Is Captain Pipes overvalued or undervalued?

As of 29 October 2025, Captain Pipes has moved from a fair to an expensive valuation grade. The company is currently overvalued, with a PE ratio of 53.86, a Price to Book Value of 5.02, and an EV to EBITDA of 29.22. In comparison to its peers, Altius Telecom has a PE ratio of 55.11 and an EV to EBITDA of 10.51, while Mindspace Business shows a PE of 55.42 and an EV to EBITDA of 18.59, both indicating that Captain Pipes is trading at a premium despite its lower performance metrics.
The company's recent stock performance has been disappointing, with a year-to-date return of -33.18%, significantly underperforming the Sensex's 8.78% gain in the same period. This further reinforces the view that Captain Pipes is overvalued given its high valuation ratios and poor relative performance.