Emami (NSE:EMAMILTD) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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:EMAMILTD Emami Ltd NSE:EMAMILTD
91 GF Score
Price ₹368.45
GF Value ₹608.19
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is Emami Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Emami  (NSE:EMAMILTD) 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.


Emami Cyclically Adjusted PS Ratio Related Terms


Emami Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Emami'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.

Emami Cyclically Adjusted PS Ratio Chart

Emami 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 6.70 4.96 5.56 7.17 4.65

Emami 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 6.83 6.35 6.21 4.60 4.64

NSE:EMAMILTD vs PG, CL, EL: Cyclically Adjusted PS Ratio Comparison

For the Household & Personal Products subindustry, Emami'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.


Emami Cyclically Adjusted PS Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Emami's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Emami's Cyclically Adjusted PS Ratio falls into.


NSE:EMAMILTD
91GF Score
Emami Ltd NSE:EMAMILTD
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Emami 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.

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

For example, Emami'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)
=23.808/167.3573*167.3573
=23.808

Current CPI (Jun. 2026) = 167.3573.

Emami Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 12.619 105.961 19.931
201612 15.724 105.196 25.015
201703 12.559 105.196 19.980
201706 11.651 107.109 18.205
201709 13.833 109.021 21.235
201712 16.672 109.404 25.503
201803 13.592 109.786 20.720
201806 13.536 111.317 20.351
201809 13.836 115.142 20.110
201812 17.869 115.142 25.972
201903 14.107 118.202 19.973
201906 14.289 120.880 19.783
201909 14.541 123.175 19.757
201912 17.902 126.235 23.734
202003 11.754 124.705 15.774
202006 10.696 127.000 14.095
202009 16.506 130.118 21.230
202012 21.004 130.889 26.856
202103 16.440 131.771 20.880
202106 14.870 134.084 18.560
202109 17.707 135.847 21.814
202112 21.845 138.161 26.461
202203 17.413 138.822 20.992
202206 17.527 142.347 20.606
202209 18.446 144.661 21.340
202212 22.276 145.763 25.576
202303 18.949 146.865 21.593
202306 18.765 150.280 20.897
202309 19.814 151.492 21.889
202312 22.825 152.924 24.979
202403 20.418 153.035 22.329
202406 20.758 155.789 22.299
202409 20.403 157.882 21.627
202412 24.043 158.323 25.415
202503 22.063 157.552 23.436
202506 20.712 159.755 21.698
202509 18.293 162.289 18.864
202512 26.387 163.281 27.046
202603 21.194 164.272 21.592
202606 23.808 167.357 23.808

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 Emami (NSE:EMAMILTD) Overvalued in 2026?

Based on GuruFocus' analysis, Emami stock appears to be undervalued. The current stock price of ₹368.45 is trading 39.4% below its estimated GF Value™ of ₹608.19. GuruFocus considers Emami to be Significantly Undervalued.

Key valuation signals for NSE:EMAMILTD:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹608.19 vs. price of ₹368.45 (39.4% below fair value)
  • GF Score™: 91/100 with 1 warning sign

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


Emami Business Description

Other Exchanges 531162:India
Address Emami Tower, 687, EM Bypass, Anandapur, Kolkata, WB, IND, 700107
Emami Ltd is a fast-moving consumer goods company engaged in the manufacturing and marketing of personal care & healthcare products.. The company's portfolio includes trusted power brands like Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus, and Kesh King. Geographically, the company generates the majority of its revenue from India.
91GF Score

Get the complete analysis for NSE:EMAMILTD

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

₹368.45
Price
₹608.19
GF Value