Is Apollo Sindoori overvalued or undervalued?

As of 12 September 2025, Apollo Sindoori's valuation grade has moved from attractive to fair, indicating a shift in its perceived value. The company is currently fairly valued, with a PE ratio of 35.90, an EV to EBITDA of 18.70, and a PEG ratio of 2.15. In comparison, peers such as Mahindra Holidays, which is also fairly valued, has a PE of 55.74 and an EV to EBITDA of 15.69, while Indian Hotels Co is considered very expensive with a PE of 64.95 and an EV to EBITDA of 38.23. Despite its fair valuation, Apollo Sindoori has underperformed in the short term, with a year-to-date return of -17.31% compared to a 6.21% return for the Sensex. This underperformance, combined with its current ratios, suggests that while the company is not undervalued, it may face challenges in the near term relative to its peers in the hotel and resort industry.