Tenneco Clean Air India Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 37 | 14689 | 857785 |
| sHNI | 14 | 518 | 205646 | 8753 |
| bHNI | 69 | 2553 | 1013541 | 17506 |
Tenneco Clean Air India Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 27204030 | 30% |
| QIB | 18136020 | 20% |
| HNI | 13602015 | 15% |
| Retail | 31738035 | 35% |
| Total | 90680100 | 100% |
Tenneco Clean Air India About
IPO Details
| Total Issue Size | 90,680,101 shares (aggregating up to ₹3,600.0 Cr) |
| Offer For Sale | 90,680,101 shares (aggregating up to ₹3600.0 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 40,36,04,309 shares |
| Share Holding Post Issue | 40,36,04,309 shares |
Key Performance Indicators (KPI)
| KPI | Jun-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROE | 10.44% | 42.65% | 38.05% |
| ROCE | 16.29% | 56.78% | 45.40% |
| RONW | 13.42% | 46.65% | 33.40% |
| EPS (basic) | 4.16 | 13.68 | 8.9 |
| P/E Pre IPO | 28.97 | ||
| P/E Post IPO | 23.83 |
Company Financial (In ₹Crore)
| Period Ended | Jun-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 2,918.77 | 2,831.58 | 2,136.26 | 2,429.65 |
| Total Income | 1,316.43 | 4,931.45 | 5,537.39 | 4,886.96 |
| Profit After Tax | 168.09 | 553.14 | 416.79 | 381.04 |
| EBITDA | 228.88 | 815.24 | 612.09 | 570.63 |
| NET Worth | 1,250.38 | 1,255.09 | 1,116.59 | 1,378.82 |
| Reserves and Surplus | 1,204.30 | 1,208.76 | 767.26 | 896.05 |
| Total Borrowing | 0.86 |
Peer Comparison (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Tenneco Clean Air India Ltd | 28.97 | 10.00 | |
| Bosch Ltd | 46.21 | 31575.00 | 10.00 |
| Timken India Ltd | 54.61 | 3248.00 | 10.00 |
| SKF India Ltd | 40.2 | 4603.00 | 10.00 |
| ZF Commercial Vehicle Control System India Ltd | 53.71 | 13047.00 | 5.00 |
| Sharda Motor Industries Ltd | 16.92 | 1856.40 | 2.00 |
| Gabriel India Ltd | 34.73 | 592.20 | 1.00 |
| Uno Minda Ltd | 64.51 | 1056.00 | 2.00 |
| Sona BLW Precision Forgings Ltd | 48.12 | 477.35 | 10.00 |
Peer Comparison (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Tenneco Clean Air India Ltd | 31.1 | 46.65 | 13.68 |
| Bosch Ltd | 4683.48 | 15.56 | 683.25 |
| Timken India Ltd | 378.21 | 17 | 59.48 |
| SKF India Ltd | 525.5 | 21.43 | 114.5 |
| ZF Commercial Vehicle Control System India Ltd | 1694.75 | 15.35 | 242.9 |
| Sharda Motor Industries Ltd | 369.92 | 30.46 | 109.71 |
| Gabriel India Ltd | 82.38 | 22.42 | 17.05 |
| Uno Minda Ltd | 99.75 | 17.66 | 16.42 |
| Sona BLW Precision Forgings Ltd | 88.38 | 14.76 | 9.92 |
About Company
Incorporated: 2018
Parent Company: Tenneco Inc. (USA) – a global leader in clean air and powertrain technologies
Business Focus: Designing and manufacturing emission control and powertrain products for the automotive industry
Tenneco Clean Air India operates under the Clean Air division of Tenneco Inc., catering to both light and commercial vehicle manufacturers. The company provides advanced exhaust and after-treatment systems that help OEMs meet stringent emission norms such as Bharat Stage VI. It emphasizes sustainability, innovation, and compliance through strong R&D and engineering capabilities.
Infrastructure & Operations (as of March 31, 2025)
The company has 12 manufacturing facilities across seven states and one union territory in India, comprising seven Clean Air & Powertrain Solutions plants and five Advanced Ride Technology plants.
It employs 145 professionals in design, engineering, and R&D functions, supporting innovation and product development.
Product Portfolio
Clean Air & Powertrain Solutions Division – Includes catalytic converters, diesel particulate filters (DPFs), mufflers, exhaust pipes, and powertrain optimization components.
Advanced Ride Technologies Division – Designs and manufactures shock absorbers, struts, and advanced suspension systems that enhance ride quality and performance.
Strength
Market-Leading Supplier: Tenneco Clean Air India is a leading provider of advanced, highly engineered clean air, powertrain, and suspension solutions for major Indian and global OEMs, holding strong market shares across multiple automotive sub-segments (FY2024).
Diversified Product Portfolio: The company offers a wide range of proprietary and customized products such as catalytic converters, mufflers, exhaust pipes, engine bearings, sealing systems, spark plugs, and advanced suspension systems, well-aligned with evolving industry trends.
Strong Manufacturing Footprint: With 12 strategically located plants across India, supported by a localized supply chain, the company ensures efficient production, reduced logistics costs, and timely delivery to key automotive hubs nationwide.
Weakness
Lack of Firm Volume Commitments: The company’s awarded programs do not include fixed volume commitments from customers, which may lead to lower-than-expected sales and negatively affect financial performance.
Dependence on Emission Regulations: Business growth is highly influenced by government emission policies; any delay or change in implementing stricter emission standards could reduce demand for clean air and powertrain products.
Reliance on Tenneco Group: The company depends on the Tenneco Group for brand licenses, patented designs, technical know-how, and key materials. Any adverse change or termination of this relationship could impact operations and profitability.
Tenneco Clean Air India Lead Manager(s)
Tenneco Clean Air India Address
RNS2,
Nissan Supplier Park SIPCOT Industrial Park,
Oragadam Industrial Corridor Sriperumbudur Taluk,
Kancheepuram, Tamil Nadu, 602105
Phone: +91 124 4784 530
Email: TennecoIndiaInvestors@tenneco.com
Website: http://www.tennecoindia.com/
Tenneco Clean Air India Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083
Tenneco Clean Air India Reviewers
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