Rane Madras to acquire HCL friction business for Rs 370 crore

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AI summary

Rane (Madras) signed a Business Transfer Agreement to acquire Hindustan Composites' friction business on a slump sale basis for Rs. 370 crore in cash. Deal includes the COMPO brand, two Maharashtra plants, and full friction product range. HCL friction business posted Rs. 315 crore revenue and Rs. 40.29 crore PBT in FY26. Deal expected to close by September 30, 2026, creating a Rs. 1,000+ crore friction platform.

Likely market impact

Strengthens RML's leadership in friction materials. Combined revenue over Rs. 1,000 crore. Synergies and growth expected. Positive for shareholders.