The Automotive Component Manufacturers Association of India (ACMA) revealed a robust 11.3 percent growth in India’s auto component industry for the first half of fiscal 2024-25, with turnover reaching INR 3,320 billion from April to September 2024.

ACMA Director General Vinnie Mehta highlighted the sector's resilience, supported by steady vehicle sales and exports. Domestic supplies to OEMs rose 11.2 percent to INR 2,830 billion, while exports expanded 7 percent to INR 933 billion, maintaining a USD 150 million trade surplus. Imports grew 4 percent to INR 920.5 billion. The aftermarket also recorded a 5 percent increase, reaching INR 474.16 crore.

“Despite global headwinds, the industry’s performance underscores its adaptability and strong fundamentals,” Mehta remarked.

ACMA President Shradha Suri Marwah noted the return of vehicle sales to pre-pandemic levels. “While two-wheeler sales surged, passenger and commercial vehicle sales remained moderate. Export challenges including rising freight costs, posed hurdles, yet the industry displayed resilience, maintaining stable value growth,” she stated.

Marwah emphasised ongoing investments in technology upgrades, localisation and higher value-added components to meet evolving market demands.

Officials also noted that North America and Europe each accounted for 31 percent of total exports. North America grew 8.3 percent, while Europe held steady. Asia, representing 22 percent, saw a 10 percent uptick.

Asia dominated with 65 percent of imports, followed by Europe (27 percent) and North America (7 percent). Imports from Asia rose 5.5 percent, while those from Europe increased 3.2 percent. North American imports declined by 8.3 percent.

The aftermarket’s 5 percent growth reflects the sector's evolution, driven by the rising penetration of e-commerce and growing demand in rural areas. The trend indicates a gradual shift towards an organised market structure.

ACMA’s review reinforces the auto component sector’s vital role in India’s economy, with strong growth prospects driven by strategic investments and market resilience.

Elaborating on the mood of the industry and outlook for the near to mid-term future, Marwah mentioned, “The festive season brought significant sales across most segments of the vehicle industry. However, reflecting on the past eight months of this fiscal year, while two-wheelers have shown promising growth, sales of passenger vehicles (PVs) and commercial vehicles (CVs) has been relatively moderate. On exports front, with geological challenges, delivery time and freight costs have once again gone up. That said, in value terms, the industry remains in robust health, signalling stability and resilience amidst evolving market dynamics. The components industry continues to make investments for purposes of higher value-addition, technology upgradation and localisation to stay relevant to both domestic and international customers.”

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Bengaluru-based TSUYO Manufacturing has launched its new portfolio of electric motor and powertrain technologies aimed at the light commercial vehicle market in India. The release focuses on modular design and local innovation to support electrification in the three-wheeler segment.

The company introduced its Gen 3.0 IPM motor and controller architecture, which it claims includes external Hall sensor placement and split-phase cabling to manage heat dissipation and reliability. The controller features an aluminium cast housing for thermal performance, an external bootloader for software updates and an LED system for diagnostics. The architecture also utilises upgraded MOSFET technology for high-performance applications.

TSUYO announced several technologies designed to improve vehicle efficiency and resource independence:

• Automated Manual Transmission (AMT): An AMT solution for electric three-wheelers intended to improve range, load handling, and gradeability.
• SynRM Motor: A patented magnet-less motor featuring a rotor architecture that reduces reliance on imported rare-earth materials.
• Hairpin Winding: This technology increases power density, claiming a 20% increase in performance and extended motor life.
• Axle Technology: A flat tube axle with a gear interface for L3 and Mini-L5 vehicles to improve load capacity.

Vijay Kumar, Co-Founder and CEO, Tsuyo Manufacturing, said, “India’s electric mobility journey, especially in the three-wheeler segment, demands solutions that are engineered for reality—not mere specifications on paper. At TSUYO, this launch represents a decisive step in moving India’s EV ecosystem from assembly-led adoption to engineering-led innovation. Every product we are unveiling today has been designed to address the unique operating conditions, cost sensitivities, and performance expectations of Indian vehicles and end users.”

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Tenneco Clean Air India has announced its financial results for Q3 and 9-month period FY2026. The company reported a 14.7 percent increase in value-added revenue (VAR) and a 24.8 percent rise in EBITDA compared to the same period last year.

Revenue from operations for the quarter stood at INR 12.85 billion, up 14.2 percent YoY, while profit after tax saw a decline of 5.3 percent YoY to INR 1.18 billion on the back of cost associated with new labour code implementation.

The company stated that it uses value-added revenue as its primary metric, which reached INR 11.94 billion.

Tenneco also announced that it has secured a contract to supply its DaVinci DCx suspension system to an Indian OEM (Mahindra) for an SUV platform. The program is estimated to generate INR 2.2 billion in annual revenue. The DaVinci technology utilises a mechanical design with discs to control hydraulic flow, avoiding the use of sensors or motors to manage ride quality.

Additionally, the company won a contract with a global commercial vehicle manufacturer for a modular BSVI aftertreatment system. This project has an annual revenue potential of approximately INR 1.15 billion.

Furthermore, the Board has approved the establishment of a greenfield Clean Air plant in Kharkhoda, Haryana. The project will see an estimated investment of INR 710 million, with production scheduled to begin in Q3 of FY2027. The facility is intended to support the light vehicle, off-highway and tractor segments.

Arvind Chandra, Whole-Time Director and CEO, Tenneco India, said, "The quarter demonstrated sustained execution across our business. We delivered strong business growth, resilient margins, and meaningful progress across Clean Air, Powertrain, and Advanced Ride Technologies. The selection of DaVinci DCx Suspension for a flagship SUV platform validates our product development approach and positions us to capture additional opportunities as OEMs seek to differentiate through ride quality. Unlike conventional systems, the DaVinci technology uses specially designed discs (or shim stacks) to control hydraulic flow, delivering consistent comfort across varying speeds and road conditions, achieved affordably and with a fast time to market."

Chandra also noted that the company's export order book covers 100 percent of projected FY2028 revenue, supported by tariff reductions in the US and EU.

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Posting a 21 percent revenue growth at INR 16,698 million as compared to INR 13,755 million during the same period last fiscal, Carraro India – a Tier-I solutions provider for axles, transmission systems, gears and other related components – has highlighted that it is transforming, innovating and leading across markets and technologies.

Announcing a 38 PAT increase at INR 889 million (which includes the impact of new labour code of INR 95 million) on the back of robust demand across domestic and export markets, the company has recorded an EBITDA (including other income) at INR 1,765 million, a growth of 28 percent on a year-on-year basis for the nine months’ of FY26 period with margins at 10.6 percent.

Witnessing a ramp-up of the new range of Tele Boom Handlers (TBH) axles for a major international OEM during the period under review (9Ms FY26), underlining healthy traction and strong visibility of sustained growth for the quarters to come, Carraro India also saw new projects with a domestic customer (global and Inda) contribute. This was about Tele Boom Handlers (TBH) family of axles during the respective period. This business too is expected to pan out well over the next quarters.

The company also experienced good traction in the area of backhoe loader transmission and axles. The sales of drivelines to construction equipment customers increased by approximately four percent during the nine months of FY26. It is during this period that construction equipment market declined by around five percent.

Receiving several enquiries for higher HP and technology configurations on the engineering services business side, the company signed an INR 175 million agreement with Montra for industrialisation and supply of e-transmissions.

The acceleration in shift from 2WD to 4WD tractors post GST reduction has resulting in a strong revenue growth during the nine months of FY26. Carraro India is ramping up capacity in anticipation of a sustained demand.

What was perhaps surprising was a subdued gears business performance during the respective period. In the nine months of FY26, a capex of INR 304 million was deployed to support new telescopic handler's axle production, high- performance new transmission range for agricultural applications and to grant incremental capacity for FY26 sales.

“Carraro India is not just performing – it is transforming, innovating and leading across markets and technologies,” said Dr. Balaji Gopalan, Managing Director, Carraro India Limited.

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Gulf Oil Lubricants India, a Hinduja Group company, has reported record financial results for Q3 FY2026 and 9-month period ending 31 December 2025. The company achieved record highs in quarterly volumes, revenue and EBITDA.

On a consolidated basis, quarterly revenue from operations reached INR 10.17 billion, a 10.56 percent increase compared to the same period last year.

For Q3 FY2026, EBITDA came at INR 1.32 billion, up 7.8 percent, as against INR 1.22 billion last year. Net profit came at INR 761.3 million, down 21.77 percent YoY, as against INR 973.2 million a year ago. The profitability was impacted to estimated obligations of INR 226.4 million for standalone and INR 227.8 million for consolidated financials due to new labour codes effective from 21 November 2025. Additionally, the previous year's Q3 results included a one-time gain of INR 119.7 million from the sale of land and buildings. Excluding these factors, PAT growth was 7.40 percent YoY.

The 9-month consolidated revenue crossed the INR 30 billion mark, which marked a 12.04 percent YoY increase. Net profit came at INR 2.55 billion, down 3.55 percent YoY, as against INR 2.64 billion. 

In terms of business performance, lubricant volume grew by 8 percent, outperforming the industry average. Growth was reported in the B2C segment, led by Passenger Car Motor Oil (PCMO) and Agri sales, and across B2B segments including industrial, infrastructure and mining. The OEM Franchise Workshops business also recorded double-digit growth.

Tirex, the company’s electric vehicle (EV) charging subsidiary, reported top-line growth of 83 percent for Q3 FY2026. The business partnered with Mahindra & Mahindra to establish EV charging stations for a highway initiative.

Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India, said, “The quarter has been a strong one for us, with all-time high quarterly Volumes, Revenue, and EBITDA. Demand and sales picked up in the second half of the quarter post the prolonged monsoon and festivities. Overall lubricants volume grew by 8 percent, clearly outperforming industry growth by 2x, supported by double-digit growth in key segments of B2C led by Passenger Car Motor Oil (PCMO) & Agri and across B2B segments.”

Manish Gangwal, Whole-Time Director & CFO, Gulf Oil Lubricants India, said, “Q3 delivered encouraging performance across all key financial parameters, reflecting the strength of our execution capabilities. We recorded healthy double-digit topline growth for both the quarter and the nine-month period, supported by higher volumes and an improved product mix. Stable commodity prices contributed to gross margin expansion, enabling us to achieve our highest-ever quarterly EBITDA of INR 1.3 billion.”

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