Rane (Madras) Ltd to Acquire Hindustan Composites' Friction Business for Rs 370 Crore
Rane (Madras) Ltd has agreed to acquire Hindustan Composites Ltd's friction business, including the 'COMPO' brand, for an enterprise value of Rs 370 crore. The acquisition, subject to regulatory approvals, will combine Rane's existing friction business with HCL's, creating a market-leading entity with over Rs 1,000 crore in revenue across automotive, railway, farm tractor, and industrial sectors. HCL's friction business reported Rs 315.04 crore revenue and Rs 40.29 crore profit before tax in FY26, operating two manufacturing units in Maharashtra.