Is IFGL Refractori. overvalued or undervalued?

As of 31 October 2025, the valuation grade for IFGL Refractori. has moved from expensive to fair. The company appears to be fairly valued based on its current metrics, with a PE ratio of 61.10, an EV to EBITDA of 15.49, and a Price to Book Value of 1.61. In comparison to peers, RHI Magnesita, which is also rated fair, has a PE of 60.06 and an EV to EBITDA of 23.83, while Vesuvius India is deemed very expensive with a PE of 39.97 and an EV to EBITDA of 28.57.
The company's recent stock performance has been mixed, showing a year-to-date return of 7.64%, slightly outperforming the Sensex at 7.42%. However, over the past year, IFGL Refractori. has underperformed with a return of -12.57% compared to the Sensex's 5.73%. Overall, the current valuation suggests that IFGL Refractori. is fairly valued within its industry context.