Is Apex Ecotech overvalued or undervalued?

As of 10 October 2025, Apex Ecotech's valuation grade has moved from fair to very attractive, indicating a significant improvement in its perceived value. The company is currently assessed as undervalued, supported by a PE ratio of 20.49, an EV to EBIT of 13.60, and a remarkable ROCE of 58.77%. In comparison to its peers, Apex Ecotech's valuation metrics stand out; for instance, Thermax has a PE ratio of 57.03 and an EV to EBITDA of 37.58, categorizing it as expensive, while BEML Ltd is classified as very expensive with a PE ratio of 60.71.
The company's current price of 133.00 reflects a positive YTD return of 8.13%, outperforming the Sensex's 6.94% during the same period. This performance, combined with its strong financial ratios and favorable peer comparison, reinforces the conclusion that Apex Ecotech is undervalued in the current market environment.