Is Ashapura Minech. overvalued or undervalued?

As of 14 November 2025, the valuation grade for Ashapura Minech. has moved from fair to expensive, indicating a shift in perception regarding its market value. The company is currently considered overvalued. Key ratios include a PE Ratio of 19.07, an EV to EBITDA of 16.44, and a Price to Book Value of 5.31, which suggest that the stock is trading at a premium compared to its earnings and book value.
In comparison to its peers, Ashapura Minech. stands out with a higher PE Ratio than Coal India, which has a PE of 7.65, and NMDC at 9.58, both of which are considered more attractively valued. Furthermore, Ashapura's PEG Ratio of 0.17 is significantly lower than that of GMDC, which is at 1.48, indicating that Ashapura's growth is not being reflected in its current valuation. Despite its strong recent stock performance, with a year-to-date return of 78.28% compared to the Sensex's 8.22%, the valuation metrics suggest that investors may be paying too much for the company's future growth potential.