Partnership Renewal Details

Jindal Stainless Limited and Indian Oil Corporation Limited (IOCL) have renewed their Lubricants Vendor Managed Inventory (VMI) partnership for an additional five-year period. The formal agreement signing ceremony was held at Jindal Stainless's Hisar unit.

Executive Attendance

The ceremony was attended by:

  • Mr. Hemant Rathore, Executive Director, Northern Region & State Head, DSO, Indian Oil
  • Mr. Vijay Bindlish, Unit Head - Hisar, Jindal Stainless

Management Commentary

Mr. Abhyuday Jindal, Managing Director, Jindal Stainless commented: \"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.\"

Mr. Hemant Rathore, Executive Director, Northern Region & State Head, DSO, Indian Oil stated: \"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. In addition to lubricants, Indian Oil also caters to Jindal Stainless' energy requirements through supplies of LDO, HSD, LSHS and Propane, further reflecting the breadth and depth of the association between the two organizations.\"

Scope of Partnership

The renewed partnership includes:

  • Lubricants supply through Vendor Managed Inventory (VMI) arrangement
  • Energy supplies including LDO (Light Diesel Oil), HSD (High Speed Diesel), LSHS (Low Sulphur Heavy Stock), and Propane
  • Technical collaboration for challenging applications using Indian Oil's SERVO® lubricants

Strategic Significance

The partnership focuses on supporting manufacturing continuity through:

  • Equipment reliability
  • Operational efficiency
  • Performance optimization
  • Dependable lubrication and energy solutions

The collaboration is described as built on mutual trust, reliability, and shared objectives, representing a win-win proposition for both organizations.

Company Background (Jindal Stainless)

  • India's leading stainless steel manufacturer
  • Annual turnover: INR 42,955 crore (USD 4.86 billion) in FY26
  • Annual melt capacity: 4.2 million tonnes
  • Manufacturing footprint: 16 stainless steel manufacturing and processing facilities in India and abroad (including Spain and Indonesia)
  • Worldwide network in 12 countries (as of March 2026)
  • Domestic presence: 10 sales offices and 6 service centers in India (as of March 2026)
  • Product range: Stainless steel slabs, blooms, coils, plates, sheets, precision strips, wire rods, rebars, blade steel, and coin blanks
  • Manufacturing process: Uses electric arc furnace technology that reduces greenhouse gas emissions and allows for scrap recyclability
  • Founded: 1970