Is Hardcast.& Waud overvalued or undervalued?

As of 15 October 2025, the valuation grade for Hardcast.& Waud has moved from expensive to very expensive. The company appears to be overvalued, particularly when considering its high PE ratio of 55.90, an EV to EBITDA of 16.06, and a ROCE of only 5.41%. In comparison, Asian Paints, which is categorized as expensive, has a PE ratio of 59.11 and an EV to EBITDA of 38.06, while Berger Paints, rated as fair, has a PE of 52.61 and an EV to EBITDA of 32.94.
The significant disparity in valuation metrics suggests that Hardcast.& Waud is not justified at its current price of 756.90, especially given its recent stock performance, which has lagged behind the Sensex with a year-to-date return of -14.57% compared to the Sensex's 5.72%. Overall, the company's financial ratios and peer comparisons indicate that it is overvalued in the current market environment.