3M India Limited’s Board approved the Unaudited Financial Results for the quarter and nine months ending December 31, 2025, showing strong sales growth. Crucially, the board noted the upcoming retirement of Managing Director Mr. Ramesh Ramadurai on March 31, 2026, and appointed Mr. Aseem Kuldip Joshi as his successor, effective April 1, 2026. The company also reported receiving the final draft of the Advance Pricing Agreement (APA).
Financial Highlights for Q3 FY26
3M India Limited announced the results of its Board meeting held on February 12, 2026. The Board approved the Unaudited Financial Results for the quarter and nine months ended December 31, 2025. The company reported significant year-on-year (YoY) growth for the third quarter (Q3 FY26):
- Sales & Other Operating Income grew by 12.7% YoY, reaching Rs. 1,228 Crores.
- EBITDA saw robust growth of 40.5% YoY, totaling Rs. 240 Crores.
- Profit Before Tax (PBT) before exceptional items grew by 22.8% YoY.
- Overall sales for the nine months ending December 31, 2025, registered a growth of 13.6% YoY.
However, the quarter reported a Net Loss After Tax (PAT) of (Rs. 62 Crores) due to exceptional items, including charges related to recently announced labor codes and costs associated with the Advance Pricing Agreement (APA).
Leadership Transition Confirmed
A significant event noted by the Board was the retirement of the Managing Director, Mr. Ramesh Ramadurai (DIN: 07109252), effective close of business on March 31, 2026, after serving the 3M Group for over 36 years.
Based on the recommendation of the Nomination and Remuneration Committee, the Board appointed Mr. Aseem Kuldip Joshi (DIN: 07504624) as an Additional Director, categorized as Executive Director (designated as “Managing Director”), effective April 1, 2026. Mr. Joshi’s appointment is for a term of five years (April 1, 2026, to March 31, 2031). Mr. Joshi was recently appointed as President and Managing Director (Designate) effective October 13, 2025.
Advance Pricing Agreement Update
The company confirmed it received the final draft of the Advance Pricing Agreement (APA) approved by the Central Board of Direct Taxes on January 6, 2026, concerning tax litigation matters for financial years 2014-15 to 2022–23. The Company has accepted the terms, and the final signing is expected shortly. The management has recognized associated tax expense and interest costs in the current quarter.
Segment Performance Summary
The press release highlighted broad-based YoY growth across all four business segments for Q3 FY26:
- Safety & Industrial sales grew by 20.1%.
- Health Care sales grew by 13.5%.
- Consumer sales grew by 12.3%.
- Transportation & Electronics sales grew by 3.9%.
For the nine months ending December 2025, the company delivered PBT of Rs. 711 Crores, marking a 29.7% growth versus the prior year, reflecting strong underlying performance despite exceptional impacts.
Source: BSE
