Is Zeal Aqua overvalued or undervalued?

As of 1 October 2025, the valuation grade for Zeal Aqua has moved from attractive to very attractive, indicating a significant improvement in its perceived value. The company is currently considered undervalued, with a PE Ratio of 7.97, an EV to EBITDA of 9.35, and a PEG Ratio of 0.15, which are all notably lower than its peers. For comparison, Avanti Feeds has a PE Ratio of 15.18 and an EV to EBITDA of 9.99, while Mukka Proteins shows a PE Ratio of 18.48 and an EV to EBITDA of 12.82, highlighting Zeal Aqua's competitive pricing in the market.
Despite the recent underperformance of Zeal Aqua's stock, which has seen a year-to-date decline of 24.87% compared to a 3.64% gain in the Sensex, its strong fundamentals suggest that it is undervalued relative to its peers. The company's ROE stands at 18.94%, further reinforcing its attractive valuation in the FMCG sector.