3M India Guidance For 2021 - Focus On Healthy Revenue Growth, FCF, But Limited Capex: ICICI Securities
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ICICI Securities Report
3M USA (3M India Ltd.’s parent) announced its guidance for CY21 as -
- Sales growth of 5-8%,
- Earning per share growth of 5-11% indicating margin expansion and
- 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.
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