Jindal Stainless and Indian Oil Corporation Limited (IOCL) have renewed their Lubricants Vendor Managed Inventory (VMI) partnership for five years, according to the stainless steel manufacturer's BSE filing dated October 5, 2026. The extension continues the companies' existing association across lubricants and energy supplies.

The formal agreement signing ceremony took place at Jindal Stainless' Hisar unit. Indian Oil's Executive Director, Northern Region & State Head, DSO, Hemant Rathore, and Jindal Stainless' Unit Head–Hisar, Vijay Bindlish, attended the ceremony.

The release describes the arrangement as a continuation of the organisations' longstanding relationship, with a focus on reliable supplies and technical collaboration. It does not disclose a contract value or committed lubricant supply volumes.

Lubricants renewal builds on wider supply relationship

Jindal Stainless Managing Director Abhyuday Jindal said the five-year renewal provides an opportunity to deepen the companies' engagement. He highlighted quality, reliability and technical excellence as foundations of the relationship and said the company would explore further avenues of technical cooperation as industry requirements evolve.

Rathore described the extension as a renewal of the Consumer's Operated Lube Depot's (COLD) agreement. He said Indian Oil's relationship with Jindal Stainless covers a range of lubricant and fuel requirements.

Alongside lubricants, Indian Oil supplies the manufacturer with:

  • LDO and HSD
  • LSHS
  • Propane

Rathore also referred to Indian Oil's supply of SERVO lubricants for demanding applications. The release links dependable lubrication and energy solutions with equipment reliability, operational efficiency and manufacturing continuity, placing the renewed arrangement within the companies' broader operational engagement.

Jindal Stainless' operating footprint

In the accompanying company profile, Jindal Stainless reported FY26 annual turnover of INR 42,955 crore and an annual melt capacity of 4.2 million tonnes.

As of March 2026, the company had 16 stainless steel manufacturing and processing facilities in India and abroad, including Spain and Indonesia, and a network spanning 12 countries. Its domestic presence included ten sales offices and six service centres.

Its product portfolio includes slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel and coin blanks.