Is HLE Glascoat overvalued or undervalued?

As of 4 November 2025, HLE Glascoat's valuation grade has moved from very expensive to expensive. The company is currently considered overvalued based on its high valuation ratios. The PE ratio stands at 75.46, the Price to Book Value is 9.25, and the EV to EBITDA ratio is 30.64, all of which are significantly above industry norms.
In comparison to its peers, HLE Glascoat's valuation appears stretched; 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. These figures indicate that HLE Glascoat's valuation is not justified when compared to its peers in the industrial manufacturing sector. Additionally, despite a strong performance in the past year with a stock return of 61.64% compared to the Sensex return of 5.94%, the current valuation metrics suggest that the stock is overvalued.