Is Maiden Forgings overvalued or undervalued?

As of 18 November 2025, Maiden Forgings' valuation grade has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is currently considered overvalued based on its key financial ratios, including a PE Ratio of 20.08, an EV to EBITDA of 9.78, and a Price to Book Value of 1.55.
In comparison to its peers, Maiden Forgings stands out unfavorably; for instance, JSW Steel has a PE Ratio of 46.33 and an EV to EBITDA of 13.64, while Tata Steel is valued at a PE Ratio of 28.91 with an EV to EBITDA of 10.5. These comparisons highlight that Maiden Forgings is trading at a premium relative to its peers, reinforcing the view that it is overvalued. Additionally, while the stock has shown a modest return of 8.92% over the past month, it still lags behind the Sensex's return of 0.86% during the same period, further suggesting that the stock may not be a compelling investment at its current valuation.