Is Apollo Pipes overvalued or undervalued?

As of 17 October 2025, Apollo Pipes has moved from an expensive to a fair valuation grade. The company is currently fairly valued, with a PE ratio of 47.01, a Price to Book Value of 1.94, and an EV to EBITDA of 15.56. In comparison to its peers, Finolex Industries is also fairly valued with a PE ratio of 29.85, while Supreme Industries and Astral are considered very expensive with PE ratios of 60.2 and 79.65, respectively.
Despite the recent stock performance showing a decline of 39.27% over the past year compared to a 3.64% increase in the Sensex, the valuation metrics suggest that Apollo Pipes is positioned reasonably within its industry. The PEG ratio stands at 0.00, indicating no growth expectations priced in, which could imply potential upside if the company manages to improve its profitability metrics, such as ROCE at 6.85% and ROE at 4.12%.