Minal Industries (NSE:MINALIND) Cyclically Adjusted PS 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:MINALIND Minal Industries Ltd NSE:MINALIND
54 GF Score
Price ₹2.65
GF Value ₹4.06
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Minal Industries 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


Minal Industries  (NSE:MINALIND) 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.


Minal Industries Cyclically Adjusted PS Ratio Related Terms


Minal Industries Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Minal Industries'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.

Minal Industries Cyclically Adjusted PS Ratio Chart

Minal Industries 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 0.04 0.39 2.67 1.80 0.89

Minal Industries Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.80 2.26 1.70 1.36 0.89

NSE:MINALIND vs : Cyclically Adjusted PS Ratio Comparison

For the Luxury Goods subindustry, Minal Industries'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.


Minal Industries Cyclically Adjusted PS Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Minal Industries's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NSE:MINALIND
54GF Score
Minal Industries Ltd NSE:MINALIND
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Minal Industries 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.

Minal Industries's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Minal Industries's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.791/330.2130*330.2130
=0.791

Current CPI (Mar. 2026) = 330.2130.

Minal Industries Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201509 0.000 237.945 0.000
201512 0.000 236.525 0.000
201603 0.000 238.132 0.000
201606 0.000 241.018 0.000
201609 0.000 241.428 0.000
201612 0.000 241.432 0.000
201703 0.000 243.801 0.000
201803 0.000 249.554 0.000
201806 0.312 251.989 0.409
201809 0.390 252.439 0.510
201812 1.188 251.233 1.561
201903 0.927 254.202 1.204
201906 0.476 256.143 0.614
201909 0.332 256.759 0.427
201912 0.416 256.974 0.535
202003 0.780 258.115 0.998
202006 0.013 257.797 0.017
202009 0.097 260.280 0.123
202012 0.438 260.474 0.555
202103 0.181 264.877 0.226
202106 0.249 271.696 0.303
202109 0.151 274.310 0.182
202112 0.626 278.802 0.741
202203 0.446 287.504 0.512
202206 0.180 296.311 0.201
202209 0.275 296.808 0.306
202212 0.332 296.797 0.369
202303 0.610 301.836 0.667
202306 0.302 305.109 0.327
202309 0.247 307.789 0.265
202312 0.772 306.746 0.831
202403 0.652 312.332 0.689
202406 0.669 314.175 0.703
202409 0.561 315.301 0.588
202412 0.462 315.605 0.483
202503 0.999 319.799 1.032
202506 0.523 322.561 0.535
202509 0.464 324.800 0.472
202512 0.449 324.054 0.458
202603 0.791 330.213 0.791

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 Minal Industries (NSE:MINALIND) Overvalued in 2026?

Based on GuruFocus' analysis, Minal Industries stock appears to be undervalued. The current stock price of ₹2.65 is trading 34.7% below its estimated GF Value™ of ₹4.06. GuruFocus considers Minal Industries to be Significantly Undervalued.

Key valuation signals for NSE:MINALIND:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹4.06 vs. price of ₹2.65 (34.7% below fair value)
  • GF Score™: 54/100 with 3 warning signs

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


Minal Industries Business Description

Comparable Companies
Other Exchanges 522235:India
Address Off Sakivihar Road, 603- l Minal Co-Op Hsg So Ltd, Andheri (East), Mumbai, MH, IND, 400072
Minal Industries Ltd is a diamantaire, jewelry, and engineering company. The company is engaged in the business of manufacturing and selling gold jewelry, diamond-studded jewelry, and silver articles. Geographically, it derives a majority of its revenue from India. The company has one reportable segment, which is Manufacturing and Trading of Gems and Jewelry.
54GF Score

Get the complete analysis for NSE:MINALIND

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

₹2.65
Price
₹4.06
GF Value