3MINDIA
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3M India Names Aseem Joshi President And MD Designate
Aug 25 (Reuters) - 3M India Ltd TMIN.NS:
APPOINTS ASEEM JOSHI AS PRESIDENT AND MD DESIGNATE
Source text: ID:nBSE9SrLx2
Further company coverage: TMIN.NS
(([email protected];))
Aug 25 (Reuters) - 3M India Ltd TMIN.NS:
APPOINTS ASEEM JOSHI AS PRESIDENT AND MD DESIGNATE
Source text: ID:nBSE9SrLx2
Further company coverage: TMIN.NS
(([email protected];))
India's 3M reports quarterly profit rise on strong demand in healthcare, consumer segments
Aug 7 (Reuters) - Diversified products maker 3M India TMIN.NS reported a year-on-year rise in profit after three consecutive quarters of decline, buoyed by strong demand in its healthcare and consumer segments.
The company, which makes everything from 'Post-it' notes to medical gear, reported a 13.1% rise in profit after tax to 1.78 billion rupees ($20.30 million) for the first quarter ended June 30, from 1.57 billion rupees a year ago.
The Indian arm of U.S. conglomerate 3M MMM.N has logged robust demand in sectors such as healthcare, infrastructure and electronics as India's own manufacturing activities scale up, led by higher government expenditure and strong economic growth.
3M India's revenue rose 14.3% to 11.96 billion rupees, marking its highest growth in three quarters. Expenses rose roughly 13%.
Last month parent 3M MMM.N raised its full-year profit forecast and projected a smaller hit from U.S. tariffs to its 2025 earnings.
Sales in both its healthcare and consumer segments, which account for 20% and 11% of the top line, respective, rose 20% each.
Its biggest segment, transportation and electronics, which makes up about 37% of the overall revenue, saw an 11% rise in sales.
Shares of 3M India were down 2.22% in a weak broader market after the U.S. doubled the tariffs on imported Indian goods to 50%, stoking concerns over the economic impact of heightened trade tensions .BO.
($1 = 87.6900 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
Aug 7 (Reuters) - Diversified products maker 3M India TMIN.NS reported a year-on-year rise in profit after three consecutive quarters of decline, buoyed by strong demand in its healthcare and consumer segments.
The company, which makes everything from 'Post-it' notes to medical gear, reported a 13.1% rise in profit after tax to 1.78 billion rupees ($20.30 million) for the first quarter ended June 30, from 1.57 billion rupees a year ago.
The Indian arm of U.S. conglomerate 3M MMM.N has logged robust demand in sectors such as healthcare, infrastructure and electronics as India's own manufacturing activities scale up, led by higher government expenditure and strong economic growth.
3M India's revenue rose 14.3% to 11.96 billion rupees, marking its highest growth in three quarters. Expenses rose roughly 13%.
Last month parent 3M MMM.N raised its full-year profit forecast and projected a smaller hit from U.S. tariffs to its 2025 earnings.
Sales in both its healthcare and consumer segments, which account for 20% and 11% of the top line, respective, rose 20% each.
Its biggest segment, transportation and electronics, which makes up about 37% of the overall revenue, saw an 11% rise in sales.
Shares of 3M India were down 2.22% in a weak broader market after the U.S. doubled the tariffs on imported Indian goods to 50%, stoking concerns over the economic impact of heightened trade tensions .BO.
($1 = 87.6900 Indian rupees)
(Reporting by Ananta Agarwal in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
3M India Opts For Scheme To Settle Tax Litigations
July 11 (Reuters) - 3M India Ltd TMIN.NS:
OPTS FOR SCHEME TO SETTLE TAX LITIGATIONS
226,000 RUPEES TAX PAYABLE FOR FY 2004-05, 71.7 MILLION RUPEES FOR FY 2009-10
Source text: ID:nBSE1np1GR
Further company coverage: TMIN.NS
(([email protected];;))
July 11 (Reuters) - 3M India Ltd TMIN.NS:
OPTS FOR SCHEME TO SETTLE TAX LITIGATIONS
226,000 RUPEES TAX PAYABLE FOR FY 2004-05, 71.7 MILLION RUPEES FOR FY 2009-10
Source text: ID:nBSE1np1GR
Further company coverage: TMIN.NS
(([email protected];;))
3M India Says Aggregate Amount Of Tax To Be Paid Is 121.1 Mln Rupees For Tax Settlement
July 9 (Reuters) - 3M India Ltd TMIN.NS:
AGGREGATE AMOUNT OF TAX TO BE PAID IS 121.1 MILLION RUPEES FOR TAX SETTLEMENT
Source text: ID:nBSE10fMHF
Further company coverage: TMIN.NS
(([email protected];;))
July 9 (Reuters) - 3M India Ltd TMIN.NS:
AGGREGATE AMOUNT OF TAX TO BE PAID IS 121.1 MILLION RUPEES FOR TAX SETTLEMENT
Source text: ID:nBSE10fMHF
Further company coverage: TMIN.NS
(([email protected];;))
3M India posts smaller third-quarter profit as inflation pressures margins
Feb 6 (Reuters) - Diversified products maker 3M India TMIN.NS reported a 16% fall in its third-quarter profit on Friday, as inflationary pressures pushed costs higher, hurting margins.
The company, whose products range from "Post-it" notes to power tools, said its profit after tax fell to 1.14 billion rupees ($13.05 million) for the quarter ended December 31, compared to 1.35 billion rupees a year ago.
India's consumer goods makers have grappled with high inflation, which spiked to 6.21% in October and remained above 5% through December, driving up the cost of key raw materials.
3M reported a 23% increase in the cost of raw materials and a 13% rise in total expenses for the quarter.
The company's earnings before interest, tax, depreciation, and amortization (EBITDA) margins contracted by 12% compared to the previous year, negatively impacting its profitability.
However, the Scotch-Brite scrub maker has continuously raised prices across its product range in recent quarters to counter inflationary pressures, which helped revenue to grow.
It's transportation and electronics segment, which includes automotive parts, lighting solutions, and wires and cables, posted a 10% increase in revenue, driving the company's total revenue up 8% to 10.9 billion rupees.
3M India, the Indian arm of the U.S.-based industrial conglomerate 3M MMM.N, said its revenue from safety and industrial segment, with products like face shields and construction hats, posted a 1.4% revenue fall.
Shares of the company fell 2% after posting results.
($1 = 87.3710 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Tasim Zahid)
(([email protected];))
Feb 6 (Reuters) - Diversified products maker 3M India TMIN.NS reported a 16% fall in its third-quarter profit on Friday, as inflationary pressures pushed costs higher, hurting margins.
The company, whose products range from "Post-it" notes to power tools, said its profit after tax fell to 1.14 billion rupees ($13.05 million) for the quarter ended December 31, compared to 1.35 billion rupees a year ago.
India's consumer goods makers have grappled with high inflation, which spiked to 6.21% in October and remained above 5% through December, driving up the cost of key raw materials.
3M reported a 23% increase in the cost of raw materials and a 13% rise in total expenses for the quarter.
The company's earnings before interest, tax, depreciation, and amortization (EBITDA) margins contracted by 12% compared to the previous year, negatively impacting its profitability.
However, the Scotch-Brite scrub maker has continuously raised prices across its product range in recent quarters to counter inflationary pressures, which helped revenue to grow.
It's transportation and electronics segment, which includes automotive parts, lighting solutions, and wires and cables, posted a 10% increase in revenue, driving the company's total revenue up 8% to 10.9 billion rupees.
3M India, the Indian arm of the U.S.-based industrial conglomerate 3M MMM.N, said its revenue from safety and industrial segment, with products like face shields and construction hats, posted a 1.4% revenue fall.
Shares of the company fell 2% after posting results.
($1 = 87.3710 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Tasim Zahid)
(([email protected];))
3M India slips on Q2 profit drop
** Diversified products maker 3M India TMIN.NS falls 3.4% to 33,707.60 rupees; set for worst day since early June
** "Post-it" notes to power tools maker reports 8.4% fall in Q2 profit after tax at 1.34 bln rupees ($16 mln), hurt by ~10% jump in expenses
** Rev from ops climb ~7%
** Stock on track for fourth straight session of losses
** TMIN down 8.5% YTD
($1 = 84.3940 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
** Diversified products maker 3M India TMIN.NS falls 3.4% to 33,707.60 rupees; set for worst day since early June
** "Post-it" notes to power tools maker reports 8.4% fall in Q2 profit after tax at 1.34 bln rupees ($16 mln), hurt by ~10% jump in expenses
** Rev from ops climb ~7%
** Stock on track for fourth straight session of losses
** TMIN down 8.5% YTD
($1 = 84.3940 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
3M India posts first quarterly profit drop in three years as costs bite
Nov 12 (Reuters) - Diversified products maker 3M India TMIN.NS reported its first drop in quarterly profit in three years on Tuesday, pressured by higher expenses and weakness in its transportation and electronics segment.
The company, whose products range from "Post-it" notes to power tools, reported an 8.4% fall in profit after tax to 1.34 billion rupees ($15.9 million) for the second quarter ended Sept. 30.
Its revenue from operations rose about 7% to 11.11 billion rupees. However, expenses rose about 10% to 9.46 billion rupees, mainly due to a 26% jump in material costs.
"We experienced cost headwinds both due to elevated freight costs as well as material cost increases," Managing Director Ramesh Ramadurai said.
The higher expenses pressured 3M India's earnings before interest, tax, depreciation and amortization (EBITDA), which shrunk to 2.01 billion rupees from 2.10 billion rupees a year ago and 2.27 billion rupees in the previous quarter.
The company's transportation and electronics segment, which houses products including automotive parts, lighting products and wires and cables and contributes 35% of revenue, reported a 1.4% fall in revenue.
Demand for automotive parts was dull as Indian carmakers' sales to dealers marked the first decline in 10 quarters in the July-September period, industry data showed.
Meanwhile, revenue in the safety and industrial segment, which offers products such as face shields and construction hats, grew nearly 9%, helped by pick-up in infrastructure and manufacturing activity.
3M India, the Indian arm of the U.S.-based industrial conglomerate 3M MMM.N, said its revenue from its health care segment grew 19%.
The company has been hiking prices across its product range over the past few quarters, dampening demand.
Last month, 3M reported about an 18% rise in quarterly profit as cost cuts countered the impact of slow sales in its consumer business.
($1 = 84.3500 Indian rupees)
(Reporting by Dimpal Gulwani; Editing by Sumana Nandy and Varun H K)
(([email protected];))
Nov 12 (Reuters) - Diversified products maker 3M India TMIN.NS reported its first drop in quarterly profit in three years on Tuesday, pressured by higher expenses and weakness in its transportation and electronics segment.
The company, whose products range from "Post-it" notes to power tools, reported an 8.4% fall in profit after tax to 1.34 billion rupees ($15.9 million) for the second quarter ended Sept. 30.
Its revenue from operations rose about 7% to 11.11 billion rupees. However, expenses rose about 10% to 9.46 billion rupees, mainly due to a 26% jump in material costs.
"We experienced cost headwinds both due to elevated freight costs as well as material cost increases," Managing Director Ramesh Ramadurai said.
The higher expenses pressured 3M India's earnings before interest, tax, depreciation and amortization (EBITDA), which shrunk to 2.01 billion rupees from 2.10 billion rupees a year ago and 2.27 billion rupees in the previous quarter.
The company's transportation and electronics segment, which houses products including automotive parts, lighting products and wires and cables and contributes 35% of revenue, reported a 1.4% fall in revenue.
Demand for automotive parts was dull as Indian carmakers' sales to dealers marked the first decline in 10 quarters in the July-September period, industry data showed.
Meanwhile, revenue in the safety and industrial segment, which offers products such as face shields and construction hats, grew nearly 9%, helped by pick-up in infrastructure and manufacturing activity.
3M India, the Indian arm of the U.S.-based industrial conglomerate 3M MMM.N, said its revenue from its health care segment grew 19%.
The company has been hiking prices across its product range over the past few quarters, dampening demand.
Last month, 3M reported about an 18% rise in quarterly profit as cost cuts countered the impact of slow sales in its consumer business.
($1 = 84.3500 Indian rupees)
(Reporting by Dimpal Gulwani; Editing by Sumana Nandy and Varun H K)
(([email protected];))
3M India's quarterly profit jumps 22% as expenses ease
BENGALURU, Aug 6 (Reuters) - 3M India TMIN.NS reported on Tuesday a 22% jump in its first-quarter profit, as a decrease in total expenses helped lift the diversified products maker's bottomline.
The company, which makes everything from 'Post-it' notes to power tools, reported a consolidated profit after tax of 1.57 billion rupees ($18.7 million) for the quarter ended June 30, from 1.29 billion rupees a year earlier.
Total expenses declined 4% during the reported quarter, primarily due to a decrease in employee benefit expenses and depreciation charges.
3M India, the Indian arm of the U.S.-based industrial conglomerate 3M Co MMM.N, said its safety and industrial segment - which contributes 32% to the total revenue - saw a slight rise in revenue.
The segment houses products including fire barrier seals and electrical resins.
Revenue from its healthcare segment remained flat, while that from its transportation and electronics segment fell 4%.
3M's total revenue remained flat as consistent price hikes across its product range, including adhesives and office supplies, dampened demand.
Last month, U.S.-based 3M Co reported better-than-expected profit for June quarter and raised its annual adjusted profit forecast, hoping to benefit from its restructuring measures and increasing demand for electronics.
($1 = 83.9325 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected];))
BENGALURU, Aug 6 (Reuters) - 3M India TMIN.NS reported on Tuesday a 22% jump in its first-quarter profit, as a decrease in total expenses helped lift the diversified products maker's bottomline.
The company, which makes everything from 'Post-it' notes to power tools, reported a consolidated profit after tax of 1.57 billion rupees ($18.7 million) for the quarter ended June 30, from 1.29 billion rupees a year earlier.
Total expenses declined 4% during the reported quarter, primarily due to a decrease in employee benefit expenses and depreciation charges.
3M India, the Indian arm of the U.S.-based industrial conglomerate 3M Co MMM.N, said its safety and industrial segment - which contributes 32% to the total revenue - saw a slight rise in revenue.
The segment houses products including fire barrier seals and electrical resins.
Revenue from its healthcare segment remained flat, while that from its transportation and electronics segment fell 4%.
3M's total revenue remained flat as consistent price hikes across its product range, including adhesives and office supplies, dampened demand.
Last month, U.S.-based 3M Co reported better-than-expected profit for June quarter and raised its annual adjusted profit forecast, hoping to benefit from its restructuring measures and increasing demand for electronics.
($1 = 83.9325 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected];))
'Post-it' maker 3M India posts Q4 profit rise; shares surge
BENGALURU, May 28 (Reuters) - 3M India TMIN.NS reported a 27% rise in quarterly profit on Tuesday aided by strong demand in its healthcare equipment, as well as transportation and electronics segments.
Shares of the company, which makes everything from 'Scotch' tape and 'Post-it' notes to power tools and medical products, rose as much as 11.8% to 34,599 rupees, their highest in nearly four months.
Consolidated profit after tax rose to 1.73 billion rupees ($20.8 million) in the quarter ended March 31 from 1.36 billion rupees an year ago.
3M India, the Indian arm of the U.S.-based 3M Co MMM.N, said its healthcare segment, which makes surgical supplies and medical component tapes, saw a 19% rise in revenue.
Demand for medical equipments has risen in India with a rise in the need for healthcare for a rising population. 3M also saw strong demand in its transportation and electronics segment, which houses products including automotive parts, lighting needs and wires and cables.
Demand for private and commercial vehicles grew during the quarter, benefiting companies like 3M. Revenue from the segment, which contributes 41% to the revenue mix, grew nearly 4% to 4.51 billion rupees.
3M's total revenue was further boosted as it has been benefiting from steady price increases across products including adhesives and office supplies.
Revenue from operations for saw a near 5% uptick to 10.95 billion rupees, while earnings before interest, tax, depreciation and amortization (EBITDA) expanded to 2.45 billion rupees from 2.04 billion rupees an year ago.
Additionally, the company announced a dividend of 160 rupees per share and a special dividend of 525 rupees per share.
U.S. based 3M Co had posted a better-than-expected profit in the March-quarter on higher sales in its electronics unit.
($1 = 83.1825 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected];))
BENGALURU, May 28 (Reuters) - 3M India TMIN.NS reported a 27% rise in quarterly profit on Tuesday aided by strong demand in its healthcare equipment, as well as transportation and electronics segments.
Shares of the company, which makes everything from 'Scotch' tape and 'Post-it' notes to power tools and medical products, rose as much as 11.8% to 34,599 rupees, their highest in nearly four months.
Consolidated profit after tax rose to 1.73 billion rupees ($20.8 million) in the quarter ended March 31 from 1.36 billion rupees an year ago.
3M India, the Indian arm of the U.S.-based 3M Co MMM.N, said its healthcare segment, which makes surgical supplies and medical component tapes, saw a 19% rise in revenue.
Demand for medical equipments has risen in India with a rise in the need for healthcare for a rising population. 3M also saw strong demand in its transportation and electronics segment, which houses products including automotive parts, lighting needs and wires and cables.
Demand for private and commercial vehicles grew during the quarter, benefiting companies like 3M. Revenue from the segment, which contributes 41% to the revenue mix, grew nearly 4% to 4.51 billion rupees.
3M's total revenue was further boosted as it has been benefiting from steady price increases across products including adhesives and office supplies.
Revenue from operations for saw a near 5% uptick to 10.95 billion rupees, while earnings before interest, tax, depreciation and amortization (EBITDA) expanded to 2.45 billion rupees from 2.04 billion rupees an year ago.
Additionally, the company announced a dividend of 160 rupees per share and a special dividend of 525 rupees per share.
U.S. based 3M Co had posted a better-than-expected profit in the March-quarter on higher sales in its electronics unit.
($1 = 83.1825 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected];))
3M India Says Office Of Enforcement Directorate Conducted Search At Bangalore Offices
March 15 (Reuters) - 3M India Ltd TMIN.NS:
OFFICE OF ENFORCEMENT DIRECTORATE CONDUCTED A SEARCH AT OUR OFFICES IN BANGALORE ON MARCH 14
BUSINESS OPERATIONS OF CO CONTINUED AS USUAL AND WERE NOT IMPACTED DUE TO SEARCH
Source text for Eikon: ID:nBSE9h0568
Further company coverage: TMIN.NS
(([email protected];;))
March 15 (Reuters) - 3M India Ltd TMIN.NS:
OFFICE OF ENFORCEMENT DIRECTORATE CONDUCTED A SEARCH AT OUR OFFICES IN BANGALORE ON MARCH 14
BUSINESS OPERATIONS OF CO CONTINUED AS USUAL AND WERE NOT IMPACTED DUE TO SEARCH
Source text for Eikon: ID:nBSE9h0568
Further company coverage: TMIN.NS
(([email protected];;))
3M India Got Income Tax Assessment Order With Tax Demand Of 277.4 Million Rupees
Feb 27 (Reuters) - 3M India Ltd TMIN.NS:
GOT INCOME TAX ASSESSMENT ORDER WITH TAX DEMAND OF 277.4 MILLION RUPEES
Further company coverage: TMIN.NS
(([email protected];))
Feb 27 (Reuters) - 3M India Ltd TMIN.NS:
GOT INCOME TAX ASSESSMENT ORDER WITH TAX DEMAND OF 277.4 MILLION RUPEES
Further company coverage: TMIN.NS
(([email protected];))
3M India posts smallest profit growth in nine quarters as costs bite
BENGALURU, Feb 8 (Reuters) - Diversified products maker 3M India TMIN.NS posted on Thursday its smallest profit growth in nine quarters, as surging input costs countered sustained demand for its core products.
Consolidated profit after tax came increased more than 8% from a year earlier to 1.35 billion rupees (about $16 million) in the third quarter ended Dec. 31, the Indian unit of U.S.-based industrial conglomerate 3M MMM.N said in an exchange filing.
Input costs rose 5.9% to 3.98 billion rupees, sending the company's total expenses slightly higher.
Sales increased at the mainstay safety & industrial and transportation & electricals segments, which together account for 69% to 74% of 3M India's total revenue, while the smaller healthcare segment saw a fall in revenue.
"Business trends broadly remained steady versus the previous quarter, though some softness was observed in the healthcare segment," Managing Director Ramesh Ramadurai said.
Sustained infrastructure spending ahead of the 2024 general elections has boosted demand for industrial products, helping companies like 3M to make strong profits in the past year.
Shares of 3M India, which gained more than 17% in the December quarter, fell 1.2% after the results came.
Last month, parent company 3M forecast full-year earnings below estimates, saying the macro environment remained muted.
($1 = 82.9950 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Subhranshu Sahu)
(([email protected]; +918447554364;))
BENGALURU, Feb 8 (Reuters) - Diversified products maker 3M India TMIN.NS posted on Thursday its smallest profit growth in nine quarters, as surging input costs countered sustained demand for its core products.
Consolidated profit after tax came increased more than 8% from a year earlier to 1.35 billion rupees (about $16 million) in the third quarter ended Dec. 31, the Indian unit of U.S.-based industrial conglomerate 3M MMM.N said in an exchange filing.
Input costs rose 5.9% to 3.98 billion rupees, sending the company's total expenses slightly higher.
Sales increased at the mainstay safety & industrial and transportation & electricals segments, which together account for 69% to 74% of 3M India's total revenue, while the smaller healthcare segment saw a fall in revenue.
"Business trends broadly remained steady versus the previous quarter, though some softness was observed in the healthcare segment," Managing Director Ramesh Ramadurai said.
Sustained infrastructure spending ahead of the 2024 general elections has boosted demand for industrial products, helping companies like 3M to make strong profits in the past year.
Shares of 3M India, which gained more than 17% in the December quarter, fell 1.2% after the results came.
Last month, parent company 3M forecast full-year earnings below estimates, saying the macro environment remained muted.
($1 = 82.9950 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Subhranshu Sahu)
(([email protected]; +918447554364;))
3M India hits record high
** Shares of 'Post-it' notes maker 3M India TMIN.NS rise as much as 7.5% to 33,499.90 rupees, hitting a record high
** Stock posts it busiest session since late Feb, trading vol at 25,500 shares, 9.3x the 30-day avg
** Reuters could not immediately confirm a reason for the stock move
** TMIN on track for best day since late May 2022
** Stock last up 6.8%, extending YTD gains to 53%; on track for best year since 2017
(Reporting by Dimpal Gulwani in Bengaluru)
** Shares of 'Post-it' notes maker 3M India TMIN.NS rise as much as 7.5% to 33,499.90 rupees, hitting a record high
** Stock posts it busiest session since late Feb, trading vol at 25,500 shares, 9.3x the 30-day avg
** Reuters could not immediately confirm a reason for the stock move
** TMIN on track for best day since late May 2022
** Stock last up 6.8%, extending YTD gains to 53%; on track for best year since 2017
(Reporting by Dimpal Gulwani in Bengaluru)
3M India Ltd- Approved Re-Appointment Of Ramesh Ramadurai As MD
3M India Ltd TMIN.NS:
3M INDIA LTD- APPROVED RE-APPOINTMENT OF RAMESH RAMADURAI AS MD
Source text for Eikon: ID:nBSE4V2xc5
Further company coverage: TMIN.NS
3M India Ltd TMIN.NS:
3M INDIA LTD- APPROVED RE-APPOINTMENT OF RAMESH RAMADURAI AS MD
Source text for Eikon: ID:nBSE4V2xc5
Further company coverage: TMIN.NS
'Post-it' maker 3M India's Q2 profit jumps on steady demand (Nov 10)
Corrects paragraph 9 in Nov 10 story to say 3M in July 2022 announced plans to spin off its healthcare business, not already spun it off
BENGALURU, Nov 10 (Reuters) - 'Post-it' notes maker 3M India TMIN.NS reported a near 38% jump in its second-quarter profit on Friday, helped by sustained demand for its products.
Consolidated profit after tax came in at 1.46 billion rupees ($17.51 million) for the quarter ended Sept. 30, compared with 1.06 billion rupees a year earlier, the Indian arm of U.S.-based diversified manufacturer 3M Co MMM.N said in a filing.
The Bengaluru-based company makes a host of products including 'Scotch' tape, 'Post-it' notes, power tools, and bandages.
It reported a more than 6% rise in revenue from operations to 10.4 billion rupees, helped by a near 5% growth in the transportation and electronics segment.
A revival in automotive production and increasing focus on localised production of mobile phones has helped buoy demand for the company's transportation and electronics products, analysts have said.
Its safety and industrial segment - which counts face shields and construction hats in its lineup - grew more than 3%.
Shares of 3M India, which have risen nearly 44% so far this year, were up as much as 2.15% post results before closing 0.6% lower.
On Friday, the company approved terms of arrangement with four U.S. entities for licensed manufacturing, reselling and distributorship of its healthcare business in India and Nepal.
This comes after parent 3M Co announced plans to spin off its healthcare business in July 2022, while proposing to maintain the segment's manufacturing and distribution operations in India through the local unit.
The agreements have an initial term of five years and will become effective upon the spin-off's completion, expected during the first half of 2024.
($1 = 83.3719 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)
(([email protected]; X: @MukherjeeHritam;))
Corrects paragraph 9 in Nov 10 story to say 3M in July 2022 announced plans to spin off its healthcare business, not already spun it off
BENGALURU, Nov 10 (Reuters) - 'Post-it' notes maker 3M India TMIN.NS reported a near 38% jump in its second-quarter profit on Friday, helped by sustained demand for its products.
Consolidated profit after tax came in at 1.46 billion rupees ($17.51 million) for the quarter ended Sept. 30, compared with 1.06 billion rupees a year earlier, the Indian arm of U.S.-based diversified manufacturer 3M Co MMM.N said in a filing.
The Bengaluru-based company makes a host of products including 'Scotch' tape, 'Post-it' notes, power tools, and bandages.
It reported a more than 6% rise in revenue from operations to 10.4 billion rupees, helped by a near 5% growth in the transportation and electronics segment.
A revival in automotive production and increasing focus on localised production of mobile phones has helped buoy demand for the company's transportation and electronics products, analysts have said.
Its safety and industrial segment - which counts face shields and construction hats in its lineup - grew more than 3%.
Shares of 3M India, which have risen nearly 44% so far this year, were up as much as 2.15% post results before closing 0.6% lower.
On Friday, the company approved terms of arrangement with four U.S. entities for licensed manufacturing, reselling and distributorship of its healthcare business in India and Nepal.
This comes after parent 3M Co announced plans to spin off its healthcare business in July 2022, while proposing to maintain the segment's manufacturing and distribution operations in India through the local unit.
The agreements have an initial term of five years and will become effective upon the spin-off's completion, expected during the first half of 2024.
($1 = 83.3719 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)
(([email protected]; X: @MukherjeeHritam;))
3M India Sept-Quarter Consol PAT Rises
Nov 10 (Reuters) - 3M India Ltd TMIN.NS:
3M INDIA SEPT-QUARTER CONSOL PAT 1.46 BILLION RUPEES VERSUS PROFIT 1.06 BILLION RUPEES
3M INDIA SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 10.4 BILLION RUPEES VERSUS 9.77 BILLION RUPEES
APPROVED DRAFT OF BINDING TERM SHEET PROPOSED TO BE EXECUTED WITH 3M HEALTHCARE US OPCO, LLC AND OTHERS
TERM SHEET SETS-OUT TERMS FOR LICENSED MANUFACTURING, RESELLING, DISTRIBUTORSHIP TO BE ENTERED BETWEEN ENTITIES, CO
Source text for Eikon: ID:nBSE7sPHrW
Further company coverage: TMIN.NS
(([email protected];))
Nov 10 (Reuters) - 3M India Ltd TMIN.NS:
3M INDIA SEPT-QUARTER CONSOL PAT 1.46 BILLION RUPEES VERSUS PROFIT 1.06 BILLION RUPEES
3M INDIA SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 10.4 BILLION RUPEES VERSUS 9.77 BILLION RUPEES
APPROVED DRAFT OF BINDING TERM SHEET PROPOSED TO BE EXECUTED WITH 3M HEALTHCARE US OPCO, LLC AND OTHERS
TERM SHEET SETS-OUT TERMS FOR LICENSED MANUFACTURING, RESELLING, DISTRIBUTORSHIP TO BE ENTERED BETWEEN ENTITIES, CO
Source text for Eikon: ID:nBSE7sPHrW
Further company coverage: TMIN.NS
(([email protected];))
3M India Approved Amendments To Intellectual Property Agreement With 3M Co USA, 3M Innovative Properties Co
Sept 29 (Reuters) - 3M India Ltd TMIN.NS:
3M INDIA LTD - APPROVED AMENDMENTS TO INTELLECTUAL PROPERTY AGREEMENT WITH 3M CO USA, 3M INNOVATIVE PROPERTIES CO
Source text for Eikon: [ID:]
Further company coverage: TMIN.NS
(([email protected];))
Sept 29 (Reuters) - 3M India Ltd TMIN.NS:
3M INDIA LTD - APPROVED AMENDMENTS TO INTELLECTUAL PROPERTY AGREEMENT WITH 3M CO USA, 3M INNOVATIVE PROPERTIES CO
Source text for Eikon: [ID:]
Further company coverage: TMIN.NS
(([email protected];))
3M India June-Quarter Consol PAT Rises
Aug 10 (Reuters) - 3M India Ltd TMIN.NS:
3M INDIA JUNE-QUARTER CONSOL PAT 1.29 BILLION RUPEES VERSUS 842.6 MILLION RUPEES
3M INDIA JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 10.5 BILLION RUPEES VERSUS 9.44 BILLION RUPEES
Source text for Eikon: ID:nBSENzYwt
Further company coverage: TMIN.NS
(([email protected];))
Aug 10 (Reuters) - 3M India Ltd TMIN.NS:
3M INDIA JUNE-QUARTER CONSOL PAT 1.29 BILLION RUPEES VERSUS 842.6 MILLION RUPEES
3M INDIA JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 10.5 BILLION RUPEES VERSUS 9.44 BILLION RUPEES
Source text for Eikon: ID:nBSENzYwt
Further company coverage: TMIN.NS
(([email protected];))
3M India hits 15-month high as Q4 profit jumps
** Shares of 3M India Ltd TMIN.NS rise as much as 3.5% to 24,999.5 rupees, their highest since Feb. 2022
** Diversified science and technology co reports a 22.4% rise in March-qtr consolidated profit after tax of 1.36 billion rupees ($16.44 million)
** Revenue from operations rose ~13% Y/Y to 10.46 billion rupees
** Stock trading above its 50-, 100-, and 200-day exponential moving averages for nine consecutive sessions
** About 8,941 shares change hands by 2:33 p.m. IST, 2.2x the 30-day avg - Refinitiv data
** Stock last up 1.6%, extending YTD gains to 11.6%
($1 = 82.7387 Indian rupees)
(Reporting by Priya Sagar in Bengaluru)
** Shares of 3M India Ltd TMIN.NS rise as much as 3.5% to 24,999.5 rupees, their highest since Feb. 2022
** Diversified science and technology co reports a 22.4% rise in March-qtr consolidated profit after tax of 1.36 billion rupees ($16.44 million)
** Revenue from operations rose ~13% Y/Y to 10.46 billion rupees
** Stock trading above its 50-, 100-, and 200-day exponential moving averages for nine consecutive sessions
** About 8,941 shares change hands by 2:33 p.m. IST, 2.2x the 30-day avg - Refinitiv data
** Stock last up 1.6%, extending YTD gains to 11.6%
($1 = 82.7387 Indian rupees)
(Reporting by Priya Sagar in Bengaluru)
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What does 3M India do?
3M India Limited, a flagship Company of 3M Company, USA in India, operates in Safety and Industrial, Transportation & Electronics, Health Care, and Consumer segments. They leverage common technologies to develop innovative products and services in a competitive market.
Who are the competitors of 3M India?
3M India major competitors are Honeywell Automation, AIA Engineering, Thermax, Inox Wind, BEML, Triveni Turbine, Tega Industries. Market Cap of 3M India is ₹32,644 Crs. While the median market cap of its peers are ₹25,889 Crs.
Is 3M India financially stable compared to its competitors?
3M India seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does 3M India pay decent dividends?
The company seems to pay a good stable dividend. 3M India latest dividend payout ratio is 126.6% and 3yr average dividend payout ratio is 172.01%
How has 3M India allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances
How strong is 3M India balance sheet?
Balance sheet of 3M India is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of 3M India improving?
The profit is oscillating. The profit of 3M India is ₹497 Crs for TTM, ₹476 Crs for Mar 2025 and ₹583 Crs for Mar 2024.
Is the debt of 3M India increasing or decreasing?
Yes, The net debt of 3M India is increasing. Latest net debt of 3M India is -₹1,874.77 Crs as of Mar-25. This is greater than Mar-24 when it was -₹2,715.69 Crs.
Is 3M India stock expensive?
3M India is not expensive. Latest PE of 3M India is 65.74, while 3 year average PE is 82.61. Also latest EV/EBITDA of 3M India is 39.34 while 3yr average is 53.78.
Has the share price of 3M India grown faster than its competition?
3M India has given lower returns compared to its competitors. 3M India has grown at ~7.94% over the last 3yrs while peers have grown at a median rate of 25.82%
Is the promoter bullish about 3M India?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in 3M India is 75.0% and last quarter promoter holding is 75.0%.
Are mutual funds buying/selling 3M India?
The mutual fund holding of 3M India is decreasing. The current mutual fund holding in 3M India is 6.98% while previous quarter holding is 7.05%.