Rane (Madras) Completes Acquisition of Hindustan Composites' Friction Business

Rane (Madras) Limited (RML) has successfully completed the acquisition of the friction business of Hindustan Composites Limited (HCL) on a slump sale basis. The transaction, initially announced via a Business Transfer Agreement (BTA) on June 30, 2026, has now closed following the fulfillment of all conditions precedent and customary closing conditions. HCL's friction business will be integrated into RML's existing Brake Components Business. This acquisition is expected to enhance RML's leadership in the friction sector and is projected to be Earnings Per Share (EPS) accretive from the first year, while also creating opportunities for revenue and operational synergies. The integration will be phased to maximize value for stakeholders.