3M India
3M India breached the upper circuit at Rs.12154.65, up 20% and this was on account of its block buster Q3FY16 numbers. Its 52-week high is Rs.12899. The company for the quarter jumped up 17% (YoY) at Rs.511 crore. EBITDA was up 157%, up from Rs.35 crore to Rs.90 crore. Margins have improved from 8.04% to 17.61%. Net profit was up over 3 times at Rs.57 crore. The company, for 9MFY16 posted a net profit at Rs.143 crore and this has already surpassed entire FY15 net profit of Rs.11 crore.
The parent company, American MNC, 3M holds 75% stake in the Indian company and as at 31st Dec 2015, FIIs stake is at 9.64%. The company in April’14 delisted from Calcutta Stock Exchange and there is probably hope that it could go for delisting from Indian bourses.
The company markets about 7000 products in India. It operates in five operating business segments – (1)Industrial and Transportation business, which include tapes, which are used in the manufacture, repair and maintenance of automotive, marine, aircraft and specialty vehicles. (2) Health Care business which includes medical and surgical supplies, medical devices, skin and wound care and infection prevention products. (3)Safety and graphics include personal protection products, brand and asset protection solutions, border control products, passive fire protection products. (4)Consumer and Office Business portfolio brands include Scotch-Brite brand, Scotch brand, Post-it and Scotchguard brand. (5) Energy which includes electronic devices, telecom networks and renewable energy.