Bank of Maharashtra (MAHABANK)

Financial Services · Banks · NSE · Updated 14 July 2026

₹82.56 ↑ 47.22% (1Y)

🎯 Key Takeaways

Bank of Maharashtra is in a phase of accelerating growth driven by strong loan expansion and improving asset quality, with net profit growth outpacing operating profit gains. The company is transitioning from a consolidation phase to active capital deployment, supported by regulatory capital raises and consistent dividend policy.
⚠️ Slower deposit growth momentum: While deposits rose 13% YoY, the slight decline in CASA ratio to 49% may increase funding costs if deposit mobilizatio

Market Cap

₹60,010

P/E Ratio

8.6

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Bank of Maharashtra is in a phase of accelerating growth driven by strong loan expansion and improving asset quality, with net profit growth outpacing operating profit gains. The company is transitioning from a consolidation phase to active capital deployment, supported by regulatory capital raises and consistent dividend policy. Management is prioritizing balance sheet strength while expanding its advance book at a double-digit pace.

📰 What's Happening

In Q1FY27, the bank reported a 26.84% YoY jump in net profit to ₹2,020 crore, fueled by a 26.90% YoY rise in gross advances to ₹3,05,964 crore and a 19.10% YoY increase in total global business to ₹6,50,457 crore. Gross NPA declined to 1.45% and provision coverage improved to 98.55%, reflecting better credit discipline. The board also proposed a ₹1.20 per share final dividend (120% premium) at the AGM on 30 June 2026, following an interim dividend of ₹1.00. Additionally, a ₹7,500 crore equity capital raise is underway to meet Basel III requirements, with shareholder voting scheduled between 25-29 June 2026 via dematerialized holdings.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q2FY23	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	—	—	—	—	—	—
Operating Profit	—	—	—	—	—	—
OPM %	—	—	—	—	—	—
Net Profit	—	—	—	—	—	—
EPS	—	—	—	—	—	—

The financial trajectory shows a clear inflection point: profit growth is accelerating (26.84% net profit growth in Q1FY27) while asset quality improves (Gross NPA at 1.45%, provision coverage at 98.55%). Gross advances grew 26.90% YoY, indicating strong credit demand and successful outreach, particularly in retail and priority sector segments. Operating profit growth (21.29% YoY) is being outpaced by net profit growth, suggesting effective cost and provisioning management. This trend aligns with management’s focus on expanding the loan book without compromising underwriting standards, supported by stable deposit growth and improved capital ratios.

🔮 Management Outlook & What's Next

Management expressed a positive outlook, highlighting sustained momentum in business growth, asset quality improvement, and capital adequacy. The board emphasized confidence in continued profitability and regulatory compliance, with plans to raise ₹7,500 crore in equity to strengthen Basel III buffers. The proposed final dividend of ₹1.20 per share underscores commitment to shareholder returns. Management did not provide explicit forward guidance on margins or growth rates but implied continued focus on scalable, high-quality expansion in the next earnings cycle.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Banks

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
HDFC Bank Limited	11.82 L Cr	15.5	24.4%	14.3%	1.23
ICICI Bank Limited	8.92 L Cr	15.5	—	—	—
State Bank of India	8.89 L Cr	10.4	—	—	—
Axis Bank Limited	3.87 L Cr	14.6	—	—	—
Kotak Mahindra Bank Limited	3.85 L Cr	20.1	—	—	—
Bank of Baroda	1.35 L Cr	6.9	—	—	—
Union Bank of India	1.24 L Cr	6.6	—	—	—
Punjab National Bank	1.17 L Cr	6.9	—	—	—
Canara Bank	1.16 L Cr	6.8	—	—	—
Indian Bank	1.11 L Cr	9.6	—	—	—

🔗 Peer Stock Analyses

HDFCBANK ICICIBANK SBIN AXISBANK KOTAKBANK

⚠️ Risk Factors

1. Slower deposit growth momentum: While deposits rose 13% YoY, the slight decline in CASA ratio to 49% may increase funding costs if deposit mobilization weakens. 2. Capital raise execution risk: The ₹7,500 crore equity raise must be completed without diluting existing shareholders excessively or at unfavorable pricing. 3. Competitive pressures in retail lending: Accelerating advance growth could invite pricing wars or credit quality erosion if underwriting standards are compromised. 4. Regulatory scrutiny: As a public sector bank, it remains subject to policy-driven constraints and potential delays in capital market actions.

📋 Recent Filings

🧠 Analyst's Read

Bank of Maharashtra is demonstrating consistent improvement in profitability and asset quality, supported by robust loan growth and disciplined provisioning. The key next steps are successful execution of the capital raise and sustaining deposit momentum to fund expansion. Investors should monitor the AGM outcome, dividend payment timeline, and quarterly trends in CASA ratio and credit growth for early signals of long-term sustainability.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-14.

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