Indian MNC Wipro Pvt. Ltd.
Wipro Limited (Western India Products Limited) is an Indian multinational IT Consulting and System Integration services company headquartered in Bangalore, Karnataka. As of March 2014, the company has 146,000 employees servicing over 900 large enterprise & Fortune 1000 corporations with a presence in 61 countries. On 31 March 2014, its market capitalisation was approximately 1.27 trillion ($20.8 billion), making it one of India’s largest publicly traded company and seventh largest IT services firm globally.
To focus on core IT Business, it demerged its non-IT businesses into a separate company named Wipro Enterprises Limited with effect from 31 March 2013. The demerged company offers consumer care, lighting, healthcare and infrastructure engineering and contributed to approx. 10% of the revenues of Wipro Limited in previous financial year. Recently Wipro has also identified Brazil, Canada & Australia as rapidly growing markets globally and has committed to strengthen the presence in the respective countries over the next 3 years.
Early formative years
The company was incorporated on 29 December 1945, in Mumbai by Mohamed Premji as ‘Western India Vegetable Products Limited’, later abbreviated to ‘Wipro’. It was initially set up as a manufacturer of vegetable and refined oils in Amalner.
In 1966, after Mohamed Premji’s death, his son Azim Premji returned home from Stanford University and took over Wipro as its chairman at the age of 21.
During the 1970s and 1980s, the company shifted its focus to new business opportunities in the IT and computing industry, which was at a nascent stage in India at the time. On 7 June 1977, the name of the company changed from Western India Vegetable Products Limited, to Wipro Products Limited. The year 1980 marked the arrival of Wipro in the IT domain. In 1982, the name was changed from Wipro Products Limited to Wipro Limited.
In 1988, Wipro diversified its product line into heavy-duty industrial cylinders and mobile hydraulic cylinders. A joint venture company with the United States’ General Electric in the name of Wipro GE Medical Systems Pvt. Ltd. was set up in 1989 for the manufacture, sales, and service of diagnostic and imaging products. Later, in 1991, tipping systems and Eaton hydraulic products were launched. The Wipro Fluid Power division, in 1992, developed expertise to offer standard hydraulic cylinders for construction equipment and truck tipping systems. The market saw the launch of the “Santoor” talcum powder and “Wipro Baby Soft” range of baby toiletries in 1990.
In 1994, Wipro set up an overseas design centre, Odyssey 21, for undertaking projects and product developments in advanced technologies for overseas clients.In 1999, Wipro acquired Wipro Acer. Wipro became a more profitable, diversified corporation with new products such as the Wipro SuperGenius personal computers (PCs). In 1999, the product was the one Indian PC range to obtain US-based National Software Testing Laboratory (NSTL) certification for the Year 2000 (Y2K) compliance in hardware for all models.
In February 2002, Wipro became the first software technology and services company in India to be certified for ISO 14001 certification. Wipro also achieved ISO 9000 certification to become the first software company to get SEI CMM Level 5 in 2002. . The year 2008 saw Wipro’s foray into the clean energy business with Wipro Eco Energy. In April 2011, The year 2012 saw Wipro make its 17th acquisition in IT business when it acquired Australian analytics product firm Promax Applications Group (PAG) for $35 million. Wipro is the No. 1 employer of H-1B visa professionals in the United States in 2012.
Wipro Group of Companies
Wipro Limited is a global company provider of comprehensive IT solutions and services, including Systems Integration, Consulting, Information Systems outsourcing, IT-enabled services, and R&D services.
Wipro Enterprises Ltd.
Wipro Consumer Care & Lighting
Wipro Infrastructure Engineering
Wipro GE Medical Systems Limited
At the end of FY 2013-14, its employee strength was 146,053. Its global workforce consists of 98 nationalities working from 61 countries. Approx. 8.5% of its workforce is non-Indian. The average age of a Wipro employee is 29 years. The attrition rate for 2013-14 was 15.1%. During 2012-13, the company incurred 180 billion on employee benefit expenses.
Awards and recognitions
- In May 2013, it was ranked 812th on the Forbes Global 2000 list.
- Wipro was ranked 2nd in the Newsweek 2012 Global 500 Green companies.
- It was recognized by the Ethisphere Institute as one of the World’s Most Ethical (WME) Companies in 2013, for the second year in a row.
- Wipro received the ‘NASSCOM Corporate Award for Excellence in Diversity and Inclusion, 2012′, in the category ‘Most Effective Implementation of Practices & Technology for Persons with Disabilities’.
- In 2012, it was awarded the highest rating of Stakeholder Value and Corporate Rating 1 (SVG 1) by ICRA Limited.
- It received National award for excellence in Corporate Governance from the Institute of Company Secretaries of India during the year 2004.