JSW Steel plans to amalgamate four fully-owned subsidiaries within the group before winding them down. These are Dolvi Minerals and Metals, Dolvi Coke Projects, JSW Steel Processing Centres, and JSW Steel (Salav).

The reasons for the move include operational synergies with JSW’s existing business, ensuring a streamlined group structure, reducing the multiplicity of legal and regulatory compliances, and rationalising costs, JSW says.

The amalgamation is subject to approval from Indian authorities.

JSW Steel recently acquired the remaining 60% stake it did not own in Dolvi Minerals and Metals in order to secure coke feedstock for its Dolvi steelworks (see Kallanish passim). JSW plans to commission by year-end a new 1.5 million tonnes/year capacity coke plant at Dolvi.

In the six months through September JSW’s standalone flat product sales rose 4% on-year to 5.6 million tonnes, long product deliveries increased 9% to 1.76mt, and semis sales grew 2% to 430,000t. Revenue rose 26% to INR 38,633 crores ($5.5 billion) and net profit soared 266% to INR 4,622 crores.