AJR Infra & Tolling (BOM:532959) Cyclically Adjusted PS Ratio: (As of Sep. 02, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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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.

BOM:532959 AJR Infra & Tolling Ltd BOM:532959
9 GF Score
Price ₹0.68
GF Value ₹0.62
! 1 Warning Sign
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What is AJR Infra & Tolling Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


AJR Infra & Tolling  (BOM:532959) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


AJR Infra & Tolling Cyclically Adjusted PS Ratio Related Terms


AJR Infra & Tolling Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for AJR Infra & Tolling's Cyclically Adjusted PS 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.

AJR Infra & Tolling Cyclically Adjusted PS Ratio Chart

AJR Infra & Tolling Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.14 0.10 0.00 0.00

AJR Infra & Tolling Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS 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

BOM:532959 vs VRRM: Cyclically Adjusted PS Ratio Comparison

For the Infrastructure Operations subindustry, AJR Infra & Tolling's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


AJR Infra & Tolling Cyclically Adjusted PS Ratio vs Construction Industry

For the Construction industry and Industrials sector, AJR Infra & Tolling's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where AJR Infra & Tolling's Cyclically Adjusted PS Ratio falls into.


BOM:532959
9GF Score
AJR Infra & Tolling Ltd BOM:532959
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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AJR Infra & Tolling Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS 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 PS Ratio.

AJR Infra & Tolling's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, AJR Infra & Tolling's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

AJR Infra & Tolling Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201312 1.881 91.425 3.443
201406 2.047 94.103 3.640
201409 0.000 96.780 0.000
201506 2.239 99.841 3.753
201509 1.894 101.753 3.115
201703 0.000 105.196 0.000
201803 0.000 109.786 0.000
201806 1.347 111.317 2.025
201809 1.185 115.142 1.722
201812 1.282 115.142 1.863
201903 0.268 118.202 0.379
201906 1.037 120.880 1.436
201909 1.008 123.175 1.370
201912 0.736 126.235 0.976
202003 0.304 124.705 0.408
202006 0.468 127.000 0.617
202009 0.504 130.118 0.648
202012 0.737 130.889 0.942
202103 0.722 131.771 0.917
202106 0.664 134.084 0.829
202109 0.663 135.847 0.817
202112 0.433 138.161 0.525
202203 0.018 138.822 0.022
202206 0.126 142.347 0.148
202209 0.128 144.661 0.148
202212 0.171 145.763 0.196
202303 0.541 146.865 0.616
202306 0.131 150.280 0.146
202309 0.143 151.492 0.158
202312 0.183 152.924 0.200
202403 0.194 153.035 0.212
202406 0.159 155.789 0.171
202409 0.209 157.882 0.222
202412 0.000 158.323 0.000
202503 0.000 157.552 0.000
202506 0.000 159.755 0.000
202509 0.000 162.289 0.000
202512 0.000 163.281 0.000
202603 0.000 164.272 0.000
202606 0.000 167.357 0.000

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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 AJR Infra & Tolling (BOM:532959) Overvalued in 2026?

Based on GuruFocus' analysis, AJR Infra & Tolling stock appears to be overvalued. The current stock price of ₹0.68 is trading 9.7% above its estimated GF Value™ of ₹0.62.

Key valuation signals for BOM:532959:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹0.62 vs. price of ₹0.68 (9.7% above fair value)
  • GF Score™: 9/100 with 1 warning sign

No single metric tells the full story. See the BOM:532959 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


AJR Infra & Tolling Business Description

Address Hamilton House, J.N. Heradia Marg, 3rd Floor, Plot No. 3/8, Bellard Estate, Mumbai, MH, IND, 400 038
AJR Infra & Tolling Ltd is an infrastructure project development company. The firm is engaged in the construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels, and subways. Its forays into the development of infrastructure projects on a PPP basis across sectors such as Roads & Expressways, Ports, Hydro Power, Urban infrastructure, Airports, Special Economic Zones, Water and Wastewater Management, Railways, Power Transmission lines and Agricultural Infrastructure. It constitutes two segments namely Real Estate Business and Infrastructure, out of which maximum revenue is derived from Infrastructure Segment. Geographically, it operates in India.
9GF Score

Get the complete analysis for BOM:532959

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

₹0.68
Price
₹0.62
GF Value