Madras Fertilizers (NSE:MADRASFERT) Cyclically Adjusted PB Ratio: (As of Jul. 24, 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:MADRASFERT Madras Fertilizers Ltd NSE:MADRASFERT
69 GF Score
Price ₹66.63
GF Value ₹261.40
Valuation Possible Value Trap
! 4 Warning Signs
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What is Madras Fertilizers Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Madras Fertilizers  (NSE:MADRASFERT) 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.


Madras Fertilizers Cyclically Adjusted PB Ratio Related Terms


Madras Fertilizers Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Madras Fertilizers'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.

Madras Fertilizers Cyclically Adjusted PB Ratio Chart

Madras Fertilizers Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
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Madras Fertilizers Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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:MADRASFERT vs CTVA, CF, MOS: Cyclically Adjusted PB Ratio Comparison

For the Agricultural Inputs subindustry, Madras Fertilizers'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.


Madras Fertilizers Cyclically Adjusted PB Ratio vs Agriculture Industry

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

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


NSE:MADRASFERT
69GF Score
Madras Fertilizers Ltd NSE:MADRASFERT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Madras Fertilizers 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.

Madras Fertilizers's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Madras Fertilizers's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=5.723/164.2724*164.2724
=5.723

Current CPI (Mar. 2026) = 164.2724.

Madras Fertilizers Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.000 105.961 0.000
201609 -34.653 105.961 -53.723
201612 0.000 105.196 0.000
201703 -26.696 105.196 -41.688
201706 0.000 107.109 0.000
201709 -42.149 109.021 -63.510
201712 0.000 109.404 0.000
201803 -30.542 109.786 -45.700
201806 0.000 111.317 0.000
201809 -36.731 115.142 -52.404
201812 0.000 115.142 0.000
201903 -36.061 118.202 -50.116
201906 0.000 120.880 0.000
201909 -44.027 123.175 -58.717
201912 0.000 126.235 0.000
202003 -45.291 124.705 -59.661
202006 0.000 127.000 0.000
202009 -41.000 130.118 -51.762
202012 0.000 130.889 0.000
202103 -43.155 131.771 -53.799
202106 0.000 134.084 0.000
202109 -39.413 135.847 -47.660
202112 0.000 138.161 0.000
202203 -31.372 138.822 -37.124
202206 0.000 142.347 0.000
202209 -23.990 144.661 -27.242
202212 0.000 145.763 0.000
202303 -17.819 146.865 -19.931
202306 0.000 150.280 0.000
202309 -14.301 151.492 -15.507
202312 0.000 152.924 0.000
202403 -11.776 153.035 -12.641
202406 0.000 155.789 0.000
202409 -3.132 157.882 -3.259
202412 0.000 158.323 0.000
202503 -2.005 157.552 -2.091
202506 0.000 159.755 0.000
202509 1.526 162.289 1.545
202512 0.000 163.281 0.000
202603 5.723 164.272 5.723

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 Madras Fertilizers (NSE:MADRASFERT) Overvalued in 2026?

Based on GuruFocus' analysis, Madras Fertilizers stock appears to be undervalued. The current stock price of ₹66.63 is trading 74.5% below its estimated GF Value™ of ₹261.40. GuruFocus considers Madras Fertilizers to be Possible Value Trap.

Key valuation signals for NSE:MADRASFERT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹261.40 vs. price of ₹66.63 (74.5% below fair value)
  • GF Score™: 69/100 with 4 warning signs

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


Madras Fertilizers Business Description

Other Exchanges 590134:India
Address Post Bag No. 2, Manali, Chennai, TN, IND, 600068
Madras Fertilizers Ltd is engaged in the manufacture of ammonia, urea, and complex fertilizers. It is also engaged in manufacturing bio-fertilizers and marketing fertilizers and agrochemicals under the brand name Vijay. The company operates through the manufacture and sale of fertilizers segment. It also provides biofertilizers, including Azospirillum for paddy, plantation crops, and other crops; Rhizobium for groundnuts and pulses; and Phosphor Bacteria and NP Bio for various crops.
69GF Score

Get the complete analysis for NSE:MADRASFERT

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

₹66.63
Price
₹261.40
GF Value