Large Enterprises will contribute significantly to India's Digital Future. Transport and Hospitality leads among all verticals in terms of profit and revenue contribution. To know more about where your organization stands and the steps it must take to be digital ready, write to us at info@zinnov.com

1. Large Enterprises : Transforming India's Digital Future
1

2. Large Enterprises contribute significantly to the business ecosystem in India
2
Note: All figures and data pertains to FY17 | 1denotes enterprises operating in India with HQ in India / outside India, and having a headcount of 1,000+ employees. The list includes private, PSUs/Government undertakings | 2Large
Enterprises listed on Bombay Stock Exchange (BSE)/National Stock Exchange (NSE) | 3Talent pool includes total number of employees working full-time/part-time/casual with an enterprise | (USD 1 = INR 65 approx.)
Source: VCSData, Zinnov Analysis of 1100+ Public Listed Indian Enterprises by Revenues in FY13-17
Snapshot of Large Enterprises in India
Large Enterprises1 in India
Public Listed Large
Enterprises2 in India
3.2-3.4k
1.1-1.3k
~40%USD 1.75Tn
Market Capitalization
(BSE)
Total revenues generated
compared to India’s GDP
~6Mn
Total Talent pool3
employed
Contribution
of Public
Listed Large
Enterprises

3. Consistent performance has led to a growth in Billion Dollar Enterprises
over the years
Source: Zinnov Analysis of top 1100+ Public Listed Indian Enterprises by Revenues in FY13-17
3
Regional Distribution of Public-listed Large
Enterprise by Headquarters
Note: Manufacturing includes Automotive, Industrial products, Chemicals, Metals, Electricals and Electronics, Textiles etc. | Others includes Media & Entertainment (2.4%), Telecom (1.5%), Mining & Trading (1.1%) and Education &
Publishing (0.8%) | (USD 1 = INR 65 approx.)
Region LE HQ
Revenue
contribution
in FY17
Key Verticals
West 46% 51%
North 24% 29%
South 22% 15%
East 8% 5%
40.1% 13.0% 11.0% 8.5% 6.9% 6.3% 4.9% 3.5% 5.8%
Manufacturing Real Estate & Construction Retail / CPG
BFSI Healthcare Energy & Utilities
IT/ITeS Transport & Hospitality Others
Vertical-wise Distribution of Public-listed Large Enterprises
5% Revenue Growth
2.5% Profit Growth
114 119 129 128 141
FY13 FY14 FY15 FY16 FY17
# of Billion Dollar Public-listed Enterprises (by Revenue)Performance of Public-listed Large Enterprises during FY’13-17

4. 141 ‘Billion Dollar’ firms reflect the overall state of Large Enterprises
Source: Zinnov Analysis of 141 Billion Dollar Public-Listed Indian Enterprises
4
Major
Ownership
67%
Private
sector
33%
Government
sector
10
Industry vertical
spread
9
Conglomerates
75%
of Total Revenues of
Large Enterprises*
65%
of total talent pool in
Large Enterprises*
60%
of total Market
Capitalization of
Large Enterprises*
Note: *denotes the Public-listed Large Enterprises

5. 2
2
2
6
5
9
12
8
27
33
2
2
1
2
3
7
6
1
1
2
2
1
2
1
1
1
USD 1 to 5Bn USD 5 to 10Bn USD 10 to 25Bn USD 25 to 50Bn USD 50+Bn
Billion Dollar Enterprises in Mfg, BFSI and Energy & Utilities are the largest
contributors to revenue and talent pool
Source: Zinnov Analysis of 141 Billion Dollar Public-Listed Indian Enterprises for FY’17
5
41
37
16
14
10
6
6
5
4
2
Revenue-wise Split
~Talent pool
(Mn)
0.62
0.10
1.17
0.11
0.31
0.17
0.36
0.97
0.05
0.03
#
Manufacturing
BFSI
Energy & Utilities
Retail / CPG
Real Estate &
Construction
Mining & Trading
Healthcare
IT/ITeS
Telecom
Transport &
Hospitality
Verticals
~Revenue
(USD Bn)
161.0
9.3
172.8
25.8
37.2
201.0
15.8
38.5
17.4
6.4
Note: Talent pool includes total number of employees working full-time/part-
time/casual with an enterprise
106 23 7 4 1

6. However, Transport & Hospitality followed by IT/ITeS, Healthcare and Retail,
lead in the growth metrics
Source: Zinnov Analysis of 141 Billion Dollar Public-Listed Indian Enterprises
6
Average Revenue /
Enterprise
(Bubble size)
Industry-wise
Productivity
(Bubble color) Low HighMedium
Real Estate &
Construction
Telecom
BFSI
Retail / CPG
Healthcare
IT/ITeS
Mining &
Trading
Energy &
Utilities
Manufacturing
Transport &
Hospitality
0
Revenue Growth
during FY’13-17 (%)
Profit
Growth
during FY’13-
17 (%)
(+)
(-)
(+)
Sluggish
Strivers
Nimble
Note: Revenue and Profit Growth pertains to the period FY’13-17 | Productivity is calculated as
Industry revenues divided by total talent pool employed within industry
Low
High
Medium

7. A triple play of opportunities exists for the Large Enterprises to capitalize
upon
Source: News reports, TradingEconomics, Ministry of Commerce, GoI, Nielsen Consumer Confidence Index 2017, #BCG’s Centre for Customer Insight report 2017
7
Note: *Nielsen Consumer Confidence Index measures the perceptions of local job prospects, personal finances, immediate spending intentions and related economic issues of online consumers around the world
(Beneficiary verticals)
Government
Policies
Consumer
Growth
International
Expansion
(Telecom, IT/ITeS) (Manufacturing) (Transport & Hospitality,
Real Estate & Construction)
Other Initiatives (illustrative)
• UDAN scheme for regional
connectivity (Transport & Hospitality)
• Banking reforms (BFSI)
• Price-capping of essential drugs
(Healthcare)
12% y-o-y growth in
consumer expenditure,
India to be 3rd largest
consumer market by 2025 #
India ranks 1st globally in
Consumer Confidence
Index*
2nd largest population in the
world with over 60% of them
in working age bracket
(Real Estate &
Construction, Telecom,
Manufacturing)
Favourable Trade Conditions
• India has signed Free Trade Agreements
(FTA) and Bilateral Investment Treaties
(BIT) allowing trade and investment
with 70+ nations
Rising Export Hub
• India’s exports in FY17 doubled to
~$275Bn within the last decade
• Key exports: Petroleum products,
engineering goods, pharmaceutical
products, gems & jewellery
• International business contributes 65% to Gitanjali’s and
70% to Sun Pharma’s revenues
• Jaguar Land Rover contributes prominently to Tata Motor’s
profits
• ONGC acquired 15% stake in Russian oil field Vankor for
$1Bn (2016) to secure energy interests of the nation
Growth, Profitability & Diversification

8. However, Competition poses a distinct challenge in Indian scenario
compared to developed economies
8
Source: News reports, Technology blogs, Zinnov Analysis
Lack of Skilled
Workforce
Managing
Omnichannel
presence
Rising input
costs
Customer
acquisition
Legislative &
environmental barriers
Operational
Challenges
Retail/CPG
Telecom, Media &
Entertainment
Transport & Hospitality
BFSI
IT/ITeS
SaaS enterprise
offerings
Tackling
Disruptions
E-commerce disruption
OTT
applications
e-wallets &
digital banks
Alternate to
conventional means
• From fast-growing domestic enteprises
• From leading MNC enterprises
Competition
Intrinsic Hurdles
• Regulations - e.g. Dodd Frank Act of 2010,
Repealing of Obamacare
• Stagnating Consumption – Flat / Declining
growth of population affecting conventional
consumption
• Dormant Innovation – Declining new product
portfolios/patents
• Geo-political Uncertainty- Affects long-term
decision making
India
USA

9. Enterprises
tackling
challenges
Infrastructure
Upgradation
New
Business
Models
Technology
Adoption
People
Operational
Efficiencies
To overcome the challenges, Large Enterprises are taking a five pronged
approach..
9
1
2
3
4
5
Hiring Key Talent with Niche
Capabilities
Streamlining Business
Processes, Improving
Communication and
Collaboration
Moving from Legacy to Modern Infrastructure
Driving Innovation in Business
through Technology
Diversifying Business
Operations to Generate
Additional Revenues

10. ..to get transformed as a modern digital enterprise
10
NEW AGE
ENTERPRISE
DIGITAL BUSINESS
MODELS
DIGITAL BUSINESS
OUTCOMES
Personized
Experience
New Revenue
Streams
Business Efficiency
Empowered
Workforce
Business Security &
Customer Privacy
Internet of
Things
Artificial
Intelligence
Robotic
Automation
Blockchain AR/VR
Near Zero
Interfaces
3D Printing
DIGITAL TECHNOLOGY
FOUNDATION
MODERN
INFRASTRUCTURE
Cloud Centric
Infrastructure
Data Lakes
Security Infrastructure
(MDM, End Point
Encryption)
High Performance
Compute Architecture
Software Defined
Infrastructures
Software Led Platformization Data Ecosystem
Co-Innovation With
Customer
DIGITAL
WORKLOADS &
RELEVANT
STAKEHOLDERS
Customer
Experience
Operational
Excellence
Workforce
Engagement
Risk Management &
Security
New Digital
Products and
Services
CMO | CDO | CAIO
CInO | CTO | CDO |
CAIO
COO | CIO | BU |
CDO
COO | CHRO | BU CRO | CIO

11. 141 Billion Dollar Large Enterprises will spend over USD 360 Mn by 2020
towards Enterprise Digital Transformation (EDT)
11
FY17 FY20 (E)
Rest of IT Digital Tech Enablement Enterprise Digital Transformation
➢ Enterprise digital transformation
spending forms ~11% of the
overall digital spends currently, rest
being constituted by investments
towards digital enablement
➢ BFSI, IT/ITeS, Manufacturing and
Retail/CPG, Energy & Utilities
verticals in India will constitute nearly
90%of the overall spends for EDT
by 2020
Source: Zinnov Analysis of 141 Billion Dollar Public-Listed Indian Enterprises
Enterprise Digital
Transformation
Spending
Enterprise Digital
Transformation
Spending
Indian Billion Dollar Enterprise Digital Transformation Spending
(USD Bn) and Growth (CAGR %)
9.6 10.2
0.95
1.440.12
0.36
Note: ‘Enterprise Digital Transformation’ - finding newer possibilities to maximize the customer experiences and operational efficiencies. It includes UI/UX Designing, Predictive Analytics, Connected systems, AI, RPA, IoT etc. | ‘Digital
Tech Enablement’ - overhauling of the existing IT infrastructure to enable digital use cases and execute data driven business processes. It includes Service Oriented Architecture, Big data Infrastructure, Analytics platforms, APIs, Data
Lakes etc. | ‘Rest of IT’ - creating infrastructure to manage, provide access to information and run business applications. It includes Operating systems, Hardware & Software support, Business Process Outsourcing (BPO), Cloud
infrastructure, Social media applications, BI and analytics applications, Sensors and Beacons, Identity Management etc.

12. Allahabad Bank
Andhra Bank
Axis Bank
Bajaj Finance
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of IndiaCorporation Bank
Dena Bank
DHFL
Federal Bank
HDFC Bank
HDFC LIMITED
ICICI Bank
IDBI Bank
IDFC Bank
Indiabulls Housing Finance
Indian Bank
Indian Overseas Bank
IndusInd Bank
J&K Bank
Kotak Mahindra Bank
LIC Housing
Oriental Bank of Commerce
Punjab & Sind Bank
Punjab National Bank
Shriram Transport Finance
South Indian Bank
SBI
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank
Yes Bank
Adani Power
BPCL
CESC
Chennai Petroleum
GAIL
HPCL
IOCL
Mangalore Refinery
NHPC
NTPC
ONGC
Oil India
Powergrid Corp
Suzlon Energy
Tata Power
Torrent Power
Aurobindo Pharma
Cipla
Dr. Reddy's
Glenmark Pharma
Lupin
Sun Pharma
HCL
Infosys
TCS
Tech Mahindra
Wipro
ABB India Limited
Alok Industries
Apollo Tyres
Ashok Leyland
Asian Paints
Bajaj Auto
BEL
BHEL
Bhushan Steel Bosch
Century Textiles
Chambal Fertilizers
Coromandel Intl.
Eicher Motors
Exide Industries
Grasim Industries
Havells India
Hero Motocorp
Hindalco
Hindustan Zinc
Jindal Stainless (Hisar)
Jindal Stainless
Jindal Steel & Power
JK Tyres
JSW Steel
L&T
M&M
Maruti Suzuki
Motherson Sumi
MRF
NALCO
National Fertilizers Ltd.
NLC India
Rashtriya Chemicals
Reliance Industries
Shree Renuka Sugars
Siemens Ltd.
SAIL
Tata Chemicals
Tata Motors
Tata Steel
TVS Motors
UPL Ltd.
Videocon Industries
Adani Enterprises
Coal India
MMTC
NMDC
Vedanta Ltd.
ACC Ltd.
Ambuja Cements
Gammon India
Jaiprakash Assoc.
KEC Intl.
NCC Ltd.
Reliance Infrastructure
Shree Cements
Ultratech Cement
Aditya Birla FashionBritannia Industries
Future Retail
Gitanjali Gems
HUL
ITC
Nestle India
PC Jewellers
Redington India
Ruchi Soya Industries
Titan
United Breweries
United Spirits
Bharti Airtel
Bharti Infratel
Idea Cellular
Reliance Commn
Interglobe Aviation
Jet Airways
Nearly 20% of the Billion Dollar Enterprises are the Early Adopters and are
well underway in their digital transformation journey
Source: Zinnov Analysis of 141 Billion Dollar Public-Listed Indian Enterprises
12
Capability (Advanced Technology*, Digital Talent, Digital Partnership, M&A and Investments)
Scalability(RevenueGrowth,ProfitGrowthandProductivity)
Early Adopters
Beginners
Followers
Verticals
BFSI
Healthcare
Manufacturing
Real Estate & Construction
Telecom
Energy & Utilities
IT/ITeS
Mining & Trading
Retail/CPG
Transport & Hospitality
*Advanced Technologies include Artificial Intelligence, Internet of Things and Robotic Process Automation

13. Around 40% of Billion Dollar Enterprises have invested in AI, Automation
and IoT currently
13
50%
46%
40%
22%
17%
Advanced Technologies Adoption by Industry Verticals
Source: Zinnov Analysis of 141 Billion Dollar Public-Listed Indian Enterprises
19%
AI
Automation
IoT
Transport &
Hospitality
Energy &
Utilities
Real Estate &
Construction
IT/ITeS
Telecom
BFSI
Retail/CPG
Manufacturing
Mining &
Trading
Healthcare
Advanced Technologies Focus of Large Enterprises

14. Global technology firms are facilitating the enterprises in their
transformation journey
Global Technology
Players (Illustrative)
Digital Solutions
Investments in
Startups
Key Digital
Talent Hired
CoE on
Advanced Tech
Focus on ISV
partnerships
Partnership with
Service Provider
Co-innovation
with Customers
Amazon Web Services
Cisco
Google
HP
IBM
Microsoft
Oracle
SAP
iBoT platform with Azure IoT services
helped United Spirits keep a track of its
Visicoolers and enhance customer
experience
Launched ‘Pointnext’, its digital
transformation services arm, to help
customers in adoption of new
technologies
S/4 HANA was adopted by Hero Future
Energy (part of Hero Group) for end-to-
end business process integration and
bringing in financial and operational
efficiencies
Setting up of Internet of Things (IoE)
Innovation Centre in Visakhapatnam
and Technology Center of Excellence
and Research Lab at Tirupati
Source: News reports, Technology blogs, Company press releases, Zinnov Analysis
14Low High

15. @Zinnov
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