Agarwal Industrial (NSE:AGARIND) Cyclically Adjusted PB Ratio: (As of Sep. 08, 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.

NSE:AGARIND Agarwal Industrial Corp Ltd NSE:AGARIND
79 GF Score
Price ₹440.20
GF Value ₹618.09
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Agarwal Industrial Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Agarwal Industrial  (NSE:AGARIND) 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.


Agarwal Industrial Cyclically Adjusted PB Ratio Related Terms


Agarwal Industrial Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Agarwal Industrial'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.

Agarwal Industrial Cyclically Adjusted PB Ratio Chart

Agarwal Industrial 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 4.54 3.33 4.08 4.22 1.35

Agarwal Industrial 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 3.72 0.00 1.35 0.00

NSE:AGARIND vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Agarwal Industrial'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.


Agarwal Industrial Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Agarwal Industrial's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:AGARIND
79GF Score
Agarwal Industrial Corp Ltd NSE:AGARIND
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Agarwal Industrial 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.

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

For example, Agarwal Industrial'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.

Agarwal Industrial Quarterly Data

Book Value per Share CPI Adj_Book
201609 78.065 105.961 123.298
201612 0.000 105.196 0.000
201703 109.143 105.196 173.637
201706 0.000 107.109 0.000
201709 112.719 109.021 173.033
201712 0.000 109.404 0.000
201803 118.828 109.786 181.140
201806 0.000 111.317 0.000
201809 121.904 115.142 177.186
201812 0.000 115.142 0.000
201903 130.161 118.202 184.289
201906 0.000 120.880 0.000
201909 0.000 123.175 0.000
201912 0.000 126.235 0.000
202003 153.529 124.705 206.040
202006 0.000 127.000 0.000
202009 157.777 130.118 202.932
202012 0.000 130.889 0.000
202103 191.153 131.771 242.777
202106 0.000 134.084 0.000
202109 195.270 135.847 240.564
202112 0.000 138.161 0.000
202203 223.001 138.822 268.840
202206 0.000 142.347 0.000
202209 233.652 144.661 270.310
202212 0.000 145.763 0.000
202303 269.896 146.865 307.556
202306 0.000 150.280 0.000
202309 297.551 151.492 328.713
202312 0.000 152.924 0.000
202403 341.635 153.035 373.609
202406 0.000 155.789 0.000
202409 377.683 157.882 400.349
202412 0.000 158.323 0.000
202503 419.237 157.552 445.329
202506 0.000 159.755 0.000
202509 438.884 162.289 452.590
202512 0.000 163.281 0.000
202603 460.630 164.272 469.280
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 Agarwal Industrial (NSE:AGARIND) Overvalued in 2026?

Based on GuruFocus' analysis, Agarwal Industrial stock appears to be undervalued. The current stock price of ₹440.20 is trading 28.8% below its estimated GF Value™ of ₹618.09. GuruFocus considers Agarwal Industrial to be Modestly Undervalued.

Key valuation signals for NSE:AGARIND:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹618.09 vs. price of ₹440.20 (28.8% below fair value)
  • GF Score™: 79/100 with 6 warning signs

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


Agarwal Industrial Business Description

Other Exchanges 531921:India
Address S.T. Road, V.N. Purav Marg, Plot Number 12, Eastern Court, Unit No. 201-202, Chembur, Mumbai, MH, IND, 400 071
Agarwal Industrial Corp Ltd is engaged in manufacturing and trading petrochemicals, Bitumen and Liquefied Petroleum Gas (LPG) logistics, and energy generation through windmills. The company's operating segment includes the Ancillary Infra - Bitumen & Allied products; Logistics and Windmill. It generates maximum revenue from the Ancillary Infra - Bitumen & Allied products segment, including Bituminous and Allied Products. The company's product categories include Paving Grade Bitumen; Industrial Grade Bitumen; Bitumen Emulsion for Road Construction; CRMB: Crumb Rubber Modified Bitumen; Polymer Modified bitumen (PMB); Byproducts/Waterproofing materials; and Bituminous Expansion Jointing Boards.
79GF Score

Get the complete analysis for NSE:AGARIND

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

₹440.20
Price
₹618.09
GF Value