HINDUSTAN COMPOSITES LTD.

Hindustan Composites Ltd announced that its shareholders have approved the sale of its Friction Business Undertaking on a slump sale basis. The transaction, which received special resolution approval via postal ballot, is expected to be completed by September 30, 2026. The Friction Business contributed INR 315.04 crores (84%) to the company's turnover in FY26, with a net worth of INR 69.52 crores (7.50%). The sale consideration is INR 370 crore in cash, subject to adjustments. The buyer is Rane (Madras) Limited, and the transaction is not a related party transaction. This sale falls under Section 180(1)(a) of the Companies Act, 2013, and Regulation 37A of SEBI LODR Regulations.

Hindustan Composites Ltd's Board of Directors, in a meeting held on July 23, 2026, approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board also recommended the appointment of M/s. R M Mimani & Associates LLP as Secretarial Auditors for a term of five years, from FY 2026-27 to FY 2030-31, subject to member approval at the upcoming 62nd Annual General Meeting. Additionally, the board confirmed the dividend payment timeline for the financial year ended March 31, 2026, if approved at the AGM.

Hindustan Composites Ltd announced the outcome of its Board Meeting held on July 23, 2026. The board approved the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. Additionally, the board recommended the appointment of M/s. R M Mimani & Associates LLP as Secretarial Auditors for a term of five years, commencing from FY 2026-27 to FY 2030-31. This appointment is subject to member approval at the upcoming 62nd Annual General Meeting. The company also provided an update on dividend payment, stating that the dividend for the financial year ended March 31, 2026, if approved, will be paid between October 1, 2026, and October 15, 2026.

Hindustan Composites Ltd announced that its Board of Directors, in a meeting held on July 23, 2026, approved the Un-audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. The board also recommended the appointment of M/s. R M Mimani & Associates LLP as Secretarial Auditors for a five-year term starting FY2026-27. Additionally, the dividend for the financial year ended March 31, 2026, recommended earlier, is proposed to be paid between October 1 and October 15, 2026, subject to member approval at the 62nd Annual General Meeting.

Hindustan Composites Ltd announced its un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The Board of Directors approved these results during a meeting held on July 23, 2026. The company also recommended the appointment of M/s. R M Mimani & Associates LLP as Secretarial Auditors for a five-year term starting FY27. Additionally, the Board's recommendation for a dividend for the financial year ended March 31, 2026, will be presented for approval at the upcoming 62nd Annual General Meeting, with proposed payment between October 1 and October 15, 2026.

Hindustan Composites Ltd has announced that its Board of Directors will convene on July 23, 2026. The primary agenda for this meeting is to consider and approve the Un-audited Standalone and Consolidated Financial Results for the quarter ending June 30, 2026. Concurrently, the company has also informed about the closure of its trading window from July 1, 2026, to July 25, 2026, for designated persons and their immediate relatives, in compliance with SEBI's Prohibition of Insider Trading Regulations, 2015.

Hindustan Composites Ltd announced the resignation of its Secretarial Auditors, M/s. MR & Associates, effective July 10, 2026. The resignation is attributed to the considerable distance between the auditor's office in Kolkata and the company's registered office in Mumbai. The auditors had been appointed for a five-year term starting from the financial year 2025-26. The company has enclosed the resignation letter and relevant disclosures as per SEBI regulations.

Hindustan Composites Ltd has approved the sale of its 'Friction Business Undertaking' to Rane (Madras) Limited for a lump sum cash consideration of INR 370 Crore. The transaction, structured as a slump sale, includes all relevant contracts, assets, and liabilities associated with the development, manufacturing, and marketing of friction materials for automobile, railway, and industrial applications. The Friction Business contributed INR 315.04 Crore, representing 84% of the company's turnover for the financial year ended March 31, 2026. The net worth of the business being transferred is INR 69.52 Crore, or 7.50% of the company's net worth. The sale is subject to shareholder approval, completion of conditions precedent, and closing actions as per the Business Transfer Agreement (BTA), with an expected completion date on or before September 30, 2026. The transaction is outside a scheme of arrangement and requires shareholder approval via a postal ballot process.

Hindustan Composites Ltd announced the sale of its 'Friction Business Undertaking' to Rane (Madras) Limited for a lump sum cash consideration of ₹370 Crore. The transaction, structured as a slump sale, includes the development, manufacturing, and marketing of friction materials for automotive, railway, and industrial applications. The Friction Business contributed ₹315.04 Crore in turnover, representing 84% of the company's total turnover for the financial year ended March 31, 2026. The net worth of the business is ₹69.52 Crore, or 7.50% of the company's net worth. The sale is subject to shareholder approval via a postal ballot process and completion of conditions precedent outlined in the Business Transfer Agreement (BTA). The transaction is expected to be completed by September 30, 2026. Rane (Madras) Limited is not part of the promoter group.

Hindustan Composites Ltd has announced the closure of its trading window for all designated persons and their immediate relatives, as well as all insiders. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will be shut from Wednesday, July 1, 2026, until 48 hours after the declaration of the Un-audited Standalone and Consolidated Financial Results for the quarter ending June 30, 2026. The specific date for the Board meeting to approve these financial results will be communicated separately.