3M India (523395) Q2 24/25 earnings summary

Executive summary

• Topline (sales and other operating income) grew 7% year-over-year and 6% sequentially for the quarter ended September 30, 2024.

• EBITDA declined 4% year-over-year and 11% sequentially, reflecting cost headwinds.

• Health Care segment led growth at 19% year-over-year, while Safety & Industrial and Consumer segments grew 8–9%.

• Transportation & Electronics segment saw a marginal decline of 1.4% year-over-year.

• Board approved unaudited financial results and noted the resignation of a director.

Financial highlights

• Total income for Q2 FY25: ₹105,695.59 lakhs, up from ₹103,951.61 lakhs in Q1 FY25 and ₹103,951.61 lakhs in Q2 FY24 (restated).

• Net profit after tax for Q2 FY25: ₹13,378.08 lakhs, down from ₹14,611.49 lakhs in Q2 FY24.

• Basic and diluted EPS for Q2 FY25: ₹118.76, compared to ₹129.71 in Q2 FY24.

• EBITDA for Q2 FY25: ₹20,100 lakhs, down from ₹21,000 lakhs in Q2 FY24.

• Dividend of ₹685 per share (final and special) paid during the current quarter.

Outlook and guidance

• Management expects continued focus on serving customers efficiently amid cost headwinds from freight and materials.

• Growth is expected to broadly track end-use markets, with outperformance in automotive, consumer, and healthcare.