BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
3M India Ltd.’s FY22 annual report highlights the following:
Company is expanding its local manufacturing capacity for respirators, masks, hand sanitisers, etc; it will also supply industry consumables to mobile phone manufacturing companies availing the production linked incentive schemes.
3M India is steadily investing in increasing its offline and online reach for Scotch Brite.
It introduced four products in automotive and consumer segments. We expect launch of additional products in tandem with normalisation of the economy.
Royalty as a percentage of sales reduced from 5.3% in FY21 to 5.2% in FY22.
We remain positive on 3M India due to its competitive advantages such as: strong brands, established distribution network, and global relationships with large manufacturers, and access to parent’s technology pool.
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