Is Igarashi Motors overvalued or undervalued?

As of 26 September 2025, Igarashi Motors' valuation grade has moved from expensive to fair. The company is currently fairly valued, with a PE ratio of 85.49, an EV to EBITDA ratio of 18.95, and a Price to Book Value of 3.40. In comparison to its peers, Bosch is considered expensive with a PE ratio of 50.76, while Endurance Tech is fairly valued with a PE of 45.48. Despite the recent shift in valuation, Igarashi Motors has underperformed relative to the Sensex, particularly year-to-date with a return of -29.74% compared to the Sensex's 2.93%. This performance, along with the high valuation ratios, suggests that while the company is no longer seen as overvalued, it still faces challenges in justifying its current price level in the market.