Indokem (NSE:INDOKEM) Cyclically Adjusted PS Ratio: (As of Aug. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:INDOKEM Indokem Ltd NSE:INDOKEM
41 GF Score
Price ₹590.40
GF Value ₹153.58
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Indokem Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Indokem  (NSE:INDOKEM) 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.


Indokem Cyclically Adjusted PS Ratio Related Terms


Indokem Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Indokem'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.

Indokem Cyclically Adjusted PS Ratio Chart

Indokem 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 1.32 2.53 2.14 3.81 9.17

Indokem 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 5.26 9.76 11.81 9.17 8.98

NSE:INDOKEM vs : Cyclically Adjusted PS Ratio Comparison

For the Specialty Chemicals subindustry, Indokem'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.


Indokem Cyclically Adjusted PS Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Indokem's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NSE:INDOKEM
41GF Score
Indokem Ltd NSE:INDOKEM
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Indokem 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.

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

For example, Indokem'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)
=16.56/333.9520*333.9520
=16.560

Current CPI (Jun. 2026) = 333.9520.

Indokem Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 7.339 241.428 10.152
201612 5.622 241.432 7.776
201703 8.193 243.801 11.223
201706 9.528 244.955 12.990
201709 6.951 246.819 9.405
201712 7.320 246.524 9.916
201803 8.772 249.554 11.739
201806 8.261 251.989 10.948
201809 8.404 252.439 11.118
201812 7.706 251.233 10.243
201903 8.628 254.202 11.335
201906 8.526 256.143 11.116
201909 9.358 256.759 12.171
201912 9.236 256.974 12.003
202003 8.775 258.115 11.353
202006 3.157 257.797 4.090
202009 8.162 260.280 10.472
202012 9.153 260.474 11.735
202103 10.698 264.877 13.488
202106 9.861 271.696 12.121
202109 10.282 274.310 12.518
202112 14.018 278.802 16.791
202203 12.424 287.504 14.431
202206 10.830 296.311 12.206
202209 13.547 296.808 15.242
202212 14.620 296.797 16.450
202303 16.484 301.836 18.238
202306 15.456 305.109 16.917
202309 14.488 307.789 15.720
202312 15.485 306.746 16.858
202403 14.159 312.332 15.139
202406 13.302 314.175 14.139
202409 15.523 315.301 16.441
202412 15.248 315.605 16.134
202503 19.429 319.799 20.289
202506 14.846 322.561 15.370
202509 14.744 324.800 15.159
202512 15.373 324.054 15.843
202603 16.900 330.213 17.091
202606 16.560 333.952 16.560

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 Indokem (NSE:INDOKEM) Overvalued in 2026?

Based on GuruFocus' analysis, Indokem stock appears to be overvalued. The current stock price of ₹590.40 is trading 284.4% above its estimated GF Value™ of ₹153.58. GuruFocus considers Indokem to be Significantly Overvalued.

Key valuation signals for NSE:INDOKEM:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹153.58 vs. price of ₹590.40 (284.4% above fair value)
  • GF Score™: 41/100 with 3 warning signs

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


Indokem Business Description

Comparable Companies
Other Exchanges 504092:India
Address Mogul Lane, Plot No. 410 / 411, Khatau House, Mahim (West), Mumbai, MH, IND, 400016
Indokem Ltd is an India-based company engaged in the business of dyes, auxiliaries, and sizing chemicals and auxiliaries used in the textile industry. It is also engaged in the manufacturing and marketing of resins and chemicals. The company operates in two segments: textile dyes and chemicals, and electrical capacitors. It generates the majority of its revenues from the sale of manufactured goods and traded goods.
41GF Score

Get the complete analysis for NSE:INDOKEM

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

₹590.40
Price
₹153.58
GF Value