Glued to Growth

At some point of time, you are bound to have used products of 3M India - be it office stationery products like Post-it and glue stick to home care product such as the Scotch-Brite scrub sponge. 3M has kept pace in tune with the India growth story after the liberalisation in 1991 and built on growth in the country. At the conclusion of its 30th year of operations in India, Debarati Sen, Managing Director, 3M India, informed shareholders about the performance by the company in FY 2017/18 with turnover growth of 4.99 per cent and 30.19 per cent increase in profitability over the previous year. "Portfolio prioritisation, operational productivity and lower material cost increased profitability at all levels during 2017/18," she says.

Sen has been closely involved in the unfolding growth story of 3M in India in view of her long association with the company. A bachelor in electronics engineering and an MBA in marketing and finance, Sen began her innings at 3M in 1996 as a division manager for the personal safety division, and went on to become the managing director in June 2016.

The shareholders - 75 per cent by promoters - could not be happier, based on the strong performance of its stock. On the Bombay Stock Exchange (BSE), its share was quoting at around Rs25,711 on August 11. In fact, for the quarter ended June 2018, 3M India had an EPS (earning per share) of Rs88.42, which on an annualised basis translates into earnings of Rs350 for a Rs10 share. Not just that, it enjoys a net profit margin of 14.22 per cent and an operating profit margin of 23.35 per cent. All these numbers are higher than the previous year.