Is Apollo Pipes overvalued or undervalued?

As of 30 October 2025, Apollo Pipes has moved from a fair to an expensive valuation grade. The company is currently overvalued, with a PE ratio of 42.24, a Price to Book Value of 1.74, and an EV to EBITDA of 13.94. In comparison to its peers, Supreme Industries and Astral are also categorized as very expensive, with PE ratios of 56.92 and 81.14, respectively, indicating that Apollo Pipes, while expensive, is relatively more attractive than some of its peers.
The company's financial metrics reflect challenges, with a low ROCE of 6.85% and an ROE of 4.12%. Additionally, the stock has significantly underperformed against the Sensex, showing a year-to-date decline of 35.45% compared to the Sensex's gain of 8.02%. This performance further supports the conclusion that Apollo Pipes is overvalued in the current market context.