3M India Ltd

3M India Ltd

₹ 30,743 1.19%
26 Feb - 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 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]

  • Market Cap 34,647 Cr.
  • Current Price 30,743
  • High / Low 39,876 / 21,730
  • Stock P/E 69.5
  • Book Value 1,852
  • Dividend Yield 0.33 %
  • 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 16.6 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

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
684 769 689 777 764 849 890 925 932 986 977 975 942
603 674 644 684 665 700 779 810 778 807 819 797 775
Operating Profit 81 96 44 93 99 149 111 115 154 180 158 178 167
OPM % 12% 12% 6% 12% 13% 18% 12% 12% 17% 18% 16% 18% 18%
6 8 8 8 6 9 11 34 11 8 13 15 14
Interest 1 0 1 1 0 2 1 0 1 6 1 1 1
Depreciation 15 14 14 13 13 13 14 14 14 14 14 13 13
Profit before tax 71 89 38 87 91 143 108 134 151 168 157 180 167
Tax % 26% 26% 26% 26% 26% 26% 26% 26% 25% 27% 25% 25% 25%
53 66 28 65 68 106 80 100 113 123 117 134 125
EPS in Rs 46.76 58.31 24.82 57.59 60.13 93.73 71.24 88.65 100.11 109.43 103.57 118.77 110.58
Raw PDF

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: 24%
5 Years: 6%
3 Years: 10%
1 Year: 40%
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%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
3.76% 3.95% 3.78% 4.38% 4.25% 4.13% 4.26% 4.40% 3.72% 3.64% 3.56% 3.56%
7.64% 7.70% 7.62% 7.01% 6.54% 6.37% 6.90% 6.90% 7.93% 8.34% 8.45% 8.52%
13.60% 13.35% 13.60% 13.61% 14.21% 14.50% 13.83% 13.70% 13.35% 13.02% 12.98% 12.92%
No. of Shareholders 28,82331,88735,08734,66137,23238,28237,21937,54129,88428,05428,07727,610

* 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.

Click on the line-items to see the names of individual entities.

Documents