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Wipro



Q3FY20 :


Price when result was announced : 257


Constant Currency Growth came at 2.9% YoY lowest in last 6 quarters.

America contribution has come down slightly though maintaining above 59% level.

BFSI Contribution is lowest in last 6 quarters at 30.9%

Active client count has increased on QoQ basis by 43 to 1070

Attrition Rate is at 15.7% that is lowest in last 8 quarters.


MAIN NEGATIVE :


Slower Revenue Growth with lower deal wins does not provide a positive outlook for next few quarters.

Though Attrition rate as consolidated but this can be due lower base and year end.


Recommendation : To Be Reviewed



Q2FY20 :


Price when result was announced : 243


- Constant currency growth came at 3.8% that is consecutive five quarter low.

- USA sales contribute 59.6% of total sales that is highest ever for the company.

- BFSI segment has been stable within range of 31.3% - 31.6% since last four quarters.

- Total active clients have reached at 1027 that is lowest number and it is important to get reversed.

- Attrition Rate is at 17% that is lowest since Q4FY2018.

- Balance Sheet is strong with good cash position even after completing big buyback and receivables are stable.


Recommendation : HOLD