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 ₹ 40,431 Cr.
- Current Price ₹ 35,875
- High / Low ₹ 38,300 / 25,714
- Stock P/E 66.1
- Book Value ₹ 1,906
- Dividend Yield 0.45 %
- ROCE 40.5 %
- ROE 30.5 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 123%
- Company's working capital requirements have reduced from 30.7 days to 21.9 days
Cons
- Stock is trading at 18.8 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 Nifty 500 Nifty MNC BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 2,710 | 3,017 | 2,987 | 2,605 | 3,336 | 3,959 | 4,189 | 4,186 | |
| 2,211 | 2,481 | 2,537 | 2,345 | 2,947 | 3,355 | 3,430 | 3,396 | |
| Operating Profit | 499 | 536 | 450 | 259 | 389 | 604 | 759 | 791 |
| OPM % | 18% | 18% | 15% | 10% | 12% | 15% | 18% | 19% |
| 55 | 60 | 46 | 25 | 37 | 68 | 78 | 86 | |
| Interest | 2 | 1 | 4 | 2 | 4 | 7 | 3 | 5 |
| Depreciation | 44 | 44 | 59 | 62 | 55 | 58 | 53 | 53 |
| Profit before tax | 508 | 551 | 433 | 220 | 368 | 607 | 781 | 819 |
| Tax % | 34% | 33% | 26% | 26% | 26% | 26% | 25% | |
| 333 | 366 | 322 | 162 | 272 | 451 | 583 | 611 | |
| EPS in Rs | 295.91 | 325.06 | 285.99 | 144.14 | 241.43 | 400.37 | 517.90 | 542.69 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 237% | 132% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 7% |
| 3 Years: | 17% |
| TTM: | 3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 53% |
| TTM: | 23% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 9% |
| 3 Years: | 18% |
| 1 Year: | 35% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 22% |
| Last Year: | 30% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 1,055 | 1,422 | 1,740 | 1,899 | 2,172 | 1,666 | 2,136 |
| 10 | 14 | 42 | 23 | 25 | 27 | 18 | |
| 1,234 | 672 | 578 | 718 | 798 | 1,010 | 1,083 | |
| Total Liabilities | 2,311 | 2,118 | 2,371 | 2,652 | 3,006 | 2,714 | 3,248 |
| 303 | 286 | 306 | 266 | 307 | 338 | 332 | |
| CWIP | 6 | 12 | 7 | 24 | 23 | 25 | 12 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 2,001 | 1,820 | 2,058 | 2,362 | 2,676 | 2,352 | 2,903 | |
| Total Assets | 2,311 | 2,118 | 2,371 | 2,652 | 3,006 | 2,714 | 3,248 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| 36 | 253 | 245 | 321 | 327 | 465 | 643 | |
| 25 | -553 | 3 | -14 | -41 | -15 | -269 | |
| -2 | 3 | -25 | -25 | -21 | -980 | -128 | |
| Net Cash Flow | 59 | -297 | 223 | 282 | 265 | -530 | 246 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 77 | 71 | 65 | 68 | 58 | 59 | 61 |
| Inventory Days | 96 | 94 | 92 | 104 | 85 | 91 | 77 |
| Days Payable | 93 | 81 | 66 | 114 | 94 | 113 | 120 |
| Cash Conversion Cycle | 79 | 84 | 92 | 58 | 49 | 36 | 19 |
| Working Capital Days | -26 | 54 | 63 | 54 | 38 | 32 | 22 |
| ROCE % | 44% | 27% | 12% | 18% | 31% | 41% |
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 7h
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Update On Advance Pricing Agreement With The Central Board Of Direct Taxes
11h - Signed APA with CBDT Feb 23, 2026; Rs.170.95 Crore tax expense recognised for FY2014–15 to 2022–23.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Feb
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Announcement under Regulation 30 (LODR)-Change in Directorate
12 Feb - MD retiring Mar 31; new MD from Apr 1; Q3 loss Rs62.05 crore; APA tax and exceptional charges applied.
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Financial Result For Q3 25-26
12 Feb - Q3 loss Rs62cr; APA tax Rs139.5cr, interest Rs31.5cr; gratuity exceptional Rs74.6cr; MD retires Mar31; new MD Apr1,2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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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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Concalls
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Jul 2024TranscriptAI SummaryPPT
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May 2024TranscriptAI SummaryPPT
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Jun 2023TranscriptAI SummaryPPT
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Jun 2023TranscriptAI SummaryPPT
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Jun 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptPPT
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Jun 2021TranscriptPPT
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Mar 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]