Is Manav Infra overvalued or undervalued?

As of 17 November 2025, the valuation grade for Manav Infra has moved from very attractive to expensive, indicating a shift in perception regarding its market value. The company is currently considered overvalued. Key ratios include a PE ratio of 8.24, an EV to EBITDA of 6.33, and a ROE of 37.79%.
In comparison to its peers, Manav Infra's PE ratio is significantly lower than that of Rail Vikas, which stands at 60.05, and Tube Investments, which is at 95.02. Despite its strong performance metrics, such as a robust ROCE of 28.60%, the current valuation suggests that the stock may not justify its price given the recent trends, including a 1-year stock return of -13.33% compared to a 10.54% return for the Sensex.