3M India Ltd

3M India Ltd

₹ 31,611 2.42%
29 Sep 4:01 p.m.
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 35,626 Cr.
  • Current Price 31,611
  • High / Low 33,643 / 21,300
  • Stock P/E 71.8
  • Book Value 1,489
  • Dividend Yield 0.31 %
  • ROCE 31.4 %
  • ROE 23.4 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company's working capital requirements have reduced from 43.1 days to 33.2 days

Cons

  • Stock is trading at 21.0 times its book value
  • The company has delivered a poor sales growth of 7.88% over past five 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023
346 690 741 827 744 840 826 926 944 977 993 1,046 1,050
395 577 650 725 696 748 731 768 827 854 822 852 877
Operating Profit -48 113 92 102 48 92 95 158 116 123 171 194 173
OPM % -14% 16% 12% 12% 6% 11% 12% 17% 12% 13% 17% 19% 16%
6 6 6 7 8 8 8 9 11 35 12 10 15
Interest 1 0 1 0 1 1 0 2 1 0 1 6 1
Depreciation 15 17 16 14 15 13 14 13 14 15 15 14 14
Profit before tax -58 102 81 95 41 87 89 151 113 143 167 184 173
Tax % 26% 27% 26% 26% 26% 26% 25% 27% 26% 26% 25% 26% 25%
-43 75 59 70 30 64 67 111 84 106 125 136 129
EPS in Rs -37.74 66.61 52.72 62.56 26.72 57.01 59.24 98.46 74.80 94.30 110.79 120.48 114.70
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,710 3,017 2,987 2,605 3,336 3,959 4,065
2,211 2,481 2,537 2,345 2,947 3,355 3,405
Operating Profit 499 536 450 259 389 604 661
OPM % 18% 18% 15% 10% 12% 15% 16%
55 60 46 25 37 68 72
Interest 2 1 4 2 4 7 8
Depreciation 44 44 59 62 55 58 57
Profit before tax 508 551 433 220 368 607 668
Tax % 34% 33% 26% 26% 26% 26%
333 366 322 162 272 451 496
EPS in Rs 295.91 325.06 285.99 144.14 241.43 400.37 440.27
Dividend Payout % 0% 0% 0% 0% 0% 212%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 10%
TTM: 15%
Compounded Profit Growth
10 Years: %
5 Years: 6%
3 Years: 12%
TTM: 52%
Stock Price CAGR
10 Years: 26%
5 Years: 6%
3 Years: 19%
1 Year: 28%
Return on Equity
10 Years: %
5 Years: 18%
3 Years: 15%
Last Year: 23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
11 11 11 11 11 11
Reserves 1,055 1,422 1,740 1,899 2,172 1,666
10 14 42 23 25 27
1,234 672 578 718 798 1,010
Total Liabilities 2,311 2,118 2,371 2,652 3,006 2,714
303 286 306 266 307 338
CWIP 6 12 7 24 23 25
Investments 0 0 0 0 0 0
2,001 1,820 2,058 2,362 2,676 2,352
Total Assets 2,311 2,118 2,371 2,652 3,006 2,714

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
36 253 245 321 327 465
25 -553 3 -14 -41 -15
-2 3 -25 -25 -21 -980
Net Cash Flow 59 -297 223 282 265 -530

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 77 71 65 68 58 59
Inventory Days 96 94 92 104 85 91
Days Payable 93 81 66 114 94 113
Cash Conversion Cycle 79 84 92 58 49 36
Working Capital Days -26 54 66 56 40 33
ROCE % 44% 27% 12% 18% 31%

Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 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%
3.59% 4.28% 3.76% 3.95% 3.78% 4.38% 4.25% 4.13% 4.26% 4.40% 3.72% 3.64%
7.08% 6.78% 7.64% 7.70% 7.62% 7.01% 6.54% 6.37% 6.90% 6.90% 7.93% 8.34%
14.33% 13.94% 13.60% 13.35% 13.60% 13.61% 14.21% 14.50% 13.83% 13.70% 13.35% 13.02%
No. of Shareholders 31,78729,42728,82331,88735,08734,66137,23238,28237,21937,54129,88428,054

* 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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