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Last Updated: April 2, 2026, 2:30 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523395 | NSE: 3MINDIA

3M India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹25,342.58Overvalued by 13.79%vs CMP ₹29,395.00

P/E (54.2) × ROE (30.5%) × BV (₹1,906.00) × DY (0.54%)

₹12,188.27Overvalued by 58.54%vs CMP ₹29,395.00
MoS: -141.2% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹33,037.2923%Under (+12.4%)
Graham NumberEarnings₹4,824.2417%Over (-83.6%)
Earnings PowerEarnings₹3,260.9411%Over (-88.9%)
DCFCash Flow₹13,285.3011%Over (-54.8%)
Net Asset ValueAssets₹1,905.077%Over (-93.5%)
EV/EBITDAEnterprise₹8,630.039%Over (-70.6%)
Earnings YieldEarnings₹5,426.907%Over (-81.5%)
ROCE CapitalReturns₹3,878.909%Over (-86.8%)
Revenue MultipleRevenue₹5,575.456%Over (-81%)
Consensus (9 models)₹12,188.27100%Overvalued
Key Drivers: EPS CAGR 30.4% lifts DCF — verify sustainability. | Wide model spread (₹1,905–₹33,037) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 30.4%

*Investments are subject to market risks

Investment Snapshot

74
3M India Ltd scores 74/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 40.5% ExcellentROE 30.5% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 75.0% Stable
Earnings Quality75/100 · Strong
OPM expanding (11% → 17%) ImprovingWorking capital: 22 days (improving) Efficient
Quarterly Momentum68/100 · Strong
Revenue (4Q): 3% YoY FlatProfit (4Q): +23% YoY PositiveOPM: 20.0% (up 4.0% YoY) Margin expansion
Industry Rank65/100 · Strong
P/E 54.2 vs industry 27.0 Premium to peersROCE 40.5% vs industry 22.0% Above peersROE 30.5% vs industry 17.2% Above peers3Y sales CAGR: 17% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:30 am

Market Cap 33,128 Cr.
Current Price 29,395
Intrinsic Value₹12,188.27
High / Low 38,300/26,800
Stock P/E54.2
Book Value 1,906
Dividend Yield0.54 %
ROCE40.5 %
ROE30.5 %
Face Value 10.0
PEG Ratio1.79

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for 3M India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
3M India Ltd 33,128 Cr. 29,395 38,300/26,80054.2 1,9060.54 %40.5 %30.5 % 10.0
DCM Shriram Ltd 17,963 Cr. 1,152 1,502/94525.7 4630.78 %11.4 %8.66 % 2.00
NESCO Ltd 7,350 Cr. 1,043 1,639/87518.0 3970.62 %21.1 %15.8 % 2.00
Balmer Lawrie & Company Ltd 2,710 Cr. 158 238/14810.1 1145.36 %14.8 %14.0 % 10.0
Industry Average15,287.75 Cr7,937.0027.00720.001.83%21.95%17.24%6.00

All Competitor Stocks of 3M India Ltd

Quarterly Result

MetricJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales 7448408269269449779931,0461,0501,0401,0061,0951,047
Expenses 696748731768827854822852877847827880841
Operating Profit 489295158116123171194173192179214205
OPM % 6%11%12%17%12%13%17%19%16%18%18%20%20%
Other Income 8889113512101517173022
Interest 1102101611113
Depreciation 15131413141515141413131314
Profit before tax 418789151113143167184173196181231211
Tax % 26%26%25%27%26%26%25%26%25%25%25%25%26%
Net Profit 30646711184106125136129146135173157
EPS in Rs 26.7257.0159.2498.4674.8094.30110.79120.48114.70129.70120.05153.44139.50

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: October 26, 2024, 2:43 pm

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales 2,7103,0172,9872,6053,3363,9594,1894,186
Expenses 2,2112,4812,5372,3452,9473,3553,4303,396
Operating Profit 499536450259389604759791
OPM % 18%18%15%10%12%15%18%19%
Other Income 5560462537687886
Interest 21424735
Depreciation 4444596255585353
Profit before tax 508551433220368607781819
Tax % 34%33%26%26%26%26%25%
Net Profit 333366322162272451583611
EPS in Rs 295.91325.06285.99144.14241.43400.37517.90542.69
Dividend Payout % 0%0%0%0%0%237%132%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)9.91%-12.02%-49.69%67.90%65.81%29.27%
Change in YoY Net Profit Growth (%)0.00%-21.93%-37.67%117.59%-2.09%-36.54%

3M India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2018-2019 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:%
5 Years:7%
3 Years:17%
TTM:3%
Compounded Profit Growth
10 Years:%
5 Years:10%
3 Years:53%
TTM:23%
Stock Price CAGR
10 Years:11%
5 Years:9%
3 Years:9%
1 Year:-13%
Return on Equity
10 Years:%
5 Years:19%
3 Years:22%
Last Year:30%

Last Updated: September 4, 2025, 9:35 pm

Balance Sheet

Last Updated: June 16, 2025, 12:36 pm

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital 11111111111111
Reserves 1,0551,4221,7401,8992,1721,6662,136
Borrowings 10144223252718
Other Liabilities 1,2346725787187981,0101,083
Total Liabilities 2,3112,1182,3712,6523,0062,7143,248
Fixed Assets 303286306266307338332
CWIP 612724232512
Investments 0000000
Other Assets 2,0011,8202,0582,3622,6762,3522,903
Total Assets 2,3112,1182,3712,6523,0062,7143,248

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity + 36253245321327465643
Cash from Investing Activity + 25-5533-14-41-15-269
Cash from Financing Activity + -23-25-25-21-980-128
Net Cash Flow 59-297223282265-530246
Free Cash Flow 19212224282259406612
CFO/OP 50%88%84%156%110%104%111%

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow489.00522.00408.00236.00364.00577.00741.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days 77716568585961
Inventory Days 969492104859177
Days Payable 93816611494113120
Cash Conversion Cycle 79849258493619
Working Capital Days -26546354383222
ROCE %44%27%12%18%31%41%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs 3.72%3.64%3.56%3.56%3.64%3.77%4.07%4.01%3.78%3.84%3.43%3.50%
DIIs 7.93%8.34%8.45%8.52%8.44%8.27%8.13%8.16%8.08%8.10%8.12%8.39%
Public 13.35%13.02%12.98%12.92%12.92%12.95%12.80%12.84%13.13%13.05%13.44%13.11%
No. of Shareholders 29,88428,05428,07727,61029,19829,24330,04532,14734,42534,58834,53930,577

Shareholding Pattern Chart

No. of Shareholders

3M India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Canara Robeco Large and Mid Cap Fund 70,109 0.98 241.170,5732026-01-25 01:39:51-0.66%
Nippon India Focused Fund 64,665 2.62 222.3864,6572026-02-23 05:10:060.01%
Nippon India Growth Mid Cap Fund 60,000 0.49 206.34N/AN/AN/A
Mirae Asset Midcap Fund 58,489 1.14 201.1458,3792026-02-23 05:10:060.19%
Axis Midcap Fund 56,624 0.63 194.7354,9552025-12-15 01:41:133.04%
Nippon India Multi Cap Fund 56,067 0.4 192.8145,7042025-08-14 11:47:3022.67%
Bandhan Large & Mid Cap Fund 54,560 1.34 187.6352,5602026-02-23 05:10:063.81%
UTI Flexi Cap Fund 54,500 0.8 187.4355,1822026-02-23 05:10:06-1.24%
Nippon India ELSS Tax Saver Fund 48,600 1.12 167.1448,6002025-04-22 17:25:440%
Nippon India Innovation Fund 28,722 3.66 98.78N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 517.90400.37241.43144.14285.99
Diluted EPS (Rs.) 517.90400.37241.43144.14285.99
Cash EPS (Rs.) 564.89451.57290.36199.04338.66
Book Value[Excl.RevalReserv]/Share (Rs.) 1905.801489.091938.351695.791554.24
Book Value[Incl.RevalReserv]/Share (Rs.) 1905.801489.091938.351695.791554.24
Revenue From Operations / Share (Rs.) 3718.893514.722961.222312.302651.15
PBDIT / Share (Rs.) 743.33596.88378.47252.30439.91
PBIT / Share (Rs.) 696.34545.67329.55197.40387.24
PBT / Share (Rs.) 693.48539.22326.24195.22383.99
Net Profit / Share (Rs.) 517.90400.37241.43144.14285.99
NP After MI And SOA / Share (Rs.) 517.90400.37241.43144.14285.99
PBDIT Margin (%) 19.9816.9812.7810.9116.59
PBIT Margin (%) 18.7215.5211.128.5314.60
PBT Margin (%) 18.6415.3411.018.4414.48
Net Profit Margin (%) 13.9211.398.156.2310.78
NP After MI And SOA Margin (%) 13.9211.398.156.2310.78
Return on Networth / Equity (%) 27.1726.8812.458.4918.40
Return on Capital Employeed (%) 35.8335.4416.5311.3224.23
Return On Assets (%) 17.9616.619.046.1213.58
Asset Turnover Ratio (%) 1.411.261.040.911.16
Current Ratio (X) 2.522.173.203.103.27
Quick Ratio (X) 2.021.552.562.442.50
Inventory Turnover Ratio (X) 2.802.962.862.162.50
Dividend Payout Ratio (NP) (%) 19.30212.300.000.000.00
Dividend Payout Ratio (CP) (%) 17.70188.230.000.000.00
Earning Retention Ratio (%) 80.70-112.300.000.000.00
Cash Earning Retention Ratio (%) 82.30-88.230.000.000.00
Interest Coverage Ratio (X) 260.3392.48114.60115.82135.32
Interest Coverage Ratio (Post Tax) (X) 182.3863.0474.1067.1788.97
Enterprise Value (Cr.) 33848.6425120.8420825.7433001.6120527.25
EV / Net Operating Revenue (X) 8.086.346.2412.676.87
EV / EBITDA (X) 40.4237.3648.85116.1141.42
MarketCap / Net Operating Revenue (X) 8.406.556.6413.087.13
Retention Ratios (%) 80.69-112.300.000.000.00
Price / BV (X) 16.4015.4510.1517.8312.17
Price / Net Operating Revenue (X) 8.406.556.6413.087.13
EarningsYield 0.010.010.010.000.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

3M India Ltd. is a Public Limited Listed company incorporated on 04/07/1987 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L31300KA1987PLC013543 and registration number is 013543. Currently Company is involved in the business activities of Other manufacturing. Company's Total Operating Revenue is Rs. 4445.56 Cr. and Equity Capital is Rs. 11.27 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
DiversifiedPlot No 48-51, Electronic City, Bengaluru Karnataka 560100Contact not found
Management
NamePosition Held
Mr. Ramesh RamaduraiManaging Director
Ms. Radhika RajanChairperson & Independent Director
Mr. N V SivakumarIndependent Director
Ms. Kong Sau Wai ElizabethNon Executive Director
Ms. Jung Hyun KimNon Executive Director
Mr. Jayanand V KaginalkarWhole Time Director

FAQ

What is the intrinsic value of 3M India Ltd and is it undervalued?

As of 16 April 2026, 3M India Ltd's intrinsic value is ₹12188.27, which is 58.54% lower than the current market price of ₹29,395.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (30.5 %), book value (₹1,906), dividend yield (0.54 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of 3M India Ltd?

3M India Ltd is trading at ₹29,395.00 as of 16 April 2026, with a FY2026-2027 high of ₹38,300 and low of ₹26,800. The stock is currently near its 52-week low. Market cap stands at ₹33,128 Cr..

How does 3M India Ltd's P/E ratio compare to its industry?

3M India Ltd has a P/E ratio of 54.2, which is above the industry average of 27.00. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is 3M India Ltd financially healthy?

Key indicators for 3M India Ltd: ROCE of 40.5 % indicates efficient capital utilization; ROE of 30.5 % shows strong shareholder returns. Dividend yield is 0.54 %.

Is 3M India Ltd profitable and how is the profit trend?

3M India Ltd reported a net profit of ₹583 Cr in Mar 2024 on revenue of ₹4,189 Cr. Compared to ₹162 Cr in Mar 2021, the net profit shows an improving trend.

Does 3M India Ltd pay dividends?

3M India Ltd has a dividend yield of 0.54 % at the current price of ₹29,395.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in 3M India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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