Tenneco Clean Air
Tenneco Clean Air
Consumer DiscretionaryKey Fundamentals
SmallcapTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- 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%
Weaknesses
1- Stock is trading at 17.1 times its book value
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoTenneco Clean Air India Ltd is a small-cap company with a market cap of ₹20,899 Cr, trading at a PE of 34.6x and a price-to-book of 17.4x. The company delivers a strong ROE of 44% (last year) and maintains a 100% dividend payout with a yield of ~5.0%, while operating in an almost debt-free position with TTM sales growth of 15%.
- Almost debt-free balance sheet provides financial resilience and flexibility, reducing interest burden and insolvency risk
- Exceptional return on equity at 44% last year and a 3-year average ROE of 42%, indicating highly efficient capital deployment
- Attractive dividend yield of ~5.0%, well above the broader market average of ~1.2-1.5%, offering meaningful income to shareholders
- 100% dividend payout ratio signals strong cash generation and a parent company committed to returning capital to minority shareholders
- TTM sales growth of 15% shows an acceleration from the 3-year compounded sales growth of 4%, suggesting improving demand or pricing power
- 3-year compounded profit growth of 18% outpaces the 3-year sales CAGR of 4%, reflecting operating leverage and margin expansion
- As part of the global Tenneco group (now part of DRiV/Öpelika post-merger), the company benefits from technology transfer, global OEM relationships, and established brand credibility in emission control systems
- Stock trades at 17.4x book value, a steep premium that leaves limited margin of safety if earnings disappoint
- PE ratio of 34.6x is elevated for a small-cap auto ancillary, pricing in significant growth that may already be reflected
- Small market cap of ₹20,899 Cr likely implies low liquidity, wider bid-ask spreads, and higher price volatility
- 5-year and 10-year growth data for sales, profit, and stock CAGR are unavailable, making it difficult to assess long-term consistency and durability of returns
- 100% dividend payout leaves zero retained earnings for reinvestment, potentially constraining future organic growth and capex capacity
- Regulatory risk from India's evolving emission norms (BS-VI and beyond) and the long-term shift toward electric vehicles could structurally shrink the addressable market for exhaust and clean air components
- TTM profit growth of 9% has decelerated compared to the 3-year profit CAGR of 18%, suggesting possible margin pressure or one-off cost headwinds
- 52-week high and low data are unavailable (reported as 0), limiting technical and sentiment analysis of recent price behaviour
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- SBI MF acquires 5.2% stake Aug 17
SBI Mutual Fund bought 2,10,63,692 shares via open market on Aug 12, 2026, raising its total holding to 6.1094% of paid-up capital. Institutional accumulation signals confidence in the stock.
- Multiple investor meets scheduled Sep 7
Management scheduled meetings at UBS and Axis Capital conferences (Sep 10-11) and Elara India Dialogue (Sep 2-3) in Mumbai, indicating active engagement with institutional investors.
- 8th AGM held, routine resolutions Aug 28
AGM on Aug 28, 2026 covered adoption of FY26 financials, reappointment of directors, and revision of CEO remuneration. Standard corporate governance proceedings.
- 2 lakh ESOPs granted at ₹10 Aug 21
NRC approved 2,00,453 stock options at ₹10 exercise price under ESOP Scheme 2025, within the shareholder-approved limit of 80,72,086 options.
TL;DR: Tenneco Clean Air India shows no material headwinds in recent news flow. The standout development is SBI Mutual Fund building a 6.1% stake via open market purchases, which reflects growing institutional interest. Management is actively engaging investors across multiple conferences. The near-term outlook is stable, with institutional accumulation and routine corporate actions suggesting steady momentum heading into H2 FY27.
Quarterly Results
| Particulars | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,169 | 1,125 | 1,326 | 1,286 | 1,281 | 1,285 | 1,552 | 1,545 |
| Expenses | 963 | 947 | 1,107 | 1,057 | 1,064 | 1,063 | 1,295 | 1,298 |
| Operating Profit | 205 | 178 | 219 | 229 | 217 | 223 | 257 | 247 |
| OPM % | 18% | 16% | 17% | 18% | 17% | 17% | 17% | 16% |
| Other Income | 1 | 19 | 6 | 31 | 12 | -22 | 11 | 9 |
| Interest | 4 | 5 | 7 | 7 | 11 | 7 | 9 | 8 |
| Depreciation | 25 | 27 | 26 | 25 | 26 | 28 | 29 | 28 |
| PBT | 177 | 165 | 192 | 227 | 192 | 165 | 231 | 219 |
| Tax % | 23% | 24% | 27% | 26% | 22% | 28% | 28% | 25% |
| Net Profit | 137 | 125 | 140 | 168 | 151 | 119 | 167 | 165 |
| EPS in Rs | 6.39 | 5.85 | 3.47 | 4.16 | 3.73 | 2.94 | 4.13 | 4.09 |
Profit & Loss
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|
| Sales | 4,827 | 5,468 | 4,890 | 5,404 | 5,663 |
| Expenses | 4,256 | 4,855 | 4,075 | 4,479 | 4,720 |
| Operating Profit | 571 | 613 | 815 | 925 | 943 |
| OPM % | 12% | 11% | 17% | 17% | 17% |
| Other Income | 59 | 69 | 41 | 32 | 10 |
| Interest | 22 | 25 | 20 | 34 | 35 |
| Depreciation | 101 | 104 | 103 | 108 | 111 |
| PBT | 508 | 553 | 733 | 816 | 808 |
| Tax % | 25% | 25% | 25% | 26% | — |
| Net Profit | 381 | 417 | 553 | 604 | 602 |
| EPS in Rs | 17.8 | 19.46 | 13.68 | 14.95 | 14.89 |
| Div. Payout % | 41% | 46% | 82% | 172% | — |
Balance Sheet
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 313 | 214 | 404 | 404 |
| Reserves | 895 | 766 | 1,206 | 794 |
| Borrowings | 31 | 15 | 20 | 52 |
| Other Liabilities | 1,190 | 1,140 | 1,202 | 1,288 |
| Total Liabilities | 2,429 | 2,135 | 2,831 | 2,537 |
| Fixed Assets | 631 | 608 | 582 | 582 |
| CWIP | 18 | 37 | 31 | 58 |
| Investments | 1 | 1 | 0 | 0 |
| Other Assets | 1,779 | 1,490 | 2,218 | 1,897 |
| Total Assets | 2,429 | 2,135 | 2,831 | 2,537 |
Cash Flow
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Operating | 538 | 488 | 562 | 1,429 |
| Investing | -13 | -30 | -27 | -69 |
| Financing | -394 | -686 | -433 | -1,075 |
| Net Cash Flow | 130 | -228 | 103 | 285 |
| Free Cash Flow | 475 | 391 | 500 | 1,345 |
| CFO/OP | 118 | 98 | 93 | 190 |
Ratios
| Particulars | 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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32 extracted metrics + investor summaries across FY23–FY26.
Documents
Frequently Asked Questions about Tenneco Clean Air
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Company Information
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]
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