Is Race Eco overvalued or undervalued?

As of 14 November 2025, Race Eco's valuation grade has moved from expensive to fair. The company is currently fairly valued, with a PE ratio of 49.58, an EV to EBITDA ratio of 28.31, and a PEG ratio of 0.16. In comparison to its peers, Elitecon International is considered very expensive with a PE ratio of 309.88, while PTC India is very attractive with a PE ratio of 7.52.
Despite the recent stock performance showing a significant decline, with a year-to-date return of -53.78% compared to the Sensex's 8.22%, Race Eco's valuation metrics suggest that it is now positioned more favorably within its industry. The company's ROCE stands at 8.85% and ROE at 8.52%, indicating a reasonable return on capital and equity relative to its peers.