Is Jigar Cables overvalued or undervalued?

As of 31 October 2025, Jigar Cables has moved from an attractive to a very attractive valuation grade. The company is currently undervalued, with a PE ratio of 25.32, an EV to EBIT of 12.05, and a PEG ratio of 0.35, indicating strong growth potential relative to its price. In comparison to peers, Polycab India is very expensive with a PE of 47.12, while Havells India is fairly valued at a PE of 64.02, highlighting Jigar Cables' favorable positioning in the market.
Despite recent stock performance lagging behind the Sensex, with a 1-year return of -26.32% compared to the Sensex's 5.73%, the underlying financial metrics suggest that Jigar Cables is well-positioned for future growth. The company's robust ROCE of 19.78% further supports the valuation narrative, reinforcing the conclusion that Jigar Cables is undervalued relative to its peers in the electrical equipment industry.