Reliance Industrial Infrastructure (NSE:RIIL) Cyclically Adjusted PB Ratio: (As of Jul. 27, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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NSE:RIIL Reliance Industrial Infrastructure Ltd NSE:RIIL
68 GF Score
Price ₹729.55
GF Value ₹747.28
Valuation Fairly Valued
! 3 Warning Signs
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What is Reliance Industrial Infrastructure Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Reliance Industrial Infrastructure  (NSE:RIIL) 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.


Reliance Industrial Infrastructure Cyclically Adjusted PB Ratio Related Terms


Reliance Industrial Infrastructure Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Reliance Industrial Infrastructure'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.

Reliance Industrial Infrastructure Cyclically Adjusted PB Ratio Chart

Reliance Industrial Infrastructure 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 2.84 2.69 4.19 2.55 1.90

Reliance Industrial Infrastructure 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 2.63 0.00 1.90 0.00

NSE:RIIL vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Reliance Industrial Infrastructure'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.


Reliance Industrial Infrastructure Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Reliance Industrial Infrastructure's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:RIIL
68GF Score
Reliance Industrial Infrastructure Ltd NSE:RIIL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Reliance Industrial Infrastructure 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.

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

For example, Reliance Industrial Infrastructure'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)
=0/166.1454*166.1454
=0.000

Current CPI (Jun. 2026) = 166.1454.

Reliance Industrial Infrastructure Quarterly Data

Book Value per Share CPI Adj_Book
201512 0.000 102.901 0.000
201603 217.754 102.518 352.901
201606 0.000 105.961 0.000
201609 0.000 105.961 0.000
201703 226.681 105.196 358.017
201706 0.000 107.109 0.000
201709 210.041 109.021 320.096
201803 234.463 109.786 354.825
201809 0.000 115.142 0.000
201812 0.000 115.142 0.000
201903 245.487 118.202 345.058
201906 0.000 120.880 0.000
201909 245.409 123.175 331.022
201912 0.000 126.235 0.000
202003 245.220 124.705 326.708
202006 0.000 127.000 0.000
202009 271.486 130.118 346.656
202012 0.000 130.889 0.000
202103 272.819 131.771 343.989
202106 0.000 134.084 0.000
202109 284.985 135.847 348.546
202112 0.000 138.161 0.000
202203 288.027 138.822 344.718
202206 0.000 142.347 0.000
202209 281.518 144.661 323.328
202212 0.000 145.763 0.000
202303 285.543 146.865 323.030
202306 0.000 150.280 0.000
202309 291.009 151.492 319.157
202312 0.000 152.924 0.000
202403 312.152 153.035 338.895
202406 0.000 155.789 0.000
202409 312.657 157.882 329.021
202412 0.000 158.323 0.000
202503 305.788 157.552 322.467
202506 0.000 159.755 0.000
202509 311.722 162.289 319.129
202512 0.000 163.281 0.000
202603 313.848 164.272 317.426
202606 0.000 166.145 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 Reliance Industrial Infrastructure (NSE:RIIL) Overvalued in 2026?

Based on GuruFocus' analysis, Reliance Industrial Infrastructure stock appears to be undervalued. The current stock price of ₹729.55 is trading 2.4% below its estimated GF Value™ of ₹747.28. GuruFocus considers Reliance Industrial Infrastructure to be Fairly Valued.

Key valuation signals for NSE:RIIL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹747.28 vs. price of ₹729.55 (2.4% below fair value)
  • GF Score™: 68/100 with 3 warning signs

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


Reliance Industrial Infrastructure Business Description

Other Exchanges 523445:India
Address Lokmanya Tilak Marg, 4th Floor, Court House, Dhobi Talao, Mumbai, MH, IND, 400 002
Reliance Industrial Infrastructure Ltd is engaged in the Infrastructure and Support Services Activities. Its main activities are pipelines for transportation of petroleum products, natural gas & raw water, and other infrastructure support services. The Company has its operations mainly in the Mumbai and the Rasayani regions of Maharashtra, and Hazira (Surat) in Gujarat.
68GF Score

Get the complete analysis for NSE:RIIL

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

₹729.55
Price
₹747.28
GF Value