Wipro and Infosys are two very important names in the Indian IT industry. Both companies have been active in technology services for the last several decades and now have a strong presence at the global level. Infosys is today considered a leader in modern technologies like AI, cloud and digital transformation, while Wipro is also expanding rapidly in these areas.
In this case study, Wipro and Infosys will be compared on the basis of their business model, financial performance and future growth strategies, so that it becomes clear which company is ahead.
Company Overview – Wipro
Wipro’s story is one of growing from a domestic oil company to a global IT leader. It was founded in 1945 in Amalner, Maharashtra, when it manufactured vegetable oil under the name “Western India Vegetable Products”. When Azim Premji took over the reins of the company in 1966, he completely changed its direction. In the 1980s, it took its first step towards the IT sector and in 1981, India’s first minicomputer was developed. Within a few years, in 1982, its name was changed to Wipro Limited and in 1999 it became one of the few Indian IT companies to be listed on the New York Stock Exchange.
Global Presence and Leadership : Wipro is headquartered in Bengaluru and today its services are spread across more than 65 countries. By 2024, more than 2.3 lakh people worked for the company, of which about 37% are women. Talking about leadership, Srinivas Palia is its CEO since April 2024, who is leading the transformation phase of the company.
Business Model
Wipro’s operations are divided into four major segments in which the company shows its expertise:
- IT Services : Services like software development, IT consulting and system integration.
- Cloud and Infrastructure : Cloud migration, management and security solutions.
- Digital Transformation : Providing end-to-end solutions to companies for digital transformation.
- Consulting : Providing strategic advice while balancing both business and technology.
Wipro’s revenue in the financial year 2023-24 was around $ 11 billion, with more than 99% coming from IT services.
Strategic Acquisitions
To expand globally and adopt new technologies, Wipro has made several key acquisitions over the past few years:
- Capco (2021) : Strengthened its foothold in financial services consulting
- Appirio (2016) : Rapidly expanded cloud computing capabilities
- Designit (2015) : Added design-focused services
Wipro’s journey is an example of a classic business transformation where the company not only transformed itself by shifting from traditional industry to technology, but also created a strong identity in the global IT world. On the strength of a vision, right decisions and continuous innovation, Wipro is today counted among the most trusted IT companies in India.
Company Overview – Infosys
Infosys was founded in 1981 by just seven engineers, with an initial capital of just ₹10,000. At that time, no one had any idea that this small startup would one day be counted among the largest IT companies in the world. In 1999, Infosys created history by getting listed on NASDAQ and today the company is providing its services in 56+ countries.
Global presence and leadership : Infosys’ headquarters in Bengaluru leads global operations today. As of 2024, the company employs more than 3.43 lakh people, of which more than 40% are women. Salil Parekh is currently the CEO of the company and under his leadership, Infosys is constantly setting new records of growth.
Business Model
Infosys’ business model focuses on both technology and consulting. The company provides customized IT solutions to global clients in the B2B segment, which includes four key services:
- IT Consulting and Strategy: Providing advice and solutions to automate and optimize business processes.
- Application Development and Management: Creating and maintaining software based on client needs.
- Infrastructure Services: Managing cloud migration, secure networks, and IT operations.
- Outsourcing Services: Outsourcing services related to BPO, finance, and HR.
Infosys’ total revenue in FY 23-24 was around $19.11 billion, with more than 95% of revenue coming from these technology services.
Acquisitions and Innovation
Infosys has always been at the forefront of innovation and technology. To further strengthen its portfolio, it has made some important acquisitions:
- Skava: To gain expertise in digital commerce and mobile app development
- Panaya: To improve ERP system testing and automation
- BASE life science (2022): To increase the reach of the life science sector in Europe
The company also launched its own innovative products such as:
- Finacle: Core banking solutions for the banking sector
- Infosys Nia: Business automation tools based on artificial intelligence
Infosys’ journey starts from a small dream to becoming a global brand. Behind this is a clear vision, innovation in technology, and strong leadership team. Today, Infosys is not just an IT company, but a platform that is taking businesses around the world towards the digital future.
Comparative Analysis: Wipro Vs Infosys
| Particulars | Wipro | Infosys |
|---|---|---|
| Current Price (₹) | 266 | 1,622 |
| Market Cap (₹ Crores) | 2,79,180 | 6,73,751 |
| 52-W High (₹) | 325 | 2,007 |
| 52-W Low (₹) | 225 | 1,307 |
| FII Holdings as of March 2025 | 11.13% | 29.4% |
| DII Holdings (as of March 2025) | 7.47% | 34.46% |
| Book Value (₹) | 79.1 | 231 |
| PE Ratio | 21.3 | 25.3 |
Read Also: Infosys vs TCS: A Comparative Analysis of IT Giants
Financial Statements Analysis
Income Statement Comparison
| Particulars | Wipro | Infosys |
|---|---|---|
| Total Income | 92,972 | 1,66,590 |
| Total Expenses | 74,025 | 1,28,566 |
| EBIT | 18,947 | 38,024 |
| Net Profit | 13,192 | 26,750 |
Balance Sheet Comparison
| Particulars | Wipro | Infosys |
|---|---|---|
| Reserves & Surplus | 80,269 | 93,745 |
| Current Liabilities | 28,625 | 42,850 |
| Current Assets | 77,777 | 97,099 |
| Other Assets | 37,059 | 30,135 |
Cash Flow Statement Comparison
| Particulars | Wipro | Infosys |
|---|---|---|
| Cash Flow from Operating Activities | 16,942 | 35,694 |
| Cash Flow from Investing Activities | -8,073 | -1,946 |
| Cash Flow from Financing Activities | -6,396 | -24,161 |
Key Performance Ratios (KPIs)
| Particulars | Wipro | Infosys |
|---|---|---|
| Operating Profit Margin (%) | 21.26 | 23.32 |
| Net Profit Margin (%) | 14.80 | 16.41 |
| ROE (%) | 15.94 | 27.87 |
| ROCE (%) | 19.03 | 35.85 |
| Debt to Equity (x) | 0.20 | 0.00 |
Read Also: TCS vs Wipro: Comparison Of Two IT Giants
Future Plans of Wipro
Future business plans of Wipro are listed below:
- Restructuring of business model : In 2025, Wipro has revised its global business structure. Now the company has divided its services into four major units – technology services, consulting, engineering and business process services. Its aim is to provide more specialized and quick service to its clients.
- Focus on innovation and research : A 60,000 square feet ‘Wipro Innovation Network’ center has been launched in Bengaluru, where research is being done on future technologies like AI, blockchain, quantum computing and cyber security. The company believes that quantum computing can be used commercially by the end of 2025.
- International partnerships : Wipro has recently signed a £500 million deal with Phoenix Group (UK). Apart from this, a multi-year contract has been signed with US cyber security company Entrust to develop security solutions.
- Emphasis on talent development : Wipro plans to hire more than 10,000 freshers by FY26. The company is adopting a ‘Train-Then-Hire’ model, where youth will first be taught skills and then hired. This will create a quality talent base.
- Investment in healthcare sector : Wipro has announced an investment of $960 million in India in collaboration with GE Healthcare. The funds will be used to manufacture PET CT scanners and other advanced medical devices.
All these initiatives clearly show that Wipro wants to make itself a future-ready IT leader in the coming years on the basis of technology, innovation, talent and global deals.
Read Also: SAIL Vs Tata Steel: Which is Better?
Future plans of Infosys
Future business plans of Wipro are listed below:
- Focus on global expansion : Infosys is constantly expanding its international footprint. In 2025, the company has announced new delivery centers and innovation hubs in markets like Canada, Europe and the US. Its aim is to connect more deeply with local clients and strengthen the ‘near-shore’ model.
- Investment in AI and generative technology : Infosys launched its in-house generative AI platform Topaz in 2024, and in 2025 it is being used extensively in client projects. The company is focusing on making business processes smarter through AI, automation and machine learning.
- Big deals and long-term projects : Recently Infosys has signed a 5-year deal worth €454 million with Danske Bank (Denmark). Apart from this, a mega AI and cloud-based project is also being worked on with Liberty Global, which will stabilize the company’s long-term revenues.
- Human Capital Development : Infosys continues to maintain its fresher-friendly approach in 2025 as well. The company aims to train millions of young students through Infosys Springboard and Lex Platforms, so that they can be prepared for the digital age. Also, internal employees are also being trained in new technologies under the company’s “Reskill and Redeploy” program.
- Healthtech and Sustainability Initiatives : Infosys is now also moving into the healthtech and green energy sector. The company aims to become carbon neutral by 2025 and has invested towards operating its data centers with green energy. Apart from this, there is also an emphasis on developing AI-supported solutions for healthcare clients.
Infosys’ strategy is clear: through global expansion, AI-focused innovation, long-term deals and skill development, the company is preparing itself for future challenges.
Who is Better: Wipro or Infosys?
Both Infosys and Wipro are moving in different directions in 2025. Infosys is focusing on AI and international client deals, while Wipro has adopted a new global business strategy and is focusing on developing new technologies through innovation centers. While Infosys is focusing on long-term solutions and skill development, Wipro is entering new sectors like healthcare and quantum technology. Who is better depends on how well these companies can execute their business plans in future. Furthermore, investors should conduct a thorough fundamental analysis and consider their risk profile before investing in any of these shares.
Read Also: Bajaj Finserv and Bajaj Finance: Which is Better?
Conclusion
Both Wipro and Infosys have been strong players in the technology industry for a long time. While Infosys has managed to maintain stable growth through its client network and digital solutions, Wipro seems to be proactive in constantly changing and exploring new areas. Both these companies have adapted to the changing technology landscape in different ways. One is growing rapidly, while the other is reshaping its business model to prepare for the future. It is difficult to decide who will come out ahead due to which it would be wise to consult a financial advisor before investing.
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Frequently Asked Questions (FAQs)
Which company has higher revenue, Wipro or Infosys?
Both Wipro and Infosys have good earnings, but Infosys has had higher revenue in recent years.
Which company is better in AI technology?
Infosys has invested heavily in AI technology and their generative AI platform is much talked about.
Is Wipro investing in new sectors?
Yes, Wipro is active in new areas like healthcare and quantum technology.
Who has a larger global presence?
Infosys’ global network is considered to be larger than that of Wipro.
Which company focuses more on employee skill development?
Both companies are working on skill development, but Infosys’ programs are on a larger scale.
