Is Mukka Proteins overvalued or undervalued?

As of 25 March 2025, Mukka Proteins has moved from a fair to an attractive valuation grade, indicating a positive shift in its market position. The company is currently deemed undervalued, with a PE ratio of 20.24, an EV to EBITDA of 14.27, and a ROE of 10.47%. In comparison to its peers, Avanti Feeds Ltd. has a lower PE ratio of 19.15 and a more favorable EV to EBITDA of 12.96, while Kings Infra Ventures Ltd. shows a higher PE of 25.32 but a similar EV to EBITDA of 14.96.
Despite Mukka Proteins' recent stock performance lagging behind the Sensex, with a year-to-date return of -23.53% compared to the Sensex's 5.57%, the company's attractive valuation metrics suggest potential for recovery and growth. The PEG ratio stands at 0.00, indicating no growth expectations priced in, which further supports the argument for its undervaluation relative to its peers in the FMCG sector.