Is Bhagyanagar Ind overvalued or undervalued?

As of 17 November 2025, Bhagyanagar Ind'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 18.90, an EV to EBITDA of 13.89, and a ROE of 12.12%. In comparison to its peers, Polycab India is considered very expensive with a PE ratio of 46.98, while Havells India also holds a fair valuation with a significantly higher PE of 63.33.
Despite this fair valuation, Bhagyanagar Ind has demonstrated strong performance, with a remarkable 1-month stock return of 66.74% compared to the Sensex's 1.19%, and a 5-year return of 807% against the Sensex's 93.28%. This performance suggests that while the company is currently fairly valued, its growth trajectory may warrant closer attention from investors.