UCLQF (UltraTech Cement) Cyclically Adjusted PB Ratio: (As of Jul. 24, 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.
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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.

UCLQF UltraTech Cement Ltd UCLQF
94 GF Score
Price $103.00
GF Value $118.24
! 3 Warning Signs
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What is UltraTech Cement Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


UltraTech Cement  (OTCPK:UCLQF) 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.


UltraTech Cement Cyclically Adjusted PB Ratio Related Terms


UltraTech Cement Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for UltraTech Cement'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.

UltraTech Cement Cyclically Adjusted PB Ratio Chart

UltraTech Cement 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 5.53 5.41 6.31 6.75 5.64

UltraTech Cement 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 6.72 0.00 5.64 0.00

UCLQF vs CRH, VMC, MLM: Cyclically Adjusted PB Ratio Comparison

For the Building Materials subindustry, UltraTech Cement'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.


UltraTech Cement Cyclically Adjusted PB Ratio vs Building Materials Industry

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

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


UCLQF
94GF Score
UltraTech Cement Ltd UCLQF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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UltraTech Cement 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.

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

For example, UltraTech Cement'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.

UltraTech Cement Quarterly Data

Book Value per Share CPI Adj_Book
201609 12.579 105.961 19.724
201612 0.000 105.196 0.000
201703 13.504 105.196 21.328
201706 0.000 107.109 0.000
201709 14.330 109.021 21.838
201712 0.000 109.404 0.000
201803 14.769 109.786 22.351
201806 0.000 111.317 0.000
201809 13.679 115.142 19.738
201812 0.000 115.142 0.000
201903 17.698 118.202 24.876
201906 0.000 120.880 0.000
201909 17.973 123.175 24.243
201912 0.000 126.235 0.000
202003 18.159 124.705 24.193
202006 0.000 127.000 0.000
202009 19.216 130.118 24.537
202012 0.000 130.889 0.000
202103 21.031 131.771 26.517
202106 0.000 134.084 0.000
202109 21.718 135.847 26.562
202112 0.000 138.161 0.000
202203 22.953 138.822 27.471
202206 0.000 142.347 0.000
202209 22.254 144.661 25.559
202212 0.000 145.763 0.000
202303 22.908 146.865 25.915
202306 0.000 150.280 0.000
202309 23.456 151.492 25.725
202312 0.000 152.924 0.000
202403 25.172 153.035 27.329
202406 0.000 155.789 0.000
202409 25.411 157.882 26.741
202412 0.000 158.323 0.000
202503 27.783 157.552 29.298
202506 0.000 159.755 0.000
202509 27.732 162.289 28.391
202512 0.000 163.281 0.000
202603 28.063 164.272 28.383
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 UltraTech Cement (UCLQF) Overvalued in 2026?

Based on GuruFocus' analysis, UltraTech Cement stock appears to be undervalued. The current stock price of $103.00 is trading 12.9% below its estimated GF Value™ of $118.24.

Key valuation signals for UCLQF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $118.24 vs. price of $103.00 (12.9% below fair value)
  • GF Score™: 94/100 with 3 warning signs

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


UltraTech Cement Business Description

Address Mahakali Caves Road, B Wing, Ahura Centre, 2nd Floor, Andheri (East), Mumbai, MH, IND, 400093
UltraTech Cement Ltd produces and sells cement and cement-related products. The company generates the vast majority of its revenue in India. The company's product portfolio includes Ordinary Portland cement, Portland blast-furnace slag cement, and Portland Pozzolana cement. Ordinary Portland cement is used for a wide range of applications including concrete products, masonry, and plastering. The firm's customers are in the building and construction industries. Geographically, it operates in India as well as in other countries, of which India derives key revenue.
94GF Score

Get the complete analysis for UCLQF

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

$103.00
Price
$118.24
GF Value