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TENNIND - Tenneco Clean

📊 NSE: TENNIND 🏢 Auto Components & Equipments 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Tenneco Clean Air India Schedules Investor Meetings for March 11 and 12, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 09 Mar 2026, 09:13 PM

Tenneco Clean Air India Limited has announced a schedule for meetings with institutional investors and analysts. The company will participate in the Emkay Global Auto Investor Tour in Gurugram on March 11, 2026. This will be followed by a group meeting with various institutional investors in Pune on March 12, 2026. The management team will be present in person for both sessions to discuss the company's performance based on publicly available information.

Meeting with Emkay Global Auto Investor Tour scheduled for March 11, 2026, in Gurugram
Group meeting with analysts and institutional investors set for March 12, 2026, in Pune
Management team to participate in-person at both scheduled locations
Company explicitly stated that no unpublished price sensitive information (UPSI) will be shared
Latest investor presentation remains available on the company's official website

💡 Investors should monitor the company's website or exchange filings for any post-meeting presentations or transcripts that may provide insights into management's outlook.

Tenneco Clean Air India to Attend NBIE Virtual Investor Conference on March 6, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 02 Mar 2026, 03:47 PM

Tenneco Clean Air India Limited (TENNIND) has scheduled a virtual meeting with institutional investors for March 6, 2026. The company will be participating in the NBIE Virtual Investor Conference in a group format. The management team will represent the company to discuss business updates, though no unpublished price sensitive information (UPSI) will be shared. This meeting follows the standard disclosure requirements under SEBI (LODR) Regulations, 2015.

Participation in the NBIE Virtual Investor Conference scheduled for March 6, 2026.
The meeting will be held in a virtual group format with the management team.
Company confirms that no unpublished price sensitive information will be disclosed.
Latest investor presentation is available on the company's official website for public review.

💡 Investors should monitor the company's website for any post-conference transcripts or updated presentations to understand management's outlook. No immediate action is required as this is a routine investor engagement.

Tenneco India Q3 FY26: EBITDA Surges 24.8%, New ₹710M Plant and Major Order Wins Announced

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 11:17 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 13 Feb 2026, 11:12 PM

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.

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

💡 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

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 11:02 PM

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.

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.

💡 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 to Host Q3 & 9M FY2026 Earnings Call on Feb 16, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 11 Feb 2026, 12:16 AM

Tenneco Clean Air India Limited has scheduled its earnings conference call for Monday, February 16, 2026, at 4:00 PM IST. The call will focus on the financial results for the quarter and nine-month period ended December 31, 2025. Top management, including the CEO and CFO, will participate in a discussion followed by a Q&A session. An investor presentation will be filed with the exchanges prior to the call to provide detailed performance metrics.

Earnings conference call scheduled for February 16, 2026, at 4:00 PM IST
Discussion to cover financial performance for Q3 and 9M FY2026 ended December 31, 2025
Management representation includes CEO Arvind Chandrasekharan and CFO Mahender Chhabra
Investor presentation and call transcripts will be accessible via the company's website
Universal dial-in numbers provided: +91 22 6280 1107 and +91 22 7115 8008

💡 Investors should attend the call or review the subsequent transcript to understand management's guidance on the automotive clean air sector. Pay close attention to the investor presentation for specific margin and growth trends.

TENNIND Clarifies SEBI Format Discrepancy in Q2 FY26 Financial Results Submission

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 19 Jan 2026, 05:56 PM

Tenneco Clean Air India Limited (TENNIND) has responded to a clarification request from the National Stock Exchange regarding its financial results for the quarter ended September 30, 2025. The exchange flagged that the initial submission on December 5, 2025, was not in the prescribed SEBI format due to the omission of the date and place of signing. The company clarified that this was an inadvertent error and confirmed the results were approved and signed in Pune on December 5, 2025. A corrected version of the financial statement has been resubmitted to ensure compliance with SEBI Regulation 33.

NSE sought clarification regarding Regulation 33 compliance for the quarter ended September 30, 2025.
The company admitted to an inadvertent omission of the date and place of signing in the December 5, 2025, filing.
Confirmed that the board meeting and signing took place in Pune on December 5, 2025.
A corrected copy of the financial results has been provided as Annexure-A to the exchange.
The company committed to ensuring all future submissions reflect the required SEBI information.

💡 No action is required as this is a procedural clarification regarding a clerical omission and does not impact the company's reported financial figures. Investors should continue to monitor the actual financial performance metrics of the company.

Tenneco Clean Air India Submits Q3 FY26 Compliance Certificate Under SEBI Reg 74(5)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jan 2026, 05:50 PM

Tenneco Clean Air India Limited has submitted its quarterly compliance certificate for the period ended December 31, 2025, as required by SEBI (Depositories and Participants) Regulations. The certificate, issued by MUFG Intime India Private Limited, confirms that all share certificates received for dematerialization were processed within the mandated timelines. It further verifies that physical certificates were mutilated and cancelled after verification, and the names of the depositories were updated in the register of members. This is a standard regulatory filing ensuring the integrity of the company's shareholding records.

Compliance certificate submitted for the quarter ended December 31, 2025.
Confirmation provided by Registrar and Share Transfer Agent, MUFG Intime India Private Limited.
Securities received for dematerialization were processed and confirmed within prescribed SEBI timelines.
Physical security certificates were mutilated and cancelled after due verification by the depository participant.

💡 No action is required from investors as this is a routine administrative filing confirming regulatory compliance regarding share dematerialization.

Tenneco Clean Air India Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Dec 2025, 05:02 PM

Tenneco Clean Air India Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the declaration of the company's un-audited financial results. The specific date for the board meeting to approve these results has not yet been announced.

Trading window closure begins on January 1, 2026, for the quarter ending December 31, 2025.
The restriction applies to all designated persons and their immediate relatives as per SEBI PIT Regulations.
The window will reopen 48 hours after the un-audited financial results are officially declared.
The date for the Board of Directors meeting to approve the results will be informed in due course.

💡 This is a routine regulatory filing with no direct impact on stock fundamentals. Investors should watch for the announcement of the board meeting date to review the upcoming quarterly financial performance.

Tenneco Clean Air India to Meet Phillip Capital on December 24, 2025

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Dec 2025, 07:38 PM

Tenneco Clean Air India Limited (TENNIND) has scheduled an in-person meeting with Phillip Capital on December 24, 2025, in Gurugram. The meeting will involve the company's management team to discuss business updates as per SEBI disclosure regulations. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during this interaction. Investors are encouraged to review the latest Q2FY26 investor presentation available on the company's website for current performance metrics.

In-person meeting scheduled with Phillip Capital for December 24, 2025
Meeting to be held in Gurugram with the company's management team
Disclosure made under Regulation 30(6) of SEBI (LODR) Regulations, 2015
Company confirmed no unpublished price sensitive information will be shared
Latest Q2FY26 Investor Presentation is available for public review

💡 Investors should monitor for any research reports or meeting notes that may be published by Phillip Capital following the interaction. Review the Q2FY26 presentation to assess the company's operational progress in the clean air technology sector.

Tenneco Clean Air India to Meet ValueQuest and LIC Mutual Fund on Dec 23-24

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Dec 2025, 11:25 PM

Tenneco Clean Air India Limited (TENNIND) has announced a schedule for virtual meetings with institutional investors. The company is set to meet ValueQuest Investment Advisors on December 23, 2025, and LIC Mutual Fund on December 24, 2025. These interactions are part of the company's regular investor engagement following its Q2FY26 results. The management team will represent the company, and no unpublished price-sensitive information is expected to be disclosed.

Virtual meeting with ValueQuest Investment Advisors scheduled for December 23, 2025
Virtual meeting with LIC Mutual Fund scheduled for December 24, 2025
Management team to participate in both institutional calls
Company referred to its latest Q2FY26 Investor Presentation for context

💡 Investors should review the Q2FY26 investor presentation on the company website to understand the current business outlook. No immediate action is required as these are routine institutional interactions.

Tenneco Clean Air India to Meet Institutional Investors Including BlackRock and Aberdeen in Dec 2025

🔵 WATCH ⭐ 4/10

ROUTINE 📅 16 Dec 2025, 07:25 PM

Tenneco Clean Air India Limited has scheduled a series of meetings with prominent institutional investors between December 19 and December 29, 2025. The participants include major global and domestic firms such as BlackRock, White Oak Capital, Aberdeen, and 3P Investment Managers. These interactions will be conducted through virtual calls and one in-person session in Delhi NCR. The company has stated that no unpublished price sensitive information will be shared, focusing instead on publicly available data and the Q2FY26 investor presentation.

Four institutional investor meetings scheduled between December 19 and December 29, 2025.
Key participants include global investment giants BlackRock and Aberdeen.
Meetings will involve both virtual modes and an in-person session in Delhi NCR with the management team.
Discussions will be centered around the company's Q2FY26 Investor Presentation.
The company confirmed that no unpublished price sensitive information (UPSI) will be disclosed.

💡 Investors should monitor these interactions as high-profile institutional interest often leads to increased analyst coverage or changes in shareholding patterns. It is advisable to review the Q2FY26 investor presentation to understand the current business outlook.

TENNIND: Analyst/Institutional Investor Meet on December 18, 2025

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 14 Dec 2025, 09:45 PM

Tenneco Clean Air India Limited announced a schedule of meetings with analysts and institutional investors. A meeting with White Oak Capital AMC is scheduled for December 18, 2025, in Pune. The company states that no unpublished price-sensitive information will be disclosed during these meetings. Investors can access the latest investor presentation on the company's website.

Meeting with White Oak Capital AMC on December 18, 2025
Meeting to be held in Pune
Investor presentation available at: https://tennecoindia.com/wp-content/uploads/2025/12/IR-Presentation-Q2FY26.pdf
Scrip Code: 544612

💡 Review the investor presentation available on the company website to understand the company's performance and outlook. Monitor for any updates following the analyst/investor meet.

Tenneco Clean Air India Q2FY26 PAT Rises 9.9% to ₹150.7 Cr; Secures ₹9,840 Cr in New Bookings

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Dec 2025, 07:33 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 10 Dec 2025, 02:00 PM

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.

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%

💡 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.

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💰 Financial Performance

Revenue Growth by Segment

Value Added Revenue (VAR) grew 8.9% YoY in Q2 FY26 to INR 1,151.5 Cr and 8.2% YoY in H1 FY26 to INR 2,318.1 Cr, outperforming sub-markets (PV, CT, OH) which grew 4-5%. Reported Revenue from Operations grew 9.6% YoY in Q2 FY26 to INR 1,280.6 Cr.

Geographic Revenue Split

Primarily domestic focused with a nascent but fast-growing export segment. The incremental lifetime order book of INR 9,840 Cr includes INR 1,760 Cr (approx. 18%) specifically for exports.

Profitability Margins

EBITDA Margin (Basis VAR) was 18.8% in Q2 FY26 and 19.2% in H1 FY26. PAT Margin (Basis VAR) was 13.1% in Q2 FY26 and 13.8% in H1 FY26, expanding 34 bps YoY due to stable material costs and higher interest income.

EBITDA Margin

18.8% in Q2 FY26, a 5.7% YoY growth in absolute EBITDA to INR 216.8 Cr. Margins are expected to be 'soft' in the near term due to incremental public company compliance and management costs.

Capital Expenditure

H1 FY26 Capex stood at INR 24.6 Cr, aligned with the localization roadmap and planned investments across 12 manufacturing facilities.

Credit Rating & Borrowing

Not disclosed in available documents; however, the company operates with a negative working capital cycle and high ROCE (>70% in H1 FY26), indicating low debt dependency.

⚙️ Operational Drivers

Raw Materials

Substrates and precious metals (platinum, palladium, rhodium) used in clean air systems, which are treated as pass-through costs to customers.

Capacity Expansion

Currently operates 12 manufacturing facilities and 2 R&D centers. Management plans to double capacity over the next 3 to 5 years to meet growing demand.

Raw Material Costs

Substrate costs are excluded from VAR to reflect underlying performance. Precious metals are a pass-through; price increases raise 'Revenue from Operations' but do not impact absolute EBITDA profitability.

Manufacturing Efficiency

Localisation and product mix improvements (higher value clean air systems) drove a 34 bps expansion in PAT margins in H1 FY26.

📈 Strategic Growth

Expected Growth Rate

8.9%

Growth Strategy

Execution of a INR 9,840 Cr incremental lifetime order book over 5-6 years, leveraging TREM 5 regulation shifts in FY27, and expanding into untapped 'whitespace' with Japanese OEMs.

Products & Services

Clean Air solutions (oxycat, particulate filters) for commercial and off-highway vehicles; Advanced Ride Technologies (ART) including shock absorbers and struts for passenger vehicles.

Brand Portfolio

Tenneco, Tenneco Clean Air, Advanced Ride Technologies (ART).

New Products/Services

Oxycat and particulate filters for TREM 5 norms; advanced dynamic suspension components for the ART segment.

Market Expansion

Strategic entry into a leading Japanese passenger vehicle OEM (previously untapped whitespace) and increasing market share with Indian OEMs in the ART segment.

Market Share & Ranking

Leader in Clean Air for Off-Highway (68% share), Commercial Trucks (57% share), and Shock Absorbers/Struts for PV (52% share).

Strategic Alliances

2.5% royalty agreement with Tenneco Group provides access to thousands of global patents and R&D support.

🌍 External Factors

Industry Trends

Shift toward stricter emission norms (TREM 5), vehicle premiumization requiring advanced suspension, and increasing export traction for Indian-made auto components.

Competitive Landscape

Holds #1 or #2 market positions across all key segments; competes with global and domestic auto-ancillary players.

Competitive Moat

Durable moat through 52-68% market shares, access to thousands of proprietary patents via parentage, and a negative working capital cycle that is industry-best-in-class.

Macro Economic Sensitivity

Highly sensitive to the Indian automotive market (PV, CT, OH segments) which grew 4-5% in H1 FY26.

Consumer Behavior

Increasing demand for 'cleaner, safer, and smoother' vehicles is driving OEM adoption of advanced emission and suspension technologies.

⚖️ Regulatory & Governance

Industry Regulations

Emission standards (BS-VI, TREM 5) mandate the use of the company's Clean Air systems; safety standards drive demand for ART suspension products.

Environmental Compliance

TREM 5 emission norms (expected FY27) are a major regulatory driver that will increase the company's content per vehicle.

⚠️ Risk Analysis

Key Uncertainties

Timing of TREM 5 legislation implementation (FY27) and the ability to absorb public company compliance costs which may soften margins by 1-2% in the short term.