Jindal Stainless, Indian Oil Renew Lubricants Partnership For Five Years

Mumbai: Jindal Stainless and Indian Oil Corporation (IOCL) have renewed their Lubricants Vendor Managed Inventory (VMI) partnership for a further period of five years, the company announced on October 5, 2026.

Agreement Details

The renewal formalises the continued collaboration between the two organisations. The agreement signing ceremony took place at Jindal Stainless' Hisar unit.

Leadership Presence

Hemant Rathore, Executive Director, Northern Region & State Head, DSO, Indian Oil, and Vijay Bindlish, Unit Head – Hisar, Jindal Stainless, were present at the signing ceremony.

Management Commentary

Abhyuday Jindal, Managing Director, Jindal Stainless, said the renewal reinforces their relationship for another five years and offers an opportunity to deepen engagement and explore new technical cooperation avenues. Rathore said the renewal of the Consumer's Operated Lube Depot's (COLD) agreement for another five years marks an important milestone. He added that Indian Oil supplies LDO, HSD, LSHS and Propane to Jindal Stainless, covering a wide range of its energy requirements.

Business Impact

The extended partnership builds on broader engagement across lubricants and energy supplies. The companies stated this supports manufacturing continuity, operational efficiency, and equipment reliability for industrial operations.

Company Overview

Jindal Stainless reported an annual turnover of ₹42,955 crore in FY26, with an annual melt capacity of 4.2 million tonnes. As of March 2026, it has 16 stainless steel manufacturing and processing facilities globally and a network in 12 countries. Its product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.