3M India (523395) Q2 26/27 earnings summary

Executive summary

• Q2 FY26-27 revenue from operations rose 14.7% YoY to ₹1,452.49 crore, while PAT fell 17.2% to ₹158.48 crore.

• Sales grew across all four principal business segments; Transportation & Electronics led with 23.4% YoY growth.

Financial highlights

• Q2 total income was ₹1,463.66 crore; PBT was ₹212.32 crore, down 15.3% YoY, and EBITDA was ₹234 crore, down 12.7% YoY.

• Q2 basic and diluted EPS were ₹140.68 each, versus ₹169.85 in Q2 FY25-26.

• H1 revenue from operations was ₹2,875.70 crore; PAT was ₹391.55 crore versus ₹369.02 crore in H1 FY25-26.

• H1 PBT was ₹514.48 crore, including a ₹73.13 crore gain from the Pimpri land sale; PBT before exceptional items was ₹441.35 crore.

Outlook and guidance

• Management cited continued Q2 sales momentum, driven by focus on commercial and innovation excellence; no quantified forward guidance was stated.

• Healthcare distribution relationship with Solventum was extended to March 31, 2031, subject to agreement provisions; specified P&F distribution rights are set to transition to Thermo Fisher, subject to closing conditions.