# Day 58 — YouTube 自动生成字幕（AUTO_GENERATED）

覆盖训练段 000–15 分钟。已去滚动字幕重叠。ASR 生成可能含识别错误。

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Welcome everyone to Wipro's fourth quarter earnings press conference. For those of us who are joining virtually, good morning, good afternoon, good evening. evening. My name is Nisha Chandrasekaran and I will be your moderator for today. Joining me on stage is our Chief Financial Officer, Aparna Iyer, our Chief Executive Officer and Managing Director, Thierry Delaporte, Director, Thierry Delaporte, and our Chief Human Resources Officer, Saurabh Govil. Saurabh Govil. We will begin with opening remarks from our CEO, followed by a financial review from our CFO. from our CFO.

Post that, we'll open the floor for your questions. questions. With that, let me invite our CEO and Managing Director, Thierry Delaporte. I think I think it's reverse. It's coming reverse. Thank you. Thank you. Hello everyone and thank you for joining us today. Let me begin with a broader environment. Geopolitical and policy disruptions have become the new normal and I'm sure you know this more than me. Trade rules are changing, tighter immigration policies, tighter immigration policies, and of course, conflicts continue to create uncertainties for industries and

economies. Despite these headwinds, Despite these headwinds, IT spending has shown resilience. Cloud, data, and AI continue to attract investments as they provide the infrastructure for future growth. Our client priorities are shifting are shifting with spending decisions increasingly tied to outcomes. In fact, In fact, many of our client contracts are becoming modular, becoming modular, milestone driven, milestone driven, and governed by value checkpoints. value checkpoints. Regardless of this environment, we continue to make decisive investments to navigate the AI-first world. With that context, With that context, let me

now turn to our performance in quarter four quarter four and for the full year FY 2025-26. All growth numbers I share will be in constant currency. constant currency. With that, With that, our IT services revenue for quarter four was $2.65 billion, billion, reflecting a sequential growth of 0.2% and de-growth of 0.2% on a year-on-year basis. Our operating margins came in at 17.3%, a contraction of 30 basis points sequentially. Order booking for quarter four was at 3.5 billion, 3.5 billion, which is a growth of 3.2% sequentially

and a de-growth of 13.9% 13.9% on a year-on-year basis. In fact, we had 14 large deals totaling $1.4 billion $1.4 billion this quarter. And for the full year, IT services revenues were $10.5 billion, reflecting a year-on-year de-growth of 1.6%. Our operating margin was at 17.2%, an expansion of 15 basis points as compared to FY 25. Now to our strategic market unit performance in quarter four, let me begin with Americas one. Americas one delivered sequential and year-on-year growth year-on-year growth driven by strong performance in consumer, technology,

and communications. communications. However, the healthcare sector was impacted by seasonality and policy changes. Americas two declined sequentially and on a year-on-year basis. For us, the BFSI sector was impacted by delayed ramp-ups on some large deals that were closed earlier this year and by certain client-specific issues. Europe grew sequentially and has remained flat on a year-on-year basis. In fact, we see good traction in the UK, specifically in the BFSI sector. We also see strong deal momentum in Germany. APMEA four others grew sequentially and on a year-on

basis. Growth Growth was driven by Southeast Asia. And we are also seeing traction in the BFSI, technology, and communication sectors in this market. We are encouraged by the momentum we are seeing in the APMEA region both in performance and the bets we continue to make there. A strong example is a strategic deal we announced recently with the Olam Group, expected to exceed $1. $1 billion in contract value with a committed spend of $800 million. In fact, this is one of our largest engagements to date in

APMEA region. For the client, we will drive end-to-end transformation across farm-to-fork value chain, chain, enhancing their operational effectiveness, effectiveness, resilience, and scalable growth. we we are acquiring are acquiring Mind Sprint, Mind Sprint, the Olam's IT and digital arm. And I would like to take this opportunity opportunity to warmly welcome Mind Sprint's leadership and employees to the Wipro family. I'm hoping some of them are watching here. watching here. In this quarter, In this quarter, we also closed several strategic engagements. engagements. Let me highlight two examples with

with two global technology leaders who drive AI at scale and how we are partnering with them. In my first example, a leading global technology company has engaged us to help run and improve their frontier AI models. We will manage end-to-end operations of these AI models these AI models from training, governance, and evaluation to domain-specific validations. validations. In fact, this engagement will be done through a specialized global delivery platform. platform. We will make these models more accurate, reliable, and safe reliable, and safe while ensuring they can

be deployed and managed at scale. In my second example, we have been selected by a leading global semiconductor company to provide engineering services engineering services that accelerates their product development development and manufacturing and manufacturing across complex hardware platforms and at locations spread globally. We will support the entire engineering life cycle life cycle from product development to performance testing analysis testing analysis before the final shipment to their end clients. The client will achieve faster resolution management, resolution management, higher yield, and improved governance with AI-driven analytics and

automation. As intelligence becomes industrialized and widely accessible, and widely accessible, we are making deliberate strategic pivot to stay ahead. As you all might be aware, we have launched a dedicated AI-native business and platforms unit and platforms unit to expand beyond a services-only model to a services-as-a-software approach. approach. This unit will operate with dedicated leadership, leadership, focused investment, focused investment, and a distinct operating model to accelerate enterprise-grade agentic AI solutions. This unit will also incubate new AI-led businesses businesses through an invest-build-partner approach approach and and collaborate

with Wipro Ventures and our entire partner ecosystem. Together with core services, this this creates a dual engine model driving transformation at scale while building building AI native platforms that differentiate services services that enables repeatable deployments and of course unlock of course unlock non-linear growth for for us for the future. future. With that, With that, let me move on to our guidance for the next quarter. In Q1, In Q1, we are guiding for a sequential growth of minus 2% to 0% in constant currency terms. terms. Let

me now invite Aparna for a detailed view of our financials. Thank you. Over to you, Aparna. Thank you, Srini. Good evening, everybody. And thank you for joining us. Let me share an update on the financial performance for the quarter and year ended 31st March 2026. Our IT services revenue for Q4 grew 0.2% sequentially in constant currency terms and plus 0.6% in reported currency. Revenue declined 0.2% on a year-on-year basis in constant currency terms. For FY26, our IT services revenues declined by 1.6% in constant currency. Our

operating margins for the quarter was at 17.3%. was at 17.3%. This was a This was a marginal contraction of 30 basis points over Q3 over Q3 and 0.2% contraction year-on-year. With this, our full year operating margin stands at 17.2%, which was an expansion of 15 basis points year-on-year. We maintained our margins in a narrow band even after absorbing two incremental months of our Harman DTS acquisition and one month of salary increases. increases. We rolled out our salary increase effective 1st March of the previous quarter. As

we move into Q1, we do have headwinds including the impact of recent large deal wins, impact of two incremental months of salary increase, which could cause some volatility on a quarterly performance. However, our endeavor will be to maintain the margins in a narrow band in the medium term. Net income for the quarter was at 35 billion rupees. Adjusted for the impact of labor code changes, net income increased 3.7% sequentially. increased 3.7% sequentially. Our full year adjusted net income increased 2.2% on a year-on-year basis. This is

after absorbing the restructuring charges that we took in Q1 and Q3. and Q3. EPS for the quarter was at rupees 3.3 and rupees 12.6 for the full year. Moving to our performance in our strategic market units and sectors, all growth numbers that I will share are in constant currency terms. A1 grew 0.3% sequentially and grew 2.9% on a year-on-year basis. Americas two declined 2.6% sequentially and 6.7% on a year-on-year basis. year-on-year basis. Europe grew 2% sequentially and was flat on a year-on-year basis. APMEA grew 3.1%

sequentially and 8.8% on a year-on-year basis. a year-on-year basis. BFSI declined 1.3% sequentially and and 0.5% year-on-year. Health declined 4.4% sequentially and was flat year-on-year. Consumer grew 1.7% sequentially and declined 2.9% year-on-year. declined 2.9% year-on-year. Technology and communication sector grew 5.3% sequentially and grew 10.4% year-on-year. year-on-year. EMR grew 1.1% sequentially while declining declining 6% year-on-year. 6% year-on-year. Let me share some other important financial parameters. Our operating cash flows continued to be higher than our net income and was at 112.6% of net income for FY26. Our

gross cash including investments was at 5.9 billion dollars. Accounting yield for the average investments held in India was at 7.3% in FY26. in FY26. Our ETR was at 23.5% for FY26 versus 24.5% in FY25. In terms of the guidance to reiterate what was stated by Srini, we expect our revenue from IT services business segment to be in the range of 2.597 billion dollars to 2.651 billion dollars. This translates to a sequential guidance of negative 2% to 0% in

# Day 58 — 火山引擎 录音文件识别（volc.seedasr.auc）

豆包大模型 ASR，异步接口。可能含识别错误，仅供听力对照。

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Welcome, everyone, to Wipros fourth quarter earnings press conference.

For those of us who are joining virtually, good morning, good afternoon, good evening.

My name is Nisha Chandra Shekharan, and I will be your moderator for today.

Joining me on stage is our Chief Financial Officer, Aparna Ayer, our Chief Executive Officer and Managing Director, Shree Nipalia, and our Chief Human Resources Officer, Sorab Gol.

We will begin with opening remarks from our CEO, followed by a financial review from our CFO.

Post that, we'll open the floor for your questions.

With that, let me invite our CEO and managing director, Shane Palya.

Waiting for that.

Okay.

Think it's reverse.

Just a minute.

Thank you.

Hello, everyone, and thank you for joining us today.

Let me begin with the broader environment.

Geopolitical and policy disruptions have become the new normal, and I'm sure you know this more than me.

Trade rules are changing, tighter immigration policies and of course, conflicts continue to create uncertainties for industries and economies.

Despite these headwinds, it spending has shown resilience.

Cloud data and AI continue to attract investments as they provide the infrastructure for future growth.

Our client priorities are shifting with spending decisions increasingly tied to outcomes.

In fact, many of our client contracts are becoming modular, milestone driven and governed by value checkpoints.

Regardless of this environment, we continue to make decisive investments to navigate the AI first world.

With that context, let me now turn to our performance in Q4 and for the full year F I.

2025 26.

All growth numbers I share will be in constant currency.

With that, our it services revenue for Q4 was dollar two point six five billion, reflecting a sequential growth of point two % and d growth of point two %.

On a year on year basis, our operating margins came in at 17.3%, a contraction of 30 basis points sequentially.

Order booking for Q4 was at 3.5 billion, which is a growth of 3.2% sequentially and a degrowth of 13.9% on a year on year basis.

In fact, we had 14 large deals totaling $1.4 billion this quarter.

And for the full year, it services revenues were dollar ten point five billion reflecting a year on year degrowth of 1.6%.

Our operating margin was at 17.2% and expansion of 15 basis points as compared to FI 25.

Now to our strategic market unit performance in Q4.

Let me begin with America's one.

America's 1 delivered sequential and year on year growth driven by strong performance in consumer technology and communications.

However, the healthcare sector was impacted by seasonality and policy changes.

Americas too declined sequentially and on a year on year basis for us.

The BFI sector was impacted by delayed ramp UPS on some large deals that were closed earlier this year, and by certain client specific issues.

Europe grew sequentially and has remained flat on a year on year basis.

In fact, we see good traction in the UK, specifically in the BFSI sector.

We also see strong deal momentum in Germany.

APMIA for us grew sequentially and on a year on basis growth was driven by Southeast Asia, and we are also seeing traction in the BFSI technology and communication sectors in this market.

We are encouraged by the momentum we are seeing in the Atma region, both in performance and the bets we continue to make there.

A strong example is a strategic deal we announced recently with the Olam Group expected to exceed dollar one point dollar 1 billion in contract value with a committed spend of dollar eight hundred million.

In fact, this is one of our largest engagements to date in Apia region.

For the client, we will drive end to end transformation across form to fork value chain, enhancing their operational effectiveness, resilience and scalable growth.

As part of this agreement, we are acquiring Mind Sprint, the Olam's it and digital arm.

And I would like to take this opportunity to warmly welcome Mind Sprint's leadership and employees to the Wipro family.

I'm hoping some of them are watching here.

In this quarter, we also closed several strategic engagements.

Let me highlight two examples with two global technology leaders who drive AI at scale and how we are partnering with them.

In my first example, a leading global technology company has engaged us to help run and improve their frontier AI models.

We will manage end to end operations of these AI models from training, governance and evaluation to domain specific validations.

In fact, this engagement will be done through a specialized global delivery platform.

We will make these models more accurate, reliable and safe while ensuring they can be deployed and managed at scale.

In my second example, we have been selected by leading global semiconductor company to provide engineering services that accelerates their product development and manufacturing across complex hardware platforms and at locations spread globally.

We will support the entire engineering life cycle, from product development to performance testing analysis before the final shipment to their end clients.

The client will achieve faster resolution management, higher yield and improved governance with AI driven analytics and automation.

As intelligence becomes industrialized and widely accessible, we are making deliberate strategic pivot to stay ahead.

As you all might be aware, we have launched a dedicated AI Native Business and platforms unit to expand beyond a services only model to a services as a software approach.

This unit will operate with dedicated leadership, focused investment and a distinct operating model to accelerate enterprise grade agentic AI solutions.

This unit will also incubate new AI LED businesses through an invest, build partner approach and, and collaborate with Wipro Ventures and our entire partner ecosystem together with core services.

This, this creates a dual engine model, driving transformation at scale while building AI native platforms that differentiate services that enables repeatable deployments and of course, unlock nonlinear growth for, for us for the future.

With that, let me move on to our guidance for the next quarter.

In Q1, we are guiding for a sequential growth of minus two % to 0% in constant currency terms.

Let me now invite Apana for a detailed view of our financials.

Thank you.

Thank you, Shreeni.

Good evening, everybody, and thank you for joining us.

Let me share an update on the financial performance for the quarter and year ended 31st March 2026.

Our it services revenue for Q4 grew point two % sequentially in constant currency terms and plus point six % in reported currency revenue declined point two % on a year on year basis in constant currency terms for fi 26.

Our it services revenues declined by 1.6% in constant currency.

Our operating margins for the quarter was at 17.3%, this was a marginal contraction of 30 basis points over Q3 and point two % contraction year on year.

With this, our full year operating margin stands at 17.2%, which was an expansion of 15 basis points year on year.

We maintained our margins in a narrow band even after absorbing two incremental months of our Harmon DTS acquisition and one month of salary increases.

We rolled out our salary increase effective first March of the previous quarter.

As we move into Q1, we do have headwinds, including the impact of recent large deal wins, impact of two incremental months of salary increase, which could cause some volatility on a quarterly performance.

However, our endeavor will be to maintain the margins in a narrow band in the medium term.

Net income for the quarter was at 35 billion rupees, adjusted for the impact of labor code changes, net income increased 3.7%.

Sequentially.

Our full year adjusted net income increased 2.2% on a year on year basis.

This is after absorbing the restructuring charges that we took in Q1 and Q3.

EPS for the quarter was at rupees 3.3 and rupees 12.6 for the full year.

Moving to our performance in our strategic market units and sectors, all growth numbers that I will share are in constant currency terms.

A1 grew point three % sequentially and grew 2.9% on a year on year basis.

America's too declined 2.6% sequentially and 6.7% on a year on year basis.

Europe grew 2% sequentially and was flat on a year on year basis.

Apnia grew 3.1% sequentially and 8.8% on a year on year basis.

BFS I declined 1.3% sequentially and point five % year on year.

Health declined 4.4% sequentially and was flat year on year.

Consumer grew 1.7% sequentially and declined 2.9% year on year.

Technology and communication sector grew 5.3% sequentially and grew 10.4% year on year.

EMR grew 1.1% sequentially while declining 6% year on year.

Let me share some other important financial parameters.

Our operating cash flows continued to be higher than our net income, and was at hundred and twelve point six percent of net income for FY26.

Our gross cash, including investments, was at $5.9 billion.

Accounting yield for the average investments held in India was at 7.3% in Fi 26, our ETR was at 23.5% for fi 26 versus 24.5% in fi 25.

In terms of the guidance, to reiterate what was stated by Shini, we expect our revenue from it services business segment to be in the range of $2.597 billion to $2.651 billion. This translates to a sequential guidance of negative.