Natural Capsules (BOM:524654) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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.
Reviewed by: Charlie Tian Charlie Tian
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:524654 Natural Capsules Ltd BOM:524654
49 GF Score
Price ₹172.20
GF Value ₹296.90
Valuation Possible Value Trap
! 5 Warning Signs
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What is Natural Capsules Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Natural Capsules  (BOM:524654) 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.


Natural Capsules Cyclically Adjusted PB Ratio Related Terms


Natural Capsules Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Natural Capsules'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.

Natural Capsules Cyclically Adjusted PB Ratio Chart

Natural Capsules 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 4.85 3.73 2.50 1.33 0.93

Natural Capsules 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 1.68 1.97 1.20 1.00 1.01

BOM:524654 vs ZTS: Cyclically Adjusted PB Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Natural Capsules'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.


Natural Capsules Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Natural Capsules's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BOM:524654
49GF Score
Natural Capsules Ltd BOM:524654
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Natural Capsules 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.

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

For example, Natural Capsules'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)
=/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

Natural Capsules Quarterly Data

Book Value per Share CPI Adj_Book
201609 76.888 105.961 121.439
201612 105.196 0.000
201703 70.995 105.196 112.947
201706 107.109 0.000
201709 76.232 109.021 117.023
201712 109.404 0.000
201803 71.470 109.786 108.948
201806 111.317 0.000
201809 71.394 115.142 103.770
201812 71.820 115.142 104.389
201903 73.004 118.202 103.363
201906 120.880 0.000
201909 72.689 123.175 98.762
201912 73.004 126.235 96.786
202003 73.181 124.705 98.211
202006 127.000 0.000
202009 77.504 130.118 99.685
202012 79.635 130.889 101.823
202103 81.698 131.771 103.762
202106 84.450 134.084 105.406
202109 87.055 135.847 107.248
202112 138.161 0.000
202203 88.760 138.822 107.005
202206 142.347 0.000
202209 130.136 144.661 150.553
202212 145.763 0.000
202303 159.596 146.865 181.865
202306 150.280 0.000
202309 215.714 151.492 238.305
202312 152.924 0.000
202403 244.735 153.035 267.640
202406 155.789 0.000
202409 252.066 157.882 267.193
202412 158.323 0.000
202503 248.677 157.552 264.154
202506 159.755 0.000
202509 237.304 162.289 244.715
202512 163.281 0.000
202603 225.995 164.272 230.239
202606 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 Natural Capsules (BOM:524654) Overvalued in 2026?

Based on GuruFocus' analysis, Natural Capsules stock appears to be undervalued. The current stock price of ₹172.20 is trading 42% below its estimated GF Value™ of ₹296.90. GuruFocus considers Natural Capsules to be Possible Value Trap.

Key valuation signals for BOM:524654:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹296.90 vs. price of ₹172.20 (42% below fair value)
  • GF Score™: 49/100 with 5 warning signs

No single metric tells the full story. See the BOM:524654 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Natural Capsules Business Description

Other Exchanges NATCAPSUQ:India
Address 100 Feet Road, Jayanagar II Block, Trident Towers, 4th Floor, No. 23, Bengaluru, KA, IND, 560 011
Natural Capsules Ltd is an India-based company engaged in the manufacturing and selling of empty hard gelatin capsules. The products of the company are Hard gelatin capsule shells, Hard cellulose capsule shells, Shiny gelatin capsule shells, Sweet gelatin capsule shells, Enteric capsule shells, Printed gelatin capsule shells, Vegetarian capsule shells, Fortified gelatin capsule shells, and other capsules. It is also involved in formulating pharmaceutical dosage forms in capsule dosage form, both pharma and nutraceutical products.
49GF Score

Get the complete analysis for BOM:524654

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

₹172.20
Price
₹296.90
GF Value