B D Narayankar's questions to Wipro Ltd (WIT) leadership • Q1 2026
Question
B D Narayankar of United News of India asked about the levers that helped expand operating margins despite a revenue decline, the sustainability of strong operating cash flow, and how the company balances capital returns with AI investments.
Answer
CFO Aparna Iyer attributed the margin expansion to operational excellence, including productivity gains, overhead optimization, and favorable forex. She stated the company aims to continue converting at least 100% of net income to cash. She also explained that the capital allocation policy provides substantial flexibility to return cash to shareholders while maintaining a strong balance sheet ($6.2B gross cash) for strategic investments.