Indokem (NSE:INDOKEM) Cyclically Adjusted PB Ratio: (As of Aug. 20, 2026)

Author: Vera Yuan 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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Charlie Tian
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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:INDOKEM Indokem Ltd NSE:INDOKEM
41 GF Score
Price ₹587.35
GF Value ₹153.58
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Indokem 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


Indokem  (NSE:INDOKEM) 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.


Indokem Cyclically Adjusted PB Ratio Related Terms


Indokem Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Indokem'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.

Indokem Cyclically Adjusted PB Ratio Chart

Indokem 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 3.95 7.63 6.30 10.80 25.48

Indokem 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 27.29 0.00 25.48 0.00

NSE:INDOKEM vs : Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Indokem'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.


Indokem Cyclically Adjusted PB Ratio vs Chemicals Industry

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

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


NSE:INDOKEM
41GF Score
Indokem Ltd NSE:INDOKEM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Indokem 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.

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

For example, Indokem'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.

Indokem Quarterly Data

Book Value per Share CPI Adj_Book
201609 11.912 241.428 16.477
201612 0.000 241.432 0.000
201703 12.698 243.801 17.393
201706 0.000 244.955 0.000
201709 12.719 246.819 17.209
201712 0.000 246.524 0.000
201803 11.897 249.554 15.921
201806 0.000 251.989 0.000
201809 12.180 252.439 16.113
201812 0.000 251.233 0.000
201903 11.836 254.202 15.549
201906 0.000 256.143 0.000
201909 10.562 256.759 13.737
201912 0.000 256.974 0.000
202003 11.876 258.115 15.365
202006 0.000 257.797 0.000
202009 12.171 260.280 15.616
202012 0.000 260.474 0.000
202103 12.900 264.877 16.264
202106 0.000 271.696 0.000
202109 13.718 274.310 16.701
202112 0.000 278.802 0.000
202203 14.353 287.504 16.672
202206 0.000 296.311 0.000
202209 11.383 296.808 12.808
202212 0.000 296.797 0.000
202303 25.240 301.836 27.926
202306 0.000 305.109 0.000
202309 20.320 307.789 22.047
202312 0.000 306.746 0.000
202403 21.050 312.332 22.507
202406 0.000 314.175 0.000
202409 20.493 315.301 21.705
202412 0.000 315.605 0.000
202503 22.077 319.799 23.054
202506 0.000 322.561 0.000
202509 23.137 324.800 23.789
202512 0.000 324.054 0.000
202603 23.950 330.213 24.221
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 Indokem (NSE:INDOKEM) Overvalued in 2026?

Based on GuruFocus' analysis, Indokem stock appears to be overvalued. The current stock price of ₹587.35 is trading 282.4% above its estimated GF Value™ of ₹153.58. GuruFocus considers Indokem to be Significantly Overvalued.

Key valuation signals for NSE:INDOKEM:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹153.58 vs. price of ₹587.35 (282.4% above fair value)
  • GF Score™: 41/100 with 3 warning signs

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


Indokem Business Description

Comparable Companies
Other Exchanges 504092:India
Address Mogul Lane, Plot No. 410 / 411, Khatau House, Mahim (West), Mumbai, MH, IND, 400016
Indokem Ltd is an India-based company engaged in the business of dyes, auxiliaries, and sizing chemicals and auxiliaries used in the textile industry. It is also engaged in the manufacturing and marketing of resins and chemicals. The company operates in two segments: textile dyes and chemicals, and electrical capacitors. It generates the majority of its revenues from the sale of manufactured goods and traded goods.
41GF Score

Get the complete analysis for NSE:INDOKEM

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

₹587.35
Price
₹153.58
GF Value