Announcement
Announcement under Regulation 30 (LODR)-Meeting Updates 26 Aug - 3M India held its 39th AGM, recommended Rs 506 dividend, and reported FY26 revenue of Rs 5,090 crore.
Source: Bse
3M India Limited (3MINDIA)
Large CapDiversified stocks · Large cap · NSE
3M India Limited, incorporated in 1987 and publicly listed since 1991, operates 3 manufacturing facilities and 1 R&D center. It serves customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. FY25-26 sales were INR 5,090 crores with ~1,273 employees.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals14 Oct 2026 · screener
Latest result14 Aug, 01:00 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Diversified P/E 16.4 (n=25)
Technical timing lens
Trend score and candlestick chart
18Strong Bearfull bear SMA stack · SMA20 -4.2% / mo · MACD − · near 52W low
Stock trend: 18
Sector RS: —
Diversified FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
3MINDIAD candles · FIT view-7.7%Latest close ₹30115.00 on 2026-10-19
Bar
-0.9%
RSI
35
MACD hist
-49.66
52W pos
15%
2026-10-19O ₹30400.00H ₹30405.00L ₹30055.00C ₹30115.00Vol 724 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
3MINDIANifty 500
- 3MINDIA
- -14.5%
- Nifty 500
- -5.6%
- Vs Nifty 500
- -9.0 pp
Chart stats
19 Oct 2026- From 52W high
- -20.8%
- 52W range position
- 15%
- ATR (14)
- 2.6%
- Volume vs 20D
- 0.15x
- Avg traded value
- ₹14.4 Cr
- 20D price channel
- ₹29,790 - ₹35,095
₹38,030
₹28,730 - ₹38,030
₹787.7
Latest completed session
20-session average
28.6% annualized volatility
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good57
Revenue +19.0% · PAT +30.9% YoY
Technical
Strong Bear18
Price trend and sector-relative-strength timing.
Valuation
Legacy model-138.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence84
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 57/100Rev +19% YoY · PAT +31% YoY · operating leverage · margin compression
Filed 14 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,423 Cr | +19.0% | +1.7% |
| EBITDA | ₹238 Cr | -1.7% | -7.4% |
| Operating margin | 17.0% | -300 bps | -100 bps |
| PAT | ₹233 Cr | +30.9% | +8.4% |
| PAT margin | 16.4% | +149 bps | +100 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 78.30
- P/B
- 19.53
- EV/EBITDA
- 33.17
- Market Cap
- 34522.00Cr
Profitability
- ROE
- 30.00%
- ROCE
- 50.00%
- ROA
- 18.43%
- Dividend Y
- 0.52%
Growth (CAGR)
- Revenue 5Y
- 16.00%
- EPS 5Y
- 30.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 9.00%
Balance Sheet
- Debt/Equity
- 0.10
- Interest Coverage
- 21.82×
- Altman Z
- 9.71
- Book Value
- 1570.00
Cash Flow
- FCF Yield
- 1.46%
- FCF Positive Y
- 11/5
- OCF
- 514.00 Cr
- EPS TTM
- 512.83
Shareholding
- Promoter Hold
- 75.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 20%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 5,090+14.5% vs prev
Net Profit
₹ CrLatest: 522+9.7% vs prev
Return on Equity
%Latest: 4,745+9.7% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 35.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- Recent death cross (SMA50 crossed below SMA200).
- SMA20 falling (~4.4% over last month) — short-term momentum negative.
- RSI(14) at 35 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
56
RS percentile
Stage 1 Base / Transition
1M return
-11.7%
3M return
-14.5%
6M return
-7.5%
1Y return
+1.9%
RS 1D
-1
RS 20D
-11
Sector rank
#16
Industry rank
-
Stage evidence
- Price is 8.6% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed -1.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 107.74+0.08%
RS vs Nifty 500108
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth14/25
Quality20/20
Balance Sheet11/15
Cash Flow5/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 20/20 to the score.
- Balance sheet contributes 11/15 to the score.
Main drags
- Fair-value margin of safety is negative at -138.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
78.3
PB
19.5
EV/EBITDA
33.2
ROE
30.0%
ROCE
50.0%
FCF Yield
1.5%
Debt/Equity
0.1
MoS
-138.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-138.7%
Previous: -138.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
56
56
56
56
55
55
55
55
55
55
55
55
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹4,256.26
-607.5% MoS
Growth-justified P/E
24.6
Growth-justified Value
₹12,615.62
-138.7% MoS
PEG
3.62
Comparable companies
Peers
Business-comparable peers in Diversified — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
GODREJIND
Large
Godrej Industries Limited
Diversified
match 21
19
28.2
9.3%
-19%
OVERVALUED
DCMSHRIRAM
Large
DCM Shriram Limited
Diversified
match 18
45
11.5
11.5%
+11%
WATCHLIST
IBULLSLTD
Small
Indiabulls Limited
Diversified
match 9
67
14.2
23.1%
+25%
UNDERVALUED
JAICORPLTD
Small
Jai Corp Limited
Diversified
match 8
49
16.4
12.0%
+24%
FAIR VALUE
GILLANDERS
Small
Gillanders Arbuthnot & Company Limited
Diversified
match 8
52
14.4
3.0%
+49%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T15:54:45.449Z
Management commentary snapshot
3M India reports FY25-26 sales of INR 5,090 cr, up 14.5% YoY, with PBT before exceptional items at 960 cr (18.7% of sales, +1.6 pt YoY). PAT declined slightly by 0.4 pt YoY to 10.2% of sales, but PAT excluding APA/VSV improved by 0.2 pt YoY to 12.9%.
The company delivered strong top-line growth and improved PBT margins in FY25-26, driven by all four business groups. While reported PAT margin saw a slight dip, adjusted PAT margin improved. Strategic focus on commercial excellence, local R&D, and supply chain strengthening positions the company for continued growth, though specific future targets are not disclosed.
Current business mix
FY 2025-26 Sales by Business Group
Latest issuer-disclosed distribution across 4 reported categories.
Safety & Industrial36.0%
Transportation & Electronics32.0%
Health Care20.0%
Consumer11.0%
Growth engines
Commercial Excellence
Focus on stronger pipeline, commercial practices, winning specifications at key customers, and best-in-class customer experience and service.
Local R&D Capability
Developing 'For-India' new products for priority markets and leveraging global New Product Introductions (NPIs) for India.
Local Supply Chain
Strengthening outsourcing and contract manufacturing, alongside capacity expansion and new manufacturing lines for selected product portfolios.
Talent & Organization
Building a culture of bold aspiration, speed, and performance, and enhancing capability and depth across the company.
Capacity and execution
Ranjangaon Plant Expansion
The Ranjangaon plant has an identified expansion area, indicating future growth potential for materials like pipe coating, bottling, and kitting.
New Manufacturing Lines
Strategy includes capacity expansion and new manufacturing lines for selected product portfolios to strengthen local supply chain.
Tailwinds
Customer Recognition
Received 'overall performance award' from Maruti Suzuki and 'Zero PPM award' from Toyota Kirloskar Motors for 6th consecutive year.
Innovation Partner
Recognized by BSES Delhi as 'Innovation Partner of the Year' and by Tata Motors with 'Atmanirbhar Excellence Award' for localizing 'absorber'.
Sustainability & CSR
Awarded by Pune Zilla Parishad for CSR in Environmental Protection and Conservation, and recognized among BW Businessworld's Top 40 Most Sustainable Companies.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company reports annual financial results, making year-over-year comparison most relevant for assessing overall performance and growth trends.
Sector KPIs management disclosed
Sales
FY 2025-26 Sales: 5,090 cr, +14.5% vs. Prior Year.
PBT Before Exceptional Items
FY 2025-26 PBT Before Exceptional Items: 960 cr | 18.7% of Sales | +1.6 pt YoY.
PBT After Exceptional Items
FY 2025-26 PBT After Exceptional Items: 894 cr | 17.4% of Sales | +0.3 pt YoY.
PAT
FY 2025-26 PAT: 522 cr | 10.2% of Sales | -0.4 pt YoY. PAT (excl APA/VSV): 662 cr | 12.9% of Sales | +0.2 pt YoY.
Management forward view
Continued 3M Company Support
Management highlights continued support from 3M Company to all aspects of their business operations.
Team Commitment
Management appreciates the 3M India team's efforts and commitment towards the delivery of results.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Sales Growth | +14.5% YoY (FY25-26) | Sustained double-digit growth across business groups, indicating effective commercial excellence initiatives. |
| PBT Margin (excl. exceptional items) | 18.7% of Sales (+1.6 pt YoY) | Further margin expansion, reflecting operational efficiencies and favorable product mix. |
| PAT Margin (excl. APA/VSV) | 12.9% of Sales (+0.2 pt YoY) | Continued improvement in adjusted PAT margin, indicating better profitability from core operations. |
| Local R&D and Supply Chain Execution | Strategic focus areas | Specific updates on new product launches from local R&D and commissioning of new manufacturing lines or expanded capacity. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
84Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 97th percentile of the scored universe and 97th percentile within Diversified. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
24 docs text-extracted · 4 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
97th percentile
overall median 67 · Diversified: 97th pctile, median 61 · Large: 90th pctile, median 73
Evidence depth
Financial-only
24 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
72
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 75%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.5%.
- ▸11 years of positive FCF.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching 3M India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Aug - 39Th AGM intimation and Evoting information
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 23 May
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.