Is Vivid Global overvalued or undervalued?

As of 24 October 2025, Vivid Global's valuation grade has moved from expensive to fair, indicating a shift in its perceived value. The company is currently fairly valued, with a PE ratio of 33.84, an EV to EBITDA of 11.66, and a Price to Book Value of 0.97. In comparison to its peers, Solar Industries is very expensive with a PE ratio of 100.64, while Godrej Industries is attractive with a PE ratio of 36.32.
Despite the fair valuation, Vivid Global has underperformed significantly against the Sensex, with a year-to-date return of -20.05% compared to the Sensex's 7.77%. This underperformance, along with a low ROCE of 1.42% and ROE of 2.88%, suggests that while the stock may be fairly valued, it faces challenges that could impact future growth and investor sentiment.