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Key Conference Call Highlights

Segment Performance

* Technology and Communication: This was the strongest performer, growing 5.3% sequentially and 10.4% YoY.

* Consumer: Showed resilience with 1.7% sequential growth, though it remained down 2.9% on a YoY basis.

* BFSI: Declined 1.3% sequentially, primarily due to delayed ramp-ups in large deals and client-specific issues in the Americas 2 market. However, the sector saw good traction in the UK and Southeast Asia.

* Health: Impacted by seasonality and policy changes, declining 4.4% QoQ.

* Capco (Consulting): A major highlight, Capco delivered its highest revenues in several quarters, acting as the "tip of the spear" for Wipro’s AI advisory and consulting services.

Geographical Performance

* APMEA: Led growth with 3.1% QoQ, driven by Southeast Asia. A landmark deal with the Olam Group, expected to exceed USD 1 Bn in contract value, was a key driver in this region.

* Europe: Grew 2% sequentially, supported by a strong deal momentum in Germany and steady performance in the UK's BFSI sector.

* Americas 1: Recorded modest growth of 0.3% QoQ, bolstered by technology and communications, despite seasonal headwinds in healthcare.

* Americas 2: The weakest geography, declining 2.6% sequentially due to significant softness in the BFSI sector and specific client issues that are expected to conclude by Q1FY27.

Margin Trajectory

* Q4 Operating Margin: Stood at 17.3%, a slight sequential contraction of 30 bps.

* Full Year FY26: The operating margin was 17.2%, an expansion of 15 bps over the previous year.

* Headwinds: Margin was impacted by the full absorption of the DTS HARMAN acquisition, salary increases effective March 1st and the initial lower-margin phase of newly won large deals.

* Future Goal: The management intends to maintain margin in a narrow band over the medium term by driving productivity through AI and optimising overheads.

Outlook & Guidance

* Q1 FY27 Revenue Guidance: Wipro expects sequential growth between - 2.0% and 0% in CC terms (USD 2.6 Bn to USD 2.7 Bn).

* Buyback: The Board approved a buyback of INR 15,000 Cr at INR 250 per share, marking the largest buyback in the company’s history.

* Order Booking: Q4 order bookings reached USD 3.5 Bn, including 14 large deals totalling USD 1.4 Bn. Strategic wins from April are expected to begin contributing to revenue by mid-Q1.

AI Initiatives

* AI-Native Business Unit: Launched a dedicated unit to accelerate enterprise-grade agentic AI solutions, focusing on repeatable deployments and nonlinear growth.

* Wipro Intelligence: This platform fabric, launched earlier, is now being integrated into core delivery through tools like WINGS (for operations) and WEGA (for software development) to drive productivity for both Wipro and its clients.

* Agentic AI: The management noted a shift in client focus towards agentic operations, where AI agents take proactive roles in business workflows.

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