3M India Ltd Share Price

History of 3M India Ltd

3M India Limited was originally incorporated in year 1987 with the name Birla 3M Limited. The Company was changed into a public limited in April , 1989. In December 2002, the company name was changed to 3M India Limited from Birla 3M Limited. 3M India Limited is the flagship listed company of 3M Company, USA in India. 3M Company, USA holds 75% equity stake in the company and is a diversified technology and science company with a global presence in Safety and Industrial; Transportation & Electronics; Health Care; and Consumer and is among the leading manufacturers of products for many of the markets it serves. Most of its products involve expertise in technology, product development, manufacturing and marketing, and are subject to competition from products manufactured and sold by other ...technologically oriented companies. The Company has manufacturing facilities at Ahmedabad, Bengaluru, Pune and has the Corporate Office and Customer Innovation Center (R&D Center) in Bengaluru. It managed operations in 4 operating business segments: Safety & Industrial; Transportation & Electronics; Health Care; and Consumer. The Company's 4 business segments bring together common or related 3M technologies, enhancing the development of innovative products and services and providing for efficient sharing of business resources. 3M products are sold through numerous distribution channels, including directly to users and through numerous e-commerce and traditional wholesalers, retailers, jobbers, distributors, and dealers in a wide variety of trades in many countries around the world. The Industrial segment serves a broad range of markets, such as automotive original equipment manufacturer (OEM) and automotive aftermarket (auto body shops and retail), electronics, appliance, paper and printing, packaging, food and beverage, and construction. Industrial products include tapes, a wide variety of coated, non-woven and bonded abrasives, adhesives, advanced ceramics, sealants, specialty materials, closure systems for personal hygiene products, acoustic systems products, and components and products that are used in the manufacture, repair and maintenance of automotive, marine, aircraft and specialty vehicles. The Health Care business segment serves markets that include large multi-specialty hospitals and small clinics, dental and orthodontic practitioners, processed food manufacturers and pharmaceutical companies. The product offerings in this segment include medical and surgical supplies, medical devices, skin & wound care and infection prevention products & solutions, drug delivery systems, dental and orthodontic products and food safety products. The Safety & Graphics business serves a broad range of markets that serve to increase the safety, security & productivity of people & improves facility design, aesthetics, hygiene, etc. Major product offerings in this segment include personal protection products; traffic safety & security products, border security solutions; public safety & identity management solutions; commercial graphics sheeting & systems; architectural surface & lighting solutions; cleaning & protection products for commercial establishments, etc Personal protection products include maintenance-free & reusable respirators, personal protective equipment, head & face protection, body protection, hearing protection & protective eyewear. The Consumer segment serves markets that include consumer retail, modern trade, office retail and other emerging retail channels. The products in this segment include office supply products, stationery products, home care products and protective material products. Major consumer products include Scotch brand products, such as Scotch Magic Tape and Scotch Glue Stick; Post-it Products. The Infrastructure Protection Products Division of 3M India offers a comprehensive array of products that ensure effective protection against corrosion for a variety of installations and structures. While 3M Scotchkote Fusion Bonded Epoxy Powders and Scotchkote Liquid Epoxy Coatings offer protection for steel pipelines, associated fittings and structures used in the oil, gas, water, industrial and construction markets, the range of 3M Scotchcast Powder Resins are ideal for OEM electrical insulation applications. 3M Dynatel Locators combine simple interfaces, large backlit high-resolution graphics, excellent balance and ergonomics with precision locating capabilities to quickly and accurately identify underground assets. In Renewable Energy, 3M India is helping to transform the fields of Generation & Conservation of Energy. 3M supports solar and wind energy initiatives through product solutions such as films, tapes, coatings, encapsulants and adhesives that help reduce the cost of energy generation. In February 1990, they inaugurated Customer Tech Centre in Bangalore. In the year 1994, the company opened Customer Sales Centre at Chennai, Kolkata and Bangalore. In November 1995, they opened a new warehouse in Bangalore. In February 1996, the company inaugurated Graphics Production Centre. Also, they opened new warehouse in Mumbai. In December 1996, they opened their second Customer Sales Centre in Bangalore. In the year 1997, they opened a warehouse in Chennai. In the year 1998, the company opened the new Customer Sales Centre with expanded facilities at Delhi. Also, they inaugurated Innovation Center at Bangalore. In June 2000, the company acquired the business of Autostriping India, which develops and produces graphics for two wheelers and the company also inaugurated the centralized Corporate Office. In the year 2004, the company inaugurated a Manufacturing Facility for Corrosion Protection Products in Ahmedabad, Gujarat. In the year 2006, they acquired Mahindra Engineering & Chemical Products Ltd. In October 2007, they acquired Macroworx Media Pvt Ltd. The company executed of new manufacturing plant at Pune in Maharashtra and expanded the manufacturing facility at Ahmedabad in Gujarat. In the year 2008, the company increased the production capacity of Self Adhesive Labels from 40,000,000 Nos to 50,000,000 Nos. During the year 2008, 3M India's 5th manufacturing facility at Ranjangaon in Maharashtra became operational. In 2009, Phase 2 of 3M India's Corrosion Protection Manufacturing Facility at Ahmedabad was inaugurated. In 2010, 3M India made its first foray into the retail space with the launch of the 3M Car Care Centre initiative. During the year, 3M India filed 13 patents and launched over 23 new product innovations for the India market. In 2011, 3M India inaugurated its biggest Distribution Centre at Electronics City, Bangalore to meet 2015 growth needs. During the year, the company expanded regional presence with 4 branch offices in Kolkata, Chennai, Pune and Gurgaon. Also during the year, the company inaugurated two state-of-the-art Innovation Centres at Bangalore and Gurgaon to focus on local product innovations. The company filed 14 patents during the year.The Board of Directors of 3M India at its meeting held on 20 April 2011 approved an investment of Rs 70 core towards expansion of manufacturing facility at Ranjangaon for Non-woven maker project to be executed during the calendar years 2011 and 2012. On 31 August 2012, 3M India informed the stock exchanges regarding recognition of the company's In-House R&D unit at Bangalore by Department of Scientific and Industrial Research (DSIR). On 19 March 2013, 3M India's US based parent company 3M Company announced that it proposes to sell 1.13 lakh equity shares of the company on 21 March 2013 through a sale on the separate windows provided by the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) respectively for this purpose. Earlier, on 11 March 2013, 3M Company US announced its intention to off load 1% of its holding in 3M India to comply with the minimum public shareholding by all listed companies as prescribed by SEBI.Consistent with 3M's global strategy of building relevance and presence in the marketplace, 3M India aligned resources and management towards a new revised structure comprised of five business groups: Consumer; Industrial; Health Care; Safety and Graphics; and Energy from 1 April 2013. During the year ended 31 March 2014, 3M India's Automotive After-Market Division increased its presence to 1400+ body shops in India. The Advanced Materials Division made an impactful entry into the growing Paints & Coating segment with the qualification of three specialty products by India's leading decorative paints company. The company's Healthcare division launched first of its kind online portal for dental clinics. 3M Health Care expanded its footprint in India with the establishment of its second manufacturing unit at Ranjangaon, Pune. The Healthcare Manufacturing facility is equipped with state-of-the-art technology and capability to manufacture a wide range of Liquid Medical Products, Tapes and Dressings and was inaugurated in August 2013. The company's Food Safety solutions helped FMCG Companies to enhance their food safety standards. The Home care division launched India's first foot lock products. The Consumer division entered consumer health market with Nexcare products. During the year, the Home Care manufacturing facility came on stream at the company's Ranjangoan facility to manufacture local products for the utensil category. The first designed in India' product in the floor care range - based on consumer insight was launched in the quarter ended 31 December 2013. In the stationary business, both the Post-it brand & Scotch brand introduced new & exciting products as line extensions, mainly targeted to the student segments. The Safety & Graphics division introduced products for Indian Navy and car personalisation wrap films. 3M Traffic Safety systems division (TSSD) launched the Contractor Contact Program to reach out to large contractors/freelancers, thereby increasing penetration & expanding channel presence. The Commercial Graphics Business executed a Turnkey Interior Graphics program for SBI ATM Branding covering over 130 locations, bagged the second order for Custom Sign Design for Mahindra & Mahindra's identity change program for exterior signages at more than 200 outlets and completed execution of more than 800 locations of White Label ATMs under the Government's policy of financial inclusion. The Architectural Markets Business completed large installations of its decorative surfaces products at landmark projects such as the Bangalore & Delhi International airports.For the first time Indian nuclear & thermal power sector used 3M India's Scotchkote products. 3M India's capital investment during the year 2013-14 was at Rs. 4,758.98 Lakhs (Net of capital work-in-progress and capital advances). 3M India's focus during the financial year ended 31 March 2015 was to improve the availability of its products in a sustained manner in the secondary and tertiary towns. During the year, the company continued to improve the planning process and the productivity of the sales force. The company's Industrial Retail business reached out to 10,000 retailers selling core industrial products. Industrial Adhesives and Tapes Division won an initial order of Fire Protection Products (FPP) for a high rise under construction building by a leading builder. During the year, the company consolidated its leadership position in the Abrasives category across segments with the launch of patented 'Precision Shaped Grains' Cubitron II abrasives & Flexible abrasives. Dedicated teams focusing on Industrial Retail business spanning across Wood working, decorative & auto refinish helped penetration into lower tiers of the Indian market. Expansion of the 3M Car Care Center initiative helped in enhancing visibility for the 3M brand and reinforced 3M as the leading name in this new business segment. During the year, 3M India commenced the production and sale of industrial non-woven abrasive hand pads from its Ranjangaon plant.The Automotive Division won paint replacement film business at leading Original Equipment Manufacturers (OEMs). The Advanced Materials Division won tenders from leading public sector oil companies. During the year under review, 3M India's Healthcare division won share for dressing products in leading corporate hospitals. The division successfully renewed large contracts for locally manufactured products across the country, successfully expanded e-commerce business including large number of orders from dentists, and improved direct presence in 200 small cities by expanding hospital coverage. In the Consumer business, the Home care division initiated product availability through e-commerce. The consumer business successfully placed high end mops at leading modern trade accounts. The consumer division re-launched Scotch-Brite scrub pad with new packaging and television commercial. It also re-launched Scotch-brite scrub sponge with new packaging and television commercial focused towards metro markets and Tier A consumers. In the stationary business, both the Post-it brand & Scotch brand introduced new & exciting products as line extensions, mainly targeted to the student segments. The Safety & Graphics division won tenders for matting from metro rail corporations, expanded direct reach to more than 3,000 Small, Medium Enterprises (SMEs) in prioritized clusters and continued to win business from Banking Financial Services Industry (BFSI) sector for signage and branding programs. The Safety & Graphics division launched 3M Tubular Daylighting Guiding System (TDGS) which harness sunlight in Buildings and Factories. 3M India introduced Radio Frequency Identification Tags (RFID) based e-tolling readers, access control, Automatic Number Plate Recognition (ANPR) based traffic monitoring system as part of the smart city/intelligent transportation systems (ITS) offerings.The Energy division won an order for locaters and markers from a major defence contractor. 3M India's total capital investment during the year 2014-15 was at Rs. 1,471.70 Lakhs (Net of capital work-in-progress and capital advances). During the financial year ended 31 March 2016, 3M India focused on prioritizing resources to prioritized businesses. The company strengthened the predictability of its actions by focusing on a few metrics, following the Hoshin Kanri methodology of Business Process Execution. During the year under review, the company developed a deep understanding of the external environment with focus on business segments that are profitable. The compan1 enhanced its customer service team and developed newer business models including ecommerce, which helped in attaining a more effective reach to end customers. 3M India's total capital investments during the year 2015-16 were at Rs. 1,092.46 Lakhs (Net of capital work-in-progress and capital advances). During the year under review, the company's industrial business division continued to focus on high gross margins product categories while rationalizing low profitable ones to stabilize profits. The Industrial Retail business comprising wood working, decorative & auto refinish excelled in penetrating into lower tiers of the Indian market. Despite the currency translation, the Industrial adhesives & tapes team achieved high bottom line growth through portfolio prioritization and increased local asset utilization. 3M India continued to invest in the Car Care segment with new formats which include mobile detailing and fuel station centers fueling further growth in this space. The company ventured into the e-commerce space with Automotive After-Market products with a plan to add products from other business groups. During the year under review, 3M India's abrasive products ramped up local conversion to ensure faster execution of custom requirements. The company continued its market leader position in the Paint Finishing System segment. 3M Healthcare partnered with leading hospitals to upgrade Operating Room practices and sterilization assurance standards. The Traffic Safety & Security Division launched new products like Conspicuity Tapes, Vertical Delineators, Solar RPMs, flexible median markers, etc. in the road safety market. The Traffic Safety & Security Division also launched new products like Automated Number Plate Recognition (ANPR) cameras, Variable Message Signs to cater to the Smart City Requirements in India. ANPR Cameras help the city authorities automate enforcement of traffic rules thereby making the roads safer to drive on. The Commercial Solutions division saw a lot of success in the refurbishment and vehicle personalization market spaces and continues to invest in awareness building programs. The Consumer Division continued growth with distribution expansion program to increase availability of Home Care range of products in Tier B&C towns. The division focused on growth in Modern Trade by partnering with Key players for categories in Home Care & Stationery products. In the Energy Division, 3M India's High Temperature Scotchkote Fusion Bonded Epoxy powder was used to coat offshore pipelines. For Renewable energy business, there was increased usage of Energy Management and safety films due to enhanced focus on energy efficiency & green buildings, security concerns and the growing usage of glass in commercial and residential complexes. During the year under review, 3M Car Care sales growth was fueled by launch of new formats including fuel station outlets and mobile detailing units. Collision Repair successfully gained share in Body repair space with the Body Man range of tools and consumables. The Abrasive Systems division continued to drive productivity & efficiency among manufacturing companies in India through patented abrasive mineral. Abrasive Systems division also drove the Make in India initiative by developing & manufacturing new range of abrasive non-woven hand-pads specifically designed in India for Indian customer requirements. The Automotive and Aerospace Solutions Division business started shift towards growing more sustainable and profitable 4W business with an enhanced portfolio well aligned to mega trends in this sector. Industrial Retail Business renewed focus on increasing geographic penetration & retailer relevancy by way of rebuilding the distribution product portfolio. Revised channel strategy and product portfolio creation drove growth during the year. 3M India's Health Care business division's Go-to-Market strategy to expand reach into smaller cities through the extended sales representative model was successfully scaled up leading to higher level of penetration of 3M products in markets that were earlier not covered. Sales through e-commerce for both medical and dental products have gained traction. The Traffic Safety & Security Division continued on the growth path in the road safety market with launch of new products like Conspicuity Tapes, Solar RPMs, flexible median markers, etc. The Personal Safety Division continued to grow strongly with significant contribution from Pharmaceutical, Automotive and General Engineering Sectors. The division continues to increase its penetration into the SME segment through various awareness and contact programs and other onsite SME activation Programs. Significant penetration was made with cutting edge solutions for Smart Cities in the areas of Intelligent Transportation via Automated Number plate Recognition cameras (ANPR), e-Tolling technologies & Smart Variable Message Signs. The Smart Variable message Signs provide real time, contextual & automated information to motorists & allow a host of smart sensors to be integrated into a single platform allowing better information dissemination, disaster management & traffic enforcement. The Commercial Solutions Division saw a lot of success in refurbishment, car personalization and styling along with new projects in banking and Oil & Gas segments. 3M India maintained a strong and consistent performance, driving profitable growth in financial year ended 31 March 2018. The company leveraged portfolio diversity and operational discipline to deliver a market differentiated performance. Customer first and a growth mindset with razor-sharp focus on quality of business metrics defined the company's performance during the year. The company expanded presence and reached the Western and Eastern regions of the country with focused business execution plans for deeper penetration and grew through access into Tier II and III cities. During the year under review, the company introduced several steps to improve channel health through simplified processes, professional management and rationalization. The company has drove value and expanded its participation through local manufacturing, robust new product introduction process and value addition. 3M India's capital investments during the financial year 2017-18 aggregated to Rs. 1,641.10 Lakhs (net of capital work-in-progress and capital advances). During the year under review, the company's Industrial Adhesive and Tapes Division continued its focus on Passive Fire Portfolio, driving relevance in Construction Market, and strengthened Converter Business Model, increasing penetration in Transportation & Appliance market. The company continued to gain share in the Advanced Materials markets with its differentiated offerings from Ceramics like evaporation boats for packaging industry and friction shims for automotive industry. During the year under review, 3M Car Care crossed the 100-Store landmark and initiated a Master Franchisee partnership for North & East India. Sales growth in Automotive Aftermarkets Division's OEM Segments (Collision Repair & Nested Autocare) was fueled by NPI Launches in Abrasives & Air Care platforms. Through cross functional collaboration and customer-first approach, the Automotive and Aerospace Division achieved recognition from top customers such as Suzuki, Tata & Toyota. While Abrasives Systems Division witnessed strong growth in AOEM & auto comp segment with the Cubitron II, Trizact & Scotchbrite, the new products helped the division garner higher share segments like Structural Steel, Construction equipments, Orthopaedic Implants etc. The creation of Industrial & Safety Market Center has resulted in laser sharp focus on Key Accounts & Long-Tail customers through dedicated teams and channel. The company's Safety & Graphics business division achieved significant penetration with cutting edge solutions for Smart Cities in the areas of urban mobility with Smart Variable Message Signs. The Smart Variable message Signs provide real time, contextual & automated information to motorists & allow a host of smart sensors to be integrated into a single platform allowing better information dissemination, disaster management & traffic enforcement. During the year under review, the Commercial Solutions division saw a lot of success in refurbishment, car personalization and styling along with new projects in banking and Oil & Gas segments. The Consumer segment achieved strong performance in Home Care led by scouring with an exciting new product launch of Anti- Bac scrub pad. The consumer division launched command range of products in e-Commerce. The consumer division reported continued growth in the office supplies channels with Post-it & Scotch range of products aimed at office workforce segment. The division achieved accelerated growth in Modern Trade by partnering with key modern trade customers for categories in Home Care & Stationery products. The distribution expansion program was aimed at increasing availability of Home Care range of products in Tier B&C towns through partnership with wholesalers across the country. The division partnered with adjacent category & household brands for cross promotional activities thereby expanding household reach for scouring and wipes products. The company made continued investment in the brands viz 'Scotch-Brite', Post-It and Scotch through various brand building activities in Mass Media, Digital Media and in Point of Sales. The consumer division reported accelerated sales through e-commerce channel with focus on product portfolio, good digital content and on-line demand generation programs. In 2022, the Company added ISO/IEC 27017:2015 requirements for cloud services. It launched the Work Your Way model globally, introducing a trustbased work framework. It established the Diverse Abilities Network, focused on supporting individuals with disabilities. 3M Learn, a global learning platform was launched which accelerated a more digital and integrated learning system to employees in 2023. On April 1, 2024, 3M Company, USA implemented the planned spin-off of its Health Care business, formally launching Solventum Corporation as an independent company. A new Robotics Lab was established in Bangalore in FY24. The Company commenced the production of a specialised corrosion protection coating for aviation fuel pipelines at Ahmedabad Unit during the year. It introduced 3MT Structural Acrylic Adhesive in 2024. Multiple Effective Evaporator (MEE) system was commissioned in February, 2024. The manufacturing plant was made operational in Pune during the year. 3M Electro & Communication India Private Limited, wholly owned subsidiary of the Company got merged with the Company on April 1, 2023, in FY 2024. The Company introduced 3MT CubitronT II abrasives marked a turning point in the manufacturing process in FY 2025. Technologies like 3MT Diamond GradeT DG3 Reflective - Type XI Sheeting and 3MT Raised Pavement Markers (RPMs) launched in FY25.