Is TCI Express overvalued or undervalued?

As of 15 July 2025, TCI Express has moved from a very attractive to an attractive valuation grade. The company appears to be overvalued based on its current metrics. The PE ratio stands at 33.71, while the EV to EBITDA ratio is 21.97, and the Price to Book Value is 3.78.
In comparison to its peers, TCI Express has a higher PE ratio than Transport Corporation, which is fairly valued at 23.22, and significantly lower than Delhivery, which is considered risky with a PE ratio of 186.3. Additionally, the PEG ratio for TCI Express is 0.00, indicating no growth expectations priced in, which further supports the overvaluation assessment. Recent stock performance shows TCI Express underperforming against the Sensex, with a YTD return of -7.21% compared to the Sensex's 5.67%.