Is Maxgrow India overvalued or undervalued?

As of 29 October 2025, the valuation grade for Maxgrow India has moved from risky to very attractive, indicating a significant positive shift in its perceived investment quality. The company is currently considered undervalued, especially when compared to its peers. Key ratios include a PE ratio of 1.89, an EV to EBIT of 1.91, and an impressive ROCE of 390.82%.
In comparison with peers, Maxgrow India stands out with a significantly lower PE ratio than Firstsour.Solu. at 39.71 and eClerx Services at 37.02, both of which are categorized as fair and very expensive, respectively. Additionally, while Maxgrow's PEG ratio is at 0.00, indicating potential growth at a low price, its EV to Sales ratio of 0.03 further emphasizes its undervaluation relative to the industry. Notably, over the past five years, Maxgrow India has delivered a remarkable stock return of 1154.97%, significantly outperforming the Sensex's 113.83% return, reinforcing its attractive valuation narrative.