3M India News

M3M invests ₹3,500 cr in ELIE SAAB housing projects

M3M India partners with luxury fashion brand ELIE SAAB to develop two ultra-luxury housing projects in Delhi-NCR with total investment of ₹3,500 crore, including 300 apartments in Gurugram and 650 units in Noida.

3M India Receives Tax Settlement Order Under Direct Tax Vivad Se Vishwas Scheme

3M India Limited has received a final settlement order in Form 4 for Financial Year 2008-09 from the Principal Commissioner of Income Tax, Bengaluru-2, under the Direct Tax Vivad Se Vishwas Scheme, 2024. The scheme was introduced by the Finance (No.2) Act, 2024 to settle tax disputes. The company had applied under this scheme to settle open tax litigations for the period FY 2004-05 to FY 2013-14. As per the settlement terms, the company is entitled to receive a refund of Rs 2.28 crores for FY 2008-09. The company stated that this settlement has no material impact on its operations or activities.

3M India Reports 14% Sales Growth in Q2, Appoints New Independent Director and Auditors

3M India Limited reported 14.0% sales growth for the quarter ended September 30, 2025, with revenue reaching Rs. 278.81 crores compared to the previous year. The company achieved broad-based growth across all four business segments: Healthcare (14.9%), Consumer (14.6%), Transportation Electronics (12.9%), and Safety Industrial (12.3%). EBITDA registered 33.1% growth year-on-year. Net profit after tax increased 43.0% to Rs. 191 crores. The Board appointed Mr. Dwarakanath Ranganath Mavinakere as Additional Independent Director effective February 2, 2026, for a five-year term, subject to shareholder approval. The company also approved the appointment of PriceWaterhouseCoopers Chartered Accountants LLP as statutory auditors for five years, replacing BSR Co. LLP whose term concludes at the 39th AGM. Additionally, 3M Company USA entered an agreement to sell its Precision Grinding & Finishing business to Nimbus, a Europe-based private equity firm, with the transaction expected to close in the first half of 2026. This business contributed less than 1% of 3M India's revenue in FY2024-25.