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, supported by a PE ratio of 15.27, an EV to EBITDA ratio of 7.51, and a PEG ratio of 0.42, indicating strong growth potential relative to its price.
In comparison to its peers, Hawa Engineers stands out with a significantly lower PE ratio than Thermax at 58.19 and BEML Ltd at 60.01, both of which are categorized as very expensive. The company's return on capital employed (ROCE) is a robust 18.04%, further reinforcing its attractive valuation. Despite recent stock performance lagging behind the Sensex, particularly with a year-to-date decline of 48.04% compared to the Sensex's gain of 6.81%, the underlying financial metrics suggest that Hawa Engineers presents a compelling investment opportunity at its current price of 116.90.