Is Atishay overvalued or undervalued?

As of 7 November 2025, Atishay's valuation grade has moved from fair to attractive, indicating a positive shift in its market perception. The company is currently assessed as undervalued, particularly when considering its PE ratio of 25.28, which is higher than TCS's 21.53 but lower than HCL Technologies' 24.18. Additionally, Atishay's EV to EBITDA stands at 16.78, which is competitive compared to TCS's 8.37 and significantly lower than the high valuations of companies like LTI Mindtree at 33.88.
In terms of financial performance, Atishay's Price to Book Value is notably low at 0.39, suggesting that the stock may be undervalued relative to its book value. The PEG ratio of 1.76 also indicates that the stock is reasonably priced in relation to its growth expectations. Despite recent stock performance showing a decline of 17.53% over the past year compared to a 4.62% rise in the Sensex, the long-term returns of 422.86% over three years highlight Atishay's potential for recovery and growth in the software products industry.