EX-99.3 4 d342992dex993.htm FORM OF ADVERTISEMENT PLACED IN INDIAN NEWSPAPERS

Exhibit 99.3

Wipro Limited

CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2012

|  |  |  | ( in millions, except share and per share data, unless otherwise stated) |
|  |  |  |  |  | Three months ended |  |  | Year ended |
|  | Particulars |  | March 31, 2012 |  |  | December 31, 2011 |  |  | March 31, 2011 |  |  | March 31, 2012 |  |  | March 31, 2011 |
1 |  | Income from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | a) |  | Net Sales/income from operations (net of excise duty) |  |  | 98,363 |  |  |  | 99,651 |  |  |  | 82,763 |  |  |  | 374,044 |  |  |  | 309,980 |
|  | b) |  | Other operating income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Total income from operations (net) |  |  | 98,363 |  |  |  | 99,651 |  |  |  | 82,763 |  |  |  | 374,044 |  |  |  | 309,980 |
2 |  | Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | a) |  | Cost of materials consumed |  |  | 7,814 |  |  |  | 4,194 |  |  |  | 4,685 |  |  |  | 20,159 |  |  |  | 14,922 |
|  | b) |  | Purchase of stock-in-trade |  |  | 6,050 |  |  |  | 11,051 |  |  |  | 8,842 |  |  |  | 37,657 |  |  |  | 34,087 |
|  | c) |  | (Increase)/ Decrease in inventories of finished stock, work-in-progress and stock in process |  |  | 471 |  |  |  | (275 | ) |  |  | (872 | ) |  |  | 118 |  |  |  | (651 | )
|  | d) |  | Employee compensation |  |  | 40,564 |  |  |  | 40,269 |  |  |  | 33,830 |  |  |  | 154,066 |  |  |  | 126,867 |
|  | e) |  | Depreciation and amortisation expense |  |  | 2,668 |  |  |  | 2,604 |  |  |  | 2,281 |  |  |  | 10,129 |  |  |  | 8,211 |
|  | f) |  | Sub contracting/technical fees/third party application |  |  | 9,504 |  |  |  | 9,517 |  |  |  | 7,151 |  |  |  | 34,210 |  |  |  | 26,415 |
|  | g) |  | Other expenditure |  |  | 14,349 |  |  |  | 15,052 |  |  |  | 12,059 |  |  |  | 53,692 |  |  |  | 42,461 |
|  | Total expense |  |  | 81,420 |  |  |  | 82,412 |  |  |  | 67,976 |  |  |  | 310,031 |  |  |  | 252,312 |
3 |  | Profit from operations before other income, finance costs and exceptional items (1-2) |  |  | 16,943 |  |  |  | 17,239 |  |  |  | 14,787 |  |  |  | 64,013 |  |  |  | 57,668 |
4 |  | Other Income |  |  | 2,441 |  |  |  | 2,149 |  |  |  | 2,127 |  |  |  | 8,895 |  |  |  | 6,652 |
5 |  | Profit from ordinary activities before finance costs and exceptional items (3+4) |  |  | 19,384 |  |  |  | 19,388 |  |  |  | 16,914 |  |  |  | 72,908 |  |  |  | 64,320 |
6 |  | Finance Cost |  |  | 464 |  |  |  | 1,017 |  |  |  | 636 |  |  |  | 3,491 |  |  |  | 1,933 |
7 |  | Profit from ordinary activities after finance costs but before exceptional items (5-6) |  |  | 18,920 |  |  |  | 18,371 |  |  |  | 16,278 |  |  |  | 69,417 |  |  |  | 62,387 |
8 |  | Exceptional items |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
9 |  | Profit from ordinary activities before tax (7+8) |  |  | 18,920 |  |  |  | 18,371 |  |  |  | 16,278 |  |  |  | 69,417 |  |  |  | 62,387 |
10 |  | Tax expense |  |  | 4,015 |  |  |  | 3,810 |  |  |  | 2,604 |  |  |  | 13,763 |  |  |  | 9,714 |
11 |  | Net profit from ordinary activities after tax (9-10) |  |  | 14,905 |  |  |  | 14,561 |  |  |  | 13,674 |  |  |  | 55,654 |  |  |  | 52,673 |
12 |  | Extraordinary items (net of tax expense) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
13 |  | Net profit for the period (11-12) |  |  | 14,905 |  |  |  | 14,561 |  |  |  | 13,674 |  |  |  | 55,654 |  |  |  | 52,673 |
14 |  | Share in earnings of associates |  |  | 7 |  |  |  | 117 |  |  |  | 139 |  |  |  | 333 |  |  |  | 648 |
15 |  | Minority interest |  |  | (103 | ) |  |  | (114 | ) |  |  | (59 | ) |  |  | (257 | ) |  |  | (344 | )
16 |  | Net profit after taxes, minority interest and share of profit of associates (13+14+15) |  |  | 14,809 |  |  |  | 14,564 |  |  |  | 13,754 |  |  |  | 55,730 |  |  |  | 52,977 |
17 |  | Paid up equity share capital (Face value 2 per share) |  |  | 4,917 |  |  |  | 4,916 |  |  |  | 4,908 |  |  |  | 4,917 |  |  |  | 4,908 |
18 |  | Reserves excluding revaluation reserves as per balance sheet of previous accounting year |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 234,772 |
19 |  | EARNINGS PER SHARE (EPS) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Before extraordinary items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Basic (in ) |  |  | 6.04 |  |  |  | 5.94 |  |  |  | 5.64 |  |  |  | 22.76 |  |  |  | 21.74 |
|  | Diluted (in ) |  |  | 6.03 |  |  |  | 5.93 |  |  |  | 5.61 |  |  |  | 22.69 |  |  |  | 21.61 |
|  | After extraordinary items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Basic (in ) |  |  | 6.04 |  |  |  | 5.94 |  |  |  | 5.64 |  |  |  | 22.76 |  |  |  | 21.74 |
|  | Diluted (in ) |  |  | 6.03 |  |  |  | 5.93 |  |  |  | 5.61 |  |  |  | 22.69 |  |  |  | 21.61 |
20 |  | Public shareholding (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Number of shares |  |  | 488,910,535 |  |  |  | 470,623,574 |  |  |  | 467,158,697 |  |  |  | 488,910,535 |  |  |  | 467,158,697 |
|  | Percentage of holding |  |  | 19.88 | % |  |  | 19.15 | % |  |  | 19.03 | % |  |  | 19.88 | % |  |  | 19.03 | %
21 |  | Promoters and promoter group shareholding |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | a) Pledged/ Encumbered |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | –Number of shares |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |
|  | –Percentage of shares (as a % of the total shareholding of promoter and promoter group) |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |
|  | –Percentage of shares (as a % of the total share capital of the Company) |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |
|  | b) Non-encumbered |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | –Number of shares (2) |  |  | 1,927,880,883 |  |  |  | 1,945,693,763 |  |  |  | 1,945,953,763 |  |  |  | 1,927,880,883 |  |  |  | 1,945,953,763 |
|  | –Percentage of shares (as a % of the total shareholding of promoter and promoter group) |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
|  | –Percentage of shares (as a % of the total share capital of the Company) |  |  | 78.41 | % |  |  | 79.15 | % |  |  | 79.28 | % |  |  | 78.41 | % |  |  | 79.28 | %

(1) | Public shareholding as defined under clause 40A of the listing agreement (excludes shares beneficially held by promoters and holders of American Depository Receipt)

(2) | Includes 206,030,453 (December 31, 2011 and March 31, 2011: 223,843,333) equity shares on which Promoter does not have beneficiary interest.

Status of redressal of Complaints received for the period January 01, 2012 to March 31, 2012

S1. No. |  | Nature of the complaint |  | Nature |  | Opening balance 01.01.2012 |  |  | Complaints received during the quarter |  |  | Complaints disposed during the quarter |  |  | Unresolved as of March 31, 2012 |
1 |  | Non-Receipt of Securities |  | Complaint |  |  | — |  |  |  | 2 |  |  |  | 2 |  |  |  | — |
2 |  | Non Receipt of Annual Reports |  | Complaint |  |  | — |  |  |  | 1 |  |  |  | 1 |  |  |  | — |
3 |  | Correction / Duplicate/ Revalidation of dividend warrants |  | Request |  |  | — |  |  |  | 99 |  |  |  | 99 |  |  |  | — |
4 |  | SEBI/Stock Exchange Complaints |  | Complaint |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
5 |  | Non Receipt of Dividend warrants |  | Complaint |  |  | — |  |  |  | 22 |  |  |  | 22 |  |  |  | — |
|  | TOTAL |  |  |  |  | — |  |  |  | 124 |  |  |  | 124 |  |  |  | — |

Note: There are certain pending cases relating to disputes over title to shares in which the Company has been made a party. However, these cases are not material in nature.

1. | The consolidated financial results of the Company for the quarter and year ended March 31, 2012 have been approved by the directors of the Company at its meeting held on April 25, 2012. The statutory auditors have expressed an unqualified audit opinion.

2. | The above interim financial results have been prepared from the condensed consolidated interim financial statements, which are prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).

3. | The condensed consolidated interim financial statements have been prepared on a historical cost convention and on an accrual basis, except for the following material items that have been measured at fair value as required by relevant IFRS:–

| a. | Derivative financial instruments;

| b. | Available-for-sale financial assets; and

| c. | Share based payment transactions.

4. | The condensed consolidated interim financial statements incorporate the financial statements of the Parent Company and entities controlled by the Parent Company (its subsidiaries). Control is achieved where a company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights that currently are exercisable are taken into account. All intra-company balances, transactions, income and expenses including unrealized income or expenses are eliminated in full on consolidation.

5. | The total revenue represent the aggregate revenue and includes foreign exchange gains / (losses), net and is net of excise duty amounting to 328, 321 and 260 for the three months ended March 31, 2012, December 31, 2011 and March 31, 2011, respectively and 1,205 and 1,007 for the year ended March 31, 2012 and 2011, respectively.

6. | Derivatives

The Company is exposed to foreign currency fluctuations on foreign currency assets / liabilities, forecasted cash flows denominated in foreign currency and net investments in foreign operations. The Company follows established risk management policies, including the use of derivatives to hedge foreign currency assets / liabilities, foreign currency forecasted cash flows and net investments in foreign operations. The counter party in these derivative instruments is a bank and the Company considers the risks of non-performance by the counterparty as non-material.

The following table presents the aggregate contracted principal amounts of the Company’s derivative contracts outstanding:

|  | (in Million) |
|  | As at March 31 |
|  | 2011 |  |  | 2012 |
Designated derivative instruments |  | $ | 901 |  |  | $ | 1,081 |
Sell |  | £ | 21 |  |  | £ | 4 |
|  | ¥ | 3,026 |  |  | ¥ | 1,474 |
|  | € | 2 |  |  | € | 17 |
|  | AUD | 4 |  |  | AUD | — |
|  | CHF | 6 |  |  | CHF | — |
Net investment hedges in foreign operations |  |  |  |  |  |  |  |
Cross-currency swaps |  | ¥ | 24,511 |  |  | ¥ | 24,511 |
Others |  | $ | 262 |  |  | $ | 262 |
|  | € | 40 |  |  | € | 40 |
Non designated derivative instruments |  |  |  |  |  |  |  |
Sell |  | $ | 526 |  |  | $ | 841 |
|  | £ | 40 |  |  | £ | 58 |
|  | € | 48 |  |  | € | 44 |
|  | AUD | 13 |  |  | AUD | 31 |
Buy |  | $ | 617 |  |  | $ | 555 |
|  | ¥ | — |  |  | ¥ | 1,997 |
Cross currency swaps |  | ¥ | 7,000 |  |  | ¥ | 7,000 |

7. | The list of subsidiaries is included in the condensed consolidated financial statements of Wipro Limited and subsidiaries for the quarter and year ended March 31, 2012, which are available on our company website www.wipro.com

8. | Business combination

Science Applications International Corporation

On June 10, 2011, the Company acquired the global oil and gas information technology practice of the Commercial Business Services Business Unit of Science Applications International Corporation Inc along with 100% of the share capital in SAIC Europe Limited and SAIC India Private Limited. On July 2, 2011 the Company also acquired 100% of the share capital of SAIC Gulf LLC (hereafter the acquisitions are collectively referred to as ‘oil and gas business of SAIC’). The oil and gas business of SAIC provides consulting, system integration and outsourcing services to global oil majors with significant domain capabilities in the areas of digital oil field, petro-technical data management and petroleum application services, addressing the upstream segment. The Company believes that the acquisition will further strengthen Wipro’s presence in the Energy, Natural Resources and Utilities domain. The goodwill of 5,309 comprises of value of expected synergies arising from the acquisition. The purchase consideration of 7,536 was settled in cash. The following table summarizes the recognized amounts of assets acquired and liabilities assumed:

Descriptions |  | Pre-acquisition carrying amount |  |  | Fair value adjustments |  |  | Purchase price allocated |
Cash and cash equivalents |  |  | 541 |  |  |  | — |  |  |  | 541 |
Property, plant and equipment |  |  | 75 |  |  |  | — |  |  |  | 75 |
Customer-related intangibles |  |  | — |  |  |  | 756 |  |  |  | 756 |
Other assets |  |  | 1,540 |  |  |  | — |  |  |  | 1,540 |
Deferred income taxes, net |  |  | 54 |  |  |  | (61 | ) |  |  | (7 | )
Other liabilities |  |  | (678 | ) |  |  | — |  |  |  | (678 | )
Total |  |  | 1,532 |  |  |  | 695 |  |  |  | 2,227 |
Goodwill |  |  |  |  |  |  |  |  |  |  | 5,309 |
Total purchase price |  |  |  |  |  |  |  |  |  |  | 7,536 |

None of the goodwill, other than goodwill relating to business purchase in the U.S. ( 2,703), is expected to be deductible for income tax purposes.

The gross and fair value of trade receivables included in other assets above amounts to 1,170. None of the trade receivable has been impaired and it is expected that full contractual amount can be collected.

From the date of acquisition, the oil and gas business of SAIC have contributed 6,792 of revenue and 243 of profit before taxes for the period of the Company.

If the acquisition had occurred on April 1, 2011, management estimates that annual consolidated revenue for the Company would have been 373,798 and the annual profit before taxes for the period for the Company would have been 69,935. The pro-forma amounts are not necessarily indicative of the results that would have occurred if the acquisitions had occurred on dates indicated or that may result in the future.

9. | Segment Information

The Company is currently organized by segments, which includes IT Services (comprising of IT Services and BPO Services), IT Products, Consumer Care and Lighting and ‘Others’.

The Chairman of the Company has been identified as the Chief Operating Decision Maker (CODM) as defined by IFRS 8, Operating Segments. The Chairman of the Company evaluates the segments based on their revenue growth, operating income and return on capital employed. The management believes that return on capital employed is considered appropriate for evaluating the performance of its operating segments. Return on capital employed is calculated as operating income divided by the average of the capital employed at the beginning and at the end of the period. Capital employed includes total assets of the respective segments (except cash and cash equivalents, available for sale investments and inter-corporate deposits amounting to 114,663 and 128,037 as of March 31, 2011 and 2012, respectively, which is included under Reconciling items) less all liabilities, excluding loans and borrowings.

Information on reportable segments is as follows:

|  |  |  | Three months ended |  |  | Year ended |
|  | Particulars |  | March 31, 2012 |  |  | December 31, 2011 |  |  | March 31, 2011 |  |  | March 31, 2012 |  |  | March 31, 2011 |
1. |  | Segment Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | – IT Services |  |  | 75,897 |  |  |  | 76,076 |  |  |  | 62,891 |  |  |  | 284,313 |  |  |  | 234,850 |
|  | – IT Products |  |  | 9,370 |  |  |  | 9,000 |  |  |  | 9,105 |  |  |  | 38,436 |  |  |  | 36,910 |
|  | Total IT Services and Products |  |  | 85,267 |  |  |  | 85,076 |  |  |  | 71,996 |  |  |  | 322,749 |  |  |  | 271,760 |
|  | Consumer Care and Lighting |  |  | 9,067 |  |  |  | 8,787 |  |  |  | 7,244 |  |  |  | 33,401 |  |  |  | 27,258 |
|  | Others |  |  | 4,288 |  |  |  | 5,760 |  |  |  | 3,519 |  |  |  | 18,565 |  |  |  | 10,896 |
|  | Reconciling items |  |  | 69 |  |  |  | 349 |  |  |  | 264 |  |  |  | 534 |  |  |  | 1,073 |
|  | Net Revenues from Operations |  |  | 98,691 |  |  |  | 99,972 |  |  |  | 83,023 |  |  |  | 375,249 |  |  |  | 310,987 |
2. |  | Segment Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | – IT Services |  |  | 15,731 |  |  |  | 15,828 |  |  |  | 13,878 |  |  |  | 59,265 |  |  |  | 53,407 |
|  | – IT Products |  |  | 438 |  |  |  | 475 |  |  |  | 332 |  |  |  | 1,787 |  |  |  | 1,609 |
|  | Total IT Services and Products |  |  | 16,169 |  |  |  | 16,303 |  |  |  | 14,210 |  |  |  | 61,052 |  |  |  | 55,016 |
|  | Consumer Care and Lighting |  |  | 1,134 |  |  |  | 1,045 |  |  |  | 870 |  |  |  | 3,956 |  |  |  | 3,450 |
|  | Others |  |  | 35 |  |  |  | 70 |  |  |  | 125 |  |  |  | 110 |  |  |  | (97 | )
|  | Reconciling items |  |  | (395 | ) |  |  | (179 | ) |  |  | (415 | ) |  |  | (1,105 | ) |  |  | (701 | )
|  | Total Segment Operating Income |  |  | 16,943 |  |  |  | 17,239 |  |  |  | 14,790 |  |  |  | 64,013 |  |  |  | 57,668 |
|  | Finance expense |  |  | (464 | ) |  |  | (1,017 | ) |  |  | (636 | ) |  |  | (3,491 | ) |  |  | (1,933 | )
|  | Finance and other income |  |  | 2,441 |  |  |  | 2,149 |  |  |  | 2,128 |  |  |  | 8,895 |  |  |  | 6,652 |
|  | Share of profits of equity accounted investees |  |  | 7 |  |  |  | 117 |  |  |  | 139 |  |  |  | 333 |  |  |  | 648 |
|  | Profit before tax |  |  | 18,927 |  |  |  | 18,488 |  |  |  | 16,421 |  |  |  | 69,750 |  |  |  | 63,035 |
|  | Income tax expense |  |  | (4,015 | ) |  |  | (3,810 | ) |  |  | (2,604 | ) |  |  | (13,763 | ) |  |  | (9,714 | )
|  | Profit for the period |  |  | 14,912 |  |  |  | 14,678 |  |  |  | 13,817 |  |  |  | 55,987 |  |  |  | 53,321 |
3. |  | Average Capital Employed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | IT Services and Products |  |  | 153,708 |  |  |  | 151,380 |  |  |  | 128,456 |  |  |  | 139,843 |  |  |  | 118,208 |
|  | Consumer Care and Lighting |  |  | 22,882 |  |  |  | 22,372 |  |  |  | 20,832 |  |  |  | 21,798 |  |  |  | 20,097 |
|  | Others |  |  | 11,721 |  |  |  | 10,807 |  |  |  | 6,744 |  |  |  | 9,398 |  |  |  | 6,168 |
|  | Reconciling items |  |  | 151,158 |  |  |  | 139,537 |  |  |  | 134,965 |  |  |  | 148,110 |  |  |  | 131,646 |
|  | Total Capital Employed |  |  | 339,469 |  |  |  | 324,096 |  |  |  | 290,997 |  |  |  | 319,149 |  |  |  | 276,119 |
4. |  | Return on Capital Employed |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | IT Services and Products |  |  | 42 | % |  |  | 43 | % |  |  | 44 | % |  |  | 44 | % |  |  | 47 | %
|  | Consumer Care and Lighting |  |  | 20 | % |  |  | 19 | % |  |  | 17 | % |  |  | 18 | % |  |  | 17 | %
|  | Others |  |  | 1 | % |  |  | 3 | % |  |  | 8 | % |  |  | 1 | % |  |  | (2 | %)
|  | Total |  |  | 20 | % |  |  | 21 | % |  |  | 20 | % |  |  | 20 | % |  |  | 21 | %

The Company has four geographic segments: India, the United States, Europe and Rest of the world. Revenues from the geographic segments based on domicile of the customer are as follows

|  | Three months ended |  |  | Year ended |
| March 31, 2012 |  |  | December 31, 2011 |  |  | March 31, 2011 |  |  | March 31, 2012 |  |  | March 31, 2011 |
India |  |  | 19,775 |  |  |  | 20,889 |  |  |  | 19,126 |  |  |  | 80,135 |  |  |  | 67,904 |
United States |  |  | 40,309 |  |  |  | 40,460 |  |  |  | 34,442 |  |  |  | 148,160 |  |  |  | 129,217 |
Europe |  |  | 23,439 |  |  |  | 23,776 |  |  |  | 19,078 |  |  |  | 87,186 |  |  |  | 68,159 |
Rest of the world |  |  | 15,168 |  |  |  | 14,847 |  |  |  | 10,377 |  |  |  | 59,768 |  |  |  | 45,707 |
|  |  | 98,691 |  |  |  | 99,972 |  |  |  | 83,023 |  |  |  | 375,249 |  |  |  | 310,987 |

No client individually accounted for more than 10% of the revenues during the three months ended March 31, 2012, December 31, 2011 and March 31, 2011 and year ended March 31, 2011 and 2012.

Notes:

a) | The company has the following reportable segments:

| i) | IT Services: The IT Services segment provides IT and IT enabled services to customers. Key service offering includes software application development, application maintenance, research and development services for hardware and software design, data center outsourcing services and business process outsourcing services.

| ii) | IT Products: The IT Products segment sells a range of Wipro personal desktop computers, Wipro servers and Wipro notebooks. The Company is also a value added reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands. In certain total outsourcing contracts of the IT Services segment, the Company delivers hardware, software products and other related deliverables. Revenue relating to these items is reported as revenue from the sale of IT Products.

| iii) | Consumer Care and Lighting: The Consumer Care and Lighting segment manufactures, distributes and sells personal care products, baby care products, lighting products and hydrogenated cooking oils in the Indian and Asian markets.

| iv) | The Others’ segment consists of business segments that do not meet the requirements individually for a reportable segment as defined in IFRS 8.

| v) | Corporate activities such as treasury, legal and accounting, which do not qualify as operating segments under IFRS 8, and elimination of inter-segment transactions have been considered as ‘reconciling items’.

b) | Revenues include excise duty of 328, 321 and 260 for the three months ended March 31, 2012, December 31, 2011 and March 31, 2011, respectively and 1,205 and 1,007 for the year ended March 31, 2012 and 2011, respectively. For the purpose of segment reporting, the segment revenues are net of excise duty. Excise duty is reported in reconciling items.

c) | For the purpose of segment reporting, the Company has included the impact of ‘foreign exchange gains / (losses), net in revenues (which is reported as a part of operating profit in the statement of income).

d) | For evaluating performance of the individual business segments, stock compensation expense is allocated on the basis of straight line amortization. The incremental impact of accelerated amortization of stock compensation expense over stock compensation expense allocated to the individual business segments is reported in reconciling items.

e) | For evaluating the performance of the individual business segments, amortization of intangibles acquired through business combinations are reported in reconciling items.

f) | For evaluating the performance of the individual business segments, loss on disposal of subsidiaries are reported in reconciling items.

g) | The Company generally offers multi-year payment terms in certain total outsourcing contracts. These payment terms primarily relate to IT hardware, software and certain transformation services in outsourcing contracts. Corporate treasury provides internal financing to the business units offering multi-year payments terms. Accordingly, such receivables are reflected in capital employed in reconciling items. As of March 31, 2012 and 2011, capital employed in reconciling items includes 13,562 and 12,255 respectively, of such receivables on extended collection terms. The finance income on deferred consideration earned under these contracts is included in the revenue of the respective segment and is eliminated under ‘reconciling items’.

h) | Operating income of segments is after recognition of stock compensation expense arising from the grant of options:

Segments |  | Three months ended |  |  | Year ended |
| March 31, 2012 |  |  | December 31, 2011 |  |  | March 31, 2011 |  |  | March 31, 2012 |  |  | March 31, 2011 |
IT Services |  |  | 204 |  |  |  | 200 |  |  |  | 337 |  |  |  | 871 |  |  |  | 1,214 |
IT Products |  |  | 13 |  |  |  | 13 |  |  |  | 23 |  |  |  | 62 |  |  |  | 90 |
Consumer Care and Lighting |  |  | 22 |  |  |  | 22 |  |  |  | 26 |  |  |  | 89 |  |  |  | 112 |
Others |  |  | 4 |  |  |  | 7 |  |  |  | 7 |  |  |  | 26 |  |  |  | 31 |
Reconciling items |  |  | 6 |  |  |  | 7 |  |  |  | (61 | ) |  |  | (99 | ) |  |  | (355 | )
Total |  |  | 249 |  |  |  | 249 |  |  |  | 332 |  |  |  | 949 |  |  |  | 1,092 |

Management believes that it is currently not practicable to provide disclosure of geographical location wise assets, since the meaningful segregation of the available information is onerous

10. | The Company has granted Nil, 10,000 and Nil options under RSU Options Plan during the three months ended March 31, 2012, December 31, 2011 and March 31, 2011, respectively and 6,661,180 and 40,000 options under RSU Plan during the year ended March 31, 2011 and 2012, respectively.

11. | Consolidated statement of assets and liabilities

|  | Particulars |  | As on March 31, |
|  | 2012 |  |  | 2011 |
I. |  | EQUITY AND LIABILITIES |  |  |  |  |  |  |  |
1. |  | Shareholder’s funds |  |  |  |  |  |  |  |
|  | Share Capital |  |  | 4,917 |  |  |  | 4,908 |
|  | Reserves and Surplus |  |  | 280,397 |  |  |  | 234,772 |
|  |  |  |  | 285,314 |  |  |  | 239,680 |
2. |  | Minority Interest |  |  | 849 |  |  |  | 691 |
3. |  | Non-current liabilities |  |  |  |  |  |  |  |
|  | Long-term borrowings |  |  | 22,510 |  |  |  | 19,759 |
|  | Deferred Tax liabilities |  |  | 353 |  |  |  | 301 |
|  | Other Long term liabilities |  |  | 3,826 |  |  |  | 5,292 |
|  | Long-term Provisions |  |  | 5,464 |  |  |  | 5,102 |
|  |  |  |  | 32,153 |  |  |  | 30,454 |
4. |  | Current Liabilities |  |  |  |  |  |  |  |
|  | Short term borrowings |  |  | 34,499 |  |  |  | 31,065 |
|  | Trade payables and Accrued Expense |  |  | 47,258 |  |  |  | 42,024 |
|  | Other current liabilities |  |  | 27,575 |  |  |  | 17,865 |
|  | Short term provisions |  |  | 8,353 |  |  |  | 9,664 |
|  |  |  |  | 117,685 |  |  |  | 100,618 |
|  | TOTAL EQUITY AND LIABILITIES |  |  | 436,001 |  |  |  | 371,443 |
II |  | ASSETS |  |  |  |  |  |  |  |
1. |  | Non-current assets |  |  |  |  |  |  |  |
|  | Fixed assets |  |  |  |  |  |  |  |
|  | Tangible assets |  |  | 53,529 |  |  |  | 47,846 |
|  | Intangible assets |  |  | 4,229 |  |  |  | 3,551 |
|  | Capital work-in-progress |  |  | 3,466 |  |  |  | 5,036 |
|  | Goodwill |  |  | 67,937 |  |  |  | 54,818 |
|  | Non-current investments |  |  | 3,232 |  |  |  | 2,993 |
|  | Deferred tax assets |  |  | 1,374 |  |  |  | 979 |
|  | Long-term loans and advances |  |  | 19,421 |  |  |  | 16,081 |
|  | Other non-current assets |  |  | 9,325 |  |  |  | 7,825 |
|  |  |  |  | 162,513 |  |  |  | 139,129 |
2. |  | Current assets |  |  |  |  |  |  |  |
|  | Current investments |  |  | 41,961 |  |  |  | 49,282 |
|  | Inventories |  |  | 10,662 |  |  |  | 9,707 |
|  | Trade receivables |  |  | 80,328 |  |  |  | 61,627 |
|  | Cash and bank balances |  |  | 77,666 |  |  |  | 61,141 |
|  | Short-term loans and advances |  |  | 36,754 |  |  |  | 28,755 |
|  | Other current assets |  |  | 26,117 |  |  |  | 21,802 |
|  |  |  |  | 273,488 |  |  |  | 232,314 |
|  | TOTAL ASSETS |  |  | 436,001 |  |  |  | 371,443 |

12. | Stand-alone information (Audited)

Particulars |  | Three months ended |  |  | Year ended |  |  |
| March 31, 2012 |  |  | December 31, 2011 |  |  | March 31, 2011 |  |  | March 31, 2012 |  |  | March 31, 2011 |  |
Income from Operations |  |  | 86,210 |  |  |  | 83,165 |  |  |  | 71,784 |  |  |  | 320,536 |  |  |  | 263,407 |  |
Profit before Tax |  |  | 17,190 |  |  |  | 14,016 |  |  |  | 15,804 |  |  |  | 59,186 |  |  |  | 57,055 |  |
Profit after Tax |  |  | 13,513 |  |  |  | 10,639 |  |  |  | 13,376 |  |  |  | 46,851 |  |  |  | 48,437 |  |

13. | Dividend

On April 25, 2012, the Board of Directors of the Company recommended final dividend of 4 ($0.08) per equity share and ADR (200% on an equity share of par value of 2). The payment is subject to the approval of the shareholders in the ensuing Annual General Meeting of the Company. |  |

Place: Bangalore Date: April 25, 2012 |  | By Order of the Board, for Wipro Ltd. Azim H Premji Chairman |  | WIPRO LIMITED Regd. Office: Doddakannelli, Sarjapur Road, Bangalore – 560 035. www.wipro.com