RANE (MADRAS) LTD ACQUIRES FRICTION BUSINESS OF HINDUSTAN COMPOSITES FOR RS 370 CR

• Acquisition of friction business of Hindustan Composites Ltd (HCL) on a slump sale basis for an enterprise value of ₹370 Cr. • HCL's friction business has over six decades of experience across automotive, railway, farm tractor, and industrial sectors. • RML also acquires the brand "COMPO", reinforcing its leadership and expanding reach. • Strategic rationale includes building unparalleled platform scale to create a ₹1,000+ Cr friction materials business and unlocking operational synergies. • The transaction remains subject to customary regulatory approvals and closing conditions, expected to complete by end of Q2 2026.

Rane (Madras) Limited

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