3M India Guidance For 2021 - Focus On Healthy Revenue Growth, FCF, But Limited Capex: ICICI Securities
Signage stands outside 3M Co. headquarters in St. Paul, Minnesota, U.S. (Photographer Mike Bradley/Bloomberg)

3M India Guidance For 2021 - Focus On Healthy Revenue Growth, FCF, But Limited Capex: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

3M USA (3M India Ltd.’s parent) announced its guidance for CY21 as -

  1. Sales growth of 5-8%,
  2. Earning per share growth of 5-11% indicating margin expansion and
  3. Free cash flow conversion of 95-105%.

It also plans to invest in markets with strong and sustainable demand in segments such as personal safety, healthcare, auto original equipment manufacturer, semiconductor, data center and home improvement.

Likely implications for 3M India - As the company offers healthy growth in most of the above mentioned areas, we believe 3M USA may invest in research and development, technology and new products in India.

Click on the attachment to read the full report:

ICICI Securities 3M India Company Update.pdf

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