Amal (NSE:AMAL) Cyclically Adjusted PB Ratio: (As of Aug. 22, 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.

NSE:AMAL Amal Ltd NSE:AMAL
66 GF Score
Price ₹772.95
GF Value ₹1,319.84
Valuation Possible Value Trap
! 2 Warning Signs
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What is Amal Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Amal  (NSE:AMAL) 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.


Amal Cyclically Adjusted PB Ratio Related Terms


Amal Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Amal'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.

Amal Cyclically Adjusted PB Ratio Chart

Amal 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 601.12 27.26 22.31 25.54 10.51

Amal 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 26.49 0.00 10.51 0.00

NSE:AMAL vs : Cyclically Adjusted PB Ratio Comparison

For the Chemicals subindustry, Amal'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.


Amal Cyclically Adjusted PB Ratio vs Chemicals Industry

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

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


NSE:AMAL
66GF Score
Amal Ltd NSE:AMAL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Amal 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.

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

For example, Amal'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)
=0/333.9520*333.9520
=0.000

Current CPI (Jun. 2026) = 333.9520.

Amal Quarterly Data

Book Value per Share CPI Adj_Book
201609 -16.576 241.428 -22.929
201612 0.000 241.432 0.000
201703 -1.074 243.801 -1.471
201706 0.000 244.955 0.000
201709 3.321 246.819 4.493
201712 0.000 246.524 0.000
201803 8.281 249.554 11.082
201806 0.000 251.989 0.000
201809 13.560 252.439 17.939
201812 0.000 251.233 0.000
201903 15.751 254.202 20.693
201906 0.000 256.143 0.000
201909 20.883 256.759 27.161
201912 0.000 256.974 0.000
202003 24.560 258.115 31.776
202006 0.000 257.797 0.000
202009 26.873 260.280 34.479
202012 0.000 260.474 0.000
202103 32.919 264.877 41.504
202106 0.000 271.696 0.000
202109 30.500 274.310 37.131
202112 0.000 278.802 0.000
202203 28.865 287.504 33.528
202206 0.000 296.311 0.000
202209 27.915 296.808 31.408
202212 0.000 296.797 0.000
202303 48.252 301.836 53.386
202306 0.000 305.109 0.000
202309 54.680 307.789 59.328
202312 0.000 306.746 0.000
202403 56.013 312.332 59.890
202406 0.000 314.175 0.000
202409 61.355 315.301 64.984
202412 0.000 315.605 0.000
202503 80.184 319.799 83.733
202506 0.000 322.561 0.000
202509 91.720 324.800 94.304
202512 0.000 324.054 0.000
202603 97.415 330.213 98.518
202606 0.000 333.952 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 Amal (NSE:AMAL) Overvalued in 2026?

Based on GuruFocus' analysis, Amal stock appears to be undervalued. The current stock price of ₹772.95 is trading 41.4% below its estimated GF Value™ of ₹1,319.84. GuruFocus considers Amal to be Possible Value Trap.

Key valuation signals for NSE:AMAL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹1,319.84 vs. price of ₹772.95 (41.4% below fair value)
  • GF Score™: 66/100 with 2 warning signs

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


Amal Business Description

Comparable Companies
Other Exchanges 506597:India
Address Atul, Valsad, GJ, IND, 396 020
Amal Ltd is engaged in manufacturing and marketing bulk chemicals. The company produces Sulphuric Acid and Oleum and their downstream products such as Sulphur Dioxide and Sulphur Trioxide. Its product is used in Dyestuff, Textile, Electroplating, Breweries and Food Industries. The Company operates in a single business segment which is the manufacturing of bulk chemicals.
66GF Score

Get the complete analysis for NSE:AMAL

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

₹772.95
Price
₹1,319.84
GF Value