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:

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.

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), 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, marking a major step towards modernizing Saudi Arabia's power infrastructure.

Contract Details

The contract focuses on modernizing the meter data platform and enhancing operational efficiencies for National Grid SA. Wipro will be responsible for designing, developing, implementing, and supporting the infrastructure and smart applications for the new MDM system.

Smart Grid Benefits

The Smart Meter Data Management system is set to bring several advantages to Saudi Electric Company's operations:

• Real-time Monitoring: The system will provide real-time data on power flow, voltage, and equipment status through continuous monitoring.
• Grid Stability: Improved monitoring capabilities are expected to enhance overall grid stability.
• Intelligent Forecasting: The implementation will enable better grid planning through intelligent forecasting and reporting.
• Proactive Maintenance: The system will support proactive maintenance and faster fault identification.
• Energy Usage Visibility: It will provide enhanced visibility of energy usage patterns.

Operational Improvements

The implementation of this smart grid technology is anticipated to yield significant operational benefits for National Grid SA:

• Optimization of power dispatch
• Reduction in operational costs
• Minimization of outages
• Improved end-user experience

Strategic Importance

Vinay Firake, CEO of Asia Pacific, India, Middle East & Africa at Wipro, emphasized the strategic importance of this project. He stated, "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." Firake also highlighted Wipro's commitment to contributing to projects that are essential to Saudi Arabia's Vision 2030, supporting the Kingdom's innovation and digitalization ambitions.

Wipro's Expertise

Wipro brings to the table its deep domain expertise in the energy sector, coupled with smart solutions and advanced technological capabilities. The company, with over 230,000 employees and business partners across 65 countries, is well-positioned to deliver on this complex and transformative project.

This contract not only strengthens Wipro's position in the Middle Eastern market but also showcases its capabilities in implementing cutting-edge smart grid solutions. As the energy sector continues to evolve, such projects are likely to play a crucial role in shaping the future of power distribution and management globally.