Man Industries swings Rs 758 to 808; exit line Rs 793

MANINDS Man Industries (India) Limited’s shares traded between Rs 757.70 and Rs 808.00 on 6 November, and the last price I can find sits below the Rs 793 level I set on 8 October. No Q2 FY27 result date is set. Q1 FY27 numbers (consolidated, last reported, 11 August): Revenue: Rs 1,053 crore, up 41.9% from Rs 742 crore EBITDA: Rs 155 crore; margin 14.6%, on the company’s total-income basis PAT: Rs 61.4 crore, up 122% from Rs 27.6 crore Order book: about Rs 4,100 crore after the Rs 600 crore orders of 10 September No company event explains the range. The exchange pages I could reach list no notice from late October to 9 November, and I found no Q2 date. Last year the board met on 13 November, so a result could come soon after this. Man Industries [MANINDS][***** last traded at Rs 791.56 on StockGro, the last session’s price, down 6.6 percent over a month. P/E 29.1; sector P/E near 18. My view: exit, not hold. My 8 October level was a close below Rs 793. The last StockGro price sits below it. The 6 November NSE close is not confirmed, and the intraday range runs through the line. Until an NSE close says otherwise, the exit stands and there is no fresh money. Fresh money waits for the Q2 FY27 result and a close back above Rs 857.85, the 8 October close, to show the stock has recovered what it lost. What would change my mind: a Q2 EBITDA margin at or above 13 percent, the floor of the guided band, with the price holding above Rs 857.85. Next trigger: Q2 FY27 results, board date not sourced. Disclosure: Vijay Kumar Gupta, SEBI Registered Research Analyst, INH000020226, Vijay Gupta Advisory. SEBI registration and NISM certification do not guarantee performance or assure returns. Securities markets are subject to market risks. No holdings in the subject company.