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CHAPTER: I
INTRODUCTION OF WIPRO LTD
HISTORY
Wipro Ltd., the flagship company of the Azim H Premji group was incorporated in the year 1945.
The company started off originally as a manufacturer of vegetable ghee/vanaspati, refined edible
oils etc. Gradually the company has diversified into various other businesses.
Today Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services
Company globally. Wipro provides comprehensive IT solutions and services, including systems
integration, Information Systems outsourcing, package implementation, software application
development and maintenance, and research and development services to corporations globally.
In the Indian market, Wipro is a leader in providing IT solutions and services for the corporate
segment in India offering system integration, network integration, software solutions and IT
services. Wipro also has profitable presence in niche market segments of consumer products and
lighting. In the Asia Pacific and Middle East markets, Wipro provides IT solutions and services
for global corporations.
Wipro's ADSs are listed on the New York Stock Exchange, and its equity shares are listed in India
on the Stock Exchange - Mumbai, and the National Stock Exchange, among others.
Wipro is the leading strategic IT partner for companies across India, the Middle East and AsiaPacific - offering integrated IT solutions. They plan, deploy, sustain and maintain your IT
lifecycle through their total outsourcing, consulting services, business solutions and professional
services. Wipro InfoTech helps you drive momentum in your organisation - no matter what
domain you are in.
Backed by their strong quality processes and rich experience managing global clients across
various business verticals, they align IT strategies to your business goals. Along with their best of
breed technology partners, Wipro InfoTech also helps you with your hardware and IT
infrastructure needs.
The various accreditations that they have achieved for every service they offer reflect their
commitment towards quality assurance. Wipro InfoTech was the first global software company to
achieve Level 5 SEI-CMM, the world's first IT Company to achieve Six Sigma, as well as the
world's first company to attain Level 5 PCMM.
Their continuing success in executing projects is a result of their stringent implementation of
quality processes. Deploying quality frameworks to align with your business will give you the
benefit of a smooth and transparent transition while providing complete IT lifecycle management.
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Reliability and perfection are a result of their adherence to these quality benchmarks and this has
been their key differentiator while helping drive your business momentum.
The company?s experience and expertise are measured against globally recognized
standards to ensure their commitment in delivering competitive solutions to their customers.
Wipro InfoTech epitomises quality by maintaining high standards in service offerings and
products, as well as internal processes and people management. They believe in constantly scaling
quality standards by expanding our efficiency in all areas beyond their basic IT offerings.
Different people perceive innovation in various ways. At Wipro InfoTech, their innovative
thinking helps them adopt newer business lines and offerings based on your business
expectations. They have adapted to the changes brought about by technology and business and
this has helped us improve customer experience through service delivery and process
optimisation.
Different divisions of the company:
Wipro Technologies - Wipro Technologies is the global IT services business division of Wipro
Limited. With over 20 offices around the world, Wipro Technologies is the No.1 provider of
integrated business, technology and process solutions on a global delivery platform.
Wipro Infotech- Wipro Infotech is the leading strategic IT partner for companies across India,
the Middle East and Asia-Pacific - offering integrated IT solutions. We plan, deploy, sustain and
maintain your IT lifecycle through our total outsourcing, consulting services, business solutions
and professional services.
Wipro Consumer Care and Lighting- Wipro Consumer Care and Lighting, a business unit of
Wipro Limited, has a profitable presence in the branded retail market of toilet soaps, hair care
soaps, baby care products and lighting products. It is also a leader in institutional lighting in
specified segments like software, pharma and retail.
Wipro Infrastructure Engineering - Wipro Infrastructure Engineering was Wipro Limited?
s first diversification in 1975, which addressed the hydraulic equipment requirements of
mobile original equipment manufacturers in India. Over the past 25 years, the Wipro
Infrastructure Engineering business unit has become a leader in the Hydraulic Cylinders and
Truck Tipping Systems markets in India, and intends growing its business to serve the global
manufacturing requirements of Hydraulic Cylinders and Truck Tippers.
Wipro GE Medical Systems - Wipro GE Medical Systems is a joint venture between Wipro and
General Electric Company. As a part of GE Medical Systems South Asia, it caters to customer and
patient needs with a commitment to uncompromising quality. Wipro GE is India?s
largest exporter of medical systems, with unmatched distribution and service reach in South Asia.
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Wipro GE pioneered the manufacture of Ultrasound and Computed Tomography systems in India
and is a supplier for all GE Medical Systems products and services in South Asia.
Products and services offered by the company:
Wipro is having ists presence across various verticals viz;

Wipro Personal Computing Products

Enterprise Products

Software Products and Licences


Wipro Personal Computing Products:DesktopsEntry Level:

Wipro Desktop WSG37205

Wipro Desktop WSG37555

Wipro Desktop WSG15C55


Mainstream:

Wipro Desktop WSG53255

Wipro Desktop WSG37555

Wipro Desktop WSG15C55


Performance:

Wipro Desktop WSG38105

Wipro Desktop WSG41155


Gaming PC :

Intel?? Processor based


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AMD Processor based


Palm-Sized PC:
Protos Desktop
Wipro Green Computing:

Wipro Desktop WSG 15D55V

Wipro Desktop WSG 37555V.


Note Book:

Wipro 7B1610

Wipro EM4700

Wipro 7B1630

Wipro 7E1100

Wipro 7B1100

Wipro 7B3800

Wipro 7710P

Wipro 7B1650.
Server:

Entry level and dual servers

Performance Segment

Blade server

Enterprise class server.


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AMD- performance & Enterprise classWipro LooKeys.Supercomputing
Services offered by the company:

System Integration

Managed Services

Total Outsourcing

Application Development and Portals

Business Transformation Services

Security Governance

Data Warehousing and Biz Intelligence

Availability Services
Milestones

2011: Inaugurated its first rural BPO at Manjakkudi village in Tamil Nadu to capitalize on
literate talent pool available in the region.

2011: Wipro has signed an agreement to acquire majority stake of Brazil based hydraulic
cylinder manufacturer R.K.M. EQUIPAMENTOS HIDRAULICOS.

2010: Wipro Infotech -- the India, Middle East and Africa, IT Business of Wipro--has been
awarded a 5-year IT outsourcing contract by Vasan Eye Care - one of India's largest network of
eye care centers and a unit of Vasan Healthcare Group.

2010: Wipro Technologies, the global IT services business division of Wipro, has jointly
with Citrix Systems entered into an agreement with Microsoft.

2008: Launch of Wipro Egypt Development Center

2008: Launch of Wipro GSMC in Kuala Laumpur


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2007: Wipro Arabia Joint Venture found

2006: Acquisition of 3D networks

2006: Launch of GSMC- Global Service Management Centre for remote service delivery

2004: Start of Total Outsourcing business

2002: Start of Consulting business unit

2001: Launch of Wipro Infotech Middle East & Asia-Pacific operations

1998: Mission Quality journey started with focus on Six Sigma

2000: Wipro Listed on NYSE

1998: Re-launch of Wipro branded PC

1995: Wipro-BT joint venture started

1995: Joint Venture with Acer started

1995: Partnership with Cisco announced

1995: Offshoring services started

1992: Launch of global R&D services

1990: Launch of global software services business

1988: Partnership with Sun Microsystems announced

1986: Manufacturing tie-up with Epson for printers

1986: Start of Wipro PC manufacturing (with India's first surface mounted technology)

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1984: Start of Wipro Systems - focus on software products (Wipro branded as well as
distribution business)

1981: Manufacture of mini computers started at the Mysore factory

1980: Birth of IT business under banner of Wipro Information Technology Ltd. focused on
hardware manufacturing and R&D

1945: Manufacturing of edible oils


Achievements/ recognition:

Best Websphere Partner Award.

Authorized EMC Signature Partner in South Asia.

Best TSG Partner of HP.

Best System Integrator award 2007-08.

Best Technology Partner for the Year.

Network Integrator of the Year 2008.

SAP Pinnacle Award 2008.

Golden Peacock Innovation Management Award 2007.

India's first ever Microsoft Platinum Partner Award.

Wipro 3D Networks once again emerged as the most formidable partner for Nortel in FY
2006 bagging all the highest awards in significant categories - Sales, pre sales & post sales

Partner of the Year award:--Over Drive Excellence of the Year award -Sales Champion
of the Year award -Pre-Sales Champion of the Year award -Customer Champion of the Year
award

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COMPANY PROFILE
Wipro Ltd is a leading India based provider of IT Services, including Business Process
Outsourcing (BPO) services, globally. The company provides comprehensive IT Solutions and
Services, including Systems Integration, Information Systems Outsourcing, IT Enabled
Services, Package Implementation, Software Application development and maintenance, and
Research and Development Services to corporations globally. They also provide Consumer
Products, Lighting, Furniture, Eco Energy, Water treatment and Hydraulic business. The
company is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services Company
globally. In the Indian market, they are a leader in providing IT Solutions and Services for the
corporate segment in India, offering System Integration, Network Integration, Software
Solutions and IT Services. In the Asia Pacific and Middle East markets, they provide IT
Solutions and Services for global corporations. The company is headquartered in Bangalore,
India. The company provides the integrated business, technology and process solution on a
global delivery platform to customers across Americas, Europe, Middle East and Asia Pacific,
they offer business value to clients through process excellence and service delivery innovation
such as Information Technology services, Product Engineering services, Technology
Infrastructure services, Business Process Outsourcing services and consulting services. Wipro
Ltd was incorporated in the year 1945 at Karnataka by Azim H Premji who is promoter and
chairman of the company. The company started as a edible oil producer and then transformed
themselves in into leading player in Fast Moving Consumer Goods and IT services & Products
business. During the year 1994-95, the company secured ISO 9001 certification for their five
manufacturing and development facilities. In February 2001, the company became the first
software technology and services company in India to be certified for ISO:14001 certification
for complying with the international standards for Environmental Management System (EMS)
in three major software development and technology centers in Bangalore. Wipro
Technologies won the 'Banker Technology Award' for the year 2004 Instituted by the Financial
Times in the 'Risk Management Award' category. During the year 2005-06, the company
acquired mPower Software Services Inc, a Princeton, New Jersey, US headquartered company
with a development center in Chennai and MPACT Technology Services Pvt Ltd, based in
Chennai, for an all cash consideration of USD 28 million. Also, they acquired New Logic
Technologies AG, an Austrian firm which is mainly engaged in the semiconductor IP business
and the Engineering Design Services business including the Analog Mixed Signal Business for
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an all cash consideration of Euro 26 million. The company received the BEST award from
American society for training & development (ASTD) for three consecutive years 2004, 2005
and 2006. During the year 2006-07, the company acquired US based Quantech Global
Services LLC and the India based Quantech Global Services Ltd for a cash consideration of
approximately USD 3 million. They acquired US based CMango Inc and India based CMango
India Pvt Ltd for cash consideration of USD 20 Million. They also acquired Finland based
Saraware Oy Middle East and SAARC operations of 3D Networks and Planet PSG during the
year. In their Consumer Care and Lighting business, the company acquired North-West
Switches business from North- West Switchgear Ltd, a company in the business of switches,
sockets, MCBs etc. for an upfront cash consideration of Rs 1,022 million. In the Infrastructure
Engineering business, they acquired Hydrauto Group AB for a cash consideration of USD 31
million. The company in partnership with Motorola and formed a joint venture namely
WMNETSERV Ltd for delivering world-class managed Services to telecom operators in the
area of network operations. During the year 2007-08, as per scheme of amalgamation, Wipro
Infrastructure Engineering Ltd, Wipro Healthcare IT Ltd, Quantech Global Services Ltd mPact
Technology Services Pvt Ltd, mPower Software Services (India) Pvt Ltd and cMango India
Pvt Ltd were amalgamated with the company with effect from April 1, 2007. The company in
association with DAR Al-Riyadh Holding Co Ltd formed a joint venture namely Wipro Arabia
Ltd, for providing application development, implementation and maintenance services,
systems integration and data storage services in the Kingdom of Saudi Arabia. During the
year, the company acquired 100% shareholding in Unza Holdings Ltd, a Singapore based Fast
Moving Consumer Goods company together with their subsidiaries for an all cash
consideration of approximately USD 246 million. They acquired US-based provider of IT
infrastructure management, enterprise application and business process outsourcing services,
for an acquisition price of about USD 600 million. They also acquired OKI Techno Centre
Singapore Pte Ltd (now called as Wipro Techno Centre Singapore Pte Ltd) in an all cash deal
of USD 2.5 million. During the year 2008-09, the company invested an aggregate of USD 432
million as equity, in their direct subsidiaries Wipro Cyprus Pvt Ltd, Wipro Holdings
(Mauritius) Ltd, Wipro Inc and Wipro Technology Services Ltd. They also re-structured a few
of their overseas subsidiaries and merged them with their holding company in the US. In
January 2009, the company acquired Wipro Technology Services Ltd (formerly called as Citi
Technology Services Ltd) for USD 127 million. During the year 2009-10, Wipro Networks Pte
Ltd, Singapore and WMNETSERV Ltd, Cyprus were amalgamated with the company with
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effect from April 1, 2009. In August 2009, the company entered into partnership with Lavasa
Corporation Ltd for planning, implementing and managing Information and Communication
Technology services across Lavasa City. In October 2009, the company signed an agreement
with Delhi International Airport Pvt Ltd and formed a joint venture company namely Wipro
Airport IT Services Ltd. Also, Wipro GE Healthcare Pvt Ltd, the joint venture between the
company and GE Healthcare, transformed their business by integrating several existing standalone business units and manufacturing plants of GE Healthcare in India under Wipro GE
Healthcare Entity. In November 2009, the company signed an agreement to acquire the
'Yardley' Brand business in Asia, Middle East, Australia and certain African markets from UK
based Lornamead Group. In March 2010, they won a turnkey project from the Financial
Intelligence Unit - India, Ministry of Finance, Government of India. As part of the project, the
company will implement FiNnet (Financial Intelligence Network) for FIU-IND. In April 2010,
the company signed a partnership agreement with Philips to offer Blu-ray middleware and
solution development services around Philips' developed Blu-ray technology. In May 2010,
the company and Oracle Corporation launched a co developed solution, a Process Integration
Pack (PIP) for the High Technology industry. This solution is part of Wipro's offerings that
provide a comprehensive solution footprint for the High Technology industry. They entered
into a co-innovation agreement with SAP AG to develop and deliver sustainability
management and energy management solutions to enterprise customers globally. In June 2010,
the company's Business Process Outsourcing division partnered with Microsoft Corporation
for providing global Legal Process Outsourcing (LPO) for Microsofts Intellectual Property
(IP) portfolio. The company launched Wipro Hospitality Management Solution at HITEC
2010, the conference for the Hospitality and Leisure industry. In July 2010, the company in
association with Lavasa Corporation Ltd and Cisco Systems Inc signed definitive agreements
for Cisco to participate in MyCity Technologies Ltd to provide information and
communications technology services in the new development of Lavasa City. In August 2010,
the company entered into a five year agreement with ArcelorMittal, the steel company, to
consolidate and migrate their messaging systems to the Microsoft Exchange 2010 messaging
platform. In September 2010, the company signed five year strategic partnership with Central
Bank of India for providing core banking solution for seven sponsored regional rural banks.
The company will deliver business-IT alignment by deploying and implementing the core
banking solution and the identified delivery channels seamlessly. They will also set up a 24
hour centralized helpdesk facility for the project covering applications, data center, networks,
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security and end user systems. During the year 2010-11, the company re-structured a few of
their subsidiaries including overseas subsidiaries through merger/ other legal process. Wipro
Yardley consumer care Pvt Ltd, a subsidiary company got merged with Wipro Ltd with effect
from April 1, 2010, being the appointed date. In December 2010, the company signed a
contract with Vodafone Essar. As a part of this strategic engagement, the company will support
Vodafone Essar with its fixed line telecom services for enterprise business customers. Wipro
will provide a wide range of services including network design and build, integration with
existing IT OSS/ BSS applications and managed services if the setup over three years. In
addition, Wipro will also build an Enterprise Network Operation Center to manage the
operations of Vodafone Essar's enterprise customers. In January 2011, the company and
Callidus Software Inc entered into a partnership to drive sales performance management
across organizations in the Asia-Pacific region. In May 2011, the company signed an
agreement to acquire majority stake of Brazil based Hydraulic Cylinder manufacturer R.K.M.
EQUIPAMENTOS HIDRAULICOS LTDA. In June 10, 2011, the company acquired the
Commercial Business Services Business Unit of Science Applications International
Corporation (SAIC).

DIRECTORS REPORT

Dear Shareholders,
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.
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
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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% 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
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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.
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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 OutgoingsDuring 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.
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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.

CHAPTER II
AUDIT REPORT OF WIPRO
AUDITORS REPORT OF WIPRO 2011-12
To the Members of WIPRO LIMITED
We have audited the attached balance sheet of Wipro Limited (the Company) as of March 31,
2012, the statement of profit and loss and the cash flow statement for the year ended on that date,
annexed thereto. These financial statements are the responsibility of the Companys management.
Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with the auditing standards generally accepted in India.
Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for our opinion.
1. As required by the Companies (Auditors Report) Order, 2003, as amended (the
Order),issued by the Central Government of India in terms of Section 227(4A) of the
Companies Act, 1956 (the Act), we enclose in the Annexure a statement on the matters
specified in paragraphs 4 and 5 of the said Order.

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2. Further to our comments in paragraph 1 above, we report that:
a) we have obtained all the information and explanations, which to the best of our
knowledge and belief were necessary for the purposes of our audit;
b) in our opinion, proper books of account as required by law have been kept by the
Company so far as appears from our examination of those books;
c) the balance sheet, statement of profit and loss and cash flow statement dealt with by this
report are in agreement with the books of account;
d) in our opinion, the balance sheet, statement of profit and loss and cash flow statement
dealt with by this report comply with the accounting standards referred to in sub-section
(3C) of Section 211 of the Act ;
e) on the basis of written representations received from the directors as on March 31, 2012
and taken on record by the Board of Directors, we report that none of the directors is
disqualified as of March 31, 2012 from being appointed as a director in terms of clause
(g) of sub-section (1) of Section 274 of the Act; and
f) In our opinion and to the best of our information and according to the explanations given
to us, the said accounts give the information required by the Act, in the manner so
required and give a true and fair view in conformity with the accounting principles
generally accepted in India:
1. in the case of the balance sheet, of the state of affairs of the Company as of March 31, 2012;
2. in the case of the statement of profit and loss, of the profit of the Company for the year ended
on that date; and
3. in the case of the cash flow statement, of the cash flows of the Company for the year ended on
that date.
For B S R & Co.
Chartered Accountants

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Firm Registration No: 101248W

Natrajh Ramakrishna
Partner
Membership No. 032815
Bangalore
April 25, 2012

ANNEXURE TO AUDITORS REPORT


Annexure referred to in paragraph 1 of our report to the members of Wipro Limited (the
Company) for the year ended March 31, 2012.
(i) (a) The Company has maintained proper records showing full particulars including quantitative
details and situation of fixed assets.
(b) The Company has a regular programme of physical verification of its fixed assets by which all
fixed assets are verified in a phased manner over a period of three years. In our opinion, this
periodicity of physical verification is reasonable having regard to the size of the Company and the
nature of its assets. As informed to us, no material discrepancies were noticed on such
verification.
(c) Fixed assets disposed off during the year were not substantial, and therefore, do not affect the
going concern assumption.
(ii) (a) The inventory, except goods-in-transit, has been physically verified by the management
during the year. In our opinion, the frequency of such verification is reasonable.
(b) The procedures for the physical verification of inventories followed by the management are
reasonable and adequate in relation to the size of the Company and the nature of its business.

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(c) The Company is maintaining proper records of inventory. As informed to us, the discrepancies
noticed on verification between the physical stocks and the book records were not material.
(iii) (a) The Company has granted loans to four parties covered in the register maintained under
Section 301 of the Companies Act, 1956 (Act). The maximum amount outstanding during the
year was ` 4,060 millions and the year-end balance of such loans was ` 3,969 millions (of which
loans amounting to ` 3,536 millions are interest free).
(b) In our opinion, the rate of interest, where applicable and other terms and conditions on which
loans have been granted to companies, firms or other parties covered in the register maintained
under Section 301 of the Act are not, prima facie, prejudicial to the interest of the Company.
(c) The principal amounts and interest, where applicable, are being repaid regularly in accordance
with the agreed contractual terms. Additionally, there are no overdue amounts in excess of Rupees
one lakh. Accordingly, paragraphs 4(iii) (c) and (d) of the Order is not applicable to the Company.
(d) The Company has not taken any loans, secured or unsecured, from companies, firms or other
parties covered in the register maintained under Section 301 of the Act. Accordingly, paragraphs 4
(iii) (e) to (g) of the Order are not applicable to the Company.
(vi) In our opinion and according to the information and explanations given to us, there is an
adequate internal control system commensurate with the size of the Company and the nature of its
business with regard to purchase of inventories and fixed assets and with regard to sale of goods
and services. We have not observed any major weakness in the internal control system during the
course of the audit.
(v) (a) In our opinion and according to the information and explanations given to us, the
particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in
the register required to be maintained under that Section.
(b) In our opinion and according to the information and explanations given to us, the transactions
made in pursuance of contracts or arrangements referred to in (a) above and exceeding the value
of ` five lakh in respect of any party during the year have been made at prices which are
reasonable having regard to the prevailing market prices at the relevant time.
(vi) The Company has not accepted any deposits from the public.

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(vii) In our opinion, the Company has an internal audit system commensurate with the size and
nature of its business.
(viii) We have broadly reviewed the books of account relating to material, labour and other items
of cost maintained by the Company pursuant to the Rules prescribed by the Central Government
for the maintenance of cost records under section 209(1) (d) of the Act and are of the opinion that
prima facie, the prescribed accounts and records have been made and maintained. However, we
have not made a detailed examination of the records.
(ix) (a) According to the information and explanations given to us and on the basis of our
examination of the records of the Company, amounts deducted/accrued in the books of account in
respect of undisputed statutory dues including Provident Fund, Service tax, Employees State
Insurance, Income-tax, Sales-tax, Wealth tax, Customs duty, Excise duty, Investor Education and
Protection Fund and other material statutory dues have been generally regularly deposited during
the year by the Company with the appropriate authorities. According to the information and
explanations given to us, no undisputed amounts payable in respect of Provident Fund, Service
tax, Employees State Insurance, Income-tax, Sales tax, Wealth tax, Investor Education and
Protection Fund, Customs duty, Excise duty and other material statutory dues were in arrears as of
March 31, 2012 for a period of more than six months from the date they became payable.
(b) According to the information and explanation given to us, there is no disputed amounts
payable in respect of Wealth tax. The following dues of Income tax, Excise duty, Customs duty,
Sales tax and Service tax have not been deposited by the Company on account of disputes:
Name of the Statute

Nature

of

the Amount

dues

Period

to Forum

where

unpaid * which

the dispute

is

(Rs.

in amount relates pending

millions)
The Income Tax Act, Income Tax and 5,226
1961

(Assessment
year)
2007-2008

tax

Appellate

interest demanded

State Sales Tax/VAT Sales tax, interest 866

1986-87

and CST (pertaining and

2007-08

to various states)
demanded
State Sales Tax/VAT Sales

Income

penalty
tax 414
Page 19

1986-87

Tribunal
to Appellate
Authorities
to Appellate Tribunal

VIVEK COLLEGE OF COMMERCE


and CST (pertaining demanded
to various states)
State Sales Tax/VAT Sales

tax

2009-10
and 39

and CST (pertaining penalty demanded


to

1999-00
2006-07

to High

court

Supreme court

Kerala,

Karnataka

and

Andhra Pradesh)
The Central Excise Excise

duty 41

1997-98

Act, 1944
demanded
The Central Excise Excise

duty 7

2010-11
2004-05

Act, 1944
The Customs

duty, 342

1994-95, 1997- Appellate

demanded
Act, Customs

1962

interest

and

98, 2001-10

to Appellate
Authorities
CESTAT

Authorities

Customs

penalty demanded
Act, Customs duty and 40

1991-92

1962
The Customs

penalty demanded
Act, Customs
duty 44

2006-07
1990-98

1962
The Finance

demanded
Act, Service

tax 105

2005-06
2003-04

Supreme court
to Appellate

1994 - Service tax


demanded
The Finance Act, Service

tax 378

2007-08
2002-03

Authorities
to CESTAT

The

1994 - Service tax

demanded

to CESTAT
and High

court

2009-10

*The amounts paid under protest have been reduced from the amounts demanded in arriving at the
aforesaid disclosure.
(x) The Company does not have any accumulated losses at the end of the financial year and has
not incurred cash losses during the financial year and in the immediately preceding financial year.
(xi) In our opinion and according to the information and explanations given to us, the Company
has not defaulted in repayment of dues to its banks. The Company did not have any outstanding
dues to any financial institutions or debentures holders during the year.
(xii) The Company has not granted any loans and advances on the basis of security by way of
pledge of shares, debentures and other securities.

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VIVEK COLLEGE OF COMMERCE


(xiii) In our opinion and according to the information and explanations given to us, the Company
is not a chit fund / nidhi / mutual benefit fund / society.
(xiv) According to the information and explanations given to us, the Company is not dealing or
trading in shares, securities, debentures and other investments.
(xv) In our opinion and according to the information and explanations given to us, the terms and
conditions on which the Company has given guarantees for loans taken by others from banks or
financial institutions are not prejudicial to the interest of the Company.
(xvi) In our opinion and according to the information and explanations given to us, the term loans
taken by the Company have been applied for the purposes for which they were raised.
(xvii) According to the information and explanations given to us and on an overall examination of
the balance sheet of the Company, we are of the opinion that the funds raised on short-term basis
have not been used for long-term investment.
(xviii) The Company has not made any preferential allotment of shares to companies/firms/parties
covered in the register maintained under Section 301 of the Act.(xix) The Company did not have
any outstanding debentures during the year.
(xx) The Company has not raised any money by public issues during the year.
(xxi) According to the information and explanations given to us, no fraud on or by the Company
has been noticed or reported during the course of our audit.
For B S R & Co.
Chartered Accountants
Firm Registration No: 101248W
Natrajh Ramakrishna
Partner
Membership No. 032815
Bangalore
Page 21

VIVEK COLLEGE OF COMMERCE


April 25, 2012

CONSOLIDATED AUDITORS REPORT OF WIPRO LTD 2011 - 12


AUDITORS REPORT

To the Board of Directors on the Consolidated Financial Statements of Wipro


Limited and its Subsidiaries
We have audited the attached consolidated balance sheet of Wipro Limited (the Company) and
subsidiaries (collectively called the Wipro Group) as of March 31, 2012, the consolidated
statement of profit and loss and the consolidated cash flow statement for the year ended on that
date, annexed thereto. These consolidated financial statements are the responsibility of the
Companys management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in India. Those
Standards require that we plan and perform the audit to obtain reasonable assurance about
whether the consolidated financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated
financial statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall consolidated
financial statement presentation. We believe that our audit provides a reasonable basis for our
opinion.
We report that the consolidated financial statements have been prepared by the Companys
management in accordance with the requirements of Accounting Standard 21, Consolidated
Financial Statements and Accounting Standard 23, Accounting for Investments in Associates in
Consolidated Financial Statements, issued by the Institute of Chartered Accountants of India
(ICAI).
Without qualifying our opinion, we draw attention to Note 28 of the Notes that describes the
principles of Accounting Standard (AS) 30, Financial Instruments: Recognition and
Measurements, followed by the Company, which has not currently been notified by the National
Page 22

VIVEK COLLEGE OF COMMERCE


Advisory Council for Accounting Standards pursuant to the Companies (Accounting Standards)
Rules, 2006 as per Section 211(3C) of the Companies Act, 1956. Had the Company not followed
the principles of AS 30, the profit after taxation for the year ended March 31, 2012 would have
been lower by ` 1,633 million.
In our opinion and to the best of our information and according to the explanations given to us,
the consolidated financial statements give a true and fair view in conformity with the accounting
principles generally accepted in India:
a) In the case of the consolidated balance sheet, of the state of affairs of the Wipro Group as
of March 31, 2012;
b) In the case of the consolidated statement of profit and loss, of the profit of the Wipro
Group for the year ended on that date; and
c) In the case of the consolidated cash flow statement, of the cash flows of the Wipro Group
for the year ended on that date.
For B S R & Co.
Chartered Accountants
Firm registration No: 101248W
Natrajh Ramakrishna
Partner
Membership No. 032815
Bangalore
June 13, 2012

AUDITORS REPORT OF WIPRO LTD 2012 -13


INDEPENDENT AUDITORS' REPORT
To the Members of Wipro Limited
Page 23

VIVEK COLLEGE OF COMMERCE


Report on the financial statements
We have audited the accompanying financial statements of Wipro Limited ("the Company"),
which comprise the balance sheet as at 31 March 2013, the statement of profit and loss and cash
flow statement for the year then ended, and a summary of significant accounting policies and
other explanatory information.
Management's responsibility for the financial statements
Management is responsible for the preparation of these financial statements that give a true and
fair view of the financial position, financial performance and cash flows of the Company in
accordance with the Accounting Standards referred to in sub-section (3C) of section 211 of the
Companies Act, 1956 ("the Act"). This responsibility includes the design, implementation and
maintenance of internal control relevant to the preparation and presentation of the financial
statements that give a true and fair view and are free from material misstatement, whether due to
fraud or error.
Auditors' responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with the standards on auditing issued by the Institute of
Chartered Accountants of India. Those standards require that we comply with ethical requirements
and plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditors' judgment,
including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the Company's preparation and fair presentation of the financial statements in order to
design audit procedures that are appropriate in the circumstances. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of the
accounting estimates made by management, as well as evaluating the overall presentation of the
financial statements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.

Page 24

VIVEK COLLEGE OF COMMERCE


Opinion
In our opinion and to the best of our information and according to the explanations given to us,
the financial statements give the information required by the Act in the manner so required and
give a true and fair view in conformity with the accounting principles generally accepted in India:
a) In the case of the balance sheet, of the state of affairs of the Company as at 31 March
2013;
b) In the case of the statement of profit and loss, of the profit of the Company for the year
ended on that date; and
c) In the case of the cash flow statement, of the cash flows of the Company for the year
ended on that date.
Report on other legal and regulatory requirements
1. As required by the Companies (Auditor's Report) Order, 2003, ("the Order"), as amended,
issued by the Central Government of India in terms of sub-section (4A) of Section 227 of
the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and
5 of the said Order.
2. As required by Section 227(3) of the Act, we report that:
a. we have obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the purpose of our audit;
a) in our opinion proper books of account as required by law have been kept by the Company
so far as appears from our examination of those books;
b) the balance sheet, statement of profit and loss, and cash flow statement dealt with by this
Report are in agreement with the books of account;
c) in our opinion, the balance sheet, statement of profit and loss, and cash flow statement
comply with the accounting standards referred to in sub-section (3C) of Section 211 of the
Companies Act, 1956;
d) on the basis of written representations received from the directors as on 31 March 2013,
and taken on record by the Board of Directors, none of the directors is disqualified as on
Page 25

VIVEK COLLEGE OF COMMERCE


31 March 2013, from being appointed as a director in terms of clause (g) of sub-section (1)
of Section 274 of the Companies Act, 1956.
For BSR

&

Chartered

Co.
Accountants

Firm's Registration No.: 101248W


Supreet

Sachdev

Partner
Membership No.: 205385
Bangalore
June 21, 2013

ANNEXURE TO THE INDEPENDENT AUDITORS' REPORT


Annexure referred to in paragraph 1 of our report to the members of Wipro Limited ("the
Company") for the year ended March 31, 2013.
(i) (a) The Company has maintained proper records showing full particulars including quantitative
details and situation of fixed assets.
(b) The Company has a regular programme of physical verification of its fixed assets by which all
fixed assets are verified in a phased manner over a period of three years. In our opinion, this
periodicity of physical verification is reasonable having regard to the size of the Company and the
nature of its assets. In accordance with this programme, certain fixed assets were verified and no
material discrepancies were noticed on such verification.
(c) Fixed assets disposed off during the year were not substantial, and therefore, do not affect the
going concern assumption.
(ii) (a) The inventory, except goods-in-transit, has been physically verified by the management
during the year. In our opinion, the frequency of such verification is reasonable.
(b) The procedures for the physical verification of inventories followed by the management are
reasonable and adequate in relation to the size of the Company and the nature of its business.

Page 26

VIVEK COLLEGE OF COMMERCE


(c) The Company is maintaining proper records of inventory. The discrepancies noticed on
verification between the physical stocks and the book records were not material.
(iii) (a) The Company has granted loans to four parties covered in the register maintained under
Section 301 of the Companies Act, 1956 ("Act"). The maximum amount outstanding during the
year was Rs. 5,856 millions and the year-end balance of such loans was Rs. 2,535 millions (of
which loans amounting to Rs. 1,607 millions are interest free).
(b) In our opinion, the rate of interest, where applicable and other terms and conditions on which
loans have been granted to companies, firms or other parties covered in the register maintained
under Section 301 of the Act are not, prima facie, prejudicial to the interest of the Company.
(c) The principal amounts and interest, where applicable, are being repaid regularly in accordance
with the agreed contractual terms. Additionally, there are no overdue amounts in excess of Rupees
one lakh. Accordingly, paragraphs 4(iii) (c) and (d) of the Order is not applicable to the Company.
(d) The Company has not taken any loans, secured or unsecured, from companies, firms or other
parties covered in the register maintained under Section 301 of the Act. Accordingly, paragraphs 4
(iii) (e) to (g) of the Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations given to us, there is an
adequate internal control system commensurate with the size of the Company and the nature of its
business with regard to purchase of inventories and fixed assets and with regard to sale of goods
and services. We have not observed any major weakness in the internal control system during the
course of the audit.
(v) (a) In our opinion and according to the information and explanations given to us, the
particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in
the register required to be maintained under that Section.
(b) In our opinion and according to the information and explanations given to us, the transactions
made in pursuance of contracts or arrangements referred to in (a) above and exceeding the value
of Rupees five lakh in respect of any party during the year have been made at prices which are
reasonable having regard to the prevailing market prices at the relevant time.
(vi) The Company has not accepted any deposits from the public.

Page 27

VIVEK COLLEGE OF COMMERCE


(vii) In our opinion, the Company has an internal audit system commensurate with the size and
nature of its business.
(viii) We have broadly reviewed the books of account relating to material, labour another items of
cost maintained by the Company pursuant to the Rules prescribed by the Central Government for
the maintenance of cost records under Section 209(1) (d) of the Act and are of the opinion that
prima facie, the prescribed accounts and records have been made and maintained. However, we
have not made a detailed examination of the records.
(ix) (a) According to the information and explanations given to us and on the basis odour
examination of the records of the Company, amounts deducted/accrued in the books of account in
respect of undisputed statutory dues including Provident Fund, Employees' State Insurance,
Income-tax, Sales-tax, Service tax, Wealth tax, Customs duty, Excise duty, Investor Education and
Protection Fund and other material statutory dues have been generally regularly deposited during
the year by the Company with the appropriate authorities.
According to the information and explanations given to us, no undisputed amounts payable in
respect of Provident Fund, Employees' State Insurance, Income-tax, Sales-tax, Service tax, Wealth
tax, Investor Education and Protection Fund, Customs duty, Excise duty and other material
statutory dues were in arrears as at March 31, 2013 for a period of more than six months from the
date they became payable.
(b) According to the information and explanations given to us, there is no disputed amounts
payable in respect of Wealth tax. The following dues of Income tax, Excise duty, Customs duty,
Sales tax and Service tax have not been deposited by the Company on account of disputes:
Name of the Statute

Nature of the dues

Amount

Period

to Forum

where

unpaid * which

the dispute

is

(Rs.

in amount

millions)

pending

relates
(Assessment

The Income Tax Act, Income

Tax

and 31,968

1961
interest demanded
The Income Tax Act, Income Tax and 26
1961

interest demanded

year)
2001-02
2007-08
2008-09

to High Court **
Income
Appellate

Page 28

Tax

VIVEK COLLEGE OF COMMERCE

and 8,164

2009-10

Tribunal
Dispute

The Income Tax Act, Income

Tax

1961

interest

demanded

Resolution

(based

on

Pannel ***

draft

assessment order)
State Sales Tax/VAT Sales tax, interest 617

1986-87

and CST (pertaining and

2007-08

penalty

to various states)
demanded
State Sales Tax/VAT Sales tax demanded

366

and CST (pertaining

2009-10

to various states)
State Sales Tax/VAT Sales

tax

and 31

and CST (pertaining penalty demanded


to

1986-87

1999-00
2006-07

to Appellate
Authorities
to Appellate
Tribunal
to High

court

Supreme court

Kerala,

Karnataka

and

Andhra Pradesh)
The Central Excise Excise

duty 58

1997-98

Act, 1944
demanded
The Central Excise Excise

duty 22

2010-11
2004-05

Authorities
CESTAT

Act, 1944
The Customs

duty, 301

1994-95,

Appellate

1997-98,

Authorities

demanded
Act, Customs

1962

interest and penalty

to Appellate

demanded
Act, Customs duty and 4

2001-10
1991-92

1962
The Customs

penalty demanded
Act, Customs
duty 40

2006-07
1990-98

1962
The Finance

demanded
Act, Service

tax 108

2005-06
2003-04

Supreme court
to Appellate

1994 - Service tax


demanded
The Finance Act, Service

tax 407

2007-08
2002-03

Authorities
to CESTAT

The

Customs

to CESTAT
and High

court

1994 - Service tax


demanded
2009-10
* The amounts paid under protest have been reduced from the amounts demanded in arriving at
the aforesaid disclosure.
** No subsequent demand has been raised as the matter is pending with High Court based on
appeals filed by the department.

Page 29

VIVEK COLLEGE OF COMMERCE


*** Pending directions from Dispute Resolution Panel, the Company has not received any
demand for payment.
(x) The Company does not have any accumulated losses at the end of the financial yearend has
not incurred cash losses during the financial year and in the immediately preceding financial year.
(xi) In our opinion and according to the information and explanations given to us, the Company
has not defaulted in repayment of dues to its banks. The Company did not have any outstanding
dues to any financial institutions or debentures holders during the year.
(xii) The Company has not granted any loans and advances on the basis of security byway of
pledge of shares, debentures and other securities.
(xiii) In our opinion and according to the information and explanations given to us, the Company
is not a chit fund / nidhi / mutual benefit fund / society.
(xiv) According to the information and explanations given to us, the Company is not dealing or
trading in shares, securities, debentures and other investments.
(xv) I n our opinion and according to the information and explanations given to us, the terms and
conditions on which the Company has given guarantees for loans taken by others from banks or
financial institutions are not prejudicial to the interest of the Company.
(xvi) I n our opinion and according to the information and explanations given to us, the term loans
taken by the Company have been applied for the purposes for which they were raised.
(xvii) According to the information and explanations given to us and on an overall examination of
the balance sheet of the Company, we are of the opinion that the funds raised on short-term basis
have not been used for long-term investment.
(xviii) The Company has not made any preferential allotment of shares to companies/firms/
parties covered in the register maintained under Section 301 of the Act.
(xix) The Company did not have any outstanding debentures during the year.
(xx) The Company has not raised any money by public issues during the year.
(xxi) According to the information and explanations given to us, no fraud on or by the Company
has been noticed or reported during the course of our audit.
Page 30

VIVEK COLLEGE OF COMMERCE


for BSR & Co.
Chartered Accountants
Firm's Registration No.: 101248W
Supreet Sachdev
Partner
Membership No.: 205385
Bangalore
June 21, 2013

CONSOLIDATED AUDITORS REPORT OF WIPRO LTD 2012 - 13


INDEPENDENT AUDITORS' REPORT
To the Board of Directors on the Consolidated Financial Statements of Wipro Limited and
Subsidiaries
We have audited the accompanying consolidated financial statements of Wipro Limited ('the
Company') and subsidiaries (collectively called 'the Group'), which comprise the balance sheet as
at 31 March 2013, the consolidated statement of profit and loss and the consolidated cash flow
statement for the year then ended, and a summary of significant accounting policies and other
explanatory information.
Management's responsibility for the consolidated financial statements

Page 31

VIVEK COLLEGE OF COMMERCE


Management is responsible for the preparation of these consolidated financial statements that give
a true and fair view of the consolidated financial position, consolidated financial performance and
consolidated cash flows of the Group in accordance with the requirements of Accounting Standard
21, Consolidated Financial Statements and Accounting Standard 23, Accounting for Investments
in Associates in Consolidated Financial Statements, issued by the Institute of Chartered
Accountants of India ('ICAI'). This responsibility includes the design, implementation and
maintenance of internal control relevant to the preparation and presentation of the consolidated
financial statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditors' responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our
audit. We conducted our audit in accordance with the standards on auditing issued by the Institute
of Chartered Accountants of India. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the consolidated financial statements. The procedures selected depend on the
auditors' judgment, including the assessment of the risks of material misstatement of the
consolidated financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal control relevant to the Company's preparation and fair presentation
of the consolidated financial statements in order to design audit procedures that are appropriate in
the circumstances. An audit also includes evaluating the appropriateness of accounting policies
used and the reasonableness of the accounting estimates made by management, as well as
evaluating the overall presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion.
Opinion
In our opinion and to the best of our information and according to the explanations given to us,
the consolidated financial statements give a true and fair view in conformity with the accounting
principles generally accepted in India:
Page 32

VIVEK COLLEGE OF COMMERCE


a) In the case of the consolidated balance sheet, of the state of affairs of the Group as at 31
March 2013;
a) In the case of the consolidated statement of profit and loss, of the profit of the Group for
the year ended on that date; and
b) In the case of the cash flow statement, of the cash flows of the Group for the year ended
on that date.
Emphasis of matter
Without qualifying our opinion, we draw attention to note 29 to the consolidated financial
statements that describes the principles of Accounting Standard (AS) 30, Financial Instruments:
Recognition and Measurements, followed by the Company, which has not currently been notified
by the National Advisory Council for Accounting Standards pursuant to the Companies
(Accounting Standards) Rules, 2006 as per Section 211(3C) of the Companies Act, 1956. Had the
Company not followed the principles of AS 30, the profit after taxation for the year ended 31
March 2013 would have been lower by 896 million.

BIBLIOGRAPHY
www.wipro.com
http://www.indiainfoline.com/Markets/Company/Background/CompanyProfile/Wipro-Ltd/507685

Page 33