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Directors Report of Wipro Ltd.

Mar 31, 2015

1. Dear Shareholders,

On behalf of the Board of Directors, I am happy to present the 69th Report of the Board of Directors of your Company along with the Balance Sheet, Profit and Loss Account and Cash Flow Statement for the year ended March 31,2015.

2. Financial Performance

Key highlights of consolidated financial performance for Wipro and its group companies and standalone financial results forWipro Limited for the financial year 2014-15 are tabulated below:

(Rs.in Millions)

Standalone Consolidation

2014-15 2013-14 2014-15 2013-14

Sales and Other Income 437,088 403,684 494,007 453,457

Profit before Tax 105,570 96,082 112,241 101,143

Provision for tax 23,639 22,208 25,101 21,234

Minority interest - - -531 -438

Net profit for the year * 81,931 73,874 86,609 79,471 Appropriations

Interim Dividend 12,353 7,404 12,276 7,347 Proposed Dividend on equity shares 17,283 12,332 17,179 12,248

Corporate tax on distributed dividend 5,924 3,353 5,924 3,353 Transfer to General

Reserve 8,193 7,387 8,193 7,387 EPS

Basic 33.38 30.09 35.28 32.37

Diluted 33.28 30.01 35.18 32.29

*profit for the standalone results is after considering a gain of Rs. 390 Million (2014 :loss ofRs. 2,607 million) relating to changes in fair value of forward contracts designated as hedges of net investment in non-integral foreign operations, translation of foreign currency borrowings and changes in fair value of related cross currency swaps together designated as hedges of net investment in non-integral foreign operations. In the Consolidated Accounts, these are considered as hedges of net investment in non-integral foreign operations and are recognized directly in shareholders''fund.

3. Management''s Discussion and Analysis Report

The Management''s Discussion and Analysis Report on Company''s performance - industry trends and other material changes with respect to the Company and its subsidiaries, wherever applicable, are presented from pages 22 to 40 of this Annual Report.

4. State of Affairs of the Company

The State of Affairs of the Company is presented as part of Management Discussion and Analysis Reportforming part of this Report at page no. 22.

5. Outlook

According to the National Association of Software and Service Companies (NASSCOM) Strategic Review Report 2015, Revenues for fiscal year 2015 for the IT-BPM industry based in India is estimated to be US$146 billion, which would represent growth of approximately 13% over fiscal year 2014. IT Export Revenues from India, including hardware, are expected to have grown at a year-on-year rate of 12% in fiscial year 2015, driven by greater demands for social, mobile, analytics and cloud based solutions. According to Gartner: forecast: Enterprise IT Spending by Vertical Industry Market, Worldwide, 2013-2019, Q1 2015 Update, worldwide IT Services spending in 2014 was $948 billion, a growth of 1.8% over the previous year.

6. Consolidated Results

Our Sales for the current year grew by 8.12% to Rs. 469,510 million and our Profit for the year was Rs. 86,609 million, recording an increase of 8.98% over the previous year.

7. Consolidated Financial Statements

The Consolidated Financial Statements of the Company for the financial year ended March 31, 2015, prepared in accordance with Indian GAAP as well as IFRS forms part of this Annual Report.

8. Transfer to Reserves

The appropriations to General Reserve for the Financial Year ended March 31,2015 as per consolidated and standalone financial statements are:

Rs.In Mn

Standalone Consolidated

Net profit for the year 81,931 86,609

Balance of Reserve at the 288,627 316,357 beginning of theyear

Transfer to General Reserve 8,193 8,193

Balance of Reserve at the end 341,279 365,983 of theyear

9. Subsidiary companies

In accordance with Section 129(3) of the Companies Act, 2013, a statement containing salient features of the financial statements of the subsidiary companies in Form AOC1 is provided at page no. 208 of the Annual Report.

In accordance with third proviso to Section 136(1) of the Companies Act, 2013, the Annual Report of your Company, containing therein its audited standalone and the consolidated financial statements has been placed on the website of the Company at www.wipro.com Further, audited financial statements together with related information and other reports of each of the subsidiary companies, have also been placed on the website of the Company at www.wipro.com.

10. Investments in direct subsidiaries and minority stake

During the year under review, your Company had invested an aggregate of Rs. 4,127 Million as equity in its direct subsidiaries and in minority shareholding as part of its acquisition strategy. Apart from this, your Company had funded its subsidiaries, from time to time, as per the fund requirements, through loans, guarantees and other means to meet working capital requirements.

In August 2014, the Company acquired ATCO l-Tek Inc., the provider of IT services to ATCO Group, a leading Canadian global utilities and logistics company, which allows the Company to further strengthen its positions in these industries. Your Company also makes strategic minority investments in companies that operate in high-end and niche technology areas including cloud, opensource, artificial intelligence, advanced analytics and internet of things. During the year ended March 31, 2015, certain additional investments were made in Opera Solutions LLC.a leading global big data science company headquartered in Jersey City, New Jersey. In March 2015, your Company entered into a strategic partnership and acquireda minority stake with Drivestream lnc.,a leading Oracle cloud application systems integrator.

11. Number of meetings of the Board

The Board met four times in financial year 2014 viz., on, April 16-17, 2014, July 24, 2014, October 22, 2014 and January 16,2015.The maximum interval between any two meetings did not exceed 120 days.

12. Board independence

Definition of''Independence''of Directors is derived from Clause 49 of the Listing Agreement with Stock Exchanges, NYSE Listed Company Manual and Section 149(6) of the Companies Act, 2013. Based on the confirmation / disclosures received from the Directors under section 149(7) of the Companies Act 2013 and on evaluation of the relationships disclosed, the following Non-Executive Directors are considered as Independent Directors:-

a) Mr.N Vaghul

b) Mr. M. K. Sharma

c) Dr. AshokS Ganguly

d) Dr.JagdishNSheth

e) Ms. IreenaVittal

f) Mr. William Arthur Owens

g) Mr.Vyomesh Joshi

13. Directors and Key Managerial Personnel:

Mr. B C Prabhakar and Mr. Shyam Saran, did not desire for re-election at the last Annual General Meeting of the Company held on July 23,2014 and ceased to be directors of the Company.

Dr. Henning Kagermann resigned as Director of the Company with effect from June 30,2014.

During the year, Mr. Suresh C Senapaty, CFO and Executive Director retired from the services of the Company on attaining his superannuation effective close of business hours of March 31,2015.

Mr. V Ramachandran, resigned as Company Secretary of the Company with effect from close of business hours of April 22,2015.

Your Directors place on record their sincere appreciation of the valuable contribution made by the aforesaid Directors and Company Secretary to the Company.

At the last Annual General Meeting of the Company held on July 23, 2014, Mr. N Vaghul, Dr. Ashok S Ganguly, Ms. IreenaVittal, Mr. MKSharma, Mr.Vyomesh Joshi, Mr. William Arthur Owens and Dr. Jagdish N Sheth were appointed as Independent Directors, for a specific tenure in accordance with Section 149 of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

Mr. Azim H Premji is the Chairman and Managing Director (designated as "Chairman) of the Company and Mr. T

K Kurien is the Chief Executive Officer and Executive Director.

Mr. Jatin P Dalai has been appointed as the Chief Financial Officer of the Company with effect from April 1, 2015 and Mr. M Sanaulla Khan was appointed as the Company Secretary of the Company with effect from June 3,2015.

Pursuanttothe recommendation of the Board Governance, Nomination and Compensation Committee, Mr. Azim H Premji was reappointed by the Board of Directors, subject to the approval of the shareholders, as the Executive Chairman and Managing Director of the Company (designated as"Executive Chairman") on April 21,2015 for a further period of two years with effect from July 31,2015 to July 30, 2017.

Pursuanttothe recommendation of the Board Governance, Nomination and Compensation Committee, Mr. Rishad Azim Premji was appointed asWholeTime Director of the Company by the Board of Directors with effect from May 1, 2015 for a period of five years, subject to the approval of the shareholders.

14. Committees of the Board

The Company''s Board has the following Committees:

1. Audit/Risk and Compliance Committee

2. Board Governance, Nomination and Compensation Committee

3. Strategy Committee

4. Administrative and Shareholders/Investors Grievance Committee (Stakeholders''Relationship Committee)

The details of the membership and attendance of the meetings of the above Committees of the board are provided in the Corporate Governance report on page no. 96 of the annual report.

15. Remuneration Policy

The Board Governance, Nomination & Compensation Committee framed a policy for selection and appointment of Directors including determining qualifications independence of a Director, Key Managerial Personnel, Senior Management Personnel and their remuneration as part of its charter and other matters provided under Section 178(3) of the Companies Act, 2013. An extract of the policy covering these requirements is provided in the Corporate Governance report at page no. 94.

16. Directors'' responsibility Statement

Your Directors hereby confirm that;

(a) In the preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) The Directors have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profitand loss of the Company for that period;

(c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) The Directors have prepared the annual accounts on a going concern basis; and

(e) The Directors, have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively

(f) As required under Section 134(5)(f) of the Companies Act, 2013, and according to the information and explanations presented to us, based on the review done bytheAudit/Riskand Compliance Committee and as recommended by it, we, the Board of Directors, hereby, state that adequate systems and processes, commensurate with the size of the Company and the nature of its business, have been put in place by the Company, to ensure compliance with the provisions of all applicable laws as per the Company''s Global Statutory Compliance Policy and that such systems and processes are operating effectively.

17. Statutory Auditors

The Company''s auditors M/s BSR and Co. LLP, (Regd. No.101248W/W-100022) Chartered Accountants, Bangalore who retire at the ensuing Annual General Meeting, have confirmed their eligibility and willingness to accept office, if re-appointed. The proposal for their re-appointment is included in the notice for Annual General Meeting sent herewith.

18. Auditors''report

There are no qualifications, reservations or adverse remarks made by M/s BSR & Co. LLP, Statutory Auditors in their report for the Financial Year ended March 31,2015.

The Statutory Auditors have not reported any incident of fraud to the Audit Committee of the Company in the year under review.

19. Particulars of loans, guarantees or investments under Section 186 of the Companies Act, 2013

Disclosure on particulars relating to Loans, guarantees or investments under Section 186 of the Companies Act 2013 is provided in page no. 163 to 168 as part of financial statements.

20. Particulars of contracts or arrangements with related parties referred to in sub-section (1) of Section 188 in the prescribed form

The particulars of contracts or arrangements with related parties referred to in Section 188(1), as prescribed in Form AOC-2ofthe rules prescribed under Chapter IX relating to Accounts of Companies under the Companies Act, 2013 is provided at page no. 63 of the Annual Report.

21. Particulars of loans, advances, investments outstanding during the financial year

Disclosure on particulars relating to loans, advances and investments outstanding during the financial year under Clause 32 of the Listing Agreement is provided on page no. 233 as part of financial statements.

22. Material changes and commitments affecting the financial position of the Company

There have been no material changes and commitments, affecting the financial position of the Company which occurred during between the end of the financial year to which the financial statements relate and the date of this report.

23. Details of significant and material orders passed by the regulators/ courts/ tribunals impacting the going concern status and the Company''s operations in future

There are no significant material orders passed by the Regulators/Courts which would impact the going concern status of the Company and its future operations.

24. Dividend

Your Directors recommend a final Dividend of Rs. 7 /- per equity share of Rs. 21- each to be appropriated from the profits of the Company for the year 2014-15, subject to the approval of the shareholders at the ensuing Annual General Meeting.

Pursuant to the approval of Board of Directors on January 16, 2015, your Company had distributed an Interim Dividend of Rs. 5/- per share, of face value of X 21- each, to shareholders, who were on the Register of Members of the Company as on closing hours of January 23,2015, being the record date fixed by the Board of Directors for this purpose.

The total dividend for the year ended March 31,2015 would accordingly beRs. 12/- per equity share ofRs. 21- each.

During the year 2014-15, unclaimed Dividend of Rs. 4,921,287/- was transferred to the Investor Education and Protection Fund.as required underthe Investor Education and Protection Fund (Awareness and Protection of Investor) Rules, 2001.

25. Particulars regarding Conservation of Energy

Your Company has taken several steps to conserve

energy through its"Sustainability"initiatives as disclosed separately as part of this Annual Report. The information of Conservation of Energy as required under Section 134(3)(m) of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014 is not applicable to the business segments which your Company operates. However, as part of Business Responsibility Report on page no. 106 to this Annual Report, your Company had provided details of steps taken in the areas of Energy Conservation and other Sustainability Initiatives.

26. Particulars regarding Research and Development, Technology Absorption

YourCompany''s Research and Development (R&D) initiatives continue to focus on incubating and strengthening its portfolio of IT services across multiple new and emerging technology areas as well as in the intersection of these technologies.The R&D and technology innovation agenda focuses on investing in developing solutions and services around defined Advanced Technology Themes (Next Gen Automation, Smart Devices, Al and Cognitive Systems, Next Generation Architecture, Human Machine Interfaces and Software Defined Everything), co-innovating with customers, building Wipro patent portfolio, shaping innovation culture within the organization and Wipro''s startup and ecosystem connects.

Your Company has invested significantly in next gen automation across IT and business process archetypes and have built IP assets in auto/self-healing process performance and governance automation, rule based task automation, intelligent robotics platforms, API automation and basic tax engineering and automation. More than 400 people are engaged in R&D in these areas. Some of the trademarks in these areas include Fixomatic, SeviceNXT, Cloud CLM, InsightiX, PRESM etc. Your Company have also filed certain patents in these areas. Your Company have also developed an open source Artificial Intelligence platform code named Wipro HOLMES. This is a generic cognitive computing platform that enables development of Al applications such as digital virtual agents, predictive systems, cognitive process automation, visual computing applications, knowledge virtualisation, robotics and drones. Your Company is building a Human Machine Interfaces ("HMI") platform which would enable humans to converse with the system in natural language on the specific domains. The platform also helps in generating multi-modal reactions to human emotions. The Wipro ngGenie, my Advisor provides next generation experiences by enabling Voice and Conversation based advice based on deep domain knowledge. Wipro Retail Sense helps enable virtual experiences with a compelling experience of touch &feel through next generation human computer interactions that combine virtual reality, holographic and haptic technologies to provide multi modal digital experience & feedback. Your Company has created solutions atthe intersection of cutting edge technologies using Computer Vision, Robotics & Machine Learning technologies that solve key business problems in Retail, Consumer Goods and Banking domains. Wipro Sight, a comprehensive in-store analytics solution for the Retail and Consumer Good industry combines the power of human sight with the speed of computer vision, and enables processing and analysis of surveillance data to empower retailers with a near real-time situational awareness, enabling them to respond speedily to waiting customers, long queues, unanticipated stock-outs and similar situations.The solution was showcased at National Retail Federation-January 2015 at New York and was recognized as one of the top 5 Innovations by the Retail Week magazine.

The innovation incubation center, Technovation Center continues to play a key role in helping customers design and conceptualise "change the business" portfolio by leveraging future of technologies, industry processes and consumer behavior.TheTechnovation Center has evolved into a platform to ideate, experiment, develop and create disruptive solutions that shape future of business at the intersection of technologies.

Your Company''s research and development expenses for the years ended March 31,2014 and 2015 wereRs. 2,660 Mn andRs. 2,513 Mn respectively for our continuing operations.

27. Risk Management Policy

Disclosure indicating developmentand implementation of a RiskManagement Policy is provided in the Management Discussion and Analysis Report forming part of this Report.

28. Corporate Social Responsibility

As per the Companies Act, 2013, companies having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or net profit of Rs. 5 crore or more during any financial year are required to constitute a Corporate Social Responsibility (CSR) Committee of the Board of Directors comprising three or more directors, at least one of whom should be an independent director and such company shall spend at least 2% of the average net profits of the company''s three immediately preceding financial years. Accordingly, your Company spent Rs. 1,327 Mn towards CSR activities in fiscal 2015. The contents of the CSR policy and initiatives taken by the Company on Corporate Social Responsibility during the year 2014-15 is attached as Annexure F to this Report and contents of the CSR policy is available on our website atwww.wipro.com

The terms of reference of the Corporate Social Responsibility (CSR) broadly comprises and forms part of Board Governance, Nomination and Compensation Committee and these terms of reference are in accordance with Section 135 of the Companies Act, 2013.The Committee comprises of Dr. Ashok Ganguly, Mr. NVaghul and Mr. William Arthur Owens.

29. Share Capital

The paid up equity share capital of the Company as on March 31,2015 was Rs. 4,938,086,076. During the year under review, the Company has not issued shares with differential voting rights and sweat equity shares.

30. Wipro Employee Stock Option Plans (WESOP) / Restricted Stock Unit Plans

Details of the shares issued under Employee StockOption Plan (ESOP), and also the disclosures in compliance with Section 62 of the Companies Act, 2013 and Rule 12 of Companies (Share Capital and Debentures) Rules, 2014 and Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 and the Securities and Exchange Board of India (Employee Stock Option Scheme and Employees Stock purchase Scheme) Guidelines, 1999 are set out in the Annexure to this report. No employee was issued Stock Option, during the year equal to or exceeding 1% of the issued capital of the Company at the time of grant.

31. Foreign Exchange Earnings and Outgoings

During the year, your Company has earned Foreign Exchange ofRs. 367,665 million and the outgoings in Foreign Exchange were Rs. 194,308 million.

32. Group

The names of the Promoters and entities comprising "group" (and their shareholding) as defined under the Competition Act 2002 for the purposes of Section 3(1)(e) (i) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 include the following:

33. Board Evaluation

Pursuant to the provisions of the Companies Act, 2013, Clause 49 of the Listing Agreement and in line with our corporate governance guidelines, peer evaluation of all Board members, annual performance evaluation of its own performance, as well as the evaluation of the working of its Committees of the Board. This evaluation is led by the Chairman of the Board Governance, Nomination and Compensation Committee with specific focus on the performance and effective functioning of the Board. The evaluation process also considers the time spent by each of the Board members, core competencies, personal characteristics, accomplishment of specific responsibilities and expertise.

34. Internal Control System and their adequacy

Your Company hasan Internal Control System commensurate with the size of the Company and nature of its business and the complexities of its operations. Your Company has adopted required COSO Framework (Committee of Sponsoring Organizations oftheTreadway Commission) for evaluating internal controls. This Framework provides five integrated components of internal controls, namely. Control Environment, Risk Assessment, Control Activity, Information and Communication and Monitoring. Information Technology controls were document, assessed and tested under the COBIT framework. The evaluation of internal controls was carried out Enterprise Risk Management function of your Company.

35. Vigil Mechanism

The Company has adopted an Ombuds process which is a channel for receiving and redressing of employees'' complaints.

Under this policy, we encourage our employees to report any reporting of fraudulent financial or other information to the stakeholders, any conduct that results in violation of the Company''s Code of Business Conduct, to management (on an anonymous basis, if employees so desire).

Likewise, under this policy, we have prohibited discrimination, retaliation or harassment of any kind against any employees who, based on the employee''s reasonable belief that such conduct or practice have occurred or are occurring, reports that information or participates in the said investigation. No individual in the Company has been denied access to the Audit/ Risk and Compliance Committee or its Chairman.

Mechanism followed under Ombudsmen process is appropriately communicated within the Company across all levels and has been displayed on Wipro''s intranet and on Wipro''s website at www.wipro.com

The Audit/Risk and Compliance Committee periodically reviews the functioning of this mechanism.

This meets the requirement under Section 177(9) and (10) of the Companies Act, 2013 and Clause 49 of the Listing Agreement.

No personnel of the Company were denied access to the Audit/Risk & Compliance Committee.

36. Information required under sexual harassment of women at workplace (prevention, prohibition & redressal) Act, 2014 Please refer page no. 108 of the Business Responsibility Report.

37. Secretarial Audit

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Mr. VSreedharan, Partner, M/sV Sreedharan & Associates, a firm of Company Secretaries in Practice to undertake the Secretarial Audit of the Company. The Report of the Secretarial Audit in Form MR 3 for the Financial Year ended March 31, 2015 is annexed as Annexure G to the Report. There are no qualifications, reservations or adverse remarks made by Secretarial Auditor in his report.

38. Corporate Governance

As per Clause 49 of the Listing Agreement with the Stock Exchanges, a separate section on corporate governance practices followed by your Company, together with a certificate from V. Sreedharan & Associates, Company Secretaries on compliance with Clause 49 of the Listing Agreement with Indian Stock Exchanges. This certificate is given in Page no. 105.

39. Business Responsibility Reporting

As per Clause 55 of the Listing Agreement with the Stock Exchanges, a separate section on Business Responsibility Reporting forms an integral part of this Report.

40. Particulars of Employees

The information required pursuantto Section 197 (12) of the Companies Act, 2013 read with Rule 5(1) of The Companies (Appointmentand Remuneration of Managerial Personnel) Rules, 2014 is provided as Annexure HI to this Report.

A statement containing names of employees employed throughout thefinancialyearand in receipt of remuneration of Rs. 60 lacs or more, employees employed for part of the year and in receipt ofRs. 5 lac or more per month, pursuantto Rule 5(2)The Companies (Appointmentand Remuneration of Managerial Personnel) Rules, 2014 is provided as Annexure H2 to this Report.

41. Deposits

The Company has not accepted any deposits from public and as such, no amount on account of principal or interest on public deposits was outstanding as on the date of the balance sheet.

42. Extract of Annual Return

The extract of the Annual Return of your Company as on March 31,2015 as provided under sub-section (3) of Section 92 in the Form MGT 9 is enclosed at page no. 48 as a part of the Directors''Report.

43. Green Initiatives

Electronic copies ofthe Annual Report 2014-15 and Notice of the 69th Annual General Meeting are sentto all members whose email addresses are registered with the Company/ Depository participant(s). For members who have not registered their email addresses, physical copies of the Annual Report 2014-15 and the Notice ofthe 69th Annual General Meeting under Section 101 ofthe Companies Act, 2013 are sent in the permitted mode. Members requiring physical copies can send a request to the Company.

Your Company provides e-voting facility to all its members to enable them to cast their votes electronically on all resolutions set forth in the Notice. This is pursuant to the Section 108 ofthe Companies Act 2013 and Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015.

44. Acknowledgements and Appreciation

Your Directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions and Central and State Governments for their consistent support and encouragement to the Company. I am sure you will join our Directors in conveying our sincere appreciation to all employees of the Company and its subsidiaries and associates for their hard work and commitment. Their dedication and competence has ensured that the Company continues to be a significant and leading player in the IT Services industry.

For and on behalf of the Board of Directors

Azim H Premji

Chairman

Bangalore, June 3,2015


Mar 31, 2014

Dear Shareholders,

The behalf of the Board of Directors, I am happy to present the 68th Report of the Board of Directors of your Company along with the Balance Sheet, Profit and Loss Account and Cash Flow Statement for the year ended March 31st, 2014.

Financial Performance

Key aspects of consolidated financial performance for Wipro and its group companies and standalone financial results for Wipro Limited for the financial year 2013-14 are tabulated below:

(Rs.in Mns)

Consolidated Standalone

2013-14 2012-13 2013-14 2012-13

Sales and Other Income 453,457 388,705 403,684 345,518

Profit before Tax 101,143 78,688 96,082 72,051

Provision for tax 21,234 16,865 22,208 15,549

Minority interest - 438 - 322

Net profit for the year * 79,471 61,501 73,874 56,502

Appropriations

Interim Dividend 7,347 4,932 7,404 4,932

Proposed Dividend on

equity snares

Corporate tax on

distributed dividend

Transfer to General 7,387 5,650 7,387 5,650

Reserve

Balance Retained in

Statement of Profit and 146,187 97,051 121,769 78,371 Loss

* profit for the standalone results is after considering loss of ? 2,607 million [2013: ? (1,107)] relating to changes in fair value of forward contracts designated as hedges of net investment in non-integral foreign operations, translation of foreign currency borrowings and changes in fair value of related cross currency swaps together designated as hedges of net investment in non-integral foreign operations. In the Consolidated Accounts, these are considered as hedges of net investment in non- integral foreign operations and are recognized directly in shareholder''s fund.

Outlook

According to Nasscom Strategic Review 2014, IT- BPM exports are estimated to cross USD 86 billion in FY 2014, growing at 13 per cent. The ability of the industry to suggest solutions that customers need, in addition to offer what they want has been a crucial factor in the rise. While US continues to be the largest geographic market for India, accounting for 62 percent, the highlight for the year was revival in demand from Europe, which grew at 14 percent in FY 2014. BFSI continues to be the largest vertical segment accounting 41 per cent of industry exports; however emerging verticals such as Retail, Healthcare and Utilities are estimated to grow faster.

IT Services is expected to grow at 14.3 per cent in FY 2014, ER& D exports are estimated to grow by an estimated 11.1 per cent in FY 2014 driven by domain - specific solutions focusing on convergence customization, efficiencies and localization.

BPM services growth could be at 11.9 per cent in FY 2014 boosted by demand from selected customers reverting to Outsourcing Business Process, especially from the BFSI, Automotive and Retail sectors. Software Products growth of 9.5 per cent due to increased demand for vertical- specific and SMAC- based solutions. With the advent of Cloud, the next big opportunity in India''s 47 million SMBs- who are able to rapidly bridging the technology adoption gap as they seek to accelerate growth, and increase competitiveness.

Merger

Pursuant to Sections 391 to 394 of the Companies Act, 1956, and approval by the Honorable High Court of Karnataka of the Scheme of Arrangement, Wipro Energy IT Services India Pvt Limited and Wipro Technology Services Limited, the two subsidiary companies merged with Wipro Limited and the merger is effective on April 9,2014 with effect from Appointed date of April 1,2013.

Subsidiary Companies

The Ministry of Corporate Affairs, Government of India, has granted a general exemption under section 212(8) of the Companies Act, 1956 from the requirement to attach detailed financial statements of each subsidiary. In compliance with the exemption granted, we have presented in pages 180 to 181 summary financial information for each subsidiary.

The detailed financial statements and audit reports of each of the subsidiaries are available for inspection at the registered office of the Company during office hours between 11 am to 1 pm and upon written request from a shareholder, your Company will arrange to send the financial statements of subsidiary companies to the said shareholder.

Consolidated Results

Our Sales for the current year grew by 17 % to ? 453,457 million and our Profit for the year was ? 79,471 million, recording an increase of 29% over the previous year.

Dividend

Your Directors recommend a final Dividend of 250% (? 5/- per equity share of face value ? 21- each) to be appropriated from the profits of the year 2013-14, subject to the approval of the shareholders at the ensuing Annual General Meeting. The Dividend will be paid in compliance with applicable regulations.

During the year 2013-14, unclaimed dividend pertaining to interim dividend of 2006-07 of ? 63,83,635/- was transferred to the Investor Education and Protection Fund, as required under the Investor Education and Protection Fund (Awareness and Protection of Investor) Rules, 2001.

Interim Dividend

Pursuant to the approval of Board of Directors on January 17, 2014, your Company had distributed an interim dividend of ? 3/- per share, of face value of X 21- each, to shareholders, who were on the Register of Members of the Company as at closing hours of January 23, 2014, being the record date fixed by the Board of Directors for this purpose.

Investments in direct subsidiaries

During the year under review, your Company had invested an aggregate of USD 114 Mn as equity in its direct subsidiaries. Apart from this, your Company had funded its subsidiaries, from time totime.as perthefund requirements,through loans,guarantees and other means.

Research and Development

Requirement under Rule 2 of Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 regardingTechnical Absorption and Research and Development in Form B is given in Page 43 of the Annual Report, to the extent applicable.

Corporate Governance & Corporate Social Responsibility

Your Company believes that Corporate Governance is the basis of stakeholder satisfaction. Your Company''s governance practices are described separately in Pages 54 to 83 of this annual report. Your Company has obtained a certification from V. Sreedharan & Associates, Company Secretaries on compliance with clause 49 of the listing agreement with Indian Stock Exchanges. This certificate is given in Page 83.

With a view to strengthen the Corporate Governance framework, the Ministry of Corporate Affairs, Government of India has incorporated certain provisions in the Companies Act, 2013. The Ministry of Corporate Affairs has also issued National Voluntary Guidelines for the Social, Environmental and Economic Responsibilities of Business 2011 for adoption by companies. The Guidelines broadly outline governance based on Ethics, Transparency and Accountability, Goods and Services that contribute to sustainability, promote well being of employees, respect the interest of disadvantaged, vulnerable and marginalized groups of stakeholders, promotion of Human Rights, protect and restore environment, supporting inclusive growth and equitable development and provide value to our customers.

Corporate Social Responsibility initiatives are provided in the Business Responsibility Report Pages 84 to 106.

Personnel

The particulars of employees as required by Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employee) Rules, 1975 as amended is reported in Pages 45 to 50 provided as annexure''A''to this report.

Wipro Employee Stock Option Plans (WESOP) / Restricted Stock Unit Plans

Summary information on stock options program of the Company is provided as Annexure B of this report. The information is being provided in compliance with Clause 12 of the Securities and Exchange Board of India (Employee Stock Option Scheme) and (Employee Stock Purchase Scheme) Guidelines, 1999, as amended. No employee was issued Stock Option, during the year equal to or exceeding 1% of the issued capital of the Company at the time of grant.

Foreign Exchange Earnings and Outgoings

Duringtheyear.yourCompany has earned Foreign Exchange of ? 344,688 million and the outgoings in Foreign Exchange were ? 147,897 million, including outgoings on materials imported and dividend.

Conservation of Energy

The Company has taken several steps to conserve energy through its"Sustainability" initiatives as disclosed separately as part of this Annual Report. The information on Conservation of Energy as required under Section 217(1 )(e)ofthe Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 on Conservation of Energy is not applicable to the business segments which we operate. However, as part of Business Responsibility Report in Pages 84 to 106, we had given details of steps taken in the area of Energy Conservation and other Sustainability Intiatives.

Directors: Appointment / Re-appointment

Details regarding Directors proposed to be appointed at the Annual General Meeting to be held on July 23, 2014, due to changes arising from the implementation of the Companies Act, 2013 are provided in the annexure to the Notice convening the Annual General Meeting.

Group

The names of the Promoters and entities comprising "group" (and their shareholding) as defined under the Competition Act 2002 for the purposes of Section 3(1)(e)(i) of SEBI (Substantial

Acquisition of Shares and Takeover) Regulations, 1997 include the following, in addition to other companies that may be forming part of the "group":

SI. Name of the shareholder No. of Shares as on March 31,2014

1 AzimHashamPremji 93,405,100

2 Yasmeen A. Premji 1,062,666

3 Rishad Azim Premji 686,666

4 Tariq Azim Premji 265,000

5 NapeanTrading and Investment 187,666 Company Pvt. Ltd.

6 Vidya Investment and Trading 187,666 Company Pvt. Ltd.

7 Regal Investments and Trading 187,666 Company Pvt. Ltd.

8 Azim Premji Foundation (I) Pvt. Ltd. 10,843,333

9 Mr Azim Hasham Premji Partner 452,906,791

Representing Prazim Traders

10 Mr Azim Hasham Premji Partner 451,619,790

Representing Zash Traders

11 Mr Azim Hasham Premji Partner 370,956,000

Representing Hasham Traders

12 Azim Premji Trust (Held By Trustees of 429,714,120

The Trust)

13 Azim Premji Trustee Company Private NIL Limited

14 Azim Premji Foundation For NIL Development

15 Azim Premji Foundation NIL

16 Azim Premji Trust Services Private Nil Limited

17 Azim Premji Safe Deposit Private Nil Limited

18 Wipro Enterprises Limited (formerly Nil known as Azim Premji Custodial Services Limited)

Total 1,812,022,464

Management''s Discussion and Analysis Report

The Management''s Discussion and Analysis on Company''s performance-industry trends and other material changes with respect to the Company and its subsidiaries, whereverapplicable, are presented from Pages 24 to 40 of this Annual Report.

Re-appointment of Statutory Auditor

The auditors, M/s. BSR & Co LLP (Regd. No. 101248W) Chartered Accountants, retire at the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re-appointed.The proposal for their re-appointment is included in the notice for Annual General Meeting sent herewith.

Cost Audit Report

The Cost Audit report for the year ended March 31,2013 was due on September 30,2013 and was filed byM/sPSVand Associates, the Cost Auditor, on September 30,2013.

M/s PSV and Associates has been appointed as Cost Auditor for the financial year ended March 31, 2014, for the Cost Audit, if applicable for the year.

Fixed Deposits

Your Company has not accepted any fixed deposits. Hence, there is no outstanding amount as on the Balance Sheet date.

Green Initiatives in Corporate Governance

In line with the changes in law permitting companies to send electronic copies of Annual Report, notices, quarterly results, intimation about dividend etc., to the e-mail IDs of shareholders, we have arranged to send the soft copies of these documents to the e-mail IDs of shareholders available with us or our depositories. In case any of the shareholder would like to receive physical copies of these documents, the same shall be forwarded on written request to the Registrars M/s. Karvy Computer Share Private Limited.

Directors'' Responsibility Statement

On behalf of the Directors, we confirm that as required under Section 217 (2AA) of the Companies Act, 1956.

a) In the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures are made from the same;

b) We have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company atthe end of the financial yearand of the profits of the Company for the period;

c) We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d) We have prepared the annual accounts on a going concern basis.

Acknowledgements and Appreciation

Your Directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions and Central and State Governments for their consistent supportand encouragementto the Company. I am sure you will join our Directors in conveying our sincere appreciation to all employees of the Company and its subsidiaries and Associates for their hard work and commitment. Their dedication and competence has ensured that the Company continues to be a significant and leading player in the IT services industry.

For and on behalf of the Board of Directors

Azim H. Premji

Bangalore, June 25,2014 Chairman


Mar 31, 2013

Dear Shareholders,

The am happy to present the 67th Directors'' Report of your Company along with the Balance Sheet and Profit and Loss Account for the year ended March 31, 2013.

Financial Performance

Key aspects of consolidated financial performance for Wipro and its group companies and standalone financial results for Wipro Limited for the financial year 2012-13 are tabulated below:

(Rs. in Mns)

Consolidated Standalone 2012-13 2011-12 2012-13 2011-12

Sales and Other Income 388,705 384,563 345,518 329,103

Profit before Tax 78,688 69,814 72,051 59,186

Profit from continuing operations before tax 78,688 65,855 72,051 56,534

Provision for tax of continuing operation 16,865 13,036 15,549 11,911

Minority interest (322) (186) - -

Net profit from continuing operation 61,501 52,575 56,502 44,623

Profit from discontinued operations before tax - 3,959 - 2,652

Provision for tax of discontinued operations - 809 - 424

Minority interest and equity in earnings/ (losses) in affiliates - 320 - -

Net profit from discontinued operations - 3,470 - 2,228

Net Profit for the year* 61,501 56,045 56,502 46,851

Appropriations

Interim Dividend 4,932 4,917 4,932 4,917

Proposed Dividend on equity shares 12,315 9,835 12,315 9,835

Corporate tax on distributed dividend 2,892 2,393 2,892 2,393

Transfer to General Reserve 5,650 4,685 5,650 4,685

Balance Retained in Statement of Profit and Loss 97,051 65,365 78,371 51,684

* profit for the standalone results is after considering loss of Rs. 1,107 million [2012: Rs. (2,787)] relating to changes in fair value of forward contracts designated as hedges of net investment in non-integral foreign operations, translation of foreign currency borrowings and changes in fair value of related cross currency swaps together designated as hedges of net investment in non-integral foreign operations. In the Consolidated Accounts, these are considered as hedges of net investment in non-integral foreign operations and are recognized directly in shareholder''s fund.

Note on Demerger: During the financial year 2013, the Company had initiated and completed the demerger of consumer care and lighting, infrastructure engineering businesses and other non IT business of the Company (collectively, the"Diversified Business"). The "Scheme of Arrangement" ("the Scheme") involved transfer of the Diversified Business to a "Resulting Company" [Wipro Enterprises Limited (formerly known as Azim Premji Custodial Services Private Limited)]. The Scheme became effective on March 31, 2013 with an appointed date of April 01, 2012 with the sanction of the Honorable High Court of Karnataka and filing of the certified copy of the same with the Registrar of Companies. Consequent to the demerger of the Diversified Business of the Company in terms of the Scheme, the financial statements of the Company for the year ended March 31, 2013, do not include the operations of the Diversified Business, and are therefore strictly not comparable with the figures of the previous year ended March 31, 2012. Please see the financial statements sections for further information. Pursuant to the Scheme, all shareholders of Wipro received either securities of the Resulting Company or the equivalent value in additional shares of Wipro Ltd.

Outlook

According to NASSCOM Strategic Review 2013, Global technology spend is expected to grow by 6% in 2013. World wide IT Services spending is expected to grow is expected to grow 4.2% in 2013 and 4.6% in 2014. The growth is fuelled both by use of IT to reduce cost structure as well as increased adoption of Cloud, Mobility, Analytics and Social Media. India continues to be the global sourcing leader. Global sourcing accounts for only a little over 10 per cent of global technology spending and this highlights India''s growth potential in the context of the large and untapped market opportunity.

Subsidiary Companies

The Ministry of Corporate Affairs, Government of India, has granted a general exemption under Section 212(8) of the Companies Act, 1956 from the requirement to attach detailed financial statements of each subsidiary. In compliance with the exemption granted, we have presented in page 181 to 182 summary financial information for each subsidiary.

The detailed financial statements and audit reports of each of the subsidiaries are available for inspection at the registered office of the company during office hours between 11 am to 1 pm and upon written request from a shareholder, your company will arrange to send the financial statements of subsidiary companies to the said shareholder.

Consolidated Results - Continuing Business

Our Sales from continuing operation for the current year grew by 17% to Rs. 388,705 million and our Profit from continuing operation for the year was Rs. 61,501 million, recording an increase of 17% over the previous year.

Dividend

Your Directors recommend a final Dividend of 250% (Rs. 5/- per equity share of Rs. 2/- each) to be appropriated from the profits of the year 2012-13, subject to the approval of the shareholders at the ensuing Annual General Meeting. The Dividend will be paid in compliance with applicable regulations.

During the year 2012-13, unclaimed dividend of Rs. 10,01,200/- was transferred to the Investor Education and Protection Fund, as required under the Investor Education and Protection Fund (Awareness and Protection of Investor) Rules, 2001.

Interim Dividend

Pursuant to the approval of Board of Directors on January 18, 2013, your Company had distributed an interim dividend of Rs. 2/- per share, of face value of Rs. 2/- each, to shareholders, who were on the Register of Members of the company as at closing hours of January 25, 2013, being the record date fixed by the Board of Directors for this purpose.

Acquisitions in IT space

During the year with respect to continuing business, the Company acquired Promax Applications Group.

Investment in direct subsidiary

During the year under review, your Company had invested an aggregate of USD 50 Mn as equity in its direct subsidiary i.e. Wipro LLC (formerly Wipro Inc.) Apart from this, your Company had funded its subsidiaries, from time to time, as per the fund requirements, through loans, guarantees and other means.

Research and Development

Requirement under Rule 2 of Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 regarding Technical Absorption and Research and Development in Form B is given in page 45 and 46 of the Annual Report, to the extent applicable.

Corporate Governance & Corporate Social Responsibility

Your Company believes that Corporate Governance is the basis of stakeholder satisfaction. Your company''s governance practices are described separately in page 55 of this annual report. Your Company has obtained a certification from V. Sreedharan & Associates, Company Secretaries on compliance with Clause 49 of the Listing Agreement with Indian Stock Exchanges. This certificate is given in page 84.

With a view to strengthen the Corporate Governance framework, the Ministry of Corporate Affairs has incorporated certain provisions in the Companies Bill 2012. The Ministry of Corporate Affairs has also issued National Voluntary Guidelines for the Social, Environmental and Economic Responsibilities of Business 2011 for adoption by companies. The Guidelines broadly outline governance based on Ethics, Transparency and Accountability, Goods and Services that contribute to sustainability, promote well -being of employees'', respect the interest of disadvantaged, vulnerable and marginalized groups of stakeholders, promotion of Human Rights, protect and restore environment, supporting inclusive growth and equitable development and provide value to our customers. On similar lines, Securities and Exchange Board of India prescribed Business Responsibility Reporting by amending the Listing Agreement.

Corporate Social Responsibility initiatives are provided in the Business Responsibility Report Page no 85 to 105 of this report.

Personnel

The particulars of employees as required by Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employee) Rules, 1975 as amended is reported in Page no 47 to 51 provided as Annexure ''A'' to this report.

Wipro Employee Stock Option Plans (WESOP) / Restricted Stock Unit Plans

Summary information on stock options program of the Company is provided as Annexure B of this report. The information is being provided in compliance with Clause 12 of the Securities and Exchange Board of India (Employee Stock Option Scheme) and (Employee Stock Purchase Scheme) Guidelines, 1999, as amended. No employee was issued Stock Option, during the year equal to or exceeding 1% of the issued capital of the Company at the time of grant.

Foreign Exchange Earnings and Outgoings

During the year, your Company has earned Foreign Exchange of Rs. 281,025 million and the outgoings in Foreign Exchange were Rs. 120,685 million, including dividend but excluding outgoings on materials imported.

Conservation of Energy

While the Company has taken several steps to conserve energy through its "Sustainability" initiatives as disclosed separately as part of this Annual Report, the information on Conservation of Energy as required under Section 217(1)(e) of the Companies Act, 1956 read with Rule 2 Para A of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 on Conservation of Energy is not applicable to the business segments which we operate. However, as part of Business Responsibility Report in pages 85 to 105 we had given details of steps taken in the area of Energy Conservation and other Sustainability Initiatives.

Directors:

(A) Re-appointment

Articles of Association of the Company provide that at least two- third of our Directors shall be subject to retirement by rotation. One third of these retiring Directors must retire from office at each Annual General Meeting of the shareholders. A retiring Director is eligible for re-election. Mr N Vaghul and Dr Ashok S Ganguly, Directors, retire by rotation and being eligible offer themselves for reappointment at the ensuing Annual General Meeting. The Board Governance, Nomination Committee and Compensation Committee/Board have recommended their re-appointment for consideration of Shareholders'' approval.

(B) Particulars of directors proposed for appointment/ re-appointment

1. Board of Directors vide resolution of April 19, 2013, re- appointed Mr Suresh C Senapaty as Chief Financial Officer and Executive Director of the Company from April 18, 2013 to March 31, 2015. This re-appointment is subject to the approval of shareholders of the Company at the ensuing Annual General Meeting.

2. Board of Directors vide resolution of June 21, 2013, re- appointed Mr Azim H Premji, as Chairman and Managing Director of the Company (designated as "Chairman") for a further period of two years with effect from July 31, 2013. This re-appointment is subject to the approval of shareholders of the Company at the ensuing Annual General Meeting.

3. Mr Vyomesh Joshi was appointed as an Additional Director of the Company in accordance with Section 260 of the Companies Act, 1956, by the Board of Directors with effect from October 1, 2012. The Additional Director would hold office till the date of Annual General Meeting of the Company scheduled to be held on July 25, 2013. The requisite notice together with necessary deposit has been received from a member pursuant to Section 257 of the Companies Act, 1956, proposing the election of Mr Vyomesh Joshi, as a Director.

Group

The names of the Promoters and entities comprising "group" (and their shareholding) as defined under Competition Act, 2002 and under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 include the following:

Sl. Name of the shareholder No. of No. Shares held as on March, 31, 2013

1 Azim H Premji 93,405,100

2 Yasmeen A Premji 10,62,666

3 Rishad Azim Premji 6,86,666

4 Tariq Azim Premji 2,65,000

5 Mr. Azim Hasham Premji Partner 370,956,000 Representing Hasham Traders

6 Mr Azim Hasham Premji Partner 480,336,000 Representing Prazim Traders

7 Mr. Azim Hasham Premji Partner 479,049,000 Representing Zash Traders

8 Regal Investments & Trading Company 1,87,666 Private Limited

9 Vidya Investment & Trading Company 1,87,666 Private Limited

10 Napean Trading & Investment Company 1,87,666 Private Limited

11 Azim Premji Foundation (I) Private Limited 10,843,333

12 Azim Premji Trust 4,90,714,120

13 Azim Premji Trustee Company Private NIL Limited

14 Azim Premji Foundation for Development NIL

15 Azim Premji Foundation NIL

16 Azim Premji Trust Services Private Nil Limited

17 Azim Premji Safe Deposits Private Nil Limited

18 Azim Premji Custodial Services Private Nil Limited

Total 1,927,880,883

Management''s Discussion and Analysis Report

The Management''s Discussion and Analysis on Company''s performance - industry trends and other material changes with respect to the Company and its subsidiaries, wherever applicable, are presented from pages 24 to 40 of this Annual Report.

Re-appointment of Statutory Auditor

The auditors, M/s. BSR & Co (Regd. No. 101248W), Chartered Accountants, retire at the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re-appointed. The proposal for their re-appointment is included in the notice for Annual General Meeting sent herewith.

Cost Audit Report

The Cost Audit report for the year ended March 31, 2012 in XBRL reporting was filed on November 1, 2012, February 14 and 18, 2013 for various products on which Cost Audit Report is applicable.

Fixed Deposits

Your Company has not accepted any fixed deposits. Hence, there is no outstanding amount as on the Balance Sheet date.

Green Initiatives in Corporate Governance

Ministry of Corporate affairs have permitted companies to send electronic copies of Annual Report, notices, quarterly results, intimation about dividend etc., to the e-mail IDs of shareholders. We are accordingly arranging to send the soft copies of these documents to the e-mail IDs of shareholders available with us or our depositories. In case any of the shareholder would like to receive physical copies of these documents, the same shall be forwarded on written request to the Registrars M/s. Karvy Computer Share Private Limited.

Directors'' Responsibility Statement

On behalf of the Directors, I confirm that as required under Section 217 (2AA) of the Companies Act, 1956.

a) In the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures are made from the same;

b) We have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of the financial year and of the profits of the Company for the period;

c) We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d) We have prepared the annual accounts on a going concern basis.

Compliance with Minimum Public Shareholding requirement

The Company has met with the requirement of having minimum 25% Public Shareholding as permitted by SEBI and a confirmation to this effect has been sent to the Stock Exchanges also on June 3, 2013.

Acknowledgements and Appreciation

Your Directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions, Reserve Bank of India, Securities and Exchange Board of India and Central and State Governments for their consistent support and encouragement to the Company. I am sure you will join our Directors in conveying our sincere appreciation to all employees of the Company and its subsidiaries and Associates for their hard work and commitment. Their dedication and competence has ensured that the Company continues to be a significant and leading player in the IT services industry.

For and on behalf of the Board of Directors

Azim H. Premji

Chairman

Bangalore, June 21, 2013


Mar 31, 2012

I am happy to present the 66th Directors' Report of your Company along with the Balance Sheet and Profit and Loss Account for the year ended March 31, 2012.

Financial Performance

Key aspects of financial performance for Wipro and its group companies and standalone / consolidated financial results of Wipro Limited for the financial year 2011-12 are tabulated below:

(Rs in Mn) Consolidated Standalone 2011-12 2010-11 2011-12 2010-11

Sales and Other income 384,563 318,094 329,103 269,812

Profit before Tax 69,813 62,348 59,186 57,055

Provision for Tax 13,845 9,695 12,335 8,618

Minority interest and equity in earnings/(losses) in affiliates 77 271 - -

Profit for the year* 56,045 52,924 46,851 48,437

Appropriations

Interim Dividend 4,917 4,908 4,917 4,908

Proposed Dividend on equity shares 9,835 9,818 9,835 9,818

Corporate tax on distributed dividend 2,393 2,204 2,393 2,204

Transfer to General Reserve 4,685 4,844 4,685 4,844

Balance retained in Profit & Loss account 65,365 31,150 51,684 26,663

*profit for the year in standalone results is after considering loss of Rs 2,787 million (March 2011: gain of Rs 326 million) relating to changes in fair value of forward contracts designated as hedges of net investment in non-integral foreign operations, translation of foreign currency borrowings and changes in fair value of related cross currency swaps together designated as hedges of net investment in non-integral foreign operations. In the consolidated Accounts, these are considered as hedges of net investment in non-integral foreign operations and are recognized directly in shareholders' funds. (Refer note 33 on page 141)

Outlook

According to Nasscom Strategic Review 2012, Global technology spend is expected to grow by 5% in 2012. Worldwide IT Services spending is expected to grow 4.3% in 2012 and 4.7% in 2013. The growth is fuelled both by use of IT to reduce cost structures as well as increased adoption of cloud, mobility, analytics and social media. India accounts for less than 5% of the global technology spending and this provides a strong headroom for growth of the IT-BPO sector in India.

Worldwide IT spending is forecast to total $3.7 trillion in 2012, a 2.5 percent increase from 2011, according to the latest outlook by Gartner, Inc.

Subsidiary Companies

The Ministry of Corporate Affairs, Government of India, has granted a general exemption under section 212(8) of the Companies Act, 1956 from the requirement to attach detailed financial statements of each subsidiary. In compliance with the exemption granted, we have presented in page 190 to 192 summary financial information for each subsidiary.

The detailed financial statements and audit reports of each of the subsidiaries are available for inspection at the registered office of the company during office hours between 11 am to 1 pm and upon written request from a shareholder, your company will arrange to send the financial statements of subsidiary companies to the said shareholder.

Consolidated Results

Our Sales for the current year grew by 21% to Rs 384,563 million and our Profit for the year was Rs 56,045 million, recording an increase of 6% over the previous year.

Dividend

Your Directors recommend a final Dividend of 200% (Rs 4/- per equity share of Rs 2/- each) to be appropriated from the profits of the year 2011-12, subject to the approval of the shareholders at the ensuing Annual General Meeting. The Dividend will be paid in compliance with applicable regulations.

During the year 2011-12, unclaimed dividend of Rs 5,731,075/- was transferred to the Investor Education and Protection Fund, as required under the Investor Education and Protection Fund (Awareness and Protection of Investor) Rules, 2001.

Interim Dividend

Pursuant to the approval of Board of Directors on January 20, 2012, your company had distributed an interim dividend of Rs 2/- per share, of face value of Rs 2/- each, to shareholders, who were on the Register of Members of the company as at closing hours of January 25, 2012, being the record date fixed by the Board of Directors for this purpose. Interim Dividend was paid on February 3, 2012.

Acquisitions in IT Space

During the year, the Company acquired IT Business of SAIC Group and entered in to a Joint Venture Agreement with Kawasaki and for an acquisition in Brazil for its Infrastructure Engineering Business.

Investments in direct subsidiaries

During the year under review, your Company had invested an aggregate amount of USD 101 Mn as equity in its direct subsidiaries i.e. Wipro Cyprus Private Limited, Wipro Inc, Wipro Holdings Mauritius Limited and Wipro Infrastructure Engineering Machinery (Changzhou) Co., Ltd. Apart from this, your Company had funded its subsidiaries, from time to time, as per the fund requirements, through loans, guarantees and other means.

Research and Development

Requirement under Rule 2 of Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 regarding Technical Absorption and Research and Development in Form B is given in page 53 to 54 of the Annual Report, to the extent applicable.

Corporate Governance & Corporate Social Responsibility

Your company believes that Corporate Governance is the basis of stakeholder satisfaction. Your company's governance practices are described separately in detail in the section on Corporate Governance Report (page 64 to 92) of this Annual Report. Your company has obtained a certificate from V. Sreedharan & Associates, Company Secretaries on compliance with clause 49 of the listing agreement with Indian Stock Exchanges. This certificate is given in page 93 of this Annual Report.

The Ministry of Corporate Affairs had issued National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business 2011 for adoption by companies. The Guidelines broadly outline governance based on Ethics, Transparency and Accountability, Goods and Services that contribute to sustainability, promote well being of employees, respect the interest of disadvantaged, vulnerable and marginalised groups of stake holders, promotion of human rights, protect and restore environment, supporting inclusive growth and equitable development and provide value to our customers. Corporate Social Responsibility initiatives are provided in page no. 94 to 116.

Personnel

The particulars of employees as required by Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employee) Rules, 1975 as amended is reported in page no. 58 to 63 provided as annexure 'C' to this report.

Wipro Employee Stock Option Plans (WESOP) / Restricted Stock Unit Plans

Summary Information on stock options program of the Company is provided as Annexure B of this report. The information is being provided in compliance with Clause 12 of the Securities and Exchange Board of India (Employee Stock Option Scheme) and (Employee Stock Purchase Scheme) Guidelines, 1999, as amended. No employee was issued Stock Option, during the year equal to or exceeding 1% of the issued capital of the Company at the time of grant.

Foreign Exchange Earnings and Outgoings

During the year, your company has earned foreign exchange of Rs 234,413 million and the outgoings in foreign exchange were Rs 99,782 million, including outgoings on materials imported and dividend.

Conservation of Energy

The Company has taken several steps to conserve energy through its "Sustainability" initiatives disclosed separately as part of this Annual Report. The information on Conservation of Energy as required under Section 217(1 )(e) of the Companies Act, 1956 read with Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 is provided in Annexure A in page 52 of this Annual Report.

Directors:

(A) Re-appointment

Articles of Association of the Company provide that at least two-third of our Directors shall be subject to retirement by rotation. One third of these retiring Directors must retire from office at each Annual General Meeting of the shareholders. A retiring Director is eligible for reelection. Dr. Jagdish N Sheth, Mr. Shyam Saran and Dr. Henning Kagermann, Directors, retire by rotation and, being eligible offer themselves for reappointment at the ensuing Annual General Meeting. The Board Governance and Nomination Committee have recommended their re- appointment for consideration of the Shareholders approval.

Group

The names of the Promoters and entities comprising "group" (and their shareholding) as defined under the Monopolies and Restrictive Trade Practices ("MRTP") Act, 1969 for the purposes of Section 3(1)(e)(i) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997 include the following:

Sl. Name of the shareholder No. of No. shares

1. Azim H Premji 93,405,100

2 Yasmeen A Premji 10,62,666

3 Rishad Azim Premji 6,86,666

4 Tariq Azim Premji 2,65,000

5 Mr. Azim Hasham Premji Partner 543,765,000 Representing Hasham Traders

6 Mr Azim Hasham Premji Partner 541,695,000 Representing Prazim Traders

7 Mr. Azim Hasham Premji Partner 540,408,000 Representing Zash Traders

8 Regal Investments & Trading Company 1,87,666 Pvt Ltd

9 Vidya Investment & Trading Company 1,87,666 Pvt Ltd

10 Napean Trading & Investment Company 1,87,666 Pvt Ltd

11 Azim Premji Foundation (I) Pvt. Ltd 10,843,333

12 Azim Premji Trust 1,95,187,120

13 Azim Premji Trustee Company Private NIL Limited

14 Azim Premji Foundation for NIL Development

15 Azim Premji Foundation NIL

16 Azim Premji Trust Services Private Limited Nil

17 Azim Premji Safe Deposits Private Limited Nil

18 Azim Premji Custodial Services Private Nil Limited

Total 1,927,880,883

Management's Discussion and Analysis Report

The Management's Discussion and Analysis on Company's performance - industry trends and other material changes with respect to the Company and its subsidiaries, wherever applicable, are presented from page 32 to 48 of this Annual Report.

Re-appointment of Statutory Auditor

The auditors, M/s. BSR & Co (Regt. No. 101248W), Chartered Accountants, retire at the ensuing Annual General Meeting and have confirmed their eligibility and willingness to accept office, if re-appointed. The proposal for their re-appointment is included in the notice for Annual General Meeting sent herewith.

Cost Audit Report

The Cost Audit report for the year ended March 31, 2011 was due on September 30, 2011 and was filed on September 24, 2011.

Fixed Deposits

Your company has not accepted any fixed deposits. Hence, there is no outstanding amount as on the Balance Sheet date.

Green Initiatives in Corporate Governance

Ministry of Corporate affairs have permitted companies to send electronic copies of Annual Report, notices, quarterly results intimation about dividend etc., to the e-mail IDs of shareholders. We are accordingly arranging to send soft copies of these documents to the e-mail IDs of shareholders available with us or with our depositories. In case any of the shareholder would like to receive physical copies of these documents, the same shall be forwarded on written request to the Registrars M/s. Karvy Computer Share Private Limited.

Directors' Responsibility Statement

On behalf of the Directors I confirm that as required under Section 217 (2AA) of the Companies Act, 1956.

a) In the preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures are made from the same;

b) We have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of the financial year and of the profits of the Company for the period;

c) We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d) We have prepared the annual accounts on a going concern basis.

Acknowledgements and Appreciation

Your Directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions and Central and State Governments for their consistent support and encouragement to the Company. I am sure you will join our Directors in conveying our sincere appreciation to all employees of the Company and its Subsidiaries and Associates for their hard work and commitment. Their dedication and competence has ensured that the Company continues be a significant and leading player in the IT services industry.



For and on behalf of the Board of Directors

Azim H. Premji,

Chairman

Bangalore, June 15, 2012


Mar 31, 2010

I am happy to present on behalf of the Board of Directors, the 64th Directors Report for the year ended March 31, 2010, along with the Balance Sheet and Profit and Loss Account for the year.

Financial Performance

Key aspects of your Companys consolidated financial performance for Wipro and its group companies and standalone financial resultrfor Wipro Limited for the year 2009-10 are tabulated below: (Rs. in Million)

Consolidated Results Standalone Results

2010 2009 2010 2009

Sales and Other Income 276,505 259,616 237,973 210,269

Profit before Tax 55,095 45,196 56,888 35,479

Provision for Tax 9,163 6,460 7,908 5,741

Minority interest and equity in earnings/ (losses) 378 263 - - in affiliates

Profit for the year 46,310 38,999 48,980 29,738

Appropriations Proposed Dividend on equity shares 8,809 5,860 8,809 5,860

Corporate Tax on distributed dividend 1,283 996 1,283 996

Transfer to General Reserve 36,218 32,143 38,888 22,882

* Profit for the year in Standalone Result is after Rs 4,534 million (March 2009: Rs (7,454) million) ofgains/(losses) relating to translation of foreign currency borrowings and mark to market losses of related cross currency swaps. In the Consolidated Accounts, these are considered as hedges of net investment in overseas operations and are recognized directly in shareholders funds. (Refer note 4 on page 79).

Global and Industry outlook

According to N ASSCOM Strategic Review Report 2010, IDC forecasts a cumulative annual growth rate (CAGR) of over 4.08% in worldwide IT services and IT enabled services (IT-ITeS) spending and a CAGR of over 6.18% in offshore IT spending, for the period 2008-13. The combined market for Indian IT-ITeS in fiscal 2010 was nearly $ 63 billion. Key factors supporting this projection are the growing impact of technology led innovation, the increasing demand for global sourcing and gradually evolving socio-political attitudes.

IDC forecasts worldwide IT services spending of approximately $695 billion by 2013, reflecting a compound annual growth rate, or CAGR, of 3.3%. However, Forrester US and Global IT Market Outlook Q4 2009 , predicts that U.S. IT market will grow by 6.6% in 2010 following a drop of 8.2% in 2009. Companies are increasingly turning to offshore technology service providers in order to meet their need for high quality, cost competitive technology solutions. Technology companies have been outsourcing software research and development and related support functions to offshore technology service providers to reduce cycle time for introducing new products and services.

Subsidiary Companies

Wipro is a global corporation having operations in more than 35 countries through 80 subsidiary companies, a few joint ventures and associate companies. Section 212 of the Companies Act, 1956, requires that we attach the Directors Report, Balance Sheet and Profit and Loss Account of our subsidiary companies. We believe that the Consolidated Financial Statements present a more comprehensive picture rather than the standalone financial statements of Wipro Limited and each of its subsidiaries. We, therefore, applied to the Ministry of Corporate Affairs, Government of India and sought an exemption from the requirement to present detailed financial statements of each subsidiary. The Ministry of Corporate Affairs, Government of India, has granted the exemption. In compliance with the terms of the exemption, your Company presented in page nos. 151 & 152, summary financial information for each subsidiary.

The detailed financial statements and audit reports of each of the subsidiaries are available for inspection at the registered office of the Company and upon written request from a shareholder, your Company will arrange to send the financial statements of subsidary companies to the said shareholder.

Consolidated Results

Our Sales for the current year grew by 7% to Rs. 276,505 million and our Profit for the year was Rs. 46,310 million, increase of 19% over the previous year. Over-the last 10 years, our Sales have grown at a compounded annual growth rate (CAGR) of 28% and Profit after Tax at 31%.

Dividend

Your Board of Directors recommend a final Dividend of 300% (Rs. 6 per equity share of Rs. 2/- each) to be appropriated from the profits of the year 2009-10 subject to the approval of the shareholders at the ensuing Annual General Meeting. The Dividend will be paid in compliance with applicable regulations.

During the year 2009-10, unclaimed dividend of Rs. 1,995,655 transferred to the Investor Education and Protection Fund, as required by the Investor Education and Protection Fund (Awareness and Protection of Investor) Rules, 2001.

Issue of Bonus equity shares/American Depository Shares

Your Board of Directors has approved issue of Bonus Shares in the ratio of two equity shares for every three existing equity shares outstanding as on the record date and two American Depositary Shares for every three existing American Depository Shares outstanding as on the record date. Issue of Bonus Shares has also been approved by the shareholders of the Company through Postal Ballot on June 4, 2010. Subsequent to this approval, the record date to determine the eligible shareholders who are entitled to receive the Bonus Shares fixed as June 16, 2010.

Acquisitions and Joint Ventures

Your Company has continued to pursue the strategy of "string of pearls acquisitions" by acquiring businesses which complement our service offerings, provide access to niche skill sets and expand our presence in select geographies. Your Company has a dedicated team of professionals who identify businesses which meet our strategic requirements and are cultural fit to Wipro.

In August 2009, your Company had entered into partnership with Lavasa Corporation Limited for planning, implementing and managing Information and Communication Technology services across Lavasa City. Wipro will support Lavasa City in the areas of City Management system and services, E Governance, Information and Communication Technology services and other value added services.

In October 2009, your Company signed an agreement to form a joint venture with Delhi International Aiport

Private Limited. This Joint Venture Company is named as Wipro Airport IT Services Limited. Wipro holds 74% in the Joint Venture and Delhi International Airport Private Limited holds 26% stake. This partnership assumes significance as IGI airports new integrated terminal (T3) will be the gateway for the Commonwealth Games scheduled to be held in New Delhi.

In October 2009, Wipro GE Healthcare Private Limited, the Joint Venture between Wipro Limited and GE Healthcare, transformed its business by integrating several existing stand-alone business units and manufacturing plants of GE Healthcare in India under Wipro GE Healthcare Entity. This strategic move will lead to more effective management and resources utilization and help accelerate growth, through Wipro GE Healthcares large distribution network. This move will define the next stage of market leadership for Wipro GE Healthcare.

In November 2009, your Company had signed an agreement to acquire the "Yardley" Brand business in Asia, Middle East, Australia and certain African markets from UK based Lornamead Group. This transaction adds another jewel to Wipro Consumer Care and Lighting (FMCG arm of Wipro Limited).

All the subsidiaries of the Company are unlisted and none of them are material unlisted subsidiaries as per Clause 49 of the Listing Agreement.

Investments in direct subsidiaries

During the year under review, your Company has made acquisitions and investments of an aggregate of US$ 171 Million as equity in its direct subsidiaries Wipro Cyprus Private Limited, Wipro Inc and Wipro Yardley Consumer Care Private Limited.

Your Company has also invested Rs. 37 Million as equity in Wipro Airport IT Services Limited, a newly formed joint venture company with Delhi International Airport (P) Limited. Apart from this, the Company has funded its subsidiaries, from time to time, as per the funding requirements, through loans, guarantees and other means.

Corporate Governance & Corporate Social Responsibility

Your Company believes Corporate Governance is at the core of stakeholder satisfaction. Your Companys governance practices are described separately in page 57 of this Annual Report. Your Company has obtained a certification from Sreedharan & Associates, Company Secretaries on our compliance with Clause 49 of the Listing Agreement with Indian Stock Exchanges. This certificate is given in page 84.

With a view to strengthening the Corporate Governance framework, the Ministry of Corporate Affairs has incorporated certain provisions in the Companies Bill, 2009. The Ministty of Corporate Affairs has also issued a set of Voluntary Guidelines on Corporate Governance and Corporate Social Responsibility in December 2009 for adoption by the companies. The Guidelines broadly outline conditions for appointment of directors, guiding principles to remunerate directors, responsibilities of the Boatd, Risk Management, rotation of audit partners, audit firms, conduct of secretarial audit and other Corporate Governance and Corporate Social Responsibility related disclosures. Your Company has by and large complied with various requirements and is in the process of initiating appropriate action, for the other applicable requirements.

Corporate Governance is also related to Innovation and Strategy as the organisations ideas of Innovation and strategies are driven to enhance stakeholder satisfaction for all stakeholders.

Personnel

The particulars of employees as required by Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employee) Rules, 1975, have been provided as an additional.booklet.

Wipro Employee Stock Option Plans/Restricted Stock Unit Plans

Information relating to stock options program of the Company is provided in page 7 of this report. The information is being provided in compliance with Clause 12 of the Securities and Exchange Board of India (Employee Stock Option Scheme) and (Employee Stock Purchase Scheme) Guidelines, 1999, as amended. No employee was issued Stock Option, during the year equal to or exceeding 1 % of the issued capital of the Company at the time of grant.

Foreign Exchange Earnings and Outgoings

During the year, your Company has earned foreign exchange of Rs. 168,469 million and the outgoings inforeignexchange were Rs. 71,739 million, including outgoings on materials imported and dividend.

Research and Development

Requirement under Rule 2 of Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, regarding Technical Absorption and Research and Development in Form B is given in Page 47 of the Annual Report, to the extent applicable.

Conservation of Energy

The Company has taken several steps to conserve energy through its "Eco Eye and Sustainability" initiatives disclosed separately as part of this Annual Report. The information on Conservation of Energy required under Section 217(1 )(e) of the Companies Act, 1956, read with Rule 2 of the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988, is provided in Annexure A in page 44 of this Annual Report.

Directors Re-appointment

Articles of Association of the Company provide that at least two-thirds of our Directors shall be subject to retirement by rotation. One third of these retiring Directors must retire from office at each Annual General Meeting of the shareholders. A retiring Director is eligible for re-election. Mr N Vaghul, Dr Ashok Ganguly and Mr P M Sinha, retire by rotation and being eligible offer themselves for re-appointmeht at this Annual General Meeting. Since the Board Governance and Nomination Committee members were interested in the resolution of re-appointment, Board of Directors have recommended their re-appointment for consideration of the Shareholders.

Directors Appointment

Dr Henning Kagermann was appointed as an Additional Director of the Company with effect from October 27, 2009 in accordance with Section 260 of the Companies Act, 1956. Dr Henning Kagermann would hold office till the conclusion of the Annual General Meeting of the Company scheduled to be held on July 22, 2010. The requisite notices together with necessaty deposits have been received from a member pursuant to Section 257 of the Companies Act, 1956, proposing the election of Dr Henning Kagermann as a Director of the Company.

Mr. Shyam Saran, Former Foreign Secretary, Government of India was appointed as an Additional Director of the Company in accordance with Section 260 of the Companies Act, 1956 by the Board of Directors with effect from July 1, 2010. The Additional Director would hold office till the date of the Annual General Meeting of the Company scheduled to be held on July 22, 2010. The requisite notices together with necessary deposit have been received from a member pursuant to Section 257 of the Companies Act, 1956 proposing the election of Mr. Shyam Saran.

Group

The names of the Promoters and entities comprising "group" as defined under the Monopolies and Restrictive Trade Practices ("MRTP") Act, 1969, for the purposes of

Section 3( 1 )(e)(i) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, include:

Sl. Name of the shareholder No. of shares No.

1 Azim H Premji 56,043,060

2 Yasmeen A Premji 637,600

3 Rishad Azim Premji 568,000

4 Tariq Azim Premji 159,000

5 Mr Azim Hasham Premji Partner 326,259,000 Representing Hasham Traders

6 Mr Azim Hasham Premji Partner 325,017,000 Representing Prazim Traders

7 Mr Azim Hasham Premji Partner 324,244,800 Representing Zash Traders

8 Regal Investments & Trading Company 51,014,200 Pvt. Ltd.

9 Vidya Investment & Trading Company 38,860,600 Pvt. Ltd.

10 Napean Trading & Investment 38,263,000 Company Pvt. Ltd.

11 Azim Premji Foundation (I) Pvt. Ltd. 6,506,000

12 Azim Premji Trust Nil

13 Azim Premji Trustee Company Private Nil Limited;

14 Azim Premji Foundation for Nil Development

15 Azim Premji Foundation Nil



Managements Discussion and Analysis Report

The Managements Discussion and Analysis on Companys performance - industry trends and other material changes with respect to the Company and its subsidiaries, wherever applicable are presented on pages 26 through 33 of this Annual Report.

Re-appointment of Statutory Auditor

The auditors, M/s. BSR & Co., Chartered Accountants, retire at the ensuing Annual General Meeting and have, confirmed their eligibility and willingness to accept office, if re-appointed. The proposal for their re-appointment is included in the notice for Annual General Meeting sent herewith.

Re-appointment of Cost Auditor

Pursuant to the direction from the Ministry of Corporate Affairs for appointment of Cost Auditors, your Board of Directors has re-appointed P.D. Dani & Co., as the Cost Auditor for the year ended March 31, 2011.

Fixed Deposits

Your Company has not accepted any fixed deposits. Hence, there is no outstanding amount as on die Balance Sheet date.

Directors Responsibility Statement

On behalf of the Directors I confirm that as required under Section 217 (2AA) of the Companies Act, 1956.

a) In die preparation of the annual accounts, the applicable accounting standards have been followed and that no material departures are made from the same;

b) We have selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of the financial year and of the profits of the Company for the period;

c) We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; and

d) We have prepared the annual accounts on a going concern basis.

Acknowledgements and Appreciation

Your Directors take this opportunity to thank the customers, shareholders, suppliers, bankers, business partners/associates, financial institutions and Central and State Governments for their consistent support and encouragement to the Company. I am sure you will join our Directors in conveying our sincere appreciation to all employees of the Company for their hard work and commitment. Their dedication and competence has ensured that the Company continues to be a significant and leading player in the IT Services industry.

For and on behalf of the Board of Directors

Azim H. Premji

Chairman

Bangalore, June 21, 2010

 
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