Results     13-Aug-22
Analysis
3M India
Net jumps 180% largely on strong operating show
 

Consolidated net sales (including other operating income) of 3M India for the quarter ended Jun 2022 has increased 26.85% to Rs 943.6 crore.  Operating profit margin has jumped from 6.44% to 12.34%, leading to 143.23% rise in operating profit to Rs 116.46 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 43.39% to 44.24%.   Purchase of finished goods cost fell from 26.14% to 21.30%.   Employee cost decreased from 11.91% to 10.27%.   Other expenses fell from 12.74% to 12.59%.   Other income rose 43.43% to Rs 11.46 crore.  PBIDT rose 128.96% to Rs 127.92 crore.  Provision for interest fell 6.90% to Rs 0.54 crore.  PBDT rose 130.39% to Rs 127.38 crore.  Provision for depreciation fell 3.32% to Rs 14.28 crore.  Profit before tax grew 179.12% to Rs 113.10 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 28.84 crore, compared to Rs 10.42 crore.  Effective tax rate was 25.50% compared to 25.72%. Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 179.93% to Rs 84.26 crore.  
  • Sales of Safety & Industrial segment has gone up 8.17% to Rs 311.22 crore (accounting for 32.98% of total sales).  Sales of Transportation & Electronics segment has gone up 54.17% to Rs 366.40 crore (accounting for 38.83% of total sales).  Sales of Health Care segment rose 20.24% to Rs 156.40 crore (accounting for 16.57% of total sales).  Sales of Consumer segment has gone up 25.33% to Rs 101.34 crore (accounting for 10.74% of total sales).  Sales of Others segment has gone up 8.78% to Rs 8.24 crore (accounting for 0.87% of total sales).  
  • Profit before interest, tax and other unallocable items (PBIT) has jumped 208.67% to Rs 102.18 crore.  PBIT of Safety & Industrial segment rose 722.95% to Rs 22.79 crore (accounting for 22.30% of total PBIT).  PBIT of Transportation & Electronics reported profit of Rs 34.79 crore compared to loss of Rs 2.83 crore.  PBIT of Health Care segment rose 20.54% to Rs 19.97 crore (accounting for 19.54% of total PBIT).  PBIT of Consumer segment rose 63.59% to Rs 20.63 crore (accounting for 20.19% of total PBIT).  PBIT of Others segment rose 0.51% to Rs 4.02 crore (accounting for 3.93% of total PBIT).  
  • PBIT margin of Safety & Industrial segment rose from 0.96% to 7.32%.  PBIT margin of Transportation & Electronics segment rose from negative 1.19% to 9.49%.  PBIT margin of Health Care segment rose from 12.73% to 12.77%.  PBIT margin of Consumer segment rose from 15.59% to 20.35%.  PBIT margin of Others segment fell from 52.77% to 48.76%.  Overall PBIT margin rose from 4.45% to 10.83%.  

Promoters’ stake was 75.00% as of 30 June 2022 ,compared to 75.00% as of 30 June 2021 .  

 



3M India : Consolidated Results
 Quarter endedYear ended
Particulars202206202106Var.(%)202203202103Var.(%)
Net Sales (including other operating income)943.60743.8726.853,335.842,604.8328.06
OPM (%)12.346.44591 bps11.679.96171 bps
OP116.4647.88143.23389.24259.4950.00
Other Inc.11.467.9943.4337.1224.7450.04
PBIDT127.9255.87128.96426.36284.2350.01
Interest0.540.58-6.903.722.4551.84
PBDT127.3855.29130.39422.64281.7849.99
Depreciation14.2814.77-3.3255.1261.85-10.88
PBT113.1040.52179.12367.52219.9367.11
Share of Profit/(Loss) from Associates00-00-
PBT before EO113.140.52179.12367.52219.9367.11
EO Income00-00-
PBT after EO113.140.52179.12367.52219.9367.11
Taxation28.8410.42176.7895.5557.5566.03
PAT84.2630.1179.93271.97162.3867.49
Minority Interest (MI)00-00-
Net profit84.2630.1179.93271.97162.3867.49
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations84.2630.1179.93271.97162.3867.49
EPS (Rs)*74.7626.71179.93241.32144.0867.49
* EPS is on current equity of Rs 11.27 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database


3M India : Consolidated Segment Results
 Quarter endedYear ended
% of (Total)202206202106Var.(%)% of (Total)202203202103Var.(%)
Sales
Safety & Industrial32.98311.22287.718.1735.781,193.661,012.5017.89
Transportation & Electronics38.83366.40237.6754.1735.201,174.23890.3431.89
Health Care16.57156.40130.0720.2416.55552.12362.0152.52
Consumer10.74101.3480.8625.3311.62387.49312.8623.85
Others0.878.247.578.780.8528.3427.134.46
Total Reported Sales100.00943.60743.8726.85100.003,335.842,604.8328.06
Less: Inter segment revenues 0.000.00- 0.000.00-
Net Sales100.00943.60743.8726.85100.003,335.842,604.8328.06
PBIT
Safety & Industrial22.3022.792.77722.9525.4585.04103.92-18.17
Transportation & Electronics34.0434.79-2.83LP27.2390.9814.19541.15
Health Care19.5419.9716.5620.5420.3367.9230.47122.90
Consumer20.1920.6312.6163.5923.1777.4239.8694.25
Others3.934.024.000.513.8212.779.2038.77
Total PBIT100.00102.1833.10208.67100.00334.12197.6469.06
Less : Interest0.540.58-8.243.722.4551.60
Add: Other un-allcoable11.467.9943.3537.1224.7450.04
PBIT Margin(%)
Safety & Industrial 7.320.96635.92 7.1210.26-313.94
Transportation & Electronics 9.49-1.191,068.60 7.751.59615.40
Health Care 12.7712.733.15 12.308.42388.43
Consumer 20.3515.59475.91 19.9812.74724.04
Others 48.7652.77-400.99 45.0533.911,113.68
PBT100.00113.1040.51179.18100.00367.52219.9267.11
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