3M INDIA Announces Quarterly Results (1QFY21); Net Profit Down 147.2%

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3M INDIA Announces Quarterly Results (1QFY21); Net Profit Down 147.2%
Mon, 14 Sep

3M INDIA has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

3M INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m8,0456,7323,462-48.6%-57.0%
Other incomeRs m6312464-48.5%1.6%
TurnoverRs m8,1086,8563,526-48.6%-56.5%
ExpensesRs m6,5655,9683,946-33.9%-39.9%
Gross profitRs m1,480763-484-163.4%-132.7%
DepreciationRs m149159150-5.5%0.8%
InterestRs m898-7.6%-1.9%
Profit before taxRs m1,385720-578-180.4%-141.7%
TaxRs m484119-153-229.2%-131.6%
Profit after taxRs m901601-425-170.7%-147.2%
Gross profit margin%18.411.3-14.0
Effective tax rate%34.916.526.5
Net profit margin%11.18.8-12.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 57.0% on a year-on-year (YoY) basis. The expenses were down by 39.9% YoY during the same period.
  • The company's operating profit declined by 132.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.0% in 1QFY21 as against 18.4% in 1QFY20.
  • Depreciation charges increased by 0.8% and finance costs declined by 1.9% YoY, respectively.
  • Other income increased by 1.6% YoY during the quarter.
  • Net profit for the quarter declined by 147.2% YoY. Net profit margins during the quarter declined from 11.1% in 1QFY20 to -12.1% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 48.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 33.9% QoQ during the same period.
  • The company's operating profit declined by 163.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.0% in 1QFY21 as against 11.3% in 4QFY20.
  • Net profit for the quarter declined by 170.7% QoQ, while net profit margins declined from 8.8% in 4QFY20 to -12.1% in 1QFY21.

To see how 3M INDIA has performed over the last eight quarters,please visit here.

Last Day: Discover India's #1 defence stock now

3M INDIA Share Price Performance

Over the last one year,3M INDIA share price has moved down from Rs 20,395.5 to Rs 18,640.0, registering a Loss of Rs 1,755.5 or around 8.6%.

Overall, the S&P BSE SENSEX is up 5.0% over the year.

Current Valuations

At the current price of Rs 18,640.0, the price to earnings (P/E) ratio of 3M INDIA stands at 110.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 14.7 times.

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