Is Apollo Pipes overvalued or undervalued?

As of 18 November 2025, Apollo Pipes has moved from a fair to an expensive valuation grade. The company appears to be overvalued, with a PE ratio of 42.59, an EV to EBITDA of 14.06, and a Price to Book Value of 1.75. In comparison to its peers, Finolex Industries, which is fairly valued, has a significantly lower PE ratio of 23.91, while Supreme Industries and Astral are both categorized as very expensive with PE ratios of 54 and 76.4, respectively.
The valuation metrics indicate that Apollo Pipes is trading at a premium compared to its peers, suggesting a potential overvaluation. Additionally, the company's recent stock performance has been underwhelming, with a year-to-date return of -34.91%, contrasting sharply with the Sensex's positive return of 8.36% during the same period. This further reinforces the view that Apollo Pipes may not be a compelling investment at its current price level.