Wipro is evaluating options to sell off its water business and sharpen focus on existing revenue streams. Wipro entered the water business in 2008 through the acquisition of water treatment firm Aquatech and executes water treatment projects for large industrial customers that include United Breweries (UB), PepsiCo and Coca Cola. Investment in this business started with the sustainability theme but in the past few years the company has seen significant competition with several large, established players in this field so it is now focusing on other areas. While there is no formal proposal with the Wipro board yet, and discussions with potential buyers have not reached a final stage, the deliberations are part of the group’s strategy to streamline businesses and ensure focus on growing units.
IT services make up for over 75% of Wipro’s revenues, the balance comes from several other businesses including Wipro consumer care and lighting, eco-energy and hardware products. Spreading itself too thin and entering too many non-IT related areas may not pay off in the long run.
Wipro has also restructured its IT business in the past few months after it disbanded its joint-CEO model and announced a more verticalised structure that would make it swifter and more agile. In the past three years Wipro has often articulated its ambition of becoming a “one-stop-shop” in the water purification and treatment business and counts global majors like GSK Pharma and Coca-Cola amongst customers.
| Company Name | CMP |
|---|---|
| TCS | 4077.25 |
| Infosys | 1834.20 |
| HCL Tech. | 1836.10 |
| Wipro | 557.20 |
| Tech Mahindra | 1701.30 |
| View more.. | |
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