3M India Ltd., included within the 12 months 1987, is a Giant Cap firm (having a market cap of Rs 28515.67 Crore) working in Diversified sector.
For the quarter ended 31-03-2021, the corporate reported a Consolidated Whole Earnings of Rs 834.38 Crore, up 11.68 % from final quarter Whole Earnings of Rs 747.13 Crore and up 21.70 % from final 12 months similar quarter Whole Earnings of Rs 685.59 Crore. Firm reported internet revenue after tax of Rs 70.47 Crore in newest quarter.
The brokerage earnings estimates are unchanged; modelling income / EBITDA / PAT CAGR of 13 / 13 / 16 (%) over FY21-23E. It maintains BUY with DCF- based mostly goal value of Rs550 (Rs500 earlier). On the goal value, the inventory will commerce at 45x P/E a number of Mar-23E. Key draw back danger is higher-than-expected inflation in copra costs and demand deceleration.
Promoters held 75 per cent stake within the firm as of March 31, 2021, whereas FIIs held 6.4 per cent, DIIs 5 per cent and public and others 13.9 per cent.
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