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ICICI Securities: 3M India - Strong QoQ Recovery In All Segments 

ICICI Securities: 3M India - Strong QoQ Recovery In All Segments

3M Co. headquarters stands in St. Paul, Minnesota, U.S. (Photographer: Mike Bradley/Bloomberg)
3M Co. headquarters stands in St. Paul, Minnesota, U.S. (Photographer: Mike Bradley/Bloomberg)

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 Q2 FY21 earnings -

1. Strong QoQ recovery with gradual re-opening of the economy. QoQ revenue growth was 99%,

2. the company’s cash collection has improved in H1 FY21 with reduction in net working capital days and negligible capex and

3. though higher input prices impacted gross margin by 300 basis points, cost-saving initiatives helped arrest Ebitda margin decline to just 50 basis points.

Click on the attachment to read the full report:

ICICI Securities 3M India Q2FY21 Results Update.pdf

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