This diversified company stock has skyrocketed on robust Q4 performance

This diversified company stock has skyrocketed on robust Q4 performance

by 5paisa Research Team Last Updated: Dec 13, 2022 - 08:37 pm 26.7k Views
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The company operates in Safety & Industrial, Transportation & Electronics, Health Care and Consumer segments and has delivered robust Q4 results.

Indian market has started a new week with green candles as S&P 500 closed positively on Friday and also there was no big bad news to reverse the investor or trader’s sentiments. At 2:22 pm, S&P BSE Sensex is trading at 55882, 1.82% up from its previous close on Friday. All sectors are trading positive. Overall positive market sentiments coupled with strong Q4 results helped a few stocks rally hard at the start of the day. One of them is 3MINDIA Limited.

3M India Ltd.'s stock has skyrocketed today, trading at 19174.5 at 2:22 pm on 30th May 2022. The stock is up 8.92% for the day. The stock also made a high of Rs 20,914 at one point of the day. On 27th May, the company released their Q4 results after the market close. Due to robust results, the stock opened gap up at Rs 18,900, against previous close of Rs 17,604.5.

The company reported revenue at Rs 934.8 crore for Q4FY22, a growth of 12% from its Q4FY21 number of Rs 834.37. The net profit for the company also grew more than 57% on YOY basis, reported at Rs 110.91 crore, as against Rs 70.47 crore in Q4FY21. Earnings per share (EPS) of the company for the period ended March 2022 was recorded at Rs 241.43 a share, a 67.49% growth from its FY21 ending number of Rs 144.14. For FY22, the company’s healthcare segment was leading the growth.

Apart from financials, the management highlighted that the cost headwinds and supply chain volatility continue to be a challenge for the company.

3M India Limited is a subsidiary of 3M Company, USA. In India, the company has manufacturing facilities in Ahmedabad, Bangalore, and Pune and has an R&D Center in Bangalore.

The company is almost debt-free and has ROCE of 15% for the period ending FY22. The stock is trading at 7.95x price to book value and PE of 84.5x. The stock made a 52-week high at Rs 27,800 and a 52-week low at Rs 17,300.

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