Is Harsha Engg Intl overvalued or undervalued?

As of 18 November 2025, Harsha Engg Intl has moved from a fair to a very attractive valuation grade. The company is currently considered undervalued, with a PE ratio of 28.30, an EV to EBITDA ratio of 19.34, and a ROCE of 10.71%. In comparison to its peers, Thermax has a significantly higher PE ratio of 59.17, while BEML Ltd shows an even more elevated PE at 55.7, indicating that Harsha Engg Intl presents a more favorable valuation relative to these competitors.
Despite the company's recent stock performance lagging behind the Sensex, with a year-to-date return of -21.26% compared to the Sensex's 8.36%, the valuation metrics suggest that it is a compelling investment opportunity. The PEG ratio stands at 0.00, further supporting the notion that the stock is undervalued in the current market environment.