External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

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Equity Bottom-Up

<ul><li>Wipro (WPRO) reported 2QFY25 IT Services revenue of USD2.6b (0.6% QoQ) in constant currency (CC), 60bp above our estimate.</li><li>It posted an order intake of USD3.6b (+9.6% QoQ), with a large deal TCV of USD1.5b (+30% QoQ).</li><li>EBIT margin of IT Services was 16.8% (est.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro (WPRO) reported 2QFY25 IT Services revenue of USD2.6b (0.6% QoQ) in constant currency (CC), 60bp above our estimate.It posted an order intake of USD3.6b (+9.6% QoQ), with a large deal TCV of USD1.5b (+30% QoQ).EBIT margin of IT Services was 16.8% (est.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro - Healthy Quarter, Furlough Softness Ahead

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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<ul><li>Wipro’s (WPRO) 0.6% QoQ CC revenue was ahead of our and consensus estimates.</li><li>BFSI-led growth was in line with the results announced so far in the sector, marking third consecutive quarter of BFSI vertical growth for WPRO.</li><li>Q2FY25 saw good execution with 3/6 verticals showing positive QoQ growth, net headcount addition, 14.5% YoY large deal TCV uptick and 35bps QoQ margin expansion.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro’s (WPRO) 0.6% QoQ CC revenue was ahead of our and consensus estimates.BFSI-led growth was in line with the results announced so far in the sector, marking third consecutive quarter of BFSI vertical growth for WPRO.Q2FY25 saw good execution with 3/6 verticals showing positive QoQ growth, net headcount addition, 14.5% YoY large deal TCV uptick and 35bps QoQ margin expansion.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro - Continued Problems in Manufacturing, Energy & Utilities

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Ongoing uncertainties are leading to delays in decision-making by clients, particularly in the automation segment. However, the management has observed a pickup in the consulting business.</li><li>On a positive note, the company’s TCV remained strong at $3.3 Bn in Q2FY25.</li><li>The company currently lacks clear visibility on revenue growth, raising concerns about its growth momentum compared to its peers.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ongoing uncertainties are leading to delays in decision-making by clients, particularly in the automation segment. However, the management has observed a pickup in the consulting business.On a positive note, the company’s TCV remained strong at $3.3 Bn in Q2FY25.The company currently lacks clear visibility on revenue growth, raising concerns about its growth momentum compared to its peers.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro Ltd. - Miss on Growth Estimates; Outlook Weak

<ul><li>In Q1FY25, Wipro’s reported revenue stood below our expectations at Rs 21,964 Cr, down 1.2% QoQ and 4.9% QoQ (in CC terms).</li><li>The company reported operating profits of Rs 3,037 Cr, improved 2% on a QoQ basis.</li><li>However, its operating margins expanded in line with our expectations and stood at 16.4%, largely led by cost optimization. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q1FY25, Wipro’s reported revenue stood below our expectations at Rs 21,964 Cr, down 1.2% QoQ and 4.9% QoQ (in CC terms).The company reported operating profits of Rs 3,037 Cr, improved 2% on a QoQ basis.However, its operating margins expanded in line with our expectations and stood at 16.4%, largely led by cost optimization. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro Ltd - Miss on Growth Estimates; Outlook Weak

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Prabhudas Lilladher's research report onWipro Wipro reported revenue (IT Service) of USD2.7b, down 0.3% QoQ in CC and flat QoQ in reported terms, in line with consensus.</li><li>FY24 revenue growth stood at -4.4% CC YoY, at the lower band of the range to its closure peers.</li><li>Although Q4 growth was aided by seasonal strength in Capco (up 6.6% QoQ), which led the growth for its key vertical BFSI (up 2.1% QoQ), otherwise the weakness was board-based across its BUs.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prabhudas Lilladher's research report onWipro Wipro reported revenue (IT Service) of USD2.7b, down 0.3% QoQ in CC and flat QoQ in reported terms, in line with consensus.FY24 revenue growth stood at -4.4% CC YoY, at the lower band of the range to its closure peers.Although Q4 growth was aided by seasonal strength in Capco (up 6.6% QoQ), which led the growth for its key vertical BFSI (up 2.1% QoQ), otherwise the weakness was board-based across its BUs.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro - Stable Performance, Need More Consistency

India

Wipro Limited specializes in IT and computer related technologies. The Group's services encompass a number of areas, including software architecture, business intelligence systems, e-commerce, data warehousing, Internet access devices, network management, system administration, messaging systems, IT consulting and design. Wipro also has a presence in niche markets of consumer products.

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Wipro Ltd (WPRO IN)

Wipro - Healthy Quarter, Furlough Softness Ahead

Wipro (WPRO) reported 2QFY25 IT Services revenue of USD2.6b (0.6% QoQ) in constant currency (CC), 60bp above our estimate.

Motilal Oswal

Wipro - Continued Problems in Manufacturing, Energy & Utilities

BFSI-led growth was in line with the results announced so far in the sector, marking third consecutive quarter of BFSI vertical growth for WPRO.

ICICI Securities Limited

Wipro Ltd. - Miss on Growth Estimates; Outlook Weak

Ongoing uncertainties are leading to delays in decision-making by clients, particularly in the automation segment. However, the management has...

Axis Direct

Wipro Ltd - Miss on Growth Estimates; Outlook Weak

In Q1FY25, Wipro’s reported revenue stood below our expectations at Rs 21,964 Cr, down 1.2% QoQ and 4.9% QoQ (in CC terms).

Axis Direct

Wipro - Stable Performance, Need More Consistency

Prabhudas Lilladher's research report onWipro Wipro reported revenue (IT Service) of USD2.7b, down 0.3% QoQ in CC and flat QoQ in reported terms,...

Prabhudas Lilladhar

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