Shalimar Paints (BOM:509874) Cyclically Adjusted PB Ratio: (As of Sep. 04, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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:509874 Shalimar Paints Ltd BOM:509874
52 GF Score
Price ₹82.07
GF Value ₹109.92
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Shalimar Paints Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Shalimar Paints  (BOM:509874) 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.


Shalimar Paints Cyclically Adjusted PB Ratio Related Terms


Shalimar Paints Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Shalimar Paints'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.

Shalimar Paints Cyclically Adjusted PB Ratio Chart

Shalimar Paints 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 0.00 0.00 2.87 1.64 0.62

Shalimar Paints 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 1.41 0.00 0.62 0.00

BOM:509874 vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Shalimar Paints'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.


Shalimar Paints Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Shalimar Paints's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BOM:509874
52GF Score
Shalimar Paints Ltd BOM:509874
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Shalimar Paints 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.

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

For example, Shalimar Paints'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.

Shalimar Paints Quarterly Data

Book Value per Share CPI Adj_Book
201306 0.000 88.365 0.000
201309 30.737 91.042 56.502
201312 0.000 91.425 0.000
201403 27.833 91.425 50.950
201503 23.393 97.163 40.293
201603 73.249 102.518 119.576
201703 69.736 105.196 110.944
201803 52.366 109.786 79.826
201806 0.000 111.317 0.000
201809 0.000 115.142 0.000
201903 56.908 118.202 80.574
201906 0.000 120.880 0.000
201909 55.306 123.175 75.144
201912 0.000 126.235 0.000
202003 50.253 124.705 67.441
202006 0.000 127.000 0.000
202009 47.628 130.118 61.259
202012 0.000 130.889 0.000
202103 41.081 131.771 52.176
202106 0.000 134.084 0.000
202109 34.418 135.847 42.401
202112 0.000 138.161 0.000
202203 48.575 138.822 58.560
202206 0.000 142.347 0.000
202209 50.924 144.661 58.914
202212 0.000 145.763 0.000
202303 48.818 146.865 55.630
202306 0.000 150.280 0.000
202309 43.965 151.492 48.569
202312 0.000 152.924 0.000
202403 46.969 153.035 51.365
202406 0.000 155.789 0.000
202409 41.423 157.882 43.909
202412 0.000 158.323 0.000
202503 37.540 157.552 39.876
202506 0.000 159.755 0.000
202509 33.980 162.289 35.041
202512 0.000 163.281 0.000
202603 30.006 164.272 30.569
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 Shalimar Paints (BOM:509874) Overvalued in 2026?

Based on GuruFocus' analysis, Shalimar Paints stock appears to be undervalued. The current stock price of ₹82.07 is trading 25.3% below its estimated GF Value™ of ₹109.92. GuruFocus considers Shalimar Paints to be Modestly Undervalued.

Key valuation signals for BOM:509874:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹109.92 vs. price of ₹82.07 (25.3% below fair value)
  • GF Score™: 52/100 with 6 warning signs

No single metric tells the full story. See the BOM:509874 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Shalimar Paints Business Description

Other Exchanges SHALPAINTS:India
Address Road No. 16Z, Plot No. A184 and A185, Olethia Business Spaces, Opposite Ashar IT Park, Wagle Industrial Estate, Thane, MH, IND, 400604
Shalimar Paints Ltd is an Indian-based firm that is engaged in the manufacturing, selling, and distribution of paints, varnishes, enamels, and lacquers products. The company operates in one segment which is manufacturing and sale of paints. Its product offerings comprise Interior wall paints, Exterior wall paints, distempers, primers, putty, heavy-duty protective coating, GI coating, packaging coating, and others. Geographically, the company derives a majority of its revenue from its customers located in India.
52GF Score

Get the complete analysis for BOM:509874

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

₹82.07
Price
₹109.92
GF Value