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3M India Ltd. Interim / Quarterly Report 2020
61423_rns_2020-02-11_37ceb632-0393-4162-990a-ab8d667bd335.pdf
Interim / Quarterly Report
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3M 3M India Limited
CIN: L31300KA1987PLC013543 Concorde Block, UB City 24, Vittal Mallya Road, Bangalore - 560 001 Phone: 080-45594366 Fax: 080-2223 1450 Website: www.3m.com/in E-Mail: [email protected]
February 11, 2020
The Corporate Relationship Department Bombay Stock Exchange Limited, 1st Floor,New Trading Ring,Rotunda Building P.J. Towers,Dalai 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 Sirs/ Madam,
Sub:Outcome of the Board Meeting
Ref: Reg. 30(2) and Reg.33 of SEBI (LODR) Regulations,2015
1. Announcement of unaudited financial results (standalone & consolidated) for the quarter and nine months ended December 31r 2019.
This is to inform you that the unaudited financial results (standalone &. consolidated) for the quarter and nine months ended December 31, 2019 was approved and taken on record by the Board of Directors at their meeting held on February 11,2020.The same was signed by Mr. Ramesh Ramadurai, Managing Director of the Company. We enclose unaudited financial results (standalone & consolidated) for the quarter and nine months ended December 31, 2019. We are arranging publication of the results in the newspapers and in the website of the Company as required under Reg. 33 read with 47 of SEBI (LODR) Regulations,2015.
2. Re-appointment of Bharat D Shah (holding D1N:00136969) as Non- Executive Independent Director for a second term.
The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee and on the basis of the Performance Evaluation Independent Directors has decided to re-appoint Mr. Bharat D Shah as Non-Executive Independent Director of the Company for a second term of 5 continuous years from March 27, 2020 to March 26, 2025 subject to the approval of the members by way of Special Resolution to be obtained through Postal Ballot including for continuation of his directorship,as he will
Regd. Office & Factory: Plot Nos. 48-51, Electronics City, Hosur Road, Bangalore - 560100
CIN: L31300KA1987PLC013543 Concorde Block,UB City 24,Vittal Mallya Road, Bangalore - 560 001 Phone: 080-45594366 Fax: 080-22231450 Website: www.3m.com/in E-Mail: [email protected] -2-
attain the age of 75 years on February 12, 2022 during the above term of his re appointment He will continue to be the Chairman of the Board from March 27,2020 also.
We hereby affirm that the Independent Director who has been re-appointed is not debarred from holding the office of Director by virtue of any SEBI order or any such authority and is not related to any other Directors of the Company and does not hold any shares in the Company. A brief profile of Mr.Shah is enclosed below as Annexure -1.
3. The Postal Ballot Notice along with the Postal Ballot Form will be sent to the Members of the Company whose names appear in the Register of members / List of Beneficial owners as on February 7, 2020, being the cut-off date for sending Postal Ballot Notice to the Members who are entitled for voting by Postal Ballot/e-voting.
We give below the calendar of main events for the Postal Ballot.
- 1. Cutoff date / Benpos date for sending Notice to Members Friday, February 7\ 2020.
- 2. Voting period starts on Monday, February 24,2020.
- 3. Voting period ends on Tuesday, March 24,2020.
- 4. Scrutinized Report and date of declaration of results of the Postal Ballot-Thursday, March 26,2020.
The Meeting commenced at *3 ^l o o p.m. and concluded at p.m.
Kindly bring this to the notice of the members of the Exchange.
Thanking you,
Yours faithfully, For 3M Indie Limited, :0 \j - ' »
(V.Srinivasan) Company Secretary
Enel:as above
Regd. Office & Factory:Plot Nos. 48-51, Electronics City, Hosur Road,Bangalore - 560100
3« 3M India Limited
CIN: L31300KA1987PLC013543 Concorde Block, UB City 24,Vittal Mallya Road, Bangalore - 560 001 Phone: 080*45594366 Fax: 080*22231450 Website: www.3m.com/in E-Mail: [email protected]
Annexure-1:
Mr. Bharat D Shah**.**Independent Director (holding DIN- 00136969):
Mr. Bharat D Shah, 72 years, was duly appointed as an Independent Director of the Company for a period of Five (5) years from March 27, 2015 to March 26, 2020.
He has rich experience in the financial services sector and has expertise in the fields of banking, finance, real estate and securities market. Mr. Bharat Shah has been with HDFC Bank since its inception and has played a key role in the formation of the bank. He joined HDFC Bank as an Executive Director in December 1994.
Presently, he is the Chairman of HDFC Securities Limited, 3M India Limited and Exide Industries Limited. Besides, he is also on the Boards of various prominent companies including Strides Pharma Science Limited, Tata Sky Limited, Digikredit Finance Private Limited, Mahindra Lifespace Developers Limited, HDFC ERGO Health Insurance Company Limited and Spandana Sphoorty Financial Limited. He holds a bachelor's degree in Science from University of Mumbai and a Diploma in Applied Chemistry from Borough Polytechnic, London. He was appointed as Chairman of the Board with effect from May 27, 2016.
Regd. Office & Factory: Plot Nos. 48-51,ElectronicsCity,Hosur Road, Bangalore -560100
B S R & Co. LLP
Chartered Accountants
Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor Off Intermediate Ring Road Bengaluru 560 071 India
Telephone +91 80 4682 3000 Fax +91 80 4682 3999
Limited review report on unaudited quarterly standalone financial results and standalone year-to-date results of 3M India Limited under Regulation 33 of the SEBI (Listing obligation and disclosure requirements) Regulations, 2015
To the Board of Directors of 3M India Limited
- 1. We have reviewed the accompanying Statement of unaudited standalone financial results of 3M India Limited ('the Company') for the quarter ended 31 December 2019 and year to date results for the period from 1st April 2019 to 31 December 2019 ('the Statement').
- 2. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
- 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
- 4. Based on our review conducted as above, nothing has come to our attention that causes usto believe thatthe accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in tenns of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
/orBSR & Co. LLP Chartered Accountants Firm's Registration No.l 01248W/W-f 00022
Vikash Gupta Partner Membership Number: 064597 UDINNo. : 20064597AAAAAV3329
Place: Bangalore Date: 11 February 2020
B S R &Co. (a partnership firm with Registration No,BAB1223) convertedinto B S R &Co,LLP (a Limited Liability Partnership with LLP Registration No.AAB-8181) with effect from October 14,2013
Registered Office: 6th Floor, Lodha Excelus Apollo Milb Compound N M Joahi Marg, Mahalakshmi Mumbai 400 011
B S R & Co. LLP
Chartered Accountants
Embassy Golf Links Business Park Pebble Beach, B Block. 3rd Floor Off Intermediate Ring Road Bengaluru 560 071 India
Limited Review Report on unaudited quarterly consolidated financial results and consolidated year-todate results of 3M India Limited under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
To the Board of Directors of 3M India Limited
- 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of 3M India Limited ("the Parent") and its subsidiary (the Parent and itssubsidiary together referred to as "the Group") for the quarter ended 31 December 2019 and year to date results for the period from 1 April 2019 to 31 December 2019 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"). the Statement based on our review. Telephone +91 80 4682 3000 Fax +91 80 4682 3999
- 2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting'("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility isto express a conclusion on
- 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410"Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
- 4. The Statement includes the results of the 3M India Limited and its subsidiary 3M Electro and Communication India Private Limited.
- 5. Based on our review conducted and procedures performed asstated in paragraph 3 above, nothing has come to our attention that causes usto believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
for B S R & Co. LLP Chartered Accountants Firm's Registration No.101248W/W-100022
Vikash 6upta Partner Membership Number: 064597 UDIN No.: 20064597AAAAAU6321
Place:Bangalore Date: 11 February 2020
B S R & Co. (a partnership firm with Registration No. BAB1223J converted into B S R St Co. LLP (a Limited Liability Partnership with LLP Registration No.AAB'8181) with effect from October 14.2013
Registered Office: 5th ROOT. Ladha Excelus Apollo Mills Compound N M Joshi Marg, Mahalakshmi Mumbai 400 011
No
2
4
6
8
(19.63)
(12.77) 32,286.31 1,126.51 184,826.52
286.72 286.72
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 NINE MONTHS ENDED DECEMBER 2019 Rs. in Lakhs (except in respect of item 12) SI Particulars 9 months ended 31 December 2018 (Unaudited) 3 months ended 31 December 2019 (Unaudited) 3 months ended 30 September 2019 (Unaudited) 3 months ended 31 December 2018 (Unaudited) 9 months ended 31 December 2019 (Unaudited) 12 months ended 31 March 2019 (Audited) 1 Income (a) Revenue from operations (b) Other income Total Income Expenses (a) Cost of materials consumed (b) Purchases of stock-in-trade (c) Changes in inventories of finished goods, stock-in-trade and work-in-progress (d) Employee benefits expense (e) Finance costs (f) Depreciation and amortisation expense (g) Other expenses Total expenses Profit before exceptional items and tax (1-2) Exceptional items Profit before tax (3+4) Tax expense: (a) Current tax (b) Deferred tax Total Net profit for the period (5-6) Other comprehensive income (net of tax) - Items that will not be reclassified subsequently to statement of profit orloss (a) Remeasuremants of net defined benefit (liability)/ asset (b) income tax relating to items not to be reclassified 69,408.78 1,345.82 70,764.60 70,157.81 976.62 71,134.43 73,600.36 1,001.64 74,602.00 213,766.37 3,012.47 216,778,84 280,875.97 3,283.16 284,159.13 211,952.77 3,080 30 215,033.07 28,037.97 11,995.93 1,622.75 24,636.31 16,526.86 (506.39) 29,598.19 10,259.71 (994.10) 74,275.49 45,417.00 3,419.68 59,948.46 51,268.56 (632.87) 86,741.34 63,315.23 (1,387.67) 7,437.35 110.86 1,424.14 11,044.72 61,673.72 9,080.88 7,050.13 76.85 1,332.24 10.559.47 59.875.47 11,458.96 22,21404 47.64 3,153.66 38,208.02 174,207.61 40,825.56 6,443.65 13.74 1,029.69 12,604.15 58,956.03 15,646.97 22,586.61 271.93 4,202 97 32,952.00 183,125.68 33,653.16 30,106.15 109.18 4,187.67 51,341.30 234,413.20 49,745.93 3 5 9,080.88 11,458.96 15,646.97 33,653.16 40,825.56 49,745,93 2,343.87 (37.83) 2,306.04 6,774.84 5,537.31 (29.43) 5,507.88 10,139.09 8,914.65 258.65 9,173.30 24,479.86 14,516.79 (175.36) 14,341.43 26,484.13 18,652.61 (1,205.76) 17,446.85 32,299,08 1,791.78 452.42 2,244.20 7 9,214.76 (491) (4.91) (10.03) (14.73) (30.09) 10.53 1.24 0.76 3.51 3.71 6.86
subsequently to statement of profit or loss Total other comprehensive income (net of tax) Total comprehensive Income (7+8) Paid up equity share capital (face value of Rs.10 each) Other equity Earnings per share (in Rs.) (face value of Rs. 10 each) (not annualised) (a) Basic (b) Diluted (19.56) 26,464.67 1,12651 (3.67) 6,771.17 1,126.51 (6.62) 10,132.57 1,126.51 (11.02) 24,468.84 1,126 51 (4.15) 9,210.61 1,126.51 9 10 11 12 235.10 235.10 60.14 60.14 81.80 81.80 90.00 90.00 217.31 217.31
Notes:
The above standalone financial results of 3M India Limited have been reviewed by the Audit Committee and approved by the Board of Directors on 11 February 2020. The statutory auditors have earned out limited review of the unaudited financial results for the quarter and nine months ended 31 December 2019 and have issued an unmodified review report,
The financial resuits 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 Obfigations and Disclosure Requirements) Regulations, 2015. 12
Effective 1 April 2019, the Company has adopted Ind AS 116 "Leases" on all lease contracts existing on 1 April 2019 using the modified retrospective method on the date of initial application. Accordingly, comparatives for the year ended 31 March 2019 have not been retrospectively adjusted. The effect of this adoption did not have a material Impact on the results for the quarter and nine months ended 31 December 2019. 3
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. 4
During the quarter ended 30 September 2019, the Company elected to exercise the option permitted under section 115BBA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the Company has recognised provision for income tax for the quarters enaed 31 December 2019, 30 September 2019 and for the nine months ended 31 December 2019 and computed deferred tax based on the rate prescribed in the said section. The full impact of this change has been recognised in the statement of profit and loss for the quarter ended 30 September 2019. 5
The Board of Directors of the Company, at its meeting held on 13 November 2019 has, subject to the approval of ihe shareholders and creditors of the Company and subject to the sanction of the jurisdictional Regional Director or such other competent authority, approved the Scheme of Amalgamation (the Scheme) between the Company and Its wholly owned subsidiary (3M Electro & Communication India Private Limited) with effect from 1 April 2019 (Appointed date). The Company and its subsidiary are presently in the process of obtaining the requisite approval of the shareholders and creditors of the respective companies. Accordingly, no effect has been given to the aforesaid scheme as at 31 December 2019, 6
| GDOFREFICE:EDT OF CSTATEMENONSOLIDATFIN | 48-51,ELECTRONICTSCIAL RANESUL | URS CITYOS,HR THEFOQUARTE | RUROAD, BENGALUR ANDE MNINON | 0 10056EDS ETHNDCEDE | ERMB1920 | ||
|---|---|---|---|---|---|---|---|
| (exinct oceres | emd 1f it14 | ||||||
| SINo | Particulars | 3 mdthsdeonen31Dembceer2019 | 3 mthsddeonen30Sembpteer1920 | 3 mthsddeonenDe31mbceer1820 | Rs, inLakhs9 mthsddeonen31Dembceer2019 | ptpe9 mdthsdeonen31Dembceer1820 | ,156)an12ndednths emo31March1920 |
| (Uudited)na | (Uudited)na | (Undited)au | (Uudited)na | (Uudited)na | (Audited) | ||
| A1 | Coingntitionsnuopera | ||||||
| eIncomrome f(a)Retionsvenuera | 8 | ||||||
| op(b)Other inmeco | 74,537.61,442.90 | 76,352.771,067.26 | 79,154.941,258.98 | 23.871,339.6145 | 22.497,397.31 | 301,682.24 | |
| Totalinceom | 75,980.48 | 77,420.03 | 80,413.92 | 3,3234,685.48 | 3,436.80230,833 | 3,683.12305,365.36 | |
| 2 | Exespens | ||||||
| (a)Cof mrials cst oatedonsume | ,20302.83 | 726,085.4 | 31.939.21 | 802,835.2 | 6,755.664 | 393,854.2 | |
| (b)Purchs of stock-in-tradease(c)Chs ininviestoroffinishedodangestock-in-deentra | 12,858.6050.73 | 218,025.8 | 11.2221.2 | 48,3700.1 | 55,374.29 | 68,516.82 | |
| gos,d w-inorks-progresan | 1,5 | (136.63) | (1.400 32) | 3,792.76 | 0 6(1,232) | (2,353.52) | |
| (d)Emploe befitses eyeenxpen | 97878,1 | .137,842 | 7.125.71 | 256,049.9 | 6 0824,34 | 0 833,028 | |
| ce(e)Fintsancos | 112.43 | .3679 | 14.49 | 2276.4 | .8548 | .26112 | |
| (f)Dedation andortisation esepreamxpen | 1,474.92 | .971,377 | 1,0.1977 | 4,343.45 | 3,297.76 | 4,375.63 | |
| (g)Othesesr expenTotales | 11,942.56 | 111,581.8 | 519.613,0 | 353,958.0 | 40,867.15 | 55,085.17 | |
| 3 | expensmfroProfitntiingtionsbeforecoptialnuoperaexceon | 66,339.94.549,640 | 64,855.930 | 63,497.10 | .94198,625 | 7,459.1718 | 252,611.47 |
| itemsdtax (1-2)an | 12,564.1 | 162,916.8 | 436,059.5 | 343,374.6 | 952,753.8 | ||
| 4 | Exptiol itemscena | ||||||
| 5 | mntiingProfitfrotionsbefore tconu(3+4)operaax | 9,640.54 | 012,564.1 | 216,916.8 | 436,059.5 | 343,374.6 | 52,753.89 |
| 6 | Tax expense: | ||||||
| Cu(a)nt taxrre | 2,451.89 | .902,065 | .615,942 | .599,523 | 315,375.6 | 319,620.6 | |
| Deferred(b)taxTotal | (3.29) | 4947.4 | (44.95) | 1330.4 | (283.79) | (1,181.24) | |
| 7 | mProfitafttaxfrontiingtions(5-6)erconuera | 2,448.6091.94 | 63.342,5 | 5,897.66 | 9,854.00 | 415,091.8 | 18,4399.3 |
| B | opDisntiedtioconuoperans: | 7,1 | 610,000.7 | 11,019.16 | 26,2045.5 | 928,282.7 | ,314.5034 |
| romProfit fdisntind oions (a)coueratpe | .0791 | ||||||
| in on dGaispl ofdisntind oionb)osarats (couepe | .663,171 | 91.07.663,171 | |||||
| seTax eofdisntind oxpenration( c)couepes. | 4959.2 | 959.24 | |||||
| B | mdisProfitaftertaxfrontiedtio((a)+(b)( c))conunsopera | .492,303 | 2,3.4903 | ||||
| 910 | Nerofit fthed (t prio7+8)orpeOt | 7,191.94 | 610,000.7 | 11,019.16 | 264,205.5 | 830,586.2 | ,617.9936 |
| iveheheInce(t of tax)r comprensomnetha- Itemst willt belassifiedbstonontl | |||||||
| yrecsuequestatemt of profit or lossen | |||||||
| (a)Rentsoft defid bmeefit(liability)/asuremeneneenetass | (2.83) | (2.83) | (7.79) | (8.48) | (23.36) | (9.85) | |
| (b)ince trelatingtot tobeaxiteedommslassifinorec | 20.7 | 20.3 | 2.72 | 2.14 | 98.1 | 3.48 | |
| subntlytostatemt of profit or losequessen | |||||||
| 11 | Totalrehe iothsive (cof tax)ermpent oncomneTotalrehsive i | (2.11) | (2.)51 | (5.07) | (6.)34 | (15.17) | (6.37) |
| 12 | e (comp9+10)enncomPaid up eityshareital(facelueRs.10ch)quofcapvaea | 7,189.83 | .259,998 | 11,014.09 | 026,199.2 | 301.11,57 | ,612361.6 |
| 1,126.51 | 1,126.51 | 1,126.51 | 1,1.5126 | 1,126.51 | 1,126.51 | ||
| 13 | Othityer equ | 142,157.06 | |||||
| 14 | Earningshare(inRsg oper s.)(fortinuinionrats)conpe | ||||||
| ce(falue0 e) (nofRs.1achvaotalised)annu | |||||||
| Ba(a)sicd(b)Dilute | .8463 | .7888 | 97.82 | 3232.6 | 7251.0 | 304.61 | |
| 15 | Earningsre(inhaRs.) (fordisntinper sd os)rationcouepe | .8463 | 8878 | 97.82 | 3232.6 | 251.07 | 304.61 |
| (facelueofRs. 10 e) (nvaachalised)otannu | |||||||
| Ba(a)sic | 20.45 | 2045 | |||||
| Dild(b)ute | 20.45 | 2045 | |||||
| 16 | reEarningsha(inRsfor.) (al oper stotrations)pecelueof | ||||||
| 0 e(faRs.1ach)(valised)t anonnua(a)Basic | .84 | ||||||
| d(b)Dilute | 6363.84 | .7888.7888 | 97.8297.82 | 3232.6 | 271.52 | 325.06 | |
| * | 3232.6 | 271.52 | 325.06 | ||||
| FullyribbletotheattutathersofCoanyownemp | |||||||
| Notes1 | :3Me ae cThbovlidatedfincial reltsonso | ||||||
| ofiaIndLimitedansuedbytheiewAuditCoe aittendd bherevy tBoardmmapprove | d itsbsidiaansury,ofDiron11ectors | 3Mo &ElectrCommFebruary. The2020 | icaiation IndPriunstatutorydito | e Lvatimited(hereaveharried o | fteefeo aher ts tr riew | 'Grvep')habeenou | |
| ultsforfiled nineresartnths ended31queranDembmoceer | 2019d haveissanue | d an uified rodnmev | rsauiewortrep | utlimca | d rtheiteofev | ditedfincialunauan | |
| 2 | e ctedThlidafincial reltsoftheGrp he bonson pansuouavee | d in ardareparecco | ncewith IndianAc | g Stindardscotanun | d A(InS)edastifino | thebyMinistry o | f CteAffairsorpora |
| t toSection 133theCoofies3 rpursuanAct, 201d wmpaneatheSEBI(Listinatio | ithle 3theRuofCo | n Aies(Indiampancco | g Stindatanrd)un | Rules2015s ame, a | ndedd in ts oanerm | n 3f Rulatio3 ofeg | |
| g Oblignsd DisclosureReirents) Ranqume | uiatio2015egns, |
3M INDIA LIMITED
3 Effective 1 April 2019, the Group has adopted Ind AS 116 "Leases" on all lease contracts existing on 1 April 2019 using the modified retrospective method on the date of initial application. Accordingly, comparatives for the year ended 31 March 2019 have not been retrospectively adjusted. The effect of this adoption did not have a material impact on the results for the quarter and nine months ended 31 December 2019
During the quarter ended 30 September 2019, the Group elected to exercise the option permitted under section 115BBA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the Group has recognised provision for income tax for the quarters ended 31 December 2019, 30 September 2019 and for the nine months ended 31 December 2019 and computed deferred tax based on the rate prescribed in the said section.The full impact of this change has been recognised in the statement of profit and loss for the quarter ended 30 September 2019 4
5 The Board of Directors of the Company, at its meeting held on 13 November 2019 has, subject to the approval of the shareholders and creditors of the Company and subject to the sanction of the jurisdictional Regional Director or such other competent authority, approved the Scheme of Amalgamation (the Scheme) between the Company and its wholly owned subsidiary (3M Electro & Communication India Private Limited) with effect from 1 April 2019 (Appointed date). The Company and its subsidiary are presently in the process of obtaining the requisite approval of the shareholders and creditors of the respective companies. Accordingly, no effect has been given to the aforesaid scheme as at 31 December 2019.
32,286.31
Notes (continued)
6 Discontinued operations In 3M Electro & Communication India Private Limited ( 3M E&C): 3M E&C sold its Communications Markets Division for a total consideration of Rs.3,771 lakhs during the quarter ended 30 June 2018, As part of the transaction, 3M E&C transferred fixed assets having a book value of Rs. 599.34 lakhs. This transaction resulted in a total gain of Rs. 3,171.66 lakhs to 3M E&C.
| Reltsofdisntiedsutionsconuopera | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Particulars | 3 mthsdedonen31Dembceer | 3 mthsddeonen30Sembpteer | 3 mthsdedonen31Dembceer | 9 mthsddeonen31Dembceer | 9mdthsdeonen31Dembceer | 12nths endedmo31March | |||
| 1920 | 1920 | 2018 | 1920 | 1820 | 2019 | ||||
| {Undited)au | (Undited)au | (Uudited)na | (Uudited)na | (Uudited)na | (Audited) | ||||
| ueTotalreven | 782.93 | 3782 9 | |||||||
| Totalsesexpen | 6691.8 | 691.86 | |||||||
| Profitbefore Tax | .0791 | ||||||||
| romGain fdislposa | .66 | .0791 | |||||||
| Tansex expe | 3.171 | .663,171 | |||||||
| mProfitfrodisntiednstioconuopera | 4959.2 | 959.24 | |||||||
| 7 | Additional infoononatistandalonefincialrermltsan | .492,303 | 2.303.49 | ||||||
| su | |||||||||
| Particulars | 3 mdedthsenon | 3 mthsddeonen | 3 mdthsdeonen | 9 mdedthsonen | 9 mdthsdeonen | 12ednths endmo | |||
| 31Dembceer | 30September | 31Dembceer | 31Dembceer | 31Dembceer | 31March | ||||
| 2019 | 1920 | 2018 | 1920 | 2018 | 2019 | ||||
| rom | (Undited)au | (Uudited)na | (Undited)au | (Uudited)na | (Undited)au | (Audited) | |||
| a)Ree ftionsvenuopera | 698,408.7 | 70,157.81 | 73,6060.3 | 213,766.37 | 211,9.7752 | 280,8.9775 | |||
| b)Profitorebeftax | 9,080.88 | 11.4568.9 | 157,646.9 | 633,653.1 | 406.825.5 | 49.745.93 | |||
| c)Profit aftexr ta | .846,774 | .769,214 | 910,139.0 | 624,479.8 | 326,484.1 | 32,299.08 | |||
| d)Totalrehe insivmecompenco | .176,771 | 9,210.61 | 10,1372.5 | 24,4648.6 | 726.464.5 | 132,286.3 |
Regislerd Office: Plot No, 48-51,Electronics City, Hosur Road, Bengafuru - 580100 www.3m.com/in
3M INDIA LIMITED Concorde Block, UB city, 24,Vittal Mallya Road, Bengaluru - 560001 India Tele: +9180 2223 1414 CIN NO.: L31300KA1987PLC013543
| 3MADINDILIMITE | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GDREOFFICSURE:-51,ELEC48TRONICCITYOSROAD | ||||||||||
| , HRE, BANGALO0 15600tedCoolidaSet-wiseRensReen | ||||||||||
| lts, Ad Lgmveetsiabilitnue,suiesssan | ||||||||||
| Particulars | 3 mthsddeonen | 3 ms eedth | ||||||||
| 31Demb1920 | ndon | 3 mths endedon | 9 medths endon | 9 mths endedon | dYedearen | |||||
| ceer | 30September | 31Demb1820ceer | 31De19mb20ceer | 31Demb2018ceer | 31rchMa2019 | |||||
| (Uudited)na | 2019 | (Uudited)na | (Uudited)na | (Uudited)na | (Audited) | |||||
| Se | t ree | (Uudited)na | ||||||||
| gm | envenuSafet | |||||||||
| y &(a)Indtrialus | 28,459.70 | 284,586.6 | 831,689.5 | 87,790.03 | ,710.5588 | .16117.684 | ||||
| n &(b)TrartatioEleicsnspoctron | ,26258.85 | 24,561.05 | 25,357.19 | 78,257.61 | ,805.8475 | .36103,055 | ||||
| (c)Health Care | ,08127.85 | 13,165.08 | ,059138.4 | 38,216.05 | ,143.0137 | 247,526.9 | ||||
| (d)Consumer | 8,033.21 | 9,2.6773 | 8,087.47 | 625.152.5 | 23,501.41 | 30,3478.5 | ||||
| (e)Others | 7687.9 | 766.33 | 962.21 | .621,923 | 2,236.68 | 3,0.2367 | ||||
| Revenu | me fingntitionsroconuopera | ,538747.5 | 76,352.77 | ,154.9479 | 231,3.8739 | 227,397.49 | 30.2482 | |||
| Reve | me fingdisntinunsrocotionuopera | 1,6 | ||||||||
| Tol Sta | &ingntRee (ntiegmedisinued)venuconuntco | 74,5387.5 | 76,352.77 | 79,154.94 | .87 | 782.93 | 782.93 | |||
| 231,339 | .42228,180 | .17302.465 | ||||||||
| Segm | t reltsensu | |||||||||
| y &(a)Safetindtrialus | 3,8.1726 | |||||||||
| &<b)TronortatiElectricsanspon</b) | 1,2.8709 | 4,720.50 | 7,742.18 | 14,261.33 | ,474183.1 | 240,313.4 | ||||
| (c)Heh Caltare | .22 | 1,793.26 | 2,703.25 | .476,553 | 8,665.51 | 102,697.6 | ||||
| • | (d)Consumer | 1,355 | 2,627.58 | 3,004.82 | .186,204 | 7.6.7344 | 7,9.7442 | |||
| (e)Others | .021,744 | 2,216.20 | .381,971 | .755,549 | 4,551.48 | .485,488 | ||||
| Tolta | 174.79 | 218.66 | 250.70 | 2421.6 | 652.31 | 9740.7 | ||||
| Less: | Fince | 8,310.07 | 11,5706.2 | ,67152.33 | 532,990.3 | 39,9877.1 | 493,183.0 | |||
| Add:Un | stsancoall | 3112.4 | 79.36 | 14.49 | 276.42 | 48.85 | 6112.2 | |||
| ableinceocomm | .901,442 | 1.0.2667 | 1,258.98 | 3,345.61 | 3,4.3136 | .123,683 | ||||
| Tol pta | rofit beforetaxingfroContiOpatisnueron | 9,640.54 | 120,564.1 | 16,916.82 | 436,059.5 | 43,374.63 | 52,753.89 | |||
| Tol pta | mrofit beforetaxingfroDisntisOpaticonueron | .733.262 | .733,262 | |||||||
| Total p | g &rofit beforetax(Ctinuing ODitinuinonionsconrats)pe | 9,640.54 | 12,564.10 | 16,916.82 | 436,059.5 | 6467.3 | ||||
| ,63 | 56,016.62 | |||||||||
| Segm | t aetsenss | |||||||||
| y &Sa(a)fetindtrialus | 47,791.40 | 494.95 | ||||||||
| (b)&TronatiortEleanspctricson | 45,280.31 | ,52 | ,943.5840 | 047,791.4 | 40,943.58 | 51.232.20 | ||||
| <c)< td="">Heh Carealt20,006.9144.626.7636,0761.845,280.3136,071.86144.779.2</c)<> | Heh Carealt | 20,006.91 | 44.626.76 | 36,0761.8 | 45,280.31 | 36,071.86 | 144.779.2 | |||
| (d) | Consumer | 20.257.76 | 14,3871.5 | 20,0016.9 | 14,381.57 | 20,0008.9 | ||||
| (B>Unalldateoc | ,246.0811 | 12.309.77 | 6,450.78 | 118,246.0 | 6,450.78 | 11,4495.9 | ||||
| Tol sta | tsntegmeasse | 4,837.1710 | 102,201.14 | 8,404.3510 | .17104,837 | 108,404.35 | 84,3665.9 | |||
| 229,161.87 | 228,920.38 | 6,252.1420 | .87229,161 | 206,252.14 | 211,8.2632 | |||||
| Set liabilitiesen | ||||||||||
| gm(a) | y &SafetInd | |||||||||
| trialusn &Tra | 11,226.09 | 10,779.08 | 12, 567.99 | 11,2296.0 | 129,567.9 | 315,829.1 | ||||
| (b) | rtatioEleicsctrnspoon | 411,420.2 | 12,374.36 | ,537195.2 | 114,420.2 | 19,535.27 | 157,366.3 | |||
| (c) | Heh Caltare | .315.496 | 4,223.57 | 5,999.71 | 5,4.3196 | 5,999.71 | 5,445.68 | |||
| <d)< td="">Consumer.361,9601,901.481,147.19.361,9601,147.19.762,513</d)<> | Consumer | .361,960 | 1,901.48 | 1,147.19 | .361,960 | 1,147.19 | .762,513 | |||
| (e) | Unallatedoc | ,576.0929 | 37,348.94 | ,758.9429 | 299,576.0 | 429,758.9 | 529,393.7 | |||
| Tol sta | liabilitiesntegme | 59,679.09 | 66,627.43 | 69,009.10 | 59,6799.0 | 069,009.1 | 68,5498.6 | |||
Note:
1. The assets and liabilities are allocable to the extent they are identifiable to the respective segments. All the others are grouped under 'Unallocated'.
Company 2. 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 '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. Effective 1 April 2019, The Group realigned its former five business segments into four, the new business segments are Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. Existing divisions were largely realigned to this new structure. Accordingly the corresponding items of segment information for previous periods are restated for comparitive purposes.
Place: Bengaluru
Registerd Office: Plot No. 48-51,Electronics City,Hosur Road,Bengaluru - 560100 www.3m.com/in
§ Z O 3 - D 7Z 3<D (Qfl)_ < o.^ o 3 ^aa c ^ 0 m ^ + cn SL o' £ n O).<• O 3 g o iS /r 3 5 CO O 73 c Jf o o o 55 2 © ro ^ Q.Q 3 =T o m HI#
3M INDIA LIMITED £ ru Q_ CJN:L31300KA1987PLC013543, Website:www.3m.com/in 8 ^
Regd Office: 48-51, Electronics City, Hosur Road, Bengaluru - 560100 £
Extract of the Standalone and Consolidated Financial Results for the quarter and nine months ended 31 December 201$£$
| CD | . inre dshanlessise(RsLakhstataothted)sta, excepper, uerw | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| neStandalo | tedColidanso | ||||||||
| ~0OZo | rsParticula | d3 mthsdeonen319Deber201cem(Unaudited) | ed9nths endmo01931Deber 2cem(Unaudited) | ed12s enthndmorch319Ma201(Audited) | ed3 mthsendon319Deber201cem(Unaudited) | ed9 mthsendon31Deber9201cem(Unaudited) | d12s enthndemorch319Ma201(Audited) | ||
| to | mmeTotal ifroonsratincoope | 070,754.6 | 4216,778.8 | 3284,159.1 | 875,980.4 | 8234,685.4 | 6305,365.3 | ||
| P> | theiodNet Profire tndt /(Loss)for( befoExcional a/ or Eordinary ieptxtratems)perax, | 889,080. | 633,653.1 | .9349,745 | 549,640. | .5436,059 | .8952,753 | ||
| 00 | theiodoreandNet Profit /(Loss)forbeftax( after Eptional/ or Eordinary ixtras)pertemxce | 889,080. | 633,653.1 | 349,745.9 | 549,640. | .5436,059 | .8952,753 | ||
| U1 | momg oNet Profit/(Loss)froordinary activitieftex frtinuinationss ar taconper | 846,774. | .8624,479 | 832,299.0 | 947,191. | 426,205.5 | .5034,314 | ||
| -t | medNet Profit/(loss) aftertaxfrodistinurationsconope | 492,303. | |||||||
| m§CD | theiodNet Profit /(Loss)foraftexr taper | 846,774. | .8624,479 | 832,299.0 | 47,191.9 | .5426,205 | 936,617.9 | ||
| §oW£ | ee foeiodngTotal ctheiodhensivincr th[CorisiProfit/(Loforss)(aftompreompermppererndee) aothhensiv(aftax)]taxincer ter compreom | .176,771 | 4,468.824 | .3132,286 | 37,189.8 | .2026,199 | .6236,611 | ||
| §3 | e cEquity sharapital | .511,126 | .511,126 | .511,126 | .511,126 | .511,126 | .511,126 | ||
| So | gn reIndReASves( excludinaluatiovesas)serrevserper | 2184,826.5 | 6142,157.0 | ||||||
| O3 | re(inEarningsshaRs.)per(ofRs/- each)(fontinuinganddistinued. 10rati)r coconopeons | ||||||||
| 3>< | (ina) BasicRs.) | 1460. | .31217 | .72286 | 8463. | .63232 | .06325 | ||
| X | (in) DilutedbRs.) | 1460. | .31217 | .72286 | 8463. | .63232 | .06325 |
c Notes:
- 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 11 February 2020.
2. The above is an extract of the detailed format for the unaudited financial results for the quarter and nine months ended 31 December 2019 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 nine months ended 31 December 2019 are available on the Bombay Stock Exchange website (URL: www.bseindia.com/corporates), the National Stock Exchange website (URL: www.nseindia.com/corporates) and on the Company's website (http:// solutions.3mindia.co.in/wps/portal/3M/en-IN/about). oQ)Q_ CDCD13 CD
amesh Ramadural Managing Director
Place: Bengaluru Date: 11 February 2020
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