Is Nitiraj Engineer overvalued or undervalued?

As of 16 October 2025, the valuation grade for Nitiraj Engineer has moved from fair to attractive, indicating a positive shift in its investment appeal. The company is currently considered undervalued, particularly when compared to its peers. Key ratios include a PE ratio of 33.35, an EV to EBITDA of 16.63, and a Price to Book Value of 2.48.
In comparison to its peers, Nitiraj Engineer's PE ratio is significantly lower than that of Thermax at 56.18 and BEML Ltd at 61.63, both of which are categorized as expensive. Additionally, the PEG ratio for Nitiraj is 0.00, suggesting strong growth potential relative to its price. Despite recent underperformance against the Sensex, with a year-to-date return of -11.86% compared to the Sensex's 8.21%, the long-term outlook remains promising, especially given the company's attractive valuation metrics.