Tenneco Clean Air India Limited (TENNIND)
₹456.50 -0.89% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Tenneco Clean's revenue was ₹1,545 Cr (+20.1% year on year, -0.5% on the previous quarter), and net profit ₹165 Cr (-1.8% year on year); the operating margin was 16.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,545 | +20.1% | -0.5% |
| Operating profit | ₹247 | +7.9% | -3.9% |
| Net profit | ₹165 | -1.8% | -1.2% |
| EPS (₹) | 4.09 | -1.7% | -1.0% |
| Operating margin | 16.0% | — | — |
TENNIND delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 60.67% of the TENNIND shares traded on NSE were taken to delivery, against the stock's own 20-session average of 56.51%. That is close to its usual level.
Delivery in the last 5 sessions: 61.5% · 56.0% · 45.5% · 52.2% · 60.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Tenneco Clean Air India Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that all securities received for dematerialisation during the quarter were processed, verified, and cancelled within prescribed timelines. The underlying securities remain listed on the stock exchanges. This is a purely standard regulatory compliance filing with no impact on operations or financials.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Certificate issued by RTA MUFG Intime India Private Limited on October 3, 2026
- Filing submitted to NSE and BSE on October 9, 2026
Tenneco Clean Air India Limited received a Show Cause Notice (SCN) dated September 29, 2026, from the Maharashtra State GST Department regarding FY 2022-23. The notice alleges excess input tax credit availment of ₹28.55 Cr, accompanied by ₹22.44 Cr in interest and ₹5.71 Cr in penalty, totaling ₹56.70 Cr. The aggregate demand represents approximately 2.9% of the company's TTM PAT of ₹1,958 Cr. The company stated that the SCN is at a preliminary stage, does not constitute a confirmed demand, and plans to contest it legally.
- Received SCN dated September 29, 2026, from the Deputy Commissioner of State Tax, Maharashtra under Section 73(1)
- Alleged excess Input Tax Credit (ITC) availment of ₹285,488,700 for FY 2022-23
- Demand includes interest of ₹224,429,799 and a penalty of ₹57,117,740, bringing total exposure to ~₹56.70 Cr
- Total exposure of ₹56.70 Cr constitutes ~2.9% of TTM PAT (₹1,958 Cr) and 0.33% of TTM revenue (₹17,189 Cr)
Tenneco Clean Air India Limited has announced its participation in two institutional investor conferences in Mumbai. The management team will attend the UBS Conference 2026 on September 10, 2026, followed by the Axis Capital Consumer & Tech Conference on September 11, 2026. The company confirmed that no unpublished price sensitive information (UPSI) will be disclosed during these meetings.
- Management participating in UBS Conference 2026 in person on September 10, 2026 in Mumbai
- Scheduled attendance at Axis Capital Consumer & Tech Conference on September 11, 2026 in Mumbai
- No unpublished price sensitive information (UPSI) will be shared during the conferences
Tenneco Clean Air India Limited submitted the Scrutinizer's Report and voting results for its 8th Annual General Meeting held on August 28, 2026. A total of 35,90,66,340 votes were polled out of 40,36,04,309 outstanding shares, representing an 88.96% turnout. All resolutions, including adoption of standalone and consolidated financial statements, director re-appointments, and auditor appointments, were approved with the requisite majority.
- 8th AGM conducted on August 28, 2026 via video conferencing, passing all 7 agenda items with requisite majority
- Total voter participation reached 88.9649% with 35,90,66,340 votes cast out of 40,36,04,309 total shares
- Promoter group voted 100% of its 24,13,00,439 shares in favour of all key resolutions
- Public institutional participation stood at 83.8745% (11,77,51,772 votes polled)
Tenneco Clean Air India Limited conducted its 8th Annual General Meeting (AGM) on August 28, 2026, via video conferencing. A total of 58 members (7 promoter, 51 public) attended out of 143,689 total shareholders. The company placed 7 ordinary resolutions before shareholders, including adoption of FY26 financial statements, reappointment of directors, secretarial auditor appointment, and revision in remuneration for CEO Mr. Arvind Chandrasekharan. Scrutinizer and voting results will be declared separately within statutory timelines.
- 8th AGM held on August 28, 2026, from 4:00 P.M. to 5:20 P.M. IST via VC/OAVM
- Total of 58 members attended (7 promoter group, 51 public) against total shareholder base of 143,689
- 7 ordinary resolutions tabled including adoption of FY26 standalone and consolidated financial statements
- Proposed remuneration revision for Whole Time Director & CEO Mr. Arvind Chandrasekharan
Tenneco Clean Air India Limited has scheduled participation in the Ashwamedh - Elara India Dialogue 2026 institutional investor conference. The in-person meetings will take place in Mumbai on September 2-3, 2026, attended by the management team. The company affirmed that no unpublished price sensitive information (UPSI) will be disclosed during the interactions.
- Participation scheduled for Ashwamedh - Elara India Dialogue 2026 on September 2-3, 2026
- In-person institutional investor meeting to be held in Mumbai
- Management team representing the company
- Company confirmed no unpublished price sensitive information (UPSI) will be shared
Tenneco Clean Air India Limited announced that its Nomination and Remuneration Committee approved the grant of 2,00,453 stock options to eligible employees under the ESOP Scheme 2025 on August 21, 2026. Each option is convertible into one equity share of face value Rs 10 at an exercise price of Rs 10 per share. The grant is made within the overall shareholder-approved limit of 8,072,086 options. The exercise period is 5 years from the date of vesting.
- Granted 2,00,453 stock options to eligible employees under ESOP Scheme 2025
- Exercise price fixed at Rs 10 per stock option (equal to face value of Rs 10)
- Drawn from a total shareholder-approved limit of 8,072,086 options
- Exercise period is 5 years from the date of vesting
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.
- 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
Tenneco Clean Air India Limited has issued a formal notice to shareholders whose email addresses are not registered, providing access to the Integrated Annual Report for FY 2025-26. This action complies with SEBI Regulation 36(1)(b) regarding the distribution of annual reports. The filing is administrative in nature and follows the company's recent performance, including a reported net profit of ₹118.8 cr in the Dec 2025 quarter. Investors can now access the full report on the company's website for detailed operational insights.
- Notice issued on August 7, 2026, regarding the availability of the FY 2025-26 Integrated Annual Report
- Compliance filing under SEBI Regulation 36(1)(b) for shareholders without registered email IDs
- Company is managing an incremental lifetime order book of ₹9,840 Cr over the next 5-6 years
- Maintains a dominant 68% market share in Clean Air for the Off-Highway segment
- Promoter holding remains stable at 74.79% as of June 2026
Tenneco Clean Air India Limited (TENNIND) has released its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, reporting a standalone turnover of ₹2,288.52 crore. The company maintains a high product concentration, with exhaust systems for motor vehicles accounting for 97.31% of total revenue. Financial health remains robust with a reported net worth of ₹6,038.07 crore. While the company serves 11 international markets, exports currently contribute only 4% to the total turnover, indicating a heavy reliance on the domestic Indian automotive market.
- Standalone turnover for FY 2025-26 recorded at ₹2,288.52 crore
- Exhaust systems for motor vehicles contribute 97.31% of the total business turnover
- Net worth of the entity stood at ₹6,038.07 crore as of March 31, 2026
- Export operations span 11 countries but contribute only 4% of total turnover
- Permanent employee turnover rate improved to 20.44% from 23.34% in the previous fiscal year
Tenneco Clean Air India Limited (TENNIND) has issued a notice for its 8th Annual General Meeting (AGM) scheduled for August 28, 2026. Key agenda items include the adoption of FY26 audited financial statements and the re-appointment of two Non-Executive Directors, Nathan Patrick Bowen and Prakash Mahesh, who are senior executives at the parent Tenneco LLC. Investors should note the proposed revision in remuneration for Whole Time Director and CEO Arvind Chandrasekharan, effective from April 1, 2026. The company also plans to appoint M/s. RPA & Partners as Secretarial Auditors for a three-year term starting FY27.
- 8th Annual General Meeting scheduled for August 28, 2026, at 4:00 PM IST via video conferencing.
- Proposed revision of remuneration for CEO Arvind Chandrasekharan for the period April 1, 2026, to January 31, 2028.
- Appointment of M/s. RPA & Partners as Secretarial Auditors for a 3-year term (FY27 to FY29).
- Re-appointment of two Non-Executive Directors who attended 14 and 16 out of 17 board meetings respectively in FY26.
- Adoption of both Standalone and Consolidated Audited Financial Statements for the year ended March 31, 2026.
Tenneco Clean Air India Limited (TENNIND) has released the audio recording of its Q1 FY2026-27 earnings conference call held on August 6, 2026. The call provides management commentary on the execution of its ₹9,840 Cr incremental lifetime order book and the upcoming TREM 5 regulation shifts in FY27. As a market leader with a 68% share in Off-Highway Clean Air solutions, the company's updates on Japanese OEM expansion are critical for investors. This filing is a procedural requirement to ensure transparency following the quarterly results declaration.
- Earnings conference call conducted on August 6, 2026, at 4:00 PM IST.
- Recording pertains to the financial performance of Q1 FY2026-27.
- Company is currently executing a ₹9,840 Cr incremental lifetime order book over 5-6 years.
- Management previously reported a 68% market share in the Off-Highway Clean Air segment.
- Strategic focus remains on TREM 5 regulation shifts expected in FY27.
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.
- 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.
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.
- 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.
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.
- 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.
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.
Geographic Concentration Risk
High concentration in India, though the INR 1,760 Cr export order book aims to diversify this.
Third Party Dependencies
Heavy reliance on Tenneco Group for the technology and patents required to win new OEM programs.
Technology Obsolescence Risk
Mitigated by continuous access to global R&D and the shift toward more complex emission systems which favors the company's technical depth.
Credit & Counterparty Risk
Not disclosed in available documents; however, clients are major established OEMs.
