at the beginning of the year ` 63,422 ` 68,078 Companys operating segment.
Translation adjustment 1,098 3,421
Acquisition through business The recoverable amount of the CGU within IT Services segment is
combination, net 3,558 30,492 determined on the basis of Fair Value Less Cost To Sell (FVLCTS).
The FVLCTS of the CGU is determined based on the market
Balance at the end of the year ` 68,078 ` 101,991
capitalization approach, using the turnover and earnings
Acquisition through business combinations for the year multiples derived from observable market data. The fair value
ended March 31, 2016, includes goodwill recognized on the measurement is categorised as a level 2 fair value based on the
acquisitions of Designit AS, Cellent AG and HPH Holdings Corp. inputs in the valuation techniques used.
(HealthPlan Services). Also refer note 6 to the consolidated
For the year ended March 31, 2015, the carrying value of
financial statements.
goodwill allocated to the CGU within IT Products segment is not
The Company is organized by two operating segments: IT significant. The recoverable value of this CGU was determined
Services and IT Products. using value-in-use. The VIU is determined based on discounted
cash flow projections. Key assumptions on which the Company
Goodwill as at March31, 2015 and 2016 has been allocated to
had based its determination of VIU include estimated cash flows,
the following operating segments:
terminal value and discount rates.
As at March31, Value-in-use is calculated using after tax assumptions. The use
Segments
2015 2016 of after tax assumptions does not result in a value-in-use that
IT Services ` 67,394 ` 101,991 is materially different from the value-in-use that would result if
IT Products 684 the calculation was performed using before tax assumptions. The
Total ` 68,078 ` 101,991 before tax discount rate is determined based on the value-in-use
derived from the use of after tax assumptions.
Effective April1, 2015, the carrying value of goodwill allocated
to the CGU within IT Products segment has been reallocated Yearended
to the Global Media and Telecom (GMT) CGU within IT Services Assumptions March31,
segment, in line with a change in method of evaluating the 2015
underlying assets performance. Terminal value long-term growth rate 5%
For the purpose of impairment testing, goodwill relating to IT After tax discount rate 16.5%
Services segment has been allocated to the CGUs as follows: Before tax discount rate 24.9%

As at March31, Based on the above, no impairment was identified as of

March31, 2015 and 2016 as the recoverable value of the CGUs
CGUs 2015 2016
exceeded the carrying value. Further, none of the CGUs tested
Banking Financial Services and
for impairment as of March 31, 2015 and 2016 were at risk
Insurance (BFSI) ` 14,015 ` 15,639
of impairment. An analysis of the calculations sensitivity to
Healthcare and Life Sciences (HLS) 14,080 38,096 a change in the key parameters (revenue growth, operating
Retail, Consumer, Transport and margin, discount rate and long-term growth rate) based on
Government (RCTG) 9,426 10,712 reasonably probable assumptions, did not identify any probable
Energy, Natural Resources and Utilities scenarios where the CGUs recoverable amount would fall below
(ENU) 15,768 16,550 its carrying amount.
Manufacturing and High-Tech (MFG) 11,644 16,242
Global Media and Telecom (GMT) 2,461 4,752
Total ` 67,394 ` 101,991

Wipro Limited 235

Consolidated Financial Statements Under IFRS

The movement in intangible assets is given below:

Intangible assets
Customer related Marketing related Total
Cost:
As at April1, 2014 ` 3,404 ` 1,100 ` 4,504
Translation adjustment (1,015) (95) (1,110)
Acquisition through business combinations 8,228 8,228
Disposals/Adjustments (100) (100)
As at March31, 2015 ` 10,617 ` 905 ` 11,522
Accumulated amortisation and impairment:
As at April1, 2014 ` 1,892 ` 676 ` 2,568
Translation adjustment (104) (104)
Amortisation and impairment 1,044 165 1,209
Disposals/Adjustments (82) (82)
As at March31, 2015 ` 2,936 ` 655 ` 3,591
Net carrying value as at March31, 2015 ` 7,681 ` 250 ` 7,931
Cost:
As at April1, 2015 ` 10,617 ` 905 ` 11,522
Translation adjustment 292 120 412
Additions 189 189
Acquisition through business combinations 7,451 1,373 8,824
As at March31, 2016 ` 18,360 ` 2,587 ` 20,947
Accumulated amortisation and impairment:
As at April1, 2015 ` 2,936 ` 655 ` 3,591
Translation adjustment 70 70
Amortisation and impairment 1,228 217 1,445
As at March31, 2016 ` 4,164 ` 942 ` 5,106
Net carrying value as at March31, 2016 ` 14,196 ` 1,645 ` 15,841

Amortisation expense on intangible assets is included in selling 6. Business combination

and marketing expenses in the consolidated statements of
Summary of acquisition during the year ended March31,
income.
2014 is given below:
Acquisition through business combinations for the year ended
March31, 2016, includes intangible assets recognized on the Opus Capital Markets Consultants LLC
acquisitions of Designit AS, Cellent AG and HealthPlan Services. On January14, 2014, the Company had obtained control of Opus
Also refer note 6 to the consolidated financial statements. Capital Markets Consultants LLC (Opus) by acquiring 100% of
As of March 31, 2016, the estimated remaining amortisation its share capital. Opus is a US-based provider of mortgage due
period for intangibles acquired on acquisition are as follows: diligence and risk management services. The acquisition has
strengthened Wipros mortgage solutions and complemented
Acquisition Estimatedremaining our existing offerings in mortgage origination, servicing and
amortisation period secondary market.
Global oil and gas information 4.25 5.25 years
The acquisition was executed through a share purchase agreement
technology practice of the
for a consideration of ` 4,589 (US$ 75 million) which included
Commercial Business Services
a deferred earn-out component of ` 1,285 (US$ 21 million),
Business Unit of Science Applications
dependent on achievement of revenues and earnings targets over a
International Corporation
period of 3 years. This earn-out liability was fair valued at ` 782 and
Promax Applications Group 6.25years recorded as part of preliminary purchase price allocation.
Opus Capital Markets Consultants LLC 2.75 4.75years
ATCO I-Tek 8.50years During the year ended March31, 2015, the Company concluded
the fair value adjustments of the assets acquired and liabilities
Designit AS 2.25 4.25years
assumed on acquisition. Consequently, the fair value of earn-
Cellent AG 4.75 6.75years out liability was recorded at ` 589. Comparatives have not been
HealthPlan Services 3 7years retrospectively revised as the amounts are not material.

236 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

The following table presents the allocation of purchase price:

Pre-acquisition Fair value Purchase price

Description carrying amount adjustments allocated
Net assets ` 400 ` ` 400
Customer related intangibles 234 234
Non-compete arrangement 216 216
Deferred tax liabilities on intangibles assets (133) (133)
Total 400 317 717
Goodwill 2,810
Total purchase price ` 3,527

The goodwill of ` 2,810 comprises value of expected synergies and ` 78,748 respectively. The pro-forma amounts are not
arising from the acquisition. Goodwill is not expected to be necessarily indicative of the results that would have occurred
deductible for income tax purposes. if the acquisition had occurred on date indicated or that may
result in the future.
During the year ended March31, 2015, the fair value of earn-
out liability was determined to be ` 144 as a result of changes Summary of acquisition during the year ended March31,
in estimates of revenue and earnings over the earn-out period. 2015 is given below:
The revision of the estimates has inter alia resulted in reduction
ATCO I-Tek Inc.
in the carrying value of intangibles recognized on acquisition.
Accordingly, a net gain of ` 470 has been recorded in the On August 15, 2014, the Company obtained control of ATCO
statement of income. I-Tek Inc, a Canadian entity, by acquiring 100% of its share
capital and certain assets of IT services business of ATCO I-Tek
The fair value of earn-out consideration was estimated by
Australia (hereafter the acquisitions are collectively referred to
applying the Discounted Cash Flow approach. The fair value
as acquisition of ATCO I-Tek) for an all-cash consideration of `
estimates are based on discount rate of 7% and probability
11,071 (Canadian Dollars 198 million) post conclusion of closing
adjusted revenue and earnings estimates.
conditions and fair value adjustments. ATCO I-Tek provides IT
If the acquisition had occurred on April1, 2013, management services to ATCO Group. The acquisition will strengthen Wipros
estimates that consolidated revenue and profit after taxes for IT services delivery model in North America and Australia.
the year ended March 31, 2014 would have been ` 436,563

The following table presents the allocation of purchase price:

Pre-acquisition Fair value Purchase price

Description carrying amount adjustments allocated
Net assets ` 1,330 ` (278) ` 1,052
Customer related intangibles 8,228 8,228
Deferred tax liabilities on intangibles assets (2,017) (2,017)
Total 1,300 5,933 7,263
Goodwill 3,808
Total purchase price ` 11,071

The goodwill of ` 3,808 comprises value of expected synergies Summary of acquisitions during the year ended March31,
arising from the acquisition. Goodwill is not deductible for 2016 is given below:
income tax purposes.
Designit AS
If the acquisition had occurred on April1, 2014, management
On August6, 2015, the Company obtained control of Designit
estimates that consolidated revenue and profit after taxes for
AS (Designit) by acquiring 100% of its share capital. Designit
the year ended March 31, 2015 would have been ` 472,142
is a Denmark based global strategic design firm specializing
and ` 87,503 respectively. The pro-forma amounts are not
in designing transformative product-service experiences. The
necessarily indicative of the results that would have occurred
acquisition will strengthen the Companys digital offerings,
if the acquisition had occurred on date indicated or that may
combining engineering and transformative technology with
result in the future.
human centered-design methods.

Wipro Limited 237

Consolidated Financial Statements Under IFRS

The acquisition was executed through a share purchase value of the earn-out liability was estimated by applying the
agreement for a consideration of ` 6,540 (EUR 93 million) discounted cash flow approach considering discount rate of 13%
which includes a deferred earn-out component of ` 2,092 (EUR and probability adjusted revenue and earnings estimates. This
30 million), which is linked to achievement of revenues and earn-out liability was fair valued at ` 1,287million and recorded
earnings over a period of 3 years ending June30, 2018. The fair as part of purchase price allocation.

The following table presents the allocation of purchase price:

Pre-acquisition Fair value Purchase price

Description carrying amount adjustments allocated
Net assets ` 586 ` ` 586
Customer related intangibles 597 597
Brand 638 638
Non-compete agreement 103 103
Deferred tax liabilities on intangibles assets (290) (290)
Total ` 586 ` 1,048 1,634
Goodwill 4,046
Total purchase price ` 5,680

Net assets acquired include ` 359 of cash and cash equivalents Cellent AG
and trade receivables valued at ` 392.
On January5, 2016, the Company obtained control of Cellent AG
The goodwill of ` 4,046 comprises value of acquired workforce (Cellent) by acquiring 100% of its share capital. Cellent is an IT
and expected synergies arising from the acquisition. Goodwill consulting and software services company offering IT solutions
is not deductible for income tax purposes. and services to customers in Germany, Switzerland and Austria.
This acquisition is expected to provide Wipro with scale and
During the current period, the Company concluded the fair value
customer relationships, in the Manufacturing and Automotive
adjustments of the assets acquired and liabilities assumed on
domains in Germany, Switzerland and Austria region.
acquisition.
The acquisition was executed through a share purchase
The pro-forma effects of this acquisition on the Companys results
agreement for a consideration of ` 5,800 (EUR 80.4 million).
were not material.

The following table presents the provisional allocation of purchase price:

Pre-acquisition Fair value Purchase price

Description carrying amount adjustments allocated
Net assets ` 852 ` ` 852
Customer related intangibles 1,001 1,001
Brand 317 317
Deferred tax liabilities on intangibles assets (391) (391)
Total ` 852 ` 927 1,779
Goodwill 4,021
Total purchase price ` 5,800

Net assets acquired include ` 367 of cash and cash equivalents The pro-forma effects of this acquisition on the Companys results
and trade receivables valued at ` 1,389. were not material.
The goodwill of ` 4,021 comprises value of acquired workforce HealthPlan Services
and expected synergies arising from the acquisition. Goodwill
On February 29, 2016, the Company obtained full control
is not deductible for income tax purposes.
of HPH Holdings Corp. (HealthPlan Services). HealthPlan
The purchase consideration has been allocated on a provisional Services offers market-leading technology platforms and a fully
basis based on managements estimates. The Company is in the integrated Business Process as a Service (BPaaS) solution to
process of making a final determination of the fair value of assets Health Insurance companies (Payers) in the individual, group and
and liabilities. Finalization of the purchase price allocation may ancillary markets. HealthPlan Services provides U.S. Payers with
result in certain adjustments to the above allocation. a diversified portfolio of health insurance products delivered
through its proprietary technology platform.

238 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

The acquisition was consummated for a consideration of was estimated by applying the discounted cash flow approach
` 31,069 (USD 454.1 million) which includes a deferred earn- considering discount rate of 14.1% and probability adjusted
out component of ` 1,115 (USD 16.3 million), which is linked to revenue and earnings estimates. This earn-out liability was fair
achievement of revenues and earnings over a period of 3 years valued at ` 536million (USD 7.8 million) and recorded as part
ending March31, 2019. The fair value of the earn-out liability of preliminary purchase price allocation.

The following table presents the provisional allocation of purchase price:

Pre-acquisition Fair value Purchase price

Description carrying amount adjustments allocated
Net assets ` 368 ` 1,604 ` 1,972
Technology platform 1,087 1,904 2,991
Customer related intangibles 5,853 5,853
Non-compete agreement 315 315
Deferred tax liabilities on intangibles assets (3,066) (3,066)
Total ` 1,455 ` 6,610 8,065
Goodwill 22,425
Total purchase price ` 30,490

Net assets acquired include ` 47 of cash and cash equivalents have been ` 526,671 and the profit after taxes would have been
and trade receivables valued at ` 2,449. ` 88,161 for twelve months ended March31, 2016. The pro-forma
amounts are not necessarily indicative of the results that would
The goodwill of ` 22,425 comprises value of acquired workforce have occurred if the acquisition had occurred on date indicated
and expected synergies arising from the acquisition. Goodwill is or that may result in the future.
not deductible for income tax purposes.
Viteos Group
The purchase consideration has been allocated on a provisional
basis based on managements estimates. The Company is in the On December23, 2015, the Company entered into an agreement
process of making a final determination of the fair value of assets to acquire Viteos Group, a Business Process as a Service (BPaaS)
and liabilities. Finalization of the purchase price allocation may provider for the alternative investment management industry
result in certain adjustments to the above allocation. for a purchase consideration of USD 130 million. The acquisition
is subject to customary closing conditions and regulatory
If the acquisition had occurred on April1, 2015, management approvals and is expected to be consummated in the quarter
estimates that consolidated revenue for the Company would ending June30, 2016.

7. Available for sale investments

Available for sale investments consists of the following:

As at March31, 2015 As at March31, 2016

Cost* Gross gain Gross loss Fair Cost* Gross gain Gross loss Fair
recognized recognized Value recognized recognized Value
directly in directly in directly in directly in
equity equity equity equity
Investment in liquid and
short-term mutual funds
and others ` 56,437 ` 1,340 ` (2) ` 57,775 ` 130,723 ` 2,148 ` (13) ` 132,858
Certificate of deposits 4,993 4,993
Total ` 56,437 ` 1,340 ` (2) ` 57,775 ` 135,716 ` 2,148 ` (13) ` 137,851
Current ` 53,908 132,944
Non current 3,867 4,907
* Available for sale investments include investments amounting to ` Nil and ` 109 as of March31, 2015 and 2016, respectively,
pledged as margin money deposit for entering into currency future contracts. The counter-parties have an obligation to return the
securities to the Company upon settling all the open currency future contracts.

Wipro Limited 239

Consolidated Financial Statements Under IFRS

8. Trade receivables 10. Cash and cash equivalents

As at March31, Cash and cash equivalents as of March 31, 2014, 2015 and 2016
2015 2016 consist of cash and balances on deposit with banks. Cash and
Trade receivables ` 97,041 ` 109,685 cash equivalents consist of the following:
Allowance for doubtful accounts
As at March31,
receivable (5,510) (7,305)
` 91,531 ` 102,380 2014 2015 2016
The activity in the allowance for doubtful accounts receivable Cash and bank balances ` 45,666 ` 47,198 ` 63,518
is given below: Demand deposits with
YearendedMarch31, banks(1) 68,535 111,742 35,531
2015 2016 ` 114,201 ` 158,940 ` 99,049
Balance at the beginning of the
These deposits can be withdrawn by the Company at any time
(1)
year ` 4,585 ` 5,510
without prior notice and without any penalty on the principal.
Additions during the year, net 925 1,843
Uncollectable receivables charged Demand deposits with banks include deposits in lien with banks
against allowance (48) amounting to ` 3 (March 31, 2015: Nil).
Balance at the end of the year ` 5,510 ` 7,305 Cash and cash equivalents consist of the following for the
9. Inventories purpose of the cash flow statement:
Inventories consist of the following:
As at March31,
As at March31,
2015 2016 2014 2015 2016

Stores and spare parts ` 932 ` 871 Cash and cash equivalents
Raw materials and components 5 2 (as above). ` 114,201 ` 158,940 ` 99,049
Finished goods and traded goods 3,912 4,517 Bank overdrafts (227) (657)
` 4,849 ` 5,390
` 114,201 ` 158,713 ` 98,392

11. Other assets

As at March31,
2015 2016
Current
Inter corporate and term deposits(1) (2) ` 38,500 ` 69,439
Prepaid expenses and deposits 11,325 14,518
Due from officers and employees 3,488 3,780
Finance lease receivables 3,461 2,034
Advance to suppliers 2,430 1,507
Deferred contract costs 3,610 3,720
Interest receivable 5,290 4,223
Balance with excise, customs and other authorities 1,786 1,814
Others (3) 3,469 3,033
` 73,359 ` 104,068
Non current
Prepaid expenses including rentals for leasehold land and deposits ` 6,695 8,534
Finance lease receivables 2,899 2,964
Deferred contract costs 4,445 3,807
Others 330 523
` 14,369 ` 15,828
Total ` 87,728 ` 119,896
(1)
Such deposits earn a fixed rate of interest and mature within 12 months.
(2)
Term deposits include deposits amounting to ` 300 (March 31, 2015: ` 300) which are lien marked as margin money deposits.
(3)
Others include ` 418 (March 31, 2015: ` 400) representing assets held for sale.

240 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Finance lease receivables

Finance lease receivables consist of assets that are leased to customers for periods ranging from 1 to 7 years, with lease payments
due in monthly or quarterly installments. Details of finance lease receivables are given below:

Presentvalueofminimum
Minimum lease payment
lease payment
As at March31, As at March31,
2015 2016 2015 2016
Not later than one year ` 3,685 ` 2,222 ` 3,419 ` 2,034
Later than one year but not later than five years 3,108 3,127 2,826 2,906
Later than five years 73 57
Unguaranteed residual values 62 62 58 58
Gross investment in lease 6,928 5,411 6,360 4,998
Less: Unearned finance income (568) (413)
Present value of minimum lease payment receivable ` 6,360 ` 4,998 ` 6,360 ` 4,998
Included in the financial statements as follows:
Current finance lease receivables ` 3,461 ` 2,034
Non-current finance lease receivables 2,899 2,964

12. Loans and borrowings Company requires consent of the lender and compliance with
certain financial covenants. Significant portion of these lines
Short-term loans and borrowings
of credit are revolving credit facilities and floating rate foreign
The Company had short-term borrowings including bank currency loans, renewable on a periodic basis. Significant portion
overdrafts amounting to ` 64,443 and ` 102,667 as at March31, of these facilities bear floating rates of interest, referenced to
2015 and 2016, respectively. The principal source of Short-term LIBOR and a spread, determined based on market conditions.
borrowings from banks as of March31, 2016 primarily consists
The Company has non-fund based revolving credit facilities
of lines of credit of approximately ` 10,399, U.S.Dollar (U.S.$)
in various currencies equivalent to ` 39,511 and ` 41,740, as
1,698million, Canadian Dollar (CAD) 150million, EURO 81million
of March31, 2015 and 2016, respectively, towards operational
and United Kingdom Pound sterling (GBP) 20 million from
requirements that can be used for the issuance of letters of credit
bankers for working capital requirements and other short term
and bank guarantees. As of March31, 2015 and 2016, an amount
needs. As of March31, 2016, the Company has unutilized lines
of ` 18,277 and ` 15,519 respectively, was unutilized out of
of credit aggregating ` 9,930, U.S.$ 359million, GBP 20million
these non-fund based facilities.
and CAD 5 million. To utilize these unused lines of credit, the

Long-term loans and borrowings

A summary of long- term loans and borrowings is as follows:

As at March31, 2015 As at March31, 2016

Currency Foreign Indian Foreign Indian Interest Final
currency Rupee currency Rupee rate maturity
in in
millions millions
Unsecured external commercial borrowing
U.S. Dollar 150 ` 9,375 150 ` 9,938 LIBOR+1.25 % June2018
Unsecured term loan
Indian Rupee NA 217 NA 666 0-15% July 2020
Saudi Arabian Riyal (SAR) 169 2,987 SIBOR+1.50 % April 2018
` 9,592 ` 13,591
Obligations under finance leases 4,878 8,963
` 14,470 ` 22,554
Current portion of long term loans and borrowings ` 1,763 ` 5,193
Non-current portion of long term loans and
borrowings 12,707 17,361

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Consolidated Financial Statements Under IFRS

The Company has entered into interest rate swap (IRS) in A portion of the above short-term loans and borrowings,
connection with the unsecured external commercial borrowing. other secured term loans and obligation under finance leases
aggregating to ` 8,694 and ` 8,963 as at March31, 2015 and 2016,
The contract governing the Companys unsecured external
respectively, are secured by inventories, accounts receivable,
commercial borrowing contain certain covenants that limit
certain property, plant and equipment and underlying assets.
future borrowings and payments towards acquisitions in a
financial year. The terms of the other secured and unsecured Interest expense was ` 768 and ` 1,410 for the year ended
loans and borrowings also contain certain restrictive covenants March31, 2015 and 2016, respectively.
primarily requiring the Company to maintain certain financial
The following is a schedule of future minimum lease payments
ratios. As of March 31, 2016, the Company has met all the
under finance leases, together with the present value of
covenants under these arrangements.
minimum lease payments as of March31, 2015 and 2016:

Minimumleasepayments Presentvalueofminimum
lease payments
As at March31, As at March31,
2015 2016 2015 2016
Not later than one year ` 1,843 ` 3,429 ` 1,660 ` 3,133
Later than one year but not later than five years 3,379 6,112 3,218 5,830
Total minimum lease payments 5,222 9,541 4,878 8,963
Less: Amount representing interest (344) (578)
Present value of minimum lease payments ` 4,878 ` 8,963 ` 4,878 ` 8,963
Included in the financial statements as follows:
Current finance lease payables ` 1,660 ` 3,133
Non-current finance lease payables 3,218 5,830

13. Trade payables and accrued expenses

Trade payables and accrued expenses consist of the following:

As at March31, As at March31,
2015 2016 2015 2016
Trade payables ` 18,845 ` 23,447 Provisions:
Accrued expenses 39,900 44,740 Current:
` 58,745 ` 68,187 Provision for warranty ` 306 ` 388
14. Other liabilities and provisions Others 1,211 874
` 1,517 ` 1,262
As at March31, Non-current:
2015 2016
Provision for warranty ` 5 ` 14
Other liabilities:
Total ` 1,522 ` 1,276
Current:
Statutory and other liabilities ` 3,530 ` 3,871 Provision for warranty represents cost associated with providing
sales support services which are accrued at the time of
Employee benefit obligations 4,802 5,494
recognition of revenues and are expected to be utilized over
Advance from customers 2,200 2,283 a period of 1 to 2 years. Other provisions primarily include
Others 1,691 2,173 provisions for indirect tax related contingencies and litigations.
` 12,223 ` 13,821 The timing of cash outflows in respect of such provision cannot
Non-current: be reasonably determined.
Employee benefit obligations ` 3,062 ` 4,618
Others 596 2,607
` 3,658 ` 7,225
Total ` 15,881 ` 21,046

242 Annual Report 2015-16

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A summary of activity for provision for warranty and other provisions is as follows:

Year ended March31, 2015 Year ended March31, 2016

Provision Others Total Provision Others Total
for for
warranty warranty
Balance at the beginning of the year ` 346 ` 1,030 ` 1,376 ` 311 ` 1,211 ` 1,522
Additional provision during the year 350 188 538 451 82 533
Provision used during the year (385) (7) (392) (360) (419) (779)
Balance at the end of the year ` 311 ` 1,211 ` 1,522 ` 402 ` 874 ` 1,276

15. Financial instruments Offsetting financial assets and liabilities

Financial assets and liabilities (Carrying value/Fair value): The following table contains information on financial assets and
liabilities subject to offsetting:
As at March31,
Financial assets
2015 2016
Assets: Gross
amounts of
Trade receivables ` 91,531 ` 102,380 recognized Netamounts
Gross financial of financial
Unbilled revenues 42,338 48,273
amountsof liabilitiesset assets
Cash and cash equivalents 158,940 99,049 recognized off in the presented in
financial balance thebalance
Available for sale financial investments 57,775 137,851 Loans and receivables assets sheet sheet
Derivative assets 5,813 5,935 As at March31, 2015 352,191 (3,084) 349,107
Other assets 56,298 86,245 As at March31, 2016 339,457 (3,510) 335,947

Total ` 412,695 ` 479,733 Financial liabilities

Liabilities: Gross
Loans and borrowings ` 78,913 ` 125,221 amountsof
recognized Netamounts
Trade payables and accrued Gross financial of financial
expenses 57,793 66,810 amountsof assets set liabilities
recognized off in the presented in
Derivative liabilities 824 2,459 Trade and other financial balance the balance
Other liabilities 1,023 3,460 payables liabilities sheet sheet
As at March31, 2015 61,900 (3,084) 58,816
Total ` 138,553 ` 197,950
As at March31, 2016 73,780 (3,510) 70,270

For the financial assets and liabilities subject to offsetting or

By Category (Carrying value/Fair value): similar arrangements, each agreement between the Company
and the counterparty allows for net settlement of the relevant
As at March31, financial assets and liabilities when both elect to settle on a net
2015 2016 basis. In the absence of such an election, financial assets and
Assets: liabilities will be settled on a gross basis.
Loans and receivables ` 349,107 ` 335,947 Fair value
Derivative assets 5,813 5,935 The fair value of cash and cash equivalents, trade receivables,
Available for sale financial assets 57,775 137,851 unbilled revenues, trade payables, current financial liabilities and
Total ` 412,695 ` 479,733 borrowings approximate their carrying amount largely due to
the short-term nature of these instruments. A substantial portion
Liabilities: of the Companys long-term debt has been contracted at floating
Financial liabilities at amortized cost ` 78,913 ` 125,221 rates of interest, which are reset at short intervals. Accordingly,
Trade and other payables 58,816 70,270 the carrying value of such long-term debt approximates fair
Derivative liabilities 824 2,459 value. Further, finance lease receivables that are overdue are
periodically evaluated based on individual credit worthiness
Total ` 138,553 ` 197,950 of customers. Based on this evaluation, the Company records

Wipro Limited 243

Consolidated Financial Statements Under IFRS

allowance for estimated losses on these receivables. As of Fair value hierarchy

March31, 2015 and 2016, the carrying value of such receivables,
net of allowances approximates the fair value. Level 1 Quoted prices (unadjusted) in active markets for
identical assets or liabilities.
Investments in liquid and short-term mutual funds, which are
classified as available-for-sale are measured using quoted market Level 2 Inputs other than quoted prices included within Level
prices at the reporting date multiplied by the quantity held.Fair 1 that are observable for the asset or liability, either directly (i.e.
value of investments in certificate of deposits, classified as as prices) or indirectly (i.e. derived from prices).
available for sale is determined using observable market inputs.
Level 3 Inputs for the assets or liabilities that are not based on
The fair value of derivative financial instruments is determined observable market data (unobservable inputs)
based on observable market inputs including currency spot and
forward rates, yield curves, currency volatility etc.

The following table presents fair value hierarchy of assets and liabilities measured at fair value on a recurring basis:

As at March31, 2015 As at March31, 2016

Particulars Total Fair value measurements at Total Fair value measurements at
reporting date using reporting date using
Level 1 Level 2 Level3 Level1 Level2 Level3
Assets
Derivative instruments
- Cash flow hedges ` 4,237 ` ` 4,237 ` ` 3,072 ` ` 3,072 `
- Net investment hedges 140 140
- Others 1,436 912 524 2,863 2,305 558
Available for sale financial assets:
- Investment in liquid and short-term
mutual funds 10,202 10,202 10,578 10,578
- Investment in certificate of deposit,
and other investments 43,706 2,046 41,660 122,366 1,094 121,272
- Investment in equity instruments 3,867 3,867 4,907 4,907
Liabilities
Derivative instruments
- Cash flow hedges (80) (80) (706) (706)
- Net investment hedges (264) (264)
- Others (480) (480) (1,753) (1,753)
Contingent consideration (110) (110) (2,251) (2,251)

The following methods and assumptions were used to estimate of counterparties, foreign exchange spot and forward rates,
the fair value of the level 2 financial instruments included in the interest rate curves and forward rate curves of the underlying.
above table: As at March31, 2016, the changes in counterparty credit risk
had no material effect on the hedge effectiveness assessment
Derivative instruments (assets and liabilities): The Company
for derivatives designated in hedge relationships and other
enters into derivative financial instruments with various
financial instruments recognized at fair value.
counter-parties, primarily banks with investment grade credit
ratings. Derivatives valued using valuation techniques with Available for sale investments (Investment in certificate of
market observable inputs are mainly interest rate swaps, foreign deposits and commercial papers): Fair value of available-for-sale
exchange forward contracts and foreign exchange option financial assets is derived based on the indicative quotes of price
contracts. The most frequently applied valuation techniques and yields prevailing in the market as on March31, 2016.
include forward pricing, swap models and Black Scholes models
Available for sale investments (Investment in liquid and short-
(for option valuation), using present value calculations. The
term mutual funds): Fair valuation is derived based on Net Asset
models incorporate various inputs including the credit quality
value published by the respective mutual fund houses.

244 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Details of assets and liabilities considered under Level 3 classification

Availableforsale Derivative
investments assets Contingent
Equityinstruments Others consideration
Balance as at April 1, 2014 ` 2,676 ` 110 ` (789)
Additions 546 433
Disposals/ payouts (916) 39
Measurement period adjustment to goodwill 193
Gain/(loss) recognised in statement of income 608 (19) 447
Gain/(loss) recognised in other comprehensive income 953
Balance as at March 31, 2015 ` 3,867 ` 524 ` (110)
Balance as at April 1, 2015 ` 3,867 ` 524 ` (110)
Additions/adjustments 1,016 (1,908)
Gain/loss recognised in statement of income 34
Gain/loss recognized in foreign currency translation reserve (95)
Gain/loss recognised in other comprehensive income 24
Finance expense recognised in statement of income (138)
Balance as at March 31, 2016 ` 4,907 ` 558 ` (2,251)
Description of significant unobservable inputs to valuation:

Valuation Significant Movementby Increase Decrease

technique unobservable
input
As at March31, 2015
Available for sale investments Discountedcash Long term growth rate 0.5% ` 44 ` (40)
in unquoted equity shares flow model
Discount rate 0.5% ` (85) ` 91
Market multiple Revenuemultiple 0.5x ` 148 ` (152)
approach
Derivative assets Optionpricing Volatilityof comparable 2.5% ` 32 ` (33)
model companies
Time to liquidation event 1year ` 63 ` (85)
As at March31, 2016
Available for sale investments Discountedcash Long term growth rate 0.5% ` 57 ` (53)
in unquoted equity shares flow model
Discount rate 0.5% ` (95) ` 103
Market multiple Revenuemultiple 0.5x ` 182 ` (187)
approach
Derivative assets Optionpricing Volatilityof comparable 2.5% ` 31 ` (32)
model companies
Time to liquidation event 1year ` 60 ` (69)
Contingent consideration Probability weighted Estimated revenue 1% ` 36 ` (36)
method achievement
Estimated earnings 1% ` 37 ` (37)
achievement
Refer note 6 for disclosure relating to valuation techniques applied for contingent consideration.
Derivatives assets and liabilities:
The Company is exposed to foreign currency fluctuations on foreign currency assets / liabilities, forecasted cash flows denominated in
foreign currency and net investment in foreign operations. The Company follows established risk management policies, including the
use of derivatives to hedge foreign currency assets / liabilities, foreign currency forecasted cash flows and net investment in foreign
operations. The counter party in these derivative instruments is a bank and the Company considers the risks of non-performance
by the counterparty as not material.

Wipro Limited 245

Consolidated Financial Statements Under IFRS

The following table presents the aggregate contracted principal or losses on derivative transactions or portions thereof that have
amounts of the Companys derivative contracts outstanding: become ineffective as hedges, or associated with an underlying
exposure that did not occur.
As at March31,
2015 2016 Sale of financial assets
Designated derivative From time to time, in the normal course of business, the Company
instruments transfers accounts receivables, unbilled revenues, net investment
Sell US$ 836 US$ 922 in finance lease receivables (financials assets) to banks. Under the
220 278 terms of the arrangements, the Company surrenders control over
198 248 the financial assets and transfer is without recourse. Accordingly,
AUD 83 AUD 139 such transfers are recorded as sale of financial assets. Gains and
SAR SAR 19 losses on sale of financial assets without recourse are recorded
AED AED 7 at the time of sale based on the carrying value of the financial
Interest rate swaps US$ 150 US$ 150 assets and fair value of servicing liability.
Net investment hedges in In certain cases, transfer of financial assets may be with recourse.
foreign operations Under arrangements with recourse, the Company is obligated
Others US$ 145 US$ to repurchase the uncollected financial assets, subject to limits
Non designated derivative specified in the agreement with the banks. These are reflected
instruments as part of loans and borrowings in the statement of financial
Sell US$ 1,304 US$ 1,298 position. The incremental impact of such transaction on our
67 55 cash flow and liquidity for the years ended March31, 2015 and
60 87 2016 is not material.
AUD 53 AUD 35 Financial risk management
490 490
SGD 13 SGD 3 General
ZAR 69 ZAR 110 Market risk is the risk of loss of future earnings, to fair values or
CAD 30 CAD 11 to future cash flows that may result from a change in the price
CHF 10 CHF 10 of a financial instrument. The value of a financial instrument
SAR SAR 58 may change as a result of changes in the interest rates, foreign
AED AED 7 currency exchange rates and other market changes that affect
Buy US$ 790 US$ 822 market risk sensitive instruments. Market risk is attributable to all
The following table summarizes activity in the cash flow hedging market risk sensitive financial instruments including investments,
reserve within equity related to all derivative instruments foreign currency receivables, payables and loans and borrowings.
classified as cash flow hedges: The Companys exposure to market risk is a function of
investment and borrowing activities and revenue generating
As at March31, activities in foreign currency. The objective of market risk
2015 2016 management is to avoid excessive exposure of the Companys
Balance as at the beginning of earnings and equity to losses.
the year ` 567 ` 4,268
Risk Management Procedures
Deferred cancellation gain/(loss) 101 (3)
Changes in fair value of effective The Company manages market risk through a corporate treasury
portion of derivatives 6,469 1,079 department, which evaluates and exercises independent control
Net (gain)/loss reclassified over the entire process of market risk management. The corporate
to statement of income treasury department recommends risk management objectives
on occurrence of hedged and policies, which are approved by senior management and
transactions (2,869) (2,977) Audit Committee. The activities of this department include
Gains/ (losses) on cash flow management of cash resources, implementing hedging
hedging derivatives, net ` 3,701 ` (1,901) strategies for foreign currency exposures, borrowing strategies,
Balance as at the end of the year ` 4,268 ` 2,367 and ensuring compliance with market risk limits and policies.
Deferred tax asset thereon ` (718) ` (457) Foreign currency risk
Balance as at the end of the year,
The Company operates internationally and a major portion of
net of deferred tax ` 3,550 ` 1,910
its business is transacted in several currencies. Consequently,
The related hedge transactions for balance in cash flow hedging the Company is exposed to foreign exchange risk through
reserve as of March 31, 2016 are expected to occur and be receiving payment for sales and services in the United States
reclassified to the statement of income over a period of 4 years. and elsewhere, and making purchases from overseas suppliers
As at March31, 2015 and 2016, there were no significant gains in various foreign currencies. The exchange rate risk primarily

246 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

arises from foreign exchange revenue, receivables, cash balances, established risk management policies, including the use of
forecasted cash flows, payables and foreign currency loans and derivatives like foreign exchange forward/option contracts to
borrowings. A significant portion of the Companys revenue is in hedge forecasted cash flows denominated in foreign currency.
the U.S.Dollar, the United Kingdom PoundSterling, the Euro, the The Company has designated certain derivative instruments as
Canadian Dollar and the Australian Dollar, while a large portion cash flow hedges to mitigate the foreign exchange exposure
of costs are in Indian rupees. The exchange rate between the of forecasted highly probable cash flows. The Company has
rupee and these currencies has fluctuated significantly in recent also designated foreign currency borrowings as hedge against
years and may continue to fluctuate in the future. Appreciation respective net investments in foreign operations.
of the rupee against these currencies can adversely affect the
Companys results of operations. As of March 31, 2015 and 2016 respectively, a ` 1 increase/
decrease in the spot exchange rate of the Indian rupee with the
The Company evaluates exchange rate exposure arising from U.S. dollar would result in approximately ` 1,495 and ` 1,398
these transactions and enters into foreign currency derivative decrease/increase in the fair value of foreign currency dollar
instruments to mitigate such exposure. The Company follows denominated derivative instruments.
The below table presents foreign currency risk from non-derivative financial instruments as of March31, 2015 and 2016:

As at March 31, 2015

US$ Euro Pound Australian Canadian Other Total
Sterling Dollar Dollar currencies#
Trade receivables ` 29,586 ` 4,648 ` 8,603 ` 1,376 ` 211 ` 3,005 ` 47,429
Unbilled revenues 16,430 2,855 5,099 915 196 1,292 26,787
Cash and cash equivalents 40,465 1,098 842 255 26 2,100 44,786
Other assets 1,393 1,241 308 1,782 12 218 4,954
Loans and borrowings ` (58,750) ` ` (360) ` (932) ` ` (227) ` (60,269)
Trade payables, accrued
expenses and other liabilities (22,296) (2,923) (4,149) (797) (119) (1,571) (31,855)
Net assets / (liabilities) ` 6,828 ` 6,919 ` 10,343 ` 2,599 ` 326 ` 4,817 ` 31,832

As at March 31, 2016

US$ Euro Pound Australian Canadian Other Total
Sterling Dollar Dollar currencies#
Trade receivables ` 34,284 ` 3,836 ` 6,891 ` 1,754 ` 419 ` 3,023 ` 50,207
Unbilled revenues 19,578 4,330 4,458 1,780 258 1,398 31,802
Cash and cash equivalents 46,426 2,361 47 362 43 1,403 50,642
Other assets 1,810 1,071 44 2,091 14 171 5,201
Loans and borrowings ` (65,180) ` (6,109) ` (221) ` (776) ` ` ` (72,286)
Trade payables, accrued
expenses and other liabilities (18,869) (4,339) (4,788) (1,417) (149) (1,702) (31,264)
Net assets / (liabilities) ` 18,049 ` 1,150 ` 6,431 ` 3,794 ` 585 ` 4,293 ` 34,302
# Other currencies reflect currencies such as Singapore Dollars, Saudi Arabian Riyals etc.
As at March31, 2015 and 2016 respectively, every 1% increase/ borrowings were subject to floating interest rates, which reset
decrease of the respective foreign currencies compared to at short intervals. If interest rates were to increase by 100 bps
functional currency of the Company would impact result from March31, 2016, additional net annual interest expense on
from operating activities by approximately ` 318 and ` 343 floating rate borrowing would amount to approximately ` 1,102.
respectively.
Credit risk
Interest rate risk
Credit risk arises from the possibility that customers may not
Interest rate risk primarily arises from floating rate borrowing, be able to settle their obligations as agreed. To manage this,
including various revolving and other lines of credit. The the Company periodically assesses the financial reliability of
Companys investments are primarily in short-term investments, customers, taking into account the financial condition, current
which do not expose it to significant interest rate risk. The economic trends, analysis of historical bad debts and ageing of
Company manages its net exposure to interest rate risk relating accounts receivable. Individual risk limits are set accordingly. No
to borrowings by entering into interest rate swap agreements, single customer accounted for more than 10% of the accounts
which allows it to exchange periodic payments based on a receivable as of March 31, 2015 and 2016, respectively and
notional amount and agreed upon fixed and floating interest revenues for the year ended March31, 2014, 2015 and 2016,
rates. As of March31, 2016, substantially all of the Companys respectively. There is no significant concentration of credit risk.

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Consolidated Financial Statements Under IFRS

Financial assets that are neither past due nor impaired Counterparty risk
Cash and cash equivalents, available-for-sale financial assets, Counterparty risk encompasses issuer risk on marketable
investment in certificates of deposits and interest bearing securities, settlement risk on derivative and money market
deposits with corporates are neither past due nor impaired.
contracts and credit risk on cash and time deposits. Issuer risk is
Cash and cash equivalents with banks and interest-bearing
minimized by only buying securities which are at least AA rated
deposits are placed with corporate, which have high credit-
ratings assigned by international and domestic credit-rating in India based on Indian rating agencies. Settlement and credit
agencies. Available-for-sale financial assets substantially risk is reduced by the policy of entering into transactions with
include investment in liquid mutual fund units. Certificates of counterparties that are usually banks or financial institutions
deposit represent funds deposited with banks or other financial with acceptable credit ratings. Exposure to these risks are closely
institutions for a specified time period. monitored and maintained within predetermined parameters.
There are limits on credit exposure to any financial institution.
Financial assets that are past due but not impaired
The limits are regularly assessed and determined based upon
There is no other class of financial assets that is past due but credit analysis including financial statements and capital
not impaired except for receivables of ` 5,510 and ` 7,305 as of adequacy ratio reviews.
March31, 2015 and 2016, respectively. Of the total receivables,
` 67,997 and ` 74,200 as of March31, 2015 and 2016, respectively, Liquidity risk
were neither past due nor impaired. The Companys credit period
generally ranges from 45-60 days from invoicing date. The aging Liquidity risk is defined as the risk that the Company will
analysis of the receivables has been considered from the date not be able to settle or meet its obligations on time or at a
the invoice falls due. The age wise break up of receivables, net reasonable price. The Companys corporate treasury department
of allowances that are past due, is given below: is responsible for liquidity and funding as well as settlement
management. In addition, processes and policies related to
As at March31,
such risks are overseen by senior management. Management
2015 2016
monitors the Companys net liquidity position through rolling
Financial assets that are neither past
due nor impaired ` 67,997 ` 74,200 forecasts on the basis of expected cash flows. As of March31,
Financial assets that are past due but 2016, cash and cash equivalents are held with major banks and
not impaired financial institutions.
Past due 0 30 days 7,343 7,924 The table below provides details regarding the remaining
Past due 31 60 days 3,936 3,959
contractual maturities of significant financial liabilities at
Past due 61 90 days 2,876 2,980
the reporting date. The amounts include estimated interest
Past due over 90 days 16,307 18,728
payments and exclude the impact of netting agreements, if any.
Total past due but not impaired ` 30,462 ` 33,591

As at March31, 2015
Contractual cash flows
Carrying Lessthan 1
1-2years 2-4years 4-7years Total
value year
Loans and borrowings ` 78,913 ` 66,526 ` 1,827 ` 11,609 ` 116 ` 80,078
Trade payables and accrued expenses 57,793 57,793 57,793
Derivative liabilities ` 824 ` 753 ` 39 ` 22 ` 10 ` 824

As at March31, 2016
Contractual cash flows

Carrying Less than 1

1-2 years 2-4 years 4-7years Total
value year
Loans and borrowings ` 125,221 ` 108,775 ` 4,416 ` 13,193 ` 315 ` 126,700
Trade payables and accrued
expenses 66,810 66,810 66,810
Derivative liabilities ` 2,459 ` 2,340 ` 82 ` 37 ` ` 2,459

248 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

The balanced view of liquidity and financial indebtedness is Income tax expenses are net of reversal of provisions recorded
stated in the table below. This calculation of the net cash position in earlier periods, amounting to ` 1,244, ` 891 and ` 1,337 for
is used by the management for external communication with the year ended March31, 2014, 2015 and 2016, respectively.
investors, analysts and rating agencies: The reconciliation between the provision of income tax and
As at March31, amounts computed by applying the Indian statutory income
tax rate to profit before taxes is as follows:
2015 2016
Cash and cash equivalents ` 158,940 ` 99,049 Year ended March31,
Inter corporate and term deposits 38,200 69,439 2014 2015 2016
Available for sale investments 53,908 132,944 Profit before taxes ` 101,005 ` 111,683 ` 114,719
Loans and borrowings (78,913) (125,221) Enacted income tax rate
Net cash position ` 172,135 ` 176,211 in India 33.99% 33.99% 34.61%
Computed expected tax
16. Foreign currency translation reserve expense 34,332 37,961 39,704
The movement in foreign currency translation reserve attributable Effect of:
Income exempt from tax (11,208) (11,698) (10,750)
to equity holders of the Company is summarized below:
Basis differences that will
As at March31, reverse during a tax holiday
2015 2016 period 918 (327) (475)
Balance at the beginning of the Income taxed at higher/
(lower) rates (1,261) (1,910) (3,305)
year ` 10,060 ` 11,249
Income taxes relating to
Translation difference related to prior years (1,244) (891) (1,337)
foreign operations 799 5,680 Changes in unrecognized
Change in effective portion of deferred tax assets 302 343 87
hedges of net investment in Expenses disallowed for tax
foreign operations 390 (813) purposes 671 1,225 1,729
Total change during the year ` 1,189 ` 4,867 Others, net 91 (79) (348)
Balance at the end of the year ` 11,249 ` 16,116 Total income tax expense ` 22,600 ` 24,624 ` 25,305
17. Income taxes The components of deferred tax assets and liabilities are as
follows:
Income tax expense has been allocated as follows:
As at March31,
Year ended March31, 2014 2015 2016
2014 2015 2016 Carry-forward business
Income tax expense for losses* ` 4,207 ` 3,589 ` 5,976
continuing operations as per Accrued expenses and
the statement of income ` 22,600 ` 24,624 ` 25,305 liabilities 1,257 2,546 3,270
Income tax included in other Allowances for doubtful
comprehensive income on: accounts receivable 1,750 1,859 2,553
Unrealized gains/(losses) on Minimum alternate tax 1,844 1,844 1,457
Income received in
available for sale investments (4) 335 159
advance 807 134
Unrealized gains/(losses) on Others (71) (268) (278)
cash flow hedging derivatives 112 650 (260) ` 9,794 ` 9,704 ` 12,978
Defined benefit plan Property, plant and
actuarial gains/(losses) 55 (19) (224) equipment ` (5,005) ` (3,416) ` (4,470)
Total income taxes ` 22,763 ` 25,590 ` 24,980 Amortizable goodwill (1,698) (3,347) (3,963)
Income tax expense consists of the following: Intangible assets (261) (1,965) (5,391)
Cash flow hedges (68) (719) (458)
Year ended March31, Deferred revenue (1,196) (552) (4)
2014 2015 2016 ` (8,228) ` (9,999) ` (14,286)
Current taxes Net deferred tax assets/
Domestic ` 18,414 ` 19,163 ` 20,221 (liabilities) ` 1,566 ` (295) ` (1,308)
Foreign 2,293 5,913 5,536 Amounts presented in
` 20,707 ` 25,076 ` 25,757 statement of financial
Deferred taxes position:
Domestic ` (389) ` (247) ` (567) Deferred tax assets ` 3,362 ` 2,945 ` 3,800
Foreign 2,282 (205) 115 Deferred tax liabilities ` (1,796) ` (3,240) ` (5,108)
` 1,893 ` (452) ` (452) * Includes deferred tax asset recognised on carry forward losses
Total income tax expense ` 22,600 ` 24,624 ` 25,305 pertaining to business combinations.

Wipro Limited 249

Consolidated Financial Statements Under IFRS

Deferred taxes on unrealized foreign exchange gain / loss recognized in the statement of financial position as of March31,
relating to cash flow hedges, fair value movements in available 2015 and 2016 respectively, which can be carried forward for a
for sale of investments and actuarial gains/losses on defined period of ten years from the year of recognition.
benefit plans are recognized in other comprehensive income
A substantial portion of the profits of the Companys India
and presented within equity in the cash flow hedging reserve.
operations are exempt from Indian income taxes being profits
Deferred tax liability on the intangible assets identified and carry
attributable to export operations and profits from undertakings
forward losses on acquisitions is recorded by an adjustment to
situated in Software Technology, Hardware Technology Parks
goodwill. Other than these, the change in deferred tax assets
and Export Oriented units. Under the tax holiday, the taxpayer
and liabilities is primarily recorded in the statement of income.
can utilize an exemption from income taxes for a period of any
In assessing the realizability of deferred tax assets, the Company ten consecutive years. The tax holidays on all facilities under
considers the extent to which it is probable that the deferred Software Technology, Hardware Technology Parks and Export
tax asset will be realized. The ultimate realization of deferred oriented units has expired on March 31, 2011. Additionally,
tax assets is dependent upon the generation of future taxable under the Special Economic Zone Act, 2005 scheme, units in
profits during the periods in which those temporary differences designated special economic zones providing service on or after
and tax loss carry-forwards become deductible. The Company April1, 2005 will be eligible for a deduction of 100 percent of
considers the expected reversal of deferred tax liabilities, profits or gains derived from the export of services for the first
projected future taxable income and tax planning strategies in five years from commencement of provision of services and 50
making this assessment. Based on this, the Company believes percent of such profits and gains for a further five years. Certain
that it is probable that the Company will realize the benefits of tax benefits are also available for a further five years subject to
these deductible differences. The amount of deferred tax asset the unit meeting defined conditions. Profits from certain other
considered realizable, however, could be reduced in the near undertakings are also eligible for preferential tax treatment. The
term if the estimates of future taxable income during the carry- tax holiday period being currently available to the Company
forward period are reduced. expires in various years through fiscal 2029. The expiration
period of tax holiday for each unit within a SEZ is determined
Deferred tax asset amounting to ` 1,858 and ` 1,782 as at
based on the number of years that have lapsed following year
March 31, 2015 and 2016, respectively in respect of unused
of commencement of production by that unit. The impact of
tax losses have not been recognized by the Company. The tax
tax holidays has resulted in a decrease of current tax expense
loss carry-forwards of ` 6,509 and ` 6,679 as at March31, 2015
of ` 11,043, ` 11,412 and ` 10,212 for the years ended March31,
and March31, 2016, respectively, relates to certain subsidiaries
2014, 2015 and 2016 respectively, compared to the effective tax
on which deferred tax asset has not been recognized by the
amounts that we estimate we would have been required to pay
Company, because there is a lack of reasonable certainty
if these incentives had not been available. The per share effect
that these subsidiaries may generate future taxable profits.
of these tax incentives for the years ended March31, 2014, 2015
Approximately, ` 4,971 and ` 6,117 as at March31, 2015 and
and 2016 was ` 4.50, ` 4.65 and ` 4.16 respectively.
March31, 2016, respectively, of these tax loss carry-forwards is
not currently subject to expiration dates. The remaining tax loss Deferred income tax liabilities are recognized for all taxable
carry-forwards of approximately ` 1,538 and ` 562 as at March31, temporary differences except in respect of taxable temporary
2015 and March31, 2016, respectively, expires in various years differences associated with investments in subsidiaries where
through fiscal 2036. the timing of the reversal of the temporary difference can be
controlled and it is probable that the temporary difference will
The Company has recognized deferred tax assets of ` 3,589 and
not reverse in the foreseeable future. Accordingly, deferred
` 5,976 in respect of carry forward losses of its various subsidiaries
income tax liabilities on cumulative earnings of subsidiaries
as at March31, 2015 and 2016. Managements projections of
amounting to ` 26,313 and ` 33,920 as of March31, 2015 and
future taxable income and tax planning strategies support the
2016, respectively has not been recognized. Further, it is not
assumption that it is probable that sufficient taxable income will
practicable to estimate the amount of the unrecognized deferred
be available to utilize these deferred tax assets.
tax liabilities for these undistributed earnings.
Pursuant to the changes in the Indian income tax laws, Minimum
The Company is subject to U.S. tax on income attributable to its
Alternate Tax (MAT) has been extended to income in respect
permanent establishment in the United States due to operation
of which deduction is claimed under Section 10A, 10B and
of the U.S. branch. In addition, the Company is subject to a 15%
10AA of the Income Tax Act, 1961; consequently, the Company
branch profit tax in the United States on the dividend equivalent
has calculated its tax liability for current domestic taxes after
amount as that term is defined under U.S. tax law. The Company
considering MAT. The excess tax paid under MAT provisions
has not triggered the branch profit tax until year ended March31,
over and above normal tax liability can be carried forward and
2016. The Company intends to maintain the current level of net
set-off against future tax liabilities computed under normal
assets in the United States commensurate with its operation and
tax provisions. The Company was required to pay MAT and
consistent with its business plan. The Company does not intend
accordingly, a deferred tax asset of ` 1,844 and ` 1,457 has been
to repatriate out of the United States any portion of its current

250 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

profits. Accordingly, the Company did not record current and The capital structure as of March 31, 2015 and 2016 was as
deferred tax provision for branch profit tax. follows:

18. Dividends and Buy Back of equity shares As at March31,

2015 2016 %Change
The Company declares and pays dividends in Indian rupees.
Total equity attributable
According to the Companies Act, 2013 any dividend should
to the equity
be declared out of accumulated distributable profits. A shareholders of the
company may, before the declaration of any dividend, transfer a Company ` 407,982 ` 466,078 14.24%
percentage of its profits for that financial year as it may consider
As percentage of total
appropriate to the reserves. capital 84% 79%
The cash dividends paid per equity share were ` 8, ` 10 and Current loans and
` 12 during the years ended March31, 2014, 2015 and 2016, borrowings 66,206 107,860
respectively, including an interim dividend of ` 3, ` 5 and ` 5 Non-current loans and
for the years ended March31, 2014, 2015 and 2016. borrowings 12,707 17,361
Total loans and
The Board of Directors in their meeting on April 20, 2016 borrowings 78,913 125,221 58.68%
proposed a final dividend of ` 1 (U.S.$ 0.02)per equity share and As percentage of total
ADS. The proposal is subject to the approval of shareholders at capital 16% 21%
the ensuing Annual General Meeting of the shareholders, and Total capital (loans and
if approved, would result in a cash outflow of approximately borrowings and equity) ` 486,895 ` 591,299 21.44%
` 2,974, including corporate dividend tax thereon. The
Loans and borrowings represented 16% and 21% of total capital
proposed dividend has not been included as a liability in these
as of March31, 2015 and 2016, respectively. The Company is not
consolidated financial statements.
subject to any externally imposed capital requirements.
On April20, 2016, the Board of Directors approved a buyback 20. Revenues
proposal for purchase by the Company of up to 40million shares
of ` 2 each (representing 1.62% of total equity capital) from the Year ended March31,
shareholders of the Company on a proportionate basis by way of 2014 2015 2016
a tender offer at a price of ` 625per equity share for an aggregate Rendering of services ` 395,838 ` 435,507 ` 481,369
amount not exceeding ` 25,000million in accordance with the Sale of products 38,431 34,038 31,071
provisions of the Companies Act, 2013 and the SEBI (Buy Back Total revenues ` 434,269 ` 469,545 ` 512,440
of Securities) Regulations, 1998. 21. Expenses by nature
19. Additional capital disclosures
Year ended March31,
The key objective of the Companys capital management is 2014 2015 2016
to ensure that it maintains a stable capital structure with the Employee compensation ` 206,568 224,838 ` 245,534
focus on total equity to uphold investor, creditor and customer Sub-contracting/technical
confidence and to ensure future development of its business. The fees 43,576 52,303 67,769
Company focused on keeping strong total equity base to ensure Cost of hardware and
independence, security, as well as a high financial flexibility for software 35,816 32,210 30,096
potential future borrowings, if required without impacting the Travel 18,519 21,684 23,507
risk profile of the Company. Facility expenses 14,044 15,167 16,480
Depreciation and
The Companys goal is to continue to be able to return excess amortisation 11,106 12,823 14,965
liquidity to shareholders by continuing to distribute annual Communication 5,356 5,204 4,825
dividends in future periods. The Company has distributed an Legal and professional fees 2,558 3,682 4,214
interim dividend of ` 5per equity share during the year ended Rates, taxes and insurance 2,221 2,240 2,526
March 31, 2016. The Board of Directors in their meeting on Advertisement and brand
April20, 2016 proposed a final dividend of ` 1 (U.S. $ 0.02)per building 1,417 1,598 2,292
equity share and ADS. The proposal is subject to the approval of Provision for doubtful debt 1,294 922 1,843
shareholders. Further, the board of directors has approved a buy Miscellaneous expenses 5,799 5,088 5,235
back proposal for purchase of 40million equity shares through Total cost of revenues,
a tender offer at a price of ` 625per equity share. The amount selling and marketing
of future dividends will be balanced with efforts to continue to expenses and general and
maintain an adequate liquidity status. administrative expenses ` 348,274 ` 377,759 ` 419,286

Wipro Limited 251

Consolidated Financial Statements Under IFRS

22. Finance expense 24. Earnings per equity share

Year ended March31, A reconciliation of profit for the year and equity shares used in
2014 2015 2016 the computation of basic and diluted earnings per equity share
Interest expense ` 868 ` 768 ` 1,410 is set out below:
Exchange fluctuation Basic: Basic earnings per share is calculated by dividing the
on foreign currency profit attributable to equity shareholders of the Company by
borrowings, net 2,023 2,831 4,172 the weighted average number of equity shares outstanding
Total ` 2,891 ` 3,599 ` 5,582 during the period, excluding equity shares purchased by the
23. Finance and other income Company and held as treasury shares. Equity shares held by
controlled Wipro Equity Reward Trust (WERT) and Wipro Inc
Year ended March31, Benefit Trust (WIBT) have been reduced from the equity shares
2014 2015 2016 outstanding for computing basic and diluted earnings per share.
Interest income ` 12,491 ` 15,687 ` 20,568 During the year ended March 31, 2015, WIBT sold 1.8 million
Dividend income 354 224 66 shares of Wipro Limited.
Gain on sale of investments 1,697 3,948 2,646
Total ` 14,542 ` 19,859 ` 23,280

Year ended March31,

2014 2015 2016
Profit attributable to equity holders of the Company ` 77,967 ` 86,528 ` 88,922
Weighted average number of equity shares outstanding 2,454,745,434 2,454,681,650 2,456,559,400
Basic earnings per share ` 31.76 ` 35.25 ` 36.20

Diluted: Diluted earnings per share is calculated by adjusting the The calculation is performed in respect of share options to
weighted average number of equity shares outstanding during determine the number of shares that could have been acquired at
the period for assumed conversion of all dilutive potential equity fair value (determined as the average market price of the Companys
shares. Employee share options are dilutive potential equity shares during the period). The number of shares calculated as above
shares for the Company. is compared with the number of shares that would have been issued
assuming the exercise of the share options.

Year ended March31,

2014 2015 2016
Profit attributable to equity holders of the Company ` 77,967 ` 86,528 ` 88,922
Weighted average number of equity shares outstanding 2,454,745,434 2,454,681,650 2,456,559,400
Effect of dilutive equivalent share options 7,881,305 7,897,511 5,130,508
Weighted average number of equity shares for diluted earnings per share 2,462,626,739 2,462,579,161 2,461,689,908
Diluted earnings per share ` 31.66 ` 35.13 ` 36.12

25. Employee stock incentive plans and Compensation Committee recommends to WERT certain
officers and key employees, to whom WERT grants shares from
The stock compensation expense recognized for employee
its holdings at nominal price. Such shares are then held by the
services received during the year ended March31, 2014, 2015
employees subject to vesting conditions. The shares held by
and 2016 were ` 513, ` 1,138 and `1,534 respectively.
WERT are reported as a reduction in stockholders equity. WERT
Wipro Equity Reward Trust (WERT) held 14,829,824 shares as at March31, 2014, 2015 and 2016.
In 1984, the Company established a controlled trust called the Wipro Employee Stock Option Plans and Restricted Stock
Wipro Equity Reward Trust (WERT). In the earlier years, WERT Unit Option Plans
purchased shares of the Company out of funds borrowed from
A summary of the general terms of grants under stock option
the Company. The Companys Board Governance, Nomination
plans and restricted stock unit option plans are as follows:

252 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Authorized Rangeof
Name of Plan Shares ExercisePrices
Wipro Employee Stock Option Plan 1999 (1999 Plan) 50,000,000 ` 171 490
Wipro Employee Stock Option Plan 2000 (2000 Plan) 280,303,030 ` 171 490
Stock Option Plan (2000 ADS Plan) 15,000,000 US$ 37
Wipro Restricted Stock Unit Plan (WRSUP 2004 plan) 22,424,242 ` 2
Wipro ADS Restricted Stock Unit Plan (WARSUP 2004 plan) 22,424,242 US$ 0.03
Wipro Employee Restricted Stock Unit Plan 2005 (WSRUP 2005 plan) 22,424,242 ` 2
Wipro Employee Restricted Stock Unit Plan 2007 (WSRUP 2007 plan) 18,686,869 ` 2
Wipro Equity Reward Trust Employee Stock Purchase Plan, 2013 14,829,824 ` 2
Employees covered under the stock option plans and restricted stock unit option plans (collectively stock option plans) are granted
an option to purchase shares of the Company at the respective exercise prices, subject to requirement of vesting conditions (generally
service conditions). These options generally vests in tranches over a period of 3 to 5 years from the date of grant. Upon vesting, the
employees can acquire one equity share for every option. The maximum contractual term for these stock option plans is ten years.
The activity in these stock option plans is summarized below:

Year ended March31,

2014 2015 2016
Rangeof Number Weighted Number Weighted Number Weighted
Exercise Average Average Average
Prices Exercise Exercise Exercise
Price Price Price
Outstanding at the ` 480 489 33,636 ` 480.20 33,636 ` 480.20 20,181 ` 480.20
beginning of the year
` 2 11,502,173 ` 2 8,007,354 ` 2 6,332,219 ` 2
US$ 0.03 2,727,802 US$ 0.03 2,096,492 US$ 0.03 2,576,644 US$ 0.03
Granted ` 480 489 ` ` `
` 2 5,000 ` 2 2,480,000 ` 2 2,870,400 ` 2
US$ 0.03 25,000 US$ 0.03 1,689,500 US$ 0.04 1,697,700 US$ 0.03
Exercised ` 480 489 ` (13,455) ` `
` 2 (2,944,779) ` 2 (1,968,609) ` 2 (1,329,376) ` 2
US$ 0.03 (437,764) US$ 0.03 (743,701) US$ 0.03 (340,876) US$ 0.03
Forfeited and expired ` 480 489 ` ` `
` 2 (555,040) ` 2 (2,186,526) ` 2 (618,917) ` 2
US$ 0.03 (218,546) US$ 0.03 (465,647) US$ 0.03 (186,038) US$ 0.03
Outstanding at the end of ` 480 489 33,636 ` 480.20 20,181 ` 480.20 20,181 ` 480.20
the year
` 2 8,007,354 ` 2 6,332,219 ` 2 7,254,326 ` 2
US$ 0.03 2,096,492 US$ 0.03 2,576,644 US$ 0.03 3,747,430 US$ 0.03
Exercisable at the end of ` 480 489 13,455 ` 480.20 ` 480.20 20,181 ` 480.20
the year
` 2 5,518,608 ` 2 1,389,772 ` 2 1,204,405 ` 2
US$ 0.03 347,562 US$ 0.03 180,683 US$ 0.03 256,753 US$ 0.03

Wipro Limited 253

Consolidated Financial Statements Under IFRS

The following table summarizes information about outstanding stock options:

As at March31,
2014 2015 2016
Range of Numbers Weighted Weighted Numbers Weighted Weighted Numbers Weighted Weighted
Exercise Average Average Average Average Average Average
price Remaining Exercise Remaining Exercise Remaining Exercise
Life Price Life Price Life Price
(Months) (Months) (Months)
` 480489 33,636 36 ` 480.20 20,181 24 ` 480.20 20,181 ` 480.20
` 2 8,007,354 36 ` 2 6,332,219 25 ` 2.00 7,254,326 23 ` 2.00
US$ 0.03 2,096,492 44 US$ 0.03 2,576,644 31 US$ 0.03 3,747,430 24 US$ 0.03
The weighted-average grant-date fair value of options granted during the year ended March31, 2014, 2015 and 2016 was `676.73,
`658.12 and `699.96 for each option, respectively. The weighted average share price of options exercised during the year ended
March31, 2014, 2015 and 2016 was ` 462.60, `603.58 and ` 608.62 for each option, respectively.

26. Employee benefits

a) Employee costs include: b) Defined benefit plans Gratuity:

Year ended March31, Amount recognized in the statement of income in respect of

2014 2015 2016 gratuity cost (defined benefit plan) is as follows:
Salaries and bonus ` 201,815 ` 218,985 ` 237,949
Year ended March31,
Employee benefit plans
Gratuity 559 688 922 2014 2015 2016
Contribution to provident Current service cost ` 578 ` 665 ` 915
and other funds 3,681 4,027 5,129 Net interest on net defined
Share based compensation 513 1,138 1,534 benefit liability/(asset) (19) 23 7
` 206,568 ` 224,838 ` 245,534
Net gratuity cost/(benefit) ` 559 ` 688 ` 922
The employee benefit cost is recognized in the following line
items in the statement of income: Actual return on plan assets ` 263 ` 365 ` 313

Year ended March31, Gratuity is applicable only to employees drawing a salary in

2014 2015 2016 Indian rupees and there are no other foreign defined benefit
Cost of revenues ` 173,651 ` 189,959 ` 207,747 gratuity plans.
Selling and marketing The principal assumptions used for the purpose of actuarial
expenses 21,412 21,851 23,663 valuation are as follows:
General and administrative
expenses 11,505 13,028 14,124 As at March31,
` 206,568 ` 224,838 ` 245,534
2014 2015 2016
Defined benefit plan actuarial gains/ (losses) recognized in other Discount rate 8.90% 7.95% 7.75%
comprehensive income include:
Expected return on plan assets 8.50% 7.95% 7.75%
Yearended March31,
Expected rate of salary increase 8.00% 8.00% 8.00%
2015 2016
Re-measurement of net defined The expected return on plan assets is based on expectation of
benefit liability/(asset) the average long term rate of return expected on investments of
Return on plan assets excluding the fund during the estimated term of the obligations.
interest income (96) 30
Actuarial loss/ (gain) arising from The discount rate is based on the prevailing market yields of
financial assumptions 216 180 Indian government securities for the estimated term of the
Actuarial loss/ (gain) arising from obligations. The estimates of future salary increases considered
demographic assumptions (39) 2 takes into account the inflation, seniority, promotion and other
Actuarial loss/ (gain) arising from relevant factors. Attrition rate considered is the managements
experience adjustments 2 798 estimate, based on previous years employee turnover of the
83 1,010 Company.

254 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Change in present value of defined benefit obligation is summarized below:

As at March31,
2012 2013 2014 2015 2016
Defined benefit obligation at the beginning of the year ` 2,476 ` 2,845 ` 3,115 ` 3,690 ` 4,368
Acquisitions 25
Current service cost 435 471 578 665 915
Past service cost (16)
Interest on obligation 211 249 221 296 350
Benefits paid (352) (397) (479) (462) (530)
Actuarial losses/(gains) 66 142 NA NA NA
Remeasurement loss/(gains)
Actuarial loss/(gain) arising from financial assumptions NA NA 283 216 180
Actuarial loss/(gain) arising from demographic assumptions NA NA (3) (39) 2
Actuarial loss/(gain) arising from experience assumptions NA NA (25) 2 798
Effect of demerger of diversified business (195)
Defined benefit obligation at the end of the year ` 2,845 ` 3,115 ` 3,690 ` 4,368 ` 6,083
Change in plan assets is summarized below:

As at March31,
2012 2013 2014 2015 2016
Fair value of plan assets at the beginning of the year ` 2,387 ` 2,866 ` 3096 ` 3,357 ` 4,329
Acquisitions 1
Expected return on plan assets 184 216 240 273 342
Employer contributions 586 507 475 1,065 1,887
Benefits paid (344) (397) (478) (462) (530)
Actuarial gains/(losses) 52 50 NA NA NA
Remeasurement loss/(gains)
Return on plan assets excluding interest income NA NA 24 96 (30)
Effect of demerger of diversified business (146)
Fair value of plan assets at the end of the year ` 2,866 ` 3,096 ` 3,357 ` 4,329 ` 5,998
Present value of unfunded obligation ` 21 ` (19) ` (333) ` (39) ` (85)
Recognized asset/(liability) ` 21 ` (19) ` (333) ` (39) ` (85)
As at March31, 2014, 2015 and 2016, plan assets were primarily invested in insurer managed funds
The Company has established an income tax approved irrevocable trust fund to which it regularly contributes to finance the liabilities
of the plan. The funds investments are managed by certain insurance companies as per the mandate provided to them by the
trustees and the asset allocation is within the permissible limits prescribed in the insurance regulations.
The expected future contribution and estimated future benefit payments from the fund are as follows:

Expected contribution to the fund during the year ending March 31, 2017 ` 1,150
Estimated benefit payments from the fund for the year ending March 31:
2017 ` 910
2018 844
2019 777
2020 713
2021 626
Thereafter 7,095
Total ` 10,966
The expected benefits are based on the same assumptions used to measure the Companys benefit obligations as of March31, 2016.

Wipro Limited 255

Consolidated Financial Statements Under IFRS

Sensitivity for significant actuarial assumptions is computed to show the movement in defined benefit obligation by 0.5percentage.
As of March31, 2016, every 0.5 percentage point increase/ (decrease) in discount rate will result in (decrease)/increase of gratuity
benefit obligation by approximately ` (195), ` 218 respectively.
As of March31, 2016 every 0.5 percentage point increase/ (decrease) in expected rate of salary will result in increase/ (decrease) of
gratuity benefit obligation by approximately ` 180, ` (173)respectively.
c) Provident fund:
The details of fund and plan assets are given below:

As at March31,
2012 2013 2014 2015 2016
Fair value of plan assets ` 17,932 ` 21,004 ` 24,632 ` 28,445 ` 36,019
Present value of defined benefit obligation 17,668 21,004 24,632 28,445 36,019
Net (shortfall)/excess ` 264 ` ` ` `
The plan assets have been primarily invested in government securities and corporate bonds.
The principal assumptions used in determining the present value obligation of interest guarantee under the deterministic approach
are as follows:

As at March31,
2012 2013 2014 2015 2016
Discount rate for the term of the obligation 8.35% 7.80% 8.90% 7.95% 7.75%
Average remaining tenure of investment portfolio 6years 6years 6years 6years 6years
Guaranteed rate of return 8.25% 8.50% 8.75% 8.75% 8.75%
27. Related party relationships and transactions
List of subsidiaries as of March31, 2016 are provided in the table below.

Subsidiaries Subsidiaries Country of

Incorporation
Wipro LLC (formerly Wipro, Inc.) USA
Wipro Gallagher Solutions, Inc. USA
OpusCapitalMarketsConsultants USA
LLC
Wipro Promax Analytics USA
Solutions LLC [Formerly
Promax Analytics Solutions
Americas LLC]
Infocrossing, Inc. USA
Wipro Insurance Solutions LLC USA
Wipro Data Centre and Cloud USA
Services, Inc. (formerly Macaw
Merger, Inc.)
USA
Wipro IT Services, Inc.
HPH Holdings Corp.(A) USA
WiproOverseasITServicesPvt.Ltd India
Wipro Japan KK Japan
Wipro Shanghai Limited China
Wipro Trademarks Holding Limited India
Wipro Travel Services Limited India

256 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Subsidiaries Subsidiaries Country of

Incorporation
Wipro Holdings (Mauritius) Limited Mauritius
Wipro Holdings UK Limited U.K.
Wipro Information Technogoty Austria
Austria GmbH(A) (Formerly Wipro
Holdings Austria GmbH)
Wipro Digital Aps (A) Denmark
3D Networks (UK) Limited U.K.
Wipro Europe Limited (formerly U.K.
SAIC Europe Limited) (A)
Wipro Promax Analytics Solutions U.K.
(Europe) Limited (formerly Promax
Analytics Solutions (Europe) Ltd)
Wipro Cyprus Private Limited Cyprus
Wipro Doha LLC# Qatar
Wipro Technologies S.A DE C.V Mexico
WiproBPOPhilippinesLTD.Inc Philippines
Wipro Holdings Hungary Hungary
Korltolt Felelssg Trsasg
Wipro Technologies Argentina SA Argentina
Wipro Information Technology Egypt
Egypt SAE
Wipro Arabia Limited* SaudiArabia
Wipro Poland Sp. Z.o.o Poland
WiproITServicesPoland Poland
Sp.zo.o
Wipro Technologies Australia Pty Australia
Ltd (formerly Promax Applications
Group Pty Ltd)
Wipro Corporate Technologies Ghana
Ghana Limited
Wipro Technologies South Africa SouthAfrica
(Proprietary) Limited
WiproTechnologiesNigeria Limited Nigeria
Wipro Information Technology Netherlands
Netherlands BV.
Wipro Portugal S.A.(A) Portugal
Wipro Technologies Limited, Russia
Russia
Wipro Technology Chile SPA Chile
Wipro Solutions Canada Limited Canada
Wipro Information Technology Kazakhstan
Kazakhstan LLP
Wipro Technologies W.T. Sociedad Costa Rica
Anonima
Wipro Outsourcing Services Ireland
(Ireland) Limited
Wipro IT Services Ukraine LLC Ukraine
Wipro Technologies Norway AS Norway
Wipro Technologies VZ, C.A. Venezuela

Wipro Limited 257

Consolidated Financial Statements Under IFRS

Subsidiaries Subsidiaries Country of

Incorporation
Wipro Technologies Peru S.A.C Peru
Wipro Technologies SRL Romania
PT WT Indonesia Indonesia
Wipro Australia Pty Limited Australia
Wipro Promax Holdings Pty Ltd Australia
(formerly Promax Holdings Pty
Ltd)(A)
Wipro (Thailand) Co Limited Thailand
Wipro Bahrain Limited WLL Bahrain
Wipro Gulf LLC Sultanateof
Oman
Rainbow Software LLC Iraq
Cellent AG Germany
Cellent Germany
Mittelstandsberatung
GmbH
Cellent AG Austria
Austria(A)
Wipro Networks Pte Limited Singapore
(formerly 3D Networks Pte
Limited)
Wipro (Dalian) Limited China
Wipro Technologies SDN BHD Malaysia
Wipro Chengdu Limited China
Wipro Airport IT Services Limited* India
* All the above direct subsidiaries are 100% held by the Company except that the Company holds 66.67% of the equity securities
of Wipro Arabia Limited and 74% of the equity securities of Wipro Airport IT Services Limited.
# 51% of equity securities of Wipro Doha LLC are held by a local share holder. However, the beneficial interest in these holdings is
with the Company.
The Company controls The Wipro SA Broad Based Ownership Scheme Trust and Wipro SA Broad Based Ownership Scheme SPV
(RF) (PTY) LTD incorporated in South Africa.
(A)
Step Subsidiary details of Wipro Information Technogoty Austria GmbH, Wipro Europe Limited, Wipro Portugal S.A, Wipro Promax
Holdings Pty Ltd, Wipro Digital Aps, Cellent AG Austria and HPH Holdings Corp. are as follows:

Subsidiaries Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Information Austria
Technogoty
AustriaGmbH
(Formerly Wipro Holdings
Austria
GmbH)
Wipro Technologies Austria
Austria GmbH
New Logic Technologies France
SARL
Wipro Europe Limited U.K.
(formerly SAIC Europe
Limited)
Wipro UK Limited U.K.

258 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Subsidiaries Subsidiaries Subsidiaries Subsidiaries Country of

Incorporation
Wipro Portugal S.A. Portugal
Wipro Retail UK Limited U.K.
Wipro do Brasil Brazil
Technologia Ltda
Wipro Technologies Gmbh Germany
Wipro Do Brasil Sistemetas Brazil
De Informatica Ltd
Wipro Promax Holdings Australia
Pty Ltd
(formerly Promax
Holdings Pty Ltd)
Wipro Promax IP Pty Ltd Australia
(formerly PAG IP Pty Ltd)
Wipro Digital Aps Denmark
Designit A/S Denmark
DesignitDenmarkA/S Denmark
DesignitMunchenGmbH Germany
Designit Oslo A/S Norway
DesignitSwedenAB Sweden
Designit T.L.V Ltd. Israel
Designit Tokyo Lt.d Japan
Denextep Spain Digital, S.L Spain
DesignitColombia S A S Colombia
Cellent AG Austria Austria
Frontworx Austria
Informationstechnologie
AG
HPH Holdings Corp. USA
HealthPlan Holdings, Inc. USA
HealthPlan Services USA
Insurance Agency, Inc.

HealthPlan Services, Inc. USA

Harrington Health USA
Services Inc.

The list of controlled trusts is:

Name of entity Nature Country of Incorporation

Wipro Equity Reward Trust Trust India

Wipro Inc Benefit Trust* Trust India

* Pursuant to the announcement issued as part of the press release on October22, 2014, Wipro Inc. Benefit Trust sold 1.8million
shares of Wipro Limited and the same is reflected in the consolidated financial statements for the year ended March31, 2015.

Wipro Limited 259

Consolidated Financial Statements Under IFRS

The other related parties are:

Name of other related parties Nature

Azim Premji Foundation Entity controlled by Director
Azim Premji Foundation for Development Entity controlled by Director
Hasham Traders Entity controlled by Director
Prazim Traders Entity controlled by Director
Zash Traders Entity controlled by Director
Hasham Investment and Trading Co. Pvt. Ltd Entity controlled by Director
Azim Premji Philanthropic Initiatives Pvt. Ltd Entity controlled by Director
Azim Premji Trust Entity controlled by Director
Wipro Enterprises (P)Limited Entity controlled by Director
Wipro GE Healthcare Private Limited Entity controlled by Director
Key management personnel
- Azim H. Premji Chairman and Managing Director
- Suresh C. Senapaty Chief Financial Officer and Executive Director(1)
- T K Kurien Executive Vice Chairman(10)
- Abidali Z. Neemuchwala Chief Executive Officer and Executive Director(8)
- Dr.Ashok Ganguly Non-Executive Director
- Narayanan Vaghul Non-Executive Director
- Dr.Jagdish N Sheth Non-Executive Director
- B. C. Prabhakar Non-Executive Director(2)
- William Arthur Owens Non-Executive Director
- Dr.Henning Kagermann Non-Executive Director(3)
- Shyam Saran Non-Executive Director(2)
- M.K. Sharma Non-Executive Director
- Vyomesh Joshi Non-Executive Director(6)
- Ireena Vittal Non-Executive Director(7)
- Rishad Azim Premji Chief Strategy Officer and Executive Director(4)
- Jatin Pravinchandra Dalal Chief Financial Officer(5)
- Dr. Patrick J. Ennis Non-Executive Director(9)
- Patrick Dupuis Non-Executive Director(9)
(1)
Up to March31, 2015
(2)
Up to July23, 2014.
(3)
Up to June30, 2014.
(4)
Effective May1, 2015
(5)
Effective April1, 2015
(6)
Effective October1, 2012
(7)
Effective October1, 2013
(8)
Effective February 1, 2016
(9)
Effective April 1, 2016
(10)
Mr. T. K. Kurien, who was the Chief Executive Officer and Executive Director, was appointed as the Executive Vice Chairman of
the Company, effective February 1, 2016.
Relative of key management personnel
- Yasmeen H. Premji

260 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

The Company has the following related party transactions:

Transaction/ Balances Entitiescontrolledby KeyManagementPersonnel

Directors
2014 2015 2016 2014 2015 2016
Sale of goods and services ` 186 ` 154 ` 240
Assets purchased 66 207 231
Interest expense 40
Interest income 18
Dividend 13,733 17,166 20,599 765 ## 958 1,147
Royalty Income
Rental income 39 55 36
Rent paid 63 22 4 6
Others 3 2 2 3 3
Key management personnel#
Remuneration and short-term benefits 221 174 273
Other benefits 32 56 135
Remuneration to relative of key 11 17
management personnel
Balances as at the year end
Receivables 617 193 137
Payables 1,000 340 225 109 66 37
# Post employment benefit comprising gratuity, and compensated absences are not disclosed as these are determined for the
Company as a whole.
## Including relative of key management personnel

28. Commitments and contingencies Guarantees: As at March 31, 2015 and 2016, performance
and financial guarantees provided by banks on behalf of the
Operating leases: The Company has taken office, vehicles and IT
Company to the Indian Government, customers and certain
equipment under cancellable and non-cancellable operating
other agencies amount to approximately ` 21,234 and ` 25,218
lease agreements that are renewable on a periodic basis at the
respectively, as part of the bank line of credit.
option of both the lessor and the lessee. The operating lease
agreements extend up to a maximum of fifteen years from Contingencies and lawsuits: The Company is subject to legal
their respective dates of inception and some of these lease proceedings and claims (including tax assessment orders/
agreements have price escalation clause. Rental payments under penalty notices) which have arisen in the ordinary course of its
such leases were ` 4,583, ` 4,727 and ` 5,184 for the year ended business. Some of the claims involve complex issues and it is not
March31, 2014, 2015 and 2016, respectively. possible to make a reasonable estimate of the expected financial
effect, if any, that will result from ultimate resolution of such
Details of contractual payments under non-cancelable leases
proceedings. However, the resolution of these legal proceedings
are given below:
is not likely to have a material and adverse effect on the results
As at March31, of operations or the financial position of the Company. The
significant of such matters are discussed below.
2015 2016
Not later than one year ` 3,351 ` 4,246 In March 2004, the Company received a tax demand for year
Later than one year but not later ended March 31, 2001 arising primarily on account of denial
than five years 6,385 9,900 of deduction under section 10A of the Income Tax Act, 1961
Later than five years 2,206 2,713 (Act) in respect of profit earned by the Companys undertaking
in Software Technology Park at Bangalore. The same issue was
` 11,942 ` 16,859
repeated in the successive assessments for the years ended
Capital commitments: As at March 31, 2015 and 2016, the March31, 2002 to March31, 2011 and the aggregate demand
Company had committed to spend approximately ` 1,262 and is ` 47,583 (including interest of ` 13,832). The appeals filed
`10,734 respectively, under agreements to purchase property against the said demand before the Appellate authorities have
and equipment. These amounts are net of capital advances paid been allowed in favor of the Company by the second appellate
in respect of these purchases. authority for the years up to March31, 2007. Further appeals

Wipro Limited 261

Consolidated Financial Statements Under IFRS

have been filed by the Income tax authorities before the Honble as follows: Banking, Financial Services and Insurance (BFSI),
High Court. The Honble High Court has heard and disposed-off Healthcare and Life Sciences (HLS), Retail, Consumer, Transport
majority of the issues in favor of the Company up to years ended and Government (RCTG), Energy, Natural Resources and Utilities
March31, 2004. (ENU), Manufacturing (MFG), Global Media and Telecom (GMT).
It also includes Others which comprises dividend income and
On similar issues for years up to March31, 2000, the Honble
gains or losses (net) relating to strategic investments, which are
High Court of Karnataka has upheld the claim of the Company
presented within Finance and other income in the statement
under section 10A of the Act. For the years ended March31, 2008
of Income. Key service offering to customers includes software
and March31, 2009, the appeals are pending before Income Tax
application development and maintenance, research and
Appellate Tribunal (Tribunal). For years ended March31, 2010
development services for hardware and software design,
and March31, 2011, the Dispute Resolution Panel (DRP) allowed
business application services, analytics, digital, consulting,
the claim of the Company under section 10A of the Act. The
infrastructure outsourcing services and business process
Income tax authorities have filed an appeal before the Tribunal.
services.
For year ended March 31, 2012, the Company received the
IT Products: The Company is a value added reseller of desktops,
draft assessment order in March 2016 with a proposed demand
servers, notebooks, storage products, networking solutions
of ` 4,241 (including interest of ` 1,376), arising primarily on
and packaged software for leading international brands. In
account of section 10AA issues with respect to exclusion from
certain total outsourcing contracts of the IT Services segment,
Export Turnover. Company has filed an objection before DRP
the Company delivers hardware, software products and other
within the prescribed timelines.
related deliverables. During FY 2013-14, the Company ceased the
Considering the facts and nature of disallowance and the order manufacturing of Wipro branded desktops, laptops and servers.
of the appellate authority / Honble High Court of Karnataka Revenue relating to the above items is reported as revenue from
upholding the claims of the Company for earlier years, the the sale of IT Products.
Company believes that the final outcome of the above disputes
The Chairman& Managing Director of the Company has been
should be in favor of the Company and there should not be any
identified as the Chief Operating Decision Maker (CODM) as
material adverse impact on the financial statements.
defined by IFRS 8, Operating Segments. The Chairman of the
The Contingent liability in respect of disputed demands for Company evaluates the segments based on their revenue growth
excise duty, custom duty, sales tax and other matters amounts to and operating income.
`2,560 and ` 2,654 as of March31, 2015 and 2016, respectively.
Assets and liabilities used in the Companys business are not
29. Segment Information identified to any of the operating segments, as these are used
interchangeably between segments. Management believes that
The Company is organized by the following operating segments:
it is currently not practicable to provide segment disclosures
IT Services and IT Products.
relating to total assets and liabilities since a meaningful
IT Services: The IT Services segment primarily consists of IT segregation of the available data is onerous.
Service offerings to customers organized by industry verticals

Information on operating segments for the year ended March31, 2016 is as follows:

ITServices

BFSI HLS RCTG ENU MFG GMT Others Total IT Reconciling Entity
Products Items total
Revenue 128,147 58,358 74,372 70,866 90,877 64,696 487,316 29,722 (731) 516,307
Segment Result 28,143 12,160 13,898 14,382 17,752 12,317 98,652 (864) (1,831) 95,957
Unallocated 1,064 1,064
Segment Result Total 99,716 (864) (1,831) 97,021
Finance expense (5,582)
Finance and other income 23,280
Profit before tax 114,719
Income tax expense (25,305)
Profit for the period 89,414
Depreciationand 14,965
amortisation

262 Annual Report 2015-16

 Consolidated Financial Statements Under IFRS

Information on operating segments for the year ended March31, 2015 is as follows:

IT Services
BFSI HLS RCTG ENU MFG GMT Others Total IT Reconciling Entity
Products Items total
Revenue 115,505 49,884 62,209 71,229 80,303 61,050 440,180 34,006 (1,004) 473,182
Segment Result 27,378 10,565 13,190 17,561 17,127 13,574 583 99,978 374 (2,600) 97,752
Unallocated (2,329) (2,329)
Segment Result Total 97,649 374 (2,600) 95,423
Finance expense (3,599)
Finance and other income 19,859
Profit before tax 111,683
Income tax expense (24,624)
Profit for the period 87,059
Depreciation and 12,823
amortisation
Information on operating segments for the year ended March31, 2014 is as follows:

IT Services
BFSI HLS RCTG ENU MFG GMT Others Total IT Reconciling Entity
Products Items total
Revenue 106,035 41,130 58,893 63,923 74,423 55,105 399,509 38,785 (666) 437,628
Segment Result 24,153 7,637 13,012 17,418 17,348 11,569 91,137 310 (1,289) 90,158
Unallocated (804) (804)
Segment Result Total 90,333 310 (1,289) 89,354
Finance expense (2,891)
Finance and other income 14,542
Profit before tax 101,005
Income tax expense (22,600)
Profit for the period 78,405
Depreciation and 11,106
amortisation
The Company has four geographic segments: India, Americas, Europe and Rest of the world. The Americas refer to North and South
America. Revenues from the geographic segments based on domicile of the customer are as follows:

Year ended March31,

2014 2015 2016
India 46,235 45,814 51,371
Americas 200,343 227,328 258,615
Europe 120,868 124,523 126,417
Rest of the world 70,182 75,517 79,904
` 437,628 ` 473,182 ` 516,307

No client individually accounted for more than 10% of the b) Segment result represents operating profits of the
revenues during the year ended March31, 2014, 2015 and 2016. segments and dividend income and gains or losses (net)
relating to strategic investments, which are presented
Management believes that it is currently not practicable to within Finance and other income in the statement of
provide disclosure of assets by geographical location, as Income.
meaningful segregation of the available information is onerous.
c) Revenues include excise duty of ` 79, ` 2 and ` Nil for the
Notes: year ended March31, 2014, 2015 and 2016, respectively. For
a) Reconciling items includes elimination of inter-segment the purpose of segment reporting, the segment revenues
transactions, dividend income/ gains/ losses relating to are net of excise duty. Excise duty is reported in reconciling
strategic investments and other corporate activities. items.

Wipro Limited 263

Consolidated Financial Statements Under IFRS

d) Revenue from sale of traded cloud based licenses is h) The Company generally offers multi-year payment terms
reported as part of IT Services revenues. in certain total outsourcing contracts. These payment
terms primarily relate to IT hardware, software and certain
e) For the purpose of segment reporting, the Company has
transformation services in outsourcing contracts. Corporate
included the impact of foreign exchange gains / (losses),
treasury provides internal financing to the business units
net in revenues (which is reported as a part of operating
offering multi-year payments terms. The finance income
profit in the statement of income).
on deferred consideration earned under these contracts
f) For evaluating performance of the individual operating is included in the revenue of the respective segment and
segments, stock compensation expense is allocated on is eliminated under reconciling items.
the basis of straight line amortisation. The differential
i) Operating income of segments is after recognition of stock
impact of accelerated amortisation of stock compensation
compensation expense arising from the grant of options:
expense over stock compensation expense allocated to the
individual operating segments is reported in reconciling Segments Year ended March31,
items.
2014 2015 2016
g) For evaluating the performance of the individual operating IT Services ` 478 ` 1,247 ` 1,424
segments, amortisation of customer and marketing related IT Products 19 (10) 2
intangibles acquired through business combinations are
Reconciling items 16 (99) 108
reported in reconciling items.
Total ` 513 ` 1,138 ` 1,534

264 Annual Report 2015-16

 BUSINESS
RESPONSIBILITY
REPORT
Section A: General Information about the Company 229 locations (including data centers)

1. Corporate Identity Number (CIN) of the Company ii. Number of National Locations

L32102KA1945PLC020800. 93 locations

2. Name of the Company (Please refer complete list of locations from pages 125
to 128 of this Annual Report)
Wipro Limited
10. Markets served by the Company Local/State/National/
3. Registered address International/
Wipro Limited Please refer to Geography Wise Performance on page
Doddakannelli, Sarjapur Road no. 44 of this Annual Report.
Bangalore - 560 035
Karnataka, India Section B: Financial Details of the Company

4. Website 1. Paid up Capital (`)

www.wipro.com As at March 31, 2016 the paid up equity share capital
5. E-mail id of the Company stood at 4,94,14,26,580 consisting of
2,47,07,13,290 equity shares of 2 each.
[email protected]
2. Total Turnover (`)
6. Financial Year reported
For the financial year 2015-16 the total turnover of the
April 1, 2015 to March 31, 2016 (FY 2015-16)
Company on a consolidated basis was 512,478 million.
7. Sector(s) that the Company is engaged in (industrial
3. Total profit after taxes (`)
activity code-wise)
IT Software, Services and related activities For the financial year 2015-16 the net profit of the Company
on a consolidated basis was 89,597 million.
NIC Code-620
4. Total Spending on Corporate Social Responsibility (CSR)
8. List three key products/services that the Company as percentage of profit after tax (%)
manufactures/provides (as in balance sheet)
Refer to Summary of CSR spend for 2015-16 on
Please refer page nos. 30 to 35 of this Annual Report
page nos. 94-95 of this Annual Report.
9. Total number of locations where business activity is
5. List of activities in which expenditure in 4 above has
undertaken by the Company
been incurred:-
i. Number of International Locations (Provide details
of major 5) Refer to Summary of CSR spend for 2015-16 on
page nos. 94-95 of this Annual Report.

Wipro Limited 265

Section C: Other Details Principle 3: Yes. Wipros COBC and policy on
Health and Safety is available at (http://www.
1. Does the Company have any Subsidiary Company/ wipro.com/documents/Health_and_Safety_
Companies? Policy.pdf ).
The Company has 86 subsidiaries as on March 31, 2016. Principle 4: Yes. Policy on Corporate Social
Please refer the complete list from page nos. 96-99 of this Responsibility is available at (http://www.wipro.
Annual Report com/documents/investors/pdf-files/policy-on-
2. Do the Subsidiary Company/Companies participate in corporate-social-responsibility-2015.pdf ).
the BR Initiatives of the parent company? If yes, then Principle 5: Yes Wipros COBC addresses
indicate the number of such subsidiary company(s). principles of Human Rights as per the principles
As the BR Initiatives of the Company are run at global level, of the U. N. Global Compact is available at http://
all subsidiaries Companies participate in BR Initiatives. www.wipro.com/documents/Human-Rights-
Policy.pdf.
3. Do any other entity/entities (e.g. suppliers, distributors
etc.) that the Company does business with, participate Principle 6: Yes. Our Policy on Ecological
in the BR initiatives of the Company? If yes, then Sustainability.
indicate the percentage of such entity/entities? [Less Principle 7: There is no distinct policy on public
than 30%, 30-60%, More than 60%] advocacy. However, refer page nos. 60-62 of this
Please refer page no. 53 Annual Report for details of our advocacy and
outreach engagements.
Section D: BR Information
Principle 8: Wipro does not have a separate policy.
1. Details of Director responsible for BR However these aspects are covered in the COBC,
a) D e t a i l s o f t h e D i re c to r re s p o n s i b l e fo r the Ecological Sustainability Commitment and
implementation of the BR policy/policies policy on Corporate Social Responsibility. Also,
refer http://wiprosustainabilityreport.com/
The Board Governance and Nomination Committee wipros-strategic-perspective
is responsible for the implementation of the BR
policies. please refer to page no. 114 of this Annual Principle 9: Yes. Wipros COBC covers this.
Report. b) Has the policy being formulated in consultation
b) Details of the BR head with the relevant stakeholders?
Yes, for all principles.
DIN (if applicable) Not applicable
Name Anurag Behar c) Does the policy conform to any national /
Designation Chief Sustainability Officer international standards? If yes, specify? (50 words)
Telephone No. 080 66144900 Principle 1: Yes. Wipros COBC subscribes to
Email id [email protected] the Foreign Corrupt Practices Act of USA.
Our financial reporting, Internal Controls and
2. Principle-wise (as per NVGs) BR Policy/policies (Reply
Procedures and Disclosure are in compliance
in Y/N)
with Generally Accepted Accounting Principles
a) Do you have a policy /policies for: (GAAP) and International Financial Reporting
Standards (IFRS).
Principle 1: Yes. Wipro has a policy on Ethics,
Transparency and Accountability. Our Code of Principle 2: Yes. Wipro has been following
Business Conduct (COBC) is applicable to our the ISO 14001 Standard and Guidelines for
customers, suppliers, partners, competitors, our Environmental Management System. For
employees and other stakeholders and is designing of our Green Buildings we have
available at http://www.wipro.com/documents/ adhered to the international LEED standard.
investors/pdf-files/code-of-business-conduct-
Principle 3: Yes. We are certified against OHSAS
and-ethics.pdf
18001 standard across our key locations.
Principle 2: Yes. Our Policy on Ecological Our comprehensive sustainability reports,
Sustainability is available at http://www.wipro. independently assured for last 8 years, cover
com/documents/Ecological_Sustainability_ this principle.
Policy.pdf
Principle 4: Yes. Our comprehensive sustainability

266 Annual Report 2015-16

 reports, independently assured for last 8 years, e) Does the company have a specified committee
cover this principle. of the Board/ Director/Official to oversee the
implementation of the policy?
Principle 5: Yes. We subscribe to the UN Global
Compact principles with respect to this principle. The Board Governance and Nomination Committee
oversees the implementation of policies and initiatives
Principle 6: Yes. Our Environmental Management
related to CSR. Please refer to page no. 114 of this
System is based on the ISO 14001 Standard.
Annual Report for responsibilities of the Board and
And the Green Buildings complies with the
also Policy on Corporate Social Responsibility.
international LEED standard.
f) Indicate the link for the policy to be viewed online.
Principle 7: Not Applicable
COBC-
Principle 8: Yes. We subscribe to the UN
Global Compact principles with respect to http://www.wipro.com/documents/investors/pdf-
this principle. We also disclose details of our files/code-of-business-conduct-and-ethics.pdf
programs and key outcomes as part of GRI based
Policy on Health and Safety-
sustainability reports.
http://www.wipro.com/documents/Health_and_
Principle 9: Yes. We subscribe to the UN Global
Safety_Policy.pdf
Compact principles with respect to this principle.
Policy on Ecological Sustainability-
d) Has the policy being approved by the Board? If yes,
has it been signed by MD/owner/CEO/appropriate http://www.wipro.com/documents/Ecological_
Board Director? Sustainability_Policy.pdf
Principle 1: Yes. The COBC is approved by Policy on Corporate Social Responsibility-
our Board of Directors and endorsed by our
http://www.wipro.com/documents/investors/pdf-files/
Chairman.
policy-on-corporate-social-responsibility-2015.pdf
Principle 2: Yes. The Policy on Ecological
GRI Report 2014-15-
Sustainability is approved by the Board of Directors
and signed by Mr. Abidali Z Neemuchwala, Chief http://www.wiprosustainabilityreport.com/
Executive Officer and Executive Director. g) Has the policy been formally communicated to all
Principle 3: Yes. The COBC is approved by the relevant internal and external stakeholders?
Board. The Policy on Health and Safety has Yes, the policies have been formally communicated to
been signed by Mr. Saurabh Govil, Senior Vice internal and external stakeholders. They are available
President - Human Resources online for all stakeholders to refer to in the above
Principle 4: Yes. The COBC is approved by mentioned links.
our Board of directors and endorsed by our h) Does the company have in-house structure to
Chairman. implement the policy/policies?
Principle 5: Yes. The COBC is approved by our Yes, for all principles.
Board of directors and endorsed by our Chairman
i) Does the Company have a grievance redressal
Principle 6: The COBC is approved by our Board mechanism related to the policy/policies to
of Directors and endorsed by our Chairman. The address stakeholders grievances related to the
Policy on Ecological Sustainability is signed by policy/policies?
Mr. Abidali Z Neemuchwala, Chief Executive
Officer and Executive Director. Yes, for all principles. A 24x7 multi-lingual online
and hotline ombuds process is in place to address
Principle 7: Not Applicable grievances from stakeholders across the organization.
Principle 8: Not Applicable Analyst and Investors provide regular feedback
Principle 9: The COBC is approved by our Board through media, interviews and ratings. Employees
of directors and endorsed by our Chairman. The have multiple channels for grievance redressal.
Policy on Ecological Sustainability is approved Suppliers can provide feedback either through the
by the board and signed by Mr. Abidali Z ombuds process, helpline, helpdesk and forums like
Neemuchwala, Chief Executive Officer and the Annual Supplier Meet.
Executive Director.

Wipro Limited 267

 Customers have multiple channels for raising risks and/or opportunities.
grievances account managers, client engagement
2.2 For each such product, provide the following details
managers, the customer advocacy group and
in respect of resource use (energy, water, raw material
through independently administered satisfaction
etc.) per unit of product (optional): Reduction during
surveys. There are ongoing, project based and annual
sourcing/ production/ distribution achieved since the
feedbacks from our Customers.
previous year throughout the value chain, Reduction
j) Has the company carried out independent audit/ during usage by consumers (energy, water) that has
evaluation of the working of this policy by an been achieved since the previous year?
internal or external agency
2.3 Does the company have procedures in place for
Our Sustainability Report of 2014-15, covering the 9 sustainable sourcing (including transportation)? If
NVG principles has been independently audited. The yes, what percentage of your inputs was sourced
report was assured based on Global Reporting Initiative, sustainably? Also, provide the details thereof, in about
Sustainability Reporting Guidelines Version 4 (GRI G4) 50 words or so.
and AccountAbilitys AA1000 Assurance Standard 2008
(AA1000AS (2008). See http://wiprosustainabilityreport. 2.4 Has the company taken any steps to procure goods
com/14-15/?q=assurance-statement and services from local & small producers, including
communities surrounding their place of work? If yes,
Internal Audit Function: The internal audit function what steps have been taken to improve their capacity
carries an audit of processes and practices across and capability of local and small vendors?
functions of the organization using the Code of
Conduct as the guideline. 2.5 Does the company have a mechanism to recycle
products and waste? If yes what is the percentage of
3. Governance related to BR recycling of products and waste (separately as <5%,
Indicate the frequency with which the Board of 5-10%, >10%). Also, provide the details thereof, in
Directors, Committee of the Board or CEO to assess the about 50 words or so.
BR performance of the Company. Within 3 months, 3-6 Please refer page nos. 53-54 of this Annual Report.
months, Annually, More than 1 year.
Principle 3
Quarterly
3.1 Please indicate the Total number of employees.
Does the Company publish a BR or a Sustainability
Report? What is the hyperlink for viewing this report? 3.2 Please indicate the Total number of employees hired
How frequently it is published? on temporary/contractual/casual basis.
Wipros Annual Report includes an articulation on the nine 3.3 Please indicate the Number of permanent women
NVG principles. We also publish a Sustainability Report. All employees.
these reports are released annually.
3.4 Please indicate the Number of permanent employees
http://www.wipro.com/about-wipro/sustainability/ with disabilities
sustainability-disclosures.aspx
3.5 Do you have an employee association that is recognized
Section E: Principle-wise performance by management?
Principle 1 3.6 What percentage of your permanent employees are
members of this recognized employee association?
1.1 Does the policy relating to ethics, bribery and
corruption cover only the company? COBC extends to 3.7 Please indicate the Number of complaints relating
the Group/Joint Ventures/ Suppliers/Contractors/NGOs to child labor, forced labor, involuntary labor, sexual
/Others? harassment, in the last financial year, and those that
1.2 How many stakeholder complaints have been received are pending, as on the end of the financial year.
in the past financial year and what percentage was 3.8 What percentage of your under mentioned employees
satisfactorily resolved by the management? If so, were given safety & skill up-gradation training in the
provide the details thereof, in about 50 words or so. last year?
Please refer page no. 37 of this Annual Report. 1. Permanent Employees
Principle 2 2. Permanent Women Employees
2.1 List up to 3 of your products or services whose design 3. Casual/Temporary/Contractual Employees
has incorporated social or environmental concerns,
4. Employees with Disabilities

268 Annual Report 2015-16

 Please refer page nos. 46-50 of this Annual Report. Principle 7
Principle 4 7.1 Is your company a member of any trade and chamber
or association? If yes, name only those major ones that
4.1 Has the company mapped its internal and external
your business deals with.
stakeholders?
7.2 Have you advocated/lobbied through the above
4.2 Out of the above, has the company identified
associations for the advancement or improvement of
the disadvantaged, vulnerable & marginalized
public good? Yes/No. If yes, specify the broad areas (
stakeholders?
Governance and Administration, Economic Reforms,
4.3 Are there any special initiatives undertaken by Inclusive Development Policies, Energy Security, Water,
the company to engage with the disadvantaged, Food Security, Sustainable Business Principles, Others).
vulnerable and marginalized stakeholders? If so,
Please refer page no. 63 of this Annual Report.
provide the details thereof, in about 50 words or so.
Principle 8
Please refer page nos. 54-57 of this Annual Report.
8.1 Does the company have specified programs / initiatives
Principle 5
/ projects in pursuit of the policy related to Principle 8?
5.1 Does the policy of the company on human rights If yes, provide the details thereof.
cover only the company or extend to the Group / Joint
8.2 Are the programs / projects undertaken through
Ventures / Suppliers / Contractors / NGOs / Others?
an in-house team/ own foundation / external NGO /
5.2 How many stakeholder complaints have been received government structures / any other organization?
in the past financial year, and what percentage was
8.3 Have you done any impact assessment of your initiative?
satisfactorily resolved by the management?
8.4 What is your companys direct contribution to
Please refer page no. 46 of this Annual Report.
community development projects- Amount in INR and
Principle 6 the details of the projects undertaken.
6.1 Does the policy related to Principle 6 cover only the 8.5 Have you taken steps to ensure that this community
company or extends to the Group / Joint Ventures / development initiative is successfully adopted by the
Suppliers / Contractors / NGOs / others. community? Please explain in 50 words or so.
6.2 Does the company have strategies/ initiatives to Please refer page nos. 54-57 of this Annual Report.
address global environmental issues such as, climate
Principle 9
change, global warming, etc? Yes/ No. If yes, please give
hyperlink for the webpage, etc. 9.1 What percentage of customer complaints / consumer
cases are pending as on the end of financial year?
6.3 Does the company identify and assess potential
environmental risks? 9.2 Does the company display product information on
the product label, over and above what is mandated
6.4 Does the company have any project related to Clean
as per local laws? Yes / No / N.A. / Remarks (additional
Development Mechanism? If so, provide the details
information).
thereof, in about 50 words or so. Also, if yes, whether
any environmental compliance report has been filed? 9.3 Is there any case filed by any stakeholder against
the company regarding unfair trade practices,
6.5 Has the company undertaken any other initiatives on
irresponsible advertising and/or anti-competitive
clean technology, energy efficiency, renewable energy,
behavior during the last five years and pending as on
etc? Yes/ No. If yes, please give hyperlink for the web
end of financial year? If so, provide the details thereof,
page, etc.
in about 50 words or so.
6.6 Are the emissions / waste generated by the company
9.4 Did your company carry out any consumer survey /
within the permissible limits given by CPCB / SPCB for
consumer satisfaction trends?
the financial year being reported?
Please refer page nos. 51-52 of this Annual Report.
6.7 Number of show cause/ legal notices received from
CPCB/SPCB which are pending (i.e., not resolved to
satisfaction) as on end of Financial Year.
Please refer page nos. 57-64 of this Annual Report.

Wipro Limited 269

 Glossary

Abbreviations from Annual Report FY15-16

SL. Abbreviation Expansion SL. Abbreviation Expansion
No No
1 A&D Aerospace &Defence 32 COSO Company of Sponsoring Trade way Organisation
2 AAS As A Service 33 CSAT Customer Satisfaction
3 ADM Application Development & Maintenance 34 CSPs Communication Service Providers
4 ADR American Depository Receipt 35 CSR Corporate Social Responsibility
5 AI Artificial Intelligence 36 CTI Computer Telephony Interface
6 APAC Asia Pacific 37 CTO Chief Technology Officer
7 ASEAN Association of Southeast Asian Nations 38 CXO Chief Executives Office
8 BBBEE Broad-Based Black Economic Empowerment 39 D&I Diversity & Inclusion
9 BCMS Business Continuity Management System 40 DIN Director Identification Number
10 BCSD Business Council for Sustainable Development 41 DJSI Dow Jones Sustainability Index
11 BFSI Banking, Financial Services & Insurance 42 E-City Electronic City
12 BI Business Intelligence 43 ENU Energy, Natural Resources and Utilities
13 BPaaS Business Process as a Service 44 EPI Energy Performance Indicator
14 BPO Business Process Outsourcing 45 EPS Earning Per Share
15 BPS Business Process Services 46 ESD Enterprise and Supplier Development
16 BPS Basis Point 47 ESG Environmental, Social and Governance
17 BSE Bombay Stock Exchange 48 ESOP Employee Stock Options
18 C(S)PCB Central(State) Pollution Control Board 49 ETRM Energy Trading and Risk Management
19 CAG Customer Advocacy Group 50 FAR Floor Area
20 CAGR Compounded Annual Growth Rate 51 FCTR Foreign Currency Translation Reserve
21 CBU Consumer Business Unit 52 FICCI Federation of Indian Chambers of Commerce
22 CDLI Carbon Disclosure Leadership Index and Industry

23 CEM Client Engagement Manager 53 FII Financial Institutional Investor

24 CEO Chief Executive Officer 54 FPP Fixed Price Projects

25 CEP Continuous Engagement Program 55 GAAP Generally Accepted Accounting Principles

26 CFO Chief Financial Officer 56 GHG Green House Gases

27 CGU Cash Generating Units 57 GIS Global Infrastructure Services

28 CII Confederation of Indian Industry 58 GMT Global Media and Telecom

29 CIN Corporate Identification Number 59 GRI Global Reporting Initiative

30 CMSP Communication & Service Provider 60 GTM Go-To-Market

31 COBC Code of Business Conduct 61 HLS Healthcare and Life Sciences

270 Annual Report 2015-16

 SL. Abbreviation Expansion SL. Abbreviation Expansion
No No
62 HoDs Heads of the Departments 106 NVGs National Voluntary Guidelines
63 HPS Health Plan Services 107 NYSE New York Stock Exchange
64 HSSE Health, Safety Security and Environment 108 OCP Operational Control Procedures
65 HUF Hindu Undivided Family 109 OEM Original Equipment Manufacturer
66 IAAS Infrastructure as a Service 110 OWC Organic Waste Converters
67 IAS International Accounting Standard 111 PaaS Platform as a Service
68 IASB International Accounting Standards Board 112 PES Product Engineering Services Group
69 IBBI Biodiversity Initiative 113 PGWM Participatory Ground Water Mapping Program
70 ICM International Care Ministries 114 POC Proof of Concepts
71 IFRIC IFRS Interpretations Committee 115 PSCI Pharmaceutical Supply Chain Initiative
72 IFRS International Financial Reporting Standards 116 PwD Persons with Disability
73 IIM Indian Institute of Management 117 RBAG Red Bison Advisory Group
74 IIRC International Integrated Reporting Council 118 RCTG Retail, Consumer, Transport and Government
75 IoE Internet of Everything 119 REC Renewable Energy Certificate
76 IoT Internet of Things 120 RMA Revolution in Military Affairs
77 IP Intellectual Property 121 RPA Robotic process automation
78 ISSG Integrated Services and Solutions Group 122 RPT Related Party Transactions
79 IT Information Technology 123 RSU Restricted Stock Unit
80 IT-BPM Information Technology- Business Process 124 SaaS Software as a Service
Management
125 SAIC Science Applications International Corporation
81 ITES Information Technology Enabled Services
126 SD Skills Development
82 IUCN International Union of Conservation Networks
127 SDX Software Defined Everything
83 JAC Joint Audit Consortium
128 SEBI Securities and Exchange Board of India
84 KMP Key Managerial Personnel
129 SEC Securities Exchange Commission
85 KSWN Karnataka State Water Network
130 SED Socio-Economic Development
86 LAN Local Area Network
131 SEF Science Education Fellowship
87 LATAM Latin America
132 SERII Solar Energy Research Institute for India and
88 LED Light Emitting Diode
the United States
89 LEED Leadership in Energy and Environmental Designs
133 SEZ Special Economic Zones
90 LIBOR London Inter Bank Offered Rate
134 SI System Integrator
91 LTV Life time value
135 STP Sewage Treatment Plants
92 M2M Machine to Machine
136 T&D Transmission and Distribution
93 MCA Ministry of Corporate Affairs
137 T&M Time and Material
94 MFG Manufacturing and Technology
138 UNPRI UN Principle of Responsible Investing
95 MRE Median Remuneration of Employees
139 USSEF United States Science Education Fellowship
96 MSW Mixed Solid Waste
140 VoC Voice of Customer
97 MTLCs Mission10X Technology Learning centers
141 WASE Wipro Academy of Software Excellence
98 NASSCOM National Association of Software and Services
Companies 142 WATIS Wipro Applying Thought in Schools
99 NBFC Non Banking Financial Company 143 WEP Womens Empowerment Principles
100 NCC Natural Capital Coalition 144 WiSTA Wipro Software Technology Academy
101 NGCE Next Gen Customer Experience 145 WOW Women of Wipro
102 NIPP NASSCOM Industry Partner Program 146 WRI World Resource Institute
103 NRI Non-resident Indian 147 WTD Whole Time Director
104 NSE National Stock Exchange 148 WTT Well To Tank
105 NUI Natural User Interface 149 WWF World Wildlife Fund

Wipro Limited 271

 NOTES

272 Annual Report 2015-16

CORPORATE INFORMATION
Board of Directors Chief Financial Officer Depository for American
Azim H Premji - Chairman Jatin Pravinchandra Dalal Depository Shares
J.P. Morgan Chase Bank N.A.
TK Kurien Statutory Auditors
Abidali Z Neemuchwala BSR & Co. LLP
Rishad Premji Chartered Accountants Registrar and Share Transfer
Agents
Dr. Ashok S Ganguly Auditors - IFRS Karvy Computershare Private Ltd.
Dr. Jagdish N Sheth KPMG
M K Sharma Registered & Corporate Office
Company Secretary Doddakannelli, Sarjapur Road
Narayanan Vaghul M Sanaulla Khan Bengaluru 560 035, India
Ireena Vittal Ph: +91 (80) 28440011
Vyomesh Joshi Fax: +91 (80) 25440051
Website: http://www.wipro.com
William Arthur Owens
Dr. Patrick J Ennis
Patrick Dupuis
DODDAKANNELLI, SARJAPUR ROAD, BENGALURU - 560035, INDIA
CIN: L32102KA1945PLC020800 | Email: [email protected]
WWW.WIPRO.COM