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)
Strengths
- +Company is almost debt free.
- +Company has been maintaining a healthy dividend payout of 172%
Weaknesses
- −Stock is trading at 21.6 times its book value
- −The company has delivered a poor sales growth of 9.96% over past five years.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 75% | 75% | 75% | 75% | 75% | 75% | 75% | 75% |
| FIIs | 3.77% | 4.07%▲0.3 | 4.01%▼0.1 | 3.78%▼0.2 | 3.84%▲0.1 | 3.43%▼0.4 | 3.5%▲0.1 | 3.52%▲0.0 |
| DIIs | 8.27% | 8.13%▼0.1 | 8.16%▲0.0 | 8.08%▼0.1 | 8.1%▲0.0 | 8.12%▲0.0 | 8.39%▲0.3 | 8.34%▼0.1 |
| Public | 12.95% | 12.8%▼0.1 | 12.84%▲0.0 | 13.13%▲0.3 | 13.05%▼0.1 | 13.44%▲0.4 | 13.11%▼0.3 | 13.15%▲0.0 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,040 | 1,006 | 1,033 | 1,047 | 1,111 | 1,090 | 1,198 | 1,196 | 1,266 | 1,228 |
| Expenses | 847 | 827 | 831 | 841 | 927 | 936 | 971 | 954 | 1,011 | 997 |
| Operating Profit | 192 | 179 | 202 | 205 | 183 | 154 | 227 | 242 | 256 | 231 |
| OPM % | 18% | 18% | 20% | 20% | 16% | 14% | 19% | 20% | 20% | 19% |
| Net Profit | 146 | 135 | 161 | 157 | 134 | 114 | 71 | 178 | 191 | -62 |
| EPS ₹ | 129.7 | 120.05 | 143.13 | 139.5 | 118.76 | 100.99 | 63.35 | 157.73 | 169.85 | -55.08 |
AI Insights
TTM revenue at ₹4,889Cr, up 10% YoY. OPM at 20%.
Borrowings at ₹103Cr. Debt-to-equity ratio: 0.06x. Healthy balance sheet.
CWIP at ₹18Cr (4% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 8.34% (+0.00pp change). FIIs: 3.52% (-0.12pp change). Promoters hold 75%.
ROCE improving from 10% (Mar 2014) to 38% (Mar 2025). Working capital days: 38.
PE 108x with 38.2% ROCE. Price is 2090% above book value of ₹1,430. Dividend yield: 0.51%.
Recent Announcements
- Updates Under SEBI (LODR) Regulations, 2015 - Chapter IV, Regulation 30(5) 16h - 3M India updated authorized persons for materiality determinations under Regulation 30(5).
- Board Meeting Intimation for To Consider, Approve Audited Financial Results For The Year Ended March 31, 2026, Recommendation Of Dividend, If Any For The Financial Year Ended March 31, 2026; And For Other Matters 17h - Board to meet on May 22, 2026 to approve FY26 audited results and consider dividend.
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 30 Apr - 3M India says it does not meet SEBI large corporate criteria.
- Announcement under Regulation 30 (LODR)-Change in Management 23 Apr - Rajiv Gupta ceases as Senior Management Personnel effective April 30, 2026, due to new 3M Group role.
- Announcement Under Reg 30 (LODR) Change In Senior Management 16 Apr - 3M India appoints Jerry Daniel as Healthcare leader from May 1, 2026; Rajiv Gupta transitions within 3M Group.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse