Shirpur Gold Refinery Ltd. (SHIRPUR-G.NS)

Shirpur Gold Refinery Ltd. (SHIRPUR-G.NS) — VMCI valuation read

Shirpur Gold Refinery Ltd. sits at VMCI 39/100, with the Basic Materials sector median at 50. That 11-point spread is the first thing to note on SHIRPUR-G.NS: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on SHIRPUR-G.NS are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on SHIRPUR-G.NS: SHIRPUR-G.NS trades at 22.0x earnings, 22% above the Basic Materials median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Basic Materials median (10.0%). The Risk read: net debt to EBITDA of -0.9x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

SHIRPUR-G.NS fell 1.8% over the trailing 7 days, with a +2.0% read on a 30-day basis.