Madhav Marbles & Granites (NSE:MADHAV) Cyclically Adjusted PB Ratio: (As of Sep. 14, 2026)

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Director of Data and Quant Analytics at GuruFocus
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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:MADHAV Madhav Marbles & Granites Ltd NSE:MADHAV
62 GF Score
Price ₹36.29
GF Value ₹37.75
Valuation Fairly Valued
! 3 Warning Signs
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What is Madhav Marbles & Granites Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Madhav Marbles & Granites  (NSE:MADHAV) 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.


Madhav Marbles & Granites Cyclically Adjusted PB Ratio Related Terms


Madhav Marbles & Granites Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Madhav Marbles & Granites'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.

Madhav Marbles & Granites Cyclically Adjusted PB Ratio Chart

Madhav Marbles & Granites 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 0.31 0.23 0.22 0.22 0.17

Madhav Marbles & Granites 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 0.24 0.00 0.17 0.00

NSE:MADHAV vs TT, JCI, CARR: Cyclically Adjusted PB Ratio Comparison

For the Building Products & Equipment subindustry, Madhav Marbles & Granites'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.


Madhav Marbles & Granites Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Madhav Marbles & Granites's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Madhav Marbles & Granites's Cyclically Adjusted PB Ratio falls into.


NSE:MADHAV
62GF Score
Madhav Marbles & Granites Ltd NSE:MADHAV
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Madhav Marbles & Granites 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.

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

For example, Madhav Marbles & Granites'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.

Madhav Marbles & Granites Quarterly Data

Book Value per Share CPI Adj_Book
201609 135.461 105.961 213.950
201612 0.000 105.196 0.000
201703 137.994 105.196 219.536
201706 0.000 107.109 0.000
201709 136.668 109.021 209.797
201712 0.000 109.404 0.000
201803 138.749 109.786 211.508
201806 0.000 111.317 0.000
201809 142.023 115.142 206.429
201812 0.000 115.142 0.000
201903 143.688 118.202 203.442
201906 0.000 120.880 0.000
201909 145.106 123.175 197.155
201912 0.000 126.235 0.000
202003 145.718 124.705 195.557
202006 0.000 127.000 0.000
202009 147.800 130.118 190.100
202012 0.000 130.889 0.000
202103 146.896 131.771 186.568
202106 0.000 134.084 0.000
202109 146.696 135.847 180.723
202112 0.000 138.161 0.000
202203 143.799 138.822 173.358
202206 0.000 142.347 0.000
202209 142.972 144.661 165.403
202212 0.000 145.763 0.000
202303 141.294 146.865 161.009
202306 0.000 150.280 0.000
202309 140.207 151.492 154.890
202312 0.000 152.924 0.000
202403 139.674 153.035 152.746
202406 0.000 155.789 0.000
202409 139.593 157.882 147.970
202412 0.000 158.323 0.000
202503 138.949 157.552 147.597
202506 0.000 159.755 0.000
202509 138.251 162.289 142.568
202512 0.000 163.281 0.000
202603 138.334 164.272 140.932
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 Madhav Marbles & Granites (NSE:MADHAV) Overvalued in 2026?

Based on GuruFocus' analysis, Madhav Marbles & Granites stock appears to be undervalued. The current stock price of ₹36.29 is trading 3.9% below its estimated GF Value™ of ₹37.75. GuruFocus considers Madhav Marbles & Granites to be Fairly Valued.

Key valuation signals for NSE:MADHAV:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹37.75 vs. price of ₹36.29 (3.9% below fair value)
  • GF Score™: 62/100 with 3 warning signs

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


Madhav Marbles & Granites Business Description

Other Exchanges 515093:India
Address 16, Saheli Marg, First Floor, Mumal Towers, Udaipur, RJ, IND, 313001
Madhav Marbles & Granites Ltd engages in processing and exporting natural stone products including marble, granite, quartz, quartzite, and sandstone. Its operations include a Granite Division based in South India in a region known for granite reserves, and a Marble Division located in North India near the green marble quarries. The company generates revenue through manufacturing and exporting natural stone slabs and tiles to the markets of various countries, including North America, South America, Europe, Australia, South Africa, Russia, and the Far East. Its facilities are situated close to raw material sources, supporting efficient procurement and production. The company also includes segments related to realty and power generation alongside its core stone processing business.
62GF Score

Get the complete analysis for NSE:MADHAV

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

₹36.29
Price
₹37.75
GF Value