Automotive component manufacturer Tenneco Clean Air India has announced its financial results for the Q4 and FY2026. The company, which supplies emission controls, powertrains and suspension systems to original equipment manufacturers (OEMs), reported a value-added revenue (VAR) increase of 17.5 percent YoY for Q4 and 12.3 percent for the full fiscal year.

The company said it utilises value-added revenue as its primary performance metric to exclude pass-through substrate costs from its operations.

For Q4, value-added revenue reached INR 14,058 million, up from INR 11,963 million in the corresponding quarter of the previous fiscal year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter stood at INR 2,573 million, representing an 18.3 percent margin on value-added revenue. Profit after tax (PAT) for Q4 grew 19 percent YoY to INR 1,668 million, yielding an 11.9 percent margin.

For FY2026, total value-added revenue rose to INR 54,040 million compared to INR 48,904 million in FY2025. Full-year EBITDA reached INR 9,255 million, establishing a margin profile of 18.8 percent. Annual profit after tax concluded at INR 6,044 million, equivalent to a 12.3 percent margin, while return on capital employed (ROCE) increased to 94 percent from 57 percent in the prior fiscal year.

The company's revenue streams are divided across two core business segments:

• Clean Air & Powertrain Solutions: Generated INR 6,905 million in Q4 FY2026 and INR 49,180 million for the full fiscal year.
• Advanced Ride Technologies (ART): Generated INR 7,153 million in Q4 FY2026 and INR 24,885 million for the full fiscal year.

The total cumulative lifetime order book, excluding programs already in active commercial production, reached INR 124,000 million as of 31 March 2026. This order volume encompasses the revenue targets set by management for the fiscal year 2028.

During the fiscal year, Tenneco India secured several development contracts across its operating divisions, including the selection of its advanced suspension system for a vehicle platform by an Indian SUV manufacturer.

Additional contracts were signed with a Japanese passenger vehicle manufacturer for emission systems, a European commercial vehicle manufacturer for aftertreatment solutions and an Indian commercial vehicle manufacturer for an engine platform. The company also executed a technology proof-of-concept for a Euro VII emission control layout with a European truck manufacturer and secured a contract for bearing systems with a Japanese passenger car OEM.

To accommodate current order volumes, the company has approved a total capital expenditure allocation of INR 1,400 million. The investment framework funds the construction of two production sites: a greenfield manufacturing plant for Clean Air Systems located in North India, alongside a greenfield facility for Advanced Ride Technologies located in West India.

Arvind Chandra, Whole-Time Director and CEO, Tenneco India, said, “Over the past few years, the team has worked diligently to build a resilient, diversified and execution led business model. This was clearly demonstrated during the quarter and the year under review. Despite geopolitical headwinds since the end of February 2026 and the incremental overheads associated with becoming a listed entity, the team delivered a FY2026 double-digit topline growth at 12 percent and, more importantly, a strong operating performance with the highest-ever EBITDA margin at 18.8 percent. Supported by a strong and expanding order book, we continue to proactively scale our manufacturing capabilities to meet rising customer demand. In addition to the recently announced expansion in Northern India of INR 710 million, we plan to expand our manufacturing presence in Western India with an investment of INR 690 million, leading to a total of INR 1,400 million. These strategic capacity additions position us well to capture incremental growth opportunities, strengthen customer partnerships and support long term value creation. We recently completed a strategic Proof of Concept with a leading European Truck OEM for a Euro VII–compliant Clean Air solution, thereby strengthening capabilities in advanced emission technologies and readiness for future legislations. Also, we were honoured with the Zero-Defect Supplier Award by Toyota in the ART business, underscoring our commitment to operational excellence. In addition, we secured a strategic entry into the engine bearings business at a leading Japanese OEM, due to superior product technology, better quality and longstanding business relationship across other product verticals. Our H2 FY2026 order book addition stands at INR 60,254 million. Combined with the previously announced H1 order book, net of orders currently under production, the incremental lifetime order book reached INR 124,000 million as of March 31, 2026. This robust order book provides strong revenue visibility covering more than 100 percent of FY28 target revenues underpinning a healthy double-digit CAGR trajectory.”

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Belrise Industries (formerly Badva Engineering) has signed a License and Technical Assistance Agreement with Japan-based Yamato Co, to manufacture and supply filtration and air intake solutions in India.

The partnership grants Belrise access to technical expertise for the design, development, testing and production of air filters, oil filters and resin air intake manifolds targeted at automotive and industrial original equipment manufacturers.

The arrangement combines Yamato's filtration technologies and material know-how in converting intake manifolds from metal to resin with Belrise's manufacturing operations and OEM relationships. The initiative aims to support localisation and develop a domestic supply ecosystem for advanced automotive and industrial components in India.

Sumedh Badve, President of Strategy at Belrise Industries, said, "At Belrise, we are focused on expanding our engineering capabilities, embracing advanced technologies and delivering greater value to our customers. Our collaboration with Yamato reflects this approach, combining specialised technical know-how with our established manufacturing strengths to broaden our product portfolio and support the localisation of advanced solutions. This partnership will further strengthen our ability to serve automotive and industrial OEMs while advancing our commitment to world-class manufacturing, continuous innovation and sustainable growth."

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Gulf Oil Lubricants India, part of the Hinduja Group, has initiated celebrations marking 125 years of its global brand and announced plans to increase its manufacturing capacity by 70 percent.

The company has announced its ambition to increase production output to 240 million litres by March 2027. Furthermore, the Hinduja Group company is expanding its operations beyond lubricants into electric vehicle infrastructure, software, data-centre cooling and fluid engineering.

Operating across 100 countries, the Indian unit currently functions alongside 50 original equipment manufacturers and utilises an R&D facility located in Chennai. As part of its anniversary program, the company unveiled a campaign film featuring cricketer MS Dhoni and announced an initiative launched by cricketer Smriti Mandhana aimed at training 125,000 women for roles in the mobility sector, including driving and vehicle maintenance.

Sanjay Hinduja, Chairman, Gulf Oil International, said, "Gulf’s 125-year legacy is a story of evolution, built on the strength of its values and the trust it has earned across generations. Across the more than 100 countries we operate in, India has been one of our fastest growing and most consistent markets for over 15 years. It holds significant opportunity to accelerate growth, by strengthening our leadership in lubricants while building new avenues in value-added services, e-mobility and other allied areas on the strategic fit. We intend to lead this journey with superior and cleaner technologies, bold innovation and a workforce built for tomorrow. India’s growth story will be an important part of Gulf’s next phase."

Ravi Chawla, Managing Director and Chief Executive Officer, Gulf Oil Lubricants India, said, "Our 125th anniversary is a testament to our commitment, bold decisions, relentless innovation and enduring partnerships. As we celebrate this milestone, we are also defining where we want to go next. While looking ahead to an evolving future, these partnerships will matter more than ever. ‘Born to be Behad’ reflects who we have always been, a brand that goes beyond the limits set for it. Going forward, our brand platform, ‘Kuch Behad Kar’, will carry that spirit into everything we do."

Aarthy Sridhar, Chief Marketing Officer, Gulf Oil Lubricants India, said, "Smriti has shown what happens when the field opens for women in cricket, the talent was always there; it just needed the space. Now it is time for mobility, where women continue to be under-represented. With Generation Behad, we want to create that space, helping women train for and step into roles from behind the wheel to under the bonnet."

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Mumbai-headquartered lubricant major Castrol India has reported its financial results for Q3 CY2026 and 9 months ended 30 September 2026, recording a revenue from operations of INR 17.35 billion for the quarter, representing a growth of 27 percent YoY.

For Q3 CY2026, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) fell 19 percent YoY to INR 2.62 billion, influenced by raw material cost inflation and currency movements.

Profit before tax for the quarter stood at INR 2.43 billion, down from INR 3.08 billion in Q3 of CY2025, while profit after tax reached INR 1.76 billion compared to INR 2.28 billion in the prior-year period.

Over the 9-month period from January to September 2026, revenue from operations grew 20 percent to INR 51.51 billion, up from INR 42.82 billion in 9-months of 2025. The EBITDA grew by 11 percent to INR 10.86 billion, with profit after tax rising to INR 7.66 billion from INR 7.05 billion in the corresponding period of 2025.

During the quarter, Castrol India expanded its distribution network to approximately 167,000 outlets, including 46,000 rural touchpoints. Its service network expanded to over 870 Castrol Auto Service centres, 37,000 independent bike workshops, 16,000 multi-brand workshops and 1,000 Rural Service Express locations.

The industrial business added 700 customers across automotive, machinery, metals, aerospace, and sugar sectors, alongside 175 additions in automotive and mining segments. Product introductions during the period included Magna CTX circulating oils and localised versions of Castrol Engine Shampoo and Hysol XBB metalworking fluids.

Saugata Basuray, Managing Director of Castrol India, said, "In a quarter marked by a sharp rise in raw material costs and adverse currency movements, Castrol delivered a resilient performance. Pricing actions taken early in the year helped moderate the impact on margins, while we continued to invest in expanding our distribution network in rural India and accelerating our industrial business, which delivered another quarter of double-digit volume growth."

Mrinalini Srinivasan, CFO, Castrol India, said, "Our EBITDA grew 11 percent over 9 months, supported by pricing action we took early in the year. As communicated in August, we expect the operating environment to remain volatile and inflationary. We will act with agility to manage margin pressures through pricing and cost actions, while remaining focused on growing market share across every segment in which we operate."

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Tsuyo Manufacturing has entered into a technical collaboration with Suzhou Lvkon Transmission Technology (LvKON) to develop and manufacture electric drive systems for commercial vehicles in India.

Building on a five-year operational relationship, the partnership combines Tsuyo's domestic manufacturing presence and relationships with vehicle manufacturers with LvKON's engineering expertise in commercial vehicle drivetrains.

As part of its expansion strategy, Tsuyo is advancing plans for a 24-acre manufacturing facility to serve as an integrated platform for electric powertrain engineering, production, testing, and validation. The collaboration focuses on the development and industrialisation of electric motors, transmissions, integrated drive systems and electronic control units for trucks, buses, and other commercial applications.

Under the agreement, LvKON will support Tsuyo across product engineering, design validation, manufacturing processes, testing protocols and aftersales infrastructure to shorten development cycles and scale commercialisation.

Vijay Kumar, Founder and CEO, Tsuyo Manufacturing, said, "LvKON brings established expertise in electric drive systems for new energy commercial vehicles, with capabilities spanning drive motors, transmissions, control systems, and integrated product development. Its experience across commercial vehicle applications provides a valuable technological foundation for addressing the performance, durability, efficiency, and reliability requirements of demanding operating environments. With LvKON's technology and industrialisation support, the aim is to establish world-class capabilities in electric drive systems and create a scalable foundation for developing and supplying next-generation solutions for India's commercial mobility sector."

Eric, Director of International Sales at LvKON, said, "For the Indian electric commercial vehicle market, LVKON believes that its development potential is enormous. Based on the rapid development of the current Indian market, LvKON also hopes to play an important role in this rapid development process. We have a very professional technical team that can respond quickly to the differentiated needs of the Indian market and efficiently complete customised design and production work. Once again, I would like to express my affirmation of the long-term development of the Indian market. Let us grow together and work together to support the development of the Indian commercial vehicle market."

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