NTC Industries (NSE:NTCIND) Cyclically Adjusted PS Ratio: (As of Sep. 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:NTCIND NTC Industries Ltd NSE:NTCIND
63 GF Score
Price ₹132.85
GF Value ₹261.43
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is NTC 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


NTC Industries  (NSE:NTCIND) 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.


NTC Industries Cyclically Adjusted PS Ratio Related Terms


NTC Industries Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for NTC 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.

NTC Industries Cyclically Adjusted PS Ratio Chart

NTC 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 - - - - -

NTC Industries 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 - - - - -

NSE:NTCIND vs PM, MO, TPB: Cyclically Adjusted PS Ratio Comparison

For the Tobacco subindustry, NTC 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.


NTC Industries Cyclically Adjusted PS Ratio vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, NTC Industries's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NSE:NTCIND
63GF Score
NTC Industries Ltd NSE:NTCIND
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NTC 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.

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

For example, NTC Industries'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)
=17.378/333.9520*333.9520
=17.378

Current CPI (Jun. 2026) = 333.9520.

NTC Industries Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201409 6.180 238.031 8.670
201503 236.119 0.000
201506 4.197 238.638 5.873
201509 3.575 237.945 5.017
201512 3.971 236.525 5.607
201603 4.645 238.132 6.514
201606 6.575 241.018 9.110
201609 4.760 241.428 6.584
201612 2.835 241.432 3.921
201703 6.823 243.801 9.346
201803 249.554 0.000
201906 3.843 256.143 5.010
201909 5.213 256.759 6.780
201912 4.755 256.974 6.179
202003 5.977 258.115 7.733
202006 3.996 257.797 5.176
202009 6.989 260.280 8.967
202012 7.436 260.474 9.534
202103 8.327 264.877 10.499
202106 4.917 271.696 6.044
202109 7.702 274.310 9.377
202112 7.050 278.802 8.445
202203 14.486 287.504 16.826
202206 10.343 296.311 11.657
202209 14.840 296.808 16.697
202212 7.610 296.797 8.563
202303 8.585 301.836 9.498
202306 10.165 305.109 11.126
202309 8.390 307.789 9.103
202312 6.848 306.746 7.455
202403 10.559 312.332 11.290
202406 6.392 314.175 6.794
202409 12.905 315.301 13.668
202412 9.859 315.605 10.432
202503 16.478 319.799 17.207
202506 19.631 322.561 20.324
202509 18.341 324.800 18.858
202512 18.403 324.054 18.965
202603 21.725 330.213 21.971
202606 17.378 333.952 17.378

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 NTC Industries (NSE:NTCIND) Overvalued in 2026?

Based on GuruFocus' analysis, NTC Industries stock appears to be undervalued. The current stock price of ₹132.85 is trading 49.2% below its estimated GF Value™ of ₹261.43. GuruFocus considers NTC Industries to be Possible Value Trap.

Key valuation signals for NSE:NTCIND:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹261.43 vs. price of ₹132.85 (49.2% below fair value)
  • GF Score™: 63/100 with 7 warning signs

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


NTC Industries Business Description

Other Exchanges 526723:India
Address 149, B.T. Road, P.O. Kamarhati, Kolkata, WB, IND, 700058
NTC Industries Ltd engages in the manufacture of cigarettes and tobacco products. It offers filters, mentholated cigarettes, smoking mixtures, and pipe tobacco. Its products are marketed under the following brands: Royal king Golden king-size, DOS NTC, Elpatron, MayPole, and Jaipur. The company has a presence in southern America, African, and Middle Eastern countries. The company generates revenue from rental income, the sale of cylinder, and FMCG - Cigarettes, where the majority is being generated from the sale of Cigarettes. Geographically the company generates the majority of its revenue from India.
63GF Score

Get the complete analysis for NSE:NTCIND

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

₹132.85
Price
₹261.43
GF Value