Reporting Context Corporate Overview Performance and Outlook Sustainability at Wipro

Standalone Financial Statements under Ind AS

Balance Sheet
(C in millions, except share and per share data, unless otherwise stated)

As at As at
Notes
March 31, 2024 March 31, 2023
ASSETS
Non-current assets
Property, plant and equipment 4 66,563 73,803
Right-of-Use assets 5 6,415 8,535
Capital work-in-progress 6 6,697 6,038
Goodwill 7 4,604 4,604
Other intangible assets 7 1,013 1,305
Financial assets
Investments 8 206,806 193,728
Derivative assets 20 - 3
Other financial assets 11 3,342 3,819
Deferred tax assets (net) 21 251 668
Non-current tax assets (net) 8,313 11,487
Other non-current assets 13 6,844 9,308
Total non-current assets 310,848 313,298
Current assets
Inventories 12 729 913
Financial assets
Investments 8 301,437 297,126
Derivative assets 20 1,105 1,596
Trade receivables 9 85,153 99,617
Unbilled receivables 31,331 33,115
Loans to subsidiaries - 12,326
Cash and cash equivalents 10 37,906 45,270
Other financial assets 11 7,790 6,049
Current tax assets (net) 4,875 2,096
Contract assets 12,941 16,366
Other current assets 13 22,371 25,304
Total current assets 505,638 539,778
TOTAL ASSETS 816,486 853,076
EQUITY AND LIABILITIES
EQUITY
Equity share capital 14 10,450 10,976
Other equity 567,369 616,647
TOTAL EQUITY 577,819 627,623
LIABILITIES
Non-current liabilities
Financial liabilities
Lease liabilities 5,15 5,651 7,758
Derivative liabilities 20 - 68
Provisions 18 1,161 549
Deferred tax liabilities (net) 21 4,488 2,531
Non-current tax liabilities (net) 34,191 19,740
Other non-current liabilities 19 8,722 6,379
Total non-current liabilities 54,213 37,025

168 Ambitions Realized.

Value Creation for Stakeholders Risk Management Statutory Reports and Financial Statements

Standalone Financial Statements under Ind AS

Balance Sheet
(C in millions, except share and per share data, unless otherwise stated)

As at As at
Notes
March 31, 2024 March 31, 2023
Current liabilities
Financial liabilities
Borrowings 15 41,750 51,807
Lease liabilities 5,15 3,594 4,029
Derivative liabilities 20 532 2,823
Trade payables
(a) Total outstanding dues of micro enterprises and small enterprises 16 1,560 1,145
(b) Total outstanding dues of creditors other than micro enterprises and
16 56,834 51,857
small enterprises
Other financial liabilities 17 22,403 21,820
Contract liabilities 14,265 19,032
Other current liabilities 19 10,220 8,776
Provisions 18 13,307 13,580
Current tax liabilities (net) 19,989 13,559
Total current liabilities 184,454 188,428
TOTAL LIABILITIES 238,667 225,453
TOTAL EQUITY AND LIABILITIES 816,486 853,076
The accompanying notes form an integral part of these standalone financial statements

As per our report of even date attached For and on behalf of the Board of Directors

for Deloitte Haskins & Sells LLP Rishad A. Premji Deepak M. Satwalekar Srinivas Pallia
Chartered Accountants Chairman Director Chief Executive Officer
Firm’s Registration No.: 117366W/W - 100018 (DIN: 02983899) (DIN: 00009627) and Managing Director
(DIN: 10574442)

Anand Subramanian Aparna C. Iyer M. Sanaulla Khan

Partner Chief Financial Officer Company Secretary
Membership No.: 110815

Bengaluru
May 22, 2024

Integrated Annual Report 2023-24 169

 Reporting Context Corporate Overview Performance and Outlook Sustainability at Wipro

Standalone Financial Statements under Ind AS

Statement of Profit and Loss
(C in millions, except share and per share data, unless otherwise stated)

Year ended Year ended

Notes
March 31, 2024 March 31, 2023
INCOME
Revenue from operations 22 667,924 677,534
Other income 23, 38 30,458 23,638
Total income 698,382 701,172
EXPENSES
Purchases of stock-in-trade 2,642 3,782
Changes in inventories of stock-in-trade 24 179 (35)
Employee benefits expense 25 382,895 372,016
Finance costs 26 8,197 6,289
Depreciation, amortisation and impairment expense 14,918 15,921
Sub-contracting and technical fees 113,898 120,407
Facility expenses 10,340 8,737
Software license expense for internal use 14,880 15,059
Travel 12,021 11,522
Communication 2,707 3,723
Legal and professional charges 5,612 7,456
Marketing and brand building 2,935 2,495
Other expenses 27, 38 2,983 11,111
Total expenses 574,207 578,483
Profit before tax 124,175 122,689
Tax expense
Current tax 21 31,485 27,405
Deferred tax 21 1,504 3,517
Total tax expense 32,989 30,922
Profit for the year 91,186 91,767
Other comprehensive income (OCI)
Items that will not be reclassified to profit or loss:
Re-measurements of the defined benefit plans, net 25 602 (90)
Net change in fair value of investment in equity instruments measured at fair
36 (10)
value through OCI
Income tax relating to items that will not be reclassified to profit or loss 21 (148) 19
Items that will be reclassified to profit or loss:
Net change in time value of option contracts designated as cash flow hedges 20 258 (235)
Net change in intrinsic value of option contracts designated as cash flow hedges 20 162 (273)
Net change in fair value of forward contracts designated as cash flow hedges 20 1,866 (3,198)
Net change in fair value of investment in debt instruments measured at fair
1,749 (3,411)
value through OCI
Income tax relating to items that will be reclassified to profit or loss 21 (715) 1,100
Total other comprehensive income/(loss) for the year, net of taxes 3,810 (6,098)
Total comprehensive income for the year 94,996 85,669

170 Ambitions Realized.

Value Creation for Stakeholders Risk Management Statutory Reports and Financial Statements

Standalone Financial Statements under Ind AS

Statement of Profit and Loss
(C in millions, except share and per share data, unless otherwise stated)

Year ended Year ended

Notes
March 31, 2024 March 31, 2023
Earnings per equity share 28
(Equity shares of par value ` 2 each)
Basic 17.24 16.75
Diluted 17.19 16.72
Weighted average number of equity shares used in computing earnings per
equity share
Basic 5,288,285,555 5,477,466,573
Diluted 5,305,712,314 5,488,991,175
The accompanying notes form an integral part of these standalone financial statements

As per our report of even date attached For and on behalf of the Board of Directors

for Deloitte Haskins & Sells LLP Rishad A. Premji Deepak M. Satwalekar Srinivas Pallia
Chartered Accountants Chairman Director Chief Executive Officer
Firm’s Registration No.: 117366W/W - 100018 (DIN: 02983899) (DIN: 00009627) and Managing Director
(DIN: 10574442)

Anand Subramanian Aparna C. Iyer M. Sanaulla Khan

Partner Chief Financial Officer Company Secretary
Membership No.: 110815

Bengaluru
May 22, 2024

Integrated Annual Report 2023-24 171

 (C in millions, except share and per share data, unless otherwise stated)

172
Statement of Changes in Equity
A. Equity share capital
Changes in equity share capital Changes in equity share capital
Balance as at April 1, 2023 Restated balance as at April 1, 2023 Balance as at March 31, 2024
due to prior period errors during the current year(1)

10,976 - 10,976 (526) 10,450

Changes in equity share capital Changes in equity share capital

Balance as at April 1, 2022 Restated balance as at April 1, 2022 Balance as at March 31, 2023
due to prior period errors during the previous year
Reporting Context

10,964 - 10,964 12 10,976

(1) ` (539) towards reduction in share capital on buyback of equity shares (Refer to Note 29) and ` 13 is towards proceeds from issue of equity shares on exercise of options.

B. Other equity
Reserves and Surplus Other components of equity
Investment Investment in
Standalone Financial Statements under Ind AS

Share Common Special

application Secu- Share Foreign Remeasure- in debt equity Total other
Capital re- control Economic Cash flow
money pend- rities Capital Retained options currency ments of the instruments instruments equity
demption transactions Zone re- hedging
ing allment premi- reserve earnings outstanding translation defined benefit measured measured
reserve capital investment reserve(3)
um account reserve plans at fair value at fair value
reserve reserve
through OCI through OCI
Balance as at April 1, 2023 ^ 3,301 1,139 1,135 558,588 2,473 5,632 46,803 (1,403) 1,882 (606) (119) (2,178) 616,647
Corporate Overview

Profit for the year - - - - 91,186 - - - - - - - - 91,186

Other comprehensive income - - - - - - - - 1,802 - 459 1,516 33 3,810
Total comprehensive income for
- - - - 91,186 - - - 1,802 - 459 1,516 33 94,996
the year
Issue of equity shares on exercise
- 3,370 - - - - (3,370) - - - - - - -
of options
Issue of shares by controlled trust
- - - - 1,462 - (1,462) - - - - - - -
on exercise of options (1)
Dividend (2) - - - - (5,224) - - - - - - - - (5,224)
Compensation cost related to
- - - - - - 5,584 - - - - - - 5,584
employee share-based payment
Transferred from Special Economic
- - - - 4,674 - - (4,674) - - - - - -
Zone re-investment reserve
Performance and Outlook

Buyback of equity shares, including

- (3,768) - 539 (141,015) - - - - - - - - (144,244)
tax thereon(2)
Transaction cost related to
- - - - (390) - - - - - - - - (390)
buyback(2)
Other transactions for the year - (398) - 539 (140,493) - 752 (4,674) - - - - - (144,274)
Balance as at March 31, 2024 ^ 2,903 1,139 1,674 509,281 2,473 6,384 42,129 399 1,882 (147) 1,397 (2,145) 567,369

^ Value is less than 1

(1) 3,943,096 shares have been transferred by the controlled trust to eligible employees on exercise of options during the year ended March 31, 2024.
(2) Refer to Note 29
(3) Refer to Note 20

Ambitions Realized.
(C in millions, except share and per share data, unless otherwise stated)
Sustainability at Wipro
 (C in millions, except share and per share data, unless otherwise stated)
Statement of Changes in Equity
Reserves and Surplus Other components of equity

Share Investment Investment

application Common Special
Share Foreign Remeas- in debt in equity
money Securities Capital re- control Economic Cash flow
Capital Retained options currency urement of instruments instruments Total other
pending premium demption transactions Zone hedging
reserve earnings outstand- translation the defined measured measured equity
allotment reserve capital reinvestment reserve(3)
ing account reserve benefit plans at fair value at fair value
reserve reserve
through OCI through OCI

Balance as at April 1, 2022 ^ 1,178 1,139 1,135 470,625 2,473 5,258 47,061 1,477 1,882 (534) 3,018 (2,169) 532,543
Value Creation for Stakeholders

Adjustment on adoption of amendments

to Ind AS 37
- - - - (47) - - - - - - - - (47)
Adjusted balance as at April 1, 2022 ^ 1,178 1,139 1,135 470,578 2,473 5,258 47,061 1,477 1,882 (534) 3,018 (2,169) 532,496

Integrated Annual Report 2023-24

Profit for the year - - - - 91,767 - - - - - - - - 91,767
Other comprehensive income/(loss) - - - - - - - - (2,880) - (72) (3,137) (9) (6,098)
Total comprehensive income/(loss)
- - - - 91,767 - - - (2,880) - (72) (3,137) (9) 85,669
Standalone Financial Statements under Ind AS

for the year

Issue of equity shares on exercise of
options
- 2,123 - - - - (2,123) - - - - - - -
Issue of shares by controlled trust on
exercise of options (1)
- - - - 1,472 - (1,472) - - - - - - -
Risk Management

Dividend (2) - - - - (5,487) - - - - - - - - (5,487)

Compensation cost related to
employee share-based payment
- - - - - - 3,969 - - - - - - 3,969
Transferred from Special Economic
Zone re-investment reserve
- - - - 258 - - (258) - - - - - -
Other transactions for the year - 2,123 - - (3,757) - 374 (258) - - - - - (1,518)
Balance as at March 31, 2023 ^ 3,301 1,139 1,135 558,588 2,473 5,632 46,803 (1,403) 1,882 (606) (119) (2,178) 616,647
^ Value is less than 1
(1) 4,793,893 shares have been transferred by the controlled trust to eligible employees on exercise of options during the year ended March 31, 2023.
(2) Refer to Note 29
(3) Refer to Note 20

The accompanying notes form an integral part of these standalone financial statements
As per our report of even date attached For and on behalf of the Board of Directors

for Deloitte Haskins & Sells LLP Rishad A. Premji Deepak M. Satwalekar Srinivas Pallia
Chartered Accountants Chairman Director Chief Executive Officer
Firm’s Registration No.: 117366W/W - 100018 (DIN: 02983899) (DIN: 00009627) and Managing Director
(DIN: 10574442)

Anand Subramanian Aparna C. Iyer M. Sanaulla Khan

Statutory Reports and Financial Statements

Partner Chief Financial Officer Company Secretary

Membership No.: 110815

Bengaluru
May 22, 2024

173
(C in millions, except share and per share data, unless otherwise stated)
 Reporting Context Corporate Overview Performance and Outlook Sustainability at Wipro

Standalone Financial Statements under Ind AS

Statement of Cash Flows
(C in millions, except share and per share data, unless otherwise stated)

For the year ended For the year ended

March 31, 2024 March 31, 2023

Cash flows from operating activities

Profit for the year 91,186 91,767
Adjustments to reconcile profit for the year to net cash generated from operating
activities
Gain on sale of property, plant and equipment, net (2,093) (96)
Depreciation, amortisation and impairment expense 14,918 15,921
Unrealised exchange (gain)/loss, net exchange (gain)/loss on borrowings and loans to
599 (2,229)
subsidiaries
Share-based compensation expense 4,738 3,199
Income tax expense 32,989 30,922
Finance and other income, net of finance costs (19,799) (13,602)
Diminution in the value of non-current investments - 5,064
Changes in operating assets and liabilities, net of effects from acquisitions
Trade receivables 14,464 (6,663)
Unbilled receivables and contract assets 5,209 (375)
Inventories 184 (38)
Other assets 6,914 7,156
Trade payables, other liabilities and provisions 7,826 4,756
Contract liabilities (4,767) (2,063)
Cash generated from operating activities before taxes 152,368 133,719
Income taxes paid, net (10,209) (21,803)
Net cash generated from operating activities 142,159 111,916
Cash flows from investing activities
Payment for purchase of property, plant and equipment (7,508) (12,179)
Proceeds from disposal of property, plant and equipment 3,780 299
Payment for purchase of investments (943,324) (779,568)
Proceeds from sale of investments 944,799 725,225
Proceeds from restricted interim dividend account - 27,410
Investment in subsidiaries (12,753) (33,193)
Proceeds from repayment of loan by subsidiaries 12,417 8,443
Proceeds from security deposit for property, plant and equipment 300 -
Interest received 19,441 14,130
Dividend received 5,218 1,817
Net cash generated from/(used in) investing activities 22,370 (47,616)

174 Ambitions Realized.

Value Creation for Stakeholders Risk Management Statutory Reports and Financial Statements

Standalone Financial Statements under Ind AS

Statement of Cash Flows
(C in millions, except share and per share data, unless otherwise stated)

For the year ended For the year ended

March 31, 2024 March 31, 2023

Cash flows from financing activities

Proceeds from issuance of equity shares and shares pending allotment 13 12
Repayment of borrowings (130,557) (139,734)
Proceeds from borrowings 120,500 114,750
Payment of lease liabilities (4,806) (4,838)
Payment for contingent consideration - (232)
Interest and finance costs paid (6,340) (5,097)
Payment of dividend (5,224) (32,897)
Payment for buyback of equity shares, including tax and transaction cost (145,173) -
Net cash used in financing activities (171,587) (68,036)
Net decrease in cash and cash equivalents during the year (7,058) (3,736)
Effect of exchange rate changes on cash and cash equivalents (306) 25
Cash and cash equivalents at the beginning of the year 45,270 48,981
Cash and cash equivalents at the end of the year (Refer to Note 10) 37,906 45,270
Refer to Note 15 for supplementary information on statement of cash flows.
The accompanying notes form an integral part of these standalone financial statements

As per our report of even date attached For and on behalf of the Board of Directors

for Deloitte Haskins & Sells LLP Rishad A. Premji Deepak M. Satwalekar Srinivas Pallia
Chartered Accountants Chairman Director Chief Executive Officer
Firm’s Registration No.: 117366W/W - 100018 (DIN: 02983899) (DIN: 00009627) and Managing Director
(DIN: 10574442)

Anand Subramanian Aparna C. Iyer M. Sanaulla Khan

Partner Chief Financial Officer Company Secretary
Membership No.: 110815

Bengaluru
May 22, 2024

Integrated Annual Report 2023-24 175