Is Hawa Engineers overvalued or undervalued?

As of 4 November 2025, Hawa Engineers has moved from an attractive to a very attractive valuation grade. The company is currently undervalued, with a PE ratio of 15.27, an EV to EBITDA of 7.51, and a PEG ratio of 0.42, indicating strong growth potential relative to its price. In comparison to peers, Hawa Engineers stands out favorably; for instance, Thermax has a PE ratio of 58.19 and an EV to EBITDA of 38.36, while BEML Ltd shows a PE of 60.01 and an EV to EBITDA of 35.85, both categorizing them as very expensive.
Despite recent stock performance showing a decline of 53.53% over the past year compared to a 5.94% increase in the Sensex, the fundamental ratios suggest that Hawa Engineers is positioned well within its industry. The company's ROCE of 18.04% and ROE of 13.62% further reinforce its financial health, making it an attractive investment opportunity at its current price of 116.90.