Is Inani Marbles overvalued or undervalued?

As of 14 October 2025, Inani Marbles' valuation grade has moved from attractive to fair, indicating a shift in its perceived value. The company is currently fairly valued, with a PE ratio of 310.00, an EV to EBITDA of 16.47, and a Price to Book Value of 0.69. In comparison, peers such as Coal India, which is rated very attractive, has a PE ratio of 7.08, while NMDC, rated fair, has a PE ratio of 10.24.
Despite the fair valuation, Inani Marbles shows concerning financial metrics, including a negative ROCE of -3.10% and a low ROE of 0.22%. The company's recent stock performance has lagged behind the Sensex, particularly over the year with a decline of 31.03% compared to the Sensex's modest increase of 0.07%. This underperformance, coupled with its high PE ratio relative to peers, suggests that while the company is currently fairly valued, it faces significant challenges that may impact its future valuation.