3M India Limited has informed the Exchange regarding Change in Director(s) of the company.
3MINDIA · price
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Awaiting price reaction for this filing.
3M India reported strong Q2 FY26 results with sales growing 14% YoY to Rs. 1,266 crore and profit after tax jumping 43% YoY to Rs. 191 crore. All four business segments — Safety & Industrial, Transportation & Electronics, Health Care, and Consumer — posted double-digit YoY growth. The Board appointed M.D. Ranganath, former CFO of Infosys and current independent director on HDFC Bank's board, as an Additional Non-Executive Independent Director for a 5-year term effective February 2, 2026. Statutory auditor B S R & Co LLP is being replaced by Price Waterhouse & Co Chartered Accountants LLP via the scheduled rotation after the second term ends, with the new auditor to serve from the 39th AGM (2026) to the 44th AGM. The Board also noted that US parent 3M Company has agreed to sell its global Precision Grinding & Finishing business to Europe-based PE firm Nimbus, but the India impact is minimal — less than 1% of 3M India's FY25 revenue and just 2 employees.
The strong Q2 earnings and broad-based segment growth are positive for shareholders, reinforcing the company's growth momentum. The appointment of a high-profile independent director with deep finance and governance expertise adds credibility to the board. The auditor and parent divestment changes are routine and immaterial to 3M India's operations or financials.