This is a routine annual report filing with no material new disclosures relative to known quarterly results. The headline revenue growth is driven by FX and acquisitions, while organic IT Services CC revenue declined, and operating margins compressed. The large buyback signals management's confidence in cash generation but does not offset the underlying organic decline. Traders should monitor upcoming Q1 FY27 earnings for signs of organic revenue stabilization and margin trajectory.
Price Chart
Executive Summary
Wipro filed its Integrated Annual Report for FY2025-26 via a 6-K (procedural filing), providing the notice of AGM and the full annual report. The report shows total revenue up 4.17% to INR 928,093 million, but IT Services constant-currency revenue declined 1.6%. Operating margin slipped 68 bps to 16.30%. Profit attributable to equity holders was flat at INR 131,974 million. The company's Board approved a INR 150 billion share buyback (the largest in its history). This filing is largely a backward-looking compilation with no new material disclosure relative to known quarterly results. The cross-filing actuarial verdicts flag a 6k-annual-context AMPLIFIER, but the routine nature of the filing keeps impact modest.
Key Facts
- Total revenue increased 4.17% to INR 928,093 million (FY26 vs FY25).
- IT Services constant-currency revenue declined 1.6% to $10,478 million.
- Operating margin decreased 68 bps to 16.30%.
- Profit attributable to equity holders was nearly flat at INR 131,974 million (+0.47% YoY).
- Total bookings grew 14% to $16.4 billion; large deal TCV grew 45.4% YoY to $7.8 billion.
- Board approved a INR 150 billion share buyback (up to 600 million equity shares at INR 250/share).
- Capital allocation policy revised: expects to return 70%+ of net income cumulatively over a three-year period.
- Dividend per share for FY26 was INR 11 (interim), with payout ratio of 87.8% on a trailing 3-year block basis.
- AI-Native Business & Platforms Unit launched in April 2026.
- Acquisition of HARMAN's Digital Transformation Solutions (DTS) business completed in December 2025 for $375 million.
Financial Impact
FY26 revenue INR 928,093M (+4.17% reported); IT Services revenue $10,478M (-1.6% CC); operating margin 16.30% (-68bps); profit INR 131,974M (+0.47%). INR 150B buyback announced (up to 5.72% of equity).
Risk Factors
- Organic IT Services revenue declining in constant currency (-1.6% YoY) amid macro uncertainty and client discretionary spending caution.
- Operating margin compression (-68bps) driven by wage inflation, restructuring costs, and new labor code implementation.
- Dilution from INR 150B buyback execution; execution risk on AI-native platform monetization.
- Geopolitical/tariff risks impacting client discretionary spending and pricing competition.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-281751 |
| Document: d154883d6k.htm | 0001193125-26-281751 |
| Document: 0001193125-26-281751-index-headers.html | 0001193125-26-281751 |
| Document: 0001193125-26-281751-index.html | 0001193125-26-281751 |
| Document: 0001193125-26-281751.txt | 0001193125-26-281751 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 20, 2026 10w ago | 6-K | $1.85 $1.91 | ▲ +3.24% | ▼ −0.88% | $1.72 (−7.03%) |
Jul 20, 2026 10w ago | 6-K | $1.85 $1.91 | ▲ +3.24% | ▼ −0.88% | $1.72 (−7.03%) |
Jul 2, 2026 13w ago | 6-K | $1.89 $1.95 | ▲ +3.17% | ▲ +3.59% | $1.72 (−8.99%) |
Jun 26, 2026 14w ago | 6-K | $2.17 $1.87 | ▼ −13.82% | ▼ −13.55% | $1.72 (−20.74%) |
Jun 25, 2026 14w ago | 6-K | $2.19 $1.78 | ▼ −18.72% | ▼ −19.25% | $1.72 (−21.46%) |
Jun 25, 2026 14w ago | 6-K | $2.19 $1.78 | ▼ −18.72% | ▼ −19.25% | $1.72 (−21.46%) |
Jun 25, 2026 14w ago | 6-K | $2.19 $1.78 | ▼ −18.72% | ▼ −19.25% | $1.72 (−21.46%) |
Jun 11, 2026 16w ago | Institutional Cluster | $2.15 $1.85 | ▼ −13.95% | ▼ −15.84% | $1.72 (−20.00%) |
Jun 9, 2026 16w ago | 6-K | $2.10 $1.85 | ▼ −11.90% | ▼ −15.53% | $1.72 (−18.10%) |
Jun 2, 2026 17w ago | 20-F | $2.13 $1.89 | ▼ −11.27% | ▼ −10.27% | $1.72 (−19.25%) |
US Market Status
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