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Results
13-Aug-22
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Analysis
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3M India
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Net jumps 180% largely on strong operating show
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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 ended | Year ended |
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Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
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Net Sales (including other operating income) | 943.60 | 743.87 | 26.85 | 3,335.84 | 2,604.83 | 28.06 | OPM (%) | 12.34 | 6.44 | 591 bps | 11.67 | 9.96 | 171 bps | OP | 116.46 | 47.88 | 143.23 | 389.24 | 259.49 | 50.00 | Other Inc. | 11.46 | 7.99 | 43.43 | 37.12 | 24.74 | 50.04 | PBIDT | 127.92 | 55.87 | 128.96 | 426.36 | 284.23 | 50.01 | Interest | 0.54 | 0.58 | -6.90 | 3.72 | 2.45 | 51.84 | PBDT | 127.38 | 55.29 | 130.39 | 422.64 | 281.78 | 49.99 | Depreciation | 14.28 | 14.77 | -3.32 | 55.12 | 61.85 | -10.88 | PBT | 113.10 | 40.52 | 179.12 | 367.52 | 219.93 | 67.11 | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | PBT before EO | 113.1 | 40.52 | 179.12 | 367.52 | 219.93 | 67.11 | EO Income | 0 | 0 | - | 0 | 0 | - | PBT after EO | 113.1 | 40.52 | 179.12 | 367.52 | 219.93 | 67.11 | Taxation | 28.84 | 10.42 | 176.78 | 95.55 | 57.55 | 66.03 | PAT | 84.26 | 30.1 | 179.93 | 271.97 | 162.38 | 67.49 | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | Net profit | 84.26 | 30.1 | 179.93 | 271.97 | 162.38 | 67.49 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 84.26 | 30.1 | 179.93 | 271.97 | 162.38 | 67.49 | EPS (Rs)* | 74.76 | 26.71 | 179.93 | 241.32 | 144.08 | 67.49 | | * 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 |
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3M India : Consolidated Segment Results | | Quarter ended | Year ended |
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| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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Sales | Safety & Industrial | 32.98 | 311.22 | 287.71 | 8.17 | 35.78 | 1,193.66 | 1,012.50 | 17.89 | Transportation & Electronics | 38.83 | 366.40 | 237.67 | 54.17 | 35.20 | 1,174.23 | 890.34 | 31.89 | Health Care | 16.57 | 156.40 | 130.07 | 20.24 | 16.55 | 552.12 | 362.01 | 52.52 | Consumer | 10.74 | 101.34 | 80.86 | 25.33 | 11.62 | 387.49 | 312.86 | 23.85 | Others | 0.87 | 8.24 | 7.57 | 8.78 | 0.85 | 28.34 | 27.13 | 4.46 | Total Reported Sales | 100.00 | 943.60 | 743.87 | 26.85 | 100.00 | 3,335.84 | 2,604.83 | 28.06 | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | Net Sales | 100.00 | 943.60 | 743.87 | 26.85 | 100.00 | 3,335.84 | 2,604.83 | 28.06 | PBIT | Safety & Industrial | 22.30 | 22.79 | 2.77 | 722.95 | 25.45 | 85.04 | 103.92 | -18.17 | Transportation & Electronics | 34.04 | 34.79 | -2.83 | LP | 27.23 | 90.98 | 14.19 | 541.15 | Health Care | 19.54 | 19.97 | 16.56 | 20.54 | 20.33 | 67.92 | 30.47 | 122.90 | Consumer | 20.19 | 20.63 | 12.61 | 63.59 | 23.17 | 77.42 | 39.86 | 94.25 | Others | 3.93 | 4.02 | 4.00 | 0.51 | 3.82 | 12.77 | 9.20 | 38.77 | Total PBIT | 100.00 | 102.18 | 33.10 | 208.67 | 100.00 | 334.12 | 197.64 | 69.06 | Less : Interest | | 0.54 | 0.58 | -8.24 | | 3.72 | 2.45 | 51.60 | Add: Other un-allcoable | | 11.46 | 7.99 | 43.35 | | 37.12 | 24.74 | 50.04 | PBIT Margin(%) | Safety & Industrial | | 7.32 | 0.96 | 635.92 | | 7.12 | 10.26 | -313.94 | Transportation & Electronics | | 9.49 | -1.19 | 1,068.60 | | 7.75 | 1.59 | 615.40 | Health Care | | 12.77 | 12.73 | 3.15 | | 12.30 | 8.42 | 388.43 | Consumer | | 20.35 | 15.59 | 475.91 | | 19.98 | 12.74 | 724.04 | Others | | 48.76 | 52.77 | -400.99 | | 45.05 | 33.91 | 1,113.68 | PBT | 100.00 | 113.10 | 40.51 | 179.18 | 100.00 | 367.52 | 219.92 | 67.11 |
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