WOL 3D India may see a 25-35% upside as it pivots to 3D-printed toys, says analyst Rajneesh. With P/E of 15, an EV/EBITDA ratio of 10 times, and ROCE of over 30%, the stock is undervalued at ₹129. Its FY25 revenue rose 20% to ₹48 crore. Key risks include inventory drag, execution stress, and reliance on China.