Press Release in connection with acquisition of friction business of M. Hindustan Composites Limited is…

Rane (Madras) Limited has entered into a Business Transfer Agreement with Hindustan Composites Limited to acquire its friction business, including assets, liabilities, contracts, licenses, and employees, on a slump sale basis. This acquisition is subject to customary closing conditions and necessary approvals. The Board of Directors approved the agreement during their meeting on June 30, 2026.

An acquisition spends cash or issues shares today for earnings that arrive later, so the price paid and the funding route decide whether holders gain.

• Consideration and how it is funded
• Revenue and profit of the target
• Expected completion date
• It is expected to be completed by the end of the second quarter. (management committed by Q2 FY27)