āagman

Not investment advice. Data and computed figures, for information only.

Bank of Maharashtra

NSE: MAHABANKF&O
₹79.79
−₹0.37 (−0.46%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹63,963 Cr
CMP
₹79.79
52-wk High / Low
₹95 / 56
P/E
8.5
P/B
1.8
Book Value
₹46.4
Div Yield
2.65%
ROCE
6.0%
ROE
23.0%
Face Value
₹10
D/E
11.61

Price+38.6% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹98
√(22.5 × EPS × book value per share)
Cash flow to profit
−1.62
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
17.8%
ROE × earnings retention ratio
ROE stability
4.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.95DII −0.17
Latest quarter vs the previous one
Cash-accrual divergence
4.6%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.0x)
+FII holding rose by 6.2pp over the last year
+PE of 8.5x is below the sector median of 20.4x
Watch-outs
−Latest ROCE of 6.0% trails the sector median of 9.4%
−Borrowings are up 549.7% since FY2016 (5423 to 35234)
−Promoter holding fell by 17.4pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4,7895,0685,1725,4675,8756,0176,3256,7317,0547,1287,3447,7558,035
Expenses1,8822,1642,0762,3392,3492,2192,2692,5612,4142,2752,3482,3122,522
Operating Profit—————————————
OPM %—————————————
Other Income6296686801,0228947927889818258469339381,029
Interest2,4492,6362,7052,8823,0753,2103,3813,6143,7623,8803,9224,0524,264
Depreciation0000000000000
Profit before tax1,0889361,0701,2681,3441,3801,4631,5371,7031,8192,0082,3302,277
Net Profit8849201,0381,2301,2951,3331,4121,5021,5041,6691,7992,0452,023
EPS (₹)1.251.301.471.741.831.881.841.951.962.172.342.662.63

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales12,66513,05312,06211,09610,85011,49611,86913,01915,89920,49524,94829,28230,262
Expenses3,9534,3326,7098,0349,8255,3306,7887,2786,3148,5429,1079,0059,456
Operating Profit—————————————
OPM %—————————————
Other Income1,0201,0371,5251,5401,5681,6602,6492,6552,2833,0153,4763,5383,746
Interest8,7909,1748,8867,7067,1157,2166,9706,9748,15710,67213,28115,61616,119
Depreciation1151491181292412111882682622232913440
Profit before tax827435−2,126−3,232−4,7633995711,1533,4484,0725,7457,8558,433
Net Profit465118−1,356−1,112−4,7633995711,1532,6054,0725,5427,0177,536
EPS (₹)4.371.01−11.61−4.28−17.300.680.871.713.875.757.219.129.80

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 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—
Other Liabilities4,7133,9614,7653,3518,0084,3886,2996,7007,2079,0139,6738,475—
Total Liabilities1,46,0731,61,0291,59,4111,56,4491,64,6761,69,0181,96,8352,30,7832,67,8273,07,3293,69,3544,27,471—
Fixed Assets1,4321,6951,5641,4871,7411,6041,6222,0362,1492,2002,9112,954—
CWIP00223034725220581048—
Investments32,81936,30238,67743,74259,83757,89168,28168,76269,04268,46582,2161,01,588—
Other Assets1,11,8221,23,0331,19,1481,11,1891,03,0641,09,4511,26,8801,59,7801,96,6282,36,6552,84,2223,22,922—
Total Assets1,46,0731,61,0291,59,4111,56,4491,64,6761,69,0181,96,8352,30,7832,67,8273,07,3293,69,3544,27,471—
Deposits1,25,9151,42,7851,39,0401,38,9671,40,6361,50,0501,73,9892,02,2752,34,0642,70,7263,07,1203,50,538—
Borrowing7,3225,4238,1374,06410,1493,6704,2397,74710,7667,71923,85335,234—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
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

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %———————————6.0
ROE %6.01.0−17.0−13.0−60.05.05.09.017.023.023.023.0
EPS (₹)4.371.01−11.61−4.28−17.300.680.871.713.875.757.219.12
Book Value (₹)———————————46.4
Face Value (₹)———————————10
P/E———————————8.5
Div Yield %———————————2.65
NPM %3.40.8−10.0−8.8−38.43.03.97.414.317.319.521.4
OPM %————————————
D/E16.4016.7319.7114.2125.6314.0914.4814.9415.5114.0111.5311.61
P/B———————————1.8

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+8.0%
5 years+20.0%
3 years+23.0%
TTM+16.0%
Compounded profit growth
10 years+50.0%
5 years+65.0%
3 years+39.0%
TTM+31.0%
Stock price CAGR
10 years+10.0%
5 years+31.0%
3 years+22.0%
Last year+45.0%
Return on equity
10 years10.0%
5 years20.0%
3 years23.0%
Last year23.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters81.61%81.61%81.61%87.01%87.74%92.49%93.33%90.97%90.97%86.46%79.60%73.60%73.60%
FIIs0.25%0.25%0.25%0.10%0.15%0.13%0.08%0.13%0.26%1.04%1.72%5.55%6.50%
DIIs13.11%13.11%13.11%9.17%8.48%3.98%3.00%3.74%3.33%4.68%10.67%13.93%13.76%
Government—————————————
Public5.02%5.02%5.02%3.72%3.63%3.41%3.59%5.17%5.44%7.80%8.00%6.93%6.14%
No. of shareholders1,72,8691,72,8691,72,8691,83,5121,86,3581,95,7432,94,1663,74,4584,41,5178,46,74610,06,2659,01,4108,81,259
Change since Jun 2023 (pp)
Promoters −8.01FIIs +6.25DIIs +0.65Public +1.12

Documents

As of 11 Oct 2026
Announcements
Compliances-Half Yearly Report (SEBI Circular No. CIR/IMD/DF-1/67/2017)Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Change in ManagementAnnouncement under Regulation 30 (LODR)-Change in ManagementAnnouncement under Regulation 30 (LODR)-Interest Rates Updates
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Sep 2026PPTJul 2026TranscriptJul 2026PPTJul 2026RecordingApr 2026TranscriptApr 2026PPTApr 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingOct 2025TranscriptOct 2025PPTOct 2025Recording

Corporate actions

As of 5 Jun 2026
5 Jun 2026DIVIDENDDividend - Rs 1.20 Per Sh—
20 Jan 2026DIVIDENDInterim Dividend - Re 1 Per Share—
9 May 2025DIVIDENDDividend - Rs 1.50 Per Share—
10 May 2024DIVIDENDDividend - Rs 1.40 Per Share—
23 May 2023DIVIDENDDividend - Rs 1.30 Per Share—
20 Jun 2022DIVIDENDAnnual General Meeting/Dividend - Rs 0.50 Per Share—
19 Jun 2015DIVIDENDAnnual General Meeting/ Dividend - Re 0.80/- Per Share—
6 Feb 2014DIVIDENDInterim Dividend - Re 1/- Per Share (Purpose Revised)—
30 May 2013DIVIDENDAnnual General Meeting And Dividend - Rs. 2.30 Per Share—
14 Jun 2012DIVIDENDAnnual General Meeting And Dividend - Rs. 2.20 Per Share—
16 Jun 2011DIVIDENDDividend-Rs.2/- Per Share—
30 Jun 2010DIVIDENDDividend-Rs.2/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman