Is Elegant Marbles overvalued or undervalued?

As of 7 November 2025, Elegant Marbles has moved from a fair to an expensive valuation grade. The company is currently overvalued, with a PE ratio of 24.64, an EV to EBITDA of 28.16, and a Price to Book Value of 0.56. Compared to peers, Elegant Marbles' valuation stands out, particularly against Elitecon International, which has a PE ratio of 378.62, and PTC India, which is very attractive with a PE of 7.9.
The company's financial metrics indicate significant overvaluation, especially given its low ROCE of 2.38% and ROE of 2.27%. While Elegant Marbles has shown strong returns over a longer horizon, such as a 251.23% increase over the past five years, its recent performance has lagged behind the Sensex, with a year-to-date decline of 15.53% compared to the Sensex's gain of 6.50%. This further reinforces the conclusion that Elegant Marbles is currently overvalued in the market.