Is Kenvi Jewels overvalued or undervalued?

As of 10 February 2025, the valuation grade for Kenvi Jewels has moved from very attractive to attractive, indicating a shift in perception regarding its investment potential. The company is currently assessed as overvalued. Key ratios include a PE ratio of 38.62, an EV to EBITDA of 16.99, and a ROCE of 13.30%.
In comparison to its peers, Kenvi Jewels has a higher PE ratio than P N Gadgil Jewellers, which stands at 35.11, and is significantly lower than Kalyan Jewellers, which is considered expensive at a PE of 81.3. Additionally, while Kenvi Jewels' PEG ratio is 3.41, it is notably higher than that of PC Jeweller Ltd., which is at 0.08, suggesting that Kenvi may be overvalued relative to its growth prospects. The company's recent stock performance shows a year-to-date return of -18.49%, contrasting with the Sensex's positive return of 5.56%, further supporting the conclusion of overvaluation.