"Wipro is India's third largest software services exporter and also has interests in the hardware and consumer care and lighting businesses. The IT Services segment provides research and development services for hardware and software design to technology and telecommunication companies and software application development services to corporate enterprises. The BPO services segment provides services to global corporations."
"The India and Asia Pacific IT Services and Products segment focuses on addressing the IT and electronic commerce requirements of companies in India, Middle-East and Asia-Pacific regions. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company globally. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services for global corporations. Wipro’s ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India on the Stock Exchange, Mumbai and the National Stock Exchange, among others. Wipro Ltd provides comprehensive information technology (IT) solutions and services, including systems integration, information systems outsourcing package implementation, software application development and maintenance, and research and development services to corporations globally through its IT services, solutions and products division."
"Wipro Ltd has posted a consolidated result for the quarter ended March 31, 2012. During the quarter, the company has posted a net profit of Rs 14809.00 million for the quarter ended March 31, 2012 as compared from Rs 13754.00 million for the quarter ended March 31, 2011 rise of 7.67%. Net sales are surged by 18.48% to Rs. 98363.00 million from Rs.83024.00 million same quarters last year. Company posted earnings of Rs. 6.02 a share during the quarter, registering 7.47% increment over prior year period. During the quarter, Net Sales rose by 18.48% to Rs. 98363.00 million from Rs.83024.00 in the same the quarter last year and the Total Profit for quarter ended March 2012 was Rs.14809.00 million grew by 7.67% from Rs.13754.00 million compared to same quarter last year."
"At the current market price of Rs.404, the stock is trading at 15.49 x FY13E and 13.59 x FY14E respectively. Earning per share (EPS) of the company for the earnings for FY12E and FY13E is seen at Rs. 26.08 and Rs. 29.74 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 16% and 12% over 2011 to 2014E respectively. On the basis of EV/EBITDA, the stock trades at 10.45 x for FY13E and 9.24 x for FY14E. Price to Book Value of the stock is expected to be at 2.84 x and 2.35 x respectively for FY13E and FY14E. We expect that the company will keep its growth story in the coming quarters also. We recommend ‘BUY’ in this particular scrip with a target price of Rs 456 for medium to long term investment," says Firstcall Research report.
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