Wipro, the $5 billion company with interests in IT services, consumer care, lighting and furniture, is entering a new set of businesses which will enable the company to leverage its growth on the clean energy and agriculture sectors.
The company is readying a plan to include alternate energy, water treatment, food and agriculture businesses under its infrastructure business - Wipro Infrastructure Engineering Limited.
Wipro Infrastructure Engineering Limited is primarily focussed on delivering hydraulic cylinders, components and solutions to global original equipment manufacturers in the infrastructure space.
Wipro has been in the hydraulic cylinder business for about 30 years and commands a market share of around 70 per cent in this category.
According to analysts, by diversifying into emerging areas such as clean energy, food processing and agricultural solutions, the company is able to cover a broader area and thus protect itself from market fluctuations.
Following the acquisition of Mumbai-based Aquatech Industries this year, Wipro has already made its intent clear to be an active player in the water business.
The buy has equipped Wipro with capabilities to provide complete water treatment solutions including process, plant, equipment and services for all types of industries. Aquatech is also a dominant player in the high purity water segment for the pharmaceutical industry, which will be an added advantage for Wipro.
Wipro Water, the new business division within WIL, aims to become a global player by becoming a 'one stop shop' for all water needs of the customers, including waste water, reuse and desalination.
"We have already made some inroads for the water business following the recent acquisition of Acqatech, and would be concentrating on the ultra pure segment by serving the pharmaceuticals and industrial businesses. The clean energy division is in a concept stage and we are considering what all we can provide to the customers. We have already started building the team," said Anurag Behar, managing director, Wipro Infrastructure Engineering.
Behar also clarified the company's plan to foray into providing equipment and solutions for the agriculture and food processing industries.
As a part of its focus on renewable energy, the company is building a core team of engineers in the fields of solar, wind turbines, biogas/biofuel and geothermal. Leveraging its expertise in manufacturing, the company aims to manufacture equipment which will equip the companies operating in this sector.
Wipro Infrastructure Engineering had reported a revenue of Rs 1,200 crore (Rs 12 billion) in the previous financial year, with an annual growth rate of 78 per cent.
