Hindustan Composites Sells Friction Business To Rane Madras For ₹370 Crore

Board approved transfer of Friction Business Undertaking (84% of FY26 turnover) to Rane (Madras) Limited on slump sale basis for INR 370 Cr cash consideration. Subject to shareholders' approval via postal ballot; expected completion by 30th September 2026. Proceeds to be partly returned as special dividend; transaction expected to be EPS-accretive and strengthens balance sheet.