Management Discussion and Analysis Report. Global sourcing accounts for only a little over 10 per cent of global technology spending and this highlights India''s growth potential in the context of the large and untapped market opportunity. Pursuant to provisions of section and Articles of Association of the Company, Mr. Rishad A Premji will retire by rotation at the 72 nd AGM and being eligible, has offered himself for re-appointment. To the Members of Wipro Limited.
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Wipro was awarded the ''NASSCOM Corporate Award for Excellence in Diversity and Inclusion '', in the category of ''Best Program for Excellence in Gender Diversity'' for having institutionalized robust and successful programs for driving and sustaining gender diversity initiatives, policies and processes.
Corporate tax on dividend distribution. Financial Performance The standalone and consolidated financial statements for the financial year ended March 31,forming part of this Annual Report, have been prepared in accordance with the Indian Accounting Standards Ajnual AS as notified by the Ministry of Corporate Affairs.
nanual Vide notification dated May 7, issued by Ministry of Corporate Affairs, the requirement of annnual ratification of appointment of statutory auditors by members at each AGM has been done away with. With a view to strengthen the Corporate Governance framework, the Ministry of Corporate Affairs has incorporated certain provisions in the Companies Bill This partnership assumes significance as IGI airports new integrated terminal T3 will be the gateway for the Commonwealth Games scheduled to be held in New Delhi.
Accordingly, your Company spent Rs. During the financial yearyour Company invested an aggregate million in its direct subsidiaries. BFSI continues to be the largest vertical segment accounting 41 per cent of industry exports; however emerging verticals such as Retail, Healthcare and Utilities are estimated to grow faster.
Loss of '' million relating to changes in fair value of forward contracts designated as hedges of net investment in no integral foreign operations, translation of foreign currency borrowings and changes in fair value of related cross currency swaps together designated as hedges of net investment in non-integral foreign operations. In millions Standalone Consolidated Net profit for the year Balance of Reserve at the beginning of the year Transfer to General Reserve Balance of Reserve at the end of the year 77, 4,62, 4,13, 80, 5,11, 4,70, Subsidiary Companies In accordance with Section 3 of the Companies Act,a statement containing salient features of the financial statements of the subsidiary companies in Form AOC-1 is provided from pages to of this Annual Report.
Financial Performance Key highlights of consolidated financial performance for Wipro and its group companies and standalone financial results forWipro Limited for the financial year are tabulated below: Considering his immense contributions to the Company and pursuant to the recommendation of Board Governance, Nomination and Compensation Committee and based on the report of performance evaluation, the Board at its meeting held over Aprildecided to place the proposal for reappointment of Mr.
T he Board places on record immense contributions made by Mr. Minority Interest - - Equity holders 86, 79, 87, 91, Appropriations Dividend 7, 29, 7, 29, Corporate tax on dividend distribution 1, 6, 1, 6, EPS - Basic - Diluted Your Company has adopted an Ombuds process as a channel for receiving and redressing complaints from employees and Directors, as per the provisions of Section 9 and 10 of the Companies Act, and regulation 22 of the Listing Regulations.
Likewise, wiprk this policy, we have prohibited discrimination, retaliation or harassment of any kind against any employees who, based on the employee''s reasonable belief that such conduct or practice have occurred or are occurring, reports that information or participates in the said investigation. The buyback was made annaul all existing shareholders of the Company as on May 6,the record date for the buyback, on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India Buy Back of Securities Regulations, and the Companies Act, and rules made there under.
Annual Report of Wipro Limited - Assignment Point
Pursuant to the recommendation of Board Governance, Nomination and Compensation Committee and based on the report of performance evaluation, the Board at its meeting held on April 25, decided to place the proposal repodt re-appointment of Ms. Foreign Exchange Earnings and Outgoings. Pursuant to repot provisions of section of the Companies Act,an audit firm can act as auditors for a maximum tenure of two terms of 5 consecutive years. The Board will consider a proposal for another buyback of equity shares of the Company around July Abidali Z Neemuchwala will retire by rotation at the 71 st AGM and being eligible, has offered himself for re-appointment.
Wipro Balance Sheets, Financial Statements - The Economic Times
The Company has received separate notices under section from Members, along with the requisite deposit, signifying their intention to propose reappointment of Mr. During the year, your Company won several awards and accolades, out of which key recognitions are given below: Details of terms of reference of the Committees, Committee membership and attendance at meetings of the Committees are provided in the Corporate Governance report from page no.
The detailed financial statements and audit reports of each of the subsidiaries are available for inspection at the registered office of the Company during office hours between 11 am to 1 pm and upon written request from a shareholder, your Company will arrange to send the financial statements of subsidiary companies to the said shareholder. Today, the shifting sands in the market underscore the need to introspect, self-examine and embrace change.
Also, the Company extinguished 34,37,50, equity shares consequent to buyback in December Interim Dividend Pursuant to the approval of Board of Directors on January 18,your Company had distributed an interim dividend of Rs. Material Changes and Commitments Affecting the Financial Position of the Company There rdport been no material changes and commitments, affecting the financial position of the Company which occurred during between the end of the financial wiprk to which the financial statements relate and the date of this report.
The Company has made provision, as required under the applicable law or accounting eipro, for material foreseeable losses, if any, on long-term contracts including derivative contracts. William Arthur Owens f. Your Company has adopted policies and procedures for ensuring the orderly and efficient conduct of its business, including adherence to the Company''s policies, the safeguarding of wiro assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial disclosures.
Merger of Wholly Owned Subsidiaries. The statement also provides details of performance and financial position of each of the subsidiaries.