National Aluminium Co (BOM:532234) Cyclically Adjusted PB Ratio: (As of Sep. 03, 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:532234 National Aluminium Co Ltd BOM:532234
80 GF Score
Price ₹372.85
GF Value ₹267.82
Valuation Significantly Overvalued
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What is National Aluminium Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


National Aluminium Co  (BOM:532234) 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.


National Aluminium Co Cyclically Adjusted PB Ratio Related Terms


National Aluminium Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for National Aluminium Co'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.

National Aluminium Co Cyclically Adjusted PB Ratio Chart

National Aluminium Co 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 1.73 1.08 2.05 2.27 4.62

National Aluminium Co 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 2.64 0.00 4.62 0.00

BOM:532234 vs AA: Cyclically Adjusted PB Ratio Comparison

For the Aluminum subindustry, National Aluminium Co'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.


National Aluminium Co Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, National Aluminium Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where National Aluminium Co's Cyclically Adjusted PB Ratio falls into.


BOM:532234
80GF Score
National Aluminium Co Ltd BOM:532234
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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National Aluminium Co 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.

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

For example, National Aluminium Co'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.

National Aluminium Co Quarterly Data

Book Value per Share CPI Adj_Book
201506 0.000 99.841 0.000
201509 51.168 101.753 84.158
201512 0.000 102.901 0.000
201603 51.198 102.518 83.579
201606 0.000 105.961 0.000
201703 52.796 105.196 83.994
201803 54.342 109.786 82.838
201806 0.000 111.317 0.000
201809 0.000 115.142 0.000
201812 0.000 115.142 0.000
201903 56.201 118.202 79.573
201906 0.000 120.880 0.000
201909 54.956 123.175 74.668
201912 0.000 126.235 0.000
202003 53.529 124.705 71.837
202006 0.000 127.000 0.000
202009 54.228 130.118 69.748
202012 0.000 130.889 0.000
202103 58.145 131.771 73.848
202106 0.000 134.084 0.000
202109 63.168 135.847 77.820
202112 0.000 138.161 0.000
202203 68.345 138.822 82.394
202206 0.000 142.347 0.000
202209 70.688 144.661 81.778
202212 0.000 145.763 0.000
202303 71.470 146.865 81.443
202306 0.000 150.280 0.000
202309 73.298 151.492 80.974
202312 0.000 152.924 0.000
202403 78.340 153.035 85.672
202406 0.000 155.789 0.000
202409 85.174 157.882 90.286
202412 0.000 158.323 0.000
202503 96.946 157.552 102.980
202506 0.000 159.755 0.000
202509 108.004 162.289 111.377
202512 0.000 163.281 0.000
202603 117.627 164.272 119.836
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 National Aluminium Co (BOM:532234) Overvalued in 2026?

Based on GuruFocus' analysis, National Aluminium Co stock appears to be overvalued. The current stock price of ₹372.85 is trading 39.2% above its estimated GF Value™ of ₹267.82. GuruFocus considers National Aluminium Co to be Significantly Overvalued.

Key valuation signals for BOM:532234:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹267.82 vs. price of ₹372.85 (39.2% above fair value)
  • GF Score™: 80/100

No single metric tells the full story. See the BOM:532234 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


National Aluminium Co Business Description

Other Exchanges NATIONALUM:India
Address Nalco Bhawan, Plot No. P/1, Nayapalli, Bhubaneswar, OR, IND, 751013
National Aluminium Co Ltd mines, produces and sells aluminum and alumina-based products in two segments: Aluminium and Chemicals. The company controls all stages of the aluminum process. The firm mines bauxite and refines it into alumina, then smelts maximum of the alumina into aluminum. The aluminum segment, which generates the majority of revenue, sells aluminum-based products. The chemicals segment sells calcinated alumina and alumina hydrate. The firm also owns and operates multiple power plants throughout India. The company derives maximum revenue from Aluminum segment.
80GF Score

Get the complete analysis for BOM:532234

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

₹372.85
Price
₹267.82
GF Value