Exhibit 99.5
WIPRO LIMITED
CIN: L32102KA1945PLC020800 ; Registered Office : Wipro Limited, Doddakanneli, Sarjapur Road, Bangalore—560035, India
Website: www.wipro.com ; Email id – info@wipro.com ; Tel: +91-80-2844 0011 ; Fax: +91-80-2844 0054
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2016
( in millions, except share and per share data, unless otherwise stated)
Quarter ended | Year ended | |||||||||||||||||||||||||
Particulars | March 31, 2016 | December 31, 2015 | March 31, 2015 | March 31, 2016 | March 31, 2015 | |||||||||||||||||||||
1 | Income from operations | |||||||||||||||||||||||||
a) Net Sales/income from operations (net of excise duty) | 137,417 | 129,516 | 121,714 | 516,307 | 473,180 | |||||||||||||||||||||
b) Other operating income | — | — | — | — | — | |||||||||||||||||||||
Total income from operations (net) | 137,417 | 129,516 | 121,714 | 516,307 | 473,180 | |||||||||||||||||||||
2 | Expenses | |||||||||||||||||||||||||
a) Cost of materials consumed | — | — | — | 2 | 34 | |||||||||||||||||||||
b) Purchase of stock-in-trade | 8,712 | 7,599 | 9,521 | 30,552 | 34,454 | |||||||||||||||||||||
c) (Increase)/Decrease in inventories of finished stock, work-in-progress and stock in process 717 (583) | (508 | ) | (605 | ) | (2,588 | ) | ||||||||||||||||||||
d) Employee benefit expense | 63,748 | 61,465 | 56,827 | 245,534 | 224,838 | |||||||||||||||||||||
e) Depreciation and amortisation expense | 4,304 | 3,764 | 3,267 | 14,965 | 12,823 | |||||||||||||||||||||
f) Sub contracting/technical fees/third party application | 19,918 | 17,410 | 13,395 | 67,769 | 52,303 | |||||||||||||||||||||
g) Other expenses | 15,182 | 15,987 | 14,656 | 61,069 | 55,893 | 15,182 | ||||||||||||||||||||
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Total expenses | 112,581 | 105,642 | 97,158 | 419,286 | 377,757 | |||||||||||||||||||||
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3 | Profit from operations before other income, finance costs and exceptional items (1-2) | 24,836 | 23,874 | 24,556 | 97,021 | 95,423 | ||||||||||||||||||||
4 | Other Income | 5,617 | 6,227 | 5,476 | 23,280 | 19,859 | ||||||||||||||||||||
5 | Profit from ordinary activities before finance costs and exceptional items (3+4) | 30,453 | 30,101 | 30,032 | 120,301 | 115,282 | ||||||||||||||||||||
6 | Finance Costs | 1,284 | 1,423 | 912 | 5,582 | 3,599 | ||||||||||||||||||||
7 | Profit from ordinary activities after finance costs but before exceptional items (5-6) | 29,169 | 28,678 | 29,120 | 114,719 | 111,683 | ||||||||||||||||||||
8 | Exceptional items | — | — | — | — | — | ||||||||||||||||||||
9 | Profit from ordinary activities before tax (7+8) | 29,169 | 28,678 | 29,120 | 114,719 | 111,683 | ||||||||||||||||||||
10 | Tax expense | 6,626 | 6,248 | 6,255 | 25,305 | 24,624 | ||||||||||||||||||||
11 | Net profit from ordinary activities after tax (9-10) | 22,543 | 22,430 | 22,865 | 89,414 | 87,059 | ||||||||||||||||||||
12 | Extraordinary items (net of tax expense) | — | — | — | — | — | ||||||||||||||||||||
13 | Net profit for the period (11+12) | 22,543 | 22,430 | 22,865 | 89,414 | 87,059 | ||||||||||||||||||||
14 | Share of Profit/(loss) of associates | — | — | — | — | — | ||||||||||||||||||||
15 | Minority interest | (193 | ) | (89 | ) | (145 | ) | (492 | ) | (531 | ) | |||||||||||||||
16 | Net profit after taxes, minority interest and share of profit of associates (13+14+15) | 22,350 | 22,341 | 22,720 | 88,922 | 86,528 | ||||||||||||||||||||
17 | Paid up equity share capital | 4,941 | 4,941 | 4,937 | 4,941 | 4,937 | ||||||||||||||||||||
(Face value 2 per share) | ||||||||||||||||||||||||||
18 | Reserves excluding revaluation reserves | 461,137 | 403,045 | 4,941 | ||||||||||||||||||||||
19 | EARNINGS PER SHARE (EPS) | |||||||||||||||||||||||||
(of 2/- each) (not annualised) | ||||||||||||||||||||||||||
Before extraordinary items | ||||||||||||||||||||||||||
Basic (in ) | 9.10 | 9.09 | 9.25 | 36.20 | 35.25 | |||||||||||||||||||||
Diluted (in ) | 9.08 | 9.07 | 9.21 | 36.12 | 35.13 | |||||||||||||||||||||
After extraordinary items | ||||||||||||||||||||||||||
(of 2/- each) (not annualised) | ||||||||||||||||||||||||||
Basic (in ) | 9.10 | 9.09 | 9.25 | 36.20 | 35.25 | |||||||||||||||||||||
Diluted (in ) | 9.08 | 9.07 | 9.21 | 36.12 | 35.13 |
1. | The consolidated interim financial results of the Company for the quarter and year ended March 31, 2016 have been approved by the Board of Directors of the Company at its meeting held on April 20, 2016. The statutory auditors have expressed an unqualified audit opinion on these financial results. |
2. | The above consolidated interim financial results have been prepared from the condensed consolidated interim financial statements, which are prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). |
3. | The total revenue from operations represent the aggregate revenue and includes foreign exchange gains/ (losses), net amounting to 1,093, 911 and 294 for the quarter ended March 31, 2016, December 31, 2015 and March 31, 2015, respectively, 3,867 and 3,637 for the year ended March 31, 2016 and March 31, 2015, respectively and is net of excise duty amounting to Nil, Nil and Nil for the quarter ended March 31, 2016, December 31, 2015 and March 31, 2015, respectively, Nil and 2 for the year ended March 31, 2016 and March 31, 2015. |
4. | List of subsidiaries as of March 31, 2016 are provided in the table below: |
Subsidiaries | Subsidiaries | Subsidiaries | Country of Incorporation | |||
Wipro LLC (formerly Wipro, Inc.) |
Wipro Gallagher Solutions, Inc.
Wipro Promax Analytics Solutions LLC [Formerly Promax Analytics Solutions Americas LLC] Infocrossing, Inc. Wipro Insurance Solutions LLC Wipro Data Centre and Cloud Services, Inc. (formerly Macaw Merger, Inc.) Wipro IT Services, Inc.
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Opus Capital Markets
HPH Holdings Corp.(A) | USA
USA
USA
USA
USA
USA
USA
USA USA | |||
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 |
Wipro Holdings UK Limited |
Wipro Information Wipro Digital Aps(A) | Mauritius
U.K. Austria
Denmark |
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Subsidiaries | Subsidiaries | Subsidiaries | Country of Incorporation | |||
3D Networks (UK) Limited Wipro Europe Limited Wipro Promax Analytics | U.K. U.K.
UK | |||||
Wipro Cyprus Private Limited |
Wipro Doha LLC# Wipro Technologies S.A DE C.V Wipro BPO Philippines LTD. Inc Wipro Holdings Hungary Korlátolt Felelősségű Társaság Wipro Technologies Argentina SA Wipro Information Technology Egypt SAE Wipro Arabia Limited* Wipro Poland Sp. Z.o.o Wipro IT Services Poland Sp. z o. o Wipro Technologies Australia Pty Ltd (formerly Promax Applications Group Pty Ltd) Wipro Corporate Technologies Ghana Limited Wipro Technologies South Africa (Proprietary) Limited
Wipro Information Technology Netherlands BV. |
Wipro Technologies Nigeria
Wipro Portugal S.A.(A) Wipro Technologies Limited, Wipro Technology Chile SPA Wipro Solutions Canada Wipro Information Technology Kazakhstan LLP | Cyprus Qatar Mexico
Philippines
Hungary
Argentina
Egypt
Saudi Arabia Poland Poland
Australia
Ghana
South Africa
Nigeria
Netherland
Portugal Russia
Chile Canada
Kazakhstan |
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Subsidiaries | Subsidiaries | Subsidiaries | Country of Incorporation | |||
Wipro Technologies SRL PT WT Indonesia Wipro Australia Pty Limited
Wipro (Thailand) Co Limited Wipro Bahrain Limited WLL Wipro Gulf LLC
Rainbow Software LLC
Cellent AG
| Wipro Technologies W.T. Sociedad Anonima Wipro Outsourcing Services (Ireland) Limited Wipro IT Services Ukraine LLC Wipro Technologies Norway AS Wipro Technologies VZ, C.A.
Wipro Promax Holdings Pty Ltd
Cellent Mittelstandsberatung GmbH Cellent AG Austria(A) | Costa Rica
Ireland
Ukraine
Norway
Venezuela Peru
Romania Indonesia Australia Australia
Thailand Bahrain Sultanate of Oman Iraq
Germany Germany
Austria | ||||
Wipro Networks Pte Limited (formerly 3D Networks Pte Limited)
| Wipro (Dalian) Limited | Singapore
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 Technology 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: |
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Subsidiaries | Subsidiaries | Subsidiaries | Country of Incorporation | |||
Wipro Information Technogoty Austria GmbH (Formerly Wipro Holdings Austria GmbH) |
Wipro Technologies Austria GmbH New Logic Technologies SARL |
Austria
Austria
France | ||||
Wipro Europe Limited (formerly SAIC Europe Limited)
| Wipro UK Limited | U.K.
U.K. | ||||
Wipro Portugal S.A. |
Wipro Retail UK Limited Wipro do Brasil Technologia Ltda Wipro Technologies Gmbh Wipro Do Brasil Sistemetas De Informatica Ltd | Portugal U.K. Brazil
Germany Brazil | ||||
Wipro Promax Holdings Pty Ltd (formerly Promax Holdings Pty Ltd) |
Wipro Promax IP Pty Ltd (formerly PAG IP Pty Ltd) | Australia
Australia | ||||
Wipro Digital Aps |
Designit A/S Designit Denmark A/S Designit Sweden AB Designit T.L.V Ltd. Designit Tokyo Ltd. Denextep Spain Digital, S.L | Designit Colombia S A S
| Denmark Denmark Denmark Germany Norway Sweden Israel Japan Spain Colombia
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Cellent AG Austria |
Frontworx Informationstechnologie AG | Austria Austria | ||||
HPH Holdings Corp. |
Healthplan Holdings, Inc. Healthplan Services Insurance Agency, Inc. Healthplan Services, Inc. Harrington Health Services Inc. | USA USA USA
USA USA |
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5. | Segment Information |
The Company is organized by the following operating segments; IT Services and IT Products.
IT Services: The IT Services segment primarily consists of IT Service offerings to customers organized by industry verticals as follows: 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), Global Media and Telecom (GMT). It also includes Others which comprises dividend income and gains or losses (net) relating to strategic investments, which are presented within “Finance and other income” in the statement of Income. Key service offering to customers includes software application development and maintenance, research and development services for hardware and software design, business application services, analytics, digital, consulting, infrastructure outsourcing services and business process services.
IT Products:The Company is a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to the above items is reported as revenue from the sale of IT Products.
The Chairman and Managing Director of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by IFRS 8, “Operating Segments”. The Chairman of the Company evaluates the segments based on their revenue growth and operating income.
Assets and liabilities used in the Company’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.
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Information on reportable segment for the quarter ended March 31, 2016, December 31, 2015 and March 31, 2015, and year ended March 31, 2016 and March 31, 2015 is as follows:
Quarter ended | Year ended | |||||||||||||||||||
March 31, 2016 | December 31, 2015 | March 31, 2015 | March 31, 2016 | March 31, 2015 | ||||||||||||||||
Particulars | Audited | Audited | Audited | Audited | Audited | |||||||||||||||
Revenue | ||||||||||||||||||||
IT Services | ||||||||||||||||||||
BFSI | 32,551 | 32,322 | 29,852 | 128,147 | 115,505 | |||||||||||||||
HLS | 16,905 | 14,719 | 13,171 | 58,358 | 49,884 | |||||||||||||||
RCTG | 19,721 | 19,158 | 16,258 | 74,372 | 62,209 | |||||||||||||||
ENU | 17,917 | 17,708 | 17,437 | 70,866 | 71,229 | |||||||||||||||
MFG | 24,109 | 22,683 | 20,582 | 90,877 | 80,303 | |||||||||||||||
GMT | 16,764 | 16,557 | 15,117 | 64,696 | 61,050 | |||||||||||||||
Others | — | — | ||||||||||||||||||
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Total of IT Services | 127,967 | 123,147 | 112,417 | 487,316 | 440,180 | |||||||||||||||
IT Products | 9,604 | 6,503 | 9,454 | 29,722 | 34,006 | |||||||||||||||
Reconciling Items | (154 | ) | (134 | ) | (157 | ) | (731 | ) | (1,004 | ) | ||||||||||
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Total | 137,417 | 129,516 | 121,714 | 516,307 | 473,182 | |||||||||||||||
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Segment Result | ||||||||||||||||||||
IT Services | ||||||||||||||||||||
BFSI | 6,997 | 7,199 | 7,474 | 28,143 | 27,378 | |||||||||||||||
HLS | 3,169 | 3,188 | 3,031 | 12,160 | 10,565 | |||||||||||||||
RCTG | 3,687 | 3,809 | 3,542 | 13,898 | 13,190 | |||||||||||||||
ENU | 3,638 | 3,436 | 4,078 | 14,382 | 17,561 | |||||||||||||||
MFG | 4,482 | 4,142 | 4,497 | 17,752 | 17,127 | |||||||||||||||
GMT | 3,389 | 3,093 | 2,878 | 12,317 | 13,574 | |||||||||||||||
Others | — | — | 583 | |||||||||||||||||
Unallocated | 303 | (47 | ) | (723 | ) | 1,064 | (2,329 | ) | ||||||||||||
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Total of IT Services | 25,665 | 24,820 | 24,777 | 99,716 | 97,649 | |||||||||||||||
IT Products | (290 | ) | (505 | ) | 58 | (864 | ) | 374 | ||||||||||||
Reconciling Items | (539 | ) | (441 | ) | (279 | ) | (1,831 | ) | (2,600 | ) | ||||||||||
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Total | 24,836 | 23,874 | 24,556 | 97,021 | 95,423 | |||||||||||||||
Finance Expense | (1,284 | ) | (1,423 | ) | (912 | ) | (5,582 | ) | (3,599 | ) | ||||||||||
Finance and Other Income | 5,617 | 6,227 | 5,476 | 23,280 | 19,859 | |||||||||||||||
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Profit before tax | 29,169 | 28,678 | 29,120 | 114,719 | 111,683 | |||||||||||||||
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Notes:
a) | ‘Reconciling items’ includes elimination of inter-segment transactions, dividend income/ gains/ losses relating to strategic investments and other corporate activities. |
b) | Segment result represents operating profits of the segments and dividend income and gains or losses (net) relating to strategic investments, which are presented within “Finance and other income” in the statement of Income. |
c) | Revenues include excise duty amounting to Nil, Nil and Nil for the quarter ended March 31, 2016, December 31, 2015 and March 31, 2015, respectively, Nil and 2 for the year ended March 31, 2016 and March 31, 2015. For the purpose of segment reporting, the segment revenues are net of excise duty. Excise duty is reported in reconciling items. |
d) | Revenue from sale of traded cloud based licenses is reported as part of IT Services revenues. |
e) | For the purpose of segment reporting, the Company has included the impact of ‘foreign exchange gains / (losses), net’ in revenues (which is reported as a part of operating profit in the statement of income). |
f) | For evaluating performance of the individual business segments, stock compensation expense is allocated on the basis of straight line amortization. The differential impact of accelerated amortization of stock compensation expense over stock compensation expense allocated to the individual business segments is reported in reconciling items. |
g) | For evaluating the performance of the individual business segments, amortization of intangibles arising out of business combinations are reported in reconciling items. |
h) | The Company generally offers multi-year payment terms in certain total outsourcing contracts. These payment terms primarily relate to IT hardware, software and certain transformation services in outsourcing contracts. Corporate treasury provides internal financing to the business units offering multi-year payments terms. The finance income on deferred consideration earned under these contracts is included in the revenue of the respective segment and is eliminated under reconciling items. |
6. | Business Combinations |
Cellent AG
On January 5, 2016, the Company obtained control of Cellent AG (“Cellent”) by acquiring 100% of its share capital. Cellent is an IT consulting and software services company offering IT solutions and services to customers in Germany, Switzerland and Austria. This acquisition is expected to provide Wipro with scale and customer relationships, in the Manufacturing and Automotive domains in Germany, Switzerland and Austria region.
The acquisition was executed through a share purchase agreement for a consideration of 5,800 (EUR 80.4 million).
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The following table presents the provisional allocation of purchase price:
Description | Pre-acquisition carrying amount | Fair value adjustments | Purchase price allocated | |||||||||
Net assets | 852 | — | 852 | |||||||||
Customer related intangibles | — | 1,001 | 1,001 | |||||||||
Brand | — | 317 | 317 | |||||||||
Deferred tax liabilities on intangible assets | — | (391 | ) | (391 | ) | |||||||
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Total | 852 | 927 | 1,779 | |||||||||
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Goodwill | 4,021 | |||||||||||
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Total purchase price | 5,800 | |||||||||||
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Net assets acquired include 367 of cash and cash equivalents and trade receivables valued at 1,389.
The goodwill of 4,021 comprises value of acquired workforce and expected synergies arising from the acquisition. Goodwill is not deductible for income tax purposes.
The pro-forma effects of this acquisition on the Company’s results were not material.
The purchase consideration has been allocated on a provisional basis based on management’s estimates. The Company is in the process of making a final determination of the fair value of assets and liabilities. Finalization of the purchase price allocation may result in certain adjustments to the above allocation.
Healthplan Services
On February 29, 2016, the Company obtained full control of HPH Holdings Corp. (“Healthplan Services”). HealthPlan Services offers market leading technology platforms and a fully integrated Business Process as a Service (BPaaS) solution to Health Insurance companies (Payers) in the individual, group and ancillary markets. HealthPlan Services provides U.S. Payers with a diversified portfolio of health insurance products delivered through its proprietary technology platform.
The acquisition was consummated for a consideration of 31,069 (USD 454.1 million) which includes a deferred earn-out component of 1,115 (USD 16.3 million), which is linked to achievement of revenues and earnings over a period of 3 years ending March 31, 2019. The fair value of the earn-out liability was estimated by applying the discounted cash flow approach considering discount rate of 14.1% and probability adjusted revenue and earnings estimates. This earn-out liability was fair valued at 536 million (USD 7.8 million) and recorded as part of preliminary purchase price allocation.
The following table presents the provisional allocation of purchase price:
Description | Pre-acquisition carrying amount | Fair value adjustments | Purchase price allocated | |||||||||
Net assets | 368 | 1,604 | 1,972 | |||||||||
Technology platform | 1,087 | 1,904 |
| 2,991 |
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Customer related intangibles | — | 5,853 |
| 5,853 |
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Non-compete agreement | — | 315 |
| 315 |
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Deferred tax liabilities on intangible assets | — | (3,066 | ) | (3,066 | ) | |||||||
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Total | 1,455 | 6,610 | 8,065 | |||||||||
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Goodwill | 22,425 | |||||||||||
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Total purchase price | 30,490 | |||||||||||
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Net assets acquired include 47 of cash and cash equivalents and trade receivables valued at 2,449.
The goodwill of 22,425 comprises value of acquired workforce and expected synergies arising from the acquisition. Goodwill is not deductible for income tax purposes.
The purchase consideration has been allocated on a provisional basis based on management’s estimates. The Company is in the process of making a final determination of the fair value of assets and liabilities. Finalization of the purchase price allocation may result in certain adjustments to the above allocation.
The pro-forma effects of this acquisition on the Company’s results were not material.
Viteos Group
On December 23, 2015, the Company entered into an agreement to acquire Viteos Group, a Business Process as a Service (BPaaS) provider for the alternative investment management industry for a purchase consideration of USD 130 million. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to be completed in the quarter ending June 30, 2016.
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7. | Statement of Assets and Liabilities |
( in million, unless stated otherwise) | ||||||||
As at | As at | |||||||
Particulars | March 31, 2016 | March 31, 2015 | ||||||
I.EQUITY AND LIABILITIES | ||||||||
1. Shareholder’s funds | ||||||||
Share capital | 4,941 | 4,937 | ||||||
Reserves and surplus | 461,137 | 403,045 | ||||||
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466,078 | 407,982 | |||||||
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2. Minority Interest | 2,224 | 1,646 | ||||||
3. Non- current liabilities | ||||||||
Long-term borrowings | 17,361 | 12,707 | ||||||
Deferred tax liabilities | 5,108 | 3,240 | ||||||
Other long term liabilities | 7,344 | 3,729 | ||||||
Long-term provisions | 8,245 | 6,700 | ||||||
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38,058 | 26,376 | |||||||
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4. Current liabilities | ||||||||
Short term borrowings | 107,860 | 66,206 | ||||||
Trade payables and accrued expense | 68,187 | 58,745 | ||||||
Other current liabilities | 34,237 | 29,525 | ||||||
Short term provisions | 8,277 | 9,553 | ||||||
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218,561 | 164,029 | |||||||
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TOTAL EQUITY AND LIABILTIES | 724,921 | 600,033 | ||||||
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Particulars | As at March 31, 2016 | As at March 31, 2015 | ||||||
IIASSETS | ||||||||
1. Non-current assets | ||||||||
Fixed assets | ||||||||
Tangible assets | 64,952 | 54,206 | ||||||
Intangible assets | 15,841 | 7,931 | ||||||
Goodwill | 101,991 | 68,078 | ||||||
Non-current investments | 4,907 | 3,867 | ||||||
Deferred tax assets | 3,800 | 2,945 | ||||||
Long-term loans and advances | 11,751 | 11,409 | ||||||
Other non-current assets | 16,088 | 15,105 | ||||||
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219,330 | 163,541 | |||||||
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2. Current assets | ||||||||
Current investments | 132,944 | 53,908 | ||||||
Inventories | 5,390 | 4,849 | ||||||
Trade receivables | 102,380 | 91,531 | ||||||
Cash and bank balances | 99,049 | 158,940 | ||||||
Short-term loans and advances | 7,812 | 6,490 | ||||||
Other current assets | 158,016 | 120,774 | ||||||
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505,591 | 436,492 | |||||||
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TOTAL ASSETS | 724,921 | 600,033 | ||||||
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8. | Subsequent Events |
On April 20, 2016, the Board of Directors of the Company declared a final dividend of 1 ($ 0.02) per equity share and ADR (50% on an equity share of par value of 2).
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 route 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.
By order of the Board, | For, Wipro Limited | |
Azim H Premji | ||
Place: Bangalore | Chairman & | |
Date: April 20, 2016 | Managing Director |
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