AgenciesICICI Securities has buy call on 3M India with a target price of Rs 26500. The current market price of 3M India Ltd. is Rs 22848.1. Time period given by analyst is one year when 3M India Ltd. price can reach defined target.
3M India Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 25740.68 Crore) operating in Diversified sector.
3M India Ltd. key Products/Revenue Segments include Sale of Products, Sale of services, Scrap for the year ending 31-Mar-2022.
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 955.05 Crore, up 2.17 % from last quarter Total Income of Rs 934.81 Crore and up 27.02 % from last year same quarter Total Income of Rs 751.86 Crore. Company reported net profit after tax of Rs 84.26 Crore in latest quarter.
Investment Rationale
The brokerage models 3M India to report revenue and PAT CAGRs of 16.6% and 39.4% respectively over FY22-FY24E with steady improvement in RoE. Maintain BUY with a DCF-based target price of Rs26,500. Key risks: prolonged weakness in the economy, and failure of new products
Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.21 per cent, DIIs 5.3 per cent.
3M India Ltd., incorporated in the year 1987, is a Large Cap company (having a market cap of Rs 25740.68 Crore) operating in Diversified sector.
3M India Ltd. key Products/Revenue Segments include Sale of Products, Sale of services, Scrap for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 955.05 Crore, up 2.17 % from last quarter Total Income of Rs 934.81 Crore and up 27.02 % from last year same quarter Total Income of Rs 751.86 Crore. Company reported net profit after tax of Rs 84.26 Crore in latest quarter.
Investment Rationale
The brokerage models 3M India to report revenue and PAT CAGRs of 16.6% and 39.4% respectively over FY22-FY24E with steady improvement in RoE. Maintain BUY with a DCF-based target price of Rs26,500. Key risks: prolonged weakness in the economy, and failure of new products
Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.21 per cent, DIIs 5.3 per cent.
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