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.
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.
Please use the temporary password sent on your email id or mobile no.
Update Mobile no.
Why you need to update your Mobile number ?
By providing verified mobile number we provide more exclusive information in the website.
Update Mobile no.
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.