Is Goyal Aluminiums overvalued or undervalued?

As of 13 October 2025, Goyal Aluminiums has moved from an expensive to a fair valuation grade. The company is currently fairly valued, with a PE ratio of 46.44, an EV to EBITDA ratio of 56.34, and a ROCE of 12.63%. In comparison to peers, Elitecon International is categorized as very expensive with a PE ratio of 360.49, while Optiemus Infra is also fairly valued with a PE ratio of 90.56.
Despite its fair valuation, Goyal Aluminiums has underperformed in recent stock returns, with a year-to-date decline of 30.78% compared to a 5.36% increase in the Sensex. This performance, along with the high valuation ratios, suggests that while the company is not overvalued, it may face challenges in achieving growth relative to its peers.