Is Gandhar Oil Ref. overvalued or undervalued?

As of 6 November 2025, the valuation grade for Gandhar Oil Ref. has moved from very attractive to attractive, indicating a slight decline in perceived value. The company is currently assessed as undervalued, particularly when considering its PE ratio of 17.20, EV to EBITDA of 8.99, and a Price to Book Value of 1.05. These metrics suggest that the stock is trading at a reasonable valuation compared to its earnings and asset base. In comparison to peers, Reliance Industries has a significantly higher PE ratio of 24.36, while IOC stands at a PE of 9.76. This highlights that Gandhar Oil Ref. is positioned favorably within its industry, especially given its lower EV to EBITDA ratio compared to some competitors. Additionally, the company's recent stock performance has lagged behind the Sensex, with a year-to-date decline of 37.77% compared to the Sensex's gain of 6.62%, reinforcing the view that the stock may be undervalued relative to its potential.