April 15, 2026
3 mins read
Wipro is set to report Q4 FY26 results with modest revenue growth driven by acquisitions, while margins remain under pressure. Organic performance stays weak despite strong deal wins. Investors will closely track buyback plans and Q1 FY27 guidance, which is expected to signal a muted start amid demand uncertainty and slower deal ramp-ups. The company is witnessing a shift toward AI-led transformation deals.
Wipro Ltd is set to announce its Q4 FY26 results on April 16, with anticipation of a mixed bag, with revenue expected to grow pressure on margins are also expected, while the focus will remain on capital management.
Based on projections, Wipro’s dollar revenue is forecasted and likely to increase 1.1% QoQ to $2,666 million from $2,635.4 million. Revenues in Indian rupees are expected to expand 4.1% to ₹24,343 crore from ₹23,378.1 crore.
However, constant currency growth is still anticipated to be relatively weak at 0.4-0.5%. Growth will be mainly due to acquisitions, with the Harman DTS transaction accounting for 1.5-2% growth. Organic revenues are likely to drop approximately 1%, indicating that there is inherent weakness in core demand.
Source: CNBC
Quarterly EBIT is estimated at ₹4,158 crore, slightly up from ₹4,115 crore seen in Q3. EBIT margins, however, are likely to narrow by 50 basis points from 17.6% to 17.1%.
Margins on recurring IT services EBIT are likely to fall. This will be due to rising wage costs from March 1, 2026, costs from acquisitions, and those from ramping up on big-ticket deals.
Although a weaker currency is likely to provide a boost of 50–60 basis points, this is expected to be negated by higher operating costs and the impact of consolidating lower-margin acquisitions such as Harman DTS.
Source: CNBC
The profit after tax is estimated to be between ₹3,569–3,791 crore, which is higher by 17.6-21.6% on a quarter-on-quarter basis and by 2.7-6.2% from last year in the same quarter. Though there is a sequential rise, margins are likely to remain tight for this company.
Source: CNBC
Wipro continues to exhibit strong performance in large contracts. Wipro received a contract valued at $1 billion with an eight-year tenure from the Olam Group.
In this deal, Wipro will acquire a 100% stake in Mindsprint Pte. Ltd at $375 million. The total value of the deal should remain steady with previous quarters, although the scale-up of megadeals would be slow.
The BFSI and healthcare verticals are likely to be stable, but the consumer and EMR verticals will likely continue to face challenges because of tariff uncertainty and prolonged customer decision-making processes.
While there have been strong deal closures, longer ramp-up times, and conservative customer spending are affecting the company’s short-term visibility.
Wipro Ltd is positioning itself for an “AI-first world,” making AI a board-level priority for clients and a core driver of its deal pipeline. The company is witnessing a shift toward AI-led transformation deals, supported by its Wipro Intelligence Framework spanning industry platforms, delivery platforms like WINGS and WeGA, and a global innovation network. The Harman DTS acquisition further strengthens AI capabilities, though it may dilute margins. AI is also embedded in large deal executions, with Q4 IT services revenue growth guided at 0–2% QoQ in constant currency.
An important item on the agenda for the investors would be the deliberations that the board will have about the proposed stock repurchase, scheduled for April 16. The amount for this repurchase is projected to fall within the range of ₹16,000-18,000 crores.
Year | Buyback Size (₹ crore) | Buyback Price (₹) | Record Date / Completion | Promoter Holding Change |
2016 | 2,500 | 625 | May 2016 (Completion) | 73.39% → 74.01% |
2017 | 11,000 | 320 | Sep 15, 2017 | 74.32% → 73.23% |
2019 | 10,500 | 325 | Jun 21, 2019 | 74.05% → 73.85% |
2020 | 9,500 | 400 | Dec 11, 2020 | 73.85% → 73.02% |
2023 | 12,000 | 445 | Jun 16, 2023 | 72.92% → 72.16% |
Source: Finology
However, the most significant guidance is expected from Wipro for its Q1 FY27. In general, guidance is expected to suggest a weak beginning for FY27, with IT services revenues expected to be in the range of -1.5% to +0.5%.
Wipro is displaying better momentum in closing large deals and executing strategies under the leadership of its CEO, Srini Palia. The turnaround strategy adopted by Wipro includes speeding up large deals, improving client relationship management, creating consulting capability in AI solutions, readying people for AI, and making itself simpler.
Despite all this, the problem of sustained revenue and market share growth seems difficult to achieve.
The valuation of Wipro continues to be compelling based on its lower trailing P/E of 16 versus an industry average of 22.6. Other companies in its industry include Infosys, which has a PE multiple of 17.94, and TCS, which operates at PE multiple of 17.01.
Even still, investors continue to maintain a cautious outlook on the company, which currently trades at ₹203.06 after declining by 0.89% in Monday's trade.
Wipro Ltd is expected to deliver a mixed Q4 FY26 performance, where strong deal wins and acquisition-led growth provide support, but execution challenges and weak underlying demand continue to weigh on overall performance. While the company is building a solid pipeline, translating these wins into consistent revenue growth remains a key hurdle.
Looking ahead, the Q1 FY27 guidance and the outcome of the proposed share buyback will be crucial triggers. These factors will shape investor sentiment and determine the near-term direction of Wipro’s stock, as markets seek clearer signs of sustainable growth and margin stability.
SEBI Registered Research Analyst (INH000006396).
Founded in 1986, Dalal Street Investment Journal (DSIJ) brings decades of experience in India’s equity markets. DSIJ's research combines fundamental analysis with price action, guided by disciplined risk management and capital preservation. They follow a structured, data-driven approach designed to help investors and traders make informed decisions beyond short-term market noise.
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