- Business
- Hindustan Composites Limited Hindustan Composites Limited manufactures and markets fiber-based friction materials and industrial sealing products in India. The company produces brake linings, clutch facings, ceramic buttons, disc brake pads, roll linings, brake blocks, friction sheets, and industrial roll linings; it also offers insulation products including millboard sheets, millboard disks, compestos, and compestos rings for thrust bearings. These products serve core industries such as automotive, railways, engineering, mining, aerospace, steel, chemical, oil exploration, marine, and power generation, with operations centered in India through ISO 9001:2015 and IATF 16949:2016 certified plants in Paithan and Bhandara, Maharashtra. Founded in 1964 and headquartered at Peninsula Business Park in Mumbai, the company operates two segments—composite products and investments—and maintains in-house resin production and a recognized R&D center by the Department of Science and Technology, Government of India. Recent developments include board approval in February 2025 to commence trading in metals and commodities; acquisition of 30,000 HDFC Bank shares for 50.2 million rupees in October 2024; entry into a share purchase agreement with Swiggy in September 2024, followed by a stake purchase that boosted its share price; an insurance claim of 64 million rupees for fire damages in March 2024; and a capacity expansion plan approved for fiscal year 2025-26.