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TENNIND Q1 FY27 Revenue up 20.2% to Rs 1,544.8 Cr; Market Share Gains in CV and PV Segments
Tenneco Clean Air India reported a strong Q1 FY27 with revenue from operations growing 20.2% YoY to Rs 1,544.8 cr. EBITDA grew 7.9% to Rs 246.9 cr, maintaining a 17.9% margin on value-added revenue despite commodity inflation. The company achieved significant market share gains, reaching 55% in passenger vehicle shock absorbers and 58% in commercial vehicle clean air solutions. Management confirmed a planned capex of Rs 350-450 cr, which will be entirely funded through internal accruals, supporting a massive Rs 9,840 cr incremental lifetime order book.
Confidence: HIGH
What changedThe company reported its first full quarter as a listed entity, demonstrating market share expansion and the launch of the DCx32 platform for smaller vehicle segments.
Why it mattersTENNIND is consolidating its leadership in the Clean Air and Ride Technology segments; the ability to fund significant capex (Rs 450 cr) through internal cash flow while remaining debt-free is a strong financial indicator.
Revenue (Q1 FY27): Rs 1,544.8 crEBITDA Margin: 17.9%PV Market Share: 55%Planned Capex: Rs 350-450 crIncremental Order Book: Rs 9,840 crOrder Book vs Annualized Revenue: ~160%
📅 Short termPositive sentiment is expected as the company outperformed its addressable market growth and secured new export orders in Europe.
📈 Long termStructural growth is supported by a doubling of capacity over 3-5 years and a transition to higher-value emission control systems required by upcoming regulations.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Commodity inflation impacting EBITDA growth
- Potential delays in TREM 5 legislation
- Geopolitical disruptions affecting global supply chains
Key Highlights
Revenue from operations grew 20.2% YoY to INR 15,448 million (Rs 1,544.8 cr)
Market share in PV shock absorbers and struts expanded from 52% to 55% in the Indian market
Planned annual capex of INR 350 cr to INR 450 cr to be funded entirely via internal accruals
Secured a major spark plug order from one of India's largest PV OEMs, entering a new 'white space'
Incremental lifetime order book stands at INR 9,840 cr to be executed over the next 5-6 years
👀 What to Watch
Monitor the adoption of the new DCx32 platform for A and B segment vehicles and the implementation of TREM 5 emission norms in FY27, which are expected to drive high-value filter demand.
18.4% VAR Growth in Q1 FY2027; Tenneco Reports Strong Market Share Gains
Tenneco Clean Air India (TENNIND) reported a strong Q1 FY2027 with Value Added Revenue (VAR) growing 18.4% YoY to ₹1,381.6 crore, outperforming the industry's 16.2% growth. EBITDA increased 7.9% to ₹246.9 crore, although EBITDA margins on VAR contracted by 175 bps to 17.9% due to commodity inflation and listing-related administrative costs. The company achieved significant market share gains, reaching 55% in passenger vehicle shock absorbers and 58% in commercial vehicle clean air solutions. Net profit stood at ₹165.2 crore, a slight 1.7% decline YoY primarily due to a high base from a one-off business sale in the previous year.
Confidence: HIGH
What changedTenneco has transitioned to a listed entity and reported its first major quarterly performance update, showcasing market share expansion and new product wins in 'whitespace' segments like spark plugs.
Why it mattersThe company's ability to outpace industry growth and secure orders from new OEMs validates its technology leadership and dominant market position (55-68% across key segments), which is critical for long-term margin resilience.
Value Added Revenue (Q1 FY27): ₹1,381.6 croreEBITDA (Q1 FY27): ₹246.9 crorePAT (Q1 FY27): ₹165.2 crorePV Shock Absorber Market Share: 55%Incremental Lifetime Order Book: ₹9,840 crore
📅 Short termThe stock may see positive sentiment driven by strong revenue outperformance and new customer wins, though the slight PAT dip due to base effects and margin pressure may temper immediate gains.
📈 Long termThe company is structurally well-positioned to benefit from tightening emission norms (TREM 5) and its strategy to double capacity over 3-5 years to service its massive order book.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Commodity price volatility impacting margins
- Dependency on Tenneco Group for technology (2.5% royalty)
- Potential delays in TREM 5 legislation implementation
Key Highlights
Value Added Revenue (VAR) grew 18.4% YoY to ₹1,381.6 crore, exceeding industry volume growth of 16.2%.
Market share in Passenger Vehicle shock absorbers and struts increased to 55%, up from 52% in the previous period.
Secured 4 new customers in the Advanced Ride Technologies (ART) segment and a strategic spark plug order from a leading Indian PV OEM.
EBITDA grew 7.9% YoY to ₹246.9 crore, despite a 175 bps margin contraction to 17.9%.
Maintained a dominant 68% market share in the Off-Highway Clean Air Solutions segment.
👀 What to Watch
Investors should monitor the stabilization of EBITDA margins as one-time listing costs fade and track the execution of the ₹9,840 crore incremental lifetime order book, particularly regarding TREM 5 regulation shifts in FY27.
20.2% Revenue Growth in Q1 FY2027; Value-Added Revenue up 18.4% YoY
Tenneco Clean Air India reported a 20.2% YoY increase in revenue to ₹1,544.8 Cr for Q1 FY2027, with Value-Added Revenue (VAR) rising 18.4% to ₹1,381.6 Cr. The Advanced Ride Technologies (ART) segment was the primary driver, growing 27.9% YoY and increasing its passenger vehicle market share to 55%. EBITDA margins on VAR contracted by 175 bps to 17.9%, impacted by commodity inflation and one-time listing-related expenses. While reported PAT fell slightly to ₹165.2 Cr, adjusting for a ₹18.7 Cr one-time gain in the previous year shows underlying profit growth in line with EBITDA.
Confidence: HIGH
What changedThe company reported its first Q1 results as a listed entity, demonstrating 20.2% revenue growth and successful entry into the spark plug segment for passenger vehicles.
Why it mattersThe results confirm Tenneco's ability to outpace industry growth and successfully cross-sell new technology-intensive products to its existing OEM client base, diversifying beyond traditional exhaust systems.
Revenue from Operations: ₹1,544.8 CrValue-Added Revenue (VAR): ₹1,381.6 CrEBITDA Margin (VAR): 17.9%PAT: ₹165.2 CrPV Shock Absorber Market Share: 55%Industry Volume Growth: 16.2%
📅 Short termThe strong top-line outperformance and market share gains are likely to be viewed positively, though the 175 bps margin contraction due to commodity and listing costs may temper immediate gains.
📈 Long termStructural growth remains robust, supported by a ₹9,840 Cr incremental lifetime order book and the upcoming shift toward TREM 5 emission regulations in FY2027.
⚠ Risk flags
- Commodity price inflation impacting margins
- Listing-related cost overheads
- Dependency on Tenneco Group for technology (2.5% royalty)
- Potential delays in TREM 5 regulation implementation
Key Highlights
Revenue from operations increased 20.2% YoY to ₹1,544.8 Cr.
Advanced Ride Technologies (ART) segment revenue grew 27.9% to ₹719 Cr.
Value-added revenue (VAR) growth of 18.4% outperformed the industry volume growth of 16.2%.
Passenger vehicle shock absorber market share expanded by 300 bps YoY to 55%.
Secured a maiden export order from a leading European ATV manufacturer, marking entry into a new whitespace.
👀 What to Watch
Watch for margin stabilization as one-time listing costs subside and monitor the ramp-up of the new spark plug program with a major Indian OEM. Track the implementation timeline of TREM 5 norms, which is a key catalyst for the Clean Air segment.
₹1,544.75 Cr Revenue in Q1; TENNIND Consolidated PAT Dips 1.7% YoY Despite 20% Top-line Growth
Tenneco Clean Air India reported a robust 20.1% YoY increase in consolidated revenue to ₹1,544.75 cr for Q1 FY27. However, consolidated net profit marginally declined by 1.7% YoY to ₹165.24 cr, down from ₹168.09 cr in the same period last year. This margin pressure was primarily driven by a 24.1% surge in raw material costs, which outpaced revenue growth. The company continues to leverage its dominant market position, including a 68% share in the Off-Highway Clean Air segment.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, showing strong volume-led revenue growth but a slight decline in profitability due to higher input costs.
Why it mattersAs a leader in clean air solutions for commercial and off-highway vehicles, the company's ability to pass through substrate costs is critical for maintaining absolute margins during regulatory shifts.
Consolidated Revenue (Q1 FY27): ₹1,544.75 crConsolidated PAT (Q1 FY27): ₹165.24 crYoY Revenue Growth: 20.1%Material Cost as % of Revenue: 66.5%Lifetime Order Book: ₹9,840 cr
📅 Short termThe stock may see neutral to slightly cautious sentiment as the market digests the marginal PAT decline despite strong revenue growth.
📈 Long termThe long-term outlook remains tied to the ₹9,840 cr order book execution and the structural shift toward advanced emission technologies in the Indian automotive sector.
⚠ Risk flags
- Raw material price volatility impacting margins
- Dependency on Tenneco Group for technology (2.5% royalty)
- Potential delays in TREM 5 legislation implementation
Key Highlights
Consolidated Revenue from operations grew 20.1% YoY to ₹1,544.75 cr.
Consolidated PAT saw a slight contraction of 1.7% YoY, finishing at ₹165.24 cr.
Cost of materials consumed rose significantly by 24.1% YoY to ₹1,027.86 cr.
Consolidated Earnings Per Share (EPS) for the quarter stood at ₹4.09.
Standalone operations contributed ₹906.73 cr in revenue with a PAT of ₹90.67 cr.
👀 What to Watch
Monitor the transition to TREM 5 emission norms in FY27, which is expected to drive sales of higher-margin products like Oxycat and particulate filters. Investors should also track the execution of the ₹9,840 cr incremental lifetime order book and the impact of the 2.5% royalty agreement with the parent group on margins.
Tenneco Clean Air India FY26 PAT Rises 9.3% to ₹6,044 Mn; EBITDA Margin Hits Record 18.8%
Tenneco Clean Air India reported a robust FY26 with Value Added Revenue (VAR) growing 12.3% YoY to ₹49,180 million and a record EBITDA margin of 18.8%. The company achieved a significant milestone with its ROCE jumping to 94% from 57% in FY25, while maintaining a zero-debt balance sheet. With a lifetime order book of ₹124,000 million, the company has 100% revenue visibility for its FY28 targets. Strategic expansions are underway with a ₹1,400 million capex for new plants in West and North India.
Key Highlights
FY26 Value Added Revenue (VAR) increased 12.3% YoY to ₹49,180 million, with Q4 VAR growing 17.5%.
EBITDA margins reached a record high of 18.8% for the full year, up from 14.3% in FY24.
Lifetime order book stands at ₹124,000 million, providing full visibility for FY28 revenue targets.
Return on Capital Employed (ROCE) improved drastically to 94% in FY26 compared to 57% in FY25.
Announced ₹1,400 million capex for two new facilities to support Advanced Ride Technologies and Clean Air segments.
👀 What to Watch
Investors should maintain a positive outlook given the company's record profitability, zero-debt status, and massive order book visibility. The successful adoption of the DCx DaVinci suspension system and entry into Japanese OEM segments provide strong catalysts for future growth.
Tenneco Clean Air FY26 PAT up 9.3% to ₹6,044 Mn; Order Book reaches ₹1.24 Lakh Cr
Tenneco Clean Air India (TENNIND) reported a strong FY2026 with Value Added Revenue (VAR) growing 12.3% YoY to ₹49,180 million and a record EBITDA margin of 18.8%. The company achieved a remarkable ROCE of 94%, up from 57% in the previous year, while maintaining a net debt-free balance sheet. A massive incremental lifetime order book of ₹124,000 million provides high revenue visibility, covering over 100% of the FY2028 revenue target. Additionally, the company announced a total greenfield expansion capex of ₹1,400 million across Northern and Western India.
Key Highlights
FY2026 EBITDA grew 13.5% to ₹9,255 million with a record margin of 18.8% due to P3 operating model efficiencies.
Incremental lifetime order book stands at ₹124,000 million, providing strong revenue visibility for the next 5-6 years.
Return on Capital Employed (ROCE) surged to 94% in FY2026, reflecting high capital efficiency and disciplined execution.
Announced ₹1,400 million total capex for greenfield expansions in Northern and Western India to meet rising demand.
Strategic entry into the engine bearings business and first-ever Clean Air program secured with a leading Japanese PV OEM.
👀 What to Watch
Investors should consider the company's strong order book and industry-leading ROCE as indicators of long-term value creation. The stock remains attractive given its net debt-free status and clear growth trajectory through upcoming capacity expansions.
Tenneco Clean Air India to Host Q4 & FY2026 Earnings Call on June 3, 2026
Tenneco Clean Air India Limited (TENNIND) has scheduled its earnings conference call for Wednesday, June 3, 2026, at 4:00 PM IST. The call will focus on the financial results for the fourth quarter and the full fiscal year ended March 31, 2026. The management team, including the CEO and CFO, will provide a business performance update followed by a Q&A session. The company has confirmed that no unpublished price-sensitive information will be shared during the discussion.
Key Highlights
Earnings call scheduled for June 3, 2026, at 4:00 PM IST to discuss Q4 and FY2026 results.
Management representation includes Mr. Arvind Chandrasekharan (CEO) and Mr. Mahender Chhabra (CFO).
Universal dial-in numbers for the call are +91 22 6280 1107 and +91 22 7115 8008.
Investor presentation will be uploaded to stock exchanges and the company website prior to the call.
👀 What to Watch
Investors should monitor the call for management's outlook on the clean air segment and FY2027 guidance to assess the company's long-term valuation.
Tenneco Clean Air Reports FY26 Revenue of ₹5,404 Cr with 94.2% ROCE
Tenneco Clean Air India (TENNIND) reported a strong financial performance for FY26, with Revenue from Operations growing 10.5% YoY to ₹54,039.76 million. The company maintains an exceptionally strong balance sheet with a negative net debt of ₹5,197.30 million, indicating a significant cash surplus. Profitability remains robust with a PAT of ₹6,043.59 million and an impressive Return on Capital Employed (ROCE) of 94.19%. Operational efficiency is highlighted by a negative cash conversion cycle of 23 days.
Key Highlights
Revenue from operations grew by 10.50% YoY to ₹54,039.76 million, while Value Added Revenue (VAR) grew 12.28%.
EBITDA increased by 13.52% to ₹9,254.67 million, maintaining a healthy margin of 18.82% on VAR.
Exceptional capital efficiency with Return on Equity (ROE) at 42.97% and ROCE at 94.19%.
Company is net debt-free with a cash surplus of ₹5,197.30 million and a negative cash conversion cycle of 23 days.
Clean Air and Powertrain division remains the largest contributor with revenue of ₹29,155.05 million.
👀 What to Watch
The company's high ROCE and negative cash conversion cycle indicate a superior business model with high capital efficiency. Investors should monitor the sustainability of these margins as the automotive sector evolves.
Tenneco Clean Air India Appoints Noah Jesse Falk as Director; KPMG Named Internal Auditor
Tenneco Clean Air India Limited has announced a series of management changes effective May 30, 2026. Mr. Noah Jesse Falk, a private equity professional from Apollo Management, has been appointed as an Additional Non-Executive Director. This follows the resignation of Mr. Utsav Baijal from the Board and the Risk Management Committee. Additionally, the company has appointed KPMG as Internal Auditors for FY 2026-27 and RPA & Partners as Secretarial Auditors for a three-year term ending FY 2028-29.
Key Highlights
Appointment of Mr. Noah Jesse Falk as Additional Non-Executive Director effective May 30, 2026.
Resignation of Mr. Utsav Baijal as Non-Executive Director due to professional commitments.
KPMG Assurance and Consulting Services LLP appointed as Internal Auditors for the financial year 2026-27.
RPA & Partners appointed as Secretarial Auditors for a three-year block from FY 2026-27 to FY 2028-29.
Reconstitution of the Nomination and Remuneration Committee and Risk Management Committee effective May 30, 2026.
👀 What to Watch
These changes represent standard governance procedures and auditor rotations. Investors should monitor the impact of the new board composition on strategic oversight, though no immediate action is necessary.
Tenneco India Q4 PAT up 18.8% YoY; FY26 EBITDA Margin hits record 18.8%
Tenneco Clean Air India reported a strong FY2026 performance with Value-Added Revenue (VAR) growing 12.3% to INR 49,180 million and PAT increasing 9.3% to INR 6,044 million. The company achieved its highest-ever EBITDA margin of 18.8% for the full year, driven by operational efficiencies. A massive order book of INR 124,000 million provides 100% revenue visibility for the FY2028 target. To support this growth, the company announced a cumulative capex of INR 1,400 million for two new greenfield plants in North and West India.
Key Highlights
Q4 FY26 Value-Added Revenue (VAR) grew 17.5% YoY to INR 14,058 million.
Full-year FY26 EBITDA margin reached a record 18.8%, up 21 bps from the previous year.
Total lifetime order book stands at INR 124,000 million, covering 100% of FY2028 revenue targets.
Announced INR 1,400 million capex for new greenfield plants in North and West India to support ART and Clean Air segments.
ROCE improved significantly to 94% in FY26 from 57% in FY25.
👀 What to Watch
Investors should maintain a positive outlook given the robust order book and margin expansion; the company's strategic capacity additions and technology wins in the SUV and EV-adjacent segments suggest strong long-term growth potential.
Tenneco Clean Air India Approves FY26 Audited Results; Auditor Issues Unmodified Opinion
Tenneco Clean Air India Limited (TENNIND) has approved its audited consolidated financial results for the fiscal year ended March 31, 2026. The statutory auditor, Deloitte Haskins & Sells LLP, issued an unmodified opinion, confirming the reliability of the financial statements. The consolidated performance includes four key subsidiaries: Tenneco Automotive India, Federal-Mogul Bearings, Federal-Mogul Ignition, and Federal-Mogul Sealings. The board meeting concluded on May 30, 2026, marking the completion of the annual reporting cycle for the company.
Key Highlights
Board approved audited standalone and consolidated financial statements for the full year ended March 31, 2026.
Statutory auditors Deloitte Haskins & Sells LLP issued an audit report with an unmodified opinion.
Consolidated results incorporate four major subsidiaries including Federal-Mogul Bearings and Tenneco Automotive India.
The board meeting was held on May 30, 2026, and concluded at 10:47 p.m. IST.
👀 What to Watch
Investors should examine the detailed profit and loss statements to assess margin trends and revenue growth compared to industry peers in the auto-ancillary sector.
Tenneco Clean Air India to Expand Capacity by 2.1M Units with INR 690 Million Investment
Tenneco Clean Air India's material subsidiary has approved a capacity expansion project to set up a new factory in Western India. The project aims to add 2.1 million units per annum of Front Struts and Rear Shock Absorbers to the existing capacity of 19.69 million units. The total investment of INR 690 million will be funded through internal accruals, indicating strong cash flow and no additional debt burden. The expansion is scheduled for completion in a phased manner over FY 2026-27 and FY 2027-28.
Key Highlights
Proposed capacity addition of ~2.1 million units per annum for Front Struts and Rear Shock Absorbers
Total investment of ~INR 690 million to be funded entirely through internal accruals
Existing capacity of ~19.69 million units is currently operating at optimum utilization levels
Project execution planned in a phased manner during FY 2026-27 and FY 2027-28
Strategic expansion into Western India to meet growing demand and improve manufacturing footprint
👀 What to Watch
Investors should view this expansion positively as it is self-funded and addresses high utilization levels. Monitor the company's ability to maintain margins while scaling up operations in the Western region.
Tenneco Clean Air India Shareholders Approve ESOP Scheme 2025 with 93% Majority
Tenneco Clean Air India Limited (TENNIND) has successfully passed two special resolutions via postal ballot regarding its Employee Stock Option Scheme 2025. The first resolution, ratifying and amending the scheme, received 93.11% support, while the second, extending grants to group company employees, received 93.18% support. Despite the overall approval, a significant 36% of institutional investors voted against both resolutions. These approvals allow the company to proceed with its long-term incentive plans for employees across its corporate structure.
Key Highlights
Ratification of Employee Stock Option Scheme 2025 passed with 34.75 crore votes in favor (93.11%)
Extension of ESOP grants to subsidiary and holding company employees approved with 93.18% majority
Institutional investors showed notable resistance, with approximately 36.4% of their votes cast against the ESOP amendments
Total voting participation was high, with 92.48% of outstanding shares represented in the postal ballot
Promoter group provided full support for both resolutions, casting 100% of their 30.18 crore votes in favor
👀 What to Watch
Investors should monitor the potential equity dilution resulting from the ESOP grants in upcoming quarters. The high institutional dissent suggests a need to scrutinize the scheme's specific terms for any governance or valuation concerns.
Tenneco Clean Air India Seeks Approval for ESOP 2025 Covering 80.72 Lakh Shares
Tenneco Clean Air India Limited (TENNIND) has issued a postal ballot notice to ratify and amend its Employee Stock Option Scheme 2025. The scheme involves a pool of up to 80,72,086 equity shares, which constitutes 2% of the company's share capital as of June 27, 2025. These amendments are primarily intended to align the pre-IPO scheme with SEBI (Share Based Employee Benefit and Sweat Equity) Regulations, 2021, following the company's listing. The proposal also seeks to extend grant eligibility to employees of group, subsidiary, and holding companies.
Key Highlights
Ratification of ESOP Scheme 2025 involving up to 80,72,086 equity shares of face value Rs. 10 each.
The total ESOP pool represents 2% of the company's total share capital as of June 27, 2025.
Amendments aim to ensure compliance with SEBI (SBEB & SE) Regulations, 2021, post-initial public offering.
Extension of grant eligibility to employees of Group, Subsidiary, Associate, and Holding companies.
Remote e-voting period is set from April 3, 2026, to May 2, 2026, with results by May 5, 2026.
👀 What to Watch
Investors should monitor the potential 2% equity dilution resulting from the exercise of these options over time. As this is a standard regulatory alignment post-listing, it is generally viewed as a routine corporate action for talent retention.
Tenneco Clean Air India Q3 EBITDA Jumps 25%; Announces INR 710M Greenfield Expansion
Tenneco Clean Air India reported a strong Q3 FY26 with Value Added Revenue (VAR) growing 15% YoY and EBITDA increasing 25% to INR 2,225 million. The company secured a major INR 2,200 million annual contract for its DaVinci DCx suspension system and another INR 1,150 million order for commercial vehicle aftertreatment systems. A new greenfield plant in Kharkhoda, Haryana, with a capex of INR 710 million, is planned for completion by Q3 FY27. Despite a one-time labor code impact of INR 203 million affecting PAT, the company maintains a robust ROCE of over 80% and 100% revenue visibility through FY28.
Key Highlights
Value Added Revenue (VAR) grew 14.7% YoY to INR 11,941 million in Q3 FY26.
EBITDA rose 24.8% YoY to INR 2,225 million with healthy margins of 18.6%.
Secured a landmark INR 2,200 million annual revenue program for DaVinci DCx suspension systems.
Board approved INR 710 million capex for a new greenfield plant in Kharkhoda, Haryana.
Maintained exceptional capital efficiency with ROCE exceeding 80% for 9M FY26.
👀 What to Watch
Investors should focus on the company's strong order book and high ROCE as indicators of long-term value creation. The expansion into premium suspension technology and new manufacturing capacity provides clear double-digit growth visibility through FY28.
Tenneco India Q3 FY26: EBITDA Surges 24.8%, New ₹710M Plant and Major Order Wins Announced
Tenneco Clean Air India reported a strong Q3 FY2026 with Value-added Revenue (VAR) growing 14.7% YoY to ₹11,941 million. EBITDA saw a significant jump of 24.8% to ₹2,225 million, driven by operating leverage and improved margins of 18.6%. While reported PAT fell 5.3% due to a one-time ₹203 million labor code impact, adjusted PAT grew 11% to ₹1,391 million. The company also announced a ₹710 million greenfield expansion in Haryana and secured major new orders worth approximately ₹3,350 million annually.
Key Highlights
Value-added Revenue (VAR) increased 14.7% YoY to ₹11,941 million, while EBITDA grew 24.8% to ₹2,225 million.
Adjusted PAT rose 11% to ₹1,391 million after excluding a one-time ₹203 million impact from the new labor code.
Secured a major suspension program win worth ₹2,200 million annually and a Clean Air program worth ₹1,150 million annually.
Board approved a ₹710 million greenfield plant in Kharkhoda, Haryana, expected to commence production in Q3 FY27.
Current order book covers 100% of projected FY2028 revenue, indicating strong long-term growth visibility.
👀 What to Watch
Investors should take note of the significant EBITDA margin expansion and the massive jump in ROCE to over 80%. The high revenue visibility through FY2028 and new capacity expansion suggest a robust growth trajectory, making it a strong candidate for long-term portfolios.
Tenneco Clean Air to Invest ₹710 Million for New Factory in Haryana
Tenneco Clean Air India Limited has approved a ₹710 million investment to set up a new manufacturing facility in Kharkhoda, Haryana. The project will be funded through internal accruals and is expected to be completed in a phased manner over the next two financial years. The expansion will add approximately 130,000 'cold end' units and 256,000 'hot end' units to its current production capacity. This strategic move aims to capture growing demand and enhance the company's footprint in Northern India.
Key Highlights
Total investment of ₹710 million for capacity expansion in Kharkhoda, Haryana
Addition of ~130K 'cold end' and ~256K 'hot end' units over two years
Financing to be handled entirely through internal accruals, avoiding new debt
Current capacity utilization stands at 48% for cold end and 77% for hot end products
👀 What to Watch
Investors should view this as a positive growth signal, especially given the internal funding and strategic location. Monitor the execution timeline and the impact on margins as the new capacity comes online.
Tenneco Clean Air Q3 Revenue Rises 14% to ₹12,853 Mn; PAT Impacted by One-time Labour Code Charge
Tenneco Clean Air India reported a 14.2% year-on-year growth in consolidated revenue from operations, reaching ₹12,852.64 million for the quarter ended December 31, 2025. Consolidated net profit for the quarter stood at ₹1,188.08 million, a slight decline from ₹1,254.04 million in the previous year due to a one-time exceptional charge of ₹271.68 million related to new Labour Codes. Excluding this exceptional item, Profit Before Tax showed a healthy growth of 16% YoY, rising to ₹1,917.60 million. This marks the company's first financial disclosure following its stock market listing in November 2025.
Key Highlights
Consolidated Revenue from operations grew 14.2% YoY to ₹12,852.64 million in Q3 FY26.
Profit Before Tax (before exceptional items) increased by 16% YoY to ₹1,917.60 million.
Recognized a one-time exceptional expense of ₹271.68 million due to the statutory impact of new Labour Codes on gratuity.
Nine-month Profit After Tax (PAT) reached ₹4,375.76 million on total income of ₹38,990.74 million.
The company successfully listed on NSE and BSE on November 19, 2025, following its Initial Public Offering.
👀 What to Watch
Investors should look past the headline PAT decline as it was driven by a non-recurring statutory charge; the underlying operational PBT growth of 16% remains strong. Monitor the company's margin sustainability in the upcoming quarters as it settles into its post-listing phase.
Tenneco Clean Air India Q2FY26 PAT Rises 9.9% to ₹150.7 Cr; Secures ₹9,840 Cr in New Bookings
Tenneco Clean Air India reported a strong Q2FY26 with Value-Added Revenue (VAR) growing 8.9% YoY to ₹1,151.5 crore, outperforming the served market growth of 5%. Net profit for the quarter rose 9.9% to ₹150.7 crore, supported by a healthy EBITDA margin of 18.8%. A major highlight is the acquisition of ₹9,840 crore in incremental lifetime bookings, which significantly enhances revenue visibility for the next 5-6 years. The company remains debt-free with an efficient negative working capital cycle of 22 days.
Key Highlights
Value-Added Revenue for Q2FY26 grew 8.9% YoY to ₹11,515 million, exceeding the industry growth of 5%.
Secured ₹98.4 billion (₹9,840 crores) in incremental lifetime bookings, including ₹17.6 billion in exports.
H1FY26 PAT increased by 10.9% YoY to ₹3,188 million with a strong margin of 13.8%.
Maintained a debt-free status with a negative cash conversion cycle of 22 days and H1 operating cash flow of ₹1,122 crore.
Advanced Ride Technologies segment grew 15.4% YoY in Q2, driven by demand for dynamic suspension components.
👀 What to Watch
Investors should focus on the massive ₹9,840 crore order book which provides long-term growth visibility and validates the company's competitive edge. The debt-free balance sheet and superior capital efficiency make it a robust pick in the auto-ancillary sector.
Tenneco Clean Air India Q2FY26 Value-Added Revenue up 8.9% YoY
Tenneco Clean Air India Limited reported an 8.9% year-on-year increase in value-added revenue for Q2FY26, reaching ₹11,515 million. EBITDA for the quarter rose by 5.7% to ₹2,168 million, with a margin of 18.8%. PAT increased by 9.9% to ₹1,507 million, representing a 13.1% margin. The company secured new strategic wins of ₹98.4 billion in incremental lifetime bookings, including ₹17.6 billion from exports.
Key Highlights
Value-Added Revenue for Q2FY26 grew 8.9% year-on-year to ₹11,515 million.
EBITDA for Q2FY26 was ₹2,168 million, with a margin of 18.8%.
New strategic wins of ₹98.4 billion in incremental lifetime bookings secured.
Exports contribute ₹17.6 billion to the new bookings.
H1FY26 EBITDA was ₹4,457 million, with strong margins at 19.2%
👀 What to Watch
Investors should note the company's strong revenue growth and strategic wins, indicating positive future performance. Monitor the execution of these new bookings and their impact on future earnings.
