Is Hawa Engineers overvalued or undervalued?

As of 10 November 2025, Hawa Engineers has moved from a very attractive to an attractive valuation grade. The company is currently considered undervalued, with a PE ratio of 15.54, an EV to EBITDA of 7.62, and a PEG ratio of 0.42. In comparison to its peers, Hawa Engineers stands out with a significantly lower PE ratio than Thermax, which is at 55.73, and BEML Ltd, which has a PE of 56.52, indicating that Hawa is trading at a more reasonable valuation relative to these expensive competitors.
Despite a challenging year with a YTD return of -47.13% compared to the Sensex's 6.91%, Hawa Engineers has shown strong fundamentals with a ROCE of 18.04% and ROE of 13.62%. This performance, alongside its attractive valuation metrics, suggests that the company is well-positioned for potential upside as market conditions improve.