Rane (Madras) Ltd Completes Acquisition of HCL's Friction Business

Rane (Madras) Limited (RML) has successfully completed the acquisition of the friction business of Hindustan Composites Limited (HCL) on August 20, 2026. The transaction, based on a Business Transfer Agreement signed on June 30, 2026, was finalized after fulfilling all conditions precedent and customary closing conditions. HCL's friction business will be integrated into RML's Brake Components Business, aiming to strengthen RML's market leadership. The integration is planned in a phased manner to maximize customer and stakeholder value, drive operational synergies, and leverage complementary strengths. RML anticipates this acquisition to be Earnings Per Share (EPS) accretive from the first year, creating further opportunities for revenue and operational synergies.