Is Goblin India overvalued or undervalued?

As of 15 October 2025, Goblin India has moved from an attractive to a fair valuation grade. The company appears to be undervalued based on its current financial metrics, which include a PE ratio of 10.74, an EV to EBITDA of 9.08, and a Price to Book Value of 0.48. These ratios suggest that the stock is trading at a discount compared to its earnings and asset value.
In comparison to its peers, Goblin India's valuation metrics are significantly lower than those of Altius Telecom, which has a PE ratio of 54.93, and Embassy Office REIT, which has a PE ratio of 24.99. This highlights that Goblin India is not only undervalued relative to its own historical performance but also when compared to other companies in the industry. Despite recent poor stock performance, with a year-to-date return of -52.06% compared to a Sensex return of 5.72%, the underlying valuation metrics indicate that Goblin India presents a buying opportunity for investors looking for value in the gems, jewellery, and watches sector.