3M India Ltd

₹ 32,970 -0.05%

16 Mar - 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]

Website BSE NSE

Market Cap ₹ 37,157 Cr.
Current Price ₹ 32,970
High / Low ₹ 38,300 / 26,800
Stock P/E 60.8
Book Value ₹ 1,906
Dividend Yield 0.49 %
ROCE 40.5 %
ROE 30.5 %
Face Value ₹ 10.0

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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 17.3 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 BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty Midcap150 Quality 50 Nifty Total Market Nifty Midcap150 Momentum 50 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	744	840	826	926	944	977	993	1,046	1,050	1,040	1,006	1,095	1,047
	696	748	731	768	827	854	822	852	877	847	827	880	841
Operating Profit	48	92	95	158	116	123	171	194	173	192	179	214	205
OPM %	6%	11%	12%	17%	12%	13%	17%	19%	16%	18%	18%	20%	20%
	8	8	8	9	11	35	12	10	15	17	17	30	22
Interest	1	1	0	2	1	0	1	6	1	1	1	1	3
Depreciation	15	13	14	13	14	15	15	14	14	13	13	13	14
Profit before tax	41	87	89	151	113	143	167	184	173	196	181	231	211
Tax %	26%	26%	25%	27%	26%	26%	25%	26%	25%	25%	25%	25%	26%
	30	64	67	111	84	106	125	136	129	146	135	173	157
EPS in Rs	26.72	57.01	59.24	98.46	74.80	94.30	110.79	120.48	114.70	129.70	120.05	153.44	139.50
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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:	12%
5 Years:	4%
3 Years:	13%
1 Year:	21%

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%

Insights

In beta

Mar 2015

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Number of Manufacturing Plants
Count

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	x.xx		x.xx	x.xx		x.xx	x.xx	x.xx	x.xx	x.xx

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Number of R&D/Innovation Centers
Count

Number of Shareholders
Count

R&D Expenditure as % of Turnover
%

Total Employees
Count

Town Reach (Consumer Segment)
Count

Passenger Vehicle Market Output (India Context)
Million Units ・Standalone data

Dark Store Presence
Count

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	3.72%	3.64%	3.56%	3.56%	3.64%	3.77%	4.07%	4.01%	3.78%	3.84%	3.43%	3.50%
	7.93%	8.34%	8.45%	8.52%	8.44%	8.27%	8.13%	8.16%	8.08%	8.10%	8.12%	8.39%
	13.35%	13.02%	12.98%	12.92%	12.92%	12.95%	12.80%	12.84%	13.13%	13.05%	13.44%	13.11%
No. of Shareholders	29,884	28,054	28,077	27,610	29,198	29,243	30,045	32,147	34,425	34,588	34,539	30,577

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	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%	3.50%
	2.54%	2.05%	2.22%	4.42%	7.64%	6.54%	7.93%	8.44%	8.08%	8.39%
	13.28%	13.78%	14.49%	15.73%	13.60%	14.21%	13.35%	12.92%	13.13%	13.11%
No. of Shareholders	16,290	18,145	22,564	30,112	28,823	37,232	29,884	29,198	34,425	30,577

* 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

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Credit ratings

Rating update
19 Jan 2015 from crisil

Concalls

Mar 2026

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