Is Shukra Jewellery overvalued or undervalued?

As of 12 August 2025, Shukra Jewellery's valuation grade has moved from attractive to fair, indicating a shift in its market perception. The company is currently fairly valued, with a PE ratio of 11.56, an EV to EBIT of 11.50, and a Price to Book Value of 0.32. These ratios suggest that while the company is not undervalued, it also does not present the same level of attractiveness as before.
In comparison to its peers, Shukra Jewellery's PE ratio is significantly lower than that of Titan Company, which stands at 83.4, and Kalyan Jewellers at 67.31, both of which are considered expensive. On the other hand, PC Jeweller, which is rated attractive, has a PE ratio of 15.12, indicating that Shukra Jewellery may have room for improvement in its valuation metrics. Notably, the company's stock has underperformed in the year-to-date period, declining by 47.6%, contrasting with a 2.68% gain in the Sensex, further emphasizing the need for cautious optimism regarding its future performance.