Surana Solar Limited (SURANASOL.BO)

Surana Solar Limited (SURANASOL.BO) — VMCI valuation read

Headline read on SURANASOL.BO: VMCI of 39/100 versus a Energy sector median of 50. The 11-point below-median position is what makes Surana Solar Limited a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on SURANASOL.BO: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on SURANASOL.BO: value (SURANASOL.BO trades at 21.0x earnings, 17% above the Energy median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Energy median (10.0%)), and risk (net debt to EBITDA of 0.1x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Energy 12.0x baseline.

SURANASOL.BO fell 2.4% over the trailing 7 days, with a -11.6% read on a 30-day basis.