CMP: 4262

3M India Limited manufactures products for the electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company's products include cable connectors, discrete modular and heat recoverable closures, electrical termination and splicing products, specialty pressure sensitive coated tapes, and specialty chemicals.

3M India is a decent bet in mid-cap space. Its currently trading at a P/E of 50 which is partly justified for high cash reserves in its balance sheet. Minimal liabilities. Revenues have grown steadily from 610 Crores to 1191 Crores in the last 5 years. Profits have picked up in similar lines from 67 Crores to 99 Crores in the same period. NPM has dipped from 11% to 8% over 5 years. Buy and hold for long term gains.