Is TCPL Packaging overvalued or undervalued?

As of 8 August 2025, TCPL Packaging's valuation grade has moved from fair to expensive, indicating that the company is currently overvalued. The key ratios reflect this assessment, with a PE ratio of 23.57, a Price to Book Value of 4.89, and an EV to EBITDA of 12.94. In comparison to its peers, Garware Hi Tech has a PE of 22, while AGI Greenpac, which is rated very attractive, has a significantly lower PE of 17.1.
Given these metrics, TCPL Packaging appears to be overvalued in the current market. While the company has shown strong returns, including a 230.89% increase over three years compared to the Sensex's 35.69%, the high valuation ratios suggest that investors may be paying a premium for future growth that may not materialize.