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Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-09-20), the stock price of NTC Industries is ₹132.85. NTC Industries's graham number for the quarter that ended in Jun. 2026 was ₹N/A. Therefore, NTC Industries's Price to Graham Number ratio for today is N/A.
The historical rank and industry rank for NTC Industries's Graham Number or its related term are showing as below:
NSE:NTCIND'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.26 Med: 0.88 Max: 1.74
Current: 0.62
During the past 13 years, the highest Price to Graham Number ratio of NTC Industries was 1.74. The lowest was 0.26. And the median was 0.88.
NSE:NTCIND's Price-to-Graham-Number is ranked better than 81.48% of 27
companies
in the Tobacco Products industry
Industry Median: 1.31
vs NSE:NTCIND: 0.62
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
NTC Industries (NSE:NTCIND) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
NTC Industries's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Jun. 2026 )
=
132.85
/
N/A
=
N/A
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
NTC Industries Graham Number Related Terms
NTC Industries Graham Number Historical Data
* Premium members only.
The historical data trend for NTC Industries's Graham Number 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.
NSE:NTCIND vs PM, MO, TPB: Graham Number Comparison
For the Tobacco subindustry, NTC Industries's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, NTC Industries's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where NTC Industries's Price-to-Graham-Number falls into.
* 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 (NSE:NTCIND) has a Graham Number of ₹N/A as of Jun. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on NTC Industries and its competitors. According to the industry distribution chart, NTC Industries ranks #5 out of 27 companies in the Tobacco Products industry, placing it in the top 18.5%.
Is NTC Industries' Graham Number too high?
NTC Industries' current Graham Number is ₹N/A. Based on the distribution chart, NTC Industries ranks #5 out of 27 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. Overall, NTC Industries has a GF Score™ of 64/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does NTC Industries' Graham Number compare to PM and MO?
According to the Tobacco Products industry distribution chart, NTC Industries ranks #5 out of 27 companies for Graham Number. This places NTC Industries in the top 19% of its industry — outperforming the majority of peers. The industry median Graham Number is 1.31. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for a Tobacco Products company?
The median Graham Number among Tobacco Products companies is 1.31, based on 27 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on NTC Industries and its competitors. For the Tobacco Products industry, the median Graham Number is 1.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NTC Industries's current Graham Number is ₹N/A. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NTC Industries stock overvalued right now?
Based on GuruFocus' analysis, NTC Industries (NSE:NTCIND) is currently considered Possible Value Trap. The stock's GF Value™ is ₹261.30, compared to a current price of ₹132.85 — trading 49.2% below its estimated fair value. The current Graham Number is ₹N/A. NTC Industries' overall GF Score™ is 64/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Graham Number calculated?
Graham Number is calculated from a company's financial statements. For NTC Industries (NSE:NTCIND), the current Graham Number is ₹N/A as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
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 ₹261.30.
GuruFocus considers NTC Industries to be Possible Value Trap.
Key valuation signals for NSE:NTCIND:
Graham Number: ₹N/A
GF Value™: ₹261.30 vs. price of ₹132.85 (49.2% below fair value)
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 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.
64GF Score
Get the complete analysis for NSE:NTCIND
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