Tenneco Clean Air India capex rises nearly fivefold in H1

Tenneco Clean Air India Limited lifted purchases of property, plant and equipment, including capital work in progress and capital advances, to Rs 119.059 crore in the six months ended 30 September 2026, from Rs 24.592 crore a year earlier, while cash and cash equivalents reached Rs 914.627 crore. The reported capital-asset spending was 4.84 times the prior-year amount.

How much did Tenneco Clean Air India spend on capital assets?

Tenneco Clean Air India spent Rs 119.059 crore on property, plant and equipment, including capital work in progress and capital advances, in the six months ended 30 September 2026. This was Rs 94.467 crore higher than the Rs 24.592 crore reported for the six months ended 30 September 2025. The cash-flow statement combines fixed-asset purchases, capital work in progress and capital advances in one line, without disclosing an allocation among those items.

Capital work in progress rose to Rs 152.75 crore at 30 September 2026 from Rs 58.065 crore at 31 March 2026, an increase of Rs 94.685 crore. This closing-balance movement accompanied the increase in first-half spending, although capital work in progress is a balance-sheet measure and purchase of capital assets is a cash-flow measure.

What changed in Tenneco Clean Air India's asset base?

Tenneco Clean Air India's total assets increased to Rs 3,042.376 crore at 30 September 2026 from Rs 2,537.091 crore at 31 March 2026. Non-current assets rose by Rs 116.716 crore to Rs 926.116 crore, including the higher capital work in progress and a Rs 44.378 crore increase in other non-current assets to Rs 147.319 crore.

Property, plant and equipment declined to Rs 482.669 crore from Rs 507.703 crore over the six months, while right-of-use assets fell by Rs 11.988 crore to Rs 61.625 crore. The contrasting movements mean the increase in capital work in progress, rather than completed property, plant and equipment, was the principal contributor to the change in non-current assets.

Current assets reached Rs 2,116.260 crore at 30 September 2026, compared with Rs 1,727.691 crore at 31 March 2026. Inventories rose by Rs 97.592 crore to Rs 435.973 crore, trade receivables remained broadly unchanged at Rs 634.627 crore versus Rs 634.833 crore, and cash and cash equivalents increased by Rs 343.401 crore.

How did Tenneco Clean Air India build its cash balance?

Tenneco Clean Air India generated net operating cash inflow of Rs 467.724 crore in the six months ended 30 September 2026, compared with Rs 1,122.024 crore in the year-earlier period. Cash generated from operations was Rs 593.326 crore before net income taxes paid of Rs 125.602 crore; in the previous first half, net taxes paid were Rs 248.680 crore.

Working-capital movements differed between the two periods. Financial and other assets contributed Rs 12.022 crore of cash in the 2026 half-year, compared with Rs 789.459 crore a year earlier, while inventories used Rs 97.593 crore, compared with Rs 22.209 crore. Higher trade payables supplied Rs 130.617 crore of cash, up from Rs 78.262 crore in the previous period.

Cash and cash equivalents closed at Rs 914.627 crore on 30 September 2026, up from Rs 571.226 crore on 31 March 2026 and Rs 367.694 crore on 30 September 2025. Bank deposits with an original maturity of less than three months accounted for Rs 817.559 crore of the September 2026 total, while bank current-account balances represented Rs 97.068 crore.

Why did Tenneco Clean Air India's investing cash flow turn negative?

Tenneco Clean Air India recorded a net investing cash outflow of Rs 101.395 crore in the six months ended 30 September 2026, compared with a net inflow of Rs 17.744 crore a year earlier. The Rs 119.059 crore of capital-asset purchases was partly offset by Rs 18.024 crore of interest received and Rs 28.5 lakh of proceeds from property, plant and equipment sales.

In the prior-year half, interest received was Rs 41.768 crore and property, plant and equipment sales generated Rs 65.6 lakh. Margin-money deposits of Rs 51.202 crore and redemptions of Rs 51.114 crore were nearly offsetting in that period; in the latest half, the group invested Rs 62.3 lakh in fixed deposits and other bank deposits and placed Rs 2.2 lakh as margin money.

What were Tenneco Clean Air India's financing cash flows and liabilities?

Tenneco Clean Air India had financing cash outflow of Rs 22.928 crore in the six months ended 30 September 2026, compared with Rs 1,057.972 crore a year earlier. The latest outflow comprised Rs 15.865 crore of interest paid, Rs 1.901 crore of interest on lease liabilities and Rs 5.162 crore of lease-liability repayments, while the prior-year period included Rs 1,036.585 crore of dividends paid.

Total liabilities increased to Rs 1,502.466 crore at 30 September 2026 from Rs 1,336.562 crore at 31 March 2026. Current liabilities rose to Rs 1,402.410 crore from Rs 1,217.264 crore, including trade payables to creditors other than micro enterprises and small enterprises of Rs 997.953 crore, compared with Rs 891.885 crore, and vendor bill financing of Rs 32.024 crore, compared with Rs 28.313 crore.

Total equity rose to Rs 1,539.910 crore from Rs 1,200.529 crore as other equity increased by Rs 338.898 crore to Rs 1,132.693 crore. Lease liabilities across current and non-current classifications totalled Rs 39.606 crore at 30 September 2026, down from Rs 51.496 crore at 31 March 2026; the consolidated balance sheet does not present borrowings as a separate liability category.

Conclusion

Tenneco Clean Air India's first-half statements show higher capital deployment alongside a larger cash balance. Capital-asset purchases increased to Rs 119.059 crore, capital work in progress reached Rs 152.75 crore, and cash and cash equivalents rose to Rs 914.627 crore. Net operating cash inflow of Rs 467.724 crore exceeded combined investing and financing cash outflows of Rs 124.323 crore.

The next disclosure to watch is whether the Rs 152.75 crore capital work-in-progress balance moves into completed property, plant and equipment and whether further spending changes the cash position. The filing gives no separate project completion date, capital-spending target or allocation of the Rs 119.059 crore purchase line among completed assets, work in progress and advances.