Tenneco Clean Air India Limited (NSE: TENNIND; BSE: 544612) is a Tier-1 automotive component manufacturer supplying Clean Air, Powertrain, and Advanced Ride Technologies solutions to leading original equipment manufacturers across passenger vehicles, commercial vehicles, and off-highway segments. The company operates 12 manufacturing facilities and two R&D centers in India and is part of the global Tenneco Group. Its portfolio includes catalytic converters, diesel particulate filters, selective catalytic reduction systems, exhaust systems, bearings, sealings, spark plugs, and advanced suspension technologies under brands such as Monroe and Champion.<\/p>\n\n\n\n
For Q3 FY26 (quarter ended December 31, 2025), revenue from operations stood at INR 12,853 million, reflecting a year-over-year increase of 14.2% compared with INR 11,251 million in Q3 FY25. Value Added Revenue (VAR), the company\u2019s primary performance metric excluding pass-through substrate costs, increased 14.7% year over year to INR 11,941 million.<\/p>\n\n\n\n
EBITDA for the quarter was INR 2,225 million, representing a 24.8% increase over INR 1,783 million in Q3 FY25. EBITDA margin on a VAR basis improved to 18.6% from 17.1% in the prior-year quarter, supported by operating leverage, commercial actions, and cost discipline.<\/p>\n\n\n\n
Profit after tax (PAT) was INR 1,188 million, compared with INR 1,254 million in Q3 FY25, reflecting a 5.3% year-over-year decline due to a one-time impact of INR 203 million related to implementation of the new labor code. Adjusted PAT excluding this one-time expense stood at INR 1,391 million, reflecting 11.0% growth year over year. PAT margin on a VAR basis was 9.9% during the quarter.<\/p>\n\n\n\n
For the nine months ended December 31, 2025, VAR stood at INR 35,122 million compared with INR 31,838 million in 9M FY25. EBITDA for the nine-month period was INR 6,682 million versus INR 5,964 million in the prior-year period. PAT for 9M FY26 was INR 4,376 million compared with INR 4,128 million in 9M FY25. Return on capital employed exceeded 80% for the period.<\/p>\n\n\n\n
Segment performance in Q3 FY26 reflected balanced growth. Clean Air and Powertrain Solutions revenue was INR 5,644 million, up 5.4% year over year. Advanced Ride Technologies revenue increased 24.5% year over year to INR 6,297 million, supported by higher passenger vehicle demand and new program ramp-ups.<\/p>\n\n\n\n
The revenue mix remains diversified across end markets. For 9M FY26, approximately two-thirds of VAR was derived from passenger vehicles, about one-fifth from commercial vehicles including off-highway, and the balance from other streams including aftermarket and industrial applications. Export programs form a meaningful portion of the order book and provide margin diversification.<\/p>\n\n\n\n
The company continues to maintain strong capital efficiency, supported by disciplined working capital management and high return ratios.<\/p>\n\n\n\n
During the quarter, Tenneco India launched its DaVinci DCx advanced suspension technology with a leading Indian OEM for a flagship SUV platform. The program carries an estimated annual revenue potential of approximately INR 2,200 million. The DaVinci system enhances ride comfort through a proprietary shim stack disc design enabling controlled hydraulic flow without dependence on complex electronics.<\/p>\n\n\n\n
The company also secured a Clean Air program win with a leading European commercial vehicle OEM for a modular BSVI aftertreatment system. This program has an estimated annual revenue potential of approximately INR 1,150 million and supports cost optimization for the OEM.<\/p>\n\n\n\n
To support Clean Air growth, the board approved development of a new greenfield plant in Kharkhoda, Haryana, involving planned capital expenditure of approximately INR 710 million. Production is targeted to commence in Q3 FY27, strengthening proximity to northern customers and supporting the Light Vehicle, Off-Highway, and Tractor segments.<\/p>\n\n\n\n
Performance remains linked to automotive production volumes, regulatory emission norms, and raw material price movements. Regulatory changes such as the recent labor code implementation can result in one-time financial impacts. Global trade policies and currency fluctuations may influence export margins and order flow.<\/p>\n\n\n\n
Key items to monitor include the ramp-up of the DaVinci DCx program, execution timelines for the Kharkhoda plant, sustainability of EBITDA margins amid segment mix changes, export growth trajectory, and conversion of the existing order book into realized revenue. The company indicated that its lifetime order book provides visibility covering projected FY2028 revenue.<\/p>\n\n\n\n
Tenneco Clean Air India delivered double-digit revenue growth in Q3 FY26 with revenue from operations of INR 12,853 million and VAR of INR 11,941 million. EBITDA increased to INR 2,225 million with margin expansion. Adjusted PAT improved despite a one-time regulatory charge. Program wins in Advanced Ride Technologies and Clean Air, along with planned capacity expansion, provide multi-year revenue visibility and operational scale.<\/p>\n","protected":false},"excerpt":{"rendered":"
Business Overview Tenneco Clean Air India Limited (NSE: TENNIND; BSE: 544612) is a Tier-1 automotive component manufacturer supplying Clean Air, Powertrain, and Advanced Ride Technologies solutions to leading original equipment manufacturers across passenger vehicles, commercial vehicles, and off-highway segments. The company operates 12 manufacturing facilities and two R&D centers in India and is part of […]<\/p>\n","protected":false},"author":2402,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,12],"tags":[12516,11400],"class_list":["post-181023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-other-industries","tag-air-pollution-control","tag-recycling"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":181073,"url":"https:\/\/alphastreet.com\/india\/tenneco-clean-air-india-ltd-tennind-q3-2026-earnings-call-transcript\/","url_meta":{"origin":181023,"position":0},"title":"Tenneco Clean Air India Ltd (TENNIND) Q3 2026 Earnings Call Transcript","author":"News desk","date":"February 16, 2026","format":false,"excerpt":"Tenneco Clean Air India Ltd (NSE: TENNIND) Q3 2026 Earnings Call dated Feb. 16, 2026 Corporate Participants: Roopali Singh \u2014 Company Secretary and Compliance Officer Arvind Chandra \u2014 Whole-time Director and Chief Executive Officer Mahender Chhabra \u2014 Chief Financial Officer Analysts: Jinesh Gandhi \u2014 Analyst Jeemit Shah \u2014 Analyst Ravi\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":153149,"url":"https:\/\/alphastreet.com\/india\/federal-mogul-goetze-india-ltd-q1fy24-48-rise-in-profits\/","url_meta":{"origin":181023,"position":1},"title":"Federal-Mogul Goetze (India) Ltd Q1FY24; 48% rise in Profits","author":"Hardik Bhandare","date":"August 14, 2023","format":false,"excerpt":"Federal-Mogul Goetze (India) Ltd manufactures, supplies, and distributes automotive components like pistons, piston rings, etc to two\/three\/four-wheeler automobiles in Indian and International markets. 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