Is Manoj Ceramic overvalued or undervalued?

As of 16 October 2025, the valuation grade for Manoj Ceramic has moved from attractive to fair. The company is currently fairly valued based on its financial metrics. Key ratios include a PE ratio of 11.90, an EV to EBITDA of 7.78, and a ROCE of 14.54%.
In comparison to peers, Manoj Ceramic's PE ratio is significantly lower than that of Kajaria Ceramics, which is considered expensive at 58.4, and Cera Sanitary, which has a PE of 32.04 and is rated attractive. The company's recent stock performance has been poor, with a year-to-date return of -47%, contrasting sharply with the Sensex's gain of 6.82% during the same period, reinforcing the notion that the stock may be undervalued relative to its peers despite its current fair valuation.