Hindustan Composites Completes Friction Business Slump Sale

Hindustan Composites Ltd has completed the slump sale of its Friction Business Undertaking to Rane (Madras) Limited (RML) effective August 20, 2026. This transaction, as per the Business Transfer Agreement (BTA) dated June 30, 2026, involves the transfer of several Senior Management Personnel (SMPs) to RML. Notably, Managing Director and Key Managerial Personnel (KMP), Mr. Pawan Kumar Choudhary, has resigned from his executive roles to facilitate his transfer to RML, though he remains a Non-Executive Director. Consequently, he also ceases to be the authorized person for materiality disclosures to stock exchanges.