3M INDIA Announces Quarterly Results (3QFY21); Net Profit Down 17.4%

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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 ChangeYoY Change
Net SalesRs m7,4546,9007,4147.5%-0.5%
Other incomeRs m1445857-1.9%-60.6%
TurnoverRs m7,5986,9587,4717.4%-1.7%
ExpensesRs m6,4755,7656,49812.7%0.3%
Gross profitRs m9781,135917-19.2%-6.3%
DepreciationRs m147167157-5.5%6.7%
InterestRs m115988.0%-23.2%
Profit before taxRs m9641,021807-21.0%-16.3%
TaxRs m245271214-21.2%-12.8%
Profit after taxRs m719750594-20.9%-17.4%
Gross profit margin%13.116.412.4
Effective tax rate%25.426.526.4
Net profit margin%9.510.87.9
* 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 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.

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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, 2020

For 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, 2020

For 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.

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Jul 18, 2019 | Updated on Jul 18, 2019

Here'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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