Wipro's outgoing CFO Suresh Senapathy spoke to CNBC-TV18's Manasvi Ghelani on the application for bank licences and the challenges he faced.
Here's the excerpt of the interview.
Q: On bank licences…
A: V Balakrishnan has spoken to you guys in terms of the opportunity that it has. At this point in time it is just an application for the licence. Clearly but there is seriousness about what we want to do I hope we will get the licence. So, I do not think we can talk about much more in terms of what we should be doing after we get it. All this is contained in the application and hopefully we will get out positive response.
Q: Also a lot of talks about rejig in the system is going on. Can you give us a sense on where that is and if that status is really to on those reports?
A: I do not know from where did you hear about rejig. As far as rejig is concerned it is a usual process. I do not think there is something disruptive you are talking about. Something which typically at the end of the year we are talking about based on certain initiatives that undertake in horizon 1, horizon 2 and horizon 3 so those are the process that goes on. As we become former particularly this is the planning period that we do. So in April we talk about to press on earnings and go forward outlook we will talk about it.
Q: So a lot of talks about Rashid Premji being a part of this, is true?
A: He is already a part of Wipro in our strategy as well as M&A.
Q: Will there be a change of this role?
A: It has changed over the last several years since he has been in the Wipro. He was part of the financial services and then he became the team member of industrial relations now he is heading the strategy and M&A. Everybody goes through role changes I am sure he will go through but I do not think there is anything in the immediate short-term that is being contemplated except post my retirement of course investor relation and government advocacy also would report to him. So those are the role changes anywhere already talked about.
Wipro stock price
On February 10, 2015, Wipro closed at Rs 643.25, down Rs 5.05, or 0.78 percent. The 52-week high of the share was Rs 654.45 and the 52-week low was Rs 475.35.
The company's trailing 12-month (TTM) EPS was at Rs 34.04 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 18.9. The latest book value of the company is Rs 118.90 per share. At current value, the price-to-book value of the company is 5.41.
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