Is Maiden Forgings overvalued or undervalued?

As of 2 July 2025, the valuation grade for Maiden Forgings has moved from very expensive to expensive, indicating a shift in perception regarding its market value. The company is currently deemed overvalued. Key ratios include a PE ratio of 19.23, an EV to EBITDA of 9.17, and a ROE of 8.53%.
In comparison with peers, JSW Steel and Tata Steel are both rated as fair, with PE ratios of 68.63 and 54.69, respectively, which highlights that Maiden Forgings is trading at a lower valuation despite its expensive classification. Additionally, the company's recent stock performance has outpaced the Sensex over the past week and month, with returns of 2.31% and 18.62%, respectively, although it has underperformed over the past year with a decline of 10.36%.