3M India Ltd
3M India is a subsidiary of 3M Company, USA. The Company manages its operations in four operating segments: Safety & Industrial , Transportation & Electronics, Health Care and Consumer. In India, the Company has manufacturing facilities at Ahmedabad, Bangalore, Pune and has a R&D Center in Bangalore.(Source : 202003 Annual Report Page No:137)
- Market Cap ₹ 33,468 Cr.
- Current Price ₹ 29,697
- High / Low ₹ 39,876 / 23,001
- Stock P/E 67.2
- Book Value ₹ 1,852
- Dividend Yield 0.34 %
- ROCE 25.3 %
- ROE 18.8 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company's working capital requirements have reduced from 42.0 days to 31.8 days
Cons
- Stock is trading at 16.0 times its book value
- The company has delivered a poor sales growth of 7.87% over past five years.
- Company has a low return on equity of 12.3% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Diversified Industry: Diversified - Large
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,405 | 1,574 | 1,742 | 1,840 | 2,140 | 2,363 | 2,556 | 2,809 | 2,765 | 2,420 | 3,078 | 3,733 | 3,881 | |
1,283 | 1,463 | 1,630 | 1,636 | 1,803 | 1,994 | 2,076 | 2,301 | 2,425 | 2,183 | 2,696 | 3,174 | 3,198 | |
Operating Profit | 122 | 112 | 112 | 204 | 337 | 369 | 480 | 508 | 340 | 238 | 382 | 560 | 683 |
OPM % | 9% | 7% | 6% | 11% | 16% | 16% | 19% | 18% | 12% | 10% | 12% | 15% | 18% |
5 | 10 | 19 | 14 | 18 | 49 | 44 | 33 | 42 | 27 | 35 | 64 | 50 | |
Interest | 4 | 10 | 15 | 4 | 2 | 2 | 2 | 1 | 4 | 2 | 4 | 7 | 8 |
Depreciation | 27 | 36 | 48 | 50 | 49 | 47 | 42 | 42 | 57 | 60 | 53 | 56 | 53 |
Profit before tax | 96 | 75 | 69 | 165 | 303 | 369 | 480 | 497 | 320 | 202 | 360 | 561 | 671 |
Tax % | 33% | 30% | 38% | 34% | 36% | 35% | 35% | 35% | 32% | 26% | 26% | 26% | |
65 | 52 | 43 | 108 | 195 | 241 | 311 | 323 | 219 | 149 | 266 | 416 | 498 | |
EPS in Rs | 57.50 | 46.40 | 38.16 | 96.17 | 172.89 | 213.72 | 275.67 | 286.72 | 194.38 | 132.53 | 236.29 | 369.41 | 442.35 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 230% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 8% |
3 Years: | 11% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | 6% |
3 Years: | 24% |
TTM: | 25% |
Stock Price CAGR | |
---|---|
10 Years: | 23% |
5 Years: | 5% |
3 Years: | 6% |
1 Year: | 27% |
Return on Equity | |
---|---|
10 Years: | 15% |
5 Years: | 13% |
3 Years: | 12% |
Last Year: | 19% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
Reserves | 593 | 645 | 688 | 796 | 977 | 1,215 | 1,525 | 1,848 | 2,064 | 2,210 | 2,478 | 1,937 | 2,075 |
76 | 174 | 121 | 14 | 11 | 10 | 9 | 14 | 42 | 23 | 24 | 27 | 24 | |
241 | 233 | 267 | 306 | 430 | 695 | 589 | 621 | 537 | 672 | 744 | 940 | 960 | |
Total Liabilities | 921 | 1,063 | 1,088 | 1,128 | 1,429 | 1,932 | 2,135 | 2,494 | 2,653 | 2,917 | 3,257 | 2,914 | 3,070 |
290 | 300 | 418 | 388 | 349 | 315 | 285 | 269 | 287 | 248 | 291 | 322 | 336 | |
CWIP | 21 | 121 | 7 | 1 | 1 | 2 | 6 | 10 | 7 | 24 | 23 | 25 | 7 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 585 | 505 | 505 | 505 | 505 | 505 |
611 | 642 | 662 | 739 | 1,078 | 1,614 | 1,844 | 1,629 | 1,855 | 2,140 | 2,439 | 2,063 | 2,222 | |
Total Assets | 921 | 1,063 | 1,088 | 1,128 | 1,429 | 1,932 | 2,135 | 2,494 | 2,653 | 2,917 | 3,257 | 2,914 | 3,070 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
21 | 64 | 120 | 177 | 261 | 365 | 29 | 267 | 218 | 312 | 334 | 425 | |
-71 | -141 | -47 | -4 | 1 | 12 | 18 | -590 | 1 | -16 | -43 | -20 | |
53 | 83 | -73 | -119 | -5 | -4 | -2 | 4 | -24 | -25 | -21 | -980 | |
Net Cash Flow | 3 | 6 | 0 | 54 | 257 | 373 | 45 | -319 | 195 | 271 | 269 | -575 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 61 | 62 | 56 | 49 | 54 | 63 | 76 | 71 | 67 | 69 | 58 | 58 |
Inventory Days | 96 | 87 | 89 | 101 | 89 | 92 | 95 | 93 | 93 | 105 | 86 | 89 |
Days Payable | 65 | 49 | 44 | 53 | 69 | 111 | 88 | 79 | 66 | 114 | 96 | 111 |
Cash Conversion Cycle | 91 | 99 | 100 | 97 | 74 | 44 | 83 | 85 | 94 | 60 | 49 | 36 |
Working Capital Days | 71 | 75 | 64 | 57 | 39 | 16 | 54 | 54 | 68 | 56 | 38 | 32 |
ROCE % | 16% | 11% | 10% | 21% | 34% | 33% | 35% | 29% | 16% | 9% | 15% | 25% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 30 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 20 Apr
- Reg 40(10) PCS Certificate For March 2024 15 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 10 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 9 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Jun 2023TranscriptNotesPPT
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Jun 2023TranscriptNotesPPT
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Jun 2022TranscriptNotesPPT
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Feb 2022TranscriptPPT
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Jun 2021TranscriptPPT
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Aug 2020TranscriptPPT
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Mar 2020TranscriptPPT
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Aug 2019TranscriptPPT
History of the company
3M was incorporated in 1902 in the USA as a Mining company and now 3M is one of the world’s leading conglomerates with a presence in 70+ countries. 3M ventured into India as a part of their expansion strategy. Birla 3M India was incorporated in 1986 as a Joint venture between the 3M group and the Birla group and later Y. Birla sold his stake and eventually the name of the company was changed to 3M India in 2002. [1] [2]