3M India - Recovery Visible In Most Segments In Q3: ICICI Securities 
Signage stands outside the 3M Co. Cottage Grove Center in Cottage Grove (Photographer Daniel Acker/Bloomberg)

3M India - Recovery Visible In Most Segments In Q3: 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

Key takeaways from 3M India Ltd.’s Q3 FY21 earnings -

1. There is a recovery in consumer and transportation and electronics segment with re-opening up of the economy and automotive sector,

2. healthcare segment continues to be impacted by lower off-take by hospitals and

3. though the gross margin was flat, cost-saving initiatives resulted in Ebitda margin expansion of 370 basis points.

We model the business to maintain recovery momentum in FY22 due to re-opening of the economy especially auto, oil and gas and healthcare sectors and favourable base.

Increase in manufacturing activities in India due to performance-linked incentive will be medium-term positive for 3M India.

Click on the attachment to read the full report:

ICICI Securities 3M India Q3FY21 Results Update.pdf


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