| Zinc India | Mine and refine zinc, lead, silver; largest integrated zinc producer. | Cost leadership, large reserves, integrated supply chain, technological edge. | Primarily B2B industrial customers in metals and manufacturing sectors. | Refined zinc and silver recovery operations. | 32903 | 22 | Metal sales in bulk and refined forms to industrial and consumer sectors. | Market-linked pricing, long-term contracts, and spot sales. | Rising demand for zinc alloy and battery metals; operational efficiency; mine expansions. | Hindustan Zinc (HZL) |
| Zinc International | Mining and processing of zinc concentrate. | Strategic location, proprietary mining technology, partnership with Exxaro. | B2B global metals producers and industrial consumers. | High-grade zinc concentrate from Gamsberg mine. | 3918 | 3 | Sales of zinc concentrate to global smelters and refineries. | Market-linked with concentrate treatment charges applied. | Increased mined metal production, Gamsberg expansion projects. | Gamsberg Project in South Africa and Black Mountain Mining (BMM) |
| Oil & Gas | Exploration, production, and sales of crude oil and natural gas. | Strong reserve base in India, advanced exploration technology. | Primarily B2B energy and utility companies. | Upstream oil production assets. | 11044 | 7 | Sale of oil and gas to domestic and international energy markets. | Market-linked commodity pricing with contracts and spot sales. | Infill drilling, new field discoveries, expanded LNG supply. | Cairn Oil & Gas |
| Aluminium | Refining bauxite to alumina and smelting alumina to primary aluminium metal. | Backward integration, renewable power usage, proprietary R&D. | Industrial B2B customers in construction, automotive, and packaging. | High purity alumina and value-added aluminium alloys. | 58522 | 38 | Sales of alumina and primary aluminium ingots and value-added products. | Market-linked sales with value-added premium products. | Capacity expansions, value-added product launches, lower cost power. | BALCO, Vedanta Aluminium |
| Copper | Copper mining, refining, and production of cathodes and rolled products. | Single-location large smelting complex, technological expertise. | Primarily B2B in electrical, construction and manufacturing sectors. | Processed copper cathodes and specialty copper products. | 23051 | 15 | Sale of copper cathodes and downstream products globally. | Market price linked, contracts with premium for downstream products. | Smelter expansion, increased cathode output, value-added product growth. | Sterlite Copper |
| Iron Ore | Mining and sale of iron ore from Goa and Karnataka mines. | Strategic port access, quality resource base. | Steel producers and export markets primarily B2B. | Premium iron ore with low impurities. | 6086 | 4 | Sale of iron ore lumps and fines to steel manufacturers and exports. | Market linked pricing with export contracts. | Mine ramp-ups and export permit restoration. | Sesa Iron Ore, Western Cluster Limited |
| Power | Generation and sale of thermal and renewable electricity. | Captive power linkage to metals plants, long-term PPAs. | Industrial users, utilities and government entities (B2B). | Renewable energy and high-efficiency thermal plants. | 6159 | 4 | Sale of power via long-term PPAs and merchant markets. | Long-term contracts and spot market sales. | New plant commissioning and higher dispatch volumes. | Talwandi Sabo Power, Athena, Meenakshi Energy |
| Others | Ferrochrome, steel billets, downstream nickel and cobalt products. | Strategic acquisitions, integration of steel and alloy making. | B2B in steel manufacturing, automotive and specialty metal sectors. | Value added ferrochrome and specialty nickel products. | 10080 | 7 | Sale of steel and ferrochrome products and specialty metal products. | Market-based sales and contracts. | Capacity expansions, acquisitions (FACOR, Nicomet), downstream focus. | FACOR, ESL Steel, Nicomet Industries |
