3M India Ltd's Q1FY19 standalone net profit rises 50.7% yoy to Rs99.6cr: Beats Estimates

The company’s standalone revenue stood at Rs700.70cr, up 5.48% yoy.

Aug 09, 2018 11:08 IST India Infoline Research Team

3M India Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 700.7 5.5
EBITDA 154.4 56.1
EBITDA Margin (%) 22.0 714
Net Profit (adjusted) 99.6 50.7
***EBITDA margin change is bps

3M India reported robust Q1FY19 numbers, particularly on the profitability front. Sales have increased 5.5% yoy to Rs700.7cr vs. expectation of Rs664.3cr. EBITDA increased 56.1% yoy to Rs154.4cr during the quarter from Rs98.9cr in Q1FY18. EBITDA margin improved 714bps yoy to 22.0% in Q1FY19. Net profit grew 50.7% yoy to Rs99.6cr.

• Segmentwise sales were tepid at Rs284.3cr (up 1% yoy) for the Industrial segment, which contributed 41% to Q1FY19 revenues. Consumer segment revenue was up 4% yoy to Rs72.6cr (10% of sales), while the Energy segment grew 10% yoy to Rs49.3cr (7% of sales). The Healthcare and Safety & Graphics segments reported flattish performance.

• There has been considerable yoy improvement in EBIT for all segments leading to strong profitability. Notably, the Industrial segment margin improved from 12.3% to 22.3% in Q1FY19. Healthcare improved from 18.1% to 25.9% in Q1FY19. The Safety and Graphics segment increased from 8.5% to 16.1% in Q1FY19. Consumer segment margin increased from 14.7% to 18.7% in Q1FY19. 

Technical View:

3M India Ltd ended at Rs. 24,052.10, up by 188.6 points or 0.79% from its previous closing of Rs. 23,863.50 on the BSE.
The scrip opened at Rs. 23,943.35 and touched a high and low of Rs. 24,540 and Rs. 23,803 respectively. A total of 9,539 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

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