Wipro : Integrated Annual Report 2023-24

F U E L I N G T H E N E X T WAV E

O F A I P O W E R E D I N N O VAT I O N

Ambitions Realized.

Contents

Reporting Context	Corporate Overview	Performance and Outlook
01	About the Report	04	About Wipro	24	Year at a Glance
02	Fueling the Next Wave of	05	Our Offerings	26	Chairman's Letter to Stakeholders
	AI-Powered Innovation	15	Client Stories	28	CEO's Letter to Stakeholders
		18	Rewards and Recognition	30	Financial Performance
		22	Board of Directors	32	Management Discussion
					and Analysis

Sustainability at Wipro	Value Creation for	Risk Management
38	ESG Strategy and Governance	Stakeholders	92 Risk Identification and Mitigation
40	Stakeholder Engagement	48	Investor Returns	96 Key Financial and Market Risks
42	Materiality Assessment	97 Climate and ESG Risk Assessment
56	Customer Stewardship
44	Impact Valuation Report
60	Supplier Synergies
46	Value Creation Model
64	Community Initiatives
		74	Environmental Sustainability
		84	People Practices

About the Report

We are happy to present our 9th Integrated Annual Report. This Report includes financial and non-financial performance of IT business and is aligned to principles of Integrated Framework (updated January 2021), now part of IFRS Foundation.

Reporting Framework

In addition, this Report is aligned to GRI Standards issued by Global Sustainability Standards Board (GSSB), Sustainability Accounting Standards Board (SASB), ISO 14064, United Nation Global Compact (UNGC), WEF Stakeholder Capitalism metrics and Business Responsibility and Sustainability Report (BRSR) requirements of Securities and Exchange Board of India (SEBI). The Environmental Sustainability section of this report includes the recommendations set out by the Task Force on Climate-related Financial Disclosures (TCFD).

Reporting Scope and Boundary

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, as may be applicable.

Navigate our Report

Capitals Impacted

Financial Manufactured Human

Social and	Intellectual	Natural
Relationship

Read more on the Value Creation Model on page 46

Stakeholder Groups

Employees Investors Customers

Suppliers	Govt. and	CSR
	Policy Network

Statutory Reports and Financial Statements

100	Board's Report	352	Consolidated Financials
129	Corporate Governance Report		under IFRS
156	Standalone Financials under	442	Business Responsibility and
	Ind AS		Sustainability Report 2023-24

247 Consolidated Financials under Ind AS

For more information visit:

Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro	Value Creation for Stakeholders	Risk Management	Statutory Reports and Financial Statements

Fueling the Next Wave

of AI-Powered Innovation

Helping Clients Build Future-Ready Businesses.

ai360: Fueling the Next Wave of Innovation

Wipro ai360 initiative is designed to help enterprises capitalize on the true value of AI. With AI infused into every part of the ecosystem, Wipro serves as a true orchestrator, helping enterprises leap into the future. While AI is not new, businesses around the world are increasingly recognizing the transformative abilities of AI and the art

55,000+

Ecosystem Practitioners

450+

We are a leading technology services and consulting company focused

developing new R&D and platforms through Lab45, upskilling and reskilling

of possible when we combine human ingenuity with AI- powered technology.

Patents

on building innovative solutions that address our clients' most complex digital transformation needs.

From generative AI and immersive experiences to data, from silicon chip design to blockchain, our consultants, analysts, designers, and engineers work on solutions that unlock our clients' boldest ambitions.

our talent for an AI-first era, as well as enhancing Wipro FullStride Cloud and Consulting capabilities.

Recognizing that the future hinges not just on cutting-edge technology, but also on the human capital that will wield it, Wipro has so far trained over 225,000 employees on basic GenAI fundamentals and more than 30,000

Speed at scale	Decisions with confidence
Data-driven insights	Ambitions realized

Our team is made up of data scientists, data architects, business and domain specialists, visualisation and design specialists, technologists, and application engineers.

400+

AI Use Cases

Building on Wipro's decade-long investments, in 2023, Wipro launched the ai360 innovation ecosystem, with responsible AI at the core. Wipro's ai360 initiative focuses on expanding AI, data and analytics solutions,

employees on more advanced levels of AI based on roles and personas. Further, Wipro is working with its ai360 ecosystem of partners, such as AWS, Google, IBM, Microsoft, and Nvidia, to provide associates with ongoing specialized learning pathways.

The goal is to infuse AI into all our processes and tools, empowering our workforce to enhance productivity and value, but also significantly improve the employee and customer experiences across the organization.

Building a Better World

The belief that our purpose fuels our business and our business fuels our purpose has been our guiding force since the very beginning. We commit ourselves to be a catalyst in the building of a just, equitable, humane, and sustainable society. Wipro is majority- owned by a non-profit philanthropic foundation - the Azim Premji Foundation, and we care deeply about facilitating actionable transformation for our clients, our communities and the environment.

As one of the ten founding members of 'Transform to Net Zero', our commitment is deep and authentic. We realize it by helping clients turn sustainability ambition into action.

The year 2024 marks our 79th anniversary of being in business. We are proud of this amazing milestone, which is a testament to the hard work, commitment, and creativity of our employees. They are the driving force behind Wipro's success.

76%

Renewable Energy

(% of total consumption)

94%

Waste Avoided from being

Sent to Landfills

35%

Water Re-used

(% of total water consumption)

2	Ambitions Realized.

Integrated Annual Report 2023-24

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Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro	Value Creation for Stakeholders	Risk Management	Statutory Reports and Financial Statements

About Wipro

We are a leading information technology services and consulting company, focused on building innovative solutions to unlock our clients' boldest ambitions. Anchored in our vision to become an AI-centric organization, we leverage our comprehensive portfolio of capabilities in consulting, design, engineering, and operations to offer tailored solutions that address our clients' most complex digital

Our Offerings

Our IT service offerings are categorized under four Global Business Lines (GBLs), designed to drive focused growth in our priority markets. The offerings combine global expertise with local geo-focus in building capabilities while ensuring a dedicated sales presence closely aligned with the needs and preferences of our clients.

transformation needs. With a global workforce of over 230,000 committed individuals across 65 countries, we fulfil our promise of helping our customers, colleagues, and communities thrive in an ever-changing world.

Spirit of Wipro

Habits in Action

Wipro FullStride Cloud

Brings our entire suite of strategic cloud expertise and capabilities under a fully integrated, full stack offering creating an end-to-endAI-powered cloud services delivery engine.

Read more page 06

Wipro Enterprise Futuring

Offers clients forward-looking,AI-powered solutions for large-scale enterprise transformation by bringing together intelligence insights, enterprise data, applications platforms, digital operations, and cybersecurity risk services.

Read more page 08

The Spirit of Wipro is at our core. It is about who we are and what we aspire to be. It is the compass that guides our actions towards creating a positive global impact. We believe limitless potential is realized when our customers' ambition meets the actions of our innovative and talented workforce. These values constitute the bedrock of our culture and define who we are.

Our Values

Throughout the evolution of our Company, the Spirit of Wipro and our core values have remained constant. To ensure consistency, we introduced 'Five Habits', which represent our values in action.

Being respectful

Being responsive

Wipro Engineering Edge

Expands our capabilities and services in emerging technologies such as Data and AI platforms engineering, Cloud, 5G, Industry 4.0, IoT, Silicon Design, and Embedded systems.

Read more page 10

Wipro Consulting

Brings together Capco, Designit, and Wipro's domain and consulting business under a global business line, driving enhanced experience sharing between these independent units.

Read more page 12

Be passionate about clients' success Treat each person with respect

Be global and responsible

Unyielding integrity in everything we do

Always communicating

Demonstrating stewardship

Building trust

Our GBL model reflects the Company's continued pivot toward strategic areas and its focus on leveraging the power of 'One Wipro' to deliver on our clients' entire spectrum of business and technology transformation goals. This will accelerate speed-to-market, streamline decision making and allow us to channel investments more effectively and efficiently

4	Ambitions Realized.

Integrated Annual Report 2023-24

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Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro	Value Creation for Stakeholders	Risk Management	Statutory Reports and Financial Statements

Wipro

FullStride

Cloud

Wipro FullStride Cloud brings Wipro's entire suite of strategic cloud expertise and capabilities under a fully integrated full stack offering accelerating business transformation, boosting productivity, simplifying processes and increasing efficiency by harnessing the power of AI.

Cloud-native applications, cloud architecture, app modernization, cloud strategy and migration, as well as hybrid cloud, data center, digital workplace and infrastructure security constitute a comprehensive set of services to transform business operations and drive growth.

We build powerful and differentiated solutions for our clients looking

to accelerate their digital transformation journey with cloud. Wipro FullStride Cloud includes:

Wipro Digital and Cloud (WDC)

WDC is a unified, comprehensive and integrated approach that delivers a single source of truth for clients to achieve the greater potential afforded by the cloud. It works at the cusp of strategy, design and technology while orchestrating across the cloud journey.

Cloud and Infrastructure Services (CIS)

CIS partners with organisations to modernize their IT landscape by unlocking the transformative opportunities powered by the cloud and AI. We help build business agility and improve operational efficiency to uncover new opportunities for innovation through our offerings in cloud, data center and hybrid cloud, DevOps, end-user computing, networking, and IoT across consulting, system integration, testing, and managed services.

The pace of AI development is accelerating rapidly. Wipro FullStride Cloud has the expertise and enhanced capabilities to lead our clients in helping them navigate how to build, use, and successfully adopt AI and Generative AI. Our focus on use cases that mitigate risk, are currently in- market and help our client realize their ambitions, will create bold moves and real business value.

Services

Advisory	Migration	Infrastructure	Cloud
& Consulting	& Modernization	Services	Security

AI

Cloud Studio

Industry Cloud

Cloud Assurance

Cloud Business
Applications	Cloud Native	Digital Workplace	Cloud Operations

6	Ambitions Realized.

Integrated Annual Report 2023-24

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Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro	Value Creation for Stakeholders	Risk Management	Statutory Reports and Financial Statements

Wipro

Enterprise

Futuring Wipro Enterprise Futuring offers clients forward-looking,

AI-powered solutions for large-scale enterprise transformation by bringing together intelligence insights, enterprise data, applications platforms, digital operations, and cybersecurity and design and experience services.

Enterprise Applications (EA)

Our EA team guides enterprises in their journey towards application modernisation and experience transformation by providing innovative AI, cloud solutions, and architecture strategies, and executing these strategies through our enterprise partner expertise such as SAP, Oracle, Salesforce, ServiceNow, and MS Dynamics.

Data, Analytics, and Artificial Intelligence (DAAI)

DAAI helps clients in their business transformation and generating higher value by infusing data and AI across the value chain. We work with clients to get their data and process ready for the future by formulating the data for decisions strategy and using business analytics and data economics. These benefits are accelerated by industry and persona-centric,ready-to-deploy solutions that are

Cybersecurity and Risk Services (CRS)

CRS is a next-generation cybersecurity offering that seamlessly integrates the business needs of today with the future needs of tomorrow. Our CyberSecurists help customers achieve a resilient cyber future through advisory-led security and risk management solutions, balancing adoption of AI while addressing risk, security and governance. For us, cyber defense is not just proposals and promises, or simply keystrokes and code. It is pure, cutting-edge security in action delivered with genuine expertise.

Digital Operations and Platforms (DOP)

DOP technology solutions build agile, intelligent, AI-powered and automated processes to help enterprises drive differentiated customer experiences with an outcome-driven approach. With powerful business intelligence at its core, we help unlock the human potential needed to drive innovation and accelerate newer and faster responses to the ever-evolving market needs.

powered by responsible AI.

Digital Experience (DX)

Strategic transformation partner blending strategy, design, data & engineering to create experiences that consumers love. We partner with organizations to create multi-experiences for their customers, employees & partners across digital touchpoints and channels. Engagements include both defining and engineering digital platforms to deliver contextual & seamless experiences across the value chain of marketing, sales, and service.

8	Ambitions Realized.

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Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro	Value Creation for Stakeholders	Risk Management	Statutory Reports and Financial Statements

Wipro

Engineering

Edge

Wipro Engineering Edge delivers value at every stage of the product and platform development lifecycle - empowering clients to innovate at scale and to build a competitive edge in the market. Our capabilities include some of the most foundational technologies reshaping the world today - in AI, 5G, and silicon chip engineering.

10

Our comprehensive engineering and R&D portfolio spans an ecosystem, including an international strategic product-design house, a leader in semiconductor and systems design, and a world class lab facility and network. Our sector-specific product designers, process experts, and hardware and software engineers, work across all stages of the product lifecycle for our clients.

Wipro Engineering Edge is powered by our six service lines:

Communications and Connectivity

Enables innovations in wired, wireless, 5G, enterprise networks, and AI-powered networking and network operations for providing clients cutting-edge solutions for 5G infrastructure development, open-radio access network (ORAN) integration, network disaggregation and management, network automation, and device and network certification and assurance to network equipment providers, communications service providers, and enterprise customers.

Ambitions Realized.

Industry 4.0

Enables the complete industrialisation of product development, connected with global processes, to reimagine go-to-market strategies, rethink customer engagement approaches, and deploy intelligent products, operations and assets by adopting a Smart, Digital, and Intelligent ('SDI') approach for transforming the entire value chain from 'source-to-design' to 'build-to-consume' stages.

Cloud Products and Platforms

Enables clients to sharpen their competitiveness by building, and modernising, products and services on cloud-native platforms - taking advantage of native Cloud, AI, Data, and Security engineering technologies to create multi-tenant, internet scale, high-performance software- defined products, platforms and services and cognitive systems and enterprise brains.

We optimise operational and cloud spend by exploring avenues to optimise operating expenses on consumption costs and product operations through multi/hybrid/alternate cloud options and reliability solutions.

Embedded Software and Systems Engineering

Enables the development of self-contained hardware computing systems, with embedded software, in a lightweight, real-time, and resource constrained operating environment, to execute specific, and dedicated functions, ranging from automotive vehicle function and safety control features, to medical imaging and monitoring,

to smart home and industrial manufacturing automation, to all kinds of consumer and personal electronics control features.

Integrated Annual Report 2023-24

Silicon and Platform

Software Engineering

Builds ever smaller and faster silicon chips - the new oil for the digital age - and the platform software to harness the compute capabilities to power everything from cars to the cloud, and pacemakers to power plants. Develop,

as one of the world's leading design service providers, ASIC, SoC, FPGA, Chiplet and other IC products, and deliver, through our fabrication and ecosystem partnerships, turnkey designs to customers. Enable the release of platform software to provide software programmable, industry-specific, functionalities.

Automotive Engineering

Our AI-anchored Cloud Car platform, and partner ecosystem, enable automotive OEMs, and automotive suppliers, to make the leap to next-generation automotive vehicle platforms, and business models, by engineering transformational technologies and systems around electrification, software-defined and connected vehicles, autonomy and advanced driver assistance, and infotainment and software marketplaces.

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Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro

Wipro Consulting

12

Wipro Consulting helps business leaders respond to their customers' needs by driving digital-first transformation from operations to technologies to people, evaluating customers' problems and crafting innovative solutions that involve the use of technologies like Cloud, AI, 5G and robotic automation. It brings together Capco, Designit, and Wipro's Domain and Consulting business, driving enhanced experience sharing.

Capco

Capco is a global management and technology consultancy specializing in driving transformation in the financial services and energy industries. Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for the banking and payments, capital markets, wealth and asset management, insurance, and the energy sectors.

Designit

Designit provides design-led transformation solutions that better connect brands, organizations, and businesses to their end customers through

a global team of researchers, analysts and design visionaries.

Wipro Domain and

Consulting

Domain and Consulting brings our deep industry and consulting expertise to clients across the globe to reinvent how sectors build and operate their organizations in the future to secure growth and new leaner operating models, while supporting clients to manage their organizational change.

Ambitions Realized.

Value Creation for Stakeholders

Risk Management

Statutory Reports and Financial Statements

Wipro

Gen AI

We are driving the next wave of AI innovation by integrating AI into every tool, platform, and business function across our ecosystem. We combine our AI capabilities, talent, and technology to help clients seamlessly incorporate AI throughout their organizations. We believe that blending human ingenuity with AI-powered technology is the key to unlocking AI's full potential.

GenAI unlocks insights from unstructured data (notes, images, charts) and streamlines operations. Imagine AI-powered contact centres that improve efficiency, reduce costs, and enhance service. Wipro's collaboration with Nvidia focuses on just that, using GenAI to streamline healthcare contact centres. This includes tasks like processing complex documents, optimizing call processing with real-time transcriptions, and integrating speech and translation for a truly holistic solution.

For financial services, our GenAI solution, powered by Microsoft, empowers financial advisors and bankers with faster market and product intelligence. This translates to personalised client service and streamlined onboarding and loan origination processes, freeing up valuable time for human interaction.

WeGA Studio

Wipro Enterprise Gen AI Studio (WeGA Studio) accelerates custom AI solution deployment, enhancing enterprise AI adoption. It comprises best practices, tools, and accelerators across three GenAI stack layers.

Key features include robust security, application templates, pre-built accelerators, advanced models, domain guardrails, explainable AI, continuous model tuning, data engineering, automated compliance checks, and optimized performance. WeGA shortens AI project time-to-value, leveraging Wipro's expertise to address market-specific challenges efficiently.

Integrated Annual Report 2023-24

Wipro AI Solutions

Wipro's AI Solutions practice boasts 1,200+ accelerators, tools, and use case capabilities, facilitating AI-driven solution development across diverse domains. It empowers organizations to automate processes, analyze data, and improve decision-making. With scalable, secure offerings, it drives operational efficiency, enhances customer experiences, and fosters innovation across industries. From Manufacturing to BFSI and beyond,

its vertical and horizontal domain applications cater to varied AI requirements. These include AI suites for supply chain management, customer support, sales forecasting, compliance support, medical research, energy analysis, IT innovation, marketing support, legal risk assessment, ESG tracking, HR assistance, operational optimization, and financial analysis.

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Reporting Context	Corporate Overview	Performance and Outlook	Sustainability at Wipro

InspectAI

Wipro's InspectAI revolutionizes asset inspection management for industries like oil and gas, utilities, and manufacturing. It enables comprehensive and frequent asset inspections, generating valuable historical data and assessing asset conditions to proactively trigger maintenance workflows using anomaly prediction capabilities. This shifts enterprises from reactive to predictive maintenance, enhancing asset integrity and workplace safety. Key features include comprehensive image acquisition from various sources, advanced anomaly detection algorithms, a cloud-agnostic and scalable solution, dynamic report generation, integration with systems like IBM Maximo and SAP EDMS, and 360-degree visualizations with 3D point cloud/digital twin capabilities. Benefits include accelerated results, increased accuracy, decreased carbon footprint and operating costs, improved data quality, enhanced standardization, safety, automation, reduced risk of environmental incidents, boosted efficiencies, and lowered operating costs with better compliance through best practice sharing.

ai360 is our comprehensive, AI-first innovation ecosystem with a focus on driving exponential productivity and transformation for our customers across industries by bringing together our AI capabilities, talent and technology. With responsible AI at the core, we are infusing AI into tools, platforms,

and solutions, across business functions, processes, and practices.

Intelligent Data Processing (IDP)

Wipro's IDP Platform is a robust and advanced solution for optimizing data processing operations. Leveraging AI, machine learning, and automation, it enhances efficiency and accuracy in data tasks. By integrating intelligent automation and cognitive capabilities, IDP automates repetitive activities, extracts insights from unstructured data, and improves data quality. This empowers businesses to make informed decisions, drive operational excellence, and gain a competitive edge. Key features include document digitization, annotation, classification, data point extraction, support for multiple formats, analytics and insights, and seamless integration with downstream ERP systems. The platform supports both structured and unstructured documents, ensuring comprehensive data processing and management for diverse business needs.

14	Ambitions Realized.