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3M India

3MINDIA NSE

Key Fundamentals

SmallcapDiversified GroupDiversified
Market Cap
₹36,662 Cr
Volatility
Moderate
P/E Ratio
63.78
EBITDA
₹837 Cr
Return on Equity
27.17%
Debt to Equity
0.1
Book Value
₹1,568.9
EPS
₹542.46
52W High
₹38,030
52W Low
₹28,730

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.4%
  • Company has been maintaining a healthy dividend payout of 123%

Weaknesses

1
  • Stock is trading at 20.8 times its book value

Growth Rate

Revenue Growth
5.96% lower than 3Y
Net Income Growth
29.36% higher than 3Y
Cash Flow Change
38.14% lower than 3Y
ROE
1.04% lower than 3Y
ROCE
1.1% lower than 3Y
EBITDA Margin (Avg.)
17.49% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

3M India Ltd trades at a market cap of ₹36,662 Cr with a PE of 63.9x and PB of 20.9x, reflecting premium valuations. The company delivers strong ROE of 30% (last year) and TTM sales growth of 16%, but TTM profit has declined 11%, creating a divergence between topline momentum and bottom-line performance.

Bull Case 7
  • Strong return on equity with last year ROE at 30% and a 3-year average ROE of 27%, indicating efficient capital allocation
  • Robust TTM sales growth of 16%, accelerating from the 10-year compounded sales CAGR of 9%
  • Healthy dividend payout ratio of 123%, returning more than net profits to shareholders
  • Dividend yield of 1.54% is notable for a growth-oriented MNC subsidiary trading at premium multiples
  • 5-year compounded profit growth of 30% demonstrates strong long-term earnings trajectory
  • Virtually debt-free balance sheet typical of MNC subsidiaries, reducing financial risk
  • 10-year stock CAGR of 10% shows consistent long-term wealth creation despite periods of stagnation
Bear Case 8
  • PE ratio of 63.9x is significantly elevated compared to broader market averages, leaving little margin of safety
  • Price-to-book of 20.9x is extremely rich, implying the stock prices in many years of future growth
  • TTM compounded profit growth has turned negative at -11%, diverging sharply from the 16% sales growth
  • 3-year stock CAGR of just 1% suggests the stock has largely stagnated over a meaningful period despite business growth
  • 3-year compounded profit growth of only 9% lags the 3-year sales growth of 11%, indicating margin compression
  • As an MNC subsidiary with limited free float, the parent company's global strategy and transfer pricing policies can constrain local shareholder value
  • 1-year stock return of 6% underperforms relative to the broader Indian market indices, reflecting tepid investor sentiment
  • Dividend payout exceeding 100% of profits at 123% is unsustainable long-term and may indicate limited reinvestment opportunities in India

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 3
  • QoQ revenue and profit dip Aug 19

    Q1FY25 (June 2024) saw revenue decline 4.38% QoQ to ₹1,046.57 crore and net profit fall 9.08% QoQ to ₹157.15 crore, indicating quarterly volatility despite strong annual trends.

  • Stock drops despite strong fundamentals Aug 19

    3M India shares fell 2.13% to ₹34,200 on Aug 19, reflecting market hesitancy despite robust annual performance and a debt-free balance sheet.

  • Lower special dividend YoY Aug 26

    FY26 total dividend of ₹506/share (₹160 final + ₹346 special) is lower than FY25's ₹535/share (₹160 final + ₹375 special), a 5.4% reduction in shareholder payout.

Positives 5
  • FY26 revenue up 14.5% YoY Aug 26

    3M India reported FY26 standalone revenue of ₹5,089.8 crore, up 14.5% from ₹4,445 crore in FY25, with EBIT growing 19.51% to ₹937 crore.

  • Net profit rises 9.7% in FY26 Aug 26

    FY26 net profit reached ₹522.3 crore, up 9.7% YoY from ₹476 crore in FY25, continuing a multi-year growth trend.

  • Debt-free balance sheet maintained Aug 19

    3M India maintains a debt-to-equity ratio of 0.00, providing strong financial resilience and flexibility for future investments.

  • Generous ₹506/share dividend declared Aug 26

    Board recommended ₹160 final dividend plus ₹346 special dividend totaling ₹506/share for FY26, with ex-date July 17, 2026.

  • Strong FY24 profit growth 29.4% Aug 19

    FY24 net profit surged 29.35% to ₹583.42 crore from ₹451.02 crore in FY23, with EPS rising to ₹517.90 from ₹400.37.

Neutral 2
  • All 7 AGM resolutions approved Aug 27

    Shareholders approved all seven agenda items at the 39th AGM held August 26, 2026, with high participation from promoter and institutional blocks.

  • Q1FY27 results filed with exchanges Aug 15

    3M India submitted unaudited Q1FY27 (quarter ended June 30, 2026) results to BSE and NSE on August 15, 2026, confirming SEBI LODR compliance.

TL;DR: 3M India is delivering strong top-line and bottom-line growth with FY26 revenue up 14.5% and EBIT up 19.5%, all on a completely debt-free balance sheet. Key risks include quarterly earnings volatility and a slightly lower dividend payout versus FY25. The stock's 2.13% dip suggests the market is weighing near-term fluctuations against solid fundamentals. With double-digit revenue growth and expanding operating margins, the trend remains positive heading into FY27 provided quarterly consistency improves.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
977
1,040
1,006
1,033
1,047
1,111
1,090
1,198
1,196
1,266
1,228
1,399
1,423
Expenses
819
847
827
831
841
927
936
971
954
1,011
997
1,142
1,185
Operating Profit
158
192
179
202
205
183
154
227
242
256
231
257
238
OPM %
16%
18%
18%
20%
20%
16%
14%
19%
20%
20%
19%
18%
17%
Other Income
13
17
17
27
22
18
17
14
15
12
-65
52
85
Interest
1
1
1
1
3
4
3
1
2
2
35
4
4
Depreciation
14
13
13
13
14
14
14
14
15
15
16
17
17
PBT
157
196
181
215
211
183
154
225
239
251
115
289
302
Tax %
25%
25%
25%
25%
26%
27%
26%
68%
26%
24%
154%
26%
23%
Net Profit
117
146
135
161
157
134
114
71
178
191
-62
215
233
EPS in Rs
104
130
120
143
140
119
101
63.35
158
170
-55.08
191
207
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,840
2,140
2,363
2,556
2,809
2,765
2,420
3,078
3,733
4,189
4,446
5,090
5,317
Expenses
1,636
1,803
1,994
2,076
2,301
2,425
2,183
2,696
3,174
3,430
3,676
4,104
4,335
Operating Profit
204
337
369
480
508
340
238
382
560
759
770
986
982
OPM %
11%
16%
16%
19%
18%
12%
10%
12%
15%
18%
17%
19%
18%
Other Income
14
18
49
44
33
42
27
35
64
78
70
14
84
Interest
4
2
2
2
1
4
2
4
7
3
11
44
45
Depreciation
50
49
47
42
42
57
60
53
56
53
55
63
64
PBT
165
303
369
480
497
320
202
360
561
781
773
894
957
Tax %
34%
36%
35%
35%
35%
32%
26%
26%
26%
25%
38%
42%
—
Net Profit
108
195
241
311
323
219
149
266
416
583
476
522
578
EPS in Rs
96.17
173
214
276
287
194
133
236
369
518
423
464
513
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
257%
132%
127%
109%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
11
11
11
11
11
11
11
11
11
11
Reserves
796
977
1,215
1,525
1,848
2,064
2,210
2,478
1,937
2,136
1,835
1,757
Borrowings
14
11
10
9
14
42
23
24
27
18
100
170
Other Liabilities
306
430
695
589
621
537
672
744
940
1,083
1,069
1,199
Total Liabilities
1,128
1,429
1,932
2,135
2,494
2,653
2,917
3,257
2,914
3,248
3,015
3,137
Fixed Assets
388
349
315
285
269
287
248
291
322
332
417
485
CWIP
1
1
2
6
10
7
24
23
25
12
10
14
Investments
0
0
0
0
585
505
505
505
505
0
0
0
Other Assets
739
1,078
1,614
1,844
1,629
1,855
2,140
2,439
2,063
2,903
2,588
2,639
Total Assets
1,128
1,429
1,932
2,135
2,494
2,653
2,917
3,257
2,914
3,248
3,015
3,137
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
177
261
365
29
267
218
312
334
425
643
355
514
Investing
-4
1
12
18
-590
1
-16
-43
-20
-269
322
-11
Financing
-119
-5
-4
-2
4
-24
-25
-21
-980
-128
-789
-623
Net Cash Flow
54
257
373
45
-319
195
271
269
-575
246
-112
-121
Free Cash Flow
172
250
351
15
229
199
274
266
365
612
300
457
CFO/OP
113
114
132
47
92
101
164
114
103
111
73
82
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
49
54
63
76
71
67
69
58
58
61
65
60
Inventory Days
101
89
92
95
93
93
105
86
89
77
89
102
Days Payable
53
69
111
88
79
66
114
96
111
120
104
102
Cash Conversion Cycle
97
74
44
83
85
94
60
49
36
19
50
60
Working Capital Days
57
39
16
54
54
65
54
36
31
22
38
40
ROCE %
21%
34%
33%
35%
29%
16%
9%
15%
25%
38%
38%
50%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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52 extracted metrics + investor summaries across FY13–FY26.

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Shareholding Pattern

FIIs3.50%Promot.75.00%Others3.57%DIIs8.16%Public9.76%As ofJun 2026

Documents

1
Concall - May 2026 May 2026
2
Concall - May 2026 May 2026
3
Concall - Jul 2024 Jul 2024
4
Concall - May 2024 May 2024
5
Concall - Jun 2023 Jun 2023

Frequently Asked Questions about 3M India

What does 3M India Ltd do?
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 Bangal...
Where is 3M India Ltd (3MINDIA) listed?
3M India Ltd trades as 3MINDIA on the NSE and under code 523395 on the BSE.
Which sector does 3M India Ltd belong to?
3M India Ltd is classified under the Diversified sector, in the Diversified Group industry.
What is the market capitalisation of 3M India Ltd?
3M India Ltd has a market capitalisation of ₹36,662 Cr, which places it in the Large Cap band.
What is the PE ratio of 3M India Ltd?
3M India Ltd trades at a PE ratio of 63.78, on earnings per share of ₹542.46, against a book value of ₹1,568.9 per share.
What is the 52-week high and low of 3M India Ltd?
Over the last 52 weeks 3M India Ltd has traded between ₹28,730 and ₹38,030.
Does 3M India Ltd pay dividends?
3M India Ltd has a dividend yield of 1.54%.
What is the Return on Equity (ROE) of 3M India Ltd?
3M India Ltd reported a return on equity of 27.17%. Its debt-to-equity ratio is 0.10.

Company Information

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)

Website 3m.com/in
CEO Mr. Ramesh Ramadurai
Employees 1,213
Listed 2004-08-13
Face Value ₹ 10
Issued Size 1,12,65,070

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