Reliance Power (BOM:532939) Cyclically Adjusted PB Ratio: (As of Sep. 07, 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:532939 Reliance Power Ltd BOM:532939
58 GF Score
Price ₹22.09
GF Value ₹30.05
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Reliance Power Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Reliance Power  (BOM:532939) 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.


Reliance Power Cyclically Adjusted PB Ratio Related Terms


Reliance Power Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Reliance Power'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.

Reliance Power Cyclically Adjusted PB Ratio Chart

Reliance Power 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 0.16 0.12 0.37 0.61 0.31

Reliance Power 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 0.65 0.00 0.31 0.00

BOM:532939 vs CEG, VST, NRG: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Independent Power Producers subindustry, Reliance Power'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.


Reliance Power Cyclically Adjusted PB Ratio vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Reliance Power's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BOM:532939
58GF Score
Reliance Power Ltd BOM:532939
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Reliance Power 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.

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

For example, Reliance Power'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.

Reliance Power Quarterly Data

Book Value per Share CPI Adj_Book
201609 76.391 105.961 120.654
201612 0.000 105.196 0.000
201703 76.173 105.196 121.184
201706 0.000 107.109 0.000
201709 77.969 109.021 119.689
201712 0.000 109.404 0.000
201803 75.701 109.786 115.398
201806 0.000 111.317 0.000
201809 82.357 115.142 119.705
201812 0.000 115.142 0.000
201903 61.949 118.202 87.711
201906 0.000 120.880 0.000
201909 61.983 123.175 84.216
201912 0.000 126.235 0.000
202003 42.311 124.705 56.782
202006 0.000 127.000 0.000
202009 42.794 130.118 55.042
202012 0.000 130.889 0.000
202103 43.655 131.771 55.445
202106 0.000 134.084 0.000
202109 38.297 135.847 47.180
202112 0.000 138.161 0.000
202203 34.598 138.822 41.710
202206 0.000 142.347 0.000
202209 33.114 144.661 38.309
202212 0.000 145.763 0.000
202303 31.043 146.865 35.375
202306 0.000 150.280 0.000
202309 33.867 151.492 37.414
202312 0.000 152.924 0.000
202403 28.912 153.035 31.618
202406 0.000 155.789 0.000
202409 35.831 157.882 37.981
202412 0.000 158.323 0.000
202503 40.670 157.552 43.201
202506 0.000 159.755 0.000
202509 39.934 162.289 41.181
202512 0.000 163.281 0.000
202603 38.782 164.272 39.510
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 Reliance Power (BOM:532939) Overvalued in 2026?

Based on GuruFocus' analysis, Reliance Power stock appears to be undervalued. The current stock price of ₹22.09 is trading 26.5% below its estimated GF Value™ of ₹30.05. GuruFocus considers Reliance Power to be Modestly Undervalued.

Key valuation signals for BOM:532939:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹30.05 vs. price of ₹22.09 (26.5% below fair value)
  • GF Score™: 58/100 with 6 warning signs

No single metric tells the full story. See the BOM:532939 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Reliance Power Business Description

Other Exchanges RPOWER:India
Address 19, Walchand Hirachand Marg, Reliance Centre, Ground Floor, Ballard Estate, Mumbai, MH, IND, 400 001
Reliance Power Ltd is an electric utility that constructs, develops, and operates power generation projects. Generation of power is its only operating segment and includes all of the firm's projects. Categorized as either operating, under construction, or under development, these projects generate electricity using thermal fuel sources or renewable resources. The company derives its revenue from the sale of energy, but support service agreements contribute as well.
58GF Score

Get the complete analysis for BOM:532939

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

₹22.09
Price
₹30.05
GF Value