3M India Ltd

₹ 30,170 0.48%

09 Oct - close price

About

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)

Key Points

History of the company
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 JV 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]

3M India benefits from the parent’s brands, patents, global product portfolio, technical knowledge, sourcing network and customer relationships but it is materially dependent on overseas group companies. In FY26:
- ⁠Purchases from group entities were ~₹1,358 crore, equivalent to 27% of revenue.
- Corporate management fees were ₹129 crore, ⁠Royalty paid to 3M Company was ₹87 crore.
- Related-party trade payables were ~₹458 crore.^[3]^[4]

Website BSE NSE

Market Cap ₹ 34,002 Cr.
Current Price ₹ 30,170
High / Low ₹ 38,300 / 28,730
Stock P/E 77.1
Book Value ₹ 1,570
Dividend Yield 0.53 %
ROCE 50.0 %
ROE 30.0 %
Face Value ₹ 10.0

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Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 27.4%
Company has been maintaining a healthy dividend payout of 123%

Cons

Stock is trading at 19.2 times its book value

* 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

Diversified Diversified Diversified Diversified

Part of BSE 500 BSE Industrials BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty Midcap150 Quality 50 Nifty500 Shariah Nifty Midcap150 Momentum 50 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE India Sector Leaders BSE 1000 Nifty Smallcap 500 Nifty MidSmallcap400 50:50

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	977	1,040	1,006	1,033	1,047	1,111	1,090	1,198	1,196	1,266	1,228	1,399	1,423
	819	847	827	831	841	927	936	971	954	1,011	997	1,142	1,185
Operating Profit	158	192	179	202	205	183	154	227	242	256	231	257	238
OPM %	16%	18%	18%	20%	20%	16%	14%	19%	20%	20%	19%	18%	17%
	13	17	17	27	22	18	17	14	15	12	-65	52	85
Interest	1	1	1	1	3	4	3	1	2	2	35	4	4
Depreciation	14	13	13	13	14	14	14	14	15	15	16	17	17
Profit before tax	157	196	181	215	211	183	154	225	239	251	115	289	302
Tax %	25%	25%	25%	25%	26%	27%	26%	68%	26%	24%	154%	26%	23%
	117	146	135	161	157	134	114	71	178	191	-62	215	233
EPS in Rs	103.57	129.70	120.05	143.13	139.50	118.76	100.99	63.35	157.73	169.85	-55.08	191.16	206.90
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,840	2,140	2,363	2,556	2,809	2,765	2,420	3,078	3,733	4,189	4,446	5,090	5,317
	1,636	1,803	1,994	2,076	2,301	2,425	2,183	2,696	3,174	3,430	3,676	4,104	4,335
Operating Profit	204	337	369	480	508	340	238	382	560	759	770	986	982
OPM %	11%	16%	16%	19%	18%	12%	10%	12%	15%	18%	17%	19%	18%
	14	18	49	44	33	42	27	35	64	78	70	14	84
Interest	4	2	2	2	1	4	2	4	7	3	11	44	45
Depreciation	50	49	47	42	42	57	60	53	56	53	55	63	64
Profit before tax	165	303	369	480	497	320	202	360	561	781	773	894	957
Tax %	34%	36%	35%	35%	35%	32%	26%	26%	26%	25%	38%	42%
	108	195	241	311	323	219	149	266	416	583	476	522	578
EPS in Rs	96.17	172.89	213.72	275.67	286.72	194.38	132.53	236.29	369.41	517.90	422.61	463.66	512.83
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	257%	132%	127%	109%

Compounded Sales Growth
10 Years:	9%
5 Years:	16%
3 Years:	11%
TTM:	16%

Compounded Profit Growth
10 Years:	11%
5 Years:	30%
3 Years:	9%
TTM:	-11%

Stock Price CAGR
10 Years:	9%
5 Years:	3%
3 Years:	-1%
1 Year:	2%

Return on Equity
10 Years:	19%
5 Years:	22%
3 Years:	27%
Last Year:	30%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	11	11	11	11	11	11	11	11	11	11	11	11
Reserves	796	977	1,215	1,525	1,848	2,064	2,210	2,478	1,937	2,136	1,835	1,757
	14	11	10	9	14	42	23	24	27	18	100	170
	306	430	695	589	621	537	672	744	940	1,083	1,069	1,199
Total Liabilities	1,128	1,429	1,932	2,135	2,494	2,653	2,917	3,257	2,914	3,248	3,015	3,137
	388	349	315	285	269	287	248	291	322	332	417	485
CWIP	1	1	2	6	10	7	24	23	25	12	10	14
Investments	0	0	0	0	585	505	505	505	505	0	0	0
	739	1,078	1,614	1,844	1,629	1,855	2,140	2,439	2,063	2,903	2,588	2,639
Total Assets	1,128	1,429	1,932	2,135	2,494	2,653	2,917	3,257	2,914	3,248	3,015	3,137

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	177	261	365	29	267	218	312	334	425	643	355	514
	-4	1	12	18	-590	1	-16	-43	-20	-269	322	-11
	-119	-5	-4	-2	4	-24	-25	-21	-980	-128	-789	-623
Net Cash Flow	54	257	373	45	-319	195	271	269	-575	246	-112	-121
Free Cash Flow	172	250	351	15	229	199	274	266	365	612	300	457
CFO/OP	113%	114%	132%	47%	92%	101%	164%	114%	103%	111%	73%	82%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	49	54	63	76	71	67	69	58	58	61	65	60
Inventory Days	101	89	92	95	93	93	105	86	89	77	89	102
Days Payable	53	69	111	88	79	66	114	96	111	120	104	102
Cash Conversion Cycle	97	74	44	83	85	94	60	49	36	19	50	60
Working Capital Days	57	39	16	54	54	65	54	36	31	22	38	40
ROCE %	21%	34%	33%	35%	29%	16%	9%	15%	25%	38%	38%	50%

Insights

In beta

Mar 2016

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Permanent employees
count

x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx
x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx	x,xxx.xx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
			xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
								x,xxx		x,xxx
										xxx
		x.xx				x.xx	x.xx	x.xx	x.xx	x.xx

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R&D expenditure
INR lakhs

Consumer segment revenue mix
% of total revenue

Health Care segment revenue mix
% of total revenue

Safety & Industrial segment revenue mix
% of total revenue

Transportation & Electronics segment revenue mix
% of total revenue

Customer Technical Center visitors
count

Patents filed in India
count

R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	3.56%	3.56%	3.64%	3.77%	4.07%	4.01%	3.78%	3.84%	3.43%	3.50%	3.52%	3.50%
	8.45%	8.52%	8.44%	8.27%	8.13%	8.16%	8.08%	8.10%	8.12%	8.39%	8.34%	8.16%
	12.98%	12.92%	12.92%	12.95%	12.80%	12.84%	13.13%	13.05%	13.44%	13.11%	13.15%	13.33%
No. of Shareholders	28,077	27,610	29,198	29,243	30,045	32,147	34,425	34,588	34,539	30,577	29,808	30,673

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	9.18%	9.17%	8.29%	4.85%	3.76%	4.25%	3.72%	3.64%	3.78%	3.52%	3.50%
	2.54%	2.05%	2.22%	4.42%	7.64%	6.54%	7.93%	8.44%	8.08%	8.34%	8.16%
	13.28%	13.78%	14.49%	15.73%	13.60%	14.21%	13.35%	12.92%	13.13%	13.15%	13.33%
No. of Shareholders	16,290	18,145	22,564	30,112	28,823	37,232	29,884	29,198	34,425	29,808	30,673

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

All

Annual reports

Credit ratings

Rating update
19 Jan 2015 from crisil

Concalls

May 2026

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