Financial Highlights (INR Millions)

Q2 FY'27 Performance

  • Revenue from operations: ₹17,183 million (34.2% YoY growth from ₹12,806 million in Q2 FY'26)
  • Value-added revenue (VAR): ₹15,229 million (32.2% YoY growth from ₹11,515 million)
  • Clean Air & Powertrain Solutions VAR: ₹7,218 million (26.6% YoY growth)
  • Advanced Ride Technologies VAR: ₹8,010 million (37.8% YoY growth)
  • EBITDA: ₹2,616 million (20.7% YoY growth from ₹2,168 million)
  • EBITDA margin on VAR: 17.2% (declined 165 bps from 18.8% in Q2 FY'26)
  • PAT: ₹1,734 million (15.0% YoY growth from ₹1,507 million)
  • PAT margin on VAR: 11.4% (declined 170 bps from 13.1%)

H1 FY'27 Performance

  • Revenue from operations: ₹32,631 million (27.2% YoY growth from ₹25,663 million in H1 FY'26)
  • Value-added revenue: ₹29,044 million (25.3% YoY growth from ₹23,181 million)
  • Clean Air & Powertrain Solutions VAR: ₹13,843 million (17.8% YoY growth)
  • Advanced Ride Technologies VAR: ₹15,201 million (32.9% YoY growth)
  • EBITDA: ₹5,085 million (14.1% YoY growth from ₹4,457 million)
  • EBITDA margin on VAR: 17.5% (declined 172 bps from 19.2% in H1 FY'26)
  • PAT: ₹3,386 million (6.2% YoY growth from ₹3,188 million)
  • PAT margin on VAR: 11.7% (declined 209 bps from 13.8%)

Notes on Financial Performance

  • VAR (value-added revenue) excludes pass-through substrate costs and is the company's primary performance metric
  • Q2 FY'27 EBITDA margin was affected by significant inflationary increases due to geopolitical situation and costs of moving from private to listed public company
  • Q2 FY'26 PAT included one-time interest income related to Motocare entity sale amounting to ₹67 million (Net of tax)
  • H1 FY'26 PAT included one-time interest income related to Motocare entity sale amounting to ₹254 million (Net of tax)
  • PAT growth for Q2/H1 FY'27 excluding this one-off interest income is approximately 20.4%/15.4% respectively
  • Volumes grew 25.4% in Q2 and 20.7% in H1 in line with served market growth

Business Highlights and Operational Updates

Capacity Expansion

  • New Clean Air manufacturing plant announced in West India with capital expenditure of approximately ₹450 million
  • This is in addition to the North India plant announced in FY'26

Order Book and Business Visibility

  • Overall booked business covers more than 100% of company's FY'30 revenue plan
  • Total order book: approximately ₹165,000 million
  • Order book split: 35% Clean Air & Powertrain, 65% Advanced Ride Technologies
  • Export programs contribution: approximately ₹8,750 million
  • Order book enhances revenue visibility over next 5-6 years approximately

Advanced Ride Technologies (ART) Performance

  • Maintained market leadership with approximately 55% share of entire PV market in H1 FY'27 (source: Crisil Report)
  • Major conquest win with leading Indo-Chinese JV, gaining content on three new vehicle platforms
  • Entered three-wheeler (3W) segment, winning suspension business for Indo-Korean JV
  • Grew DCx DaVinci production volumes with 3-Door Thar suspension program
  • Secured two next-generation models with existing leading Japanese PV OEM
  • Scaling up with Vietnamese OEM across three new platforms
  • Demonstrated advanced technology leadership by locally producing India's first semi-active CVSAe

Clean Air & Powertrain Performance

  • Maintained market leadership with approximately 59% share of entire CT market in H1 FY'27 (source: Crisil Report)
  • Introduced new commercial vehicle exhaust program (hot end) with leading Indian CV OEM
  • Strategic entry into CNG market with cold-end assembly program for European PV
  • Expanded customer wallet share with new spark plug award from European PV manufacturer
  • Growing spark plug order book

Awards and Recognition

  • Won Economic Times "Best Manufacturing Brand 2026" award
  • Won "National Green Future Leadership" award at National CSR Leadership Congress for Excellence

Management Commentary

Arvind Chandra, Whole-Time Director and CEO, stated that strong momentum continued through Q2 and H1 FY'27 driven by overall market growth, market share gains, and disciplined execution across the business. The company deepened customer relationships and expanded technology footprint across both ART and CA/PT segments. The growing competitive strength is reflected in continued order book providing revenue visibility exceeding 100% of FY'30 target revenues, underpinning healthy double-digit CAGR trajectory. The company continues to invest in capacity expansion, localization, and innovation to support future growth.

Company Background

Tenneco Clean Air India Limited is part of the Tenneco Group, a US-headquartered global Tier-1 automotive component supplier. The company manufactures and supplies clean air, powertrain and suspension solutions to Indian OEMs and export market. Portfolio includes catalytic converters, diesel particulate filters, SCR systems, mufflers, exhaust pipes, after-treatment systems, bearings, sealings, spark plugs, strut assemblies and shock absorbers. Operates 12 manufacturing facilities and two R&D centres in key automotive OEM hubs in India.

Forward-Looking Statements

Certain statements concerning future growth prospects, order book, export targets, capacity plans and capital expenditure are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially. The company does not undertake to update any forward-looking statement.