So what kind of opportunities, Wipro will explore in the current situation? Is there any enterprise value in mind?
Our choice has not changed in the kind of companies
we are looking at. But we have always been competing, apart from the strategic players, with the private equity firms as well. We are looking at investments which are good but impacted by the market downturn. M&A is also a good opportunity in the current time but this doesn't mean that we go out and take a large acquisition for the sake of it. It will be a balanced approach and will be the right call for the organisation. What we intend to convey was the things we wanted to do are more affordable now than six months back.
But given the environment, will there be cost optimisation moves?
Absolutely. We are looking at costs as if our lives depend on it. If one is witnessing a revenue reduction which will happen, the only way to respond is to reduce the costs. We have three priorities- revenue maximisation and market share gain, second is cost optimisation and third is retaining talent.
So, you see revenue contraction as a possibility in FY21?
It is something we cannot rule out at present.
Are you factoring in that second half of FY21 may be better than the first half of this fiscal?
We really don't know when the situation will stabilise. We are not sure whether the peak-level of Covid-19 cases have already been reached or will it be touched in the future. Similarly, in developed countries like the U.S. and Europe, they have reached peak levels. We should have a clear sense of how things will pan out by the end of the April-June period end. It's too early right now.
What is your take on leadership transition? Will it be deferred given the current environment?
Some of the situations can't be controlled. CEO departure is an independent decision of (Abidali Neemuchwala)based on personal circumstances and subsequently, Covid-19 is also something which is out of our control. But Abid is in absolute control of the day-to-day operations and will be till his last day whenever that happens. We see ourselves working as a team and we are on every minute basis led by Abid.