Is Namo eWaste overvalued or undervalued?

As of 29 August 2025, the valuation grade for Namo eWaste has moved from fair to attractive, indicating a positive shift in its perceived value. The company appears to be undervalued, particularly when considering its PE ratio of 43.73, EV to EBITDA of 26.87, and ROCE of 15.18%. In comparison to peers, Altius Telecom, which is rated very attractive, has a significantly higher PE ratio of 55.85, while Embassy Office REIT, rated very expensive, has a lower PE of 22.94.
Despite the attractive valuation grade, Namo eWaste has faced challenges in stock performance, with a year-to-date return of -22.79% compared to a 3.31% gain in the Sensex. This divergence suggests that while the company may be fundamentally undervalued, market sentiment has not yet reflected this potential.