Tenneco Clean Air India Ltd
Incorporated in 2018, Tenneco Clean Air India Limited is a subsidiary of Tenneco Inc., a global leader in designing and manufacturing clean air and powertrain products for automotive applications.[1]
- Market Cap ₹ 17,135 Cr.
- Current Price ₹ 425
- High / Low ₹ 657 / 419
- Stock P/E 26.7
- Book Value ₹ 38.1
- Dividend Yield 0.00 %
- ROCE 60.8 %
- ROE 44.4 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 42.0%
- Company has been maintaining a healthy dividend payout of 100.0%
Cons
- Stock is trading at 11.2 times its book value
- Promoter holding has decreased over last quarter: -15.0%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 4,827 | 5,468 | 4,890 | 5,404 | 6,101 | |
| Sales growth | +13% | -11% | +10% | +22% | |
| 4,256 | 4,855 | 4,075 | 4,479 | 5,113 | |
| Operating Profit | 571 | 613 | 815 | 925 | 988 |
| OPM % | 12% | 11% | 17% | 17% | 16% |
| 59 | 69 | 41 | 32 | 7 | |
| Interest | 22 | 25 | 20 | 34 | 34 |
| Depreciation | 101 | 104 | 103 | 108 | 113 |
| Profit before tax | 508 | 553 | 733 | 816 | 848 |
| Tax % | 25% | 25% | 25% | 26% | |
| 381 | 417 | 553 | 604 | 624 | |
| EPS in Rs | 17.80 | 19.46 | 13.68 | 14.95 | 15.45 |
| Dividend Payout % | 41% | 46% | 82% | 172% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 18% |
| TTM: | 10% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 42% |
| Last Year: | 44% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 313 | 214 | 404 | 404 | 404 |
| Reserves | 895 | 766 | 1,206 | 794 | 1,133 |
| 31 | 15 | 20 | 52 | 40 | |
| 1,190 | 1,140 | 1,202 | 1,288 | 1,466 | |
| Total Liabilities | 2,429 | 2,135 | 2,831 | 2,537 | 3,042 |
| 631 | 608 | 582 | 582 | 545 | |
| CWIP | 18 | 37 | 31 | 58 | 153 |
| Investments | 1 | 1 | 0 | 0 | 0 |
| 1,779 | 1,490 | 2,218 | 1,897 | 2,344 | |
| Total Assets | 2,429 | 2,135 | 2,831 | 2,537 | 3,042 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 538 | 488 | 562 | 1,429 | |
| -13 | -30 | -27 | -69 | |
| -394 | -686 | -433 | -1,075 | |
| Net Cash Flow | 130 | -228 | 103 | 285 |
| Free Cash Flow | 475 | 391 | 500 | 1,345 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 118% | 98% | 93% | 190% |
Ratios
Consolidated / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 43 | 37 | 51 | 43 |
| Inventory Days | 42 | 31 | 31 | 35 |
| Days Payable | 100 | 86 | 100 | 111 |
| Cash Conversion Cycle | -16 | -18 | -18 | -33 |
| Working Capital Days | -9 | -7 | -8 | -4 |
| ROCE % | 52% | 57% | 61% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Business Segment Mix - Clean Air & Powertrain Solutions (% of VAR) % |
|
|||
| Capacity Utilization - Clean Air Cold Ends (Mufflers, Exhaust Pipes) % |
||||
| Capacity Utilization - Clean Air Hot Ends (Catalytic Converters) % |
||||
| Capacity Utilization - Struts & Shock Absorbers % |
||||
| Domestic vs Export Mix - Domestic (% of VAR) % |
||||
| Domestic vs Export Mix - Exports (% of VAR) % |
||||
| End Market Mix - Aftermarket (% of VAR) % |
||||
| End Market Mix - Commercial Vehicles (% of VAR) % |
||||
| End Market Mix - Industrial/Others (% of VAR) % |
||||
| End Market Mix - Passenger Vehicles (% of VAR) % |
||||
| Capacity Utilization - Bearings (Parwanoo) % |
||||
| Capacity Utilization - Spark Plugs (Bhiwadi) % |
||||
| Market Share by Segment and Vehicle Type (FY2025) % |
||||
| Value Market Share - Commercial Vehicle Clean Air Solutions % |
||||
| Value Market Share - Passenger Vehicle Shock Absorbers & Struts % |
||||
| Lifetime Order Book INR million |
||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Please find attached the Earnings Call Transcript for Q2 FY2026-27.
-
Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - ESG Rating
- SES ESG assigned Tenneco Clean Air India an ESG score of 62 based on FY2025-26 data.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Please find attached the newspaper publication for financial results for the quarter and half-year ended September 30, 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 FY27 earnings conference call posted on website.
-
Announcement under Regulation 30 (LODR)-Investor Presentation
- The Investor Presentation for financial results for the quarter and half-year ended September 30, 2026.
Concalls
-
Nov 2026Transcript PPT REC
-
Aug 2026Transcript PPT REC
-
Jun 2026Transcript PPT REC
-
Feb 2026Transcript PPT
-
Dec 2025Transcript PPT REC
Business Ownership[1]
The company is part of the U.S.-based Tenneco Group, a global Tier-1 supplier to major automotive OEMs and the aftermarket.