Britannia Industries (NSE:BRITANNIA) Cyclically Adjusted PB Ratio: (As of Sep. 06, 2026)

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NSE:BRITANNIA Britannia Industries Ltd NSE:BRITANNIA
94 GF Score
Price ₹5,101.50
GF Value ₹6,094.99
Valuation Modestly Undervalued
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What is Britannia Industries Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Britannia Industries  (NSE:BRITANNIA) 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.


Britannia Industries Cyclically Adjusted PB Ratio Related Terms


Britannia Industries Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Britannia Industries'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.

Britannia Industries Cyclically Adjusted PB Ratio Chart

Britannia Industries 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 26.10 32.49 33.35 31.18 31.74

Britannia Industries 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 36.24 0.00 31.74 0.00

NSE:BRITANNIA vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Britannia Industries'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.


Britannia Industries Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Britannia Industries's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:BRITANNIA
94GF Score
Britannia Industries Ltd NSE:BRITANNIA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Britannia Industries 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.

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

For example, Britannia Industries'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.

Britannia Industries Quarterly Data

Book Value per Share CPI Adj_Book
201609 94.377 105.961 149.061
201612 0.000 105.196 0.000
201703 112.350 105.196 178.739
201706 0.000 107.109 0.000
201709 119.772 109.021 183.860
201712 0.000 109.404 0.000
201803 141.857 109.786 216.245
201806 0.000 111.317 0.000
201809 152.084 115.142 221.052
201812 0.000 115.142 0.000
201903 176.984 118.202 250.584
201906 0.000 120.880 0.000
201909 150.540 123.175 204.538
201912 0.000 126.235 0.000
202003 183.094 124.705 245.717
202006 0.000 127.000 0.000
202009 111.035 130.118 142.813
202012 0.000 130.889 0.000
202103 147.286 131.771 187.063
202106 0.000 134.084 0.000
202109 74.858 135.847 92.222
202112 0.000 138.161 0.000
202203 106.203 138.822 128.034
202206 0.000 142.347 0.000
202209 84.724 144.661 98.017
202212 0.000 145.763 0.000
202303 146.731 146.865 167.205
202306 0.000 150.280 0.000
202309 118.239 151.492 130.622
202312 0.000 152.924 0.000
202403 163.638 153.035 178.953
202406 0.000 155.789 0.000
202409 133.281 157.882 141.280
202412 0.000 158.323 0.000
202503 180.834 157.552 192.089
202506 0.000 159.755 0.000
202509 155.005 162.289 159.846
202512 0.000 163.281 0.000
202603 212.007 164.272 215.988
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 Britannia Industries (NSE:BRITANNIA) Overvalued in 2026?

Based on GuruFocus' analysis, Britannia Industries stock appears to be undervalued. The current stock price of ₹5,101.50 is trading 16.3% below its estimated GF Value™ of ₹6,094.99. GuruFocus considers Britannia Industries to be Modestly Undervalued.

Key valuation signals for NSE:BRITANNIA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹6,094.99 vs. price of ₹5,101.50 (16.3% below fair value)
  • GF Score™: 94/100

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


Britannia Industries Business Description

Other Exchanges 500825:India
Address Whitefield Main Road, The Business Precinct, Tower C, 15th, 16th & 17th Floor, Prestige Shantiniketan, Mahadevapura Post, Bengaluru, KA, IND, 560048
Britannia Industries Ltd is an Indian packaged-food company involved in the Manufacturing, trading, and selling food products. Its main product categories are biscuits, breads, dairy, cakes, and rusks. The biscuits product line offers sweet biscuits under the GoodDay brand, crackers under the Five thousand fifty brands, nutritional and digestive biscuits under the NutriChoice brand, and other products. The bread products segment offers whole-wheat breads, white sandwich breads, and bread assortments. The dairy product line sells cheese, milk, and yogurt under the Britannia brand. The cake segment offers bar cakes, muffins, and many more. The operating segment of the Company is identified to be Foods.
94GF Score

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

₹5,101.50
Price
₹6,094.99
GF Value