3M India Q1 Evaluation – Robust Efficiency In-Spite Of Inflationary Pressures, Rupee Depreciation: ICICI Securities

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BQ Prime’s particular analysis part collates high quality and in-depth fairness and economic system analysis studies from throughout India’s prime brokerages, asset managers and analysis businesses. These studies provide BQ Prime’s subscribers a possibility to develop their understanding of corporations, sectors and the economic system.

3M India Ltd. reported wholesome income development of 26.8% YoY, led by robust print throughout all segments. Nevertheless, three-year income compound annual development charge was tad underwhelming at simply 5.5%.

Amid enter materials inflation, supply-chain challenges and rupee depreciation, well timed value hikes and different cost-saving initiatives helped 3M India to develop its gross and Ebitda margins by 299 foundation factors and 591 bps YoY, respectively.

We notice all segments (excluding security and industrial) reported sequential income development as nicely. We stay optimistic on 3M India as a consequence of aggressive benefits like robust manufacturers, established distribution community and world relationships with giant producers, and entry to mother or father’s expertise pool.

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