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Wipro Ltd's (WIT) CEO Abidali Neemuchwala on Q4 2016 Results - Earnings Call Transcript

Q4 2016 Earnings Call

April 20, 2016 9:45 AM ET


Aravind – Corporate Treasurer

Abidali Neemuchwala – Chief Executive Officer & Member of the Board

Jatin Dalal – Chief Financial Officer & Senior Vice President

Saurabh Govil – President, Chief Human Resources Officer


Anantha Narayan – Credit Suisse

Moshe Katri – Sterne Agee

Diviya Nagarajan – UBS Securities

Ashish Chopra – Motilal Oswal Securities Ltd.

Sandeep Muthangi – IIFL Capital

Viju George – JPMorgan

Ankur Rudra – CLSA

Ravi Menon – Elara Securities

Sandeep Shah – CIMB Securities


Ladies and gentlemen, good day and welcome to the Wipro Limited Earning Conference Call. As a reminder, all participants’ lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes. [Operator Instructions] Please note that this conference is being recorded.

I would now like to hand the conference over to Mr. Aravind Viswanathan. Thank you and over to you, sir.


Thank you, Karuna. A warm welcome to our Q4 FY 2016 earnings call. We will begin the call with business highlights and overview by Abid, the Chief Executive Officer and Member of the Board, followed by the financial overview by our CFO, Jatin Dalal. Afterwards, the operator will open the bridge for Q&A with our management team.

Before Abid starts, let me draw your attention to the fact that during this call, we may make certain forward-looking statements within the meaning of Private Securities Litigation Reform Act 1995. These statements are based on management's current expectations and are associated with uncertainties and risks, which may cause the actual results to differ materially from those expected. The uncertainties and risk factors are being explained in our detailed filings with the SEC. Wipro does not undertake any obligation to update the forward-looking statements to reflect events and circumstances after the date of filing thereof. The conference call will be archived and the transcript will be available on our website.

Ladies and gentlemen, let me now hand it over to Mr. Abid.

Abidali Neemuchwala

Thank you, Aravind. Good morning and good evening. Today is the first opportunity for me to interact with all of you since I've taken over as the Chief Executive Officer of Wipro, and it's a special moment for me. While I will speak about the performance of our full quarter and the full fiscal year, I thought I will take this opportunity to begin by speaking about our ambition, our strategy and how we are going to execute this strategy.

Since I got announced within two days, I was able to define and announce my structure and I had already preselected my leadership team which I announced on 6th of January, effective February 1. Over the past 80 days after I have taken over as CEO, I've had the opportunity to go around the globe and meet about 70 of our top 100 clients. And both with my leadership team and with the customers, I've had the opportunity to validate the strategy that we have been working on and this gives me a high level of confidence on the relevance of our overall strategy.

Our ambition is to double our revenues to $15 billion by fiscal 2020 with a 23% operating margin. As you will clearly realize, this is an ambitious target and the entire team is very motivated and committed to achieve this. The core leadership team has collectively laid out the ambition. And over the past about 100 days after we talked about the ambition, the team as well as individual units have worked on the corporate and the individual unit strategies aligned to this overall ambition.

We have also broken down key themes which we need to drive to be able to meet our ambition. Each of these themes have detailed measurable performance markers, both input markers and output markets, and I will update you on our progress on these themes on a periodic basis.