Is Evans Electric overvalued or undervalued?

As of 18 November 2025, Evans Electric's valuation grade has moved from expensive to fair, indicating a more favorable assessment of its market position. The company is currently considered fairly valued. Key ratios include a PE ratio of 10.00, an EV to EBIT of 7.16, and a PEG ratio of 0.20, all of which suggest that the stock is reasonably priced relative to its earnings growth potential.
In comparison to its peers, Evans Electric stands out with a PE ratio that is significantly lower than Elitecon International's exorbitant 279.69 and MMTC's 137.89, both categorized as very expensive. Additionally, PTC India, which is rated very attractive, has a PE of 7.54, further reinforcing the competitive positioning of Evans Electric. Despite recent underperformance against the Sensex, with a year-to-date return of -23.4% compared to the Sensex's 8.36%, the company's strong ROCE of 52.89% and ROE of 28.48% indicate solid operational efficiency.