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Tenneco Clean Air India Ltd (TENNIND)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544612 NSE: TENNIND Auto Ancillary | Small Cap | Tenneco Clean Air Share Price

₹512.85 6.90 (1.36%)

As on 15-Sep'26 16:59

Tenneco Clean Air India Ltd (TENNIND)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544612 NSE: TENNIND Auto Ancillary | Small Cap | Tenneco Clean Air Share Price

₹512.85 6.90 (1.36%)

As on 15-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹20,699 Cr.
Current Price
₹512.9
52-Week Low / High
₹438 / 657
TTM EPS
₹14.9
TTM Sales
₹5,663 Cr.
Book Value per Share
₹33.8
P/E Ratio
34.45
Lower than its 5-year historical median
Industry PE
47.7
Price to Book (P/B)
15.19
Higher than its 5-year historical median
Price to Sales (P/S)
3.65
Lower than its 5-year historical median
EV/EBITDA
20.56
Lower than its 5-year historical median
Dividend Yield
5.01%
Profitability Efficiency
Return on Equity (ROE)
43.06%
Return on Capital Employed (ROCE)
58.84%
Return on Assets (ROA)
22.73%
Operating Profit Margin
17.1%
Net Profit Margin
11.18%
Gross Profit Margin
17.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
2.31%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
13.55%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
9.26%
Asset Quality
Promoter Holding
74.79%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹959 Cr.
Equity
₹403.6 Cr.
Face Value
₹10
All Time Low / High
₹437.85 / 656.95

Tenneco Clean Air India stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Overvalued

Price Trend

Weak
Q.1 Is Tenneco Clean Air India Ltd a good quality company?
Tenneco Clean Air India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Tenneco Clean Air India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Tenneco Clean Air India Ltd vs industry peers?
Tenneco Clean Air India Ltd revenue CAGR is 3.83%, compared to the industry median CAGR of 2.67%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Tenneco Clean Air India Ltd?
Promoters hold 74.79% of the Tenneco Clean Air India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Tenneco Clean Air India Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Tenneco Clean Air India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 61%90.2%13.7%22.3%-
Value Creation
Index
4.47.00.21.0-

Growth Parameters

Sales 2,4813,0572,2372,2892,369
Sales YoY Gr.-23.2%-26.8%2.3%-
Adj EPS 6.111.57.629.929.3
YoY Gr.-89%-34%293%-
BVPS (₹) 1415.7145.5149.6151.9
Adj Net
Profit
1912473071,2071,181
Cash Flow from Ops. 261248420352-
Debt/CF from Ops. 0000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA-2.7%2.3%
Adj EPS NANA69.9%293%
BVPSNANA120.3%2.8%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
43.563.89.920.319.4
Op. Profit
Mgn %
12.712.920.920.520.2
Net Profit
Mgn %
7.78.113.752.849.9
Debt to
Equity
0000-
Working Cap
Days
069818158
Cash Conv.
Cycle
0-9-19-3117

Valuation of Tenneco Clean Air - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'23Mar'24Mar'25Mar'26
Sales4,8275,4684,8905,404
Operating Expenses + 4,2584,8564,0774,481
Manufacturing Costs430601430451
Material Costs3,4383,8923,2213,510
Employee Cost 249253298337
Other Costs 141110128183
Operating Profit 569612813923
Operating Profit Margin (%) 11.8%11.2%16.6%17.1%
Other Income + 61704361
Exceptional Items 000-27
Interest 22252034
Depreciation 101104103108
Profit Before Tax 508553733816
Tax 127136180211
Profit After Tax 381417553604
PAT Margin (%) 7.9%7.6%11.3%11.2%
Adjusted EPS (₹)12.219.513.715.0
Dividend Payout Ratio (%)25.60%46.10%82.10%171.70%
PARTICULARSMar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,0197911,6101,197
Share Capital 313214404404
Reserves 7055761,206794
Debt +66485028
Long Term Debt0000
Short Term Debt66485028
Minority Interest1123
Trade Payables8948738361,038
Others Liabilities 441411311241
Total Liabilities 2,4212,1242,8102,508

Fixed Assets

Net Fixed Assets +631608582582
Gross Block1,0201,0831,1531,237
Accumulated Depreciation389476571655
CWIP 18373158
Investments 1100
Inventories395329278338
Trade Receivables563560687635
Cash Equivalents 413184286571
Others Assets 401406945323
Total Assets 2,4212,1242,8102,508
PARTICULARSMar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 5384885621,429
PBT 508553733816
Adjustment 90629094
Changes in Working Capital 74-12-65849
Tax Paid -135-116-195-329
Cash Flow From Investing Activity + -13-30-27-69
Capex -63-97-63-84
Net Investments -10-22
Others 50663814
Cash Flow From Financing Activity + -394-686-433-1,075
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 0000
Interest Paid -20-24-18-28
Dividend Paid -280-559-409-1,037
Others -94-103-5-11
Net Cash Flow 130-228103285
PARTICULARSMar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)37.4146.0846.0943.06
ROCE (%)41.5550.2456.0258.84
Asset Turnover Ratio1.992.4122.03
PAT to CFO Conversion(x)1.411.171.022.37
Working Capital Days
Receivable Days42.6037.5046.2044.60
Inventory Days29.9024.2022.5020.80
Payable Days94.9082.9096.9097.50

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Tenneco Clean Air India Ltd FAQs

The current trading price of Tenneco Clean Air on 15-Sep-2026 16:59 is ₹512.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 14-Sep-2026 the market cap of Tenneco Clean Air stood at ₹20,698.9 Cr

The latest P/E ratio of Tenneco Clean Air as of 14-Sep-2026 is 17.52.

The latest P/B ratio of Tenneco Clean Air as of 14-Sep-2026 is 3.38.

The 52-week high of Tenneco Clean Air is ₹657.0 and the 52-week low is ₹437.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tenneco Clean Air is ₹2,369 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tenneco Clean Air India Ltd is a average quality company.

The key valuation ratios of Tenneco Clean Air India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Tenneco Clean Air India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Tenneco Clean Air India Ltd

Tenneco Clean Air India was originally incorporated as ‘Tenneco Clean Air India Private Limited’ at Chennai, Tamil Nadu, India, as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated December 21, 2018, issued by the Central Registration Centre on behalf of the Registrar of Companies, Tamil Nadu and Andaman at Chennai (RoC). Subsequently, the company was converted into a public limited company pursuant to a resolution passed by its Board on February 18, 2025, and a special resolution passed by its Shareholders on February 21, 2025, and consequently the name of the company was changed to ‘Tenneco Clean Air India Limited’. A fresh certificate of incorporation consequent upon conversion to public company dated May 16, 2025 was issued by the Central Processing Centre on behalf of the RoC.

The company is part of the Tenneco Group, a U.S. headquartered key global Tier I automotive component supplier. Its first manufacturing plant in India was established in 1979 at Parwanoo. It manufactures and supplies critical, highly engineered and technology intensive clean air, powertrain and suspension solutions tailored for Indian OEMs and export markets. Its customer base spans across OEMs who use its products in: (i) passenger vehicles (PVs), (ii) commercial vehicles (CVs), which comprises commercial trucks (CTs) and off-highway vehicles (OHs), and (iii) industrial and other applications, which comprises generator sets, small commercial vehicles, two wheelers and three wheelers (Industrial/Others).

It operates two business divisions: Clean Air & Powertrain Solutions and Advanced Ride Technologies. The Clean Air & Powertrain Solutions division comprises (i) Clean Air Solutions, where it designs, manufactures and sells exhaust aftertreatment systems, such as catalytic converters, mufflers and exhaust pipes to OEMs (Clean Air Solutions); and (ii) Powertrain Solutions, where it designs, manufactures and sells engine bearings, sealing systems and ignition products (such as spark plugs and ignition coils) to OEMs and the aftermarket under the Champion brand (Powertrain Solutions). The Advanced Ride Technologies division designs, manufactures and sells shock absorbers, struts and advanced suspension systems under the Monroe brand to OEMs and the aftermarket (Advanced Ride Technologies). These products are used for both internal combustion engine (ICE) vehicles and electric vehicles (EVs).

Business area of the company

Tenneco Clean Air India along with its Subsidiaries is engaged in the manufacture and supply of automotive components, shock absorbers, struts, catalytic converters, mufflers and exhaust pipes. It operates two business divisions: Clean Air & Powertrain Solutions and Advanced Ride Technologies.

Products of the company

Clean Air Solutions

  • Catalytic converter with diesel oxidation catalysts (DOC) and selective catalytic reduction converter (SCR)-coated diesel particulate filters (SDPF)
  • Catalytic converter for small commercial vehicles with DOC – Diesel particulate filters (DPFs) and SCR
  • Muffler & Exhaust pipes
  • Exhaust aftertreatment system for CTs (Inline)
  • Exhaust aftertreatment system for CTs (Box)
  • Exhaust aftertreatment system for Ohs

Powertrain solutions

  • Main bearing
  • Bush bearing
  • Flange bearing
  • Ignition – Spark Plug and Ignition Coil
  • Shock and strut assembly – CV
Advanced ride technologies

  • Shock absorber and strut assembly
  • Shock absorber and strut assembly - passive
  • Shock absorber and strut assembly - semi active
  • Shock and strut assembly - CV

Awards, accreditations and recognition

  • 2011: Received an award in recognition of ‘Good Parts Quality during 2011-12’ from Renault Nissan.
  • 2019: Award as a winner under the ‘partnership’ category for the year 2019 at the DICV Supplier Meet 2021 by Daimler India Commercial Vehicles Private Limited.
  • 2019: Awarded for ‘Achieving Excellence - Partner Level Performance’ by John Deere.
  • 2021: Award for ‘contribution in supply chain management’ by VECV at the Annual Supplier Conference 2021.
  • 2022: Certificate of appreciation for ‘achieving zero PPM for the year 2021’ at DICV Suppliers Meet 2022 by Daimler India Commercial Vehicles.
  • 2022: Certificate of appreciation in recognition of ‘superior performance in the area of part design and development (supplier design category) in the year 2021-22’ by Maruti Suzuki India Limited.
  • 2022: Certificate of appreciation in recognition of ‘superior spares performance in the year 2021-22’ by Maruti Suzuki India Limited.
  • 2023: ‘Gold award for Case Study Presentation’ at the Supplier Quality Improvement Contest by Kirloskar Oil Engines Limited.
  • 2023: Received a recognition for ‘partnership in development of new product platform’ at the Supplier Conference 2023 by Kirloskar Oil Engines Limited.
  • 2024: Award for ‘Excellence in Supplier Mentoring’ by Daimler India Commercial Vehicles.
  • 2024: Gold award for poster, slogan and case study by Quality Circle Forum of India at Safety Week - Pune circle.
  • 2024: Received the ‘Appreciation award KIA India Partnership Day’ from KIA.
  • 2024: Certificate of appreciation in recognition of ‘superior performance in the area of spares performance in the year 2023-24’ by Maruti Suzuki India Limited.
  • 2024: Certificate of appreciation in recognition of ‘supplier collaboration initiatives for co-learning through exemplary sharing of best practices’ from Maruti Suzuki India Limited.
  • 2024: Award for ‘On-Field Support and Collaboration’ by Maruti Suzuki India Limited.
  • 2024: Received the ‘Supplier Appreciation Award’ at Mahindra Supplier Excellence Awards.
  • 2024: Certificate of appreciation for ‘being a reliable partner and achieving quality excellence during the year 2023’ by Isuzu Motors India at Supplier Performance Awards 2024.
  • 2024: ‘Platinum Award for Consistent Quality Performance’ by Ashok Leyland.
  • 2024: Certificate of appreciation for ‘excellent support for components supplied during volume ramp-ups of G-12 engines during July 2024’ by Mahindra.
  • 2024: Awarded the ‘Super 8 Participant in Regional Supplier Samrat FY - 2024’ at the Supplier Samrat - FY24 by Ashok Leyland.
  • 2025: Gold award for case study by Quality Circle Forum of India at Safety Week – Pune circle.
  • 2025: Received the ‘Innovation Award – Automotive Division at the Mahindra Supplier Excellence Awards.
  • 2025: Recognised as ‘Q-Prime supplier for achieving end-to-end quality excellence’ by Daimler India Commercial Vehicles.
  • 2025: Awarded as ‘Super 8 Participant in Regional Supplier Samrat – FY 25’ at the Supplier Samrat – FY25 by Ashok Leyland.
  • 2025: Received the ‘Eco Edge Progressive’ certificate in recognition ‘as a value chain partner of Skoda Auto Volkswagen India Private Limited, for demonstrating dedication with continuous progress to integrate sustainability in its operations’, by CII-ITC Centre of Excellence for Sustainable Development, Confederation of Indian Industry.
  • 2025: Award on achieving 90% reduction in straight pass loss through Samunnati Drive by VE Commercial Vehicles Limited.
  • 2025: Silver award for best performance in quality at the Supplier Meet 2025 by Albonair.
  • 2025: Appreciation award for ‘dedication and commitment to excellence in 2024’ on partnership day by Hyundai Motor India Limited.
  • 2025: Award as a winner under the ‘quality’ category for the year 2024 at the Annual Supplier Meet.
  • 2025 by the Daimler India Commercial Vehicles.

History and milestones

  • 1979: Its Parwanoo Facility, currently operating under its Powertrain Solutions business for manufacturing of its ‘bearings’ products, was established. 
  • 1983: Its Hosur Facility, currently operating under its Advanced Ride Technologies division for manufacturing of its ‘ART’ products, was established
  • 1997: Its Chakan Sealings Facility, currently operating under its Powertrain Solutions business for manufacturing of its ‘sealings’ products, was established.
  • 1999: Its Bhiwadi Facility, currently operating under its Powertrain Solutions business for manufacturing of its ‘ignitions’ products, was established.
  • 2000: Its first plant for manufacturing of ‘Clean Air Products’ was established at Nagar Road, Pune, Maharashtra. 
  • 2006-2007: Its first dorst press for sintered components was installed in its Puducherry Facility
  • 2010: Its Chennai Facility, currently operating under its Clean Air Solutions business for manufacturing of its ‘Clean Air Products’ products, was established.
  • 2018: Acquisition of Federal Mogul entities by the Tenneco Group.
  • 2019: Its Pithampur Facility, currently operating under its Clean Air Solutions business for manufacturing of its ‘Clean Air Products’ products, was established.
  • 2023: Launched the BS6.2 solutions at Chakan I Facility, Chakan II Facility, Chennai Facility and Pithampur Facility.
  • 2024: Introduced new generation shock absorber for the SUV and EV segment.
  • 2025: Acquisition of Federal-Mogul Sealings India Limited, Federal-Mogul Bearings India Limited, Federal-Mogul Ignition Products India Limited and Tenneco Automotive India Private Limited pursuant to share swap agreements each dated March 25, 2025.

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