VALARTH See Bank of Maharashtra in the appOpen in app
MAHABANK · NSE · Public Sector Bank

Bank of Maharashtra

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Financial Services
dear low confidence No valuation within 120 days; P/E 8.5 vs peers 6.4 (7th of 10); P/B 1.5 vs peers 0.94 (8th of 10).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is Bank of Maharashtra's share price today?

Bank of Maharashtra last traded at ₹83.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.2% on the day, up 44.4% over a year. Its 52-week range is ₹55 to ₹94. The live price is in the app.

₹83.00 −0.2% today
+44.4% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range71% of the way up
Low ₹55High ₹94

What is Bank of Maharashtra's market cap?

Bank of Maharashtra's market capitalisation is about ₹63,963 crore: what it would cost to buy every share at today's price. That makes it the 65th largest mid cap company we cover.

₹63,963 Cr Mid Cap65th largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: MAHABANK
ISIN
INE457A01014
Cap bucket
Mid Cap, 65th largest by market cap
Industry (NSE)
Financial Services › Banks › Public Sector Bank
Listed since
2004
Futures and options
Traded

Is Bank of Maharashtra overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 8.5 vs peers 6.4 (7th of 10); P/B 1.5 vs peers 0.94 (8th of 10).

Valuation

Latest price and trailing 12 months
P/E 8.49
vs peers 6.4 · 7th of 10
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 1.51
vs peers 0.9 · 8th of 10
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹63,963 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 2.0%
vs peers 3.4% · 8th of 8
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 3.91
vs peers 1.6 · 6th of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 0.26
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is Bank of Maharashtra a quality business?

Quality score 81.5, 1st of 10 in its peer set; WATCH on 21 of 22 lender flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 81.5
vs peers 44.4 · 1st of 10
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
21 of 22 lender flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Lender scorecard

Statements through FY2026 (Mar-26)
Basis: standalone accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is interest earned less expended over average advances and investments; cost to income is operating expenses over net interest income plus other income; credit cost is FY2026 provisions over average advances; ROA over average total assets; ROE over average equity; GNPA, NNPA, provision coverage, CET1 from the Jun-26 quarter filing
Net interest margin 3.9%
vs peers 2.8% · 1st of 10
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA 1.4%
vs peers 2.0% · 2nd of 10
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA 0.1%
vs peers 0.4% · 1st of 10
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage 90.9%
How much of the gross bad loans has already been provided for. Learn more →
Credit cost 1.1%
vs peers 0.6% · 9th of 10
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income 37.1%
vs peers 49.1% · 1st of 10
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets 1.8%
vs peers 1.1% · 1st of 10
Profit as a share of average total assets. Learn more →
CET1 ratio 15.6%
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY 22.0%
vs peers 16.5% · 2nd of 10
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY 14.1%
vs peers 12.0% · 2nd of 10
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio Not available
Current and savings account balances as a share of all deposits. Learn more →
Inside the app

Get a sneak peek of Valarth

Start freeStart free
A Valarth stock page: the share price with its chart and 52-week range, valuation and profitability figures, and a scorecard of health checks.
Stock pagePrice, valuation, profitability and a scorecard of health checks for every company, each figure explained.
The Valarth stock screener: a table of companies with price, market cap, P/E, P/B, PEG, EPS and ROE, and filters down the left.
ScreenerEvery listed company, filtered on 212 figures, each with a plain-language lesson beside it.
The Valarth AI Screener answering 'Which companies will benefit from India's Project 75 submarine programme?' with a basket of four naval shipbuilders and a written thesis.
AI ScreenerAsk a question in plain English, like which companies benefit from India's Project 75. It reads the intent, builds the screen and writes the thesis.
A Valarth business-model card for State Bank of India, with a plain-language summary and statements verified against the filing.
Business modelHow a company makes money and what can hurt it, each statement checked against its annual report.
Valarth's Before the Bell edition, with the day's headline, regulator notes and sector moves.
Before the BellA morning edition before the market opens: what moved, which rule changed, and what it means for your holdings.

Has Bank of Maharashtra made money for shareholders?

Yes: +44.4% over one year and +31.7% a year over five years.

Shareholder returns

1-year return +44.4%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +31.7% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
+2.8%
1M
+4.5%
3M
+0.7%
6M
+18.6%
1Y
+44.4%
3Y
+23.9%
5Y
+31.7%

Does Bank of Maharashtra pay a dividend?

Yes. Bank of Maharashtra's dividend yield is 1.96% at the latest price; the last payout was ₹1.20 a share, ex-dividend 5 Jun 2026.

Dividends

Per share, by ex-dividend date
Dividend yield1.96%
The past 12 months' dividends as a share of today's price.
5 Jun 2026 · Final₹1.20
20 Jan 2026 · Interim₹1.00
9 May 2025 · Final₹1.50
10 May 2024 · Final₹1.40
23 May 2023 · Final₹1.30
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is Bank of Maharashtra growing?

Loan growth 22.0%; deposit growth 14.1%; revenue 3 years 21.8% a year.

Growth

Statements through FY2026 (Mar-26)
Loan growth 22.0%
vs peers 16.5% · 2nd of 10
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth 14.1%
vs peers 12.0% · 2nd of 10
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years 21.8% a year
vs peers 13.8% · 1st of 10
Compound annual growth of revenue over three years. Learn more →
EPS 3 years 33.1% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years 16.8% a year
Compound annual growth of revenue over five years. Learn more →
EPS 5 years 58.1% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →

How did Bank of Maharashtra do last quarter?

Bank of Maharashtra reported income of ₹9,064 Cr, up 15.5% on a year earlier and a net profit of ₹2,023 Cr, up 26.6% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Income, latest quarter₹9,064 Cr
+15.5% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹2,023 Cr
+26.6% on a year earlier
What was left for shareholders after every cost and tax.

How does Bank of Maharashtra compare with its peers?

Compared with 9 Public Sector Bank; 7th of 10 on P/E; 1st of 10 on quality score.

Compared with 9 Public Sector Bank

9 companies

Bank of Maharashtra against its peers

Largest 9 of 9 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
Bank of Maharashtra₹63,963 Cr8.51.524.2%+44.4%
Punjab National Bank₹1.3 L Cr6.10.913.4%+0.0%
Union Bank of India₹1.3 L Cr6.41.016.3%+23.7%
Bank of Baroda₹1.2 L Cr6.70.813.8%−12.1%
Indian Bank₹1.1 L Cr8.71.618.2%+5.9%
Canara Bank₹1.1 L Cr5.51.018.0%−6.3%
Bank of India₹61,215 Cr5.20.814.0%+6.0%
Indian Overseas Bank₹58,887 Cr10.01.812.3%−23.2%
UCO Bank₹29,154 Cr10.40.99.5%−26.9%
Central Bank of India₹27,245 Cr6.00.813.0%−20.4%
Peer median—6.40.913.8%−6.3%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns Bank of Maharashtra?

Bank of Maharashtra is held by promoters 73.6%, foreign institutions 6.5%, domestic institutions 13.8%.

Shareholding pattern

Latest filing, percent of shares
Promoters73.6%
The founders and controlling group.
Foreign institutions6.5%
Overseas funds investing through the FPI route.
Domestic institutions13.8%
Indian insurers, banks, pension and mutual funds together.
Mutual funds6.8%
Indian mutual fund schemes; part of domestic institutions.
Retail and others3.9%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about Bank of Maharashtra?

2 analysts cover Bank of Maharashtra, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

2 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does Bank of Maharashtra do and what is it sensitive to?

Bank of Maharashtra is a public sector bank under the administrative control of the Department of Financial Services, Ministry of Finance, and it takes deposits and lends across retail, agriculture, MSME and corporate segments. Sensitive to: interest rate environment.

Business-model card

FY2026 · 39 verified
4Revenue
4Channels
2Regulators
5Reg. dependencies
4Sensitivities
3Costs
2Geographies

Bank of Maharashtra is a public sector bank under the administrative control of the Department of Financial Services, Ministry of Finance, and it takes deposits and lends across retail, agriculture, MSME and corporate segments. Its reported segments are Retail Banking, Corporate/Wholesale Banking, Treasury and Other Banking, and it earns mainly interest income with fee income from products such as bancassurance.

Revenue by segment

year ended March 31, 2026 (2025-26), consolidated segment table (the one with the associates line)
Treasury21.3%
Corporate/ Wholesale33.8%
Retail Banking - Digital Banking0.0%
Retail Banking - Other Retails Banking44.3%
Other Banking Operations0.6%

Revenue engine

4 verified
Retail Banking segment
Retail loans (housing, education, vehicle, gold, personal). Interpretation: segment revenue is reported as the largest line in the business-segment table, and interest is allocated to it as the residual of total interest received less wholesale interest.
Corporate/Wholesale Banking segment
Advances to trusts, partnership firms, companies, statutory bodies and individuals that are not retail. Interest allocated on actual interest received from wholesale banking operations.
Treasury segment
Investment book, balances with banks outside India and interest accrued on investments.
1 more statement
Bancassurance commission
Bank acts as corporate agent for Life, General and Health insurance products and earns commission. Interpretation: the FY2025-26 commission total in the table is 60.09 crore.

Customers & channels

4 verified
Retail customers via doorstep banking
Cash withdrawal and fund transfer delivered at the customer's location through a third-party service provider linked to branches.
MSME borrowers
Customised MSME loan products with attractive rate of interest, extended tenor and processing-fee concessions for sub-categories including doctors, CAs, contractors and transport operators.
Government business and specialised corporate branches
Dedicated branch categories for Government Business, Corporate Finance, Mid Corporate, Treasury and International Banking, and MSMEs.
1 more statement
Digital channel
Digital business mobilisation reported as a metric. Interpretation: digital deposit mobilisation is a channel-level figure, not a revenue line.

Regulators

2 verified
Reserve Bank of India
Regulates the bank's operations, including prudential norms for NPA interest recognition, liquidity (LCR) and provisioning and capital on foreign-currency exposures.
Department of Financial Services, Ministry of Finance
Administrative control of the bank as a public sector undertaking. Government nominates and appoints all categories of directors.

Regulatory dependencies

5 verified
RBI tightening of liquidity, project finance and risk-management norms
Interpretation: tighter norms would raise liquidity buffers and risk-management costs and could restrict project-finance lending volumes.
NPA interest recognised on cash basis under RBI prudential norms
Interest on NPAs is booked only when received in cash, so changes in NPA classification directly change reported interest income.
Liquidity Coverage Ratio (LCR) in INR
Interpretation: LCR requirements constrain how much of the balance sheet can be in lower-liquidity assets and drive the stock of high-quality liquid assets held.
2 more statements
Provisioning and capital on unhedged foreign-currency exposure of borrowers
Interpretation: where borrowers hold unhedged FX exposure, RBI rules raise provisioning and capital requirements on the bank's credit exposure.
SARFAESI Act enforcement of security interest
Interpretation: this statute governs enforcement against secured loan collateral, which affects recovery on secured advances.

Sensitivities

4 verified
Interest rate environment
Direction stated: the bank pursued retail credit growth amid a firm rate environment. Interpretation: higher rates weigh on retail credit volume and the bank favoured secured lending.
Deposit competition and liquidity
Interpretation: competitive deposit pricing and liquidity conditions raise funding pressure and the bank focuses on granular and CASA deposits.
Inflation and household consumption
Stated direction: moderating inflation and healthy agricultural activity are expected to support household consumption, which supports loan demand.
1 more statement
Economic growth
Stated: GDP growth of around 7.6 per cent is estimated for FY 2025-26. Interpretation: slower growth would weaken credit demand and asset quality.

Cost inputs

3 verified
Staff cost
Employee benefit expenses (gratuity, pension, leave) are charged to profit and loss as part of staff cost.
Operating cost reduction pressure
Interpretation: the bank must cut costs to maintain profitability while growing deposits and advances, so cost efficiency is a stated pressure.
Deposit funding (granular and CASA)
Interpretation: retail and granular deposits are the main funding input for the lending book.

Geographies

2 verified
Domestic network across states and union territories
Branch and outlet network serving customers across states and union territories.
GIFT IBU international operations
International segment began operating in FY2025-26 with a small revenue and asset base in the segment tables.
Each statement is checked word for word against the FY2026 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (10 Jul 2026).

Change log

8 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Corporate actionDividend - Rs 1.20 Per Sh.
  3. Results filedQ4 FY2026 results filed.
  4. Corporate actionInterim Dividend - Re 1 Per Share.
  5. Results filedQ3 FY2026 results filed.
  6. Results filedQ2 FY2026 results filed.
  7. Results filedQ1 FY2026 results filed.
  8. Corporate actionDividend - Rs 1.50 Per Share.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 21 of 22 lender flags judged; 1 red; 1 could not be judged.
  • Data gapsBusiness quality, CASA ratio: not available yet.
Not applicable to a bank, lender or insurer · 12
  • Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
  • Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
  • Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
  • Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
  • Interest coverageInterest is a lender's main cost, not a charge on operating profit.
  • Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
  • EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
  • FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
  • Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
  • Asset turnoverA lender earns a spread on its assets, not a turnover of them.
  • ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
  • ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓270 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2026 · 39 verified

Questions people ask

What is Bank of Maharashtra's share price today?

Bank of Maharashtra last traded at ₹83.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.2% on the day, up 44.4% over a year. Its 52-week range is ₹55 to ₹94. The live price is in the app.

What is Bank of Maharashtra's market cap?

Bank of Maharashtra's market capitalisation is about ₹63,963 crore: what it would cost to buy every share at today's price. That makes it the 65th largest mid cap company we cover.

Is Bank of Maharashtra a large cap, mid cap or small cap?

Bank of Maharashtra (MAHABANK) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is Bank of Maharashtra's P/E ratio?

8.49, vs peers 6.4 · 7th of 10. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is Bank of Maharashtra overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 8.5 vs peers 6.4 (7th of 10); P/B 1.5 vs peers 0.94 (8th of 10).

How does Bank of Maharashtra make money?

Bank of Maharashtra is a public sector bank under the administrative control of the Department of Financial Services, Ministry of Finance, and it takes deposits and lends across retail, agriculture, MSME and corporate segments. Its reported segments are Retail Banking, Corporate/Wholesale Banking, Treasury and Other Banking, and it earns mainly interest income with fee income from products such as bancassurance.

Why is there no Altman Z or debt to equity for Bank of Maharashtra?

Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.

Who are Bank of Maharashtra's peers?

Compared with 9 Public Sector Bank: Punjab National Bank, Union Bank of India, Bank of Baroda, Indian Bank, Canara Bank and 4 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did Bank of Maharashtra do last quarter?

Bank of Maharashtra reported income of ₹9,064 Cr, up 15.5% on a year earlier and a net profit of ₹2,023 Cr, up 26.6% in the Jun 2026 quarter.

Who owns Bank of Maharashtra?

Bank of Maharashtra is held by promoters 73.6%, foreign institutions 6.5%, domestic institutions 13.8%.

Does Bank of Maharashtra pay a dividend?

Yes. Bank of Maharashtra's dividend yield is 1.96% at the latest price; the last payout was ₹1.20 a share, ex-dividend 5 Jun 2026.

What do analysts say about Bank of Maharashtra?

2 analysts cover Bank of Maharashtra, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on Bank of Maharashtra, and 6,621 other companies, with 212 filters and the full peer tables

See Bank of Maharashtra in the app →See pricing