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- 3M INDIA Announces Quarterly Results (3QFY21); Net Profit Down 17.4%
3M INDIA Announces Quarterly Results (3QFY21); Net Profit Down 17.4%
Thu, 11 Feb
3M INDIA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:
3M INDIA Quarterly Financials
| No. of Mths Qtr. Ending | 3 Dec-19* | 3 Sep-20* | 3 Dec-20* | QoQ Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 7,454 | 6,900 | 7,414 | 7.5% | -0.5% |
| Other income | Rs m | 144 | 58 | 57 | -1.9% | -60.6% |
| Turnover | Rs m | 7,598 | 6,958 | 7,471 | 7.4% | -1.7% |
| Expenses | Rs m | 6,475 | 5,765 | 6,498 | 12.7% | 0.3% |
| Gross profit | Rs m | 978 | 1,135 | 917 | -19.2% | -6.3% |
| Depreciation | Rs m | 147 | 167 | 157 | -5.5% | 6.7% |
| Interest | Rs m | 11 | 5 | 9 | 88.0% | -23.2% |
| Profit before tax | Rs m | 964 | 1,021 | 807 | -21.0% | -16.3% |
| Tax | Rs m | 245 | 271 | 214 | -21.2% | -12.8% |
| Profit after tax | Rs m | 719 | 750 | 594 | -20.9% | -17.4% |
| Gross profit margin | % | 13.1 | 16.4 | 12.4 | ||
| Effective tax rate | % | 25.4 | 26.5 | 26.4 | ||
| Net profit margin | % | 9.5 | 10.8 | 7.9 |
Interim results exclude extraordinary / exceptional items
Year-on-Year Performance:
- The company's operating income during the quarter fell 0.5% on a year-on-year (YoY) basis. The expenses were up by 0.3% YoY during the same period.
- The company's operating profit declined by 6.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.4% in 3QFY21 as against 13.1% in 3QFY20.
- Depreciation charges increased by 6.7% and finance costs declined by 23.2% YoY, respectively.
- Other income declined by 60.6% YoY during the quarter.
- Net profit for the quarter declined by 17.4% YoY. Net profit margins during the quarter declined from 9.5% in 3QFY20 to 7.9% in 3QFY21.
Quarter-on-Quarter Performance:
- The company's operating income during the quarter grew 7.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.7% QoQ during the same period.
- The company's operating profit declined by 19.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.4% in 3QFY21 as against 16.4% in 2QFY20.
- Net profit for the quarter declined by 20.9% QoQ, while net profit margins declined from 10.8% in 2QFY20 to 7.9% in 3QFY21.
To see how 3M INDIA has performed over the last eight quarters,please visit here.
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3M INDIA Share Price Performance
Over the last one year, 3M INDIA share price has moved down from Rs 23,028.2 to Rs 20,971.5, registering a Loss of Rs 2,056.7 or around 8.9%.
Overall, the S&P BSE SENSEX is up 25.8% over the year.
Current Valuations
At the current price of Rs 20,971.5, the price to earnings (P/E) ratio of 3M INDIA stands at 155.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 16.5 times.
Related Views on News
3M INDIA Announces Quarterly Results (1QFY21); Net Profit Down 147.2% (Quarterly Result Update)
Sep 14, 2020 | Updated on Sep 14, 2020For the quarter ended June 2020, 3M INDIA has posted a net profit of Rs 425 m (down 147.2% YoY). Sales on the other hand came in at Rs 3 bn (down 57.0% YoY). Read on for a complete analysis of 3M INDIA's quarterly results.
3M INDIA Announces Quarterly Results (4QFY20); Net Profit Down 0.3% (Quarterly Result Update)
Jun 1, 2020 | Updated on Jun 1, 2020For the quarter ended March 2020, 3M INDIA has posted a net profit of Rs 601 m (down 0.3% YoY). Sales on the other hand came in at Rs 7 bn (down 9.4% YoY). Read on for a complete analysis of 3M INDIA's quarterly results.
3M INDIA 2018-19 Annual Report Analysis (Annual Result Update)
Jul 18, 2019 | Updated on Jul 18, 2019Here's an analysis of the annual report of 3M INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of 3M INDIA. Also includes updates on the valuation of 3M INDIA.
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