Atishay (BOM:538713) Cyclically Adjusted PB Ratio: (As of Sep. 14, 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:538713 Atishay Ltd BOM:538713
79 GF Score
Price ₹154.10
GF Value ₹172.16
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Atishay Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Atishay  (BOM:538713) 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.


Atishay Cyclically Adjusted PB Ratio Related Terms


Atishay Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Atishay'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.

Atishay Cyclically Adjusted PB Ratio Chart

Atishay 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 0.00 5.53 5.41

Atishay 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 3.18 0.00 5.41 0.00

BOM:538713 vs IBM, ACN, CTSH: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Atishay'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.


Atishay Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Atishay's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BOM:538713
79GF Score
Atishay Ltd BOM:538713
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Atishay 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.

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

For example, Atishay'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.

Atishay Quarterly Data

Book Value per Share CPI Adj_Book
201609 22.233 105.961 35.115
201612 0.000 105.196 0.000
201703 23.815 105.196 37.888
201706 0.000 107.109 0.000
201709 24.192 109.021 37.137
201712 0.000 109.404 0.000
201803 26.571 109.786 40.505
201806 0.000 111.317 0.000
201809 27.528 115.142 40.012
201812 0.000 115.142 0.000
201903 29.704 118.202 42.057
201906 0.000 120.880 0.000
201909 30.497 123.175 41.436
201912 0.000 126.235 0.000
202003 31.145 124.705 41.797
202006 0.000 127.000 0.000
202009 32.457 130.118 41.746
202012 0.000 130.889 0.000
202103 33.460 131.771 42.496
202106 0.000 134.084 0.000
202109 32.601 135.847 40.163
202112 0.000 138.161 0.000
202203 32.812 138.822 39.557
202206 0.000 142.347 0.000
202209 32.683 144.661 37.811
202212 0.000 145.763 0.000
202303 33.409 146.865 38.071
202306 0.000 150.280 0.000
202309 34.449 151.492 38.057
202312 0.000 152.924 0.000
202403 38.587 153.035 42.198
202406 0.000 155.789 0.000
202409 40.068 157.882 42.473
202412 0.000 158.323 0.000
202503 44.259 157.552 47.014
202506 0.000 159.755 0.000
202509 46.593 162.289 48.048
202512 0.000 163.281 0.000
202603 49.926 164.272 50.864
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 Atishay (BOM:538713) Overvalued in 2026?

Based on GuruFocus' analysis, Atishay stock appears to be undervalued. The current stock price of ₹154.10 is trading 10.5% below its estimated GF Value™ of ₹172.16. GuruFocus considers Atishay to be Modestly Undervalued.

Key valuation signals for BOM:538713:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹172.16 vs. price of ₹154.10 (10.5% below fair value)
  • GF Score™: 79/100 with 3 warning signs

No single metric tells the full story. See the BOM:538713 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Atishay Business Description

Address Maharana Pratap Nagar, Plot No. 36, Zone-I, Bhopal, MP, IND, 462 011
Atishay Ltd is engaged in the business of Information Technology, Database management, Software Development, E-Governance, and Fintech Services. The company's operating segment includes E-Governance and Retail, and Others. It generates maximum revenue from the E-Governance segment. The e-governance segment includes the preparation of electoral rolls, electors' photo identity cards, Software development, and other B2G services for the government and Public Sector Undertakings. The Retail and Others segment includes Multi-Recharge/Retail services, software development, and other B2B services.
79GF Score

Get the complete analysis for BOM:538713

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

₹154.10
Price
₹172.16
GF Value