3M India Q1 - Strong Performance In-Spite Of Inflationary Pressures, Rupee Depreciation: ICICI Securities
3M India Q1 Review - Strong Performance In-Spite Of Inflationary Pressures, Rupee Depreciation: ICICI Securities
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. reported healthy revenue growth of 26.8% YoY, led by strong print across all segments. However, three-year revenue compound annual growth rate was tad underwhelming at just 5.5%.
Amid input material inflation, supply-chain challenges and rupee depreciation, timely price hikes and other cost-saving initiatives helped 3M India to expand its gross and Ebitda margins by 299 basis points and 591 bps YoY, respectively.
We note all segments (excluding safety and industrial) reported sequential revenue growth as well. We remain positive on 3M India due to competitive advantages like strong brands, established distribution network and global relationships with large manufacturers, and access to parent’s technology pool.
Click on the attachment to read the full report:
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.