The company said the contract is not a related-party transaction and that neither its promoters nor promoter group entities have any interest in the deal.

Vedanta Iron and Steel (VISL) is an integrated iron and steel company with operations across India and Africa. It operates across the value chain, from iron ore mining to the production of steel, pig iron, wire rods, TMT bars, ductile iron pipes, ferro-silicon, cement and metallurgical coke. The company also operates a 1.5 MTPA integrated steel plant at Bokaro through its wholly owned subsidiary, ESL Steel.

United Drilling Tools is a leading manufacturer of oil drilling-related equipment in India and has obtained global quality certifications for its major products. The company reported a 23.1% increase in consolidated net profit to Rs 4.79 crore in the fourth quarter of FY26, compared with Rs 3.89 crore posted in the corresponding quarter last year. Revenue from operations jumped 39.2% year-on-year to Rs 43.32 crore in the quarter ended 31 March 2026.