Is Refractory Shap. overvalued or undervalued?

As of 24 October 2025, the valuation grade for Refractory Shap. has moved from expensive to very expensive. The company appears to be overvalued based on its current financial ratios. The PE ratio stands at 15.19, while the EV to EBITDA ratio is 10.19, and the Price to Book Value is 2.04, indicating a premium compared to its earnings and asset values.
In comparison to peers, Vesuvius India has a significantly higher PE ratio of 39.64 and EV to EBITDA of 28.32, while RHI Magnesita, which is rated very attractive, has a PE of 56.23. This suggests that Refractory Shap. is not only overvalued in its current state but also less favorable compared to its more attractive peers. Additionally, the company's stock has underperformed significantly, with a year-to-date return of -55.63%, contrasting sharply with the Sensex's positive return of 9.09% during the same period.