Is Apollo Pipes overvalued or undervalued?

As of 29 August 2025, the valuation grade for Apollo Pipes has moved from expensive to very expensive, indicating a significant shift in its perceived market value. The company is currently considered overvalued. Key ratios include a PE Ratio of 56.98, an EV to EBITDA of 18.97, and a Price to Book Value of 2.35, 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' PE Ratio is lower than Supreme Industries at 63.81 and Astral at 75.33, but it remains elevated relative to Finolex Industries, which has a PE Ratio of 33.07. The overall peer comparison indicates that while Apollo Pipes is overvalued, it is not the highest among its competitors. Notably, the stock has underperformed against the Sensex over the past year, with a return of -32.98% compared to the Sensex's -2.83%, reinforcing the notion of overvaluation.