Is Niraj Cement overvalued or undervalued?

As of 27 June 2025, Niraj Cement's valuation grade has moved from very attractive to attractive, indicating a shift in its perceived value. The company is currently assessed as fairly valued. Key ratios include a PE ratio of 21.66, an EV to EBITDA of 18.47, and a Price to Book Value of 1.40, which suggest that while the company is performing reasonably well, it may not present a significant discount compared to its peers.
In comparison to its industry peers, Larsen & Toubro, which has a PE ratio of 34.48 and an EV to EBITDA of 17.47, appears to be more expensive, while Siemens is categorized as very expensive with a PE of 54.86. Niraj Cement's recent stock performance has outpaced the Sensex over the past week, returning 5.83% compared to the Sensex's 2.00%, but its year-to-date performance shows a decline of 21.13% against the Sensex's gain of 7.58%. This mixed performance reflects the complexities in its valuation amidst market conditions.