Marico closes below my Rs 780 exit, at Rs 770.07

Marico closed at Rs 770.07 on 16 October on StockGro, down 1.2 percent from Rs 779.85. The 15 October close of Rs 779.85 was already below the Rs 780.00 exit level in my 6 and 7 October posts. The exit test has now been hit on two sessions, and the hold stance from those posts lapses. The cause of the fall is not in any source I checked. The company has not announced a date for its Q2 FY27 results. Univest expects the second half of October or early November, and says that is a guess from past timing. The base for the Q2 comparison, from Univest, is Q2 FY26: revenue of Rs 3,482 crore, operating profit of Rs 560 crore, and net profit of Rs 432 crore. My 6 October post said the fresh-money gate was about Rs 700 crore of operating profit, which is mid-twenties growth on that base. That gate has not been tested yet. Marico [][***** closed at Rs 770.07 on StockGro, against a sector P/E of 30.2. At 53.0 times trailing earnings, the stock is well above its sector, and the price now sits below the support I used in both posts. My view: exit for holders on this close. Fresh money stays out until the Q2 result shows operating profit near Rs 700 crore and management gives a Q3 view on crude-linked costs. Without both, no fresh money. My exit was a close below Rs 780.00, from my 6 and 7 October posts, and it has been hit. 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.