VIP Industries (NSE:VIPIND) Cyclically Adjusted PB Ratio: (As of Aug. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
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:VIPIND VIP Industries Ltd NSE:VIPIND
73 GF Score
Price ₹302.60
GF Value ₹389.69
Valuation Modestly Undervalued
! 7 Warning Signs
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What is VIP Industries Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


VIP Industries  (NSE:VIPIND) 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.


VIP Industries Cyclically Adjusted PB Ratio Related Terms


VIP Industries Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for VIP Industries'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.

VIP Industries Cyclically Adjusted PB Ratio Chart

VIP Industries 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 0.00 14.73 11.89 5.87 6.32

VIP Industries 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 8.62 0.00 6.32 0.00

NSE:VIPIND vs NKE, DECK, ONON: Cyclically Adjusted PB Ratio Comparison

For the Footwear & Accessories subindustry, VIP Industries'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.


VIP Industries Cyclically Adjusted PB Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, VIP Industries's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:VIPIND
73GF Score
VIP Industries Ltd NSE:VIPIND
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

VIP Industries 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.

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

For example, VIP Industries'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.

VIP Industries Quarterly Data

Book Value per Share CPI Adj_Book
201609 27.377 105.961 43.240
201612 0.000 105.196 0.000
201703 28.864 105.196 45.920
201706 0.000 107.109 0.000
201709 31.457 109.021 48.289
201712 0.000 109.404 0.000
201803 34.609 109.786 52.758
201806 0.000 111.317 0.000
201809 39.426 115.142 57.305
201812 0.000 115.142 0.000
201903 41.140 118.202 58.248
201906 0.000 120.880 0.000
201909 43.619 123.175 59.265
201912 0.000 126.235 0.000
202003 43.173 124.705 57.939
202006 0.000 127.000 0.000
202009 36.988 130.118 47.574
202012 0.000 130.889 0.000
202103 36.597 131.771 46.481
202106 0.000 134.084 0.000
202109 38.432 135.847 47.346
202112 0.000 138.161 0.000
202203 39.560 138.822 47.692
202206 0.000 142.347 0.000
202209 47.162 144.661 54.561
202212 0.000 145.763 0.000
202303 45.299 146.865 51.620
202306 0.000 150.280 0.000
202309 50.433 151.492 55.715
202312 0.000 152.924 0.000
202403 47.756 153.035 52.226
202406 0.000 155.789 0.000
202409 45.654 157.882 48.394
202412 0.000 158.323 0.000
202503 43.385 157.552 46.085
202506 0.000 159.755 0.000
202509 32.655 162.289 33.675
202512 0.000 163.281 0.000
202603 20.380 164.272 20.763
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 VIP Industries (NSE:VIPIND) Overvalued in 2026?

Based on GuruFocus' analysis, VIP Industries stock appears to be undervalued. The current stock price of ₹302.60 is trading 22.3% below its estimated GF Value™ of ₹389.69. GuruFocus considers VIP Industries to be Modestly Undervalued.

Key valuation signals for NSE:VIPIND:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹389.69 vs. price of ₹302.60 (22.3% below fair value)
  • GF Score™: 73/100 with 7 warning signs

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


VIP Industries Business Description

Other Exchanges 507880:India
Address 88-C, Old Prabhadevi Road, DGP House, 5th Floor, Mumbai, MH, IND, 400 025
VIP Industries Ltd is a luggage manufacturer based in India. The company's only segment is the manufacturing and marketing of luggage, bags, and accessories. Geographically, it derives a majority of revenue from India. VIP has a range of brands across luggage categories including Carlton, VIP Bags, Skybags, Aristocrat, Alfa, and Caprese through which it sells trolleys, rucksacks, backpacks, duffel bags, laptop bags, travel accessories, short-haul essentials, soft uprights, vanity cases, hard suitcases, briefcases, and others.
73GF Score

Get the complete analysis for NSE:VIPIND

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

₹302.60
Price
₹389.69
GF Value