Projected Income Statement: Wipro Limited

Forecast Balance Sheet: Wipro Limited

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Net Debt 1 -193,795 -251,019 -266,658 -371,631 -375,361 -286,378 -323,876 -373,859
Change - -29.53% -6.23% -39.37% -1% 23.71% -13.09% -15.43%
Announcement Date 4/29/22 4/27/23 4/19/24 4/16/25 4/16/26 - - -
1INR in Million
Estimates

Cash Flow Forecast: Wipro Limited

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
CAPEX 1 20,153 14,834 10,510 14,737 15,603 34,778 26,579 25,296
Change - -26.39% -29.15% 40.22% 5.88% 122.9% -23.58% -4.83%
Free Cash Flow (FCF) 1 90,644 115,767 165,706 154,689 133,713 137,181 145,884 150,352
Change - 27.72% 43.14% -6.65% -13.56% 2.59% 6.34% 3.06%
Announcement Date 4/29/22 4/27/23 4/19/24 4/16/25 4/16/26 - - -
1INR in Million
Estimates

Forecast Financial Ratios: Wipro Limited

Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029

Profitability

        
EBITDA Margin (%) 20.8% 18.62% 18.92% 20.3% 19.29% 19.47% 19.78% 19.71%
EBIT Margin (%) 17.19% 14.93% 15.12% 16.98% 16.43% 16.33% 16.63% 16.62%
EBT Margin (%) 19.13% 16.32% 16.4% 19.64% 18.72% 17.97% 18.3% 18.52%
Net margin (%) 15.45% 12.54% 12.31% 14.74% 14.25% 13.65% 13.81% 13.98%
FCF margin (%) 11.46% 12.79% 18.46% 17.36% 14.44% 13.89% 14.35% 14.39%
FCF / Net Income (%) 74.18% 102% 150.03% 117.76% 101.32% 101.75% 103.9% 102.98%

Profitability

        
ROA 12.79% 10.07% 9.49% 10.81% 9.79% 10% 10.33% 10.55%
ROE 20.18% 15.77% 14.43% 16.74% 15.49% 15.68% 16.49% 16.37%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - - - - - - - -

Capital Intensity

        
CAPEX / Current Assets (%) 2.55% 1.64% 1.17% 1.65% 1.68% 3.52% 2.61% 2.42%
CAPEX / EBITDA (%) 12.25% 8.8% 6.19% 8.15% 8.74% 18.09% 13.22% 12.29%
CAPEX / FCF (%) 22.23% 12.81% 6.34% 9.53% 11.67% 25.35% 18.22% 16.82%

Items per share

        
Cash flow per share 1 10.1 11.9 16.61 16.15 14.21 16.98 16.87 17.77
Change - 17.73% 39.59% -2.75% -12% 19.51% -0.64% 5.34%
Dividend per Share 1 3 0.5 0.5 6 11 9.045 11.15 11.2
Change - -83.33% 0% 1,100% 83.33% -17.77% 23.29% 0.4%
Book Value Per Share 1 60.03 71.3 71 78.65 83.92 82.02 85.21 91.19
Change - 18.78% -0.42% 10.78% 6.7% -2.26% 3.89% 7.01%
EPS 1 11.14 10.34 10.41 12.52 12.56 13.34 13.93 14.51
Change - -7.22% 0.68% 20.27% 0.32% 6.18% 4.49% 4.15%
Nbr of stocks (in thousands) 10,932,636 10,954,798 10,436,972 10,460,231 10,476,409 9,892,233 9,892,233 9,892,233
Announcement Date 4/29/22 4/27/23 4/19/24 4/16/25 4/16/26 - - -
1INR
Estimates
2027 *2028 *
P/E 13.3x 12.7x
PBR 2.16x 2.08x
EV / Sales 1.48x 1.41x
Yield 5.11% 6.3%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
40
Last Close Price
177.15INR
Average target price
177.50INR
Spread / Average Target
+0.20%

Quarterly revenue - Rate of surprise