3M INDIA Announces Quarterly Results (4QFY20); Net Profit Down 0.3%

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3M INDIA Announces Quarterly Results (4QFY20); Net Profit Down 0.3%
Mon, 1 Jun

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

3M INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m7,4287,4546,732-9.7%-9.4%
Other incomeRs m25144124-13.8%404.1%
TurnoverRs m7,4537,5986,856-9.8%-8.0%
ExpensesRs m6,4016,4755,968-7.8%-6.8%
Gross profitRs m1,027978763-22.0%-25.7%
DepreciationRs m1081471597.8%47.5%
InterestRs m6119-20.1%41.6%
Profit before taxRs m938964720-25.3%-23.3%
TaxRs m335245119-51.6%-64.6%
Profit after taxRs m603719601-16.4%-0.3%
Gross profit margin%13.813.111.3
Effective tax rate%35.725.416.5
Net profit margin%8.19.58.8
* 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 9.4% on a year-on-year (YoY) basis. The expenses were down by 6.8% YoY during the same period.
  • The company's operating profit declined by 25.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.3% in 4QFY20 as against 13.8% in 4QFY19.
  • Depreciation charges increased by 47.5% and finance costs increased by 41.6% YoY, respectively.
  • Other income increased by 404.1% YoY during the quarter.
  • Net profit for the quarter declined by 0.3% YoY. Net profit margins during the quarter increased from 8.1% in 4QFY19 to 8.8% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.8% QoQ during the same period.
  • The company's operating profit declined by 22.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.3% in 4QFY20 as against 13.1% in 3QFY19.
  • Net profit for the quarter declined by 16.4% QoQ, while net profit margins declined from 9.5% in 3QFY19 to 8.8% in 4QFY20.

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

Today at 5pm: Get the details of India's #1 defence stock

3M INDIA Share Price Performance

Over the last one year,3M INDIA share price has moved down from Rs 22,632.9 to Rs 18,095.6, registering a Loss of Rs 4,537.3 or around 20.0%.

Overall, the S&P BSE SENSEX is down 15.7% over the year.

Current Valuations

At the current price of Rs 18,095.6, the price to earnings (P/E) ratio of 3M INDIA stands at 63.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 14.2 times.

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