Berger Paints India (NSE:BERGEPAINT) Cyclically Adjusted PB Ratio: (As of Aug. 19, 2026)

Author: Vera Yuan Vera Yuan
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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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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:BERGEPAINT Berger Paints India Ltd NSE:BERGEPAINT
96 GF Score
Price ₹541.20
GF Value ₹582.29
Valuation Fairly Valued
! 3 Warning Signs
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What is Berger Paints India Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Berger Paints India  (NSE:BERGEPAINT) 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.


Berger Paints India Cyclically Adjusted PB Ratio Related Terms


Berger Paints India Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Berger Paints India'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.

Berger Paints India Cyclically Adjusted PB Ratio Chart

Berger Paints India 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 26.93 19.56 20.00 15.26 10.86

Berger Paints India 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 14.52 0.00 10.86 0.00

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

For the Specialty Chemicals subindustry, Berger Paints India'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.


Berger Paints India Cyclically Adjusted PB Ratio vs Chemicals Industry

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

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


NSE:BERGEPAINT
96GF Score
Berger Paints India Ltd NSE:BERGEPAINT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Berger Paints India 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.

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

For example, Berger Paints India'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.

Berger Paints India Quarterly Data

Book Value per Share CPI Adj_Book
201609 14.184 105.961 22.403
201612 0.000 105.196 0.000
201703 16.320 105.196 25.964
201706 0.000 107.109 0.000
201709 16.657 109.021 25.570
201712 0.000 109.404 0.000
201803 18.631 109.786 28.401
201806 0.000 111.317 0.000
201809 19.118 115.142 27.788
201812 0.000 115.142 0.000
201903 20.971 118.202 29.692
201906 0.000 120.880 0.000
201909 21.939 123.175 29.808
201912 0.000 126.235 0.000
202003 22.825 124.705 30.632
202006 0.000 127.000 0.000
202009 24.604 130.118 31.646
202012 0.000 130.889 0.000
202103 28.972 131.771 36.796
202106 0.000 134.084 0.000
202109 29.697 135.847 36.585
202112 0.000 138.161 0.000
202203 33.691 138.822 40.616
202206 0.000 142.347 0.000
202209 35.175 144.661 40.694
202212 0.000 145.763 0.000
202303 38.553 146.865 43.932
202306 0.000 150.280 0.000
202309 41.537 151.492 45.887
202312 0.000 152.924 0.000
202403 46.140 153.035 50.458
202406 0.000 155.789 0.000
202409 47.959 157.882 50.837
202412 0.000 158.323 0.000
202503 52.784 157.552 56.069
202506 0.000 159.755 0.000
202509 53.859 162.289 55.541
202512 0.000 163.281 0.000
202603 59.315 164.272 60.429
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 Berger Paints India (NSE:BERGEPAINT) Overvalued in 2026?

Based on GuruFocus' analysis, Berger Paints India stock appears to be undervalued. The current stock price of ₹541.20 is trading 7.1% below its estimated GF Value™ of ₹582.29. GuruFocus considers Berger Paints India to be Fairly Valued.

Key valuation signals for NSE:BERGEPAINT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹582.29 vs. price of ₹541.20 (7.1% below fair value)
  • GF Score™: 96/100 with 3 warning signs

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


Berger Paints India Business Description

Other Exchanges 509480:India
Address Plot No. CF-4, Action Area-IC, New Town, Kolkata, WB, IND, 700 017
Berger Paints India Ltd manufactures and sells a variety of paints, coatings, and sealants. The majority of the company's revenue comes from the sale of decorative acrylic paints used for interior and exterior housing, wood coatings, primers, thinners, and putties under the Berger brand name. The company also sells industrial paints to the automotive industry as well as protective and powder coatings used to protect steel, concrete, furniture, hospital items, and garden tools. All the revenue comes from India.
96GF Score

Get the complete analysis for NSE:BERGEPAINT

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

₹541.20
Price
₹582.29
GF Value