What is the DaVinci DCX and why is it expanding?

The DaVinci DCX is a mechanical suspension system adopted by a leading Indian SUV maker. Demand for the technology is strong enough that Tenneco is now expanding its use to three-four additional automakers.

How does the order book translate to future revenue?

Tenneco's lifetime order book of ₹124,000 crore provides 100% visibility for its FY28 revenue targets. This means the revenue is effectively contracted for that year.

What is the ₹1,400 crore capex for?

The capex is for building new factories in North and West India. The expansion is to support a ramp in exports and meet demand from new regulations like CAFE 3 and BS7.

What is the company's export target?

Tenneco is targeting exports to make up 14-20% of its total sales by FY28, a ramp that the new factory capacity is designed to support.

Concalls · Auto Ancillary · Large cap

Tenneco's DaVinci suspension wins three more OEMs, order book covers FY28

A record 18.8% EBITDA margin in FY26 rests on the DaVinci DCX system, which is now expanding to multiple new customers. The ₹1,400 crore capex push is for factories to feed exports and upcoming regulations.

— 1 earlier story on Tenneco Clean Air India Ltd. →

TENNIND By Tipsheet Editorial 3 Jun 2026 · 5:11 PM IST Verify on BSE · NSE

Mkt cap₹23,016 cr

P/E38.13×

ROE34.29%

Debt / eq.0.03

₹124,000 cr Lifetime order book, providing 100% of FY28 revenue targets.

What's new

DaVinci DCX suspension system is expanding from one to three-four additional automakers.
₹1,400 crore capex planned for new factories in North and West India.
Export ramp targets 14-20% of sales by FY28, supported by CAFE 3 and BS7.

Why this matters

The order book is not just large; it is booked for a future year. ₹124,000 crore in orders locks in FY28 revenue, de-risking the capex plan. The DaVinci win is the bigger story: a single technology platform is pulling in new customers.

What we're watching

How quickly DaVinci DCX ramps with the three-four new OEMs.
Whether the ₹1,400 crore capex hits its factory-delivery timeline.
Progress toward the 14-20% export-sales target by FY28.

The full read

Tenneco Clean Air India's FY26 results are a story of one technology pulling the rest of the business along. The DaVinci DCX mechanical suspension system, already in with a leading SUV maker, is now expanding to three-four more automakers. That single win helped drive a record 18.8% EBITDA margin for the year. Management is doubling down, with a ₹1,400 crore capex plan for new factories in North and West India to feed an export ramp targeting 14-20% of sales by FY28. The order book of ₹124,000 crore covers 100% of FY28 revenue targets, which funds the expansion without guesswork.

Questions answered

What is the DaVinci DCX and why is it expanding?: The DaVinci DCX is a mechanical suspension system adopted by a leading Indian SUV maker. Demand for the technology is strong enough that Tenneco is now expanding its use to three-four additional automakers.
How does the order book translate to future revenue?: Tenneco's lifetime order book of ₹124,000 crore provides 100% visibility for its FY28 revenue targets. This means the revenue is effectively contracted for that year.
What is the ₹1,400 crore capex for?: The capex is for building new factories in North and West India. The expansion is to support a ramp in exports and meet demand from new regulations like CAFE 3 and BS7.
What is the company's export target?: Tenneco is targeting exports to make up 14-20% of its total sales by FY28, a ramp that the new factory capacity is designed to support.

Mentioned: DaVinci DCX · ₹1,400 crore capex · ₹124,000 crore order book

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

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3 Jun 2026 · 5:11 PM IST Tenneco's DaVinci suspension wins three more OEMs, order book covers FY28
4d ago Tenneco Clean Air India posts record 18.8% EBITDA margin in Q4