NSE: 3MINDIA · BSE: 523395
3M INDIA LIMITED
Sells products across four main business groups and an 'Others' category, generating FY26 revenue of ₹5,089.76 crore. Transportation & Electronics was the largest segment at ₹1,845.54 crore (36.3% of segment revenue) with segment EBIT of ₹347.79 crore, followed by Safety & Industrial at ₹1,640.04 crore (32.2%, EBIT ₹257.57 crore) and Health Care at ₹1,016.58 crore (20.0%, EBIT ₹209.82 crore). Consumer contributed ₹537.24 crore (10.6%, EBIT ₹94.11 crore), with Others adding ₹50.36 crore (1.0%). The business runs three manufacturing plants, one R&D centre, and two customer technical centres, and reported about 1,273 employees as of FY26. Materials were the largest cost line at 35.2% of revenue, ahead of other operating expenses (13.5%) and employee costs (9.5%). In July 2026, the company temporarily halted manufacturing at its Ahmedabad plant due to flooding, while other plants had capacity to cover; separately in June 2026, the board approved selling a non-operational land parcel of about 4.13 acres with 8,001 sq meters of built-up area in Pimpri, Pune for ₹82 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Transportation & Electronics (36%), Safety & Industrial (32%), Health Care (20%), Consumer (11%), Others (1%). Diversified manufacturer and marketer across industrial, safety, healthcare, and consumer segments
Exhibit 1: Financial summary, FY20–FY24 (all audited; no estimate years)
| ₹ crore · consolidated | FY20 | FY21 | FY22 | FY23 | FY24 |
|---|---|---|---|---|---|
| Revenue | 2,987 | 2,605 | 3,336 | 3,959 | 4,189 |
| EBITDA (ex other income) | 450 | 259 | 389 | 604 | 759 |
| margin % | 15.1 | 10.0 | 11.7 | 15.3 | 18.1 |
| Owners' profit | 0 | 0 | 0 | 451 | 0 |
| EPS, as reported (₹) | 285.99 | 144.14 | 241.43 | 400.37 | 517.90 |
| ROE % · ROCE % | 18.4 · 24.2 | 8.5 · 11.3 | 12.5 · 16.5 | 26.9 · 35.4 | 27.2 · 35.8 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | — | 321 | 327 | 465 | 643 |
| Capex | — | (42) | (70) | (60) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 977 | 993 | 1,046 | 1,050 | 1,040 | 1,006 | 1,095 | 1,047 |
| Profit before tax | 143 | 167 | 184 | 173 | 196 | 181 | 231 | 211 |
| Net profit | 106 | 125 | 136 | 129 | 146 | 135 | 173 | 157 |
| EPS (₹) | 94.30 | 110.79 | 120.48 | 114.70 | 129.71 | 120.05 | 153.44 | 139.50 |
Exhibit 3: Segment revenue, FY24
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Consumer | 428 | 10.2 |
| Health Care | 761 | 18.2 |
| Others | 18 | 0.4 |
| Safety & Industrial | 1,333 | 31.8 |
| Transportation & Electronics | 1,649 | 39.4 |
| Total, before eliminations | 4,189 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| 3M INDIA LIMITED ◆ | 32,491 | 53.1 | 15.13 | 37.5 | 27.2 | 35.7 | 6.8 | 21.7 |
| GODREJ INDUSTRIES LTD | 31,855 | 27.1 | 1.37 | 13.5 | 10.4 | 6.4 | 19.0 | 27.3 |
| DCM SHRIRAM LIMITED | 14,235 | 9.8 | 1.84 | 10.0 | 11.1 | 9.5 | 11.4 | 11.7 |
| KAMA HOLDINGS LTD. | 6,790 | 7.3 | 0.45 | — | 12.3 | — | 13.5 | 22.4 |
| BALMER LAWRIE & CO LTD | 2,647 | 9.5 | 1.27 | 6.8 | 13.0 | 11.2 | 12.2 | 14.8 |
| TTK HEALTHCARE LIMITED | 1,448 | 19.6 | 1.30 | — | 5.9 | 7.4 | — | 12.2 |
| EMPIRE INDUSTRIES LTD. | 563 | 10.9 | 1.60 | — | 14.7 | 10.5 | — | 19.5 |
| GILLANDERS ARBUTHNOT LTD | 203 | 11.6 | 0.79 | 10.0 | 3.7 | 3.5 | 0.0 | 9.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 53.1 | 11.5 | 14 of 15 | 7% |
| P/B | 15.1 | 1.1 | 14 of 14 | 0% |
| ROCE | 35.7 | 8.4 | 1 of 14 | 100% |
| ROE | 27.2 | 10.7 | 2 of 14 | 92% |
| Debt / Equity | 0.0 | 0.4 | 1 of 13 | 100% |
| EBITDA margin | 21.7 | 20.6 | 7 of 14 | 54% |
| Revenue growth | (0.3) | 11.9 | 14 of 14 | 0% |
| Profit growth | 21.6 | 100.4 | 10 of 13 | 25% |
| Market cap | 32491 | 203 | 1 of 15 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Healthcare distribution agreements amended after Solventum divestiture | strategic transactions | medium | — | — |
| 21 Oct 2026 · Non-Executive Director Ms. Kong Sau Wai Elizabeth resigns from 3M India board | management changes | medium | — | — |
| 14 Oct 2026 · 3M India board to consider Q2 FY26-27 results on Nov 6 | results | low | — | — |
| 9 Oct 2026 · Routine compliance certificate on share dematerialization for Q2 FY27 | compliance | minimal | — | — |
| 6 Oct 2026 · 3M India gets ESG rating of 77 from CFC Finlease | business updates | medium | — | — |
| 24 Sept 2026 · Trading Window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 12 Sept 2026 · Crisil assigns ESG rating of 65 (Strong) to 3M India | credit debt | medium | — | — |
| 28 Aug 2026 · Clarification on volume movement - no undisclosed info | compliance | low | — | — |
| 28 Aug 2026 · BSE seeks clarification on 3M India volume movement | regulatory legal | medium | — | — |
| 27 Aug 2026 · 3M India 39th AGM: All 7 resolutions passed with strong majority | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.