Is Nupur Recyclers overvalued or undervalued?

As of 17 September 2025, Nupur Recyclers has moved from an expensive to a fair valuation grade. The company is currently fairly valued, with a PE ratio of 37.91, an EV to EBITDA ratio of 35.03, and a ROE of 12.28%. In comparison to peers, Hindustan Zinc is rated very expensive with a PE of 18.82, while Vedanta is considered very attractive with a PE of 13.51.
Despite its fair valuation, Nupur Recyclers has underperformed relative to the Sensex, with a year-to-date return of -24.24% compared to the Sensex's 7.13%. This underperformance, coupled with its current valuation metrics, suggests that while the stock is not overvalued, it may still face challenges in regaining investor confidence in the near term.