Wipro Limited

Please note that this conference is being recorded. I now hand the conference over to Mr. Deepak Bohra, Corporate Treasurer and Head of Investor Relations. Thank you and over to you, sir.

Thank you, Yashashree. Warm welcome to our quarter four financial year 25 earnings call. We will begin the call with the business highlights and overview by Srinivas Balya, our Chief Executive Officer and Managing Director, followed by updates on financial overview by our CFO, Apartha Iyer. We also have our CHR of Saurav Govil on this call. Afterwards, the operator will open the bridge for Q&A with our management team. Before the series starts, let me draw your kind attention to the fact that during the call, we may make certain forward-looking statements within the meaning of Private Securities Litigation Reform Act 1995. These statements are based on management 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 factor are explained in our detailed filing 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. The conference call will be archived and the transcript will be available on our website. With that, I would like to turn over the call to Srini.

Thanks, Deepak. Hello, everyone. Thank you for joining us today. It's hard to believe that it's already been a year since I took over as CEO. When I look back at these 12 months, I can see clear progress across many areas. We won two mega deals this year. It's a strong sign that our large deal engine is working and continue to expand. Our clients have responded well to a consulting lead AI-powered industry and cross-industry solutions. This is reflected in the strong growth in top accounts and large deal bookings in FI25. We have continued to invest in our people, killing them for the new AI wave. Our execution rigor with speed has been acknowledged by clients. And that's reflected in the clear improvement in our client satisfaction scores. And we have done all of this while strengthening our margins. It's a meaningful achievement in the context of such ongoing change. The global industry environment remained uncertain for most of the year. And the recent tariff announcements have only added to that. I've been speaking to clients across sectors to understand how things are playing out on the ground. Even though the underlying demand for tech reinvention remains strong, clients are approaching it more cautiously. In fact, they are focused on cost, speed, and AI-led efficiency. And that's exactly where we are leading it. We see this as an opportunity to move with purpose, make smart bets, and stay committed to our five strategic priorities. Driving consistent, profitable growth remains a clear priority for us, and we are focused on making that happen. With that, let's look at our quarter four and FI 2024-25 performance. All the growth numbers I share will be in constant currency. Our IT services revenue for quarter four was $2.6 billion, reflecting a sequential decline of 0.8% and 1.2% on a year-on-year basis. The order booking for quarter four was at $4.0 billion, which is a growth of 13.4% sequentially and 10.5% on year-on-year basis. Our operating margins came in at 17.5%, which is flat sequentially and 110 basis point expansion on year-on-year basis. For the full year, IT services revenues were $10.51 billion reflecting year-on-year degrowth of 2.3%. Our operating margin was at 17.1%, an expansion of almost 1% as compared to FY24. Now towards strategic market unit performance. America's one grew 0.2% sequentially and 6% on a year-on-year basis. America's two de-grew 1% sequentially and 1.8% on a year-on-year basis. Europe de-grew 2.5% sequentially and 6.9% on a year-on-year basis. Apnea grew 1% sequentially and de-grew 4.9% on a year-on-year basis. Moving on to our industry sector performance, BFSI de-grew 0.5% sequentially and grew 0.8% year on year. Healthcare de-grew 3.1% sequentially and grew 0.1% year on year. Consumer de-grew 1.3% sequentially and was flat year on year. Technology and communication de-grew 0.9% sequentially and 1.1% year-on-year. Energy manufacturing and resources grew 1.1% sequentially and de-grew 7% year-on-year. Capco continues to perform well, growing 6.5% sequentially and 11.5% on a year-on-year basis. Let me now provide an update on our five strategic priorities. As I mentioned earlier, we are continuing to see strong momentum in large deals. In quarter four, we closed 17 large deals with a total value of $1.8 billion across markets and sectors. For the full year, we closed 63 large deals for a total value of $5.4 billion, which is a year-on-year growth of 17.5%. Now let me highlight two recent wins. A global technology leader has chosen us for a major five-year transformation program. We will deliver AI-powered end-to-end IT services, completely reshaping the employee experience for 200,000 users across 200 countries. Our solution involves proactive support intelligent self-service, and personalized digital interaction. My second example is our recent partnership with a leading global food distributor. We are taking over their entire IT infrastructure and corporate application, which includes HR, finance, and legal systems. We are leveraging AI solutions and we will drive automation and simplify user interactions. For our client, this will result in higher efficiency, lower costs, and better user experience. As we all know, AI has been part of deal conversations for a while, but this year, It becomes central to almost every opportunity, big or small, helping drive productivity and efficiency. This reflects a broader shift we are seeing across the board. Let me now move on to large accounts. We continue to focus on our large accounts in our core markets and priority sectors. In quarter four, our top five and top 10 accounts grew 0.3% and 1.1% respectively on a sequential basis. Let me also share an example that shows our momentum in strategic accounts. In quarter four, a leading Indian private bank expanded our strategic partnership as part of a business-focused digital transformation. We will provide the bank AI-powered solutions to strengthen compliance management and addressing critical need for regulatory compliance in addition to enhancing the overall experience for the bank. Now, this will also help the bank boost operational efficiency and realize its growth ambition across various functions. We continue to create impact for clients through our consulting-led AI-powered industry and cross-industry solutions. This was our third strategic priority we had called out. In this context, let me talk about a recent win in the aviation sector. A well-known Pacific Airlines shows us to modernize its crew management and operations systems in quarter four. In fact, we were selected for our proven ability to future-proof client IT platform with AI. We will deploy our own TOPS platform to manage end-to-end crew operations, providing a unified, scalable solution that enhances experience and drives sustained operational efficiencies. Alongside all of this, we have put even more focus on client-centricity and starting to show results. Our latest third-party annual customer satisfaction survey clearly shows improvement in overall satisfaction scores and NPS. In fact, I would like to thank our teams who have made this possible. As you are aware, we have also realigned our global business lines effective April 1st to better meet our customers' needs. This change will help us deliver stronger business outcomes for our clients. Finally, and just as important, supporting and growing our global talent has been a top priority all year. You might remember that last quarter I spoke about our focus on leadership development and how we are building future-ready leaders through our Wipro Leadership Institute. In fact, we have moved our top performers into key client-facing roles to ensure continuity and stability. And we've also launched a sponsorship program to help them succeed. Now a note on guidance before I wrap up. Given the uncertainty in the environment, we expect clients to take more measured approach going forward, especially on large transformation programs and discretionary spending. With this in mind, and based on our current visibility, we are guiding for a sequential growth of minus 3.5% to minus 1.5% in constant currency terms. Let me now turn it over to Aparna for a detailed overview of our financials. Thank you. Aparna, over to you.