Kajaria Ceramics (BOM:500233) Cyclically Adjusted PB Ratio: (As of Sep. 04, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BOM:500233 Kajaria Ceramics Ltd BOM:500233
89 GF Score
Price ₹1,261.15
GF Value ₹1,342.25
Valuation Fairly Valued
! 4 Warning Signs
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What is Kajaria Ceramics Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Kajaria Ceramics  (BOM:500233) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Kajaria Ceramics Cyclically Adjusted PB Ratio Related Terms


Kajaria Ceramics Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kajaria Ceramics's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Kajaria Ceramics Cyclically Adjusted PB Ratio Chart

Kajaria Ceramics Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.18 9.88 9.48 6.33 6.08

Kajaria Ceramics Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 8.05 0.00 6.08 0.00

BOM:500233 vs TT, JCI, CARR: Cyclically Adjusted PB Ratio Comparison

For the Building Products & Equipment subindustry, Kajaria Ceramics's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kajaria Ceramics Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Kajaria Ceramics's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Kajaria Ceramics's Cyclically Adjusted PB Ratio falls into.


BOM:500233
89GF Score
Kajaria Ceramics Ltd BOM:500233
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kajaria Ceramics Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Kajaria Ceramics's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Kajaria Ceramics's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

Kajaria Ceramics Quarterly Data

Book Value per Share CPI Adj_Book
201609 71.112 105.961 112.316
201612 0.000 105.196 0.000
201703 73.936 105.196 117.625
201706 0.000 107.109 0.000
201709 77.576 109.021 119.086
201712 0.000 109.404 0.000
201803 84.997 109.786 129.569
201806 0.000 111.317 0.000
201809 90.816 115.142 132.000
201812 0.000 115.142 0.000
201903 99.081 118.202 140.285
201906 0.000 120.880 0.000
201909 104.448 123.175 141.913
201912 0.000 126.235 0.000
202003 107.845 124.705 144.731
202006 0.000 127.000 0.000
202009 111.671 130.118 143.631
202012 0.000 130.889 0.000
202103 117.479 131.771 149.206
202106 0.000 134.084 0.000
202109 127.629 135.847 157.233
202112 0.000 138.161 0.000
202203 133.312 138.822 160.715
202206 0.000 142.347 0.000
202209 140.459 144.661 162.496
202212 0.000 145.763 0.000
202303 146.124 146.865 166.513
202306 0.000 150.280 0.000
202309 157.167 151.492 173.627
202312 0.000 152.924 0.000
202403 164.296 153.035 179.673
202406 0.000 155.789 0.000
202409 169.429 157.882 179.597
202412 0.000 158.323 0.000
202503 172.305 157.552 183.029
202506 0.000 159.755 0.000
202509 183.939 162.289 189.683
202512 0.000 163.281 0.000
202603 192.475 164.272 196.090
202606 0.000 167.357 0.000

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Kajaria Ceramics (BOM:500233) Overvalued in 2026?

Based on GuruFocus' analysis, Kajaria Ceramics stock appears to be undervalued. The current stock price of ₹1,261.15 is trading 6% below its estimated GF Value™ of ₹1,342.25. GuruFocus considers Kajaria Ceramics to be Fairly Valued.

Key valuation signals for BOM:500233:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹1,342.25 vs. price of ₹1,261.15 (6% below fair value)
  • GF Score™: 89/100 with 4 warning signs

No single metric tells the full story. See the BOM:500233 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kajaria Ceramics Business Description

Other Exchanges KAJARIACER:India
Address Mathura Road, J-1/B-1 (Extn), Mohan Co-operative Industrial Estate, Opposite Badarpur Thermal Power Station, New Delhi, IND, 110044
Kajaria Ceramics Ltd is a manufacturer of indoor floor and wall tiles. The product range includes ceramic wall and floor tiles, polished vitrified tiles, glazed vitrified tiles, sanitary ware and faucets, and tile adhesives and grout. Kajaria Ceramics' tiles and tile-related products are marketed through a distribution network of dealers and sub-dealers. The company has two operating segments: Tiles and other products, including bathware, sanitaryware, and plywood. The company operates mainly in India, with production and the majority of sales focused there.
89GF Score

Get the complete analysis for BOM:500233

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,261.15
Price
₹1,342.25
GF Value