Wipro : Integrated Annual Report 2020-21(PDF)

Building a

Bold Tomorrow

INTEGRATED REPORT 2020-21

Contents

CORPORATE OVERVIEW

1. Building a Bold Tomorrow

1. About Wipro

1. Year at a glance

1. Financial Highlights

1. Performance by Capital

1. Message from the Chairman

1. Message from the CEO

1. Board of Directors

1. Wipro Executive Board

MANAGEMENT DISCUSSION & ANALYSIS

1. Industry Overview
2. Business Overview
3. Our Business Strategy

1. Operating Segment Overview

1. Risk Management Framework

1. Stakeholder Engagement and Materiality

CAPITALS

1. Financial Capital

1. Intellectual Capital

1. Social and Relationship Capital

1. Natural Capital

1. Human Capital

STATUTORY REPORTS AND FINANCIAL STATEMENTS

87 Board's Report

121 Corporate Governance Report

1. Standalone Financials under Ind AS

1. Consolidated Financials under Ind AS

1. Consolidated Financials under IFRS

1. Business Responsibility Report

1. Glossary

About Wipro	Year at a glance	Financial Highlights
Read more on Page 06	Read more on Page 08	Read more on Page 12

About the Report

We are happy to present our 6th Integrated Annual Report. This Annual Report includes financial and non-financialperformance of IT business and is aligned to principles of International Framework (December 2013) developed by the International Integrated Reporting Council (IIRC).

The report complies with financial and statutory data requirements of the Companies Act, 2013 (including the Rules made thereunder), Accounting Standards, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Secretarial Standards.

Reporting principles and framework

In addition, this report is aligned to GRI Standards* issued by Global Sustainability Standard Board (GSSB), Sustainability Accounting Standard Board (SASB), ISO 14064, United Nation Global Compact (UNGC) and Business Responsibility Report (BRR) requirements

of SEBI. The Natural Capital section of this report includes the recommendations set out by the Task Force on Climate-related Financial Disclosures (TCFD) and CDSB (Climate Disclosures Standards Board) framework.

Materiality

The topics covered in the report were identified through materiality determination exercise and stakeholder engagement process.

The report incorporates financial and non- financial information - governance, environmental and social - in a manner that can help stakeholders understand how a company creates and sustains value over the long term.

*Wipro ESG Dashboard is available at https://www.wipro.com/investors/annual-reports/

Building

Bold Tomorrow

A tomorrow built on the promise of technology, and the progress of all.

Where we can accelerate digital transformation, while transforming the ways we create meaningful impact.

At Wipro, we're helping leaders around the world harness the power of cognitive computing, robotics, cybersecurity, the cloud, and emerging technologies to transform their companies and communities into engines of growth.

We're reimagining the role of sustainability

• making it more than just a daily business practice, but a part of the company's enduring purpose.

With more than 200,000 employees across

55 countries, We're committed to creating a more resilient world - for business, and for all.

2020 - A Year of Bold changes

Innovation has always been a focus for Wipro, and 2020 made that focus urgent, more critical. We moved quickly to help our customers, employees, and communities adapt to the pandemic.

We also looked inward. As a global company, we have teams and customers around

the world who have been sharing their experiences, helping us identify strengths and weaknesses in our operations and develop truly impactful solutions that will transform Wipro into a more supportive, inclusive, and successful organization.

The result is a bold new Wipro, driven by a powerful strategy that balances ambitious business goals with a renewed commitment to empowering people. We are setting a high bar, committing ourselves to driving meaningful change and sustained growth in everything we do going forward.

Simplicity over perfection

Wipro Limited

Integrated Annual Report 2020-21

Transforming our workforce

During one of the most difficult years in recent history, we embarked on a radical transformation of the Wipro organization. We shifted to the new operating model, and have been receiving great feedback from internal teams, clients, investors, and analysts. We are also moving away from traditional delivery models, encouraging delivery leaders to adopt more flexible, powerful methods of working.

We appointed new leaders in many roles and significantly simplified the structure at the top. This is an impressive group of people, with fresh perspectives and a lot of experience to share with our teams and our clients. We are confident that their expertise will help us advance our strategy and provide the support and leadership that is essential for long-term growth.

Over the years, our mergers and acquisitions have created a vibrant community of diverse talent around the world. We are happy to continue that growth with our recent acquisitions of IVIA, 4C, Encore Theme, Eximius, CAPCO and Ampion. Acquiring CAPCO significantly strengthens our position in the global financial services market, and Ampion will help us expand our footprint in Australia, accelerating our growth in the Asia-Pacific region.

In April 2021, we fully integrated seven of our previously acquired companies and subsets of those individual brands. We now have almost everyone united under one Wipro brand - one identity, one mindset, one shared ambition. This move allows all of us to go to market as One Wipro.

Talent is essential to our new growth strategy. We are investing heavily in our teams and nurturing top talent. We have updated our competency development programs to keep our project, delivery, and program managers equipped with the latest skills.

We are leveraging TopGear and Topcoder to enable us and our clients to tap a global talent pool of Wipro employees, as well as a highly skilled external crowd, to execute even the most challenging projects. With remote work on the rise, crowdsourcing has potential to become a key delivery model. Wipro is a front- runner in the crowdsourcing space, and we intend to use our advantage to push more innovative solutions in with this delivery model.

Respect and inclusivity are fundamental to Wipro, but last year was a reminder that we can all do more. Our new approach to talent management focuses on increasing diversity throughout our organization and providing greater support across the board

This renewed focus on acquiring, developing, and maintaining talent will increase performance across our global teams, translating to greater innovation, efficiency, and quality.

In April 2021, we fully integrated seven of our previously acquired companies. We now have almost everyone united

to empower our employees and their growth.

under one Wipro brand

#OneWipro

Wipro is a global leader in IT services, and we intend

Empowering our clients

We now have all our colleagues from 4C, Appirio, Encore Theme, Eximius, Healthplan Services, IVIA and Opus united under #OneWipro brand.

to build on that reputation,

establishing our brand

and our clients as some of the most forward-thinking organizations in business today

Technology adoption increased significantly in 2020. As businesses responded to the pandemic, many began exploring new technologies or doubling down on earlier investments, accelerating digital transformations worldwide and driving demand

in areas like IT services. Across industries, companies are likely to continue investing in operational efficiency programs to reduce costs of operations, then reinvest the savings in transforming business models and leveraging new technologies.

Perhaps most importantly, consumers and businesses will increasingly make choices based on trust. Systems and data need to be secure,

reliable, and resilient. Similarly, customers will do business with people they trust.

Wipro is a global leader in IT services, and we intend to build on that reputation, establishing our brand and our clients as some of the most forward-thinking organizations in business today.

Guided by our new strategy, empowered leadership, and global talent, we will deliver more comprehensive digital solutions, push the envelope with better business practices and talent management, and make real progress in building a bold tomorrow.

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Building a Bold Tomorrow

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Driven to create a humane, sustainable and resilient future for all

Since our beginning, Wipro has been ​driven by the notion that purpose fuels our business, and our business fuels purpose. ​Energized by what we call The Spirit of Wipro, we commit ourselves to be a catalyst for building a just, equitable, humane and sustainable society.​We believe the "power to do good" stems from building deliberately designed, sustainable and locally relevant programs in the communities in which we operate. We are committed to using the same level of rigor, strategic thinking and critical evaluation in our development and implementation of these programs as we would in our business initiatives.

Economic value is

sustainable only if created on a foundation of ethics and responsibility.

Azim Premji, Founder Chairman

Transforming our culture

The Five Habits is our culture transformation initiative. These habits - Being Respectful, Being Responsive, Always Communicating, Demonstrating Stewardship and Building Trust - are our values in action, and represent how we experience Wipro every day.

In a world defined by change and complexity, the Five Habits instill our commitment to each other and to the communities which we belong. They drive us towards building a growth mindset, a continued culture transformation that sets the foundation of who we are, how we behave and who we aspire to be.

At Wipro, we believe that our leaders are the most visible examples of our culture. And with this initiative, we encourage every leader to exemplify the fundamental behaviors aligned to each of the Five Habits, demonstrate them to their teams, and to embody these behaviors every day, in every aspect of their roles.

Wipro Limited

Integrated Annual Report 2020-21

1 Being Respectful

2 Being Responsive

The Five		Always
Habits are	3
our values in	Communicating

action

4 DemonstratingStewardship

5 Building Trust

Meeting the moment

Wipro is dedicated to being a responsive and good corporate citizen in times of crisis.​The COVID-19 pandemic is taking a tremendous toll on our society, devastating lives and our global economy.​Wipro and the Azim Premji Foundation moved swiftly to help lead the response to the pandemic around​the world.

After Wipro converted its Pune campus to a COVID-19 hospital, it found that vital information from various medical stakeholders was disorganized and hard to access. This led Wipro to build the Global Coalition for COVID-19 Medical Care (GCCMC), a knowledge-sharing platform created for doctors, dedicated to education, efficiency, and improved outcomes.​Wipro also reached out to

13 million beneficiaries throughout India with supply of dry rations and hygiene kits.

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Building a Bold Tomorrow

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