Wipro Limited Q1FY26 Result Analysis

Wipro Ltd is a leading Indian tech company providing comprehensive IT services globally, including BPO. The company offers a range of solutions such as systems integration, IT outsourcing, software development and maintenance, package implementation, and R&D services. Wipro is recognized as the first IT services company globally to achieve both PCMM Level 5 and SEI CMM Level 5 certifications. In India, it leads the corporate IT services market, offering network integration, software solutions, and IT services. Wipro serves clients across the Americas, Europe, the Middle East, and Asia Pacific, delivering integrated business, technology, and process solutions through innovation, process excellence, and a global delivery platform.

Backend Editor

Result Analysis:  Wipro Limited  (CMP: Rs. 267)

Result Update: Q1FY26

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Financial Performance:

Shareholding Pattern:

Particulars (In %)	Q1FY26	Q1FY26
Promoters Group	72.66	72.82
FIIs	9.12	8.08
DIIs	10.52	10.57
Public & Others	7.68	8.54

Management Commentary:

• Management targets a 17%–17.5% margin range. While large deal ramp-ups may temporarily impact margins due to upfront investments, efficiency levers such as AI-driven productivity, fixed-price projects, G&A optimization, and talent pyramid balancing are expected to mitigate the impact.
• Wipro guided for Q2 FY26 revenue growth of –1% to +1% in constant currency. While the macro environment remains uncertain, the company is confident in its healthy pipeline, strong bookings, and AI-led solutions to deliver value. Execution and conversion of large deals are top near-term priorities.
• The company has declared an interim dividend of Rs 5 per share.

Outlook:

Wipro reported muted financial performance in Q1 FY26, impacted by tariff-related challenges and geopolitical tensions in the U.S. The company achieved TCV bookings of $5 billion, marking a robust 51% YoY growth. The BFSI segment remained the largest revenue contributor, while the Americas 1 region led in geographical performance. Management continues to target an operating margin range of 17% to 17.5%. For Q2 FY26, Wipro has guided for revenue growth between –1% and +1% in constant currency, amid continued macroeconomic uncertainty. It has reported an EPS of Rs 12.86 in Q1FY26 and TTM EPS of Rs 51.26 and currently trading at a TTM P/E of 30.76x and P/B of 5.63 x.

Results:

 

Source: Company website, EWL Research

 

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