Is Narmada Agrobase overvalued or undervalued?

As of 21 July 2025, the valuation grade for Narmada Agrobase has moved from expensive to very expensive, indicating a significant increase in perceived overvaluation. The company is currently assessed as overvalued. Key ratios include a PE ratio of 21.06, an EV to EBITDA of 17.29, and a ROE of 21.29%.
In comparison with peers, Jain Irrigation, which is rated as attractive, has a much higher PE ratio of 106.98, while Krishival Foods, also rated very expensive, has a PE of 65.04. This suggests that Narmada Agrobase's valuation is not justified when looking at its peers. Notably, the company's stock has outperformed the Sensex over the past week and month, with returns of 30.29% and 35.66%, respectively, which further complicates the valuation narrative.