JSW Steel Coated Products Ltd. (JSCPL), a subsidiary of JSW Steel Ltd., has completed the merger with its wholly-owned step-down subsidiary, National Steel and Agro Industries Ltd. (NSAIL). This merger, approved by the National Company Law Tribunal (NCLT), aims to streamline operations, improve efficiency, and achieve cost savings across the company’s operations.
Financial Highlights
- JSCPL’s revenue for the fiscal year ending March 31, 2024, stood at INR 34,347.26 crore.
- NSAIL reported a revenue of INR 1,122.66 crore for the same period.
Key Details of the Merger
- The appointed date of the merger is October 1, 2023, as per the NCLT order passed on October 3, 2024.
- The merger does not alter the shareholding pattern, as no new shares will be issued due to NSAIL being a wholly-owned subsidiary of JSCPL.
- JSCPL and NSAIL are engaged in the manufacturing of value-added steel products, including tin plates and coated sheets.
Benefits of the Merger
The merger is designed to yield several advantages, such as:
- Consolidation of value-added steel manufacturing under one entity for timely supplies and increased management efficiency.
- Better synergies in operations and optimal use of resources, including centralized inventory.
- Enhanced capability to bid for larger contracts and secure funding for expansions.
- Operational and administrative cost savings through standardization and simplification of business processes.
