Is Dev Labtech overvalued or undervalued?

As of 24 October 2025, the valuation grade for Dev Labtech has moved from fair to expensive, indicating a significant shift in its perceived value. The company is currently overvalued, with a PE ratio of 56.15, an EV to EBITDA ratio of 23.92, and a Price to Book Value of 1.80. These ratios suggest that the stock is trading at a premium compared to its earnings and book value.
When compared to peers, Dev Labtech's valuation stands out as expensive, particularly against Titan Company, which has a PE ratio of 88.77, and Kalyan Jewellers, with a PE ratio of 63.81. In contrast, PC Jeweller, which is rated very attractive, has a significantly lower PE ratio of 13.23. Additionally, Dev Labtech's recent stock performance has been underwhelming, with a year-to-date return of -20.7%, compared to a 7.77% gain in the Sensex, reinforcing the notion that the stock may not be a favorable investment at its current valuation.