3M India - Strong Growth In End-User Industries Leading To Healthy EVA Creation: 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.We remain enthused about 3M India Ltd. post analysing its FY23 annual report. Key highlights:Most end-user industries – e.g. automotive, infrastructure and manufacturing – have reported revival, which augurs well for 3M India. Company has passed on additional costs with a lag and, with relatively stable exchange rates, it improved its Ebitda margin to 15.3% in FY23 from 11.7% in FY22. 3M India has continued to introduce multiple new products and invest in partnerships. We model these investments to be discounted cash flow-accretive. We remain positive on 3M India due to its competitive advantages such as: strong brands,established distribution network,global relationships with large manufacturers, andaccess to parent’s technology pool. Maintain 'Buy' with a revised DCF-based target price of Rs 35,200 (implied price/earning 56 times FY25E earnings per share)..Click on the attachment to read the full report:.Ujjivan Small Finance Bank - Strong Business Momentum To Continue: Geojit.DISCLAIMERThis 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.

3M India - Strong Growth In End-User Industries Leading To Healthy EVA Creation: ICICI Securities

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