3M India Ltd. — Annual Report 2021

Jun 17, 2021

3M India Limited WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bangalore 560001, India Office : +91 80 22231414

Registered Office Plot Nos.48-51, Electronics City, Hosur Road Bangalore 560 100, India Office : +91 80 45594300

www.3m.com/in CIN: L31300KA1987PLC013543 investor helpdesk : investorhelpdesk.in@mmm.com PAN: AAACB5724H || GSTIN: 29AAACB5724H1ZQ

June 17, 2021

The Corporate Relationship Department Bombay Stock Exchange Limited, 1[st] Floor, New Trading Ring, Rotunda Building P.J. Towers, Dalal Street, Fort Mumbai - 400 001

Scrip Code - 523395

The Secretary National Stock Exchange of India Limited Exchange Plaza, Bandra – Kurla Complex Bandra (E), Mumbai – 400 051 Scrip Code – 3MINDIA

Dear Sir/ Madam

Sub: Compliance under Regulation 23(9) of the SEBI (LODR) Regulations, 2015.

Pursuant to Regulation 23(9) of SEBI (LODR) Regulations, please find attached disclosure of Related Party Transactions on a consolidated basis for the financial year ended March 31, 2021.

Kindly bring this to the notice of the members of the Stock Exchange.

Thanking you,

Yours faithfully, For 3M India Limited,

V. Srinivasan

Company Secretary

Encl: as above

FY ended March 31, 2021

3M INDIA LIMITED Notes to the consolidated financial statements (continued)

30 Related party transaction

Names of related parties and nature of relationship:

i) Holding company 3M Company, USA ii) Fellow subsidiaries (with whom 3M China Limited 3M Lanka Private Limited transactions have occurred during the 3M Thailand Limited Dyneon B.V. year) 3M France S.A 3M Belgium S.A./N.V. 3M Gulf Limited 3M Singapore Pte. Ltd. 3M Asia Pacific Pte. Ltd Sumitomo 3M Limited P.T. 3M Indonesia 3M Taiwan Limited 3M APAC RDC Pte Limited 3M Technologies (S) Pte Ltd 3M Australia Pty. Limited 3M Philippines, Inc. 3M Canada Company 3M Pakistan Private Limited 3M Do Brasil Limitada 3M International Trading (Shanghai) Co., Ltd 3M EMEA, GmbH 3M Panama Pacifico S 3M Espana, S.A. 3M Panama S.A 3M Hong Kong Limited 3M Vietnam Limited 3M Innovation Singapore Pte Limited 3M Hellas Limited 3M Italia S.P.A. 3M Germany Hilden GmbH 3M Malaysia Sdn. Bhn. 3M Innovation (Thailand) Co. Ltd. 3M Korea Limited 3M UK Holdings Limited 3M Korea Health & Safety Ltd 3M Wendt GmbH 3M Korea High Tech, Korea 3M Winterthur Technologies AG 3M United Kingdom PLC 3M Touch System Singapore PTE 3M ESPE Dental AG 3M Peru S.A Dyneon GmbH 3M Svenska AB 3M Unitek Corporation 3M International Group B.V. 3M Material Tech(Guangzhou) Co., Limited Emfi S.A. 3M Wroclaw SP. Z O.O. 3M Matl Tech Suzhou Co Ltd 3M South Asia Manufacturing Company Private Limited 3M Material Tech Hefei Co Ltd 3M Saudi Arabia Winterthur Tech Taican Co Ltd 3M Speciality Materials (Shanghai) Co. Ltd. 3M Health Care Ltd, Japan Trimodal Softech Solutions Private Limited Capital Safety Products India Private Limited 3M Global Service Management Company 3M Wendt Gmbh 3M New Zealand 3M Sanayi As Ticaret 3M Japan Ltd

iv) Post employment-benefit plan entities

v) Key management personnel

3M India Ltd Employees Gratuity Fund Trust 3M India Ltd Employees Superannuation Fund Trust 3M E&C Employees Gratuity Fund Trust 3M E&C Employees Superannuation Fund Trust

Executive Directors

Ramesh Ramadurai (Managing Director) B V Shankaranarayana Rao (Whole- time Director) (upto 13 May 2020) Mamta Gore (Chief Financial Officer) (Whole-time Director effective 01 September 2020)

Non-executive Directors

Amit Laroya Debarati Sen (From 01 June 2019 to 02 March 2020) Bharat D. Shah Biren Gabhawala Radhika Rajan Sadhana Kaul (Resigned effective 05 May 2020) Jongho Lee

Others

V. Srinivasan (Company Secretary)

3M INDIA LIMITED

Notes to the consolidated financial statements (continued)

30 Related party transactions (continued)

The details of the amounts due to or due from related parties are as follows:

The details of the amounts due to or due from related parties are as follows:
	(Rs. in lakhs)
Name of related party Relationship	31 March 2021 31 March 2020
Trade payables 3M Company, USA Holding company 3M APAC RDC Pte Limited Fellow subsidiary 3M Australia Pty. Limited Fellow subsidiary 3M Canada Company Fellow subsidiary 3M China Limited Fellow subsidiary 3M Do Brasil Limitada Fellow subsidiary 3M EMEA, GmbH Fellow subsidiary 3M Gulf Limited Fellow subsidiary 3M Health Care Ltd, Japan Fellow subsidiary 3M Hong Kong Limited Fellow subsidiary 3M Innovation Singapore Pte Limited Fellow subsidiary 3M Singapore Pte. Ltd. Fellow subsidiary 3M International Trading (Shanghai) Co. Ltd. Fellow subsidiary 3M Malaysia Sdn. Bhn. Fellow subsidiary 3M Material Tech(Guangzhou) Co., Limited Fellow subsidiary 3M New Zealand Fellow subsidiary 3M Panama Pacifico S Der L. Fellow subsidiary 3M Speciality Materials (Shanghai) Co. Ltd. Fellow subsidiary 3M Svenska AB Fellow subsidiary 3M Technologies (S) Pte Ltd 3M Innovation (Thailand) Co. Ltd. 3M Vietnam Limited 3M Taiwan Limited Fellow subsidiary 3M Thailand Limited Fellow subsidiary 3M United Kingdom Plc Fellow subsidiary 3M Unitek Corporation Fellow subsidiary Dyneon GmbH Fellow subsidiary Dyneon B.V. Fellow subsidiary Emfi S.A Fellow subsidiary 3M Poland Sp. Z O.O Fellow subsidiary Sumitomo 3M Limited Fellow subsidiary 3M Matl Tech Suzhou Co Ltd 3M Korea High Tech, Korea 3M Material Tech(Guangzhou) Co Limited Winterthur Tech Taican Co Ltd 3M Wendt Gmbh Cuno Pacific Pty Ltd Australia Fellow subsidiary 3M Innovation Singapore Pte Ltd P.T. 3M Indonesia Fellow subsidiary 3M Korea Limited 3M Material Tech Hefei Co Limited Other financial liabilities 3M Company, USA Holding company 3M Korea Limited Fellow subsidiary P.T. 3M Indonesia Fellow subsidiary 3M Singapore Pte. Ltd. Fellow subsidiary	9,803.77 10,415.40 802.12 1,208.08 92.05 0.56 810.00 829.20 429.73 697.26 114.23 189.22 3,112.01 2,958.56 - 70.63 2,122.26 1,468.42 243.16 75.01 6,506.74 4,105.76 - 122.75 - 1.96 6.70 - - 374.50 0.27 - 32.90 90.68 615.14 380.71 - - 67.03 - 3.44 - 8.01 - 12.82 36.09 38.67 53.90 - 2.69 15.13 38.05 - 14.22 22.90 - 255.55 152.32 19.80 19.80 0.05 39.22 - 249.02 71.19 81.81 9.16 - 82.15 39.77 3.41 - 70.03 3.43 80.25 - 6.98 - 985.59 168.35 389.17 204.51
	26,832.41 24,091.88
	2,087.20 1,332.58 155.18 - 183.20 - 193.13 162.10
	2,618.71 1,494.68

3M INDIA LIMITED

Notes to the consolidated financial statements (continued)

30 Related party transactions (continued)

The details of the amounts due to or due from related parties are as follows (continued):

The details of the amounts due to or due from related parties are as follows (continued):
	(Rs. in lakhs)
Name of related party Relationship	31 March 2021 31 March 2020
Trade receivables 3M Company, USA Holding company 3M Australia Pty Limited Fellow subsidiary 3M EMEA, GmbH Fellow subsidiary 3M Gulf Limited Fellow subsidiary 3M Hong Kong Limited Fellow subsidiary 3M Innovation Singapore Pte Limited Fellow subsidiary 3M Korea Limited Fellow subsidiary 3M Malaysia Sdn. Bhn. Fellow subsidiary 3M Philippines, Inc. Fellow subsidiary 3M Singapore PTE Ltd Fellow subsidiary 3M Speciality Materials (Shanghai) Co. Ltd. Fellow subsidiary 3M Sanayi As Ticaret Fellow subsidiary 3M Costa Rica, S.A. 3M Nederland B.V. 3M Thailand Limited Fellow subsidiary 3M Vietnam Limited Fellow subsidiary 3M Saudi Arabia Fellow subsidiary 3M Innovation (Thailand) Co. Ltd. 3M Technologies (S) Pte Ltd P.T. 3M Indonesia Fellow subsidiary 3M Peru S.A Fellow subsidiary Sumitomo 3M Limited Fellow subsidiary Other financial assets 3M Company, USA Holding Company 3M Global Service Management Company 3M China Limited Fellow subsidiary 3M Korea Limited Fellow subsidiary 3M Thailand Limited Fellow subsidiary 3M Lanka Private Limited Fellow subsidiary P.T. 3M Indonesia Fellow subsidiary 3M International Trading (Shanghai) Co. Ltd. Fellow subsidiary 3M Malaysia Sdn. Bhn. Fellow subsidiary 3M South Asia Manufacturing Company Private Limite Fellow subsidiary 3M Philippines, Inc. Trimodal Softech Solutions Private Limited Fellow subsidiary	63.85 10.91 0.15 - 168.14 0.73 - 3.21 11.23 10.27 63.47 - 3.36 - 12.63 0.85 1.06 - - 27.26 - 8.67 165.11 - - 0.51 - 0.66 231.12 54.82 138.34 71.92 - 119.53 170.07 - 32.36 - 3.96 143.63 0.78 - 3.55 0.28
	1,069.18 453.25
	1,095.66 543.56 836.42 325.45 161.74 73.22 - 250.40 53.29 39.19 10.24 - - 215.20 37.07 534.75 - 27.80 142.67 87.41 207.49 114.01 18.07 70.35
	2,562.65 2,281.33

Notes to the consolidated financial statements (continued)

3M INDIA LIMITED

30 Related party transactions (continued)

Details of the related party transactions entered into by the company are as follows:

Name of related party Relationship	31 March 2021 31 March 2020
Remuneration paid to Key management personnel # Debarati Sen Managing Director Ramesh Ramadurai B V Shankaranarayana Rao Whole-time Director Mamta Gore Chief Financial Officer V. Srinivasan Company Secretary Sitting fees and commission paid to Key management personnel Bharat D. Shah Non-executive and Independent Director Biren Gabhawala Non-executive and Independent Director Radhika Rajan Non-executive and Independent Director Sales of products (net of returns) 3M Company, USA Holding company 3M Gulf Limited Fellow subsidiary 3M Thailand Limited Fellow subsidiary 3M Korea Limited Fellow subsidiary P.T. 3M Indonesia Fellow subsidiary 3M EMEA, GmbH Fellow subsidiary 3M Pakistan Private Limited Fellow subsidiary 3M Lanka Private Limited Fellow subsidiary 3M China Limited Fellow subsidiary 3M Hong kong Limited Fellow subsidiary 3M Technologies (S) Pte Ltd Fellow subsidiary 3M Taiwan Limited Fellow subsidiary 3M Philippines, Inc. Fellow subsidiary 3M Australia Pty. Limited Fellow subsidiary 3M Vietnam Limited Fellow subsidiary 3M Sanay AS Ticaret Fellow subsidiary 3M Singapore Pte. Ltd. Fellow subsidiary Sumitomo 3M Limited Fellow subsidiary 3M Saudi Arabia Fellow subsidiary 3M Chile S.A Fellow subsidiary 3M Peru S.A Fellow subsidiary 3M Malaysia Sdn. Bhn. 3M Asia Pacific Pte. Ltd Fellow subsidiary 3M Do Brasil Limitada Fellow subsidiary 3M Malaysia Sdn Bhn 3M Australia Pty Limited 3M Costa Rica, S.A. 3M South Africa Limited 3M New Zealand 3M Nederland B.V. 3M APAC RDC Pte Limited Contributions during the year 3M India Ltd Employees Gratuity Fund Trust 3M India Ltd Employees Superannuation Fund Trust 3M E&C Employees Gratuity Fund Trust 3M E&C Employees Superannuation Fund Trust # Excludes contributions to employee retirement / post retirement and other employee benefits which are based basis.	- 362.39 307.97 383.96 131.03 560.30 468.27 405.21 52.18 50.73
	959.45 1,762.59
	21.80 21.60 21.60 21.40 21.00 21.00 on actuarial valuation done on an overall Company
	64.40 64.00
	88.16 117.80 4.29 28.00 549.28 434.28 40.99 122.75 64.63 423.56 173.62 193.53 - 23.82 - (2.24) 0.37 - 23.97 32.45 108.30 - 3.78 14.24 3.38 - 343.17 - 412.08 340.60 186.90 - 33.87 0.06 11.49 102.64 334.47 363.39 - 37.31 0.78 2.53 156.51 83.52 92.29 - 20.93 - 50.50 0.88 0.87 - 0.47 - 10.83 35.98 - - 0.61 - 0.12
	2,660.42 2,411.34
	- 850.00 111.33 115.34 - 85.00 12.18 12.38
	123.51 1,062.72

3M INDIA LIMITED

Notes to the consolidated financial statements (continued)

30 Related party transactions (continued)

Details of the related party transactions entered into by the company are as follows (continued):

Details of the related party transactions entered into by the company are as follows (continued):
	(Rs. in lakhs)
Name of relatedparty Relationship	31 March 2021 31 March 2020
Income from contract research 3M Company, USA Holding company Income from management support services 3M Company, USA Holding company 3M Global Service Management Company Company Private Limited Fellow subsidiary 3M Lanka Private Limited Capital Safety Products India Private Limited Trimodal Softech Solutions Private Limited Reimbursement of expenses received 3M Company, USA Holding company 3M Global Service Management Company P.T. 3M Indonesia Fellow subsidiary 3M Korea Limited Fellow subsidiary 3M Singapore PTE Ltd Fellow subsidiary 3M Thailand Limited Fellow subsidiary 3M Philippines, Inc 3M Malaysia Sdn. Bhd. Fellow subsidiary 3M China Limited Fellow subsidiary Purchase of materials (net of returns) 3M Company, USA Holding company 3M APAC RDC Pte Limited Fellow subsidiary 3M Australia Pty. Limited Fellow subsidiary 3M Belgium S.A./N.V. Fellow subsidiary 3M Canada Company Fellow subsidiary 3M China Limited Fellow subsidiary 3M Do Brasil Limitada Fellow subsidiary 3M EMEA, GmbH Fellow subsidiary 3M ESPE Dental AG Fellow subsidiary 3M France S.A Fellow subsidiary 3M Germany Hilden GmbH Fellow subsidiary 3M Hong Kong Limited Fellow subsidiary 3M Innovation (Thailand) Co. Ltd. Fellow subsidiary 3M Innovation Singapore Pte Limited Fellow subsidiary 3M Italia S.P.A. Fellow subsidiary 3M Japan Ltd Fellow subsidiary 3M Korea Health & Safety Ltd Fellow subsidiary 3M Korea Limited Fellow subsidiary 3M Malaysia Sdn. Bhn. Fellow subsidiary 3M Material Tech(Guangzhou) Co., Limited Fellow subsidiary 3M New Zealand Fellow subsidiary 3M Panama S.A Fellow subsidiary 3M Philippines, Inc. Fellow subsidiary 3M Speciality Materials (Shanghai) Co. Ltd. Fellow subsidiary 3M Taiwan Limited Fellow subsidiary 3M Thailand Limited Fellow subsidiary 3M UK Holdings Limited Fellow subsidiary 3M United Kingdom PLC Fellow subsidiary 3M Unitek Corporation Fellow subsidiary 3M Wendt Gmbh Fellow subsidiary 3M Winterthur Technologies AG Fellow subsidiary 3M Wroclaw SP. Z O.O. Fellow subsidiary Dyneon B.V. Fellow subsidiary Dyneon GmbH Fellow subsidiary 3M International Trading (Shanghai) Co., Ltd Fellow subsidiary 3M Korea Hightech Limited Fellow subsidiary 3M Singapore Pte. Ltd. Fellow subsidiary 3M Technologies (S) Pte Ltd Fellow subsidiary Wendt Boart S.A Fellow subsidiary 3M Svenska AB Fellow subsidiary Emfi S.A. Fellow subsidiary Cuno 3M Germany Fellow subsidiary	1,412.89 2,081.75
	1,412.89 2,081.75
	1,113.91 1,547.53 2,028.05 - 132.24 69.92 10.24 - 2.02 1.20 11.17 159.75
	3,297.63 1,778.40
	- 922.17 1,426.73 361.03 505.46 290.41 482.18 48.14 295.99 107.99 153.03 - 172.27 - 88.26 50.09 132.24
	2,284.39 2,751.60
	29,348.81 37,172.02 3,483.98 7,859.84 109.38 0.56 21.38 14.43 1,432.94 2,522.81 1,931.44 2,232.36 440.57 792.06 5,769.12 4,733.69 346.14 798.58 183.97 504.59 1,540.13 2,765.18 590.36 182.60 46.51 3.15 30,144.36 23,177.85 202.16 381.87 213.60 - 0.86 - 1,198.22 1,203.50 15.61 9.70 576.91 989.77 3.63 0 218.39 474.78 0.54 8.66 2,204.28 821.62 174.10 167.67 429.20 258.47 - 321.39 179.78 17.56 135.38 201.42 21.28 9.19 802.17 228.29 2,039.60 592.43 - 16.40 - 1,768.68 110.18 29.30 496.66 370.91 410.28 330.58 39.28 1.41 - - - 300.17 695.08 - 213.10 114.65

3M INDIA LIMITED

Notes to the consolidated financial statements (continued)

30 Related party transactions (continued)

Details of the related party transactions entered into by the company are as follows (continued):

Details of the related party transactions entered into by the company are as follows (continued):
	(Rs. in lakhs)
Name of relatedparty Relationship	31 March 2021 31 March 2020
Cuno 3M Poland Fellow subsidiary Cuno Europe (France ) Fellow subsidiary Cuno Inc (USA) Fellow subsidiary Cuno K.K (Japan) Fellow subsidiary 3M Panama Pacifico S Der L. Fellow subsidiary P.T. 3M Indonesia Fellow subsidiary Sumitomo 3M Limited Fellow subsidiary Cuno Pacific Pty Ltd Australia Fellow subsidiary 3M Vietnam Limited 3M Material Tech Hefei Co Limited Corporate management fees (excluding ineligible portion of Goods and Service Tax) 3M Global Service Management Company Fellow subsidiary Royalty (excluding ineligible portion of Goods and Service Tax) 3M Company, USA Holding company Recharges of expenses paid 3M Company, USA Holding company 3M Gulf Limited Fellow subsidiary	214.19 2.77 76.31 25.01 2,149.70 1,158.94 39.92 9.74 67.62 68.51 122.13 - 6,780.66 6,031.23 187.61 145.46 37.32 7.13 2,200.68 546.32
	97,645.52 99,373.25
	10,644.88 12,582.66
	10,644.88 12,582.66
	3,173.35 4,156.04
	3,173.35 4,156.04
	50.44 209.82 186.81 224.96
	237.25 434.78