Is Apollo Pipes overvalued or undervalued?

As of 28 August 2025, Apollo Pipes has moved from a valuation grade of very expensive to expensive, indicating a slight improvement in its valuation perspective. The company is currently considered overvalued. Key ratios include a PE ratio of 54.60, an EV to EBITDA of 18.15, and a Price to Book Value of 2.25, all of which suggest that the stock is trading at a premium compared to its earnings and book value.
In comparison to its peers, Apollo Pipes has a significantly higher PE ratio than Finolex Industries, which stands at 32.56, and also exceeds the EV to EBITDA ratio of 18.15 compared to Finolex's 30.39. The company has underperformed the Sensex over various time frames, with a year-to-date return of -16.57% compared to the Sensex's positive return of 2.48%. This further reinforces the view that Apollo Pipes is overvalued in the current market environment.