Wipro Limited
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Business & moat
Business Snapshot
Moat Analysis
Above-WACC IT services laggard; only switching costs clear v14 bar, and they are eroding under hyperscaler and AI.
Performance & outlook
Quarterly Score
Growth Prospects
FY26 base-case growth 12-15%
Management & drivers
Guidance Tracker
Key Variables
Constant-currency sequential revenue growth (IT Services) — Wipro has been unable to print two consecutive quarters of meaningful organic growth in eight quarters; the only positive print in the latest fiscal (Q3 FY26 +1.4%) carried 0.8 percentage points of inorganic Harman contribution, leaving organic growth at +0.6%. The pattern is demand-side stuck rather than delivery-side broken — bookings are strong but the deal-to-revenue conversion lag is longer than at peers.