3M India Ltd (3MINDIA) — share price & stock analysis

Market cap

₹37,681 Cr

P/E

61.6×

ROE

30.5%

vs own 10-yr valuation

25th pctile

Book value / share

₹1,906

EPS (TTM)

₹543

10-yr median P/E

67.6×

Revenue (FY25)

₹4,446 Cr

Profit after tax (FY25)

₹476 Cr

Weinstein stage

Stage 1 (3 weeks)

Data as of

1 July 2026

4 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 38% — a high-quality engine; effectively no debt; margins near the top of their band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

The price is tracking the earnings — no froth, no gift

Since Oct 2018, the stock is up 65% and earnings per share are up 58% — the price has tracked the profits, not run ahead of them.pricettm_eps

The market is paying for delivery, not promises. What you see in earnings is what you get in the price.

Today’s P/E of 61.6× sits near the bottom of its own range — it has been cheaper than this only 25% of the time against its own history since 2018.pe_ratio

Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (67.6×).

The price is building a base — waiting for its next move

Every stock cycles through the same four seasons — a flat base (stage 1), an advance (2), a top (3), a decline (4). Right now this one is in Stage 1: basing, 3 weeks in, confirmed.stage

Long flat bases after a decline are where the next uptrend is born — but a base can last years. The signal to act is the breakout, not the base.stage

Beating NIFTY 500 for 5 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

A lumpy ride — no clean trend in profits

Over 11 years, sales went from ₹1,742 Cr to ₹4,446 Cr (about 9% a year), and profit from ₹43.0 Cr to ₹476 Cr.revenuenet_profit

Sales grew 14% last quarter — the 5th straight quarter of growth

Sep 25 sales were ₹1,266 Cr, up 14% on the same quarter last year.revenue

That makes 5 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are widening — 16% → 20% in a year

Of every ₹100 of sales, the company keeps ₹19.6 as operating profit (a year ago it kept ₹16.5).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at 9.9% in FY21 and has been rebuilt to 17.3% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (39% → 42%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 43% — mostly from keeping more of each sale

Sep 25 profit after tax was ₹191 Cr, up 43% year on year.net_profit

The profits are real — they turn into cash

Over the last 5 profitable years, the business reported ₹1,944 Cr of profit and collected ₹2,111 Cr of operating cash — about 109% conversion.operating_cash_flownet_profit

When cash tracks profit this closely, the earnings need no asterisk.

The cash cycle is stretching — more money stuck in the pipeline

One rupee now takes about 50 days to go out the door as materials and come back as collected cash — up from 19 days the year before.cash_conversion_cycle

The biggest mover: suppliers being paid sooner (120 → 104 days).payable_days

No big build-out underway — growth must come from what already exists

The productive asset base has gone from ₹418 Cr (FY14) to ₹417 Cr, with another ₹10.0 Cr of capacity under construction right now.fixed_assetscwip

The build is self-funded: the last 3 years' investing outflow (₹−38.0 Cr) fits inside the operating cash the business generated (₹1,463 Cr).investing_cash_flowoperating_cash_flow

Almost no debt — this company cannot be killed by a bad year

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹5 — total borrowings have shrunk from ₹121 Cr to ₹100 Cr over the window.borrowings

Every ₹100 kept in the business earns ₹38 — a high-quality engine

Return on capital employed is 38.0% (a year ago: 41.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

The owners aren’t moving

Promoters hold 75.0%, essentially unchanged. Foreign funds own 3.5%, domestic funds 8.3%.promoters_pctfiis_pctdiis_pct

The numbers earn a deeper study — and watch the one thing that matters

The numbers lean positive, and the price is roughly fair to the delivery so far.

Best thing in the data: free cash flow rising (₹374 Cr → ₹677 Cr).operating_cash_flow

Biggest worry: debt moving the wrong way (0.01× → 0.05×).borrowings

One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 55% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data