Is Refex Industries overvalued or undervalued?

Nov 15 2025 08:09 AM IST
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As of November 14, 2025, Refex Industries is considered very expensive with a PE ratio of 28.26 and has underperformed the Sensex by -28.59%, indicating that its current valuation is not justified despite a strong ROCE of 18.09% and a favorable PEG ratio of 0.69.
As of 14 November 2025, Refex Industries has moved from an expensive to a very expensive valuation grade. The company is currently overvalued, with a PE ratio of 28.26, a Price to Book Value of 3.83, and an EV to EBITDA ratio of 20.77. In comparison to its peers, Linde India has a significantly higher PE ratio of 95.6, while Petronet LNG presents a much more attractive PE of 11.19, highlighting the disparity in valuation within the sector.

Despite a strong ROCE of 18.09% and a PEG ratio of 0.69, which may suggest growth potential, the overall valuation metrics indicate that Refex Industries is priced too high relative to its earnings and book value. The company's stock has underperformed against the Sensex over the past year, with a return of -28.59% compared to the Sensex's 9.00%, further reinforcing the notion that the current valuation is not justified.
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