Is Maan Aluminium overvalued or undervalued?

As of 29 August 2025, Maan Aluminium's valuation grade has moved from fair to expensive, indicating a shift towards overvaluation. The company is currently considered overvalued based on its high PE ratio of 39.30, an EV to EBITDA of 24.69, and a Price to Book Value of 3.40. In comparison, peers such as Hindalco Industries and National Aluminium are valued more attractively, with PE ratios of 9.15 and 5.97, respectively, highlighting the significant premium at which Maan Aluminium is trading.
The company's return metrics also suggest a disconnect with its market performance, as it has underperformed the Sensex over the past year, with a decline of 20.63% compared to the Sensex's drop of only 2.83%. Given these factors, Maan Aluminium is deemed overvalued in the current market environment.