Is Linde India overvalued or undervalued?

As of 3 August 2020, Linde India has moved from an expensive to a very expensive valuation grade. The company is currently overvalued, with a PE ratio of 139.48, a Price to Book Value of 16.61, and an EV to EBITDA ratio of 82.79. These ratios indicate a significant premium over its peers, such as Petronet LNG, which has a PE ratio of 11.56 and an EV to EBITDA of 6.96, suggesting that Linde India is trading at a much higher valuation compared to its competitors.
Moreover, Linde India's PEG ratio stands at 29.18, further emphasizing its overvaluation in the market. While the company has shown strong historical returns, including a 149.50% return over three years, its recent performance has lagged behind the Sensex, with a 1-year return of -12.17% compared to the Sensex's 7.61%. This combination of high valuation ratios and underperformance relative to the broader market reinforces the conclusion that Linde India is overvalued.