Your Directors are pleased to present the Thirty Eight (38^th) Annual Report of the Company. The Financial Statements of
the Company for the financial year ended March 31, 2025 are prepared in compliance with the applicable provisions of
the Companies Act, 2013 including Indian Accounting Standards. The audited Financial Statements together with the
Auditors’ Report thereon form a part of the Annual Report.

FINANCIAL HIGHLIGHTS

(' in lakhs)

1. The financial year ending March 31, 2025, reflects merged financials following the amalgamation of 3M Electro & Communication
India Private Limited (a wholly owned subsidiary) with 3M India Limited. To facilitate comparison, the values for the financial year
ended March 31, 2024, have been adjusted to include the effects of the merger.

DIVIDEND

The Board is pleased to recommend a dividend of ' 535 per
equity share (final dividend of ' 160 per equity share and
special dividend of ' 375 per equity share) at its meeting
held on May 28, 2025. This payment is subject to the
approval of the Members in the ensuing Annual General
Meeting of the Company. The dividend will be paid to all
those equity shareholders of the Company whose names
appear in the Register of Members and whose names appear
as beneficial owners as per the beneficiary list furnished for
the purpose by National Securities Depository Limited and
Central Depository Services (India) Limited as on record
date fixed for this purpose.

The Board of Directors approved the Dividend Distribution
Policy on February 9, 2017 in terms of SEBI (Listing
Obligations and Disclosure Requirements), Regulations
2015. The Policy is available at https://www.3mindia.
in/3M/en_IN/company-in/about-3m/financial-facts-local/
and the same is annexed as “Annexure J”, which forms part
of this report.

Transfer of dividend to the Investor Education and Protection
Fund, if any: NA

TRANSFER TO RESERVES

The Company does not propose to transfer any amounts to
general reserves.

STATE OF COMPANY’S AFFAIRS

The global economic environment remained uncertain
during the year, as geopolitical tensions led to cautious
investments, rising costs, and supply chain challenges.
Despite these headwinds, India’s economy stayed strong
and delivered steady growth. During the year, your
Company continued to monitor external trends and their
impact on operations. The Company remained resilient,
maintaining stable revenues while focusing on efficiency and
agility to create value for all stakeholders.

Strong growth in automobile and industrial market
segments

India's automotive industry remains a key contributor to the
country's GDP and manufacturing sector. The increasing
adoption of electric vehicles has created new opportunities
for the Company to introduce innovative products and
solutions. Additionally, the Company’s offerings across
the automotive value chain include adhesives, abrasives,

and products designed for the automotive aftermarket
segments. Demonstrating a strong commitment to growth,
the Company expanded its presence across various
segments of the broader industrial market.

Increased Government spending on infrastructure
projects

The government's increased capital expenditure in
infrastructure development aimed at modernising roads,
railways, regional airports, and other key projects has
opened growth avenues for the Company. These initiatives
have driven demand for the Company’s transportation safety
solutions, as well as its commercial and industrial offerings.

Attractive policy initiatives for emerging sectors

Government policies, particularly the Product Linked
Incentive (PLI) schemes, have been instrumental in fostering
growth in emerging sectors such as mobile phones,
electronics manufacturing, and defense. The Company has
strategically aligned itself with leading manufacturing firms,
supplying essential materials and supporting the broader
manufacturing ecosystem.

Growth in modern trade and e-commerce channels

The fiscal year saw significant expansion of modern trade
and e-commerce channels. This rise in consumer demand
across these channels directly impacted the Company’s
home improvement and cleaning products, enhancing
market share and driving forward the penetration of its
various consumer product lines.

Discipline in operational execution

The Company effectively maintained a stable cash
position and managed costs efficiently across all business
operations. In response to inflationary pressures, strategic
price adjustments were implemented, while proactive cost¬
streamlining measures helped mitigate the impact of other
external constraints throughout the year.

Managing supply chain and raw material

During FY 24-25, the Company’s sourcing operations
continued to monitor the markets and optimised the costs
across the goods and services, including raw materials
procured.

The Company’s revenue from operations increased by 6.12%
at ' 444,555.63 lakhs for the financial year ended March
31, 2025 compared to ' 418,936.24 lakhs in the previous
financial year. The Profit Before Interest and Depreciation
is ' 83,986.87 lakhs compared to ' 83,736.63 lakhs for
the previous financial year. Profit Before Tax is ' 77,340.66
lakhs compared to ' 78,121.42 lakhs for the previous
financial year. The operating margin for the current year
is 18.60% compared to 19.62% for the previous financial
year. Total Comprehensive Income is ' 47,125.08 lakhs
compared to ' 58,208.36 lakhs for the previous financial
year. Export Sales is ' 2,377.99 lakhs for the financial year

ended March 31, 2025 compared to ' 1,643.76 lakhs in the
previous financial year, a increase of 44.67% due to higher
demand in the global market.

The Safety and Industrial business increased by 6.04%;
Transportation business increased by 1.65%; Health Care
business increased by 13.71%; and Consumer business
increased by 8.62%.

The Earnings Per Share (Basic and Diluted) of the Company
for FY 24-25 was ' 422.60 per share as compared to
' 517.90 per share in the previous financial year, with an
decrease of 18.40%. Detailed analysis of the performance
has been discussed in the Management’s Discussion and
Analysis Section of the Annual Report.

Scheme of Arrangement between the Company and
3M Electro & Communication India Private Limited

During the period under review, the Hon’ble National
Company Law Tribunal (NCLT), Bengaluru, approved the
Scheme of Amalgamation of 3M Electro & Communication
India Private Limited, wholly owned subsidiary of the
Company with 3M India Limited by its Order dated August
8, 2024. Pursuant to Sections 230 to 232 of the Companies
Act, 2013 read with the Companies (Compromises,
Arrangements and Amalgamations) Rules, 2016. In terms
of the Order, the Hon’ble NCLT has directed the Appointed
Date of the Scheme to be treated as April 1, 2023.

Information Technology

The Company operates an Information Security
Management System (ISMS), centered at the Head Office,
St. Paul, USA which is certified to the requirements of ISO/
IEC 27001: 2013 and has continued to meet the certification
requirements since 2014. In 2022, we added ISO/ IEC
27017:2015 requirements for cloud services. Enhancing
and optimising cybersecurity protection continues to
remain one of the top priorities. The Company conducts
monthly social engineering simulation assessments for
all users globally to increase their knowledge on how to
identify and report phishing attempts. Training is delivered
to employees worldwide on an annual basis to mitigate
human- based cybersecurity risk. Awareness efforts include
relevant communications disseminated on various channels
to promote a secure culture within 3M. Other frameworks
include NIST CSF (The National Institute of Standards and
Technologies, Cybersecurity Framework) which is a cross¬
industry standardised framework that several organisations
use to manage their cybersecurity programmes. NIST CSF
provides a common language and lifecycle approach to
understand, manage and express cybersecurity risks. It
helps identify and prioritise actions to reduce risk and aligns
policy, business and technology approaches to manage that
risk. The cybersecurity landscape is constantly evolving
and new threats and challenges emerge. The Company
consistently reviews and re-evaluates its capabilities to
identify and respond to these threats.

Supply Chain

Continued disruptions due to geopolitical tensions, natural
disasters, and labour shortages have affected supply
chains worldwide, leading to delays and increased costs.
Uncertainty due to tariffs adds to that complexity. Focus is
on building resilient supply chains and reducing complexity
by localisation.

Contribution to Exchequer

During FY 24-25, the Company paid various taxes on
account of its business/operation viz., CGST, IGST, Direct
Taxes and Customs Duty amounting to ' 144,689 lakhs in
aggregate.

Investments

Capital Investments during FY 24-25 was ' 5,542.02 lakhs
(Net of capital work-in-progress and capital advances) (PY
23-24: ' 3,141.42 lakhs).

MATERIAL CHANGES AND COMMITMENTS

There have been no material changes and/or commitments
affecting the financial position of the Company since the
close of the financial year and till the date of this report.

CHANGE IN THE NATURE OF BUSINESS

There were no changes in the nature of business during the
year under review.

MANAGEMENT DISCUSSION AND ANALYSIS

The Management Discussion and Analysis Report is annexed
herewith as “Annexure A”, which forms part of this report.

CORPORATE GOVERNANCE AND SHAREHOLDER
INFORMATION

A separate Report on Corporate Governance in terms
of Regulation 34 of Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (hereinafter referred as “Listing
Regulations”) along with a Certificate from a Practicing
Company Secretary regarding compliance to the conditions
stipulated under Chapter IV of the Listing Regulations is
provided as “Annexure B”, which forms part of this report.

BUSINESS RESPONSIBILITY AND SUSTAINABILITY
REPORT

A separate section on Business Responsibility and
Sustainability Report (BRSR) is annexed as “Annexure C”
and forms a part of this report as required under Regulation
34(2)(f) of the Listing Regulations.

SHARE CAPITAL EQUITY SHARES WITH
DIFFERENTIAL VOTING RIGHTS

The Company has only one class of Share, i.e. Equity Share
with a face value of ' 10 each.

The Authorised Share Capital as at March 31, 2025 is
' 117,650,700 (divided into 1,17,65,070 Equity Shares of
' 10 each).

The Issued/Subscribed and fully Paid-up Share Capital as at
March 31, 2025 is ' 112,650,700 (divided into 1,12,65,070
Equity Shares of ' 10 each).

Pursuant to the Scheme of Arrangement for amalgamation
of 3M Electro & Communication India Private Limited (‘3M
E&C’) with 3M India Limited (‘the Company’), as approved
and Order dated August 8, 2024 passed by Hon’ble
National Company Law Tribunal, Bengaluru, the authorised
share capital of 3M E&C (' 50 lakhs) is combined with the
authorised share capital of the Company. According, the
authorised share capital of the Company stands revised
(increased) by an amount of ' 50 lakhs i.e., revised from
' 112,650,700 to ' 117,650,700 (consisting of 1,17,65,070
shares of ' 10 each).

During the year under review, the Company has not issued
Equity Shares nor Shares with differential voting rights nor
granted Stock Options nor Sweat Equity.

LISTING WITH STOCK EXCHANGES

The Company has upto date paid the requisite listing fee
to the National Stock Exchange of India Limited and BSE
Limited where the Company’s Equity Shares are listed.

BOARD OF DIRECTORS

Appointment and Re-appointment:

The following appointment and re-appointment were made
during the financial year till the date of the report:

• The Board of Directors of the Company, on
recommendation of the Nomination and Remuneration
Committee, at its meeting held on May 28,2024
appointed Mr. Narumanchi Venkata Sivakumar
(DIN: 03534101) as an Additional Director in the
category Non-Executive Independent Director of the
Company with effect from July 15, 2024. The Members
of the Company have approved his appointment by way
of an Ordinary Resolution at the 37^th Annual General
Meeting held on August 6, 2024.

• The Board of Directors of the Company, on
recommendation of the Nomination and Remuneration
Committee, at its meeting held on May 28,2024
appointed Mr. Andrew Bennett (DIN: 10681735) as
an Additional Director in the category Non-Executive
Non-Independent Director of the Company with effect
from July 15, 2024. The Members of the Company
have approved his appointment by way of an Ordinary
Resolution at the 37^th Annual General Meeting held on
August 6, 2024.

• The Board of Directors of the Company, on
recommendation of the Nomination and Remuneration
Committee, on December 25, 2024 appointed
Ms. Kong Sau Wai Elizabeth (DIN: 10879418) as an
Additional Director in the category Non-Executive
Non-Independent Director of the Company with
effect from January 1, 2025. The Members of the
Company have approved her appointment by way of an

Ordinary Resolution through Postal Ballot notice dated
December 25, 2024.

• The Board of Directors of the Company, on
recommendation of the Nomination and Remuneration
Committee, at its meeting held on March 13, 2025
appointed Mr. Jayanand V. Kaginalkar (DIN:
07904558) as an Additional Director and Whole-Time
Director of the Company for the period from April 1,
2025 to March 31, 2027, categorised as Executive,
Non-Independent Director. The Members of the
Company have approved his appointment by way of an
Ordinary Resolution through Postal Ballot notice dated
March 13, 2025.

• The Board of Directors of the Company, on
recommendation of the Nomination and Remuneration
Committee, at its meeting held on March 13, 2025
appointed Ms. Jung Hyun Kim (DIN: 10954275) as a
Non-Executive and Non- Independent Director of the
Company with effect from April 1, 2025. The Members
of the Company have approved her appointment by
way of an Ordinary Resolution through Postal Ballot
notice dated March 13, 2025.

• The Board has unanimously appointed Ms. Radhika
Rajan (DIN: 00499485) (Non-Executive, Independent
Director of the Company) as the “Chairperson of the
Board”, with effect from March 26, 2025.

• Ms. Kong Sau Wai Elizabeth (DIN: 10879418) will retire
by rotation at the ensuing Annual General Meeting and
being eligible, offers herself for re-appointment. The
details of Ms. Kong Sau Wai Elizabeth are provided in
the Notice of the Annual General Meeting. The Board
of Directors recommend her re-appointment.

Resignation/ Retirement:

The following resignation/ retirement were accepted during

the financial year till the date of the report:

• Mr. Biren Gabhawala (DIN: 03091772) ceased to be
Independent Director of the Company upon completion
of his second term of 5 (five) on August 13, 2024.

• Mr. Amit Laroya (DIN: 00098933) resigned as a
Director of the Company with effect from November
12, 2024, due to impending retirement from the
Company.

• Ms. Vidya Sarathy (DIN: 01689378) resigned as a
Whole-time Director and Chief Financial Officer (Key
Managerial Personnel) of the Company with effect from
January 29, 2025 to pursue opportunities outside of
the Company.

• Mr. Bharat D. Shah (DIN: 00136969) ceased to
be Independent Director of the Company and as a
Chairperson of the Board upon completion of his
second term of 5 (five) on March 26, 2025.

• Mr. Andrew Paul Bennett (DIN: 10681735) resigned
as a Director of the Company with effect from April 1,
2025, due to various other professional commitments
and responsibilities within the 3M Group.

• Ms. Yun Jin (DIN: 09474323) resigned as a Director
of the Company with effect from April 1, 2025,
consequent upon her taking up a new role and
responsibility within 3M Group.

The Board place on record their sincere appreciation for
the valuable contributions made by Mr. Biren Gabhawala,
Mr. Bharat D. Shah, Mr. Amit Laroya, Ms. Vidya Sarathy,
Mr. Andrew Paul Bennett and Ms. Yun Jin, to the progress
of the Company during their tenure as Directors of the
Company.

KEY MANAGERIAL PERSONNEL (KMP)

Based on the recommendation of the Nomination and
Remuneration Committee and the Audit Committee, the
Board of Directors of the Company appointed Mr. Nikhil
Arora as Chief Financial Officer with effect from May 5,
2025. Mr. Prasad Balakrishnan, acted as the interim CFO
with effect from January 30, 2025 following the resignation
of Ms. Vidya Sarathy as a Whole-time Director and Chief
Financial Officer (Key Managerial Personnel) of the Company
with effect from January 29, 2025.

As at the financial year ended March 31, 2025, Mr. Ramesh
Ramadurai, Managing Director, Mr. Prasad Balakrishnan,
Interim Chief Financial Officer and Mr. Pratap Rudra
Bhuvanagiri, Company Secretary and Compliance Officer,
were the Key Managerial Personnel of the Company.

DECLARATIONS FROM INDEPENDENT DIRECTORS

The Company has received necessary declarations from
each Independent Director of the Company under the
provisions of Section 149(7) of the Companies Act, 2013,
that they meet the criteria of Independence laid down under
the provisions of Section 149(6) of the Companies Act,
2013 read with Listing Regulations. All the Independent
Directors have also confirmed under Regulation 16(b) of
SEBI (LODR) Regulations, 2015 that they are not Non¬
Independent Director of another Company on the Board of
which any Non- Independent Director of the listed entity is
an Independent Director. In the opinion of the Board, all
the independent directors have the integrity, expertise,
experience and proficiency necessary for the role.

DETAILS OF BOARD AND COMMITTEE MEETINGS
DURING THE FINANCIAL YEAR

During FY 24-25, Seven (7) Meetings of the Board were
held. The Company has Five (5) Board Committees. The
composition and number of Meetings attended by each
Director/Committee Member are furnished in the Corporate
Governance Report.

COMPOSITION OF AUDIT COMMITTEE

As on the financial year ended March 31, 2025, the Audit
Committee of the Company consisted of Two (2) Non¬
Executive Independent Directors and One (1) Non-Executive
Director and all of them have financial and accounting
knowledge. The Members of the Committee as on March
31, 2025, were Mr. N. V. Sivakumar (Chairperson),
Ms. Radhika Rajan and Ms. Yun Jin. The Committee
comprises majority of Independent Director. The Board
has accepted all the recommendations made by the Audit
Committee during the year under review.

NOMINATION AND REMUNERATION COMMITTEE
POLICY

The Board has, on the recommendation of the Nomination &
Remuneration Committee framed a Policy for the selection
and appointment of Directors, Senior Management and
other employees and their remuneration. The Policy is
available at https://www.3mindia.in/3M/en_IN/company-
in/about-3m/financial-facts-local/.

The composition, criteria for selection of Directors and the
terms of reference of the Nomination and Remuneration
Committee is stated in the Corporate Governance Report.

ANNUAL BOARD EVALUATION

The Board of Directors has carried out an annual evaluation
of its own performance, its Committees and Directors
pursuant to the requirements of the Companies Act, 2013,
Listing Regulations and as per the Guidance Note issued by
SEBI. Further, the Independent Directors, at their separate
meeting held during the year, reviewed the performance
of the Board, its Chairperson and Non-Executive Directors
and other items as stipulated under the Listing Regulations.
The manner in which the evaluation has been carried out
has been explained in the Corporate Governance Report.

DETAILS OF REMUNERATION OF DIRECTORS

Disclosure pursuant to Section 197(12) of the Companies
Act, 2013 read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel)
Rules, 2014, is annexed herewith as “Annexure D”, which
forms part of this report.

REMUNERATION RECEIVED BY MANAGING/
WHOLE TIME DIRECTOR FROM HOLDING OR
SUBSIDIARY COMPANY

During the year under review, no Commission or
Remuneration was paid to the Executive Directors from
Holding/ Subsidiary Companies.

DIRECTORS’ RESPONSIBILITY STATEMENT

To the best of the knowledge and belief and according to
the information and explanations obtained, your Directors
state in terms of Section 134 (5) of the Companies Act,
2013 (the Act):

(a) that in the preparation of the annual financial statements
for the year ended March 31, 2025, the applicable

accounting standards have been followed along with
proper explanation relating to material departures, if
any.

(b) that they had selected such accounting policies and
applied them consistently and made judgements and
estimates that are reasonable and prudent so as to
give a true and fair view of the state of affairs of the
Company as at March 31, 2025 and of the profit of the
Company for the year ended on that date.

(c) that they had taken proper and sufficient care for
the maintenance of adequate accounting records
in accordance with the provisions of the Act for
safeguarding the assets of the Company and for
preventing and detecting fraud and other irregularities.

(d) that they had prepared the annual financial statements
on a going concern basis.

(e) that they had laid down internal financial controls to
be followed by the Company and that such internal
financial controls are adequate and were operating
effectively.

(f) that they had devised proper systems to ensure
compliance with the provisions of all applicable laws
and that such systems were adequate and operating
effectively.

INTERNAL FINANCIAL CONTROLS AND THEIR
ADEQUACY

The Company’s Internal controls are aligned with 3M
Global’s internal control over financial reporting which is
based on the framework established by the Committee of
Sponsoring Organizations of the Treadway Commission
(COSO) in Internal Controls — Integrated Framework
(2013).

This framework essentially has two elements:

(1) structures, policies and guidelines designed to achieve
efficiency and effectiveness in operations and compliance
with laws and regulations and

(2) an assurance function provided by Internal Audit.

The Directors have laid down internal financial controls to be
followed by the Company and such policies and procedures
are adopted by the Company for ensuring the orderly and
efficient conduct of its business, including adherence to
Company’s policies, the safeguarding of its assets, the
prevention and detection of frauds and errors, the accuracy
and completeness of the accounting records and the timely
preparation of reliable financial information.

The Company has in place adequate systems of internal
controls commensurate with its size and the nature of
its operations. These have been designed to provide
reasonable assurance with regard to recording and
providing reliable financial and operational information,
complying with applicable statutes, safeguarding assets

from unauthorised use or losses, executing transactions
with proper authorisation and ensuring compliance of
corporate policies.

The Company, through its own Corporate Internal Audit
Department, carries out periodic audits to cover all the
offices, factories and key areas of business segments based
on the plan approved by the Audit Committee and bring out
any deviation to internal controls procedures. The Internal
Auditor functionally reports to the Audit Committee and
administratively to the Managing Director. The observations
arising out of audit are periodically reviewed and compliance
ensured. The summary of the Internal Audit observations
and status of the implementation is submitted to the
Audit Committee of the Board of Director. The status of
implementation of the recommendations is reviewed by
the Committee on a regular basis and concerns, if any, are
reported to the Board.

DISCLOSURE REGARDING FRAUDS

During the year under review, there were no frauds reported
by the Auditor to the Audit Committee or to the Board.

DEPOSITS

During the year under review, the Company has neither
accepted nor renewed any deposits from public within the
meaning of Section 73 of the Companies Act, 2013 read
with the Companies (Acceptance of Deposits) Rules, 2014.

PARTICULARS OF LOANS, GUARANTEES OR
INVESTMENTS

During the year under review, the Company has not
given any Loans, provided any guarantees or made any
Investments covered under Section 186 of the Companies
Act, 2013.

RELATED PARTY TRANSACTIONS

All Related Party Transactions (RPTs) which were entered
into during the financial year were on an arm’s length basis
and were in the ordinary course of business. All RPTs are
placed before the Audit Committee for approval. Prior
omnibus approval of the Audit Committee is obtained on
a yearly basis for the transactions which are foreseeable
and repetitive in nature. A statement exhibiting details of
all actual RPTs versus the approval is placed before the
Audit Committee for approval on a quarterly basis. A Policy
on RPTs as approved by the Board is available at https://
www.3mindia .in/3M/en_IN/company-in/about-3m/
fi na ncial -facts-local/.

The Company being a part of 3M conglomerate, has rights
to carry out the business within India and accordingly, has
access to the Group’s synergies, state of the art products
and technologies, competencies and “3M” brand name
which are very critical and essential to carry out its business
operations more efficiently in an increasingly globalised
and competitive scenario. As a part of its regular business,
the Company purchases, avails/renders services from/to
3M Company, USA and/or its group companies at arm’s
length basis. None of the Directors and the Key Managerial
Personnel has any pecuniary relationships or transactions
vis-a-vis the Company.

The RPTs are necessary, normal to business and play a
significant role in the Company’s business operations and
also form an integral part of the Company’s business.

The Company obtained the approval of the Members at the
37^th Annual General Meeting held on August 7, 2024 for
material related party transactions with 3M Company, USA
and 3M Innovation Singapore Pte Ltd for the period of 1 year

i.e., upto the ensuing 38^th Annual General meeting.

The Company proposes to seek approval of the Members
for material related party transactions to be entered by
the Company with 3M Company, USA at the 38^th Annual
General Meeting, commencing from the date of Members’
approval at the 38^th Annual General Meeting to the 39^th
Annual General Meeting. The estimated/proposed RPTs are
in the Ordinary and normal course of business and on Arms’
Length basis and accordingly the Board recommends the
Ordinary Resolution set forth in the Notice for the approval
of the Member.

Details of the related party transactions as required under
Section 134(3)(h) read with Rule 8 of the Companies
(Accounts) Rules, 2014, is annexed herewith as
“Annexure E”, which forms part of this report.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Company is committed to supporting communities in
India through education, community and environmental
programmes, with a focus on underrepresented and
underserved communities. The Company helps build
sustainable communities through strategic CSR investments
and partnerships around the geographical areas of
operation. Programmes are implemented in accordance
with the activities listed under Schedule VII of the Companies
Act, 2013. During FY 24-25, 58% of the CSR funds were
spent towards education programmes, 18% on community
programmes and 24% on environmental initiatives. The main
project interventions under each of the focus areas have
been highlighted below:

EDUCATION:

As a science-based company, 3M is motivated to support
equitable pathways to science and technology education.
During FY 24-25, the Company implemented a STEM
Scholarships programme for undergraduate girls, expanded
the existing STEM education programme to Government
schools in other locations and continued to support the
education of girl students in rural areas.

1. Project Nanhi Kali: Educating the Girl Child:

Since 2018, the Company has collaborated with the
K.C. Mahindra Education Trust to support girl child
education through their flagship programme, Project
Nanhi Kali. In the fiscal year 2024-25, the Company
continued its commitment by aiding the education of
2,851 girls across 189 Academic Support Centers
in the rural blocks of Ambegaon and Khed in Pune
district, Maharashtra. This initiative has implemented
several impactful interventions aimed at improving
learning outcomes and boosting the confidence of girls
to pursue higher education. Digital learning tools have
significantly enhanced academic performance, while
the integration of life skills and physical education into
the curriculum has promoted holistic development.
To encourage physical activity and sportsmanship,
Project Nanhi Kali organises the annual Toofaan Games
at the village, district, and national levels across all
its Academic Support Centers in India. This serves
as an inspiring testament to the growing confidence
and talent among these young girls. Furthermore,
the programme recognises the achievements of
its graduates to motivate current students. Last
year, 171 students who completed Class 10 were
honoured, with many receiving distinctions. The
initiative has also helped prevent school dropouts
stemming from household responsibilities or economic
pressures. Parents, witnessing their daughters thrive
academically, have become more supportive of their
aspirations for higher education, marking a significant
shift in community attitudes and a powerful outcome
of this ongoing initiative.

2. 3M Wonder Tinkering Labs Programme to encourage
and promote Science:

The Company has maintained its investment in the
Wonder Tinkering Lab initiative that started in fiscal
year 2022-23. Officially launched in 2023 in Pune,
the programme has now extended to Bengaluru and
Ahmedabad. Collaborating with the Learning Links
Foundation, it seeks to inspire future innovators in 30
government schools across these cities.

These labs serve as dedicated maker spaces in
government schools, allowing over 8000 students
from grades 5 to 10 to engage hands-on with STEM
concepts. They help students build essential skills such
as problem-solving, critical thinking, and collaboration
through project work and prototype development that
addresses real-world challenges. Under the guidance
of Innovation Coaches, students develop prototypes
of their models to showcase at interschool science
carnivals and the Annual Science Fair. Additionally', they
visit the Company’s manufacturing and R&D campuses
to gain exposure to a professional environment. Over
60 teachers are actively involved, equipped with the
skills to integrate STEM learning into their classrooms,
ensuring sustained impact over time. Students have
developed over 400 unique projects, showcasing their
creativity and problem-solving abilities. These projects
reflect their growing capacity to innovate and apply
STEM knowledge in meaningful ways.

3. Pragyaan Girls in STEM Scholarships Programme:

The Company has reinforced its commitment to
STEM education by introducing the Pragyaan Girls in
STEM Scholarships for the FY 23-24. In partnership
with the Foundation for Excellence, this initiative
aims to empower 200 academically talented girls
from underprivileged backgrounds by providing them
with scholarships and essential skills for future job
readiness. The programme goes beyond just financial
assistance; it also offers holistic development through
a series of quarterly sessions led by 3M volunteers.
These sessions are designed to ensure that students
acquire academic knowledge and practical skills vital for
success in STEM careers. Moreover, the programme
provides industry exposure by facilitating interactions
with women leaders in STEM. These interactions offer
students broader perspectives on the diverse career
opportunities available in STEM and introduces them
to successful role models who have established strong
professional careers.

COMMUNITY:

Community initiatives include interventions addressing
specific community needs related to health, infrastructure,
skilling and livelihood in underserved communities, in and
around the geographical areas of operation or the Company’s
response to natural disasters.

1. We. Are All Us Programme.

In March 2024, the Company launched the We Are
All Us programme to support the Gender and Sexual
minorities in Bengaluru, reinforcing its commitment to
equality and inclusion. In partnership with Sangama,
a leading NGO for gender and sexual minority rights,
and Solidarity Foundation, the initiative established
a Community Resource Center (CRC-Help Desk)
— a safe space that offers essential services and
support. The CRC has facilitated providing access
to 500 community members to social security
services; 388 received healthcare access, including
several members who received self-identity support
through regular meetings and awareness sessions.
40 members received skill development training, out
of which 12 have been placed in various roles. Over
5000 individuals have participated in awareness and
sensitisation sessions. The Community Resource
Center serves as a one-stop hub for resources that
enable community members to lead safer, healthier,
and more empowered lives.

2. Smile on Wheels Programme: Mobile Health Clinics
in Aspirational Districts.

The Company is committed to enhancing community
health and well-being through its impactful partnership
with the Smile Foundation. This collaboration
focuses on providing primary healthcare services to
underserved and remote rural populations across India.
Specially equipped mobile medical vans are deployed
in four identified districts: Siddharthnagar in Uttar

Pradesh, Balangir in Odisha, Goalpara in Assam, and
Ranjangaon in Maharashtra. These regions have been
selected based on their healthcare access challenges
and developmental needs. The mobile clinics offer
a combination of preventive and medical services.
The vans are fully equipped to provide general health
check-ups, maternal and child healthcare, diagnostic
tests, and health education sessions. The core idea
is to deliver “health at the doorstep”, particularly for
communities where traveling to the nearest hospital
or clinic may be prohibitively difficult due to distance,
lack of transportation, or financial constraints. Since
the launch of the programme in September 2021,
this mobile healthcare initiative has made a significant
impact, providing medical attention to over 2,35,644
people.

ENVIRONMENT:

Our environment commitments extend to our communities
through interventions to promote water conservation in
water-stressed areas and transitioning to renewables in rural
areas. We are working with local communities to promote
water recycling and conservation since our manufacturing
sites are located in water stressed regions. Ultimately, we
aim to help these communities build and manage their own
water efforts in the future.

1. Community Water Resilience Programme:

Water scarcity is a significant challenge across many
regions of India, especially in drought-prone areas
where communities rely heavily on rainfall for agriculture
and daily needs. Considering this urgent issue, the
Company recognised water usage and availability as
an environmental risk. Using the Aqueduct™ Water
Risk Atlas (Aqueduct 3.0) to evaluate its manufacturing
locations, the Company discovered that its plant
in the Shirur block of Ranjangaon, Pune, was in a
high water-stress zone. With average annual rainfall
below 550 mm, the region is susceptible to drought.
Kendur, one of the villages amongst 11 that were
identified as high water-stressed, has a water stress
score between 4 and 5 on the Water Risk Atlas. In
response, the Company launched a water conservation
and management initiative in collaboration with the
Water for People India Trust to enhance regional water
sustainability, support local farmers, and promote
efficient agricultural practices. Hydrogeological
studies were conducted, and Kendur was also chosen
as the pilot site due to its unique topography, which
features hilly ridges and narrow plateaus that are
suitable for watershed development. Launched in the
first quarter of 2024 (January-March), the project
implemented a ridge-to-valley watershed approach
that included rainwater harvesting, desiltation,
and the construction of deep contour trenches,
sunken ponds, check dams, and gabion structures
designed to capture and store rainwater during the

monsoon season and reduce runoff. In addition
to developing physical infrastructure, the project
emphasised community engagement and training in
sustainable water and agricultural practices amongst
farmers. These efforts aimed to build local capacity
for managing water resources and adapt to climate
variability. During the July-August 2024 monsoon,
the region experienced favourable rainfall, and the
interventions successfully captured significant volumes
of water. The local farming community reported
improved access to water for agriculture, attributed
to enhanced rainwater harvesting and groundwater
recharge. The programme plans to extend similar
initiatives to cover all 11 additional water-stressed
villages over the next 3 to 5 years. This expansion
will include community engagement, training in
climate-resilient farming techniques, and awareness
programmes for sustainable water use. Approximately
1,100 households and over 4,800 individuals in Kendur
village benefited from improved access to water for
agriculture, domestic use, and drinking. This initiative
lays the foundation for lasting, community-led water
sustainability and helps rural populations better adapt
to changing environmental conditions.

2. Rainwater Harvesting at 3M Wonder Tinkering Labs
in Bengaluru

In line with its commitment to promoting water
conservation, the Company has partnered with
Biome Environmental Trust to implement a rainwater
harvesting system at four Government schools with
the ongoing 3M Wonder Tinkering Labs initiative,
located in Anekal, Bengaluru. This programme
extends beyond just infrastructure; it actively engages
teachers and students in understanding, managing,
and taking ownership of the rainwater harvesting
system. This approach ensures its long-term
effectiveness, encourages responsible usage, and
reduces dependency on groundwater. The partnership
between the Company and Biome is helping schools
in Anekal transform into resilient, water-conscious
learning environments, equipping the next generation
to think critically about environmental issues and take
meaningful action.

3. Solar Electrification of Wonder Tinkering Labs in
Pune

To address energy shortages in underserved
communities, the Company teamed up with the
SELCO Foundation to implement solar electrification
projects at all 10 3M Wonder Tinkering Labs in Pune.
This initiative aims to combat frequent power outages
that disrupt the learning environment and hinder
access to quality education. By introducing a reliable
and clean energy source, the project seeks to provide
uninterrupted learning experiences to students while
promoting sustainability and energy equity in schools.

Each solar system installed is tailored to meet the
specific needs of the respective schools, ensuring
optimal performance and efficiency. Additionally, the
systems come with a 5-year warranty after installation,
providing ongoing maintenance support and peace of
mind for the schools.

The Annual Report on CSR activities is annexed herewith as
“Annexure F”, which forms part of this report.

DETAILS OF REMUNERATION OF EMPLOYEES

Pursuant to Section 197(12) of the Companies Act, 2013
read with Rules 5(2) & (3) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014,
a statement showing details of the top Ten (10) employees
in terms of remuneration drawn during the financial year
and other employees of the Company employed throughout
the year and employees employed for part of the year who
were in receipt of remuneration of ' 1.02 crores or more
per annum and ' 8.50 lakhs or more per month respectively
is annexed herewith as “Annexure G”, which forms part of
this report.

ENERGY CONSERVATION, TECHNOLOGY
ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO

The Information on Conservation of Energy, Technology
Absorption and Foreign Exchange Earnings and Outgo
stipulated under Section 134 (3) (m) of the Companies Act,
2013 read with Rule 8(3) of The Companies (Accounts)
Rules, 2014 is annexed as “Annexure H”, which forms part
of this report.

RISK MANAGEMENT POLICY

The Company has a Risk Management Policy pursuant to the
requirements of Listing Regulations. The details of the Risk
Management Committee and its terms of reference are set
out in the Corporate Governance Report forming a part of
the Board’s Report.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY
THE REGULATORS OR COURTS

There were no significant and material orders passed during
FY 24-25 by the Regulators/Courts which would impact
the going concern status of the Company and its future
operations.

INSOLVENCY AND BANKRUPTCY CODE, 2016

There was no application made nor did the Company receive
notice of any proceedings against it as pending under the
Insolvency and Bankruptcy Code, 2016 during FY 24-25.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has an effective vigil mechanism by way of the
Business Conduct Concern Reporting Policy (Whistle Blower
Policy) for upholding 3M’s Code of Conduct. The details
of the said Policy are stated in the Corporate Governance
Report and also available at https://www.3mindia.in/3M/
en_IN/company-in/about-3m/financial-facts-local/. During

the year, the Company reached out to employees through
e-learning modules to create greater awareness with respect
to Fair Competition and Anti-Bribery and Corruption. This
has helped in achieving a high level of engagement and
compliance among the employees.

STATUTORY AUDITOR

Messrs. BSR & Co. LLP, Chartered Accountants, Bengaluru
(ICAI Firm Registration No. 101248W/W-100022) were
re-appointed as the Statutory Auditor of the Company at
the 34^th Annual General Meeting held on August 26, 2021
to hold office for a second term of five (5) years i.e. from
the conclusion of the 34^th Annual General Meeting till the
conclusion of the 39^th Annual General Meeting to be held
in the year 2026.

COST AUDIT

Pursuant to Section 148 of the Companies Act, 2013 read
with the Companies (Cost Records and Audit) Rules, 2014,
the cost audit records maintained by the Company in respect
of the products covered under the said rules are required to
be audited by a Cost Accountant. Accordingly, the Board
of Directors of the Company at its Meeting held on May
28, 2025 on the recommendation of the Audit Committee,
approved the re-appointment of Messrs. Rao, Murthy
& Associates, Cost Accountants, Bengaluru, (Firm’s
Registration No. 000065), to conduct the audit of the cost
records of the Company for FY 25-26 at a remuneration
of ' 575,000 (Rupees Five lakhs Seventy-Five Thousand
only) plus taxes as applicable and out of pocket expenses
at actuals.

The Audit Committee has also received a certificate from
the Cost Auditor certifying their independence and arm’s
length relationship with the Company.

As required under the Companies Act, 2013, the
remuneration payable to the Cost Auditor is required to be
placed before the Members at the General Meeting for their
ratification. Accordingly, a resolution seeking ratification
of the remuneration payable to Messrs. Rao, Murthy &
Associates, Cost Accountants, Bengaluru is included in the
Notice convening the Annual General Meeting.

For the financial year ended March 31, 2024, the Cost Audit
Report submitted by Messrs. Rao, Murthy & Associates,
Cost Accountants, Bengaluru, was filed with the Ministry
of Corporate Affairs, well within the due/extended date.
Messrs. Rao, Murthy & Associates, has confirmed the cost
records for the financial year ended March 31, 2024 are free
from any disqualifications as specified under Section 141(3)
and proviso to Section 148(3) read with Section 141(4) of
the Act.

SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 of the Companies
Act, 2013 and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014,
the Company had appointed Mr. Parameshwar G. Bhat,
Company Secretary in practice (FCS: 8860, CP: 11004) to
undertake the Secretarial Audit of the Company for FY 24¬
25. The Report of the Secretarial Audit Report is annexed
herewith as “Annexure I”, which forms part of this report.

The Company had undertaken an audit for FY 24-25 for
all applicable compliances as per SEBI Regulations and
Circulars/Guidelines issued thereunder. The Annual
Secretarial Compliance Report has been submitted to the
stock exchanges within 60 days of the end of the financial
year.

EXPLANATIONS IN RESPONSE TO AUDITORS’
QUALIFICATIONS

During the year under review, there were no qualifications,
reservations or adverse remarks made by the Statutory
Auditors / Secretarial Auditor in their respective Reports.

COMPLIANCE WITH SECRETARIAL STANDARDS

During FY 24-25, the Company has complied with the
applicable Secretarial Standards issued by the Institute of
Company Secretaries of India.

ANNUAL RETURN

Pursuant to the provisions of Section 134(3)(a) and Section
92(3) of the Act read with Rule 12 of the Companies
(Management and Administration) Rules, 2014, the draft
of the Annual Return in Form MGT 7 of the Company for
the financial year ended March 31, 2025 is uploaded on the
website of the Company and can be accessed at https://
www.3mindia .in/3M/en_IN/company-in/about-3m/
financial-facts-local/.

DISCLOSURES UNDER THE SEXUAL HARASSMENT
OF WOMEN AT THE WORKPLACE (PREVENTION,
PROHIBITION & REDRESSAL) ACT, 2013

The Company has a Prevention of Sexual Harrasment Policy
in line with the requirement of the Sexual Harassment
of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013. The Policy is available on the website
of the Company https://www.3mindia. in/3M/en_IN/
company-in/about-3m/financial-facts-local/. Internal
Complaints Committees (ICC) have been set up to redress
complaints received regarding sexual harassment.

Status of Complaints during FY 24-25:

1. Number of complaints of sexual harassment received
During FY 24-25: 3

2. Number of complaints disposed off during FY 24-25: 2

3. Number of cases pending at the end of the financial
year: 1 (90 days enquiry period spilled into April 2025)

4. Number of workshops or awareness programmes
carried out: 7

5. Remedial measures taken by the Company:

• A mandatory interactive virtual training session
was conducted for employees on “Sexual
Harassment at the Workplace”. This session
reinforced the understanding of what constitutes
sexual harassment, complaint process and
behavioral do’s and don’ts at the workplace.

• Location specific trainings were imparted to
the plant employees in vernacular languages to
reinforce their understanding of POSH Act and the
rights and responsibilities of employees pertaining
to the Act.

• In-depth capacity building training was conducted
for all Internal Committee member Train the Trainer
session was conducted for all Internal Committee
members. This session equipped participants with
the knowledge & resources to conduct general
awareness sessions at their respective locations.

HUMAN RESOURCES

During FY 24-25, the Company undertook many initiatives
to increase organisational capability and productivity to be
value driven and future ready. As on March 31, 2025, the
Company had an employee strength of 1,213 personnel.

OTHER DISCLOSURES

During the financial year under review, the Company:

1. has not bought its own Shares nor has it given any loan
to the employees (including KMPs) of the Company for
purchase of the Company’s Shares.

2. has not issued any Shares to trustees for the benefit of
employees.

3. there was no revision in the Financial Statements.

ENVIRONMENT, HEALTH AND SAFETY

3M is committed to the safety, health, and well-being
of its employees. The Company continuously evaluates
opportunities to raise safety and health standards, training
site leaders and conducting site visits to identify and
manage environmental health and safety risks; evaluating
compliance with regulatory requirements and 3M policy;
and maintaining a global security operation for the protection
of facilities and people on 3M sites.

The Company has three (3) manufacturing plants
operating in India. All three plants have Environmental
Management Systems (EMS) certified to the ISO 14001:
2015 environmental management systems standard and
ISO 45001:2018 for Occupational Health and Safety
Management System. We continue to be guided by our
global Responsible Operations framework, which provides
consistency and structure for implementing programmes
and helps us be proactive to mitigate risks.

1. Journey to Zero

In 2024, 3M launched a safety campaign focusing
on advancement of our safety culture. As one part of
the campaign, we set reduction goals for injury, fire,
and spill incidents. The Journey to Zero campaign
challenges all 3M employees to do their part to help
achieve those goals.

Core Safety programmes to ensure the Journey to
Zero are driven through Priority initiatives for with
special focus on Machine Guarding, Electrical Safety,
Powered industrial vehicles, fire protection and

prevention, Lock out and Tag out, Work at heights,
Hearing protection, ergonomics etc.,

We strongly believe:

• The behavior of every individual defines the
culture of the organisation.

• All accidents and injuries are preventable.

• Everyone in the organisation is accountable for
their safety performance.

Some Safety initiatives in 2024 to promulgate Safety in
workplaces were as follows:

a. Investments to improve EHS infrastructure :

Multiple campaigns brought focus to areas
where hazards and incidents are most frequent.
These campaigns focused on increased hazard
identification and reduction and stronger
awareness in several key topics such as Hand
cut Safety, Slips Trips, Falls, Forklift safety,
Fire Protection etc. Investments wereimproved
infrastructure and provided resources to drive the
right behavior and actions on the shop floor.

b. EHS See & Act and Field Verification of Critical
Controls (FVCC):

3M’s EHS Culture excellence programme “See and
Act” which follows the concept of FVCC - Field
verification of critical controls, helped to continue
build strong EHS Culture throughout 2024. The
focus is not just the identification of Unsafe Acts
and Conditions but to understand the root cause
of their occurrence.

FVCCs allow us to intentionally build systems
around workers that verifies the presence of
controls and absorbs normal worker drift, allowing
our people to “fail safely.”

We use FVCC to ask better questions to the
workforce, to better understand the risk and
ensure we have proper controls in place to protect
our people.

c. EHS Commitment:

EHS Commitments are a simple way to describe
3M’s key environment, health, and safety
expectations based on 3M’s Code of Conduct,
Policies, and Standards. There is a shared
responsibility for EHS and to keep each other safe.

Worker safety, health, and wellbeing are
important to 3M, and the Safety Always campaign
was implemented across all facilities. Safety is
each worker’s responsibility. Since the launch of
Safety Always we have seen a reduction in Slip-

trip and fall. The Company strives to continuously
improve performance and foster a safety culture
that engages the entire workforce to help prevent
incidents, injuries, and occupational illnesses.

d. Environmental Health and Safety Policy:

A new Environment, Health and Safety Policy
was developed and shared across the company.
This policy further integrates the company’s intent
towards safety, health & environmental aspects
to not only internal operations but also among the
wider communities within which the company
operates.

e. Recognition:

The Company’s facility in Electronic City,
Bengaluru had received State Level Recognition
from Department of Factories, Boilers, Industrial
Safety and Health, Government of Karnataka.

The Bengaluru facility hosted a Seminar organised
by the Department as part of Disaster Prevention
Day which was attended by industries from
different parts of the state as well as expert
speakers from academia & industry. The Company
was also invited to share our views on Personal
Protective Equipment to all the industry leaders
at this event.

2. RESPONSIBLE OPERATIONS DRIVING EHS CULTURE
ACTIVATION

Driving Responsible operations was implemented
globally in 2023 and continued into 2024, to reduce
injuries and incidents and drive right behaviors to set
EHS performance to world class levels. The path of
EHS excellence through Responsible Operations was
attained by drawing up an EHS Facility Plan focusing
on three key areas,

a. Leadership Behavior & Accountability

b. Standards & Systems

c. Employee Training & Engagement

The Company is committed to managing risks
responsibly and has refined its management system by
focusing on Leadership, Behavior and Accountability
as the cornerstones to drive Responsible operations.

3. EHS MANAGEMENT STANDARDS AND SYSTEMS

The 3M Environment, Health, and Safety Management
Standard (EHS-MS) provides the basis to address
EHS risks and compliance obligations applicable to
all workers within 3M operations. Workers at all 3M
locations understand, manage, and mitigate their
EHS risks and comply with all applicable 3M and local

government requirements. All 3M manufacturing,
Research & Development, and other locations maintain
EHS self- assessment records of the elements that
apply to their respective operations and workers.

Technology is important in achieving excellence and
EHS is no exception to this. Some of the Systems
and tools to enable EHS management programme
implementation are:

• CAMMS: A portal which is customised to 3M
requirements to track and monitor applicable EHS
compliance and legal obligations.

• EHS 360: Used for documenting, reporting,
investigating and action item tracking related to
workplace incidents, potential hazards or near
miss events.

• EHS Global Audits: All our three manufacturing
plants have successfully completed 3M’s EHS
Global Audits based on the complexity of the site,
without any primary audit finding.

• Guarding and Prioritization (GAP): The Guarding
Assessment and Prioritization (GAP) tool was
implemented at all the Company Sites. This
provides a systematic method for assessing risk to
workers from machine hazards. All the Company
Facilities implemented GAP tool to analyze the risk
posed from machine operations.

• Management of Change (MOC): Revised MOC
was implemented at the Company Sites which
went online to track all the changes made at
facilities, processes, materials, equipment,
procedures and/or utility. This helps to ensure
changes do not inadvertently introduce new
hazards or unknowingly increase the risk of
existing hazards.

To mitigate Environmental Risk the following systems
are utilised in the Company:

• Environmental Inventory Toolkit: EIT is a set of
tools and templates to maintain a consistent
inventory of foundational manufacturing process
and equipment information, specifically Process
Flow Diagrams (PFD) and Equipment Inventory (EI)
to enable various EHS related programmes.

• Pollution Prevention Pays (3P): The Pollution
Prevention Pays (3P) Programme began in 3M,
USA in 1975 with the goal of eliminating or
reducing sources of pollution in 3M products and
processes. The programme has been recognised
the world over for its innovation in environmental
management by focusing on pollution prevention,
rather than pollution control.

4. ENVIRONMENT

The Company follows the Environmental Management
programme framework which comprises 18 elements
mainly focusing on Air Quality, Water Quality, Land
Management, Waste management. All these are
tracked through an Environmental target database.

a. Air Quality Management:

The purpose is to identify the requirements
necessary to minimise the impact to air quality/
atmosphere by having right programmes with
sufficient resources in place. The following are
some of the programmes for Air quality at the
Company’s sites:

• Air Emission Control Operation and
Maintenance

• Air Emission Reduction Programme (AERP)

• Greenhouse Gas Management

• Refrigerant Management

• Thermal Oxidiser Optimisation

b. Water Quality:

The Company embraces commitment to water
conservation for our operations, following a Global
Water Stewardship Standard. 3M operations
worldwide manage their water resources through
compliance with regulatory requirements,
conservation, and reuse, reporting water usage
internally as well complying with the local laws.
Our Water framework focuses on the following:

• Water Management Standard (WMS)

• Stormwater Management

• Wastewater Emission Control Operation and
Maintenance

• Wastewater Management

c. Land Management:

Ensuring operations do not impact the land, and
in order to prevent possible contamination 3M
has deployed the following programmes across
the globe. Aqueous Film Forming Foam (AFFF)
management.

• Asbestos management

• Sewer management

• Spill and release prevention

• Underground and Aboveground Storage
Tanks

d. Waste management:

The Company practices waste minimisation
whenever practical to reduce the volume and
hazards of waste materials generated. All 3M
locations are required to manage all returned,
recycled, and waste materials from the time of
generation until reused, recycled, treated, or
disposed. The programme includes all the Onsite
Waste Management & Offsite Waste Management
Processes including but not restricted to
Activities, Processes Products & Services. The
Waste management programme encompasses the
following:

• Waste collection, Storage, Disposal,

• Waste Identification, Characterisation and
Documentation

• Identification of applicable regulations and
requirements & ensuring compliance

• Compliance with 3M Environment policies,
standards, guidelines and procedures

• Proper handling, labelling, and storage of
wastes

• Preparation of waste transportation
documents, necessary approvals and Record
keeping

• Training programmes

• Audit and Approval of Waste Management
Companies

• Ensuring Contracts and Agreements for
waste disposal are in place for FY 24-25
Environmental Waste management initiatives
are as follows:

• Installation of Retrofit Emission Control
Devices for all Diesel generators
supporting the manufacturing
operations at Pune, Ahmedabad and
Bengaluru much ahead of the regulatory
enforcement.

• Replacement of the old Diesel Generator
with a brand-new DG in Bengaluru.

• Reduction of waste in operations
through design yield improvement and
packaging material reductions at sites.

• Water Management improvements to
maintain Net Water Balance to achieve
“Zero Liquid Discharge (ZLD) facility.

• Use of MEE (Multiple Effect Evaporator,
MEE) with capacity 10 CMD installed for
RO rejects with recycling option.

e. Industrial hygiene:

The Company has placed a competent industrial
hygienist at each site, to work in close collaboration
with 3M corporate teams to prioritise monitoring
health-related issues at individual sites.

• Critical evaluation of various hazards ranging
from chemical exposure to physical hazards
like noise, heat, illumination and ergonomic
standards.

• Proactive preventive approach of 3M
teams at regional facilities have enabled
mechanisation of certain activities and
improvements in ventilation systems.

• All three sites conducted Heat Stress
assessments in the peak summer period and
identified additional improvements needed.
These are being followed with long-term
and short-term actions with management
support.

5. ERGONOMICS

3M’s Ergonomics Risk Reduction Process is a
comprehensive global programme that identifies
and assesses ergonomic risk in industrial and office
workspaces. The successful application of ergonomics
promotes worker health and well-being, improves
quality and increases production, by providing
employees with appropriate tools, workstations, and
working environments.

3M requires that all manufacturing sites complete an
ergonomic footprint assessment and establish yearly
reduction targets. All 3 sites in India have completed
ergonomics risk reduction projects to meet corporate
requirements.

6. HEALTH AND WELLNESS EFFORTS

3M believes in the philosophy that “your health
matters as much as your work”. In 2024 there were
several initiatives that promoted health & wellness
of employees at the factories including an elaborate
Medical Surveillance Programme. This included:-

• Vision tests were conducted at all sites.

• Audiogram was conducted at Ranjangaon site,. in
a calibrated audiometric booth for external noise
cancellation.

• Skin evaluation, Complete Eye test and Chest
X-ray are done to rule out Tuberculosis as a
part of Pre- Employment Medical Check Up at
Ranjangaon site, for new hires to Microbiology
Lab.

• A medical checkup is done for Food Handlers at
all sites.

• A health checkup of the Emergency Response
Team members is conducted at Bengaluru site and
employee cab drivers are provided with Vision and
hearing checkups.

AWARDS AND RECOGNITION

• The Company was ranked 46^th among India’s top 250
listed companies for outstanding ESG performance,
as assessed through BRSR disclosures by BW
Businessworld.

• The Company’s Automotive & Aerospace Solutions
Division received the “Special Recognition” and
“Innovation Recognition” from its customers for our
strong support and all-round contributions across
operational and service aspects.

• The Company’s manufacturing site at Electronics City,
Bengaluru received the prestigious award for “zero-
defect deliveries in 2023-24”. This highlights our
operational rigour.

• The Company’s manufacturing site at Electronics City,
Bengaluru was awarded by Government of Karnataka
under Large Industry Category for maintaining high
standards in workplace safety and compliance. This
state-level recognition is the highest honor bestowed
on manufacturing workers for their focus on safety at
the workplace.

• The Company received appreciation for conducting
impactful training sessions on best practices for cable
accessories installation from its customers.

• 3M Company, USA i.e., the Company’s Holding
Company, was awarded the Health & Safety Award at
the 2024 Global Excellence Assembly (GEA) Awards.
This award highlights 3M’s extensive contributions to
health and safety products and solutions, especially
during the COVID-19 pandemic.

• 3M Company was recognised as a finalist in the
Science and Technology category of Fast Company’s
2024 World Changing Ideas Awards for Sorbent-on-a-
roll (SOAR) for direct air capture, a materials science-
based climate tech solution developed in partnership
with Sante.

Over the year, the Company employees received
internal accolades for excellence in sales, marketing,
technical and support functions, winning recognition
from 3M Company, as well as Business and Area level
awards.

ACKNOWLEDGEMENT

Your Directors thank and acknowledge with gratitude the
co-operation, assistance and support received from the
Central Government, State Governments of Karnataka,
Maharashtra and Gujarat, Bankers, Shareholders,
Dealers, Vendors, Promoters of the Company and all other
Stakeholders.

The Directors also wish to place on record their sincere
appreciation and gratitude towards the contribution made
by every employee.

On behalf of the Board of Directors

Ramesh Ramadurai Jayanand V. Kaginalkar

Managing Director Whole-time Director

DIN: 07109252 DIN: 07904558

Place: Bengaluru
Date: May 28, 2025