3M India share price: Shares of industrial equipment company, 3M India, dropped 3.72 per cent to hit an intraday low of Rs 33,530 per share on Wednesday, November 13, 2024.
The 3M India scrip fell after the company posted a weak set of numbers in the September quarter of financial year 2025 (Q2FY25).
The company’s profit fell 8.4 per cent year-on-year (Y-o-Y) to Rs 133.8 crore in the September quarter of FY25, from Rs 146.1 crore in the September quarter of FY24.
However, the revenue from operations soared 6.9 per cent year-on-year to Rs 1,110.8 crore in Q2FY25, from Rs 1,039.5 crore in Q2FY24.
At the operational level, earnings before interest, tax, depreciation and amortisation (Ebitda), also known as operating profit, slipped 4.6 per cent annually to Rs 183.3 crore in Q2FY25, from Rs 192.1 crore in Q2FY24.
Consequently, Ebitda margin dropped 200 basis points (bps) to 16.5 per cent in the September quarter of FY25, from 18.5 per cent in the September quarter of FY24.
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Ramesh Ramadurai, managing director of 3M India, said “The company delivered growth broadly in-line with end use markets, with outperformance in certain segments such as automotive, consumer and healthcare. We experienced cost headwinds both due to elevated freight costs as well as material cost increases. In this environment, our teams were focused on serving our customers efficiently through effective cross-functional collaboration.”
3M India Limited, established in 1988, operates as the Indian subsidiary of the US--based 3M Company. Headquartered in Bengaluru, with branch offices in Gurgaon and Pune, the company leverages global innovation to create solutions tailored for the Indian market.
The company has innovation centres in Bengaluru and Gurgaon,while its manufacturing facilities are located in Bengaluru, Pune, and Ahmedabad.
3M India's product offerings span a wide range, from manufacturing efficiency and healthcare solutions to road safety, kitchen aids, and car care products.
The company falls under the BSE 200 category. 3M India’s market capitalisation is Rs 37,771.78 crore, according to BSE.
At 1:10 PM, 3M India shares were trading 3.67 per cent lower at Rs 33,550 per share. In comparison, BSE Sensex was down 0.86 per cent at 77,996.84 levels.