IndiGrid Infrastructure Trust (NSE:INDIGRID) Cyclically Adjusted PB Ratio: (As of Aug. 18, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:INDIGRID IndiGrid Infrastructure Trust NSE:INDIGRID
79 GF Score
Price ₹176.98
GF Value ₹206.20
Valuation Modestly Undervalued
! 7 Warning Signs
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What is IndiGrid Infrastructure Trust Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


IndiGrid Infrastructure Trust  (NSE:INDIGRID) 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.


IndiGrid Infrastructure Trust Cyclically Adjusted PB Ratio Related Terms


IndiGrid Infrastructure Trust Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for IndiGrid Infrastructure Trust'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.

IndiGrid Infrastructure Trust Cyclically Adjusted PB Ratio Chart

IndiGrid Infrastructure Trust Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
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IndiGrid Infrastructure Trust 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 0.00 0.00 0.00 0.00

NSE:INDIGRID vs CEG, VST, NRG: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Independent Power Producers subindustry, IndiGrid Infrastructure Trust'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.


IndiGrid Infrastructure Trust Cyclically Adjusted PB Ratio vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, IndiGrid Infrastructure Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:INDIGRID
79GF Score
IndiGrid Infrastructure Trust NSE:INDIGRID
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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IndiGrid Infrastructure Trust 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.

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

For example, IndiGrid Infrastructure Trust'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.

IndiGrid Infrastructure Trust Quarterly Data

Book Value per Share CPI Adj_Book
201503 11.185 97.163 19.265
201603 8.384 102.518 13.687
201703 0.000 105.196 0.000
201706 101.846 107.109 159.134
201709 0.000 109.021 0.000
201712 97.868 109.404 149.711
201803 97.437 109.786 148.532
201806 96.258 111.317 144.718
201809 0.000 115.142 0.000
201812 92.703 115.142 134.743
201903 91.086 118.202 128.965
201906 0.000 120.880 0.000
201909 0.000 123.175 0.000
201912 0.000 126.235 0.000
202003 83.564 124.705 112.145
202006 0.000 127.000 0.000
202009 0.000 130.118 0.000
202012 0.000 130.889 0.000
202103 66.874 131.771 84.934
202106 0.000 134.084 0.000
202109 0.000 135.847 0.000
202112 0.000 138.161 0.000
202203 77.384 138.822 93.291
202206 0.000 142.347 0.000
202209 0.000 144.661 0.000
202212 0.000 145.763 0.000
202303 70.806 146.865 80.686
202306 0.000 150.280 0.000
202309 68.572 151.492 75.753
202312 0.000 152.924 0.000
202403 67.509 153.035 73.827
202406 0.000 155.789 0.000
202409 0.000 157.882 0.000
202412 0.000 158.323 0.000
202503 61.866 157.552 65.716
202506 0.000 159.755 0.000
202509 55.277 162.289 57.003
202512 0.000 163.281 0.000
202603 63.749 164.272 64.946
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 IndiGrid Infrastructure Trust (NSE:INDIGRID) Overvalued in 2026?

Based on GuruFocus' analysis, IndiGrid Infrastructure Trust stock appears to be undervalued. The current stock price of ₹176.98 is trading 14.2% below its estimated GF Value™ of ₹206.20. GuruFocus considers IndiGrid Infrastructure Trust to be Modestly Undervalued.

Key valuation signals for NSE:INDIGRID:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹206.20 vs. price of ₹176.98 (14.2% below fair value)
  • GF Score™: 79/100 with 7 warning signs

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


IndiGrid Infrastructure Trust Business Description

Other Exchanges 540565:India
Address Off CST Road, Vidyanagari Marg, Unit No. 101, First Floor, Windsor, Village KoleKalyan, Kalina, Santacruz (East), Mumbai, MH, IND, 400 098
IndiGrid Infrastructure Trust, formerly India Grid Trust is an infrastructure investment trust established to own inter-state power transmission assets in India. The projects comprise extra high voltage (EHV) overhead power transmission lines, comprising approximately seven 765 kV transmission lines and thirty 400 kV transmission lines. The company has two distinct reportable segments: Power Transmission and Power generation. The power Transmission segment generates the majority of revenue and is engaged in the business of owning and maintaining transmission assets. The power Generation segment includes entities in the business of generating power through renewable sources such as solar etc.
79GF Score

Get the complete analysis for NSE:INDIGRID

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

₹176.98
Price
₹206.20
GF Value