MarketFriction

Bank of Maharashtra

NSE MAHABANK · BSE 532525 · Public Sector Bank
₹80.50 +1.42%
NSE close2026-10-01
52 week range54.66 - 94.50
Market cap₹60,886 Cr.
P/E8.08
Nifty 200Nifty 500Nifty Midcap 100Midcap 150Nifty PSU Bank No price band Delivery 35.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue5,0685,1725,4675,8756,0176,3256,7317,0547,1287,3447,7558,035
Interest2,6362,7052,8823,0753,2103,3813,6143,7623,8803,9224,0524,264
Expenses2,1642,0762,3392,3492,2192,2692,5612,4142,2752,3482,3122,522
Financing Profit2683902464505886755568789731,0751,3911,248
Financing Margin %5%8%4%8%10%11%8%12%14%15%18%16%
Other Income6686801,0228947927889818258469339381,029
Depreciation000000000000
Profit before tax9361,0701,2681,3441,3801,4631,5371,7031,8192,0082,3302,277
Tax %2%3%4%4%4%4%3%6%10%11%14%11%
Net Profit9201,0381,2301,2951,3331,4121,5021,5041,6691,7992,0452,023
EPS in Rs1.301.471.741.831.881.841.951.962.172.342.662.63
Gross NPA %2.19%2.04%1.88%1.85%1.84%1.80%1.74%1.74%1.72%1.60%1.45%1.45%
Net NPA %0.23%0.22%0.20%0.20%0.20%0.20%0.18%0.18%0.18%0.15%0.13%0.13%
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue13,05312,06211,09610,85011,49611,86913,01915,89920,49524,94829,28230,262
Interest9,1748,8867,7067,1157,2166,9706,9748,15710,67213,28115,61616,119
Expenses4,3326,7098,0349,8255,3306,7887,2786,3148,5429,1079,0059,456
Financing Profit-453-3,533-4,643-6,090-1,050-1,889-1,2331,4281,2812,5604,6614,688
Financing Margin %-3%-29%-42%-56%-9%-16%-9%9%6%10%16%15%
Other Income1,0371,5251,5401,5681,6602,6492,6552,2833,0153,4763,5383,746
Depreciation1491181292412111882682622232913440
Profit before tax435-2,126-3,232-4,7633995711,1533,4484,0725,7457,8558,433
Tax %73%-36%-66%0%0%0%0%24%0%4%11%
Net Profit118-1,356-1,112-4,7633995711,1532,6054,0725,5427,0177,536
EPS in Rs1.01-11.61-4.28-17.300.680.871.713.875.757.219.129.80
Dividend Payout %0%0%0%0%0%0%29%34%24%21%13%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%20%23%16%
Compounded Profit Growth50%65%39%31%
Stock Price CAGR10%32%18%41%
Return on Equity10%20%23%23%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,0631,1681,1682,5982,7535,8246,5606,7306,7307,0817,6927,692
Reserves7,0607,6926,3017,4693,1305,0855,7487,3319,06012,78921,01625,533
Deposits125,915142,785139,040138,967140,636150,050173,989202,275234,064270,726307,120350,538
Borrowing7,3225,4238,1374,06410,1493,6704,2397,74710,7667,71923,85335,234
Other Liabilities4,7133,9614,7653,3518,0084,3886,2996,7007,2079,0139,6738,475
Total Liabilities146,073161,029159,411156,449164,676169,018196,835230,783267,827307,329369,354427,471
Fixed Assets1,4321,6951,5641,4871,7411,6041,6222,0362,1492,2002,9112,954
CWIP00223034725220581048
Investments32,81936,30238,67743,74259,83757,89168,28168,76269,04268,46582,216101,588
Other Assets111,822123,033119,148111,189103,064109,451126,880159,780196,628236,655284,222322,922
Total Assets146,073161,029159,411156,449164,676169,018196,835230,783267,827307,329369,354427,471
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-1,0832,9047,498-1,723-10,8426932,4476,896-1,44011,5817,628-11,336
Cash from Investing Activity-151-151-99-134-106-100-169-300-175-260-495-506
Cash from Financing Activity1,885-186-771,1004,2206982173782284614,750-2,607
Net Cash Flow6512,5677,322-758-6,7291,2922,4956,974-1,38711,78311,883-14,449
Free Cash Flow-1,2342,7537,399-1,858-10,9685842,2586,594-1,61711,3057,112-11,742
CFO/OP-12%38%140%-56%-1,058%11%48%120%-15%97%48%-56%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %6%1%-17%-13%-60%5%5%9%17%23%23%23%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters86.46%86.46%86.46%86.46%86.46%79.60%79.60%79.60%79.60%73.60%73.60%73.60%
FIIs0.59%0.45%1.04%1.20%1.26%1.54%1.72%1.89%2.35%4.92%5.55%5.82%
DIIs5.17%4.71%4.68%4.58%4.46%10.88%10.67%10.40%10.06%13.50%13.93%14.28%
Public7.76%8.37%7.80%7.75%7.81%7.99%8.00%8.11%8.00%7.97%6.93%6.32%
No. of Shareholders6,06,0466,77,0878,46,7469,19,6639,48,4329,95,54310,06,2659,91,9309,74,4849,52,7759,01,4108,75,943

Fundamentals

Market Cap₹ 60,886 Cr.
Current Price₹ 79.2
Stock P/E8.08
Book Value₹ 46.4
ROCE6.03 %
ROE22.6 %
Dividend Yield2.78 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)16%
Compounded Profit Growth (TTM)31%
Consolidated figures.
Valuation
Market capRs 61,917 Cr
Enterprise valueRs 421,044 Cr
P/E (TTM)8.22x
Price to book1.86x
Price to sales2.05x
EV / EBITDA16.91x
EV / EBIT17.15x
EV / sales13.91x
Earnings yield12.17%
Dividend yield1.49%
P/E, 3-year average8.00x
P/B, 3-year average1.63x
P/E, 5-year average8.03x
P/B, 5-year average1.35x
Profitability
Operating margin (excl. other income)69.25%
Operating margin (incl. other income)81.33%
EBITDA margin82.27%
Pre-tax margin27.87%
Net profit margin24.90%
Net margin, latest quarter25.18%
ROE22.66%
ROCE6.03%
ROA1.76%
ROE, 3-year average22.77%
ROCE, 3-year average5.70%
ROA, 3-year average1.60%
ROE, 5-year average18.90%
ROCE, 5-year average5.16%
ROA, 5-year average1.28%
ROIC (approx.)5.59%
Tax rate10.67%
Other income / net worth10.65%
Growth
Sales growth (latest year)17.37%
Profit growth (latest year)26.62%
Sales CAGR, 3 years22.58%
Sales CAGR, 5 years19.80%
Profit CAGR, 3 years39.14%
Profit CAGR, 5 years65.13%
Sales growth QoQ3.60%
Profit growth QoQ-1.05%
Sales growth YoY (latest quarter)13.90%
Profit growth YoY (latest quarter)34.50%
Per share
EPS (TTM)Rs 9.80
EPS (latest year)Rs 9.12
EPS (latest quarter)Rs 2.63
EPS, 3-year averageRs 7.36
EPS, 5-year averageRs 5.53
Book value per shareRs 43.20
Sales per shareRs 39.34
Cash flow per shareRs -14.74
Free cash flow per shareRs -15.27
Dividend per share (latest year)Rs 1.20
Dividend per share, 3-year averageRs 1.37
Dividend per share, 5-year averageRs 1.18
Dividends
Dividend payout13.15%
Dividend payout, 3-year average19.44%
Dividend payout, 5-year average24.22%
Efficiency
Asset turnover0.07x
Fixed asset turnover9.91x
Leverage
Total debtRs 385,772 Cr
Cash and bankRs 26,645 Cr
Net debtRs 359,127 Cr
Debt to equity11.61x
Net debt / EBITDA14.43x
Interest coverage1.52x
Owners' fund to total sources7.77%
Debt to assets90.25%
Cash flow
Cash from Operating Activity (latest year)Rs -11,336 Cr
Cash from Investing Activity (latest year)Rs -506 Cr
Cash from Financing Activity (latest year)Rs -2,607 Cr
Net Cash Flow (latest year)Rs -14,449 Cr
Free cash flow (latest year)Rs -11,742 Cr
FCFE (approx.: FCF + change in debt)Rs 43,057 Cr
Cash from ops / profit, 5 years0.65x
Statement figures
Net sales (TTM)Rs 30,262 Cr
Net sales (latest year)Rs 29,282 Cr
Sales (latest quarter)Rs 8,035 Cr
Operating profit excl. other income (latest year)Rs 20,277 Cr
Operating profit (latest quarter)Rs 5,513 Cr
Other income (TTM)Rs 3,746 Cr
EBITDA (TTM)Rs 24,896 Cr
PBDT (TTM)Rs 8,777 Cr
Profit before tax (TTM)Rs 8,433 Cr
Tax (latest year)Rs 839 Cr
Net profit (TTM)Rs 7,536 Cr
Net profit (latest year)Rs 7,017 Cr
Net profit (latest quarter)Rs 2,023 Cr
Depreciation (TTM)Rs 344 Cr
Interest (TTM)Rs 16,119 Cr
Cost of goods sold (latest year)Rs 423 Cr
Total expenditure (latest year)Rs 9,005 Cr
Total income (latest year)Rs 32,820 Cr
Share capitalRs 7,692 Cr
ReservesRs 25,533 Cr
Shareholders' fundsRs 33,225 Cr
Total assetsRs 427,471 Cr
Net blockRs 2,954 Cr
Capital work in progressRs 8 Cr
InvestmentsRs 101,588 Cr
Other liabilitiesRs 8,475 Cr
Shares outstanding (crore)769.16
Ownership
Promoter holding73.60% (-6.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 8.2 is at the 17th percentile of its own 6.4-year range (median 13.3, low 6.8, high 46.9).
P/B 1.86 is at the 69th percentile (median 1.59).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMAHABANKNifty 50Difference
1 week-2.3%-2.8% +0.5 pts
1 month-2.7%-6.8% +4.1 pts
3 months-9.1%-7.6% -1.5 pts
6 months+31.3%+0.4% +30.9 pts
1 year+45.5%-9.9% +55.4 pts
2 years+27.5%-13.6% +41.1 pts
3 years+68.9%+14.2% +54.8 pts
5 years+302.5%+27.9% +274.6 pts
155 mutual fund schemes hold about ₹3,888 Cr. Over three months 41 bought more and 51 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Mid Cap Fund2.09%1,488 -1%
Aditya Birla SL PSU Equity Fund4.41%268 -4%
Kotak Large & Mid Cap Fund0.76%246 -5%
Canara Rob Mid Cap Fund2.21%115 -18%
Aditya Birla SL Multi Asset Allocation Fund1.47%112 -9%
Mahindra Manulife Mid Cap Fund2.00%108 -7%
Kotak Aggressive Hybrid Fund1.14%105 +12%
Aditya Birla SL Banking & Financial Services Fund2.73%100 -4%
PGIM India Midcap Fund0.76%85 -3%
Kotak Contra Fund1.28%71 +8%
UTI Large & Mid Cap Fund0.98%64 -25%
Aditya Birla SL Midcap Fund0.81%57 -36%
Aditya Birla SL Midcap Fund0.81%55 -36%
DSP Banking & Financial Services Fund2.42%53 +32%
Bank of India Aggressive Hybrid Fund2.44%50 +27%
Aditya Birla SL Quant Fund2.22%45 +100%
Kotak Arbitrage Fund(M0.06%42 +100%
Aditya Birla SL Large & Mid Cap Fund0.63%38 -60%
JM Mid Cap Fund2.79%38 +2%
Baroda BNP Paribas Mid Cap Fund1.27%34 +70%
Bank of India Multi Cap Fund2.50%33 +8%
Aditya Birla SL Balanced Advantage Fund0.32%33 -12%
Kotak Banking & Financial Services Fund2.08%32 +1%
Aditya Birla SL Business Cycle Fund1.60%29 -7%
Aditya Birla SL Special Opp Fund2.21%28 -19%

Red flags

F-score 5 of 8
explainWeak cash conversion Cash from operations was 47% of net profit over the last 3 years
lookProfit leans on other income Other income was 45% of pre-tax profit in 2026
lookAuditor change Auditor change 2025-12-26: Bank of Maharashtra has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-12-03President of IndiaPromoterssell461,568,297Rs 461.57 CrMarket Sale
2020-08-25President of India (Government of Promotersother736,049,601Rs 831.00 CrPreferential Offer
2019-03-30President of IndiaPromotersother154,716,981Rs 205.00 CrPreferential Offer
2018-03-28president of India( Govt Of India)Promotersother1,218,509,984Rs 3173.00 CrOthers
2017-08-11Govt of IndiaPromotersother88,888,888Rs 300.00 CrInvocation of pledge
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Revenue ₹8,035 Cr +13.9% vs Jun 2025. Net profit ₹2,023 Cr +34.5%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
State Bank of India890,49210.66.13 %
Punjab National Bank128,4345.816.13 %
Union Bank of India126,7186.146.30 %
Bank of Baroda117,7425.335.63 %
Canara Bank108,4035.466.52 %
Indian Bank107,1178.386.32 %
Indian Overseas Bank59,59910.46.07 %
Bank of India59,2355.035.93 %
UCO Bank28,90410.35.55 %
Central Bank of India27,1905.965.64 %
Punjab & Sind Bank14,97910.85.95 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-06-05Dividend - Rs 1.20 Per Sh
2026-01-20Interim Dividend - Re 1 Per Share
2025-05-09Dividend - Rs 1.50 Per Share
2024-05-10Dividend - Rs 1.40 Per Share
2023-05-23Dividend - Rs 1.30 Per Share
2022-06-20Annual General Meeting/Dividend - Rs 0.50 Per Share
2021-06-16 Annual General Meeting
2020-08-03 Annual General Meeting
2019-06-19 Annual General Meeting
2018-06-13 Annual General Meeting
2017-06-08 Annual General Meeting
2016-06-21 Annual General Meeting
2015-06-19Annual General Meeting/ Dividend - Re 0.80/- Per Share
2014-05-29Annual General Meeting
2014-02-06Interim Dividend - Re 1/- Per Share (Purpose Revised)
2013-05-30Annual General Meeting And Dividend - Rs. 2.30 Per Share
2012-06-14Annual General Meeting And Dividend - Rs. 2.20 Per Share
2011-06-16Dividend-Rs.2/- Per Share
2010-06-30Dividend-Rs.2/- Per Share
2009-07-02Agm/Div-Rs.1.50 Per Share
2008-05-29Agm/Dividend - 20%
2008-01-03Egm-Election Of Directors
2007-05-30Agm/Dividend - 20%
2006-06-15Dividend-4%
DateTypeWhat it says
2026-10-01Change in ManagementChange in Senior Management
2026-09-30CessationSuperannuation of Mr Amit Srivastava as Chief Vigilance Officer of the Bank w.e.f. September 30, 2026.
2026-09-29General UpdatesReview of MCLR Rate
2026-09-24General UpdatesOutcome of Analyst/Investor Meet
2026-09-23General UpdatesProposed Bank Strike
2026-09-17General UpdatesIntimation of Pricing of the Notes under the MTN Programme
2026-09-11AppointmentAppointment of Mr Saurabh Kumar as GOI Nominee Director on the Board of the Bank w.e.f. September 10, 2026.
2026-09-09General UpdatesProposed Bank Strike
2026-09-07Investor PresentationInvestor Presentation
2026-09-05General UpdatesEstablishment of Euro Medium term Note Programme of USD 500 million
2026-09-03Concall / analyst meetSchedule of meet
2026-09-01General UpdatesRevision in MCLR rates
2026-08-13AppointmentAppointment of Mr Naresh Kumar Vashisht as Part-time Non-Official Director on the Board of the Bank w.e.f. August 12, 2026.
2026-07-24General UpdatesRevision in MCLR Rates
2026-07-24ResignationChange in management.
2026-07-24ResignationResignation of Director/KMP/SMP
2026-07-16Concall / analyst meetTranscript
2026-07-10Concall / analyst meetOutcome
2026-07-10Press ReleaseA press release dated July 10, 2026, titled "Press release on the financial results of the Bank for the Quarter ended 30.06.2026".
2026-07-10Concall / analyst meetPresentation
2026-07-10Investor PresentationInvestor Presentation
2026-07-10Board meeting outcomeBank of Maharashtra has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-07Concall / analyst meetSchedule of meet
2026-07-06General UpdatesDisclosure of Provisional Business Figures as on 30.06.2026
2026-06-30Shareholder meetingProceedings of Annual General Meeting held on Jun 30, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with vo...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.58
Max pain (expiry 2026-10-27)81
Largest call open interest at85
Largest put open interest at80
Implied volatility, at the money37.0%
Underlying at snapshot80.50
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30688
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-08-18NCLTBank of Maharashtra Vs M/s. Grid India Power Cables Pvt. Ltd.
2021-08-05NCLTBank of Maharashtra Vs M/s. Newtech Promoters and Developers Pvt. Ltd.
2021-07-14NCLTBank of Maharashtra Vs M/s. Grid India Power Cables Pvt. Ltd.
2021-07-13NCLTBank of Maharashtra Vs M/s Hindustan Fibres Ltd.
2021-07-05NCLTBank of Maharashtra Vs M/s. Newtech Promoters and Developers Pvt. Ltd.
2021-03-30NCLTBank of Maharashtra Vs SVSVS Projects Pvt Ltd Vs
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Bank of Maharashtra?

Bank of Maharashtra (MAHABANK) has a market capitalisation of Rs 60,886 Cr. at the 2026-10-01 close.

What is the P/E ratio of Bank of Maharashtra?

Bank of Maharashtra trades at a P/E of 8.08 on trailing twelve-month profit, at the 2026-10-01 close.

What were Bank of Maharashtra's latest quarterly results?

In the Jun 2026 quarter, Bank of Maharashtra revenue was Rs 8,035 Cr (+13.9% vs Jun 2025) and net profit was Rs 2,023 Cr.

What is the 52-week high and low of Bank of Maharashtra?

The 52-week high is Rs 94.50 and the 52-week low is Rs 54.66.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03