Buy 3M India, target price Rs 26500: ICICI Securities

ICICI Securities has buy call on 3M India Ltd. with a target price of Rs 26500. The current market price of 3M India Ltd. is Rs 23150.35 Time period given by analyst is 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 26013.36 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 has 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 has reported net profit after tax of Rs 84.26 Crore in latest quarter.

The company’s top management includes Mr.Bharat D Shah, Mr.Ramesh Ramadurai, Ms.Radhika Rajan, Mr.Biren Gabhawala, Mr.Amit Laroya, Ms.Vidya Sarathy, Mr.James Ernest Falteisek, Ms.Yun Jin. Company has BSR & Co. LLP as its auditors. As on 30-06-2022, the company has a total of 1 Crore shares outstanding.



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.