Jindal Stainless renews 5-year lubricants partnership with Indian Oil
- Jindal Stainless and IOCL renewed VMI partnership for 5 years
- Agreement signed at Hisar unit involving senior executives
- Partnership covers lubricants and energy supplies like LDO, HSD
- Jindal Stainless reported ₹42,955 crore turnover in FY26

*this image is generated using AI for illustrative purposes only.
Jindal Stainless and Indian Oil Corporation Limited (IOCL) have renewed their Lubricants Vendor Managed Inventory (VMI) partnership for a further period of five years. The agreement reinforces the long-standing association between the two organisations, focusing on reliable supply solutions for industrial operations.
The formal signing ceremony took place at Jindal Stainless' Hisar unit. Key attendees included Hemant Rathore, Executive Director, Northern Region & State Head, DSO at Indian Oil, and Vijay Bindlish, Unit Head - Hisar at Jindal Stainless.
Strategic collaboration details
Abhyuday Jindal, Managing Director of Jindal Stainless, highlighted that the renewal reflects the value of sustained collaboration between two organisations with a shared focus on quality, reliability, and technical excellence. He noted that the extended arrangement provides an opportunity to deepen engagement as industry needs evolve.
Hemant Rathore from Indian Oil stated that the renewal of the Consumer's Operated Lube Depot's (COLD) agreement marks an important milestone. He emphasised that Indian Oil caters to Jindal Stainless' energy requirements through supplies of LDO, HSD, LSHS, and Propane, in addition to lubricants. This breadth of supply underscores the depth of the association, built on mutual trust and reliability.
Operational significance
The renewed partnership supports manufacturing continuity by ensuring dependable lubrication and energy solutions. As industrial operations increasingly prioritise equipment reliability and operational efficiency, such arrangements play a critical role in maintaining performance standards.
Company profile snapshot
| Metric | Detail |
|---|---|
| Annual Turnover (FY26) | ₹42,955 crore |
| USD Turnover (FY26) | $4.86 billion |
| Annual Melt Capacity | 4.2 million tonnes |
| Manufacturing Facilities | 16 (India and abroad) |
| Global Network | 12 countries |
Jindal Stainless, India's leading stainless steel manufacturer, operates integrated facilities to enhance cost competitiveness. The company utilises electric arc furnace technology to reduce greenhouse gas emissions and support scrap recyclability. Its product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks.
Historical Stock Returns for Jindal Stainless
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.21% | +0.70% | +1.78% | +4.62% | -4.73% | +324.03% |
How might the renewed VMI partnership influence Jindal Stainless' operational cost structure and margins over the next five years?
What impact could this long-term energy and lubricant security have on Jindal Stainless' capacity expansion plans in India and abroad?
Will the integration of broader energy supplies (LDO, HSD, LSHS) encourage Indian Oil to expand similar VMI models with other major industrial manufacturers?


































