Ratio Analysis

LKP Shares & Securities Ltd. Wipro Ltd. Q4FY03 Result Update Industry Company P/E commercialize Cap. (Rs) : Information Technology : 21.5x : 201.6mn BSE code 52-Week H/L Daily traded volume (52 wk) Company Update Rs 867 Sell : 507685 / 3007685 : Rs1688 / Rs832 : 255000 / 540000 Financials Wipro Q4FY03 results: Wipros global engineering segment posted 6.5% sequential increase in revenues largely on account of ramp up with existing customers and integration of world(a) Energy Practice of AMS Inc and R&D Labs of Ericsson with itself. However the PBIT declined , by 8.1% sequentially mainly collect to 2.3% fall in seaward billing rates, near 1% rupee appreciation during the withdraw and charge of certain acquisition related costs. The company witnessed about 400 origination points decrease in operating margins due to severe pricing pressure from its customers. For the full year, the revenues of the global technology division increased 25%, whereas EBIT growth was marginal at 2.6%. The company added 120 new customers during FY03 (including 44 in Q4FY03), except the major part of growth was contributed by ramp up with customers added during the previous year. The customers added during the year contributed just 9% of the revenues.

The increase in business with existing customers was accompanied by much cut down pricing as the customers demanded price renegotiations due to economic downswing faced by them, which led to over 500 basis points decline in operating margins during FY03. (Rs mn) Sales Turnover PBIT APAT RPA T EPS Q4FY03 12377 2602 Q4FY02 % gr Q3FY03 q-o-q gr 9406 31.6 11079 11.7 2305 12.9 2504 3.9 2327 2312 0.6 2365 -1.6 2254 2312 -2.5 2307 -2.3 9.7 9.9 -2.5 9.9 -2.3 Future Growth Outlook Strong client addition during FY03 nonetheless to contribute to growth: Wiipro added 120 new customers during FY03, however their ploughshare to total revenues during the year was low at 9%. This gives an interpretation of very long decision-making process by the clients after the... If you necessity to get a full essay, order it on our website: Ordercustompaper.com

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