Wipro Limited
Wipro is one of the pioneer species in India's IT ecosystem succession.
Under CEO Srini Pallia since April 2024, Wipro embodies regeneration after prolonged stress. The company spent five years trailing tier-1 peers, hemorrhaging market share through leadership churn and acquisition integration failures. Revenue declined from ₹907.4 billion (2023) to ₹887.9 billion (2024), while Infosys and HCL pulled ahead.
Then autophagy—cellular self-digestion for survival. Pallia invested $1 billion in AI capabilities, shed underperforming units, and rebuilt around a consulting-led delivery model. IT services operating margin expanded 1.5% year-over-year to 17.5% by Q3 FY25. Large deal bookings hit $961 million, up 6% YoY, with two mega-deals closing in FY25. The organism is consuming its own damaged components to fuel regeneration.
Like trees that resprout from base after fire, Wipro shows response diversity. Client satisfaction scores improved. Total contract value reached $4.97 billion in recent quarters, earning domestic brokerages' upgrades from "Sell" to "Accumulate." Goldman Sachs remains skeptical, citing slower revenue recovery than peers. But the biology is clear: organisms that survive near-death stress often emerge with phenotypic plasticity their always-healthy competitors lack. Wipro's five-year struggle may prove adaptive radiation in disguise.
Key Facts
Wipro Limited Appears in 3 Chapters
TCS was part of the pioneer cohort establishing India's IT services industry in the 1990s, proving India could deliver enterprise-scale software competitively.
TCS as ecosystem pioneer →Founded 1968, TCS represents Tata Group's flowering into services and technology economy beyond traditional industrial businesses.
TCS and Tata's flowering strategy →TCS's sparse network topology within Tata Group enabled insulation during Tata Motors' crisis - growing $6B→$13B while sister companies struggled.
How TCS's network topology creates resilience →