Is Ecos (India) overvalued or undervalued?

As of 21 July 2025, Ecos (India) has moved from a fair valuation to an expensive rating. The company is currently overvalued, with a PE ratio of 36.35, a Price to Book Value of 9.67, and an EV to EBITDA of 22.46. In comparison to its peers, Thomas Cook (I) is rated attractive with a PE of 32.22 and an EV to EBITDA of 16.21, while I R C T C is classified as very expensive with a PE of 48.21 and an EV to EBITDA of 38.44.
Despite its strong ROCE of 55.34% and ROE of 26.60%, the high valuation metrics suggest that the stock is not justified at its current price of 350.20. Additionally, the stock has outperformed the Sensex recently, with a year-to-date return of 24.52% compared to the Sensex's 5.20%, but this does not mitigate the concerns regarding its overvaluation.