Interim report
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3M India Limited 5th Floor Marksquare 61, St Marks Road Bengaluru 560001, India Tel: +91 80 22231414 www.3M.com/in Regd Office: Plot No 48-51 Electronics City, Bangalore 560100, India CIN No: L31300KA1987PLC013543 Corporate Relationship Department February 7, 2025 BSE Limited 1st Floor, New Trading Ring, Rotunda Building P.J. Towers, Dalal Street, Fort Mumbai - 400 001 Scrip Code - 523395 The Secretary National Stock Exchange of India Limited Exchange Plaza, Bandra – Kurla Complex Bandra (E), Mumbai – 400 051 Scrip Code – 3MINDIA Dear Sirs, Sub: Outcome of the Board Meeting held on Friday, February 7, 2025. Ref: Reg. 30(2) and Reg. 33 of SEBI (LODR) Regulations, 2015. In continuation of our letter dated January 21, 2025, we hereby inform you that the Board of Directors of the Company at its Meeting held on February 7, 2025 (Friday) has transacted the following business items inter-alia others: 1. The Un-audited Financial Results for the quarter and nine months ended December 31, 2024 were approved by the Board of Directors and were signed by Mr. Ramesh Ramadurai, Managing Director of the Company; same are attached as “Annexure-1”. We are arranging publication of financial results in the newspapers and on the website of the Company as required under Reg. 33 read with 47 of SEBI (LODR) Regulations, 2015. 2. The Limited Review Report by the Statutory Auditors on the Un-audited Financial Results is attached herewith as “Annexure-2”. 3. Press Release is enclosed as - “Annexure 3”. The Meeting commenced at 1.00 P.M.(IST) and concluded at 1.45 P.M.(IST). Please take all the above on record and kindly treat this as compliance with Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Thanking you Yours faithfully For 3M India Limited Pratap Rudra Bhuvanagiri Company Secretary & Compliance Officer Encl: as above 3M
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3MINDIALIMITED RegdOffice:PlotNo48-51,FlectronicsCity,HosurRoad,Bengaluru-560100 CIN:L31300KA1987PLC013543IWebsite:www.3m.com/inIEmail:investorhelpdesk.in@mmm.com ExtractoftheFinancialResultsforthequarterandninemonthsended31December2024 (Rs.inLakhs,exceptpersharedata,unlessotherwisestated) Notes: Particulars3monthsended 31December2024 9monthsended 31December2024 (refernote3) 3monthsended 31December2023 (refernote3) 12monthsended 31March2024 (refernote3) UnauditedUnauditedUnauditedAudited Totalincomefromoperations(includingotherincome)110,677.92330,407.53102,218.31426,765.33 NetProfitfortheperiod(beforetax.Exceptionaland/orExtraordinaryitems)15,410.6954,818.1218,122.6178,121.42 NetProfitfortheperiodbeforetax(afterExceptionaland/orExtraordinaryitems)15,410.6954,818.1218,122.6178,121.42 NetProfitfortheperiodaftertax11,376.6040,469.6313,523.6958,341.68 Totalcomprehensiveincomefortheperiod[ComprisingProfit/(Loss)fortheperiod (aftertax)andothercomprehensiveincome/(loss)(aftertax)] 11,100.4140,126.7813,271.8258,208.36 Equitysharecapital1,126.511.126.511.126.511,126.51 Reserves(excludingrevaluationreservesasperIndAS)213,563.83 Earningspershare(inRs.)(ofRs.10/-each) a)Basic(inRs.)100.99359.25120.05517.90 b)Diluted(inRs.)100.99359.25120.05517.90 1.Theaboveunauditedfinancialresultsof3MIndiaLimitedhavebeenreviewedbytheAuditCommitteeandthereafterapprovedbytheBoardofDirectorsattheirmeetingheldon07 February2025. 2.ThefinancialresultsoftheCompanyhavebeenpreparedinaccordancewithIndianAccountingStandards(IndAS)asnotifiedbytheMinistryofCorporateAffairspursuanttoSection133 oftheCompaniesAct,2013readwithRule3oftheCompanies(IndianAccountingStandard)Rules2015,asamendedandintermsofRegulation33oftheSEBI(ListingObligationsand DisclosureRequirements)Regulations,2015. 3.TheBoardsofDirectorsoftheCompanyand3MElectroandCommunicationIndiaPrivateLimited(3ME&C),whollyownedsubsidiaryoftheCompany,attheirmeetingsheldon17 September2021hadapprovedtheSchemeofAmalgamationof3ME&CwiththeCompanyunderSections230to232oftheCompaniesAct2013readwiththeCompanies(Compromises, ArrangementsandAmalgamations)Rules,2016.TheSchemeofAmalgamationwasapprovedbytheNationalCompanyLawTribunal(NCLT)videitsordersdated8August2024 (BangaloreBench)and25August2023(ChennaiBranch)(‘theScheme')withretrospectiveappointeddateof1April2023. Accordingly,thecorrespondingamountsforthequarterandninemonthsended31December2023andyearended31March2024havebeenrestatedbytheCompanyafterrecognising theeffectoftheschemeaspertheapplicableaccountingstandards. TheamalgamationhasbeenaccountedinaccordancewithAppendixCofIndAS103-‘BusinessCombinations’ascommoncontroltransactionusingthepoolingofinterestmethod. Accordingly,alltheassets,liabilitiesandreservesof3ME&Cason1April2023weretransferredtotheCompanyatthebookvaluesappearingintheconsolidatedbooksoftheCompany immediatelybeforetheamalgamationandthevalueofinvestmentwascancelled. 4.Theaboveisanextractofthedetailedformatfortheunauditedfinancialresultsforthequarterandninemonthsended31December2024filedwiththeStockExchangesunder Regulation33oftheSEBI(ListingandOtherDisclosureRequirements)Regulations.2015.Thefullformatfortheunauditedfinancialresultsforthequarterandninemonthsended31 December2024areavailableontheStockExchangewebsitesviz.www.bseindia.com,www.nseindia.comandontheCompany'swebsite(https://www.3mindia.in/3M/en_IN/company- in/about-3m/fmancial-facts-local/).ThesamecanbeaccessedbyscanningtheQRcodeprovidedbelow. Place:Bengaluru Date:07February2025 QRCODE ndonbehalfoftheBoard iaLimited Ramadurai ManagingDirector RegisteredOfficePlotNo48-51.ElectronicsCity.HosurRoad.Bengaluru-560100 www3mcom/in
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3MINDIALIMITED 5thFloorMarksquare 61.StMarksRoad Bengaluru560001 India Tele+918022231414 ONNo.L31300KA1987PLC013543 3MINDIALIMITED REGDOFFICE:PLOTNO.48-51,ELECTRONICSCITY,HOSURROAD.BENGALURU560100 STATEMENTOFFINANCIALRESULTSFORTHEQUARTERANDNINEMONTHSENDEDDECEMBER2024 RsinLakhs(exceptinrespectofitem12) SI No Particulars3monthsended 31December2024 (Unaudited) 3monthsended 30September2024 (Unaudited) 3monthsended 31December2023 (Unaudited) (refernote5) 9monthsended 31December2024 (Unaudited) (refernote5) 9monthsended 31December2023 (Unaudited) (refernote5) 12monthsended 31March2024 (Audited) (refernote5) 1 2 3 4 5 6 7 8 9 10 11 12 Income (a)Revenuefromoperations (b)Otherincome Totalincome Expenses (a)Costofmaterialsconsumed (b)Purchasesofstock-in-trade (c)Changesininventonesoffinishedgoods,stock-in-tradeandwork-in-progress (d)Employeebenefitexpenses (e)Financecosts (f)Depreciationandamortisationexpense (g)Otherexpenses Totalexpenses Profitbeforeexceptionalitemsandtax(1-2) Exceptionalitems Profitbeforetax(3+4) Taxexpense: (a)Currenttax (b)Deferredtax Total Profitaftertax(5-6) Othercomprehensiveincome/(loss)(netoftax)- Itemsthatwillnotbereclassifiedsubsequentlytostatementofprofitandloss (a)Remeasurementsofnetdefinedbenefitliability (b)Incometaxrelatingtoitemsnottobereclassifiedsubsequentlytostatementof profitandloss Totalothercomprehensiveincome/(loss)(netoftax) Totalcomprehensiveincome(7+8) Paidupequitysharecapital(facevalueofRs10each) Otherequity Earningspershare(inRs.) (facevalueofRs.10each)(notannualisedforthequarters) (a)Basic (b)Diluted 108,99496 1,68296 110,677.92 49,00807 15,46313 2,23505 11,08642 27903 1.40140 15,79413 95,267.23 15,410.69 15,410.69 4,03214 195 4,034.09 11,376.60 (36909) 9290 (276.19) 11,100.41 1,12651 10099 10099 111.08030 1.81657 112,896.87 45.27650 25,80292 (3,81901) 10,77500 43985 1,39890 14,71179 94,585.95 18,310.92 18,310.92 4,68930 24354 4,932.84 13,378.08 (44,54) 1121 (33.33) 13.344.75 1,12651 11876 11876 100,56443 165388 102,218.31 39,75905 17,61173 2,18924 9,581.53 7673 1,31258 13,56484 84,095.70 18,122.61 18,122.61 4.54395 5497 4,598.92 13,523.69 (33659) 8472 (251.87) 13,271.82 1,12651 12005 12005 324.73236 5,67517 330,407.53 137,67697 62129.66 (5,59081) 32,52177 98564 4,15830 43,70788 275,589.41 54,818.12 54,818.12 14,079.07 26942 14,348.49 40,469.63 (45817) 115.32 (342.85) 40,126.78 1,12651 35925 35925 309,48161 4,81109 314,292.70 118,54403 63,20105 379140 29,96140 24717 3,99381 39,51378 259,252.64 55,040.06 55,040.06 13.95502 2868 13,983.70 41,056.36 (30923) 7784 (231.39) 40,824.97 1,12651 36446 36446 418.93624 7,82909 426,765.33 159,94630 85,92813 4.84831 39,18488 32165 5.29356 53,12108 348,643.91 78,121.42 78,121.42 19,78977 (1003) 19,779.74 58,341.68 (17816) 4484 (133.32) 58,208.36 1,12651 213,56383 51790 51790 Notes: 1Theabovefinancialresultsof3MIndiaLimitedhavebeenreviewedbytheAuditCommitteeandthereafterapprovedbytheBoardofDirectorsinitsmeetingheldon07February2025 2TheabovestatementoftheCompanyhasbeenreviewedbytheStatutoryAuditorsandtheyhaveissuedanunqualifiedreviewopiniononthesameThereviewreportoftheStatutoryAuditorisbeingfiledwithNational StockExchangeofIndiaLimited("NSE")andBSELimited("BSE”)andisalsoavailableontheCompany'swebsiteathttps//www3mindiain/3M/en_IN/company-m/about-3m/financial-facls-local/ 3TheabovefinancialresultsoftheCompanyhavebeenpreparedinaccordancewithIndianAccountingStandards(IndAS)asnotifiedbytheMinistryofCorporateAffairspursuanttoSection133oftheCompaniesAct, 2013readwithRule3oftheCompanies(IndianAccountingStandard)Rules2015,asamendedandintermsofRegulation33oftheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015 4TheCompanyhasnosubsidiary/associate/jointventurecompany(ies)ason31December2024 5TheBoardsofDirectorsoftheCompanyand3MElectroandCommunicationIndiaPnvateLimited(3ME&C),whollyownedsubsidiaryoftheCompany,attheirmeetingsheldon17September2021hadapprovedthe SchemeofAmalgamationof3ME&CwiththeCompanyunderSections230to232oftheCompaniesAct2013readwiththeCompanies(CompromisesArrangementsandAmalgamations)Rules,2016TheSchemeof AmalgamationwasapprovedbytheNationalCompanyLawTribunal(NCLT)videitsordersdated8August2024(BangaloreBench)and25August2023(ChennaiBranch)(theScheme)withretrospectiveappointed dateof1Apnl2023. Accordingly,thecorrespondingamountsforthequarterandninemonthsended31December2023andyearended31March2024havebeenrestatedbytheCompanyafterrecognisingtheeffectoftheschemeasper theapplicableaccountingstandards TheamalgamationhasbeenaccountedinaccordancewithAppendixCofIndAS103-BusinessCombinations'ascommoncontroltransactionusingthepoolingofinterestmethodAccordingly,alltheassets,liabilities andreservesof3ME&Cason1Apnl2023weretransferredtotheCompanyatthebookvaluesappearingintheconsolidatedbooksoftheCompanyimmediatelybeforetheamalgamationandthevalueofinvestment wascancelled Theeffectofamalgamationontheamountoftherevenueandprofitandlosspublishedinpreviouspenodsareasshownbelow Particulars3monthsended 31December2023 (Unaudited) 9monthsended 31December2023 (Unaudited) 12monthsended 31March2024 (Audited) Revenuefromoperations Aspublishedinpreviousquarters Asrestatedfortheeffectofmerger Profitbeforetax Aspublishedinpreviousquarters Asrestatedfortheeffectofmerger Profitaftertax Aspublishedinpreviousquarters Asrestatedfortheeffectofmerger 9417734 10056443 16,70246 18.12261 12,45674 13.52369 289,40439 309.48161 50,306.48 55,04006 37,503.33 41.05636 392,67643 418.93624 71.83060 78.12142 53.62717 5834168 RegisteredOfficePlotNo48-51,ElectronicsCity.HosurRoad,Bengaluru-560100 www3incom/in
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3MINDIALIMITED 5thFloorMarksquare 61,StMarksRoad Bengaluru560001 India Tele:+918022231414 CINNo.:L31300KA1987PLC013543 3MINDIALIMITED REGDOFFICE:PLOTNO.48-51,ELECTRONICSCITY,HOSURROAD.BANGALORE560100 SEGMENT-WISEREVENUE,RESULTS,ASSETSANDLIABILITIESFORTHEQUARTERANDNINEMONTHSENDED31DECEMBER2024 (Rs.inLakhs) Particulars3monthsended3monthsended3monthsended9monthsended9monthsended12monthsended 31December202430September202431December202331December202431December202331March2024 (Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Audited) Segmentrevenue (a)Safety&Industrial33,4099736,042833389561103,2408799.9900013332870 (b)Transportation&Electronics43,5477438,5346839,4633712163833119,85023164.94062 (c)HealthCare19,8748223,2324316,1336663,1491555,508677609259 (d)Consumer11,4113012,4749510,5516034,7653832.5945542,795.93 j(e)Others7511379541520191,938631.538161,77840 Revenuefromoperations108,994.96111,080.30100,564.43324,732.36309,481.61418,936.24 Segmentresults (a)Safety&Industrial2,262293,488984,694989,9786612.4329317.78434 (b)Transportation&Electronics6,871126,042568,8742821,395.7226.4138836,68622 (c)HealthCare3,009615,040046531712,367154,653037.27672 (d)Consumer1,419642,238932,168655,613486,341888,10387 (e)Others444101236915438773586344276283 Total14,006.7616,934.2016,545.4650,128.5950,476.1470,613.98 Less:Financecosts2790343985767398564247.1732165 AddUnallocableincome1,682961,816571,653885,675174.811097,82909 Profitbeforetax15,410.6918,310.9218,122.6154,818.1255,040.0678,121.42 Segmentassets (a)Safety&Industrial53,3583258.1152151,1338553,35832511338554,10139 (b)Transportation&Electronics71,9517066,07014600706171.9517060,0706166,30165 (c)HealthCare25,3718032,8717322,8499225,3718022.8499227,01843 (d)Consumer11,8267912,7806810,3067011,8267910,306709,68147 i(e)Unallocated130,38339105.36379160,26404130,38339160,26404167,71942 Totalsegmentassets292,892.00275,201.55304,625.12292,892.00304,625.12324,822.36 :Segmentliabilities (a)Safety&Industrial27,01309260483827,9641027,0130927,9641030,49210 (b)Transportation&Electronics25,9958323.6014629,1363825,9958329,1363831,93307 (c)HealthCare14,0749713.1964315.12237140749715,1223716,34517 (d)Consumer5.818855,311006.246215818856.246216,18510 (e)Unallocated42,3378740.49330288491342,3378728,8491325,17658 Totalsegmentliabilities115,240.62108,650.57107,318.19115,240.62107,318.19110,132.02 :Notes: 1TheassetsandliabilitiesareallocabletotheextenttheyareidentifiabletotherespectivesegmentsAlltheothersaregroupedunder'Unallocated' i2SegmentReportingintheabovefinancialresultsBasedonthe"managementapproach"asdefinedinIndAS108-Operatingsegments,theChiefOperatingDecisionMakerevaluatestheCompany's performanceandallocatesresourcesbasedonananalysisofvariousperformanceindicatorsbybusinesssegmentsAccordingly,informationhasbeenpresentedalongthesebusinesssegmentsThe accountingprinciplesusedinthepreparationoftheseabovefinancialresultsareconsistentlyappliedtorecordrevenueandexpenditureinindividualsegments £y Place:Bengaluru Date:07February2025 OrderoftheBoard or3MIndiaLimited TameshRamadurai ManagingDirector RegisterdOffice:PlotNo.48-51,ElectronicsCity,HosurRoad,Bengaluru-560100 www.3m.com/in
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B S R & Co. LLPChartered Accountants Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Limited Review Report on unaudited financial results of 3M India Limited for the quarter ended 31 December 2024 and year to date results for the period from 1 April 2024 to 31 December 2024 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended To the Board of Directors of 3M India Limited 1. We have reviewed the accompanying Statement of unaudited financial results of 3M India Limited (hereinafter referred to as “theCompany") for the quarter ended 31 December 2024 and year to date results for the period from 1 April 2024 to 31 December 2024 (“theStatement”). 2. This Statement, which is the responsibility of the Company's management and approved by its Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" (“IndAS 34”),prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“ListingRegulations”). Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. For B S R & Co. LLP Chartered Accountants Firm’sRegistration No.:101248W/W-100022 Bengaluru 07 February 2025 Umang Banka Partner Membership No.: 223018 UDIN:25223018BMLCUS1004 B S R & Co (a partnership firm with Registration No. BA61223) converted into B S R & Co LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14. 2013 Registered Office: 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4. Nesco Center, Western Express Highway. Goregaon (East), Mumbai - 400063 Page 1 of 1
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3M India Limited 5th Floor Marksquare 61, St Marks Road Bengaluru 560001, India Tel: +91 80 22231414 www.3M.com/in Regd Office: Plot No 48-51, Electronics City, Bengaluru 560100 CIN No: L31300KA1987PLC013543 Bengaluru, February 7, 2025 Press Release 3M India Limited held a meeting of its Board of Directors on February 7 , 202 5 and is pleased to announce the following highlights of results for the quarter and nine months ended December 31, 2024. - The Company registered topline decline on Q-o-Q (sequential) and registered growth on Q-o-Q (previous year) basis. - EBITDA declined on Q-o-Q (sequential) and on Q-o-Q (previous year) basis. - Transportation & Electronics segments register growth Q-o-Q (sequential). Financial Results: (Rs. Crores)- Q-o-Q (Sequential) (Note: all figures are rounded off to nearest digit) Particulars October - December 2024 July – September 2024 % Growth Sales & Other Operating Income 1,090 1,111 -2% Other Income 17 18 -6% EBITDA 171 201 -15% PBT 154 183 -16% PAT 114 134 -15% Financial Results: (Rs. Crores)- Q-o-Q (previous year) Particulars October – December 2024 October - December 2023 % Growth Sales & Other Operating Income 1,090 1,006 8% Other Income 17 17 0% EBITDA 171 195 -12% PBT 154 181 -15% PAT 114 135 -16% Commenting on the results for the quarter and nine months ended December 31, 2024, Mr. Ramesh Ramadurai, Managing Director of 3M India Limited, said “The Company delivered 8.4% sales growth in the current quarter versus prior year and declined nearly 2% on a sequential basis. Growth versus prior year was led by Health Care at 23.2%. Tra nsportation & Electronics grew 10.3% and Consumer segment grew 8.1% over prior year. Safety & Industrial segment growth declined by 1.4%. With end -use markets being broadly soft, the Company is investing selectively in commercial execution. The Company outperformed end-use markets in certain segments such as automotive, consumer and healthcare. We experienced cost headwinds both due to material cost and freight cost increases, which adversely affected margins.” ------------ About 3M in India, 3M India Limited, an Indian Subsidiary of US based 3M Company, was established in 198 7 and has its headquarters in Bengaluru with branch offices at Gurgaon and Pune. 3M leverages its global innovation expertise to develop homegrown solutions that addresses unique needs of diverse customers in India. 3M has invested in Innovation centers at Bengaluru and Gurgaon to boost local product development. Its manufacturing footprint is spread across Bengaluru, Pune, and Ahmedabad. From products that improve manufacturing efficiency and impact, improved healthcare delivery, to safety solutions that help increase road visibility, everyday kitchen aids and car care products, today, 3M science is improving the lives of millions of Indians. Learn how we’re working to improve lives and make what’s next at 3M.com/news or on Twitter at @3M or @3MNews. 3M