WIPRO

Announces Record ₹15,000 Cr Buyback

, India’s fourth-largest IT services firm, announced its largest-ever share buyback of ₹15,000 crore, even as it capped a third straight year of revenue decline and flagged a weak start to FY27. The buyback, at a 19% premium to market price, underscores management’s intent to return excess cash while retaining flexibility for M&A and strategic deals. However, growth concerns continue to weigh on sentiment, with analysts cautious about near-term prospects. Financial Performance FY26 revenue: $10.48 billion (–0.32% YoY), better than Bloomberg consensus of $9.94 billion. FY26 net profit: $1.4 billion (–8.6% YoY). Q4FY26 revenue: $2.65 billion (+0.6% QoQ). Q4FY26 net profit: $375 million (+7.1% QoQ). Consumer vertical (20% of revenue) drove most of the decline, losing $80 million. FY27 Guidance April–June revenue expected at $2.6–2.65 billion, implying up to 2% sequential decline or flat growth. Weakness attributed to delays in ramping up a large client and slower growth from a banking client. No full-year guidance provided. Strategic Context CFO Aparna Iyer emphasized buyback as returning excess cash, while ensuring balance sheet strength for acquisitions. Analysts note strong deal pipeline but weak near-term execution. Shares fell 4.6% on NYSE post-results, reflecting investor caution. Sector & Competitive Landscape Broader IT sector faces macro uncertainty, vendor consolidation, and AI-led transformation. Larger players with consulting depth and reusable platforms may benefit more than scaled delivery firms. TCS also reported a 0.5% revenue decline in FY26, marking the first time two of the top four IT firms posted annual declines.