Is KHFM Hospitality overvalued or undervalued?

As of 26 August 2025, KHFM Hospitality's valuation grade has moved from very expensive to fair, indicating a shift in market perception. The company appears to be fairly valued at this time. Key ratios include a PE ratio of 52.72, an EV to EBITDA of 20.06, and a ROCE of 11.79%.
In comparison to its peers, KHFM's PE ratio is significantly lower than that of Max Healthcare at 95.68 and Apollo Hospitals at 70.89, both of which are considered very expensive and attractive, respectively. Despite the recent underperformance of KHFM's stock relative to the Sensex, with a year-to-date return of -14.75% compared to the Sensex's 4.51%, the current valuation suggests that it is not overvalued, especially when considering the broader industry context.