EX-99.5 6 d191713dex995.htm EX-99.5

Exhibit 99.5

WIPRO LIMITED

CIN: L32102KA1945PLC020800 ; Registered Office : Wipro Limited, Doddakannelli, Sarjapur Road, Bengaluru - 560035, India

Website: www.wipro.com ; Email id – info@wipro.com ; Tel: +91-80-2844 0011 ; Fax: +91-80-2844 0054

STATUTORILY AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED

SEPTEMBER 30, 2021

UNDER IFRS (IASB)

(₹ in millions, except share and per share data, unless otherwise stated)

|  | Particulars |  | Three months ended |  |  | Six months ended |  |  | Year ended |
|  | September 30, 2021 |  |  | June 30, 2021 |  |  | September 30, 2020 |  |  | September 30, 2021 |  |  | September 30, 2020 |  |  | March 31, 2021 |
|  | Income from operations |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | a) Revenue |  |  | 196,674 |  |  |  | 182,524 |  |  |  | 151,145 |  |  |  | 379,198 |  |  |  | 300,276 |  |  |  | 619,430 |
|  | b) Other operating income/(loss), net |  |  | 15 |  |  |  | 2,150 |  |  |  | (178 | ) |  |  | 2,165 |  |  |  | (81 | ) |  |  | (81 | )
|  | c) Foreign exchange gains |  |  | 933 |  |  |  | 1,160 |  |  |  | 338 |  |  |  | 2,093 |  |  |  | 1,543 |  |  |  | 2,995 |
I |  | Total income from operations |  |  | 197,622 |  |  |  | 185,834 |  |  |  | 151,305 |  |  |  | 383,456 |  |  |  | 301,738 |  |  |  | 622,344 |
|  | Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | a) Purchase of stock-in-trade |  |  | 1,628 |  |  |  | 1,437 |  |  |  | 1,666 |  |  |  | 3,065 |  |  |  | 3,432 |  |  |  | 6,957 |
|  | b) Changes in inventories of finished goods and stock-in-trade |  |  | 148 |  |  |  | 68 |  |  |  | 330 |  |  |  | 216 |  |  |  | 506 |  |  |  | 315 |
|  | c) Employee benefit expense |  |  | 111,202 |  |  |  | 102,711 |  |  |  | 83,168 |  |  |  | 213,913 |  |  |  | 163,430 |  |  |  | 332,371 |
|  | d) Depreciation, amortization and impairment |  |  | 7,717 |  |  |  | 8,390 |  |  |  | 6,580 |  |  |  | 16,107 |  |  |  | 12,734 |  |  |  | 27,656 |
|  | e) Sub-contracting/ technical fees |  |  | 27,277 |  |  |  | 24,619 |  |  |  | 20,240 |  |  |  | 51,896 |  |  |  | 41,458 |  |  |  | 83,609 |
|  | f) Facility expenses |  |  | 6,220 |  |  |  | 5,650 |  |  |  | 5,344 |  |  |  | 11,870 |  |  |  | 9,971 |  |  |  | 20,255 |
|  | g) Travel |  |  | 1,645 |  |  |  | 1,435 |  |  |  | 1,264 |  |  |  | 3,080 |  |  |  | 2,554 |  |  |  | 5,258 |
|  | h) Communication |  |  | 1,464 |  |  |  | 1,516 |  |  |  | 1,801 |  |  |  | 2,980 |  |  |  | 3,155 |  |  |  | 6,069 |
|  | i) Legal and professional fees |  |  | 1,720 |  |  |  | 2,207 |  |  |  | 1,224 |  |  |  | 3,927 |  |  |  | 2,535 |  |  |  | 5,561 |
|  | j) Marketing and brand building |  |  | 510 |  |  |  | 425 |  |  |  | 267 |  |  |  | 935 |  |  |  | 396 |  |  |  | 1,011 |
|  | k) Lifetime expected credit loss/ (write-back) |  |  | 48 |  |  |  | (253 | ) |  |  | 256 |  |  |  | (205 | ) |  |  | 1,845 |  |  |  | 1,506 |
|  | l) Other expenses |  |  | 3,123 |  |  |  | 2,909 |  |  |  | 1,030 |  |  |  | 6,032 |  |  |  | 4,649 |  |  |  | 8,723 |
II |  | Total expenses |  |  | 162,702 |  |  |  | 151,114 |  |  |  | 123,170 |  |  |  | 313,816 |  |  |  | 246,665 |  |  |  | 499,291 |
III |  | Finance expenses |  |  | 1,459 |  |  |  | 746 |  |  |  | 1,267 |  |  |  | 2,205 |  |  |  | 2,566 |  |  |  | 5,088 |
IV |  | Finance and Other Income |  |  | 4,114 |  |  |  | 4,619 |  |  |  | 5,209 |  |  |  | 8,733 |  |  |  | 10,490 |  |  |  | 20,912 |
V |  | Share of net profit/ (loss) of associates accounted for using the equity method |  |  | (10 | ) |  |  | 7 |  |  |  | (6 | ) |  |  | (3 | ) |  |  | 25 |  |  |  | 130 |
VI |  | Profit before tax [I-II-III+IV+V] |  |  | 37,565 |  |  |  | 38,600 |  |  |  | 32,071 |  |  |  | 76,165 |  |  |  | 63,022 |  |  |  | 139,007 |
VII |  | Tax expense |  |  | 8,259 |  |  |  | 6,225 |  |  |  | 7,228 |  |  |  | 14,484 |  |  |  | 14,066 |  |  |  | 30,345 |
VIII |  | Profit for the period [VI-VII] |  |  | 29,306 |  |  |  | 32,375 |  |  |  | 24,843 |  |  |  | 61,681 |  |  |  | 48,956 |  |  |  | 108,662 |
IX |  | Total Other comprehensive income |  |  | 2,055 |  |  |  | 3,302 |  |  |  | 682 |  |  |  | 5,357 |  |  |  | 5,671 |  |  |  | 6,679 |
|  | Total comprehensive income for the period [VIII+IX] |  |  | 31,361 |  |  |  | 35,677 |  |  |  | 25,525 |  |  |  | 67,038 |  |  |  | 54,627 |  |  |  | 115,341 |
X |  | Profit for the period attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Equity holders of the Company |  |  | 29,307 |  |  |  | 32,321 |  |  |  | 24,656 |  |  |  | 61,628 |  |  |  | 48,558 |  |  |  | 107,946 |
|  | Non-controlling Interests |  |  | (1 | ) |  |  | 54 |  |  |  | 187 |  |  |  | 53 |  |  |  | 398 |  |  |  | 716 |
|  |  |  |  | 29,306 |  |  |  | 32,375 |  |  |  | 24,843 |  |  |  | 61,681 |  |  |  | 48,956 |  |  |  | 108,662 |
|  | Total comprehensive income for the period attributable to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Equity holders of the Company |  |  | 31,362 |  |  |  | 35,600 |  |  |  | 25,312 |  |  |  | 66,962 |  |  |  | 54,267 |  |  |  | 114,678 |
|  | Non-controlling Interests |  |  | (1 | ) |  |  | 77 |  |  |  | 213 |  |  |  | 76 |  |  |  | 360 |  |  |  | 663 |
|  |  |  |  | 31,361 |  |  |  | 35,677 |  |  |  | 25,525 |  |  |  | 67,038 |  |  |  | 54,627 |  |  |  | 115,341 |
XI |  | Paid up equity share capital (Par value ₹ 2 per share) |  |  | 10,962 |  |  |  | 10,958 |  |  |  | 11,430 |  |  |  | 10,962 |  |  |  | 11,430 |  |  |  | 10,958 |

1

XII |  | Reserves excluding revaluation reserves and Non-controlling Interests as per balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 542,137 |
XIII |  | Earnings per share (EPS) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | (Equity shares of par value of ₹ 2/- each) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | (EPS for the three and six months ended periods is not annualized) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Basic (in ₹) |  |  | 5.36 |  |  |  | 5.92 |  |  |  | 4.33 |  |  |  | 11.28 |  |  |  | 8.53 |  |  |  | 19.11 |
|  | Diluted (in ₹) |  |  | 5.35 |  |  |  | 5.90 |  |  |  | 4.32 |  |  |  | 11.25 |  |  |  | 8.51 |  |  |  | 19.07 |

1. | The audited consolidated financial results of the Company for the three and six months ended September 30, 2021 have been approved by the Board of Directors of the Company at its meeting held on October 13, 2021. The Company confirms that its statutory auditors, Deloitte Haskins & Sells LLP have issued an audit report with unmodified opinion on the consolidated financial results.

2. | The above consolidated financial results have been prepared from the interim condensed consolidated 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”). All amounts included in the consolidated financial results (including notes) are reported in millions of Indian rupees (₹ in millions) except share and per share data, unless otherwise stated.

3. | Estimation uncertainty relating to the global health pandemic on COVID-19

In assessing the recoverability of receivables including unbilled receivables, contract assets and contract costs, goodwill, intangible assets, and certain investments, the Company has considered internal and external information up to the date of approval of these consolidated financial results including credit reports and economic forecasts. The Company has performed sensitivity analysis on the assumptions used herein. Based on the current indicators of future economic conditions, the Company expects to recover the carrying amount of these assets.

The Company basis its assessment believes that the probability of the occurrence of forecasted transactions is not impacted by COVID-19. The Company has also considered the effect of changes, if any, in both counterparty credit risk and own credit risk while assessing hedge effectiveness and measuring hedge ineffectiveness and continues to believe that there is no impact on effectiveness of its hedges.

The impact of COVID-19 remains uncertain and may be different from what had been estimated as of the date of approval of these consolidated financial results and the Company will continue to closely monitor any material changes to future economic conditions.

4. | List of subsidiaries and investments accounted for using equity method as at September 30, 2021 are provided in the table below:

Subsidiaries |  | Subsidiaries |  | Subsidiaries |  | Country of Incorporation
Wipro, LLC |  |  |  |  |  | USA
|  | Wipro Gallagher Solutions, LLC |  |  |  | USA
|  |  |  | Wipro Opus Risk Solutions LLC (formerly known as Wipro Opus Mortgage Solutions LLC) |  | USA
|  | Wipro Insurance Solutions, LLC |  |  |  | USA
|  | Wipro IT Services, LLC |  |  |  | USA
|  |  |  | HealthPlan Services, Inc. ** |  | USA
|  |  |  | Wipro Appirio, Inc. ** |  | USA
|  |  |  | Designit North America, Inc. |  | USA
|  |  |  | Infocrossing, LLC |  | USA
|  |  |  | Wipro US Foundation |  | USA
|  |  |  | International TechneGroup Incorporated ** |  | USA
|  |  |  | Wipro Designit Services, Inc. ** |  | USA
|  |  |  | Wipro VLSI Design Services, LLC |  | USA
|  |  |  | Cardinal US Holdings, Inc** |  | USA
Wipro Overseas IT Services Private Limited |  |  |  |  |  | India
Wipro Japan KK |  |  |  |  |  | Japan
|  | Designit Tokyo Ltd. |  |  |  | Japan
Wipro Shanghai Limited |  |  |  |  |  | China
Wipro Trademarks Holding Limited |  |  |  |  |  | India
Wipro Travel Services Limited |  |  |  |  |  | India
Wipro Holdings (UK) Limited |  |  |  |  |  | U.K.
|  | Designit A/S |  |  |  | Denmark
|  |  |  | Designit Denmark A/S |  | Denmark
|  |  |  | Designit Germany GmbH |  | Germany
|  |  |  | Designit Oslo A/S |  | Norway
|  |  |  | Designit Sweden AB |  | Sweden
|  |  |  | Designit T.L.V Ltd. |  | Israel
|  |  |  | Designit Spain Digital, S.L.U ** |  | Spain

2

|  | Wipro Europe Limited |  |  |  | U.K.
|  |  |  | Wipro UK Limited |  | U.K.
|  | Wipro Financial Services UK Limited |  |  |  | U.K.
|  | Wipro IT Services S.R.L. |  |  |  | Romania
|  | Wipro Gulf LLC |  |  |  | Sultanate of Oman
|  | Wipro Bahrain Limited Co. W.L.L |  |  |  | Bahrain
|  | Wipro 4C NV |  |  |  | Belgium
|  |  |  | Wipro 4C Danmark ApS |  | Denmark
|  |  |  | 4C Nederland B.V |  | Netherlands
|  |  |  | Wipro Weare4C UK Limited ** |  | U.K.
|  |  |  | Wipro 4C Consulting France SAS |  | France
Wipro IT Services UK Societas |  |  |  |  |  | U.K.
|  | Wipro Doha LLC # |  |  |  | Qatar
|  | Wipro Technologies SA DE CV |  |  |  | Mexico
|  | Wipro Holdings Hungary Korlátolt Felelősségű Társaság |  |  |  | Hungary
|  |  |  | Wipro Holdings Investment Korlátolt Felelősségű Társaság |  | Hungary
|  | Wipro Information Technology Egypt SAE |  |  |  | Egypt
|  | Wipro Arabia Co. Limited * |  |  |  | Saudi Arabia
|  |  |  | Women’s Business Park Technologies Limited * |  | Saudi Arabia
|  | Wipro Poland SP Z.O.O |  |  |  | Poland
|  | Wipro IT Services Poland SP Z.O.O |  |  |  | Poland
|  | Wipro Technologies Australia Pty Ltd |  |  |  | Australia
|  |  |  | Ampion Holdings Pty Ltd** |  | Australia
|  | Wipro Corporate Technologies Ghana Limited |  |  |  | Ghana
|  | Wipro Technologies South Africa (Proprietary) Limited |  |  |  | South Africa
|  |  |  | Wipro Technologies Nigeria Limited |  | Nigeria
|  | Wipro IT Service Ukraine, LLC |  |  |  | Ukraine
|  | Wipro Information Technology Netherlands BV. |  |  |  | Netherlands
|  |  |  | Wipro Portugal S.A. ** |  | Portugal
|  |  |  | Wipro Technologies Limited |  | Russia
|  |  |  | Wipro Technology Chile SPA |  | Chile
|  |  |  | Wipro Solutions Canada Limited |  | Canada
|  |  |  | Wipro Information Technology Kazakhstan LLP |  | Kazakhstan
|  |  |  | Wipro Technologies W.T. Sociedad Anonima |  | Costa Rica
|  |  |  | Wipro Outsourcing Services (Ireland) Limited |  | Ireland
|  |  |  | Wipro Technologies VZ, C.A. |  | Venezuela
|  |  |  | Wipro Technologies Peru SAC |  | Peru
|  |  |  | Wipro do Brasil Technologia Ltda ** |  | Brazil
|  | Wipro Technologies SA |  |  |  | Argentina
|  | Wipro Technologies SRL |  |  |  | Romania
|  | PT. WT Indonesia |  |  |  | Indonesia
|  | Wipro (Thailand) Co. Limited |  |  |  | Thailand
|  | Rainbow Software LLC |  |  |  | Iraq
|  | Cardinal Foreign Holdings S.á.r.l |  |  |  | Luxembourg
|  |  |  | Cardinal Foreign Holdings 2 S.á.r.l ** |  | Luxembourg
Wipro Networks Pte Limited |  |  |  |  |  | Singapore
|  | Wipro (Dalian) Limited |  |  |  | China
|  | Wipro Technologies SDN BHD |  |  |  | Malaysia
Wipro Chengdu Limited |  |  |  |  |  | China
Wipro Philippines, Inc. |  |  |  |  |  | Philippines
Wipro IT Services Bangladesh Limited |  |  |  |  |  | Bangladesh
Wipro HR Services India Private Limited |  |  |  |  |  | India
Encore Theme Technologies Private Limited * |  |  |  |  |  | India

3

Wipro VLSI Design Services India Private Limited (Formerly known as Eximius Design India Private Limited) |  | India
Capco Technologies Private Limited |  | India

* | All the above direct subsidiaries are 100% held by the Company except that the Company holds 83.4% of the equity securities of Encore Theme Technologies Private Limited, 66.67% of the equity securities of Wipro Arabia Co. Limited and 55% of the equity securities of Women’s Business Park Technologies Limited are held by Wipro Arabia Co. Limited.

The remaining 16.6% equity securities of Encore Theme Technologies Private Limited will be acquired subject to and after receipt of certain regulatory approvals/confirmations.

# 51% of equity securities of Wipro Doha LLC are held by a local shareholder. However, the beneficial interest in these holdings is with the Company.

The Company controls ‘The Wipro SA Broad Based Ownership Scheme Trust’, ‘Wipro SA Broad Based Ownership Scheme SPV (RF) (PTY) LTD incorporated in South Africa and Wipro Foundation in India.

** | Step Subsidiary details of Wipro Portugal S.A, Wipro do Brasil Technologia Ltda, Designit Spain Digital, S.L, HealthPlan Services, Inc, International TechneGroup Incorporated, Wipro Appirio, Inc., Wipro Designit Services, Inc and Wipro Weare4C UK Limited, Cardinal US Holdings, Inc, Cardinal Foreign Holdings 2 S.á.r.l, Ampion Holdings Pty Ltd are as follows:

Subsidiaries |  | Subsidiaries |  | Subsidiaries |  | Country of Incorporation
Wipro Portugal S.A. |  |  |  |  |  | Portugal
|  | Wipro Technologies GmbH |  |  |  | Germany
|  |  |  | Wipro IT Services Austria GmbH |  | Austria
|  |  |  | Wipro Business Solutions GmbH (formerly known as Metro-nom GmbH)*** |  | Germany
Wipro do Brasil Technologia Ltda |  |  |  |  |  | Brazil
|  | Wipro Do Brasil Sistemetas De Informatica Ltd |  |  |  | Brazil
|  | Wipro do Brasil Servicos Ltda |  |  |  | Brazil
Designit Spain Digital, S.L. |  |  |  |  |  | Spain
|  | Designit Peru SAC |  |  |  | Peru
HealthPlan Services, Inc. |  |  |  |  |  | USA
|  | HealthPlan Services Insurance Agency, LLC |  |  |  | USA
International TechneGroup Incorporated |  |  |  |  |  | USA
|  | International TechneGroup Ltd. |  |  |  | U.K.
|  | ITI Proficiency Ltd |  |  |  | Israel
|  | International TechneGroup S.R.L. |  |  |  | Italy
|  |  |  | MechWorks S.R.L. |  | Italy
Wipro Appirio, Inc. |  |  |  |  |  | USA
|  | Wipro Appirio, K.K. |  |  |  | Japan
|  | Topcoder, LLC. |  |  |  | USA
|  | Wipro Appirio (Ireland) Limited |  |  |  | Ireland
|  |  |  | Wipro Appirio UK Limited |  | U.K.
Wipro Designit Services, Inc |  |  |  |  |  | USA
|  | Wipro Designit Services Limited |  |  |  | Ireland
Wipro Weare4C UK Limited |  |  |  |  |  | U.K.
|  | CloudSocius DMCC |  |  |  | UAE
Cardinal Foreign Holdings 2 S.á.r.l |  |  |  |  |  | Luxembourg
|  | Grove Holdings 2 S.á.r.l |  |  |  | Luxembourg
|  |  |  | The Capital Markets Company BV*** |  | Belgium
|  |  |  | Capco Brasil Serviços E Consultoria Em Informática Ltda |  | Brazil
Cardinal US Holdings, Inc |  |  |  |  |  | USA
|  | The Capital Markets Company LLC |  |  |  | USA
|  |  |  | CAPCO (US) LLC |  | USA
|  | Capco Consulting Services LLC |  |  |  | USA
|  | Capco RISC Consulting LLC |  |  |  | USA
|  | ATOM Solutions LLC |  |  |  | USA
|  | NEOS Holdings LLC |  |  |  | USA
|  |  |  | NEOS LLC |  | USA
|  |  |  | NEOS Software LLC |  | USA

4

Ampion Holdings Pty Ltd |  |  |  |  |  | Australia
|  | Ampion Pty Ltd |  |  |  | Australia
|  |  |  | Crowdsprint Pty Ltd |  | Australia
|  |  |  | Revolution IT Pty Ltd |  | Australia
|  |  |  | Iris Holdco Pty Ltd*** |  | Australia

*** | Step Subsidiary details of The Capital Markets Company BV and Wipro Business Solutions GmbH (formerly known as Metro-nom GmbH) and Iris Holdco Pty Ltd are as follows:

Subsidiaries |  | Subsidiaries |  | Subsidiaries |  | Country of Incorporation
The Capital Markets Company BV |  |  |  |  |  | Belgium
|  | Capco Belgium BV |  |  |  | Belgium
|  | The Capital Markets Company (UK) Ltd |  |  |  | UK
|  |  |  | Capco (UK) 1, Limited |  | UK
|  | The Capital Markets Company Limited |  |  |  | Canada
|  |  |  | Capco (US) GP LLC**** |  | USA
|  | The Capital Markets Company Limited |  |  |  | Hong Kong
|  |  |  | Capco Consulting Services (Guangzhou) Company Limited |  | China
|  | The Capital Markets Company s.r.o |  |  |  | Slovakia
|  | The Capital Markets Company S.A.S |  |  |  | France
|  | Capco Poland sp. z.o.o |  |  |  | Poland
|  | The Capital Markets Company S.á.r.l |  |  |  | Switzerland
|  |  |  | Andrion AG |  | Switzerland
|  | The Capital Markets Company BV |  |  |  | Netherlands
|  | CapAfric Consulting (Pty) Ltd |  |  |  | South Africa
|  | Capco Consulting Singapore Pte. Ltd |  |  |  | Singapore
|  | Capco Sweden AB |  |  |  | Sweden
|  | The Capital Markets Company GmbH |  |  |  | Germany
|  |  |  | Capco Austria GmbH |  | Austria
|  | Capco Consultancy (Malaysia) Sdn. Bhd |  |  |  | Malaysia
|  | Capco Greece Single Member P.C |  |  |  | Greece
|  | Capco Consultancy (Thailand) Ltd |  |  |  | Thailand
Wipro Business Solutions GmbH (formerly known as Metro-nom GmbH) |  |  |  |  |  | Germany
|  | Metro Systems Romania S.R.L |  |  |  | Romania
Iris Holdco Pty Ltd |  |  |  |  |  | Australia
|  | Iris Bidco Pty Ltd |  |  |  | Australia
|  |  |  | Shelde Pty Ltd |  | Australia

**** | Step Subsidiary details of Capco (US) GP LLC is as follows:

Subsidiaries |  | Subsidiaries |  | Subsidiaries |  | Country of Incorporation
Capco (US) GP LLC |  |  |  |  |  | USA
|  | Capco (Canada) GP ULC |  |  |  | Canada

As at September 30, 2021, the Company held 43.7% interest in Drivestream Inc, accounted for using the equity method.

As at September 30, 2021, The Capital Markets Company Limited (Canada) and Capco (Canada) GP ULC act as Limited and General Partners, respectively in Capco (Canada) LP.

The list of controlled trusts are:

Name of the entity |  | Country of incorporation
Wipro Equity Reward Trust |  | India
Wipro Foundation |  | India
Capco (Canada) LP@ |  | Canada

@ | The Capital Markets Company Limited (Canada) and Capco (Canada) GP ULC act as Limited and General Partners, respectively.

5

5. | Segment Information

The Company is organized into the following operating segments: IT Services, IT Products and India State Run Enterprise segment (“ISRE”).

IT Services: During the year ended March 31, 2021, in order to broad base our growth, the Company re-organized IT Services segment to four Strategic Market Units (“SMUs”) - Americas 1, Americas 2, Europe and Asia Pacific Middle East Africa (“APMEA”).

Americas 1 and Americas 2 are primarily organized by industry sector, while Europe and APMEA are organized by countries.

Americas 1 includes the entire business of Latin America (“LATAM”) and the following industry sectors in the United States of America: healthcare and medical devices, consumer goods and life sciences, retail, transportation and services, communications, media and information services, technology products and platforms. Americas 2 includes the entire business in Canada and the following industry sectors in the United States of America: banking, financial services and insurance, manufacturing, hi-tech, energy and utilities. Europe consists of the United Kingdom and Ireland, Switzerland, Germany, Benelux, the Nordics and Southern Europe. APMEA consists of Australia and New Zealand, India, Middle East, South East Asia, Japan and Africa.

The corresponding information for the three and six months ended September 30, 2020 has been re-stated to give effect to the above changes.

Revenue from each customer is attributed to the respective SMUs based on the location of the customer’s primary buying center of such services. With respect to certain strategic global customers, revenue may be generated from multiple countries based on such customer’s buying centers, but the total revenue related to these strategic global customers are attributed to a single SMU based on the geographical location of key decision makers.

Prior to the Company’s re-organization of its IT services segment, the IT services segment was organized by seven industry verticals: Banking, Financial Services and Insurance (“BFSI”), Health Business unit (“Health BU”), Consumer Business unit (“CBU”), Energy, Natural Resources & Utilities (“ENU”), Manufacturing (“MFG”), Technology (“TECH”) and Communications (“COMM”).

Our IT Services segment provides a range of IT and IT enabled services which include digital strategy advisory, customer centric design, technology consulting, IT consulting, custom application design, development, re-engineering and maintenance, systems integration, package implementation, cloud and infrastructure services, business process services, cloud, mobility and analytics services, research and development and hardware and software design.

IT Products: The Company is a value-added reseller of security, packaged and SaaS 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.

ISRE: This segment consists of IT Services offerings to entities and/or departments owned or controlled by Government of India and/or any State Governments.

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 and operating income.

Assets and liabilities used in the Company’s business are not identified to any of the operating segments, as these are used interchangeably between segments. Management believes that it is currently not practicable to provide segment disclosures relating to total assets and liabilities since a meaningful segregation of the available data is onerous.

Information on reportable segments for the three months ended September 30, 2021, June 30, 2021 and September 30, 2020, six months ended September 30, 2021 and September 30, 2020 and year ended March 31, 2021 are as follows:

Particulars |  | Three months ended |  |  | Six months ended |  |  | Year ended |
| September 30, 2021 |  |  | June 30, 2021 |  |  | September 30, 2020 |  |  | September 30, 2021 |  |  | September 30, 2020 |  |  | March 31, 2021 |
| Audited |  |  | Audited |  |  | Audited |  |  | Audited |  |  | Audited |  |  | Audited |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IT Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas 1 |  |  | 53,205 |  |  |  | 49,683 |  |  |  | 43,954 |  |  |  | 102,888 |  |  |  | 86,566 |  |  |  | 178,091 |
Americas 2 |  |  | 59,260 |  |  |  | 55,105 |  |  |  | 44,450 |  |  |  | 114,365 |  |  |  | 88,644 |  |  |  | 179,821 |
Europe |  |  | 58,619 |  |  |  | 54,461 |  |  |  | 38,510 |  |  |  | 113,080 |  |  |  | 77,454 |  |  |  | 165,441 |
APMEA |  |  | 22,715 |  |  |  | 21,232 |  |  |  | 20,762 |  |  |  | 43,947 |  |  |  | 40,920 |  |  |  | 82,462 |

6

Total of IT Services |  |  | 193,799 |  |  |  | 180,481 |  |  |  | 147,676 |  |  |  | 374,280 |  |  |  | 293,584 |  |  |  | 605,815 |
IT Products |  |  | 1,894 |  |  |  | 1,311 |  |  |  | 1,699 |  |  |  | 3,205 |  |  |  | 4,005 |  |  |  | 7,685 |
ISRE |  |  | 1,867 |  |  |  | 1,937 |  |  |  | 2,111 |  |  |  | 3,804 |  |  |  | 4,222 |  |  |  | 8,912 |
Reconciling Items |  |  | 47 |  |  |  | (45 | ) |  |  | (3 | ) |  |  | 2 |  |  |  | 8 |  |  |  | 13 |
Total Revenue |  |  | 197,607 |  |  |  | 183,684 |  |  |  | 151,483 |  |  |  | 381,291 |  |  |  | 301,819 |  |  |  | 622,425 |
Other operating income/(loss), net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IT Services |  |  | 15 |  |  |  | 2,150 |  |  |  | (178 | ) |  |  | 2,165 |  |  |  | (81 | ) |  |  | (81 | )
Total Other operating income/(loss), net |  |  | 15 |  |  |  | 2,150 |  |  |  | (178 | ) |  |  | 2,165 |  |  |  | (81 | ) |  |  | (81 | )
Segment Result |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
IT Services |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas 1 |  |  | 10,521 |  |  |  | 9,379 |  |  |  | 8,598 |  |  |  | 19,900 |  |  |  | 15,102 |  |  |  | 33,040 |
Americas 2 |  |  | 11,819 |  |  |  | 11,350 |  |  |  | 10,477 |  |  |  | 23,169 |  |  |  | 20,899 |  |  |  | 41,589 |
Europe |  |  | 9,186 |  |  |  | 8,325 |  |  |  | 6,139 |  |  |  | 17,511 |  |  |  | 13,686 |  |  |  | 31,673 |
APMEA |  |  | 3,028 |  |  |  | 3,066 |  |  |  | 3,078 |  |  |  | 6,094 |  |  |  | 5,624 |  |  |  | 11,476 |
Unallocated |  |  | (156 | ) |  |  | 56 |  |  |  | 203 |  |  |  | (100 | ) |  |  | 951 |  |  |  | 5,153 |
Other operating income/(loss), net |  |  | 15 |  |  |  | 2,150 |  |  |  | (178 | ) |  |  | 2,165 |  |  |  | (81 | ) |  |  | (81 | )
Total of IT Services |  |  | 34,413 |  |  |  | 34,326 |  |  |  | 28,317 |  |  |  | 68,739 |  |  |  | 56,181 |  |  |  | 122,850 |
IT Products |  |  | 94 |  |  |  | (53 | ) |  |  | (301 | ) |  |  | 41 |  |  |  | (178 | ) |  |  | 45 |
ISRE |  |  | 393 |  |  |  | 475 |  |  |  | 109 |  |  |  | 868 |  |  |  | 3 |  |  |  | 1,061 |
Reconciling Items |  |  | 20 |  |  |  | (28 | ) |  |  | 10 |  |  |  | (8 | ) |  |  | (933 | ) |  |  | (903 | )
Total |  |  | 34,920 |  |  |  | 34,720 |  |  |  | 28,135 |  |  |  | 69,640 |  |  |  | 55,073 |  |  |  | 123,053 |
Finance expenses |  |  | (1,459 | ) |  |  | (746 | ) |  |  | (1,267 | ) |  |  | (2,205 | ) |  |  | (2,566 | ) |  |  | (5,088 | )
Finance and Other Income |  |  | 4,114 |  |  |  | 4,619 |  |  |  | 5,209 |  |  |  | 8,733 |  |  |  | 10,490 |  |  |  | 20,912 |
Share of net profit/ (loss) of associates accounted for using the equity method |  |  | (10 | ) |  |  | 7 |  |  |  | (6 | ) |  |  | (3 | ) |  |  | 25 |  |  |  | 130 |
Profit before tax |  |  | 37,565 |  |  |  | 38,600 |  |  |  | 32,071 |  |  |  | 76,165 |  |  |  | 63,022 |  |  |  | 139,007 |

Notes

| a) | Effective beginning of fiscal year ended March 31, 2021, revenue from sale of traded cloud-based licenses is no longer reported in IT Services revenue and finance income on deferred consideration earned under total outsourcing contracts is not included in segment revenue. Further, for evaluating performance of the individual operating segments, stock compensation expense is allocated based on the accelerated amortization as per IFRS 2. Segment information for the three and six months ended September 30, 2020 has been re-stated to give effect to these changes.

| b) | “Reconciling items” includes elimination of inter-segment transactions and other corporate activities.

| c) | Revenue from sale of company owned intellectual properties is reported as part of IT Services revenues.

| d) | For the purpose of segment reporting, the Company has included the net impact of foreign exchange in revenues amounting to ₹ 933, ₹ 1,160 and ₹ 338 for the three months ended September 30, 2021, June 30, 2021, and September 30, 2020 respectively, ₹ 2,093 and ₹ 1,543 for the six months ended September 30, 2021, September 30, 2020, and ₹ 2,995 for the year ended March 31, 2021, which is reported under foreign exchange gains in the consolidated financial results.

| e) | During the six months ended September 30, 2020, and year ended March 31, 2021 the Company has contributed ₹ 991 towards COVID-19 and is reported in Reconciling items.

| f) | Segment results for the three and six months ended September 30, 2020 are after considering the impact of impairment charge of ₹ 263 and ₹ 192 in Americas 1 and Europe respectively. The remaining impairment charge of ₹ 106 and ₹ 299 for the three and six months ended September 30, 2020, respectively is included under unallocated.

| g) | Segment results for the year ended March 31, 2021, are after considering the impact of impairment charge of ₹ 1,250 in Americas 1 and ₹ 192 in Europe, respectively. Further, an impairment charge of ₹ 674 for the year ended March 31, 2021, respectively towards certain marketing-related intangible assets and software platform recognized on acquisitions, is allocated to all IT Services SMUs. The remaining impairment charge of ₹ 302 for the year ended March 31, 2021 is included under unallocated.

| h) | Segment results for the year ended March 31, 2021, are after considering additional amortization of ₹ 795 in Americas 2 due to change in our estimate of useful life of the customer-related intangibles in an earlier business combination.

| i) | Other operating income/(loss) of ₹ 15, ₹ 2,150 and ₹ (178) for the three months ended September 30, 2021, June 30, 2021, and September 30, 2020 respectively, ₹ 2,165 and ₹ (81) for the six months ended September 30, 2021, September 30, 2020, and ₹ (81) for the year ended March 31, 2021. Refer to Note 6.

| j) | Segment results of IT Services segment are after recognition of share-based compensation expense ₹ 652, ₹ 977 and ₹ 869 for the three months ended September 30, 2021, June 30, 2021 and September 30, 2020 respectively, ₹ 1,629 and ₹ 1,229 for the six months ended September 30, 2021 and September 30, 2020 respectively, and ₹ 2,897 for the year ended March 31, 2021.

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6. | Other operating income/(loss), net

The Company has partially met the first and second-year business targets pertaining to sale of hosted data center business concluded during the year ended March 31, 2019. Change in fair value of the callable units pertaining to achievement of cumulative business targets amounting to ₹ (178) and ₹ (81) for the three and six months ended September 30, 2020 has been recognized under other operating income/(loss), net.

During the six months ended September 30, 2021, as a result of acquisition by another investor, the Company sold its investment in Ensono Holdings, LLC for a consideration of ₹ 5,587 and recognized a cumulative gain of ₹ 1,243 (net of tax ₹ 427) in other comprehensive income being profit on sale of investment designated as FVTOCI. The Company also recognized ₹ 1,224 for the six months ended September 30, 2021 under other operating income/(loss), net towards change in fair value of callable units pertaining to achievement of cumulative business targets.

During the six months ended September 30, 2021, as a result of acquisition of by another investor, the Company sold its investment in Denim Group, Ltd. and Denim Group Management, LLC (“Denim Group”), accounted for using the equity method, for a consideration of ₹ 1,640 and recognized a cumulative gain of ₹ 941 in other operating income/(loss), net including reclassification of exchange differences on foreign currency translation.

7. | Business combinations

Summary of acquisitions during the six months ended September 30, 2021 is given below:

Capco

On March 4, 2021, the Company entered into a definitive agreement to acquire 100% equity interest in Capco, a global management and technology consultancy company providing digital, consulting and technology services to financial institutions in the Americas, Europe and Asia Pacific, and its subsidiaries. The acquisition was consummated on April 29, 2021 and total cash consideration paid was ₹ 109,530. The following table presents the provisional purchase price allocation:

Description |  | Acquiree’s carrying amount |  |  | Fair value adjustments |  |  | Purchase price allocated |
Net assets |  | ₹ | 4,379 |  |  | ₹ | — |  |  | ₹ | 4,379 |
Customer-related intangibles |  |  | — |  |  |  | 24,273 |  |  |  | 24,273 |
Marketing-related intangibles |  |  | — |  |  |  | 8,083 |  |  |  | 8,083 |
Deferred tax liabilities on intangible assets |  |  | — |  |  |  | (9,383 | ) |  |  | (9,383 | )
Total |  | ₹ | 4,379 |  |  | ₹ | 22,973 |  |  | ₹ | 27,352 |
Goodwill |  |  |  |  |  |  |  |  |  |  | 82,178 |
Total purchase price |  |  |  |  |  |  |  |  |  | ₹ | 109,530 |

Ampion

On April 1, 2021, the Company entered into a definitive agreement to acquire 100% equity interest in Ampion, an Australia-based provider of cyber security, DevOps and quality engineering services. The acquisition was consummated on August 6, 2021 and total cash consideration paid was ₹ 9,102. The following table presents the provisional purchase price allocation:

Description |  | Acquiree’s carrying amount |  |  | Fair value adjustments |  |  | Purchase price allocated |
Net assets |  | ₹ | 1,084 |  |  | ₹ | — |  |  | ₹ | 1,084 |
Customer-related intangibles |  |  | — |  |  |  | 1,748 |  |  |  | 1,748 |
Marketing-related intangibles |  |  | — |  |  |  | 461 |  |  |  | 461 |
Deferred tax liabilities on intangible assets |  |  | — |  |  |  | (663 | ) |  |  | (663 | )
Total |  | ₹ | 1,084 |  |  | ₹ | 1,546 |  |  | ₹ | 2,630 |
Goodwill |  |  |  |  |  |  |  |  |  |  | 6,472 |
Total purchase price |  |  |  |  |  |  |  |  |  | ₹ | 9,102 |

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8. | Consolidated Balance Sheet

|  | As at March 31, 2021 |  |  | As at September 30, 2021 |
ASSETS |  |  |  |  |  |  |  |
Goodwill |  |  | 139,127 |  |  |  | 228,763 |
Intangible assets |  |  | 13,085 |  |  |  | 42,808 |
Property, plant and equipment |  |  | 85,192 |  |  |  | 88,813 |
Right-of-use assets |  |  | 16,420 |  |  |  | 18,305 |
Financial assets |  |  |  |  |  |  |  |
Derivative assets |  |  | 16 |  |  |  | 28 |
Investments |  |  | 10,576 |  |  |  | 13,208 |
Trade receivables |  |  | 4,358 |  |  |  | 4,378 |
Other financial assets |  |  | 6,088 |  |  |  | 8,057 |
Investments accounted for using the equity method |  |  | 1,464 |  |  |  | 698 |
Deferred tax assets |  |  | 1,664 |  |  |  | 2,576 |
Non-current tax assets |  |  | 14,323 |  |  |  | 10,740 |
Other non-current assets |  |  | 15,935 |  |  |  | 11,668 |
Total non-current assets |  |  | 308,248 |  |  |  | 430,042 |
Inventories |  |  | 1,064 |  |  |  | 778 |
Financial assets |  |  |  |  |  |  |  |
Derivative assets |  |  | 4,064 |  |  |  | 4,308 |
Investments |  |  | 175,707 |  |  |  | 175,223 |
Cash and cash equivalents |  |  | 169,793 |  |  |  | 142,026 |
Trade receivables |  |  | 94,298 |  |  |  | 108,507 |
Unbilled receivables |  |  | 27,124 |  |  |  | 38,375 |
Other financial assets |  |  | 7,245 |  |  |  | 10,495 |
Contract assets |  |  | 16,507 |  |  |  | 20,467 |
Current tax assets |  |  | 2,461 |  |  |  | 4,717 |
Other current assets |  |  | 24,923 |  |  |  | 27,199 |
Total current assets |  |  | 523,186 |  |  |  | 532,095 |
TOTAL ASSETS |  |  | 831,434 |  |  |  | 962,137 |
EQUITY |  |  |  |  |  |  |  |
Share capital |  |  | 10,958 |  |  |  | 10,962 |
Share premium |  |  | 714 |  |  |  | 1,164 |
Retained earnings |  |  | 466,692 |  |  |  | 526,654 |
Share-based payment reserve |  |  | 3,071 |  |  |  | 3,807 |
SEZ Re-investment reserve |  |  | 41,154 |  |  |  | 43,237 |
Other components of equity |  |  | 30,506 |  |  |  | 35,840 |
Equity attributable to the equity holders of the Company |  |  | 553,095 |  |  |  | 621,664 |
Non-controlling interests |  |  | 1,498 |  |  |  | 1,088 |
TOTAL EQUITY |  |  | 554,593 |  |  |  | 622,752 |
LIABILITIES |  |  |  |  |  |  |  |
Financial liabilities |  |  |  |  |  |  |  |
Loans and borrowings |  |  | 7,458 |  |  |  | 55,319 |
Lease liabilities |  |  | 13,513 |  |  |  | 15,283 |
Other financial liabilities |  |  | 2,291 |  |  |  | 2,326 |
Deferred tax liabilities |  |  | 4,633 |  |  |  | 14,902 |
Non-current tax liabilities |  |  | 11,069 |  |  |  | 11,415 |
Other non-current liabilities |  |  | 7,835 |  |  |  | 8,871 |
Provisions |  |  | 2 |  |  |  | 1 |
Total non-current liabilities |  |  | 46,801 |  |  |  | 108,117 |
Financial liabilities |  |  |  |  |  |  |  |
Loans, borrowings and bank overdrafts |  |  | 75,874 |  |  |  | 58,910 |
Derivative liabilities |  |  | 1,070 |  |  |  | 432 |
Trade payables and accrued expenses |  |  | 78,870 |  |  |  | 90,782 |
Lease liabilities |  |  | 7,669 |  |  |  | 8,697 |
Other financial liabilities |  |  | 1,470 |  |  |  | 4,106 |
Contract liabilities |  |  | 22,535 |  |  |  | 21,577 |
Current tax liabilities |  |  | 17,324 |  |  |  | 19,385 |
Other current liabilities |  |  | 24,552 |  |  |  | 26,512 |
Provisions |  |  | 676 |  |  |  | 867 |
Total current liabilities |  |  | 230,040 |  |  |  | 231,268 |
TOTAL LIABILITIES |  |  | 276,841 |  |  |  | 339,385 |
TOTAL EQUITY AND LIABILITIES |  |  | 831,434 |  |  |  | 962,137 |

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9. Consolidated Statement of cash flows:

|  | Six months ended September 30, |
|  | 2020 |  |  | 2021 |
Cash flows from operating activities: |  |  |  |  |  |  |  |
Profit for the period |  |  | 48,956 |  |  |  | 61,681 |
Adjustments to reconcile profit for the period to net cash generated from operating activities: |  |  |  |  |  |  |  |
Gain on sale of property, plant and equipment, net |  |  | (309 | ) |  |  | (495 | )
Depreciation, amortization and impairment expense |  |  | 12,734 |  |  |  | 16,107 |
Unrealized exchange gain, net and exchange gain on borrowings |  |  | (3,015 | ) |  |  | (782 | )
Share-based compensation expense |  |  | 1,229 |  |  |  | 1,599 |
Share of net (profit)/ loss of associates accounted for using equity method |  |  | (25 | ) |  |  | 3 |
Income tax expense |  |  | 14,066 |  |  |  | 14,484 |
Finance and other income, net of finance expenses |  |  | (8,395 | ) |  |  | (5,043 | )
(Gain)/loss from sale of business and investment accounted for using the equity method |  |  | 81 |  |  |  | (2,165 | )
Changes in operating assets and liabilities, net of effects from acquisitions |  |  |  |  |  |  |  |
Trade receivables |  |  | 15,376 |  |  |  | (6,806 | )
Unbilled receivables and contract assets |  |  | 2,910 |  |  |  | (9,445 | )
Inventories |  |  | 554 |  |  |  | 290 |
Other assets |  |  | 4,061 |  |  |  | 64 |
Trade payables, accrued expenses, other liabilities and provisions |  |  | 7,774 |  |  |  | 2,445 |
Contract liabilities |  |  | 611 |  |  |  | (2,176 | )
Cash generated from operating activities before taxes |  |  | 96,608 |  |  |  | 69,761 |
Income taxes paid, net |  |  | (10,664 | ) |  |  | (12,345 | )
Net cash generated from operating activities |  |  | 85,944 |  |  |  | 57,416 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Purchase of property, plant and equipment |  |  | (8,353 | ) |  |  | (10,339 | )
Proceeds from sale of property, plant and equipment |  |  | 464 |  |  |  | 667 |
Purchase of investments |  |  | (584,747 | ) |  |  | (489,641 | )
Proceeds from sale of investments |  |  | 520,360 |  |  |  | 494,485 |
Payment for business acquisitions including deposits and escrow, net of cash acquired |  |  | (5,621 | ) |  |  | (113,503 | )
Proceeds from sale of investment accounted for using the equity method |  |  | — |  |  |  | 1,632 |
Interest received |  |  | 9,086 |  |  |  | 7,354 |
Dividend received |  |  | 1 |  |  |  | 2 |
Net cash used in investing activities |  |  | (68,810 | ) |  |  | (109,343 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from issuance of equity shares and shares pending allotment |  |  | 3 |  |  |  | 4 |
Repayment of loans and borrowings |  |  | (44,980 | ) |  |  | (141,069 | )
Proceeds from loans and borrowings |  |  | 43,412 |  |  |  | 173,485 |
Repayment of lease liabilities |  |  | (4,503 | ) |  |  | (4,889 | )
Interest and finance expenses paid |  |  | (1,739 | ) |  |  | (2,562 | )
Payment of cash dividend to Non-controlling interests holders |  |  | (960 | ) |  |  | (442 | )
Net cash (used in)/ generated from financing activities |  |  | (8,767 | ) |  |  | 24,527 |
Net increase/(decrease) in cash and cash equivalents during the period |  |  | 8,367 |  |  |  | (27,400 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | (49 | ) |  |  | (246 | )
Cash and cash equivalents at the beginning of the period |  |  | 144,104 |  |  |  | 169,663 |
Cash and cash equivalents at the end of the period |  |  | 152,422 |  |  |  | 142,017 |

10

10. | The Indian Parliament has approved the Code on Social Security, 2020 which would impact the contributions by the Company towards Provident Fund and Gratuity. The Ministry of Labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited suggestions from stake holders which are under active consideration by the Ministry. Based on an initial assessment by the Company and its Indian subsidiaries, the additional impact on Provident Fund contributions by the Company and its Indian subsidiaries is not expected to be material, whereas, the likely additional impact on Gratuity liability / contributions by the Company and its Indian subsidiaries could be material. The Company and its Indian subsidiaries will complete their evaluation once the subject rules are notified and will give appropriate impact in the financial results in the period in which, the Code becomes effective and the related rules to determine the financial impact are published.

11. | As part of customer contract with Metro AG, the Company has acquired Metro-nom GmbH (currently known as Wipro Business Solutions GmbH) and Metro Systems Romania S.R.L, the IT units of Metro AG in Germany and Romania, respectively, for a consideration of ₹ 4,967. Considering the terms and conditions of the agreement, the Company has concluded that this transaction does not meet the definition of Business under IFRS 3 “Business Combinations”. The transaction was consummated on April 1, 2021. The fair value of net assets acquired aggregating to ₹ 4,562 is allocated to respective assets and liabilities. The excess of consideration paid, and net assets taken over is accounted as ‘costs to obtain contract’, which will be amortized over the tenure of the contract as reduction in revenues.

12. | On June 23, 2021, Wipro IT Services LLC, a wholly owned step-down subsidiary of Wipro Limited, issued ₹ 55,673 (US$ 750 million) in unsecured notes 2026 (the “Notes”). The Notes bear interest at a rate of 1.50% per annum and will mature on June 23, 2026. The notes were issued at the discounted price of 99.636% against par value and have an effective interest rate of 1.6939% after considering the issue expenses and discount of ₹ 500 (US$6.7 million). Interest on the Notes is payable semi-annually on June 23 and December 23 of each year, commencing from December 23, 2021. The Notes are listed on Singapore Exchange Securities Trading Limited (SGX-ST).

By order of the Board, |  |  |  | For, Wipro Limited
Place: Bengaluru Date: October 13, 2021 |  |  |  | Rishad A. Premji Chairman

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