Is Incredible Indus overvalued or undervalued?

As of 17 November 2025, the valuation grade for Incredible Indus has moved from very attractive to attractive, indicating a shift in market perception. The company is currently considered fairly valued. Key ratios include a PE ratio of 14.84, an EV to EBITDA of 8.98, and a PEG ratio of 0.18, which suggests that the stock may still offer growth potential relative to its price.
In comparison to peers, Incredible Indus has a lower PE ratio than JSW Steel, which stands at 46.87, and a more favorable PEG ratio compared to Tata Steel's 0.23. This positions Incredible Indus competitively within the iron and steel products industry. Despite recent underperformance against the Sensex, with a year-to-date return of -3.16% compared to the Sensex's 8.72%, the company's solid fundamentals and attractive valuation ratios suggest it remains a viable investment option.