Bank Of Maharashtra (MAHABANK)

Loading page…

Bank Of Maharashtra (MAHABANK) · mywealthgrid

About

Bank of Maharashtra is a public-sector bank in India's banking sector with ₹61.6k crore market cap. It generates stable net profit of ₹1.6–2.0k crore per quarter and trades at a PE of 8.08, positioning it as a mid-sized lender.

Founded: 1935
Face value: ₹10

Market cap

₹61,917 Cr

P/E

8.1×

P/B

1.9×

Dividend yield

2.7%

ROE

22.6%

ROCE

Debt / equity

1.06

OPM

68.1%

EPS (TTM)

₹9.9

Book value

₹43.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

EPS fell from ₹2.63 to ₹2.12 (23% decline) over four quarters despite stable net profit — verify whether capital raises or share issuance caused dilution.

Debt-to-equity ratio of 1.06 is moderate for banking; verify trend and capital adequacy ratios to assess stress-test coverage against credit-cycle shocks.

Operating margin of 68% is unusually high for banking — verify whether this reflects one-time provision releases, reserve write-backs, or a calculation difference.

No NPA or asset-quality data provided — verify non-performing asset ratios, provisioning coverage, and slippage rates against regulatory requirements.

Generated analysis · source review pending

Growth drivers

Quarterly net profit averaging ₹1.8k Cr with recent uptick to ₹2.0k Cr — verify whether this reflects sustained credit growth or one-time items.

ROE of 22.65% shows efficient capital deployment — verify if management can sustain this through loan growth, deposit expansion, or improved credit costs.

PE of 8.08 is discounted to many Indian bank peers — verify whether this reflects undervaluation or prices in structural headwinds from competition or asset quality.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹80.5+1.7%1Y

Quick read

rule-based

Pros

+Strong return on equity of 22.8% (3-yr avg)
+Healthy operating margin of 68.1%
+Profit CAGR of 64% over the last 5 years
+Revenue CAGR of 19.8% over the last 5 years
+Dividend yield of 2.7%
+High promoter holding of 73.6% with no pledge

Cons

−Weak interest coverage of 1.5×
−Promoter holding fell 6 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

77/100

Business quality: 45
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11,496	11,869	13,019	15,899	20,495	24,948	29,282
Interest	7,216	6,970	6,974	8,157	10,672	13,281	15,616
Expenses	6,189	6,292	6,742	6,577	8,461	9,398	9,348
Financing profit	-1,910	-1,394	-697	1,165	1,362	2,269	4,317
Financing margin %	-16.6%	-11.8%	-5.4%	7.3%	6.7%	9.1%	14.7%
Other income	1,650	2,627	2,653	2,281	2,999	3,455	3,542
Depreciation	—	—	—	—	—	—	—
Profit before tax	-250	1,253	1,958	3,446	4,377	5,745	7,855
Tax	-649	681	804	843	305	203	839
Tax %	-259.6%	54.4%	41.1%	24.5%	7%	3.5%	10.7%
PAT	399	571	1,153	2,603	4,072	5,542	7,017
EPS (₹)	0.7	0.9	1.7	3.9	5.8	7.5	9.1
EPS adjusted (₹)	—	0.9	1.7	3.9	5.8	7.2	9.1
	0%	0%	28.9%	33.6%	24.1%	20.1%	24.1%
Gross NPA %	12.8%	7.2%	3.9%	2.5%	1.9%	1.7%	1.5%
Net NPA %	4.8%	2.5%	1%	0.3%	0.2%	0.2%	0.1%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	6,560	6,731	6,731	7,081	7,692	7,692
Reserves	5,748	7,668	9,060	12,789	21,016	25,533
Deposits	1,73,989	2,02,275	2,34,064	2,70,726	3,07,120	3,50,538
Borrowings	4,239	7,747	10,766	7,719	23,853	35,234
Other liabilities	6,299	6,363	7,207	9,013	9,673	8,475
Total equity & liabilities	1,96,835	2,30,783	2,67,827	3,07,329	3,69,354	4,27,471
Fixed assets	1,674	2,242	2,157	2,210	2,916	2,962
Investments	68,281	68,762	69,042	68,465	82,216	1,01,588
	1,26,880	1,59,780	1,96,628	2,36,655	2,84,222	3,22,922
Total assets	1,96,835	2,30,783	2,67,827	3,07,329	3,69,354	4,27,471

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	6,896	-1,440	11,581	7,628	-11,336
	-300	-175	-260	-495	-506
	378	228	461	4,750	-2,607
Net cash flow	6,974	-1,387	11,783	11,883	-14,449
Free cash flow	6,587	-1,764	11,302	7,108	-11,758
CFO / Operating profit %	109.9%	-15.5%	96.2%	49.1%	-56.9%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Retail Banking Operations	14,552.99	3,164.95	1,50,320.71	1,34,191.9	16,128.81	19.62
Corporate / Wholesale Banking Operations	11,085.68	3,094.47

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
PAT margin %	3.5%	4.8%	8.9%	16.4%	19.9%	22.2%	24%
Return ratios
Return on assets %	—	0.3%	0.5%	1%	1.3%	1.5%	1.6%
Return on capital employed %	—	4.3%	4.3%	4.8%	5.4%	5.8%	6%
Return on equity %	—	4.6%	8%	16.5%	20.5%	19.3%	21.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Margin, working-capital and leverage ratios are omitted: a bank funds itself with deposits and books interest as its cost of revenue, so they would measure something other than what they name.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	86.46%	86.46%	86.46%	86.46%	86.46%	79.6%	79.6%	79.6%	79.6%	73.6%	73.6%	73.6%
	0.59%	0.45%	1.04%	1.2%	1.26%	1.53%	1.73%	1.89%	2.34%	4.93%	5.55%	5.81%
	5.18%	4.72%	4.68%	4.58%	4.47%	10.87%	10.67%	10.4%	10.05%	13.5%	13.92%	14.27%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	7.77%	8.37%	7.82%	7.76%	7.81%	8%	8%	8.11%	8.01%	7.97%	6.93%	6.32%
No. of shareholders	—	—	—	—	—	—	—	—	9,74,484	9,52,775	9,01,410	8,75,943

Promoter holding down 12.86 percentage points since Sep 2023.

2 deals · 3 Jul 2025 – 3 Jul 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
3 Jul 2025	CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED	Block	BSE	Sell	24,75,399	₹56.66	₹14.03 Cr
3 Jul 2025	BNP PARIBAS FINANCIAL MARKETS	Block	BSE	Buy	24,75,399	₹56.66	₹14.03 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Nidhu SaxenaExecutive Director-Chairperson-CEO-MD
Mr. Subhasish RoyChief Risk Officer
Mr. Prabhat KiranExecutive Director
Mr. Sushanta Kumar MohantyExecutive Director
Mr. Abhijit PhukonNon-Executive - Nominee Director
Mr. Sanjeev PrakashNon-Executive - Nominee Director
Mr. Praveen KumarNon-Executive - Independent Director
Mr. Prasenjeet Shrikrishna FadnavisNon-Executive - Independent Director
Mr. Sunil DhootDeputy General Manager & Chief Financial Officer
Mr. Vishal SethiaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹79.4 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹80.3	+0.5	+0.6%	₹80.3	5,401	+198	1,509	6500
23 Nov 2026	₹80.6	+0.7	+0.8%	₹80.6	99	+5	60	6500
29 Dec 2026	₹80.3	0	0%	₹80.6	0	0	0	6500

Open the chart icon on a row for that contract's close over 25 stored sessions, with open interest as bars beneath it.

32

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
5	0	0	₹13.0	67

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 15 fund houses

Held by these funds

4.59%

of the company's equity

All mutual funds

6.76%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

91 schemes · 15 fund houses

		Shares
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	18.13 Cr	1,487.93	2.09%	2.357%	—
Portfolio of Kotak Large & Mid Cap FundNEW	Kotak Mahindra Mutual Fund	3 Cr	246.21	0.76%	0.39%	—
ETF NIFTY PSU BANK BEES	Nippon India Mutual Fund	2.24 Cr	184.15	4.56%	0.292%	-4.36 L
Portfolio of Kotak Nifty PSU Bank ETF	Kotak Mahindra Mutual Fund	1.51 Cr	123.73	4.56%	0.196%	+11.74 L
Portfolio of Kotak Aggressive Hybrid Fund	Kotak Mahindra Mutual Fund	1.3 Cr	106.69	1.14%	0.169%	-0
Portfolio of Kotak Contra Fund	Kotak Mahindra Mutual Fund	86.12 L	70.68	1.28%	0.112%	+20 L
NIFTY PSU BANK ETF	DSP Mutual Fund	77.24 L	63.39	4.56%	0.1%	+10.84 L
Banking & Financial Services Fund	DSP Mutual Fund	64.32 L	52.78	2.42%	0.084%	+19.95 L

1–8 of 91

1 / 12

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

33 announcementsExport CSV

1 Oct 2026, 11:00 amCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

Loading announcements…

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
PAT margin %	3.5%	4.8%	8.9%	16.4%	19.9%	22.2%	24%
Return ratios
Return on assets %	—	0.3%	0.5%	1%	1.3%	1.5%	1.6%
Return on capital employed %	—	4.3%	4.3%	4.8%	5.4%	5.8%	6%
Return on equity %	—	4.6%	8%	16.5%	20.5%	19.3%	21.1%

Calls	Strike	Puts
5	0	0	₹13.0	67

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Union Bank Of IndiaUNIONBANKUNIONBANK	₹1,27,932 Cr	₹2,05,729 Cr	₹1,07,587 Cr	₹73,406 Cr	68.7%	₹21,275 Cr	18.2%	6.3%	16.2%	—
Punjab National BankPNBPNB	₹1,25,928 Cr	₹2,33,486 Cr	₹1,31,789 Cr	₹98,411 Cr	74.7%	₹23,619 Cr	14.1%	6.1%	14%	—
Bank Of BarodaBANKBARODABANKBARODA	₹1,19,366 Cr	₹2,89,663 Cr	₹1,36,546 Cr	₹87,324 Cr	64.3%	₹18,478 Cr	14.5%	5.6%	12.5%	—
Canara BankCANBKCANBK	₹1,07,361 Cr	₹2,62,648 Cr	₹1,27,805 Cr	₹91,291 Cr	69.7%	₹20,708 Cr	15.6%	6.5%	16.7%	—
Indian BankINDIANBINDIANB	₹1,06,837 Cr	₹1,53,644 Cr	₹69,314 Cr	₹46,956 Cr	69.4%	₹13,030 Cr	17.3%	6.3%	15.8%	—
Bank Of MaharashtraMAHABANKMAHABANK	₹61,917 Cr	₹97,151 Cr	₹30,262 Cr	₹20,806 Cr	68.1%	₹7,624 Cr	24%	6%	22.6%	—
Bank Of IndiaBANKINDIABANKINDIA	₹58,948 Cr	₹1,77,574 Cr	₹77,244 Cr	₹55,814 Cr	72.3%	₹12,098 Cr	13.6%	5.9%	12.3%	—
Indian Overseas BankIOBIOB	₹58,502 Cr	₹1,10,104 Cr	₹33,290 Cr	₹20,072 Cr	64.5%	₹6,159 Cr	17%	6.1%	16.3%	—
Uco BankUCOBANKUCOBANK	₹28,753 Cr	₹57,441 Cr	₹25,067 Cr	₹14,864 Cr	59.3%	₹2,491 Cr	9.9%	5.8%	8.6%	—
Central Bank Of IndiaCENTRALBKCENTRALBK	₹27,154 Cr	₹59,008 Cr	₹37,270 Cr	₹23,376 Cr	62.2%	₹4,584 Cr	12.5%	5.6%	12%	—
Punjab & Sind BankPSBPSB	₹14,872 Cr	₹31,225 Cr	₹12,284 Cr	₹8,574 Cr	69.5%	₹1,384 Cr	11%	5.9%	9.6%	—

Date	Category	Subject	Filing
1 Oct 2026, 11:00 am	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
30 Sept 2026, 6:52 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
29 Sept 2026, 9:03 pm	Corp. Action Interest Rates Updates	Announcement under Regulation 30 (LODR)-Interest Rates Updates	PDF
21 Sept 2026, 9:55 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
18 Sept 2026, 2:14 pm	Others Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD	PDF
17 Sept 2026, 10:31 pm	Company Update General	Intimation Of Pricing Of The Notes Under The MTN Programme	PDF
11 Sept 2026, 6:25 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
9 Sept 2026, 6:52 pm	Company Update Strikes /Lockouts / Disturbances	Announcement under Regulation 30 (LODR)-Strikes /Lockouts / Disturbances	PDF

Bank Of Maharashtra

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

32

Fund holders

Documents

Announcements

Events

Announcements

3

32

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

14

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Capital & Reserve & Surplus · revenue

Bank Of Maharashtra

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain32

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain32

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends14

Board meetings1

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Capital & Reserve & Surplus · revenue

3

32

3

32

14

1