Is Agarwal Indl. overvalued or undervalued?

As of 19 November 2025, Agarwal Industrial has moved from a very attractive to an attractive valuation grade. The company is currently considered undervalued, with a PE ratio of 14.17, an EV to EBITDA of 8.86, and a Price to Book Value of 1.80. In comparison to its peers, T N Petro Products has a PE ratio of 9.81, while Manali Petrochem trades at a significantly higher PE of 22.83, indicating that Agarwal Industrial offers a more favorable valuation relative to some competitors.
Despite recent stock performance lagging behind the Sensex, with a year-to-date return of -38.03% compared to the Sensex's 9.02%, the company's fundamentals suggest potential for recovery. The ROCE stands at 11.92% and ROE at 12.68%, further supporting the argument for its undervaluation in the current market context.