| Mining | Mining and sale of manganese ore and iron ore through mechanized and semi-mechanized mining. | Long-term mining leases, established operations, environmental clearances, and regulatory approvals. | B2B clients in steel manufacturing and ferroalloy sectors. | Mechanized iron ore mining with higher efficiency and margins. | 1615 | 51 | Sale of manganese and iron ore to industrial customers and internal consumption. | Market-linked pricing on sales contracts and spot sales. | Increased mining capacities, EKP approvals, and enhanced production limits. | Sandur Manganese & Iron Ores mining leases |
| Ferroalloys | Production and sale of ferroalloys used in steel manufacturing. | Integrated power generation, use of waste heat recovery boilers, captive coke supply. | B2B customers in steel industry. | Ferroalloys produced using captive power and optimized furnaces. | 124 | 4 | Sales to steel plants and alloy manufacturers. | Market price linked sales, contracts with steel mills. | Operational efficiencies, power generation improvements, increased steel demand. | Silicomanganese and Ferromanganese alloys |
| Coke and Energy | Manufacturing of coke, captive power generation including renewable energy. | Hybrid renewable capacities and synergies with ferroalloy operations. | Internal divisions and industrial clients. | Waste heat power generation, renewable energy projects. | 235 | 7 | Sale and captive consumption of coke and power; contracts for conversion services. | Contractual agreements and market pricing for power and coke. | Renewable energy capacity, conversion agreements, stable coke supply. | Coke Oven Plant, Waste Heat Recovery Boilers, Renewable energy projects |
| Steel | Manufacture of specialty steel, including high-quality auto-grade Special Bar Quality (SBQ) steels. | Strong OEM relationships, product quality certifications, integrated manufacturing. | B2B - automotive OEMs, industrial sectors. | High value-added SBQ and alloy steel products. | 1212 | 38 | Sale of finished steel products to automotive and industrial sectors. | Contractual and spot sales linked to steel market pricing. | Strategic acquisition, growing domestic specialty steel demand, government safeguard duties. | Arjas Steel Private Limited, Arjas Modern Steel Private Limited |
