Wipro Streamlines Operations: Hungarian Subsidiary Liquidated as Company Secures Major Saudi Contract

1 min read     Updated on 25 Jul 2025, 04:26 PM
scanxBy ScanX News Team
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Overview

Wipro Limited has voluntarily liquidated its Hungarian subsidiary, Wipro Holdings Hungary Korlátolt Felelősségű Társaság, effective July 23, 2025, as part of its effort to rationalize its group structure. The subsidiary had no operational revenue and represented 0.02% of Wipro's net worth. Additionally, Wipro has won a multi-year strategic contract from Saudi Electric Company – National Grid SA to implement a Smart Meter Data Management system for the transmission network. This project aims to modernize the client's meter data platform, enhance operational efficiencies, and improve risk management, aligning with Saudi Arabia's Vision 2030.

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*this image is generated using AI for illustrative purposes only.

Wipro Limited (BSE: 507685, NSE: WIPRO, NYSE: WIT), a leading global technology services and consulting company, has made significant moves to optimize its corporate structure while expanding its international presence.

Hungarian Subsidiary Liquidation

Wipro Holdings Hungary Korlátolt Felelősségű Társaság, a stepdown subsidiary of Wipro Limited, has been voluntarily liquidated effective July 23, 2025. The liquidation was confirmed by the Hungary Court of Registration on July 25, 2025, as part of an effort to rationalize and consolidate the overall group structure.

The subsidiary had no revenue from operations as of March 31, 2025, with other income of Rs. 29,443,046.00 and a net worth of Rs. 185,766,178.00, representing 0.02% of the parent company's net worth. This move aligns with Wipro's strategy to streamline its global operations and enhance operational efficiency.

Major Contract Win in Saudi Arabia

In a separate development, Wipro has secured a multi-year strategic contract from Saudi Electric Company – National Grid SA. The company will implement a Smart Meter Data Management (MDM) system for the transmission network, aimed at modernizing the client's meter data platform, enhancing operational efficiencies, and improving risk management.

Vinay Firake, CEO – Asia Pacific, India, Middle East & Africa (APMEA) at Wipro Limited, expressed enthusiasm about the project, stating, "We are excited to build a long-standing relationship with National Grid SA and are dedicated to assisting them in navigating the evolving energy landscape."

Smart Grid Implementation

The MDM system will play a crucial role in improving grid stability through continuous monitoring, providing real-time data on power flow, voltage, and equipment. Key benefits of the implementation include:

  • Improved grid planning through intelligent forecasting and reporting
  • Proactive maintenance and faster fault identification
  • Enhanced visibility of energy usage patterns
  • Optimized power dispatch and reduced operational costs
  • Minimized outages, leading to better end-user experiences

This project aligns with Saudi Arabia's Vision 2030, contributing to the Kingdom's innovation and digitalization ambitions in the energy sector.

Wipro's Global Presence

With over 230,000 employees and business partners across 65 countries, Wipro continues to strengthen its position as a leading AI-powered technology services and consulting company. The company remains focused on building innovative solutions that address clients' complex digital transformation needs across various industries and geographies.

As Wipro navigates the ever-changing technological landscape, these strategic moves—both in terms of internal restructuring and expanding its global footprint—demonstrate the company's commitment to growth, efficiency, and delivering value to its clients and shareholders alike.

Historical Stock Returns for Wipro

1 Day5 Days1 Month6 Months1 Year5 Years
-1.01%-2.90%-3.79%-15.83%+2.28%+92.81%

Wipro Secures Multi-Year Smart Meter Contract from Saudi National Grid, Reports Q1 Results

1 min read     Updated on 24 Jul 2025, 09:36 PM
scanxBy ScanX News Team
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Overview

Wipro Limited has won a multi-year strategic contract with Saudi Electric Company - National Grid SA to implement a Smart Meter Data Management system. The project aims to enhance grid stability, improve operational efficiencies, and optimize power dispatch. Wipro will design, develop, and support the infrastructure and smart applications for the new system, which is expected to contribute to Saudi Arabia's Vision 2030. In its recent Q1 results, Wipro reported a 2% sequential revenue decline, 17.5% margins, and a 24.1% increase in total bookings to $4,971 million.

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*this image is generated using AI for illustrative purposes only.

Wipro Limited , a leading technology services and consulting company, has announced a significant multi-year strategic contract with Saudi Electric Company - National Grid SA. The deal involves implementing a Smart Meter Data Management (MDM) system for the transmission network, aimed at modernizing the client's meter data platform.

Smart Grid Implementation

The contract will see Wipro design, develop, implement, and support the infrastructure and smart applications for the new MDM system. This system is expected to enhance grid stability through real-time data monitoring of power flow, voltage, and equipment data. The implementation aims to improve grid planning through intelligent forecasting and reporting, enabling proactive maintenance, faster fault identification, and enhanced visibility of energy usage patterns.

Vinay Firake, CEO – Asia Pacific, India, Middle East & Africa (APMEA) at Wipro Limited, expressed enthusiasm about the project, stating, "We are excited to build a long-standing relationship with National Grid SA and are dedicated to assisting them in navigating the evolving energy landscape." He emphasized Wipro's commitment to contributing to projects essential to Saudi Arabia's Vision 2030 and helping the Kingdom realize its innovation and digitalization ambitions.

Benefits for National Grid SA

The smart meter data management system is expected to bring several benefits to National Grid SA, including:

  • Improved grid stability
  • Enhanced operational efficiencies
  • Better risk management
  • Optimized power dispatch
  • Reduced operational costs
  • Minimized outages

These improvements are anticipated to lead to optimal experiences for end users of the Saudi electric grid.

Q1 Financial Results

In its recent quarterly results, Wipro reported:

Metric Result
Revenue decline 2.00% sequentially in constant currency terms
Margins 17.50%
Total bookings $4,971.00 million (24.10% increase)

Following the announcement of these results, Wipro's American Depositary Receipts (ADRs) gained nearly 4% on Wall Street. Morgan Stanley maintained an equal-weight rating on Wipro while raising the target price from ₹265.00 to ₹285.00.

Market Performance

Wipro shares closed flat at ₹261.90 on the Bombay Stock Exchange (BSE) following the announcements.

This new contract with Saudi Electric Company - National Grid SA demonstrates Wipro's continued focus on leveraging its technological capabilities and domain expertise in the energy sector to drive digital transformation and support sustainable business practices globally.

Historical Stock Returns for Wipro

1 Day5 Days1 Month6 Months1 Year5 Years
-1.01%-2.90%-3.79%-15.83%+2.28%+92.81%
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