Is Refractory Shap. overvalued or undervalued?

As of 9 October 2025, the valuation grade for Refractory Shap. has moved from very expensive to expensive. Based on the current analysis, the company appears to be overvalued. The PE ratio stands at 14.49, with an EV to EBITDA ratio of 9.78 and a Price to Book Value of 1.95, which are relatively high compared to its peers.
In comparison, Vesuvius India has a significantly higher PE ratio of 40.64, while RHI Magnesita shows a PE of 56.49, indicating that Refractory Shap. is less expensive than these peers but still does not justify its current valuation given the overall market context. The company's recent stock performance has been poor, with a year-to-date return of -57.68%, contrasting sharply with the Sensex's gain of 6.50% during the same period, further supporting the conclusion of overvaluation.