Is I O C L overvalued or undervalued?

As of 15 November 2023, the valuation grade for I O C L has moved from attractive to very attractive, indicating a significant improvement in its perceived value. The company is currently considered undervalued, with a PE ratio of 16.67, an EV to EBITDA of 9.37, and a Price to Book Value of 1.07. These metrics suggest that I O C L is trading at a lower valuation compared to its peers.
In comparison to its industry counterparts, I O C L's PE ratio is notably lower than Reliance Industries, which stands at 28.05, and also more favorable than ONGC's PE of 8.31. Furthermore, the company's dividend yield of 4.97% and ROE of 6.40% enhance its attractiveness in the current market. Despite a recent decline in stock performance relative to the Sensex over the past year, I O C L's strong fundamentals and improved valuation grade suggest it presents a compelling investment opportunity.