Is Apex Ecotech overvalued or undervalued?

As of 22 September 2025, Apex Ecotech's valuation grade has moved from fair to expensive, indicating a shift in its perceived market value. The company is currently considered overvalued based on its key financial ratios, including a PE ratio of 25.51, an EV to EBITDA of 17.22, and a Price to Book Value of 4.72. These metrics suggest that the stock is trading at a premium compared to its earnings and book value.
In comparison with its peers, Apex Ecotech's PE ratio is significantly lower than that of Thermax, which stands at 58, and BEML Ltd, which has a PE ratio of 60.12, both categorized as very expensive. This suggests that while Apex is overvalued, it is relatively more attractive than some of its peers. Additionally, the company's recent stock performance has outpaced the Sensex, with a year-to-date return of 33.82% compared to the Sensex's 6.59%, further emphasizing the market's optimistic outlook despite the high valuation.