Gujarat Natural Resources (BOM:513536) Cyclically Adjusted PB Ratio: (As of Sep. 11, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:513536 Gujarat Natural Resources Ltd BOM:513536
53 GF Score
Price ₹107.81
GF Value ₹21.93
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Gujarat Natural Resources Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Gujarat Natural Resources  (BOM:513536) 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.


Gujarat Natural Resources Cyclically Adjusted PB Ratio Related Terms


Gujarat Natural Resources Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Gujarat Natural Resources'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.

Gujarat Natural Resources Cyclically Adjusted PB Ratio Chart

Gujarat Natural Resources 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 0.76 0.47 0.56 1.39 4.49

Gujarat Natural Resources 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 3.81 0.00 4.49 0.00

BOM:513536 vs COP, EOG, OXY: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas E&P subindustry, Gujarat Natural Resources'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.


Gujarat Natural Resources Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Gujarat Natural Resources's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Gujarat Natural Resources's Cyclically Adjusted PB Ratio falls into.


BOM:513536
53GF Score
Gujarat Natural Resources Ltd BOM:513536
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Gujarat Natural Resources 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.

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

For example, Gujarat Natural Resources'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.

Gujarat Natural Resources Quarterly Data

Book Value per Share CPI Adj_Book
201609 18.837 105.961 29.752
201612 0.000 105.196 0.000
201703 18.093 105.196 28.784
201706 0.000 107.109 0.000
201709 18.742 109.021 28.771
201712 0.000 109.404 0.000
201803 17.339 109.786 26.431
201806 0.000 111.317 0.000
201809 19.726 115.142 28.671
201812 0.000 115.142 0.000
201903 19.461 118.202 27.554
201906 0.000 120.880 0.000
201909 17.819 123.175 24.211
201912 0.000 126.235 0.000
202003 13.540 124.705 18.171
202006 0.000 127.000 0.000
202009 13.298 130.118 17.104
202012 0.000 130.889 0.000
202103 14.703 131.771 18.674
202106 0.000 134.084 0.000
202109 14.724 135.847 18.139
202112 0.000 138.161 0.000
202203 11.483 138.822 13.843
202206 0.000 142.347 0.000
202209 11.129 144.661 12.875
202212 0.000 145.763 0.000
202303 11.005 146.865 12.541
202306 0.000 150.280 0.000
202309 10.821 151.492 11.954
202312 0.000 152.924 0.000
202403 10.621 153.035 11.615
202406 0.000 155.789 0.000
202409 10.659 157.882 11.299
202412 0.000 158.323 0.000
202503 11.942 157.552 12.685
202506 0.000 159.755 0.000
202509 14.107 162.289 14.548
202512 0.000 163.281 0.000
202603 16.222 164.272 16.527
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 Gujarat Natural Resources (BOM:513536) Overvalued in 2026?

Based on GuruFocus' analysis, Gujarat Natural Resources stock appears to be overvalued. The current stock price of ₹107.81 is trading 391.6% above its estimated GF Value™ of ₹21.93. GuruFocus considers Gujarat Natural Resources to be Significantly Overvalued.

Key valuation signals for BOM:513536:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹21.93 vs. price of ₹107.81 (391.6% above fair value)
  • GF Score™: 53/100 with 3 warning signs

No single metric tells the full story. See the BOM:513536 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Gujarat Natural Resources Business Description

Industry EnergyOil & Gas
Other Exchanges GNRL:India
Address ANAM-1, Near Parimal Garden, 906-910, 9th Floor, Ellisbridge, Ahmedabad, GJ, IND, 380006
Gujarat Natural Resources Ltd is an Indian company engaged in the business of oil and gas exploration and trading of goods and others. Ongoing projects of the company are Kanawara Field, Allora Field, Dholasan Field, North Kathana Field, Unawa Field, and North Balol. The company earns key revenue from the sale of oil and natural gas exploration.
53GF Score

Get the complete analysis for BOM:513536

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

₹107.81
Price
₹21.93
GF Value