3M India Ltd. — Annual Report 2021

May 28, 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

May 28, 2021

The Corporate Relationship Department Bombay Stock Exchange Limited, 1st 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: Outcome of the Board Meeting held on May 28, 2021.

Ref: Reg. 30(2) and Reg. 33 of SEBI (LODR) Regulations, 2015

In continuation of our letter dated May 14, 2021, we wish to inform you that the Board of Directors of the Company at its meeting held through Video Conference (VC) on May 28, 2021 (Friday) have transacted the following items inter-alia other business(es):

1. The Audited Financial Results (Standalone & Consolidated) for the quarter and financial year ended March 31, 2021 was approved and taken on record by the Board of Directors. The same was signed by Mr. Ramesh Ramadurai, Managing Director of the Company, attached as “Annexure-1”.

2. Auditors’ Report on the Audited Financial Results (Standalone & Consolidated), attached as “Annexure-2”.

3. The Auditors of the Company, Messrs. B S R & Co. LLP, Chartered Accountants, Bengaluru (ICAI Firm Registration No. 101248W/W-100022) has issued the Audit Reports for Financial Statements (Standalone & Consolidated) as per the Companies Act, 2013 and Financial Results (Standalone & Consolidated) as per SEBI (LODR) Regulations, 2015 for the financial year ended March 31, 2021 with an unmodified opinion. A copy of declaration in respect of “unmodified opinion” on Audited Financial Results (Standalone and Consolidated) is enclosed as “Annexure-3”.

4. The 34[th] Annual General Meeting (AGM) of the Members of the Company will be held on August 26, 2021 (Thursday) through Video Conferencing (“VC”)/other Audio-Visual Means (“OAVM”).

5. The Board of Directors based on the recommendation of the Nomination and Remuneration Committee and the Audit Committee have:

6. Accepted the resignation of Ms. Mamta Janak Gore (DIN: 08792863) as Whole-time Director and Chief Financial Officer of the Company with effect from the closing hours of May 31, 2021, consequent upon her taking up a new role within 3M Group from June 1, 2021. However, Ms. Mamta Janak Gore will continue as a Non-Executive Director of the Company with effect from June 1, 2021. Accordingly, the designation of Ms. Mamta Janak Gore will be changed from Whole time Director & CFO to Non-Executive NonIndependent Director with effect from June 1, 2021.

7. Appointed Ms. Vidya Sarathy (PAN: AAHPV7051R) as Chief Financial Officer and also as a Key Managerial Personnel of the Company with effect from June 1, 2021.

We hereby affirm that Ms. Vidya Sarathy, who has been appointed, is not debarred from holding the office as Chief Financial Officer and also as a Key Managerial Personnel by virtue of any SEBI order or any such authority and is not related to any other Directors of the Company and she along with her family members does not hold any shares in the Company.

“ ” The relevant details in terms of SEBI (LODR) Regulations, 2015 is enclosed as Annexure 4 .

1. Updates under SEBI (LODR) Regulations, 2015 – Chapter IV, Regulation 30(5) is enclosed as “Annexure 5”.

7. Press Release is enclosed as - “Annexure 6”

The Meeting commenced at 12:02 P.M. and concluded at 01:20 P.M.(IST) Kindly bring this to the notice of the members of the Exchange. Thanking you,

Yours faithfully, For 3M India Limited, V. Srinivasan

Company Secretary

Encl: as above

Annexure-1

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001

India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED

REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100 STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2021

					Rs. in Lakhs (except	in respect of item 12)
Sl	Particulars	3 months ended	3 months ended	3 months ended	12 months ended	12 months ended
No		31 March 2021	31 December 2020	31 March 2020	31 March 2021	31 March 2020
		(refer note 2)	(Unaudited)	(refer note 2)	(Audited)	(Audited)
1	Income
	(a) Revenue from operations	76,923.37	68,378.34	62,721.36	242,036.39	276,487.73
	(b) Other income	755.48	649.44	1,145.85	2,686.77	4,158.32
	Total income	77,678.85	69,027.78	63,867.21	244,723.16	280,646.05
2	Expenses
	(a) Cost of materials consumed	34,211.38	29,296.75	28,581.24	93,820.92	102,856.73
	(b) Purchases of stock-in-trade	17,594.99	12,082.13	13,740.11	53,534.70	59,157.11
	(c) Changes in inventories of finished goods, stock-in-trade	(3,030.45)	(169.91)	(4,242.13)	2,086.59	(822.45)
	and work-in-progress
	(d) Employee benefits expense	8,633.04	9,360.99	7,195.54	33,677.10	29,782.15
	(e) Finance costs	29.86	85.91	89.18	243.22	361.11
	(f) Depreciation and amortisation expense	1,383.44	1,519.97	1,534.73	5,967.54	5,737.70
	(g) Other expenses (refer note 5)	9,955.20	9,718.07	18,581.39	35,149.01	51,533.39
	Total expenses	68,777.46	61,893.91	65,480.06	224,479.08	248,605.74
3	Profit / (loss) before exceptional items and tax (1-2)	8,901.39	7,133.87	(1,612.85)	20,244.08	32,040.31
4	Exceptional items	-	-	-	-	-
5	Profit / (loss) before tax (3+4)	8,901.39	7,133.87	(1,612.85)	20,244.08	32,040.31
6	Tax expense:
	(a) Current tax	2,519.01	2,348.78	420.64	6,123.41	9,335.29
	(b) Deferred tax	(186.30)	(482.42)	549.12	(809.42)	807.77
	Total	2,332.71	1,866.36	969.76	5,313.99	10,143.06
7	Net profit / (loss) for the period (5-6)	6,568.68	5,267.51	(2,582.61)	14,930.09	21,897.25
8	Other comprehensive income (net of tax) -
	Items that will not be reclassified subsequently to statement of
	profit or loss
	(a) Remeasurements of net defined benefit (liability)/ asset	33.76	(125.02)	(485.36)	(341.30)	(500.09)
	(b) Income tax relating to items not to be reclassified	(8.51)	31.47	122.15	85.90	125.86
	subsequently to statement of profit or loss
	Total other comprehensive income (net of tax)	25.25	**(93.55) **	**(363.21) **	(255.40)	(374.23)
9	Total comprehensive income / (loss) (7+8)	6,593.93	5,173.96	**(2,945.82) **	14,674.69	21,523.02
10	Paid up equity share capital (face value of Rs.10 each)	1,126.51	1,126.51	1,126.51	1,126.51	1,126.51
11	Other equity				221,024.23	206,349.54
12	Earnings per share (in Rs.)
	(face value of Rs. 10 each) (not annualised for the quarters)
	(a) Basic	58.31	46.75	(22.93)	132.53	194.38
	(b) Diluted	58.31	46.75	(22.93)	132.53	194.38

Notes:

• 1 The above standalone financial results of 3M India Limited have been reviewed by the Audit Committee and approved by the Board of Directors on 28 May 2021.

2 The annual results of the Company have been audited by the statutory auditors and they have issued an unqualified audit report on the same. The audit report of the Statutory auditors is being filed with the National Stock Exchange of India Limited ('NSE') and BSE Limited ('BSE') and is also available on the Company's website. The figures for the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between the audited figures in respect of the full financial years and the published unaudited year to date figures up to the third quarter of the respective financial years. Also the figures upto the end of the third quarter were only reviewed and not subjected to audit.

• 3 The financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules 2015, as amended and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

4 In accordance with Ind AS 108, Operating segments, segment information has been provided in the unaudited consolidated financial results of the Company and therefore no separate disclosure on segment information is given in these unaudited standalone financial results.

• 5 The Company has considered internal and external sources of information as of the date of approval of the financial results in determining the possible impact, if any, of the resurgence of the COVID-19 pandemic on the carrying amounts of its trade receivables, inventories, financial and non-financial assets. The Company has used the principle of prudence in applying judgements and making estimates. Based on this evaluation, the Company does not expect any material impact on its financial results. However, the eventual outcome of impact of Covid-19 pandemic may be different from those estimated as on the date of approval of these financial results.

During the year ended 31 March 2020, based on the assessment the Company recorded an impairment of Rs. 7,990 lakhs, given the impact of the COVID -19 pandemic on the current and future operations of the subsidiary, which is included in other expenses.

6 The Board of Directors of the Company and 3M Electro & Communication India Private Limited (3M E&C), at their Meetings held on 13 November 2019 had approved the Scheme of Amalgamation (‘the Scheme’) of 3M E&C (‘Transferor Company’) with the Company under Section 233 of the Companies Act, 2013. The Appointed Date fixed under the Scheme was 1 April 2019. The Company sought approvals from Members and Creditors under Section 233(1)(b) of the Companies Act, 2013 by Special Resolutions through Postal Ballot notice dated 21 January 2020. The results of the voting by Postal Ballot were announced on 28 February 2020. Based on the opinion from the counsel, the Company has now made an application with the jurisdictional Regional Director for the approval of the Scheme. Additional information sought by the Regional Director has been submitted and the Company awaits further information from the Regional Director. Accordingly, no effect has been given to the aforesaid scheme as at 31 March 2021.

? 3M ? %C5#

Registerd Office: Plot No. 48-51, Electronics City, Hosur Road, Bengaluru - 560100 www.3m.com/in

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001

India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED REGD OFFICE : 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100 STANDALONE BALANCE SHEET

STANDALONE BALANCE SHEET
		Rs. in Lakhs
Particulars	As at	As at
	31 March 2021	31 March 2020
	(Audited)	(Audited)
ASSETS
Non-current assets	22,380.14	24,277.28
(a) Property, plant and equipment	2,349.66	663.79
(b) Capital work - in - progress	2,408.94	4,352.45
(c) Right - of - use assets	34.12	34.77
(d) Intangible assets
(e) Financial assets
(i) Investments	50,480.00	50,480.00
(ii) Loans receivable	840.02	1,257.29
(f) Deferred tax assets (net)	2,560.83	1,665.51
(g) Income tax assets (net)	10,754.96	9,027.15
(h) Other non - current assets	5,800.13	4,801.52
Total non - current assets	97,608.80	96,559.76
Current assets
(a) Inventories	43,027.05	41,104.12
(b) Financial assets
(i) Trade receivables	46,050.86	50,658.82
(ii) Cash and cash equivalents	93,715.39	66,576.71
(iii) Loans receivable	673.37	136.36
(iv) Other financial assets	2,085.44	2,594.29
(c) Other current assets	8,501.86	7,694.21
Total current assets	194,053.97	168,764.51
Total assets	291,662.77	265,324.27
EQUITY AND LIABILITIES
Equity
(a) Equity share capital	1,126.51	1,126.51
(b) Other equity	221,024.23	206,349.54
Total equity	222,150.74	207,476.05
Liabilities
Non- current liabilities
(a) Financial liabilities
(i) Lease liabilities	1,030.90	1,749.30
(b) Provisions	3,831.83	2,888.00
Total non - current liabilities	4,862.73	4,637.30
Current liabilities
(a) Financial liabilities
(i) Lease liabilities	1,256.62	2,427.78
(ii) Trade payables
- Total outstanding dues of micro and small entreprises	1,937.18	1,362.44
- Total outstanding dues of creditors other than micro and small entreprises	36,800.09	27,681.56
(iii) Other financial liabilities	14,853.65	10,344.67
(b) Other current liabilities	2,777.63	3,134.86
(c) Provisions	4,744.63	5,980.11
(d) Income tax liabilities (net)	2,279.50	2,279.50
Total current liabilities	64,649.30	53,210.92
Total equity and liabilities	291,662.77	265,324.27
	By Order of the Board
	For 3M India Limited
Place: Bengaluru	Ramesh	Ramadurai
Date:28 May 2021	Managing Director

Registerd Office: Plot No. 48-51, Electronics City, Hosur Road, Bengaluru - 560001 www.3m.com/in

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001 India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100 STANDALONE STATEMENT OF CASH FLOW

STANDALONE STATEMENT OF CASH	FLOW
		Rs. in lakhs
	For the year ended	For the year ended
Particulars	31 March 2021	31 March 2020
	(Audited)	(Audited)
Cash flow from operating activities
Profit before tax	20,244.08	32,040.31
Adjustments for:
Depreciation and amortisation expense	5,967.54	5,737.70
Provision for impairment of investment in subsidiary company	-	7,990.00
Provision for doubtful debts (net)	527.67	1,399.17
Liabilities no longer required written back (net)	(75.24)	(1,167.74)
Unrealised exchange loss on foreign currency transactions (net)	66.47	97.07
(Gain)/ loss on disposal of property, plant and equipment	(159.75)	2.38
Interest income	(1,976.53)	(2,534.76)
Finance costs	243.22	361.11
	24,837.46	43,925.24
Movements in working capital:
Increase / (decrease) in trade payables	9,675.33	(3,210.46)
Increase / (decrease) in provisions	(632.65)	21.42
Increase / (decrease) in other financial liabilities and other liabilities	3,941.18	(5,272.58)
Decrease in trade receivables	4,106.70	2,565.92
Increase in inventories	(1,922.93)	(3,185.93)
Increase in loans, other financial assets, other current and non current assets	(948.45)	(659.57)
Cash generated from operations activities	39,056.64	34,184.04
Income tax paid (net of refund)	(7,851.22)	(12,350.91)
Net cash from operating activities (A)	31,205.42	21,833.13
Cash flow from investing activities
Purchase of property, plant and equipment and intangible assets	(4,041.72)	(1,983.52)
Proceeds from sale of property, plant and equipment	230.08	8.24
Interest received	2,221.40	2,117.06
Net cash (used in) / generated from investing activities (B)	(1,590.24)	141.78
Cash flow from financing activities
Payment of lease liability (including interest thereon)	(2,476.50)	(2,437.24)
Net cash used in financing activities (C)	(2,476.50)	(2,437.24)
Net increase in cash and cash equivalents (A+B+C)	27,138.68	19,537.67
Cash and cash equivalents at the beginning of the year	66,576.71	47,039.04
Cash and cash equivalents at the end of the year	93,715.39	66,576.71
Cash and cash equivalents comprise of :
Cash on hand	0.25	0.09
Balances with banks:
- in current accounts	4,715.14	11,576.62
- deposits accounts (original maturity of less than three months)	89,000.00	55,000.00
	93,715.39	66,576.71

Registerd Office: Plot No. 48-51, Electronics City, Hosur Road, Bengaluru - 560001 www.3m.com/in

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001

India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100 STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2021

					Rs. in Lakhs (except	in respect of item 12)
Sl	Particulars	3 months ended	3 months ended	3 months ended	12 months ended	12 months ended
No		31 March 2021	31 December 2020	31 March 2020	31 March 2021	31 March 2020
		(refer note 3)	(Unaudited)	(refer note 3)	(Audited)	(Audited)
**1 **	Income
	(a) Revenue from operations	82,720.66	74,144.06	67,315.22	260,483.14	298,655.09
	(b) Other income	716.85	568.85	1,243.95	2,473.73	4,589.56
	Total income	83,437.51	74,712.91	68,559.17	262,956.87	303,244.65
**2 **	Expenses
	(a) Cost of materials consumed	35,961.67	30,827.82	29,190.28	99,441.00	110,025.50
	(b) Purchases of stock-in-trade	19,122.89	13,625.40	15,632.01	58,365.23	64,002.11
	(c) Changes in inventories of finished goods, stock-in-trade	(2,982.60)	(135.06)	(4,191.79)	2,101.44	(399.03)
	and work-in-progress
	(d) Employee benefits expense	9,543.65	10,244.39	7,808.55	36,990.48	32,858.51
	(e) Finance costs	30.22	86.25	89.79	245.41	366.21
	(f) Depreciation and amortisation expense	1,441.73	1,574.33	1,589.80	6,184.59	5,933.25
	(g) Other expenses	10,831.60	10,416.10	11,243.49	37,636.56	47,201.52
	Total expenses	73,949.16	66,639.23	61,362.13	240,964.71	259,988.07
**3 **	Profit before exceptional items and tax (1-2)	9,488.35	8,073.68	7,197.04	21,992.16	43,256.58
4	Exceptional items	-	-	-	-	-
**5 **	Profit before tax (3+4)	9,488.35	8,073.68	7,197.04	21,992.16	43,256.58
**6 **	Tax expense:
	(a) Current tax	2,573.47	2,614.51	541.62	6,499.48	10,065.21
	(b) Deferred tax	(132.08)	(479.54)	644.04	(744.97)	974.45
	Total	2,441.39	2,134.97	1,185.66	5,754.51	11,039.66
**7 **	Profit after tax (5-6)	7,046.96	5,938.71	6,011.38	16,237.65	32,216.92
**8 **	Other comprehensive income (net of tax)
	Items that will not be reclassified subsequently to statement of
	profit or loss
	(a) Remeasurements of net defined benefit (liability)/ asset	23.93	(138.05)	(543.72)	(390.22)	(552.20)
	(b) Income tax relating to items not to be reclassified subsequently	(6.04)	34.75	136.84	98.21	138.98
	to statement of profit or loss
	Total other comprehensive income (net of tax)*	17.89	**(103.30) **	**(406.88) **	**(292.01) **	(413.22)
**9 **	Total comprehensive income (7+8)*	7,064.85	5,835.41	5,604.50	15,945.64	31,803.70
10	Paid up equity share capital (face value of Rs.10 each)	1,126.51	1,126.51	1,126.51	1,126.51	1,126.51
11	Other equity				189,906.40	173,960.76
12	Earnings per share (in Rs.)
	(face value of Rs. 10 each) (not annualised for the quarters)
	(a) Basic	62.56	52.72	53.36	144.14	285.99
	(b) Diluted	62.56	52.72	53.36	144.14	285.99

• Fully attributable to the owners of the Company

Notes:

1 The above consolidated financial results of 3M India Limited and its subsidiary, 3M Electro & Communication India Private Limited (hereafter refer to as the 'Group') have been reviewed by the Audit Committee and approved by the Board of Directors on 28 May 2021.

• 2 The consolidated financial results of the Group have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standard) Rules 2015, as amended and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

• 3 The annual results of the Group have been audited by the statutory auditors and they have issued an unqualified audit report on the same. The audit report of the Statutory auditors is being filed with the National Stock Exchange of India Limited ('NSE') and BSE Limited ('BSE') and is also available on the Company's website. The figures for the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between the audited figures in respect of the full financial years and the published unaudited year to date figures up to the third quarter of the respective financial years. Also the figures upto the end of the third quarter were only reviewed and not subjected to audit.

• 4 The Group has considered internal and external sources of information as of the date of approval of the financial results in determining the possible impact, if any, of the resurgence of the COVID-19 pandemic on the carrying amounts of its trade receivables, inventories, financial and non-financial assets. The Group has used the principle of prudence in applying judgements and making estimates. Based on this evaluation, the Group does not expect any material impact on its financial results. However, the eventual outcome of impact of Covid19 pandemic may be different from those estimated as on the date of approval of these financial results.

5 The Board of Directors of the Company and 3M Electro & Communication India Private Limited (3M E&C), at their Meetings held on 13 November 2019 had approved the Scheme of Amalgamation (‘the Scheme’) of 3M E&C (‘Transferor Company’) with the Company under Section 233 of the Companies Act, 2013. The Appointed Date fixed under the Scheme was 1 April 2019. The Company sought approvals from Members and Creditors under Section 233(1)(b) of the Companies Act, 2013 by Special Resolutions through Postal Ballot notice dated 21 January 2020. The results of the voting by Postal Ballot were announced on 28 February 2020. Based on the opinion from the counsel, the Company has now made an application with the jurisdictional Regional Director for the approval of the Scheme. Additional information sought by the Regional Director has been submitted and the Company awaits further information from the Regional Director. Accordingly, no effect has been given to the aforesaid scheme as at 31 March 2021.

6	Additional information on standalone financial results	Additional information on standalone financial results
	Particulars	3 months ended	3 months ended	3 months ended	12 months ended	12 months ended
		31 March 2021	31 December 2020	31 March 2020	31 March 2021	31 March 2020
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)	(Audited)
	a) Revenue from operations	76,923.37	68,378.34	62,721.36	242,036.39	276,487.73
	b) Profit / (loss) before tax	8,901.39	7,133.87	(1,612.85)	20,244.08	32,040.31
	c) Profit / (loss) after tax	6,568.68	5,267.51	(2,582.61)	14,930.09	21,897.25
	d) Total comprehensive income / (loss)	6,593.93	5,173.96	(2,945.82)	14,674.69	21,523.02
		Registerd Office: Plot No. 48-51, Electronics	City, Hosur Road, Bengaluru - 560100
		www.3m.com/in

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001 India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED REGD OFFICE : 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100 CONSOLIDATED BALANCE SHEET

Rs. in Lakhs

Particulars	As at	As at
	31 March 2021	31 March 2020
	(Audited)	(Audited)
ASSETS
Non-current assets
(a) Property, plant and equipment	24,154.70	26,174.38
(b) Capital work - in - progress	2,351.89	690.85
(c) Right - of - use assets	2,435.01	4,389.14
(d) Intangible assets	34.12	34.77
(e) Financial assets
(i) Loans receivable	869.85	1,289.00
(f) Deferred tax assets (net)	3,079.50	2,236.32
(g) Income tax assets (net)	11,984.40	10,135.26
(h) Other non - current assets	6,471.33	5,311.87
Total non - current assets	51,380.80	50,261.59
Current assets
(a) Inventories	45,654.77	43,865.69
(b) Financial assets
(i) Trade receivables	48,852.84	53,424.91
(ii) Cash and cash equivalents	106,242.29	78,057.16
(iii) Loans receivable	678.09	149.82
(iv) Other financial assets	2,939.83	2,766.22
(c) Other current assets	9,404.41	8,610.21
Total current assets	213,772.23	186,874.01
Total assets	265,153.03	237,135.60
EQUITY AND LIABILITIES
Equity
(a) Equity share capital	1,126.51	1,126.51
(b) Other equity	189,906.40	173,960.76
Total equity	191,032.91	175,087.27
Liabilities
Non- current liabilities
(a) Financial liabilities
(i) Lease liabilities	1,043.02	1,763.63
(b) Provisions	4,214.91	3,155.24
Total non - current liabilities	5,257.93	4,918.87
Current liabilities
(a) Financial liabilities
(i) Lease liabilities	1,269.57	2,449.21
(ii) Trade payables
- Total outstanding dues of micro and small entreprises	2,154.83	1,484.75
- Total outstanding dues of creditors other than micro and small entreprises	38,940.02	29,802.28
(iii) Other financial liabilities	16,114.41	11,348.26
(b) Other current liabilities	3,036.73	3,471.87
(c) Provisions	5,067.13	6,293.59
(d) Income tax liabilities (net)	2,279.50	2,279.50
Total current liabilities	68,862.19	57,129.46
Total equity and liabilities	265,153.03	237,135.60
	By Order of the Board
	For 3M India Limited
Place: Bengaluru	Ramesh	Ramadurai
Date:28 May 2021	Managing Director

Registerd Office: Plot No. 48-51, Electronics City, Hosur Road, Bengaluru - 560001 www.3m.com/in

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001 India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100 CONSOLIDATED STATEMENT OF CASH FLOW

		Rs. in lakhs
	For the year ended	For the year ended
Particulars	31 March 2021	31 March 2020
	(Audited)	(Audited)
Cash flow from operating activities
Profit before tax	21,992.16	43,256.58
Adjustments for:
Depreciation and amortisation expense	6,184.59	5,933.25
Provision for doubtful debts (net)	292.41	1,457.98
Liabilities no longer required written back (net)	(76.79)	(1,272.74)
Unrealised exchange loss on foreign currency transactions (net)	77.16	117.53
(Gain)/ loss on disposal of property, plant and equipment	(159.75)	2.38
Interest income	(2,237.19)	(2,861.00)
Finance costs	245.41	366.21
	26,318.00	47,000.19
Movements in working capital:
Increase / (decrease) in trade payables	10,051.79	(4,212.47)
Decrease in provisions	(556.71)	(145.89)
Increase / (decrease) in other financial liabilities and other liabilities	4,126.89	(4,968.98)
Decrease in trade receivables	4,035.03	3,783.11
Increase in inventories	(1,789.08)	(2,739.29)
Increase in loans, other financial assets, other current and non current assets	(1,729.82)	(916.33)
Cash generated from operations activities	40,456.10	37,800.34
Income tax paid (net of refund)	(8,348.62)	(13,295.67)
Net cash from operating activities (A)	32,107.48	24,504.67
Cash flow from investing activities
Purchase of property, plant and equipment and intangible assets	(4,151.66)	(2,122.98)
Proceeds from sale of property, plant and equipment	239.68	8.89
Interest received	2,493.33	2,384.50
Net cash (used in) / generated from investing activities (B)	(1,418.65)	270.41
Cash flow from financing activities
Payment of lease liability (including interest thereon)	(2,503.70)	(2,464.58)
Net cash used in financing activities (C)	(2,503.70)	(2,464.58)
Net increase in cash and cash equivalents (A+B+C)	28,185.13	22,310.50
Cash and cash equivalents at the beginning of the year	78,057.16	55,746.66
Cash and cash equivalents at the end of the year	106,242.29	78,057.16
Cash and cash equivalents comprise of:
Cash on hand	0.25	0.09
Balances with banks:
- in current accounts	6,742.04	18,057.07
- deposits accounts (original maturity of less than three months)	99,500.00	60,000.00
	106,242.29	78,057.16

Registerd Office: Plot No. 48-51, Electronics City, Hosur Road, Bengaluru - 560001 www.3m.com/in

3M INDIA LIMITED WeWork Prestige Central 3rd floor, 36 Infantry Road, Tasker Town, Bengaluru - 560001

India Tele: +91 80 2223 1414 CIN No.: L31300KA1987PLC013543

3M INDIA LIMITED

REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BANGALORE 560 100 Consolidated Segment-wise Revenue, Results, Assets and Liabilities

	Particulars	3 months ended	3 months ended	3 months ended	Year ended	Year ended
		31 March 2021	31 December 2020	31 March 2020	31 March 2021	31 March 2020
		(refer note 2)	(Unaudited)	(refer note 2)	(Audited)	(Audited)
Segment revenue
(a)	Safety & Industrial	30,877.58	28,116.53	24,831.32	101,249.64	112,621.35
(b)	Transportation & Electronics	31,305.65	27,103.46	24,834.19	89,033.53	103,091.80
(c)	Health Care	10,955.63	9,287.80	10,358.68	36,200.78	48,574.73
(d)	Consumer	9,093.15	8,800.67	6,813.56	31,286.00	31,966.12
(e)	Others	488.65	835.60	477.47	2,713.19	2,401.09
Revenue from operations		82,720.66	74,144.06	67,315.22	260,483.14	298,655.09
Segment results
(a)	Safety & Industrial	2,697.39	3,786.71	3,411.82	10,392.17	17,673.15
(b)	Transportation & Electronics	3,239.47	1,082.74	231.88	1,418.96	6,785.35
(c)	Health Care	1,125.11	1,317.53	1,212.20	3,047.14	7,416.38
(d)	Consumer	1,665.23	1,107.48	1,093.07	3,985.56	6,642.82
(e)	Others	74.52	296.62	93.91	920.01	515.53
Total		8,801.72	7,591.08	6,042.88	19,763.84	39,033.23
Less:	Finance costs	30.22	86.25	89.79	245.41	366.21
Add: Unallocable income		716.85	568.85	1,243.95	2,473.73	4,589.56
Total	profit before tax from Operations	9,488.35	8,073.68	7,197.04	21,992.16	43,256.58
Segment assets
(a)	Safety & Industrial	44,771.41	40,162.38	44,675.35	44,771.41	44,675.35
(b)	Transportation & Electronics	46,232.84	39,429.30	48,948.44	46,232.84	48,948.44
(c)	Health Care	16,369.96	14,638.01	18,464.04	16,369.96	18,464.04
(d)	Consumer	10,455.74	9,683.26	11,377.15	10,455.74	11,377.15
(e)	Unallocated	147,323.08	137,113.43	113,670.62	147,323.08	113,670.62
Total	segment assets	265,153.03	241,026.38	237,135.60	265,153.03	237,135.60
Segment liabilities
(a)	Safety & Industrial	16,686.03	12,554.79	11,651.65	16,686.03	11,651.65
(b)	Transportation & Electronics	16,049.16	10,939.55	12,698.37	16,049.16	12,698.37
(c)	Health Care	5,080.35	4,225.99	4,750.92	5,080.35	4,750.92
(d)	Consumer	3,409.86	2,551.62	2,186.09	3,409.86	2,186.09
(e)	Unallocated	32,894.72	26,786.37	30,761.30	32,894.72	30,761.30
Total	segment liabilities	74,120.12	57,058.32	62,048.33	74,120.12	62,048.33

Notes:

1. The assets and liabilities are allocable to the extent they are identifiable to the respective segments. All the others are grouped under 'Unallocated'.

2. The figures for the quarter ended 31 March 2021 and 31 March 2020 are the balancing figures between the audited figures in respect of the full financial years and the published unaudited year to date figures up to the third quarter of the respective financial years. Also the figures upto the end of the third quarter were only reviewed and not subjected to audit.

3. Segment Reporting in the consolidated financial results: Based on the "management approach" as defined in Ind AS 108 - Operating segments, the Chief Operating Decision Maker evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments. The accounting principles used in the preparation of these consolidated financial results are consistently applied to record revenue and expenditure in individual segments.

Place: Bengaluru Date: 28 May 2021

By Order of the Board For 3M India Limited Ramesh Ramadurai Managing Director

Registerd Office: Plot No. 48-51, Electronics City, Hosur Road, Bengaluru - 560100 www.3m.com/in

3M INDIA LIMITED	CIN:L31300KA1987PLC013543, Website: www.3m.com/in	Regd Office: 48-51, Electronics City, Hosur Road, Bengaluru - 560100	Extract of the Standalone and Consolidated Financial Results for the quarter and twelve months ended 31 March 2021	(Rs. in Lakhs, except per share data, unless otherwise stated)	Standalone Consolidated	Particulars 3 months ended 12 months ended 12 months ended 3 months ended 12 months ended 12 months ended	31 March 2021 31 March 2021 31 March 2020 31 March 2021 31 March 2021 31 March 2020	(Unaudited) (Audited) (Audited) (Unaudited) (Audited) (Audited)	Total income from operations (including other income) 77,678.85 244,723.16 280,646.05 83,437.51 262,956.87 303,244.65	Net Profit for the period ( before tax, Exceptional and / or Extraordinary items) 8,901.39 20,244.08 32,040.31 9,488.35 21,992.16 43,256.58	Net Profit for the period before tax ( after Exceptional and / or Extraordinary items) 8,901.39 20,244.08 32,040.31 9,488.35 21,992.16 43,256.58	Net Profit for the period after tax 6,568.68 14,930.09 21,897.25 7,046.96 16,237.65 32,216.92	Total comprehensive income for the period [Comprising Profit for the period (after tax) and	other comprehensive income (after tax)] 6,593.93 14,674.69 21,523.02 7,064.85 15,945.64 31,803.70	Equity share capital 1,126.51 1,126.51 1,126.51 1,126.51 1,126.51 1,126.51	221,024.23 206,349.54 189,906.40 173,960.76 Reserves ( excluding revaluation reserves as per Ind AS)	Earnings per share (in Rs.) (of Rs. 10/- each)	a) Basic (in Rs.) 58.31 132.53 194.38 62.56 144.14 285.99	b) Diluted (in Rs.) 58.31 132.53 194.38 62.56 144.14 285.99	Notes:	1. The above standalone and consolidated financial results of 3M India Limited and its subsidiary, 3M Electro & Communication India Private Limited (hereafter refer to as the 'Group') have been reviewed by the Audit	Committee and approved by the Board of Directors on 28 May 2021.	2. The above is an extract of the detailed format for the unaudited financial results for the quarter and audited twelve months ended 31 March 2021 filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing and	Other Disclosure Requirements) Regulations, 2015. The full format for the unaudited financial results for the quarter and audited twelve months ended 31 March 2021 are available on the Bombay Stock Exchange website	(www.bseindia.com), the National Stock Exchange website (www.nseindia.com) and on the Company's website website (https://www.3mindia.in/3M/en_IN/company-in/about-3m/financial-facts-local/).	3. The financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs pursuant to Section 133 of the Companies Act, 2013 read	with Rule 3 of the Companies (Indian Accounting Standard) Rules 2015, as amended and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.	By Order of the Board	For 3M India Limited	Place:Bengaluru	Date:28 May 2021 Ramesh Ramadurai	Managing Director

Annexure -2

B S R & Co. LLP

Chartered Accountants

Embassy Golf Links Business Park, Telephone: + 91 80 4682 3000 Pebble Beach, B Block, 3rd Floor, Fax: + 91 80 4682 3999 Off Intermediate Ring Road, Bangaluru-560 071 India

INDEPENDENT AUDITORS’ REPORT

TO THE BOARD OF DIRECTORS OF 3M India Limited

Report on the audit of the Standalone Annual Financial Results

Opinion

We have audited the accompanying standalone annual financial results of 3M India Limited (hereinafter referred to as the ‘‘Company”) for the year ended 31 March 2021, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone annual financial results:

• a. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

• b. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information for the year ended 31 March 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results section of our report. We are independent of the Company, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our opinion on the Standalone annual financial results.

Principal Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

B S R & Co. LLP

3M India Limited

Independent Auditors’ Report (continued)

Management’s and Board of Directors’ Responsibilities for the Standalone Annual Financial Results

These standalone annual financial results have been prepared on the basis of the standalone annual financial statements.

The Company’s Management and the Board of Directors are responsible for the preparation and presentation of these standalone annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone annual financial results, the Management and the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is responsible for overseeing the Company’s financial reporting process

Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

B S R & Co. LLP

3M India Limited

Independent Auditors’ Report (continued)

Auditor’s Responsibilities for the Audit of the Standalone Annual Financial Results (continued)

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the standalone annual financial results, including the disclosures, and whether the standalone annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters

The standalone annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

for B S R & Co. LLP Chartered Accountants Firm’s Registration No. 101248W/W-100022

Vikash Gupta Partner Membership Number: 064597 UDIN: 21064597AAAABT5183

Place: Bengaluru Date: 28 May 2021

B S R & Co. LLP

Chartered Accountants

Embassy Golf Links Business Park, Telephone: + 91 80 4682 3000 Pebble Beach, B Block, 3rd Floor, Fax: + 91 80 4682 3999 Off Intermediate Ring Road, Bangaluru-560 071 India

INDEPENDENT AUDITORS’ REPORT

TO THE BOARD OF DIRECTORS OF 3M India Limited

Report on the audit of the Consolidated Annual Financial Results

Opinion

We have audited the accompanying consolidated annual financial results of 3M India Limited (hereinafter referred to as the ‘‘Holding Company”) and its subsidiary (Holding Company and its subsidiary together referred to as “the Group”), for the year ended 31 March 2021, attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated annual financial results:

• a. include the annual financial results of the Company’s subsidiary – 3M Electro & Communication India Private Limited

• b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and

• c. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated net profit and other comprehensive income and other financial information of the Group for the year ended 31 March 2021.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (“SAs”) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results section of our report. We are independent of the Group, in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Principal Office:

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

B S R & Co. LLP

3M India Limited

Independent Auditors’ Report (continued)

Management’s and Board of Directors’ Responsibilities for the Consolidated Annual Financial Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company’s Management and the Board of Directors are responsible for the preparation and presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of each company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated annual financial results by the Management and the Directors of the Holding Company, as aforesaid.

In preparing the consolidated annual financial results, the Management and the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group is responsible for overseeing the financial reporting process of each company.

Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

B S R & Co. LLP

3M India Limited

Independent Auditors’ Report (continued)

Auditor’s Responsibilities for the Audit of the Consolidated Annual Financial Results (continued)

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and Board of Directors.

• Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated annual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the consolidated annual financial results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities within the Group to express an opinion on the consolidated annual financial results. We are responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which we are the independent auditors.

We communicate with those charged with governance of the Holding Company and such other entity included in the consolidated annual financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular No CIR/CFD/CMD1/44/2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

B S R & Co. LLP

3M India Limited

Independent Auditors’ Report (continued)

Other Matters

The consolidated annual financial results include the results for the quarter ended 31 March 2021 being the balancing figure between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

for B S R & Co. LLP Chartered Accountants Firm’s Registration No. 101248W/W-100022

==> picture [103 x 34] intentionally omitted <==

Place: Bengaluru Date: 28 May 2021

Vikash Gupta Partner Membership Number: 064597 UDIN: 21064597AAAABR4858

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

Annexure-3

May 28, 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: Declaration pursuant to Reg.33 (3) (d) of SEBI (LODR) Regulations, 2015 - in respect of Audit Report with unmodified opinion for the Audited Financial Results (Standalone and Consolidated) for the year ended March 31, 2021.

We hereby declare and confirm that the Statutory Auditors of the Company, Messrs. BSR & Co. LLP, Chartered Accountants, Bengaluru (ICAI Firm Registration No. 101248W/W-100022) have issued an unmodified opinion on the Audited Financial Results (Standalone and Consolidated) of the Company for the Financial Year ended March 31, 2021, which have been approved by the Board of Directors at their meeting held today i.e. May 28, 2021.

Kindly bring this to the notice of the Members of the Exchange Thanking you,

Yours faithfully, For 3M India Limited,

==> picture [90 x 43] intentionally omitted <==

Mamta Janak Gore

Whole-time Director & CFO DIN: 08792863

Annexure 4

1. Resignation of Ms. Mamta Janak Gore as Whole-time Director and Chief Financial Officer:

Sl. No.	Particulars	Details
1	Reason for change viz. appointment, resignation, removal, death or otherwise	Resignation as Whole-time Director and Chief Financial Officer of the Company with effect from the closing hours of May 31, 2021, consequent upon her taking up new role within 3M Group from June 1, 2021. Change in designation of Ms. Mamta Janak Gore from Whole time Director & CFO to Non-Executive Non-Independent Director with effect from June 1,2021.
2	Date of appointment & term of Appointment	Not Applicable
3	Briefprofile(in case of appointment);	Not Applicable
4	Disclosure of relationships between directors (in case of appointment of a director)	Not Applicable

2. Appointment of Ms. Vidya Sarathy (PAN: AAHPV7051R) as Chief Financial Officer and also as a Key Managerial Personnel.

Sl. No.	Particulars	Details
1	Reason for change viz. appointment, resignation, removal, death or otherwise	Appointment as Chief Financial Officer and also as Key Managerial Personnel.
2	Date of appointment & term of Appointment	Effective date of appointment: June 1, 2021 Ms. Vidya Sarathy will take care of all compliances related to financial matters and other related compliances, rules and regulations as may be applicable to the Company from time to time.
3	Brief profile (in case of appointment);	Ms. Vidya Sarathy, 55, has about 27 years of experience. She has extensive experience of working in senior finance positions in diversified industries. Her experiences include working with Fortune 500 multi-national corporations such as Robert Bosch Engineering & Business Solutions, Landmark Retail Group, Tata Motors, and Tata Cummins. Her experience runs across broadly in finance function, including Accounting and Controlling, Financial Planning, Treasury, M&A, Taxation and Corporate Secretarial-related compliance roles. Ms. Vidya holds a Bachelor’s Degree in Science from Madras University, and is a qualified Chartered Accountant, Company Secretary and is a Certified Management Accountant. She also holds certificate in IFRS from the Association of Chartered Certified Accountants (UK).
4	Disclosure of relationships between directors (in case of appointment of a director)	Not Applicable

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

Annexure 5 May 28, 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

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

Scrip Code - 523395

Scrip Code – 3MINDIA

Dear Sirs/ Madam,

Sub: Updates under SEBI (LODR) Regulations, 2015 – Chapter IV, Regulation 30(5)

Please find below updated information for the purpose of making disclosures to stock exchanges under the above Regulation:

Sl no.	Name & Designation	E-mail ids	Contact Nos.
1.	Mr. Ramesh Ramadurai,	rramesh1@mmm.com	080 22231414
	(Managing Director)
2.	Ms. Vidya Sarathy,	vsarathy@mmm.com	080 22231414
	(Chief Financial Officer from June 1, 2021)
3.	Mr. V. Srinivasan,	vsrinivasan@mmm.com	080 22231414
	(Company Secretary & Compliance Officer)

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

Thanking you,

Yours faithfully, For 3M India Limited, V. Srinivasan Company Secretary

Annexure 6

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

Press Release

Bengaluru, May 28, 2021

3M India Limited today had a meeting of the Board of Directors of the Company, held through Video Conference, and is pleased to announce the highlights of results for the quarter and year ended March 31[st] , 2021.

• 3M India Limited registers Topline and Bottomline growth (Standalone and Consolidated) both QoQ and QoQ(PY) basis; (Note: all figures are rounded off to nearest digit)

Standalone Results : (Rs. Crores)- QoQ

Particulars	Jan- Mar 2021	Oct- Dec 2020	GROWTH
Sales & Other OperatingIncome	769	684	+12.4%
Other Income	8	6	+33.3%
EBITDA	103	87	+18.4%
PBT	89	71	+25.4%
PAT	66	53	+24.5%

Standalone Results : (Rs. Crores)- QoQ(PY)

Particulars	Jan- Mar 2021	Jan-Mar 2020	GROWTH
Sales & Other OperatingIncome Other Income EBITDA PBT PAT	769	627	+22.6%
	8	11	(-)27.3%
	103	0	+103%
	89	-16	+656.3%
	66	-26	+353.8%

Standalone Results : (Rs. Crores)- YoY

Particulars	Apr 2020 - Mar 2021	Apr 2019- Mar 2020	GROWTH
Sales & Other OperatingIncome	2,420	2,765	(-)12.5%
Other Income	27	42	(-)35.7%
EBITDA	265	381	(-)30.4%
PBT	202	320	(-)36.9%
PAT	149	219	(-)32.0%

Consolidated Results : (Rs. Crores)- QoQ

Particulars	Jan- Mar 2021	Oct- Dec 2020	GROWTH
Sales & Other OperatingIncome	827	741	+11.6%
Other Income	7	6	+16.7%
EBITDA	110	97	+13.4%
PBT	95	81	+17.3%
PAT	70	59	+18.6%

Consolidated Results : (Rs. Crores)- QoQ(PY)

Particulars	Jan- Mar 2021	Jan-Mar 2020	GROWTH
Sales & Other OperatingIncome	827	673	+22.9%
Other Income	7	12	(-)41.7%
EBITDA	110	89	+23.6%
PBT	95	72	+31.9%
PAT	70	60	+16.7%

Consolidated Results : (Rs. Crores)- YoY

Particulars	Apr 2020 - Mar 2021	Apr 2019- Mar 2020	GROWTH
Sales & Other OperatingIncome	2,605	2,987	(-)12.8%
Other Income	25	46	(-)45.7%
EBITDA	284	496	(-)42.7%
PBT	220	433	(-)49.2%
PAT	162	322	(-)49.7%

• All segments(Standalone and Consolidated) have grown positively when compared to previous quarter(Oct-Dec 2020) and also compared with last year (Jan- Mar 2020) quarter, except Healthcare(standalone) which de-grew by 4%, when compared to JanMar 2020.

• All segments (standalone & Consolidated) de-grew on a YoY basis.

Commenting on the quarterly and yearly results, Ramesh Ramadurai, Managing Director of 3M India Limited, said “I am very proud of the dedication and focus that all of our employees and partners have shown in responding to the pandemic and in serving our customers. We delivered broad-based growth across most of our end markets in the Jan-Mar 2021 quarter, sustaining the sequential improvements since FY Q2 2020-21. Due to the strong demand rebound as well as supply chain interruptions, we experienced cost pressures in raw materials and logistics costs. Notwithstanding, our teams worked hard to ensure that we maintained our service levels to customers. During the quarter, we also announced actions to consolidate our manufacturing footprint in Pune, which will improve our operational efficiencies and customer service”.

Ramesh further added that the spike in COVID-19 cases in the second wave has interrupted the sequential growth momentum and inserted more volatility and uncertainty on the demand side. “The welfare of our employees, their families and the people around us remains paramount for us in 3M India”.

The Company has extended free vaccination to many of our employees and their dependents and will continue to implement the program across India based on the vaccine availability schedule. In addition, the Company is continues to collaborate with external partners to invest in health infrastructure through its CSR programs.

About 3M in India,

3M India Limited, an Indian Subsidiary of US based 3M Company, was established in 1988 and has its headquarters in Bengaluru with branch offices at Mumbai, Gurgaon, Pune, Kolkata and Chennai. 3M leverages its global innovation expertise to develop homegrown solutions that addresses unique needs of diverse customers in India. 3M has invested in Innovation centers at Bengaluru and Gurgaon to boost local product development. Its manufacturing footprint is spread across Bengaluru, Pune and Ahmedabad. From products that improve manufacturing efficiency and impact improved healthcare delivery to safety solutions that help increase road visibility, everyday kitchen aids and car care products, today, 3M science is improving the lives of millions of Indians.

Website: www.3mindia.in

Tw handle: @3MIndialimited