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3M India Q2 FY27 results: net profit down 17.2% to ₹158.48 crore, revenue up 14.7%
3M India Limited reported standalone Q2 FY27 revenue of ₹1,452 crore, up 14.7% from Q2 FY26, while EBITDA fell 12.8% and net profit declined 17.2% to ₹158.48 crore. The September 2026 quarter included no exceptional item, against a ₹73.13 crore gain in Q1 FY27, and basic EPS was ₹140.68.
Key points
- Standalone Q2 FY27 revenue was ₹1,452 crore, up 14.7% from ₹1,266 crore in Q2 FY26.
- EBITDA was ₹223.03 crore, down 12.8% from ₹255.85 crore, while EBITDA margin fell 4.8 percentage points to 15.4%.
- Net profit was ₹158.48 crore, down 17.2% from ₹191.34 crore, and basic EPS was ₹140.68.
- Total expenses rose 21.7% to ₹1,251 crore, led by cost of materials at ₹526.12 crore.
- H1 FY27 revenue was ₹2,875.7 crore, up 16.8%, while profit after tax was ₹391.55 crore, up 6.1%.
How did 3M India perform in Q2 FY27?
3M India reported standalone revenue of ₹1,452 crore in Q2 FY27, up 14.7% from ₹1,266 crore in Q2 FY26 and 2.1% from ₹1,423 crore in Q1 FY27. EBITDA was ₹223.03 crore, down 12.8% year on year and 6.3% sequentially, with the margin declining 4.8 percentage points to 15.4% from 20.2% a year earlier.
Profit before tax was ₹212.32 crore, down 15.3% from ₹250.81 crore in Q2 FY26 and 29.7% from ₹302.16 crore in Q1 FY27. Net profit was ₹158.48 crore, compared with ₹191.34 crore and ₹233.07 crore, respectively, while basic EPS was ₹140.68 against ₹339.7 in the year-ago quarter. The results are standalone; no consolidated figures were provided in the supplied data.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,452 | 1,423 | 1,266 | +14.7% | +2.1% |
| Other income | 11.17 | 11.64 | 12.32 | −9.3% | −4.0% |
| Total expenses | 1,251 | 1,206 | 1,028 | +21.7% | +3.8% |
| EBITDA | 223.03 | 238.05 | 255.85 | −12.8% | −6.3% |
| EBITDA margin | 15.4% | 16.7% | 20.2% | −4.8 pp | −1.3 pp |
| Profit before tax | 212.32 | 302.16 | 250.81 | −15.3% | −29.7% |
| Tax | 53.84 | 69.09 | 59.47 | −9.5% | −22.1% |
| Net profit | 158.48 | 233.07 | 191.34 | −17.2% | −32.0% |
| EPS (₹) | 140.68 | 206.90 | 339.70 | −58.6% | −32.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in 3M India's costs and profit?
Total expenses rose ₹223.34 crore, or 21.7%, to ₹1,251 crore from ₹1,028 crore in Q2 FY26. Cost of materials increased ₹86.28 crore, or 19.6%, to ₹526.12 crore, employee cost rose ₹6.46 crore to ₹127.38 crore, and other expenses increased ₹15.21 crore to ₹199.74 crore. Finance costs rose ₹1.95 crore to ₹4.27 crore and depreciation rose ₹2.57 crore to ₹17.61 crore.
Other income fell ₹1.15 crore, or 9.3%, to ₹11.17 crore. Q2 FY27 had no exceptional item, compared with no exceptional item in Q2 FY26, while tax expense declined ₹5.63 crore, or 9.5%, to ₹53.84 crore. The supplied filing does not state a reason for the increase in costs or the decline in profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 526.12 | 439.84 | +86.28 | +19.6% |
| Employee cost | 127.38 | 120.92 | +6.46 | +5.3% |
| Finance costs | 4.27 | 2.32 | +1.95 | +84.1% |
| Depreciation | 17.61 | 15.04 | +2.57 | +17.1% |
| Other expenses | 199.74 | 184.53 | +15.21 | +8.2% |
| Total expenses | 1,251 | 1,028 | +223.34 | +21.7% |
| Other income | 11.17 | 12.32 | −1.15 | −9.3% |
| Tax | 53.84 | 59.47 | −5.63 | −9.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹2,875.7 crore, up 16.8% from ₹2,462.46 crore in H1 FY26. Total income rose 16.4% to ₹2,898.51 crore from ₹2,489.77 crore, while profit before tax increased 5.0% to ₹514.48 crore from ₹490.21 crore.
Profit after tax for H1 FY27 was ₹391.55 crore, up 6.1% from ₹369.02 crore in H1 FY26. Basic EPS was ₹347.58, down 46.9% from ₹655.16. H1 FY27 included a ₹73.13 crore gain from the sale of land, while H1 FY26 included a ₹34.33 crore labour code impact charge.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,876 | 2,462 | +16.8% |
| Profit before tax | 514.48 | 490.21 | +5.0% |
| Net profit | 391.55 | 369.02 | +6.1% |
| EPS (₹) | 347.58 | 655.16 | −46.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,976.38 crore, compared with ₹3,137.25 crore at 31 March 2026, and total equity was ₹1,590.33 crore compared with ₹1,768.15 crore. The company reported no borrowings at the quarter end, against ₹169.75 crore at the previous balance sheet date, while cash was ₹597.33 crore compared with ₹812.14 crore.
H1 FY27 operating cash flow was ₹299.87 crore, compared with ₹282.18 crore in H1 FY26. Investing cash flow was ₹68.75 crore against ₹11.63 crore, financing cash flow was negative ₹583.43 crore against negative ₹612.98 crore, and capital expenditure was ₹34.26 crore compared with ₹16.12 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,976 | 3,137 |
| Total equity | 1,590 | 1,768 |
| Borrowings | 0 | 169.75 |
| Cash and equivalents | 597.33 | 812.14 |
| Inventories | 801.46 | 822.96 |
| Trade receivables | 874.21 | 838.60 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 299.87 | 282.18 |
| Cash from investing | 68.75 | 11.63 |
| Cash from financing | −583.43 | −612.98 |
| Capital expenditure | 34.26 | 16.12 |
Source: Company's results filing (XBRL).
How has 3M India done over the last 8 quarters?
Revenue reached its highest level in the series in Q2 FY27 at ₹1,452 crore, after rising year on year in each of the last eight quarters. It had reached ₹1,423 crore in Q1 FY27, compared with ₹1,399 crore in Q4 FY26, while the lowest quarterly figure was ₹1,089.95 crore in Q3 FY25.
Net profit peaked at ₹233.07 crore in Q1 FY27 and fell to ₹158.48 crore in Q2 FY27; the lowest figure in the series was a net loss of ₹62.05 crore in Q3 FY26. EBITDA margin peaked at 20.2% in Q1 FY26 and Q2 FY26, then declined to 18.4% in Q4 FY26, 16.7% in Q1 FY27 and 15.4% in Q2 FY27.
Which businesses drove the quarter?
Safety & Industrial reported revenue of ₹452.31 crore, up 11.8% from ₹404.61 crore, with EBIT of ₹31.24 crore and an EBIT margin of 6.9%. Transportation & Electronics recorded revenue of ₹536.61 crore, up 23.4%, and EBIT of ₹76.72 crore, with a 14.3% margin.
Health Care revenue was ₹278 crore, up 4.1%, with EBIT of ₹60.22 crore and a 21.7% margin. Consumer revenue rose 19.5% to ₹170.84 crore, while EBIT was ₹29.44 crore and the margin was 17.2%. Others reported revenue of ₹14.73 crore, down 13.9%, and EBIT of ₹7.8 crore, with a 53.0% margin.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Safety & Industrial | 452.31 | +11.8% | 31.24 | 6.9% |
| Transportation & Electronics | 536.61 | +23.4% | 76.72 | 14.3% |
| Health Care | 278 | +4.1% | 60.22 | 21.7% |
| Consumer | 170.84 | +19.5% | 29.44 | 17.2% |
| Others | 14.73 | −13.9% | 7.80 | 53.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
In its 6 November 2026 filing, 3M India said the board had approved the unaudited financial results for the quarter and half year ended 30 September 2026. The statutory auditors’ limited review report was also attached, and the results had been reviewed by the Audit Committee before board approval.
The company said Chun Hao Lok would be appointed as an Additional Director, a Non-Executive and Non-Independent Director, effective 7 November 2026, while Kong Sau Wai Elizabeth resigned as a director effective 6 November 2026. The board also approved a postal ballot seeking shareholder approval for Lok’s appointment and reconstructed its committees from 7 November 2026. The same-day filing did not mention a dividend or fund raise.
How did 3M India shares react?
After the filing appeared, the stock was down 5.0% after 5 minutes, 4.7% after 15 minutes and 7.8% after 30 minutes. From the previous close of ₹29,285, it closed the first trading session on the news down 6.1% at a base price of ₹29,160.
The Diversified industry’s other stocks recorded a median reaction-day move of negative 0.5%, leaving 3M India’s reaction 5.6 percentage points below the industry median. Earlier results-day moves were negative 0.1% on 4 August 2026, positive 2.9% on 22 May 2026, positive 0.6% on 12 February 2026 and positive 15.9% on 3 November 2025. Data for the next day and five days after the result were not provided.
| After the filing | Stock | Diversified median |
|---|---|---|
| 5 minutes | −5.0% | |
| 15 minutes | −4.7% | |
| 30 minutes | −7.8% | |
| Reaction day | −6.1% | −0.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 4 August 2026 | −0.1% |
| 22 May 2026 | +2.9% |
| 12 February 2026 | +0.6% |
| 3 November 2025 | +15.9% |
| 7 August 2025 | +3.4% |
| 28 May 2025 | −4.2% |
| 7 February 2025 | −0.4% |
| 12 November 2024 | −4.1% |
Source: MarketPing price-reaction measurement.
Quick answers
What was 3M India's revenue in Q2 FY27?
Revenue from operations was ₹1,452 crore, up 14.7% from ₹1,266 crore in Q2 FY26 (standalone).
Did 3M India make a profit in Q2 FY27?
Yes. Net profit was ₹158.48 crore, against a net profit of ₹191.34 crore in Q2 FY26.
What was 3M India's EPS in Q2 FY27?
Basic earnings per share were ₹140.68, against ₹339.70 in Q2 FY26.
How did 3M India shares react to the Q2 FY27 results?
On the reaction day the stock moved −6.1% from the previous close; the median Diversified stock moved −0.5%.
When did 3M India announce its Q2 FY27 results?
On 6 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Q2 26-27 Financial Results And Other Matters (BSE, 14 October 2026) · PDF
- Financial Results For Q2 26-27 (BSE, 6 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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