Is Medinova Diagno. overvalued or undervalued?

As of 25 April 2023, the valuation grade for Medinova Diagnostics has moved from does not qualify to risky. The company is currently assessed as overvalued. Key ratios include a PE ratio of 20.54, an EV to EBIT of 14.25, and a negative Price to Book Value of -31.47, indicating significant concerns regarding its valuation metrics.
In comparison to peers, Medinova's PE ratio is substantially lower than Max Healthcare's 100.29 and Apollo Hospitals' 69.03, both of which are categorized as very expensive and attractive, respectively. Additionally, Medinova's PEG ratio stands at 0.00, which is notably lower than its peers, suggesting that the market may not be pricing in future growth adequately. Recent stock performance has lagged behind the Sensex, with a year-to-date return of 2.42% compared to the Sensex's 5.63%, further reinforcing the notion that Medinova Diagnostics is overvalued in the current market context.