Jindal Stainless and Indian Oil Corporation Limited (IOCL) have renewed their Lubricants Vendor Managed Inventory (VMI) partnership for another five years, extending the long-standing relationship between the two companies. The agreement was renewed at a signing ceremony held at Jindal Stainless’ Hisar unit. The ceremony was attended by Hemant Rathore, Executive Director, Northern Region & State Head, DSO, Indian Oil, and Vijay Bindlish, Unit Head – Hisar, Jindal Stainless.
The renewed arrangement will continue the supply and management of lubricants for Jindal Stainless’ industrial operations. The partnership is aimed at supporting equipment reliability and ensuring the availability of lubrication products required for manufacturing operations.
Abhyuday Jindal, Managing Director, Jindal Stainless, said, “Our longstanding association with Indian Oil reflects the value of sustained collaboration between two organisations with a shared focus on quality, reliability and technical excellence. The renewal of this arrangement for another five years reinforces this relationship and provides an opportunity to deepen our engagement further. We look forward to continuing our collaboration with Indian Oil and exploring new avenues of technical cooperation as industry needs evolve.”
Hemant Rathore, Executive Director, Northern Region & State Head, DSO, Indian Oil, said, “Indian Oil Corporation Limited and Jindal Stainless Limited share a long-standing and valued relationship, encompassing a wide range of lubricant and fuel requirements. The renewal of the Consumer’s Operated Lube Depot’s (COLD) agreement for another 5 years marks an important milestone in this enduring partnership.” He added that Indian Oil also supplies Jindal Stainless with light diesel oil (LDO), high-speed diesel (HSD), low sulphur heavy stock (LSHS) and propane, extending the relationship beyond lubricants to other energy requirements.
The renewed partnership covers the companies’ continuing engagement in lubricant and energy supplies. For large-scale manufacturing operations, the availability of suitable lubricants is important for maintaining industrial equipment, reducing maintenance requirements and supporting uninterrupted production. The VMI arrangement is intended to support the availability of lubricants at Jindal Stainless’ operations while enabling coordination between the two companies on product requirements and supply.
Jindal Stainless reported an annual turnover of ₹42,955 crore (US$4.86 billion) in FY26 and has an annual melt capacity of 4.2 million tonnes. The company operates 16 stainless steel manufacturing and processing facilities in India and overseas, including facilities in Spain and Indonesia. As of March 2026, it had a presence across 12 countries, along with 10 sales offices and six service centres in India.
Its product portfolio includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel and coin blanks. Founded in 1970, Jindal Stainless uses electric arc furnace technology in its manufacturing operations. The company said the process supports the use of recycled scrap while reducing greenhouse gas emissions.
