Aditya Birla Fashion and Retail (NSE:ABFRL) Cyclically Adjusted PB Ratio: 1.84 (As of Jul. 31, 2026) — 18% Below Median

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.

NSE:ABFRL Aditya Birla Fashion and Retail Ltd NSE:ABFRL
66 GF Score
Price ₹58.94
GF Value ₹79.14
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Aditya Birla Fashion and Retail Cyclically Adjusted PB Ratio?

Aditya Birla Fashion and Retail NSE:ABFRL +1.52% 66 Cyclically Adjusted PB Ratio is 1.84 as of Jul. 31, 2026, which is 18% below its 10-year median of 2.25. GuruFocus rates NSE:ABFRL with a GF Score™ of 66/100 and a GF Value™ of ₹79.14 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 863 Manufacturing - Apparel & Accessories companies, Aditya Birla Fashion and Retail ranks worse than 69.52% on this metric.

As of today (2026-07-31), Aditya Birla Fashion and Retail's current share price is ₹58.94. Aditya Birla Fashion and Retail's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₹31.95. Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio for today is 1.84.

The historical rank and industry rank for Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio or its related term are showing as below:

NSE:ABFRL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.54   Med: 2.25   Max: 3.28
Current: 1.76

During the past years, Aditya Birla Fashion and Retail's highest Cyclically Adjusted PB Ratio was 3.28. The lowest was 1.54. And the median was 2.25.

NSE:ABFRL's Cyclically Adjusted PB Ratio is ranked worse than
69.52% of 863 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.97 vs NSE:ABFRL: 1.76

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Aditya Birla Fashion and Retail's adjusted book value per share data for the three months ended in Mar. 2026 was ₹47.988. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ₹31.95 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Aditya Birla Fashion and Retail  (NSE:ABFRL) 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.


Aditya Birla Fashion and Retail Cyclically Adjusted PB Ratio Related Terms


Aditya Birla Fashion and Retail Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Aditya Birla Fashion and Retail'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.

Aditya Birla Fashion and Retail Cyclically Adjusted PB Ratio Chart

Aditya Birla Fashion and Retail 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 2.28 1.73 1.93 2.99 1.69

Aditya Birla Fashion and Retail Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 2.99 0.00 2.81 0.00 1.69

NSE:ABFRL vs RL, LEVI, VFC: Cyclically Adjusted PB Ratio Comparison

For the Apparel Manufacturing subindustry, Aditya Birla Fashion and Retail'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.


Aditya Birla Fashion and Retail Cyclically Adjusted PB Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio falls into.


NSE:ABFRL
66GF Score
Aditya Birla Fashion and Retail Ltd NSE:ABFRL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Aditya Birla Fashion and Retail 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.

Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=58.94/31.95
=1.84

* 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.

Aditya Birla Fashion and Retail's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Aditya Birla Fashion and Retail's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=47.988/164.2724*164.2724
=47.988

Current CPI (Mar. 2026) = 164.2724.

Aditya Birla Fashion and Retail Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.000 105.961 0.000
201609 12.076 105.961 18.722
201612 0.000 105.196 0.000
201703 12.257 105.196 19.140
201706 0.000 107.109 0.000
201709 11.867 109.021 17.881
201712 0.000 109.404 0.000
201803 13.963 109.786 20.893
201806 0.000 111.317 0.000
201809 14.753 115.142 21.048
201812 0.000 115.142 0.000
201903 18.209 118.202 25.306
201906 0.000 120.880 0.000
201909 16.994 123.175 22.664
201912 0.000 126.235 0.000
202003 13.595 124.705 17.909
202006 0.000 127.000 0.000
202009 11.351 130.118 14.331
202012 0.000 130.889 0.000
202103 28.199 131.771 35.154
202106 0.000 134.084 0.000
202109 27.251 135.847 32.953
202112 0.000 138.161 0.000
202203 29.704 138.822 35.150
202206 0.000 142.347 0.000
202209 38.115 144.661 43.282
202212 0.000 145.763 0.000
202303 35.419 146.865 39.617
202306 0.000 150.280 0.000
202309 31.126 151.492 33.752
202312 0.000 152.924 0.000
202403 39.813 153.035 42.737
202406 0.000 155.789 0.000
202409 38.456 157.882 40.012
202412 0.000 158.323 0.000
202503 56.027 157.552 58.417
202506 0.000 159.755 0.000
202509 51.421 162.289 52.049
202512 0.000 163.281 0.000
202603 47.988 164.272 47.988

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.

What does a Cyclically Adjusted PB Ratio of 1.84 mean?
Aditya Birla Fashion and Retail (NSE:ABFRL) has a Cyclically Adjusted PB Ratio of 1.84 as of Jul. 31, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Aditya Birla Fashion and Retail and its competitors. This is 18% below median its historical median of 2.25. Over the past decade, Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio has ranged from 1.54 to 3.28. According to the industry distribution chart, Aditya Birla Fashion and Retail ranks #600 out of 863 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 69.5%.
Is Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio too high?
Aditya Birla Fashion and Retail's current Cyclically Adjusted PB Ratio of 1.84 is 18% below median its 10-year median of 2.25. Over the past 10 years, this metric has ranged from a low of 1.54 to a high of 3.28. The Manufacturing - Apparel & Accessories industry median Cyclically Adjusted PB Ratio is 0.97. Aditya Birla Fashion and Retail's value of 1.84 is 89.7% above this industry median. Based on the distribution chart, Aditya Birla Fashion and Retail ranks #600 out of 863 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Aditya Birla Fashion and Retail has a GF Score™ of 66/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Aditya Birla Fashion and Retail's Cyclically Adjusted PB Ratio compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Aditya Birla Fashion and Retail ranks #600 out of 863 companies for Cyclically Adjusted PB Ratio. This places Aditya Birla Fashion and Retail in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.97. Aditya Birla Fashion and Retail's value of 1.84 is 89.7% above this benchmark. Historically, Aditya Birla Fashion and Retail's own Cyclically Adjusted PB Ratio has ranged from 1.54 to 3.28 over the past decade. While the company's 10-year median is 2.25 vs. the industry median of 0.97, Aditya Birla Fashion and Retail has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Manufacturing - Apparel & Accessories company?
The median Cyclically Adjusted PB Ratio among Manufacturing - Apparel & Accessories companies is 0.97, based on 863 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aditya Birla Fashion and Retail's current Cyclically Adjusted PB Ratio of 1.84 is 89.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Aditya Birla Fashion and Retail and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Cyclically Adjusted PB Ratio is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aditya Birla Fashion and Retail's current Cyclically Adjusted PB Ratio is 1.84, which is 18% below median its own 10-year median of 2.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aditya Birla Fashion and Retail stock overvalued right now?
Based on GuruFocus' analysis, Aditya Birla Fashion and Retail (NSE:ABFRL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹79.14, compared to a current price of ₹58.94 — trading 25.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.84, which is 18% below median its 10-year median of 2.25 and 89.7% above the Manufacturing - Apparel & Accessories industry median of 0.97. Aditya Birla Fashion and Retail's overall GF Score™ is 66/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Aditya Birla Fashion and Retail (NSE:ABFRL), the current Cyclically Adjusted PB Ratio is 1.84 as of Jul. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Aditya Birla Fashion and Retail (NSE:ABFRL) Overvalued in 2026?

Based on GuruFocus' analysis, Aditya Birla Fashion and Retail stock appears to be undervalued. The current stock price of ₹58.94 is trading 25.5% below its estimated GF Value™ of ₹79.14. GuruFocus considers Aditya Birla Fashion and Retail to be Modestly Undervalued.

Key valuation signals for NSE:ABFRL:

  • Cyclically Adjusted PB Ratio: 1.84 (18% below median its 10-year median of 2.25)
  • GF Value™: ₹79.14 vs. price of ₹58.94 (25.5% below fair value)
  • GF Score™: 66/100 with 3 warning signs
  • Industry Position: 89.7% above the Manufacturing - Apparel & Accessories median (#600 of 863)

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


Aditya Birla Fashion and Retail Business Description

Other Exchanges 535755:India
Address HAL Old Airport Road, KH No 118/110/1, Building2 Divyashree Technopolis, PYemalur Post, Bengaluru, KA, IND, 560 037
Aditya Birla Fashion and Retail Ltd manufactures and retails branded apparel and runs a chain of apparels and accessories retail stores in India. It offers Clothing products, Handbags, Cosmetics, Perfumes, Fashion, Jewellery and Watches, among other products. The company's key brands include Louis Philippe, Van Heusen, Allen Solly and Peter England. The operating segments of the group are: Ethnic & Others that Manufacturing, distribution and retailing of branded fashion apparel and accessories; and Pantaloons which involves retailing of apparel and accessories. Geographically, the group has a business presence in India and Outside India, from which it generates a majority of its revenue in India.
66GF Score

Get the complete analysis for NSE:ABFRL

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

₹58.94
Price
₹79.14
GF Value