Tenneco Clean Air India Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 7 Aug 2026 | Auto Components | Market Cap: ₹23.4K Cr
The company expects a strong double-digit CAGR in revenues over the next three years through FY28, significantly outpacing past growth (5.9% CAGR in FY23-FY25). The company expects a double-digit CAGR in revenues over the next three years, supported by a strong order book providing 100% revenue coverage through FY2028.
From Tenneco Clean Air India Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹576
Market Cap
₹23.4K Cr
P/E Ratio
37.8
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Tenneco Clean Air India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹119 Cr.
Full financials →📊 Revenue & Sales Performance
- →The company expects a strong double-digit CAGR in revenues over the next three years through FY28, significantly outpacing past growth (5.9% CAGR in FY23-FY25).
- →Their order book provides 100% revenue coverage through FY28, giving clear medium-term visibility.
- →Growth drivers include increasing content per vehicle, export momentum, and capturing white space in market share.
- →Exports are expected to grow at a very strong double-digit rate due to improved competitiveness from tariff reductions in the US and EU.
- →Both domestic and export markets will contribute to growth, with exports currently at about 20% of the order book and poised to expand further.
- →Ramp-up of new greenfield plant in Kharkhoda, Haryana, will support capacity to meet doubled-digit CAGR volume growth.
- →Recent strategic wins and RFQs from leading OEMs and improvements in Clean Air and Ride Technologies segments will drive volume and revenue increases.
📈 Profitability & Margins
- →The company expects a double-digit CAGR in revenues over the next three years, supported by a strong order book providing 100% revenue coverage through FY2028.
- →EBITDA margins improved significantly, with a 400 basis points increase over FY23 to FY25, now above 18%. This improvement trend is anticipated to continue due to operational efficiencies and cost management.
- →Profit after tax showed a steady increase, with consistent growth seen in Q3 and 9MFY26, excluding one-time labour code charges.
- →Strong export growth, now about 20% of the order book, is expected to accelerate further due to tariff reductions in the US and EU, which will enhance competitiveness and margins.
- →Capacity expansion with new plant investments (INR 710 million in Kharkhoda) supports growth, with steady-state revenues expected 3.5 to 4 times the capex within 18-24 months.
- →Overall outlook points to sustainable margin improvements and strong profit growth fueled by volume growth, product mix, and export scaling.
🏗️ Capital Expenditure Plans
- →New greenfield plant approved in Kharkhoda, Haryana for Clean Air and Powertrain business.
- →Capex investment of INR 710 million for this plant.
- →Investment to start within the current quarter.
- →Expected ramp-up of the new plant production in Q3 FY27.
- →Plant will enhance operational footprint and customer responsiveness, supporting awarded programs across light vehicles, off-highway, and tractor segments.
- →Capex expected to support strong double-digit CAGR growth for the next three years.
- →Steady-state revenue expected to be 3.5 to 4 times the capex invested.
- →Capacity utilization currently over 90%; investment needed for further ramp-up.
- →Future FY27 capex guidance to be shared soon as budgeting and planning are in progress.
💰 Fundraising & Capital Structure
📋 Order Book & Pipeline
- →The current order book provides 100% revenue coverage through FY 2028, offering clear medium-term visibility with a double-digit CAGR outlook over the next three years.
- →Exports now account for 20% of the total order book, up from 5% noted in the red herring prospectus, showing strong export momentum.
- →The order book is well balanced across Clean Air, Powertrain, and Advanced Ride Technologies.
- →Management plans to publish order book details every six months; the next update is expected around three months after the financial year-end.
- →Recent wins and strong order bookings indicate robust demand both domestically and from exports.
- →The strong order book supports a faster growth trajectory compared to the previous three years (FY23-FY25).
- →The company notes favorable tariff reductions in key export markets (US and EU) are enhancing competitiveness, contributing to export order growth.
Key Metrics
Frequently Asked Questions
What were Tenneco Clean Air India Ltd Q3 FY26 results?
The company expects a strong double-digit CAGR in revenues over the next three years through FY28, significantly outpacing past growth (5.9% CAGR in FY23-FY25). The company expects a double-digit CAGR in revenues over the next three years, supported by a strong order book providing 100% revenue coverage through FY2028.
What is Tenneco Clean Air India Ltd share price analysis?
Tenneco Clean Air India Ltd currently shows a neutral. The stock trades at a P/E of 37.8 with a market cap of ₹23,437 Cr. Investors should review the full earnings analysis for detailed insights.
Is Tenneco Clean Air India Ltd planning capital expenditure?
New greenfield plant approved in Kharkhoda, Haryana for Clean Air and Powertrain business.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.