Is Readymix Cons. overvalued or undervalued?

As of 22 September 2025, Readymix Cons. has moved from a fair valuation to very expensive. The company appears overvalued based on its current financial metrics. Key ratios include a PE Ratio of 18.54, an EV to EBITDA of 12.28, and a Price to Book Value of 9.23.
In comparison to its peers, Readymix Cons. has a lower PE ratio than Thermax, which stands at 58, but is still considered very expensive alongside BEML Ltd, which has a PE of 60. The high ROCE of 53.18% and ROE of 49.81% indicate strong profitability, yet these figures do not justify the elevated valuation levels. Additionally, Readymix Cons. has significantly outperformed the Sensex in the past month with a return of 33.84% compared to the Sensex's 1.34%, further emphasizing its current overvaluation status.