3M India Ltd. — Interim / Quarterly Report 2022

Aug 12, 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

Corporate Relationship Department August 12, 2021 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 August 12, 2021. Ref: Reg. 30(2) and Reg. 33 of SEBI (LODR) Regulations, 2015.

In continuation of our letter dated July 16, 2021, we wish to inform you that the Board of Directors of the Company at its meeting held through Video Conference (VC) on August 12, 2021 (Thursday) have transacted the following items inter-alia other business(es):

• 1. The Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 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". We are arranging publication of the results in the newspapers and at the website of the Company as required under Reg. 33 read with 47 of SEBI (LODR) Regulations, 2015.
• 1. Statutory Auditors' Limited Review Report on the Unaudited Financial Results (Standalone & Consolidated), attached as "Annexure-2".
• 1. Press Release is enclosed as "Annexure- 3"

The Meeting commenced at 11:31 A.M. and concluded at 12:15 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

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 ended 30 June 2021

(Rs. in Lakhs, except per share data, unless otherwise stated)
		Standalone			Consolidated
Particulars	3 months ended30 June 2021(Unaudited)	3 months ended30 June 2020(Unaudited)	12 months ended31 March 2021(Audited)	3 months ended30 June 2021(Unaudited)	3 months ended30 June 2020(Unaudited)	12 months ended31 March 2021(Audited)
Total income from operations (including other income)	69,661.46	32,659.64	244,723.16	75,186.32	35,258.81	262,956.87
Net Profit / (Loss) for the period (before tax, Exceptional and / or Extraordinary items)	3,763.54	(5,417.19)	20,244.08	4,051.09	(5,784.10)	21,992.16
Net Profit / (Loss) for the period before tax (after Exceptional and / or Extraordinary items)	3,763.54	(5,417.19)	20,244.08	4,051.09	(5,784.10)	21,992.16
Net Profit / (Loss) for the period after tax	2,796.10	(3,991.39)	14,930.09	3,009.59	(4,251.75)	16,237.65
Total comprehensive income for the period [Comprising Profit / (Loss) for the period (after
tax) and other comprehensive income (after tax)]	2,732.25	(4,084.94)	14,674.69	2,936.59	(4,355.05)	15,945.64
Equity share capital	1,126.51	1,126.51	1,126.51	1,126.51	1,126.51	1,126.51
Reserves (excluding revaluation reserves as per Ind AS)			221,024.23			189,906.40
Earnings per share (in Rs.) (of Rs. 10/- each)
a) Basic (in Rs.)	24.82	(35.43)	132.53	26.72	(37.74)	144.14
b) Diluted (in Rs.)	24.82	(35.43)	132.53	26.72	(37.74)	144.14

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 12 August 2021.

2.T he above is an extract of the detailed format for the unaudited financial results for the quarter ended 30 June 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 ended 30 June 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 (https://www.3mindia.in/3M/en\_IN/company-in/about-3m/financial-facts-local/).

3.T he 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: Chennai

		3M INDIA LIMITED
	REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2021
					Rs. in Lakhs (except in respect of item 12)
SlNo	Particulars	3 months ended30 June 2021(Unaudited)	3 months ended31 March 2021(refer note 2)	3 months ended30 June 2020(Unaudited)	12 months ended31 March 2021(Audited)
1	Income
	(a) Revenue from operations	68,854.07	76,923.37	31,951.56	242,036.39
	(b) Other income	807.39	755.48	708.08	2,686.77
	Total income	69,661.46	77,678.85	32,659.64	244,723.16
2	Expenses
	(a) Cost of materials consumed(b) Purchases of stock-in-trade	33,357.4919,389.42	34,211.3817,594.99	11,777.699,201.55	93,820.9253,534.70
	(c) Changes in inventories of finished goods, stock-in-tradeand work-in-progress	(6,919.60)	(3,030.45)	(867.03)	2,086.59
	(d) Employee benefit expenses	8,806.33	8,633.04	8,341.57	33,677.10
	(e) Finance costs	57.86	29.86	82.58	243.22
	(f) Depreciation and amortisation expense	1,427.70	1,383.44	1,450.17	5,967.54
	(g) Other expenses	9,778.72	9,955.20	8,090.30	35,149.01
	Total expenses	65,897.92	68,777.46	38,076.83	224,479.08
3	Profit / (loss) before exceptional items and tax (1-2)	3,763.54	8,901.39	(5,417.19)	20,244.08
4	Exceptional items	-	-	-	-
5	Profit / (loss) before tax (3+4)	3,763.54	8,901.39	(5,417.19)	20,244.08
6	Tax expense:
	(a) Current tax	971.67	2,519.01	-	6,123.41
	(b) Deferred tax	(4.23)	(186.30)	(1,425.80)	(809.42)
	Total	967.44	2,332.71	(1,425.80)	5,313.99
7	Net profit / (loss) for the period (5-6)	2,796.10	6,568.68	(3,991.39)	14,930.09
8	Other comprehensive income (net of tax) -Items that will not be reclassified subsequently to statement ofprofit or loss
	(a) Remeasurements of net defined benefit (liability)/ asset	(85.32)	33.76	(125.02)	(341.30)
	(b) Income tax relating to items not to be reclassifiedsubsequently to statement of profit or loss	21.47	(8.51)	31.47	85.90
	Total other comprehensive income (net of tax)	(63.85)	25.25	(93.55)	(255.40)
9	Total comprehensive income / (loss) (7+8)	2,732.25	6,593.93	(4,084.94)	14,674.69
	10 Paid up equity share capital (face value of Rs.10 each)	1,126.51	1,126.51	1,126.51	1,126.51
	11 Other equity				221,024.23
	12 Earnings per share (in Rs.)
	(face value of Rs. 10 each) (not annualised for the quarters)(a) Basic	24.82	58.31	(35.43)	132.53
	(b) Diluted	24.82	58.31	(35.43)	132.53
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

Notes:

2 12 August 2021. The statutory auditors have reviewed these results for the quarter ended 30 June 2021 and have issued an unmodified report. The figures for the quarter ended 31 March 2021 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 previous financial year. 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 the possible effects that may result from COVID-19 pandemic in the preparation of these standalone financial results including the recoverability of carrying amounts of financial and non financial assets. In developing the assumptions relating to the possible future uncertainties in the global economic conditions because of the COVID19 pandemic, the Company has, at the date of approval of these standalone financial results, used internal and external sources of information and related information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 pandemic on the Company's financial results may differ from that estimated as at the date of approval of these standalone financial results.

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 way of a 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 an opinion from external counsel, the Company made an application with the jurisdictional Regional Director for the approval of the Scheme. The application has been rejected by the jurisdictional Regional Director vide his letter dated 7 June 2021. The Company will evaluate and proceed with an alternate option available under the Companies Act, 2013 for the merger.

	3M INDIA LIMITED
	REGD OFFICE: 48-51, ELECTRONICS CITY, HOSUR ROAD, BENGALURU 560 100
	STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2021
					Rs. in Lakhs (except in respect of item 12)
Sl	Particulars	3 months ended	3 months ended	3 months ended	12 months ended
No		30 June 2021	31 March 2021	30 June 2020	31 March 2021
		(Unaudited)	(refer note 3)	(Unaudited)	(Audited)
	1 Income
	(a) Revenue from operations	74,387.20	82,720.66	34,617.94	260,483.14
	(b) Other income	799.12	716.85	640.87	2,473.73
	Total income	75,186.32	83,437.51	35,258.81	262,956.87
	2 Expenses
	(a) Cost of materials consumed	35,698.00	35,961.67	12,897.46	99,441.00
	(b) Purchases of stock-in-trade	21,508.30	19,122.89	9,524.62	58,365.23
	(c) Changes in inventories of finished goods, stock-in-trade	(7,886.70)	(2,982.60)	(760.53)	2,101.44
	and work-in-progress
	(d) Employee benefit expenses	9,802.35	9,543.65	9,176.20	36,990.48
	(e) Finance costs	58.37	30.22	83.04	245.41
	(f) Depreciation and amortisation expense	1,477.27	1,441.73	1,502.95	6,184.59
	(g) Other expenses	10,477.64	10,831.60	8,619.17	37,636.56
	Total expenses	71,135.23	73,949.16	41,042.91	240,964.71
	3 Profit / (loss) before exceptional items and tax (1-2)	4,051.09	9,488.35	(5,784.10)	21,992.16
	4 Exceptional items	-	-	-	-
	5 Profit / (loss) before tax (3+4)	4,051.09	9,488.35	(5,784.10)	21,992.16
	6 Tax expense:
	(a) Current tax	1,048.63	2,573.47	-	6,499.48
	(b) Deferred tax	(7.13)	(132.08)	(1,532.35)	(744.97)
	Total	1,041.50	2,441.39	(1,532.35)	5,754.51
	7 Profit / (loss) after tax (5-6)	3,009.59	7,046.96	(4,251.75)	16,237.65
	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	(97.55)	23.93	(138.05)	(390.22)
	(b) Income tax relating to items not to be reclassified subsequently	24.55	(6.04)	34.75	98.21
	to statement of profit or loss
	Total other comprehensive income (net of tax) *	(73.00)	17.89	(103.30)	(292.01)
	9 Total comprehensive income / (loss) (7+8) *	2,936.59	7,064.85	(4,355.05)	15,945.64
	10 Paid up equity share capital (face value of Rs.10 each)	1,126.51	1,126.51	1,126.51	1,126.51
	11 Other equity				189,906.40
	12 Earnings per share (in Rs.)
	(face value of Rs. 10 each) (not annualised for the quarters)
	(a) Basic	26.72	62.56	(37.74)	144.14
	(b) Diluted	26.72	62.56	(37.74)	144.14
*	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 12 August 2021. The statutory auditors have reviewed these
	results for the quarter ended 30 June 2021 and have issued an unmodified report.
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 figures for the quarter ended 31 March 2021 are the balancing figures between the audited figures in respect of the full financial years and the publishedunaudited year to date figures up to the third quarter of the previous financial year. Also the figures upto the end of the third quarter were only reviewed and not
	subjected to audit.
4	The Group has considered the possible effects that may result from COVID-19 pandemic in the preparation of these consolidated financial results including the
	recoverability of carrying amounts of financial and non financial assets. In developing the assumptions relating to the possible future uncertainties in the global
	economic conditions because of the COVID19 pandemic, the Group has, at the date of approval of these consolidated financial results, used internal and

external sources of information and related information and economic forecasts and expects that the carrying amount of these assets will be recovered. The impact of COVID-19 pandemic on the Group's financial results may differ from that estimated as at the date of approval of these consolidated 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 way of a 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 an opinion from external counsel, the Company made an application with the jurisdictional Regional Director for the approval of the Scheme. The application has been rejected by the jurisdictional Regional Director vide his letter dated 7 June 2021. The Company will evaluate and proceed with an alternate option available under the Companies Act, 2013 for the merger.

6	Additional information on standalone financial results
	Particulars	3 months ended	3 months ended	3 months ended	12 months ended
		30 June 2021	31 March 2021	30 June 2020	31 March 2021
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	a) Revenue from operations	68,854.07	76,923.37	31,951.56	242,036.39
	b) Profit / (loss) before tax	3,763.54	8,901.39	(5,417.19)	20,244.08
	c) Profit / (loss) after tax	2,796.10	6,568.68	(3,991.39)	14,930.09
	d) Total comprehensive income / (loss)	2,732.25	6,593.93	(4,084.94)	14,674.69

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
Particulars3 months ended3 months ended3 months endedYear ended
	30 June 2021	31 March 2021	30 June 2020	31 March 2021
	(unaudited)	(refer note 2)	(unaudited)	(Audited)
Segment revenue
Safety & Industrial(a)	28,770.82	30,877.58	13,249.17	101,249.64
Transportation & Electronics(b)	23,766.93	31,305.65	8,401.78	89,033.53
Health Care(c)	13,006.64	10,955.63	7,700.41	36,200.78
Consumer(d)	8,085.55	9,093.15	4,906.22	31,286.00
Others(e)	757.26	488.65	360.36	2,713.19
Revenue from operations	74,387.20	82,720.66	34,617.94	260,483.14
Segment results
Safety & Industrial(a)	276.88	2,697.39	(2,189.40)	10,392.17
Transportation & Electronics(b)	(283.27)	3,239.47	(4,266.07)	1,418.96
Health Care(c)	1,656.31	1,125.11	43.11	3,047.14
Consumer(d)	1,260.82	1,665.23	(10.02)	3,985.56
Others(e)	399.60	74.52	80.45	920.01
Total	3,310.34	8,801.72	(6,341.93)	19,763.84
Less: Finance costs	58.37	30.22	83.04	245.41
Add: Unallocable income	799.12	716.85	640.87	2,473.73
Total profit / (loss) before tax from Operations	4,051.09	9,488.35	(5,784.10)	21,992.16
Segment assets
Safety & Industrial(a)	48,823.45	44,771.41	41,663.03	44,771.41
Transportation & Electronics(b)	48,881.27	46,232.84	40,813.63	46,232.84
Health Care(c)	18,789.53	16,369.96	15,612.01	16,369.96
Consumer(d)	11,223.63	10,455.74	10,842.24	10,455.74
Unallocated(e)	150,862.84	147,323.08	124,435.36	147,323.08
Total segment assets	278,580.72	265,153.03	233,366.27	265,153.03
Segment liabilities
Safety & Industrial(a)	20,145.93	16,686.03	12,476.44	16,686.03
Transportation & Electronics(b)	18,406.88	16,049.16	11,699.77	16,049.16
Health Care(c)	7,121.91	5,080.35	5,032.71	5,080.35
Consumer(d)	3,158.89	3,409.86	1,798.04	3,409.86
Unallocated(e)	35,777.61	32,894.72	31,627.09	32,894.72
Total segment liabilities	84,611.22	74,120.12	62,634.05	74,120.12

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 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.

B S R & Co. LLP

Chartered Accountants

Embassy Golf Links Business Park, Pebble Beach,BBlock, 3 ,d Floor, Off Intermediate Ring Road, Bengaluru-560071 Inda

Telephone: + 91 80 4682 3000 Fax: + 91 80 4682 3999

Limited Review Report on unaudited quarterly consolidated financial results of 3M India Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

To

Board of Directorsof 3MIndia 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 its subsidiary together referred to as "the Group"), for the quarter ended 30 June 2021 ("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' ).
• 2. This Statement,which is the responsibility of the Parent'smanagement and approved by theParent's Board ofDirectors, has been preparedin accordance with the recognitionand measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS34"), 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 express a conclusion 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 IndependentAuditorcfthe Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of personsresponsible for financial and accounting matters, and applying analytical and other review procedures. A review issubstantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us toobtain 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.

• 1. The Statement includes the results of 3M Electro and Communication India Private Limited (subsidiary company).
• 5. Attention isdrawn to the fact that the figuresfor the 3 months ended 31 March 2021 asreported in there financialresultsarethe balancing figures betweenaudited figuresin respectofthe full previousfinancial year and the published year to date figures up to the third quarter of the previousfinancial year. The figures up to the end of the third quarter of previousfinancial year had only been reviewed and not I r subjected to audit.

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BSR & Co. LLP

1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to 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 Gupta Partner Membership Number: 064597 UDIN: 21064597AAAACH8894

Place: Bengaluru Date: 12 August 2021

$\mathcal{H}$

BSR&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: +9180 4682 3999

Limited Review Report on unaudited quarterly standalone financial results of 3M India Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

To

Board of Directors of 3M India Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results 3M India Limited ("the Company") for the quarter ended 30 June 2021 ("the Statement").
• 1. 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.
• 1. 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.
• Attention is drawn to the fact that the figures for the 3 months ended 31 March 2021 as reported in $\overline{4}$ these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

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. AAB8181) with effect from October 14, 2013

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1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the 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 terms 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.

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

Vikash Gupta Partner Membership Number: 064597 UDIN: 21064597AAAAACG2190

Place: Bengaluru Date: 12 August 2021

Annexure-3

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, August 12, 2021

3M India Limited held a meeting of its Board of Directors on August 12, 2021 via Video Conference and is pleased to announce the highlights of results for the quarter ended June 30, 2021.

• 3M India Limited registers Topline and Bottomline growth (Standalone and Consolidated) on Q-o-Q (PY) basis. (Note: all figures are rounded off to nearest digit)
• 115% revenue growth Y-o-Y over Q1 FY20-21; decline of 10% vs. sequential prior quarter.
• Sharp increase in input costs adversely impacted material cost.
• All segments (standalone & Consolidated) grew on a Y-o-Y basis.
• Healthcare grew by 19% (Consolidated) and 26% (Standalone) sequentially compared to last quarter Jan- March 2021, but all other segments declined on a sequential basis.
• Vaccination status: 91% of employees have received at least one dose and 48% have received both doses.

Standalone Results: (Rs. Crores)- Q-o-Q

Particulars	April-June 2021	Jan-Mar 2021	Growth
Sales & Other Operating Income	689	769	-10%
Other Income	8	8	0%
EBITDA	52	103	-50%
PBT	38	89	-57%
PAT	28	66	-58%

Standalone Results: (Rs. Crores)- Q-o-Q (PY)

Particulars	April-June 2021	April-June2020	Growth
Sales & Other Operating Income	689	320	115%
Other Income	8	7	14%
EBITDA	52	-39	233%
PBT	38	-54	170%
PAT	28	-40	170%

Consolidated Results: (Rs. Crores)- Q-o-Q

Particulars	April-June 2021	Jan-Mar 2021	Growth
Sales & Other Operating Income	744	827	-10%
Other Income	8	7	14%
EBITDA	56	110	-49%
PBT	41	95	-57%
PAT	30	70	-57%

Consolidated Results: (Rs. Crores)- Q-o-Q (PY)

Particulars	April-June 2021	April-June 2020	Growth
Sales & Other Operating Income	744	346	115%
Other Income	8	6	33%
EBITDA	56	-42	233%
PBT	41	-58	171%
PAT	30	-43	170%

Commenting on the quarterly results, Mr. Ramesh Ramadurai, Managing Director of 3M India Limited, said "I thank all of our employees and business partners for meeting customer expectations during yet another quarter of volatility amidst the trauma of the second wave. The Company faced significant cost headwinds during the quarter, both in material cost inflation as well as freight related cost increases. We do not anticipate immediate relief from these cost pressures.

I am proud of the support we were able to provide government hospitals in partnership with other Companies, in augmenting ICU beds capacity, and other similar interventions. I am pleased that over 90% of our employees have received at least one dose of the vaccine and close to 50% have received both doses. Most of these were done through Company sponsored vaccine drives for employees and their families, Pan India."

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