Is Alpex Solar overvalued or undervalued?

As of 4 November 2025, Alpex Solar's valuation grade has moved from very expensive to expensive, indicating a slight improvement in its perceived valuation. The company is currently considered overvalued based on its financial ratios. Notably, Alpex Solar has a PE ratio of 37.65, an EV to EBITDA of 23.21, and a Price to Book Value of 0.66, which suggests that despite its high earnings multiple, its asset valuation remains relatively low.
In comparison to its peers, Alpex Solar's PE ratio is significantly lower than Siemens Energy Industries at 118.28 and ABB at 61.77, both categorized as very expensive. However, it is higher than Apar Industries, which has a PE ratio of 35.66 and is classified as fair. Additionally, Alpex Solar's PEG ratio of 0.14 stands out, indicating potential growth at a reasonable price compared to peers. Despite the recent stock performance showing a 50.3% year-to-date return against the Sensex's 8.26%, the overall valuation still leans towards overvaluation.