Is Haryana Leather overvalued or undervalued?

As of 4 November 2025, Haryana Leather's valuation grade has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is currently assessed as overvalued, with a PE ratio of 17.64, an EV to EBITDA of 9.75, and a Price to Book Value of 0.88. These ratios suggest that the market is pricing the stock at a premium compared to its earnings and asset value.
In comparison to its peers, Haryana Leather's PE ratio is notably lower than Solar Industries, which has a PE of 97.69, and Gujarat Fluoroch at 64.64, both categorized as very expensive. Conversely, Godrej Industries, rated as attractive, has a PE of 36.97, indicating that Haryana Leather may not be justified in its current valuation. Additionally, the company's recent stock performance has lagged behind the Sensex, with a year-to-date return of -10.79% compared to the Sensex's 6.81%, further reinforcing the notion that it is overvalued in the current market environment.