Wipro Q4 Results Preview: Will Wipro Beat TCS In March Quarter? Watch Out For Buyback, Dividends Announcement

Wipro will declare its Q4 earnings for FY26 on April 16. Ahead of the result, Wipro's share price traded cautiously. It will be keenly watched how Wipro performs in comparison to TCS who recently reported upbeat March 2026 quarterly earnings.

In Q4FY26, Wipro's EBIT margins is expected to improve, while top-line front would be driven by deal wins. It is believed that Wipro's growth will be cushioned by currency tailwinds, which will offset the impact of wage hikes. Among key announcements to watch out for are share buybacks and dividends.

Wipro Q4 Results Preview:

"We expect revenue to grow by 3% QoQ because of higher contribution from the Harman acquisition. EBIT margin to improve by 138 bps QoQ due to higher topline growth and currency tailwinds despite wage hike impact," analysts at Axis Securities said.

Meanwhile, analysts at Centrum believes Wipro's IT services revenue will likely grow by 0.6% QoQ in constant currency driven by previous deal wins. Also, EBIT margin may improve by 186 basis points sequentially driven by depreciation in INR and absence of one off cost regarding labour code provision.

Centrum's analysts believe Wipro could guide guide for 0% to 2% of revenue growth in cc terms for Q1FY27E.

On the other hand, analysts at Kotak Institutional Equities expect Wipro's overall revenue growth of 0.9% c/c qoq, which includes 160 bps contribution from the DTS acquisition. On organic basis, revenue is estimated to report a decline of 0.7%.

Also, EBIT margins is seen to be broadly stable. Kotak's analysts added, "Headwind from wage revision for a month and DTS acquisition will likely to be offset by rupee depreciation."

In terms of guidance, the analysts said, Wipro could give revenue guidance of (-)2 to 0% growth.

Wipro Q4 Results: Key Things To Focus

In Kotak's analysts opinion, investors should focus on (1) reasons for loss of a large client, (2) pricing pressure in the healthcare vertical, (3) timelines for catch up of growth with peers, (4) Wipro's point of view on agentic AI and readiness to be deployed in client environment, and (5) GCC growth strategy.

Wipro Buyback Announcement:

In its regulatory filing, Wipro has said that its board of directors are considering the proposal for buyback of equity shares during the meeting held between April 15 to April 16, 2026. The outcome will be announced on April 16.

The last buyback of Wipro was in April 2023, where it bought back shares worth Rs 12,000 crore at Rs 223 per share, which was at a premium of 18% for investors. Before that Wipro carried buyback of Rs 9,500 crore in October 2020 and Rs 10,500 crore in April 2019.

Wipro Dividend Announcement:

Although, Wipro has not mentioned any proposal for dividend that will be considered during the meetings. However, this reward is highly anticipated since tech players have a history of attractive dividend payouts. TCS has also declared its final dividend payout of Rs 31 per share for FY26, so something like that is expected from Wipro too.

Analysts at Kotak said, "Wipro has distributed excess cash in the past through buyback. Even as the company has increased dividend payout ratio, we do not think the approach to distributing excess cash will change. Expect focus on buyback announcement."

In the last 12 months, Wipro has delivered up to Rs 11 dividend per share. Its currently dividend yield is at 5.23%.

Wipro Share Price:

At the time of writing, Wipro share price traded at Rs 209.05 apiece on BSE, down by 0.4%. Its market cap stood at Rs 2,19,262.41 crore.

Should you buy Wipro shares? Kotak analysts have given SELL call on Kotak ahead of its Q4 with fair value at Rs 190. Meanwhile, Centrum has recommended Neutral with target price of Rs 284.

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