Is Maan Aluminium overvalued or undervalued?

As of 21 August 2025, Maan Aluminium's valuation grade has moved from expensive to fair, indicating a reassessment of its market position. The company is currently fairly valued, with a PE ratio of 39.15, an EV to EBITDA of 24.61, and an ROCE of 13.42%. In comparison to peers, Hindalco Industries boasts a significantly lower PE of 9.18 and an EV to EBITDA of 6.26, while National Aluminium also presents attractive metrics with a PE of 6.13 and an EV to EBITDA of 3.83.
Despite the recent stock performance showing a decline of 14.85% year-to-date against a 4.94% increase in the Sensex, Maan Aluminium's valuation appears justified given its current ratios. The company's PEG ratio stands at 0.00, suggesting potential for growth, although it remains to be seen how it will perform against its peers moving forward.