3M India (523395) Q3 25/26 earnings summary

Executive summary

• Sales grew 12.7% year-over-year in Q3 FY26, with all business segments contributing to growth.

• EBITDA increased 40.5% YoY in Q3 FY26, but declined 10.5% sequentially from the previous quarter.

• The company recorded a net loss of Rs. 62 crores in Q3 FY26 due to exceptional items and additional tax expense.

• Managing Director Ramesh Ramadurai will retire effective March 31, 2026, with Aseem Joshi appointed as successor from April 1, 2026.

Financial highlights

• Q3 FY26 total income: Rs. 1,237.5 crores; nine months ended Dec 2025: Rs. 3,727.3 crores.

• Q3 FY26 EBITDA: Rs. 240 crores, up 40.5% YoY; PBT before exceptional items: Rs. 189 crores.

• Q3 FY26 PAT: Rs. -62 crores due to exceptional labor code impact and APA-related tax expense.

• EPS for Q3 FY26: Rs. -55.09; nine months EPS: Rs. 272.50.

• Nine months PAT: Rs. 307 crores; PBT (excluding special causes) for nine months: Rs. 711 crores, up 29.7% YoY.

Outlook and guidance

• Management remains cautious about material cost pressures from adverse forex movements.

• The company continues to monitor regulatory changes and will adjust accounting as needed.