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A strong second-quarter performance fueled a notable rally in 3M India shares, with the stock jumping as much as 13% on Tuesday, November 4, following the release of impressive financial results. The company reported a ample 43% year-over-year (YoY) increase in profit after tax (PAT) for the quarter ending September 30, 2025.
Q2FY26 Financial Highlights
3M india’s PAT reached Rs 191 crore in Q2FY26, a marked improvement from the Rs 134 crore reported during the same period last year. this surge in profitability was accompanied by a 14% YoY rise in sales and other operating income, totaling Rs 1,266 crore compared to Rs 1,111 crore in Q2FY25. While total income experienced a slight dip due to a 32.2% decline in other income – falling from Rs 18 crore to Rs 12 crore – the core business demonstrated robust growth.
Earnings before interest, tax, depreciation, and amortization (EBITDA) climbed 33.1% YoY to Rs 268 crore, up from Rs 201 crore in the corresponding quarter of the previous year. Profit before tax (PBT) also saw a significant increase, growing 37% YoY to Rs 251 crore versus Rs 183 crore in the year-ago period.
Sequential Growth and Broad-Based Performance
The company continued its upward trajectory sequentially, registering a 5.9% increase in sales from the April-June 2025 quarter, reaching Rs 1,196 crore. PAT rose 7.7% from Rs 178 crore in the prior quarter, and EBITDA increased by 4.5% sequentially.
Notably,3M India reported sales growth across all its business segments – Transportation & Electronics,Safety and Industrial,Health Care,and Consumer – on a YoY basis. For the first half of the fiscal year ending September 30, 2025, the company achieved an overall sales growth of 14.1%.
Analyst Optimism and Increased Targets
The strong Q2FY26 results have prompted positive revisions from analysts. Domestic brokerage firm ICICI Securities has raised its target price for the stock to Rs 35,700, a slight increase from its previous target of rs 35,610, while maintaining a ‘buy’ rating.
“The company delivered 14.0% sales growth in the second quarter of the current financial year versus Q2 prior year,” a company release stated. “The company delivered broad-based growth across all four business segments.”
One analyst noted that the quarter may represent a key turning point for 3M India, citing cyclical tailwinds in the automotive sector, benefits from the Goods and Services Tax (GST), and increased government spending on infrastructure as factors likely to support sustained growth in the second half of FY26. The favorable base from the second half of FY25 is also expected to contribute to continued momentum. Consequently, earnings estimates for FY26 and FY27 have been increased by 4.1% and 2.2%, respectively.
