Is NMS Global overvalued or undervalued?

As of 24 October 2025, NMS Global's valuation grade has moved from attractive to fair, indicating a shift in its perceived value. The company is currently fairly valued, with a PE ratio of 51.46, an EV to EBITDA ratio of 62.67, and a PEG ratio of 0.49. Compared to peers, Elitecon International is deemed very expensive with a PE ratio of 358.65, while Optiemus Infra is also fairly valued with an EV to EBITDA ratio of 80.22.
Despite its fair valuation, NMS Global shows strong performance metrics, including a ROE of 14.97%, which is favorable compared to its industry peers. The company's stock has outperformed the Sensex, with a year-to-date return of 52.55% compared to the Sensex's 7.77%, reinforcing its competitive position in the market.