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Bank of Maharashtra
(MAHABANK)
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Rating:66Neutral
Price Target:
₹86.00
▲(5.30% Upside)
Action:Downgraded
Date:08/06/26
Overall score reflects strong reported profitability growth (key positive) and an attractive valuation (low P/E with dividend support), partially offset by volatile cash flows and weaker near-term technical momentum (below key short-term moving averages with negative MACD).
Positive Factors
Sustained revenue and profit scaling
Consistent multi-year revenue and net income expansion indicates durable demand across retail, MSME and corporate segments. Margin expansion to ~21% suggests improved pricing, mix and operating leverage, supporting repeatable earnings power over medium term.
Negative Factors
Highly volatile cash flows
Large swings in operating and free cash flow increase execution and refinancing risk, complicating capital allocation decisions like dividends or loan growth. Volatility undermines confidence in earnings convertibility to cash and raises sensitivity to credit-cycle shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained revenue and profit scaling
Consistent multi-year revenue and net income expansion indicates durable demand across retail, MSME and corporate segments. Margin expansion to ~21% suggests improved pricing, mix and operating leverage, supporting repeatable earnings power over medium term.
Read all positive factors
Bank of Maharashtra (MAHABANK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹646.86B
Dividend Yield2.61%
Average Volume (3M)977.75K
Price to Earnings (P/E)8.6
Beta (1Y)1.18
Revenue Growth15.23%
EPS Growth28.39%
CountryIN
Employees15,596
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)9.80
Shares Outstanding7,691,555,000
10 Day Avg. Volume1,107,001
30 Day Avg. Volume977,750
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)1.42
Price to Sales (P/S)1.44
P/FCF Ratio11.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)10.2
Revenue Forecast (FY)₹203.24B
Bank of Maharashtra Business Overview & Revenue Model
Company Description
Bank of Maharashtra, established in 1935 and headquartered in Pune, India, offers a comprehensive suite of banking and financial services across the nation. The bank's operations are segmented into Treasury, Corporate/Wholesale Banking, Retail Ban...
How the Company Makes Money
Bank of Maharashtra primarily earns money through interest-based income and fee-based income. (1) Net interest income: The bank collects interest on loans and advances to retail customers, MSMEs, agriculture borrowers, and corporate clients, and o...
Bank of Maharashtra Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
63
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 294.19B | 328.24B | 270.40B | 226.60B | 183.92B | 151.64B |
| Gross Profit | 157.62B | 145.81B | 137.59B | 119.88B | 102.36B | 81.90B |
| EBITDA | 84.33B | 82.03B | 58.32B | 42.95B | 28.67B | 14.22B |
| Net Income | 75.36B | 70.17B | 55.42B | 40.72B | 26.05B | 11.53B |
Balance Sheet | ||||||
| Total Assets | 4.26T | 4.27T | 3.69T | 3.07T | 2.68T | 2.31T |
| Cash, Cash Equivalents and Short-Term Investments | 153.76B | 277.46B | 428.04B | 303.12B | 185.29B | 202.05B |
| Total Debt | 387.49B | 352.34B | 238.53B | 77.19B | 117.81B | 83.14B |
| Total Liabilities | 3.91T | 3.94T | 3.41T | 2.87T | 2.52T | 2.17T |
| Stockholders Equity | 356.96B | 332.25B | 287.08B | 198.71B | 157.90B | 140.62B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 41.52B | -292.85B | 113.02B | -17.64B | 69.24B |
| Operating Cash Flow | 0.00 | 45.73B | -287.66B | 115.81B | -14.40B | 72.33B |
| Investing Cash Flow | 0.00 | -718.99B | -4.95B | -2.60B | -1.75B | -3.00B |
| Financing Cash Flow | 0.00 | 528.76B | 411.44B | 4.61B | 2.28B | 286.64B |
Bank of Maharashtra Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹646.48B | 5.41 | ― | 3.33% | 6.02% | 24.13% | |
66 Neutral | ₹646.86B | 8.59 | ― | 2.61% | 15.23% | 28.39% | |
63 Neutral | ₹747.50B | 31.93 | ― | 0.29% | 10.96% | 53.78% | |
58 Neutral | ₹632.19B | 10.81 | ― | 1.52% | 13.06% | 50.61% | |
56 Neutral | ₹698.06B | 19.73 | ― | 1.34% | 0.75% | 37.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹775.24B | 57.64 | ― | 0.15% | -6.52% | 31.06% |
* General Sector Average
IN:MAHABANK
Bank of Maharashtra
84.17
31.75
60.57%
IN:BANKINDIA
Bank of India
139.80
26.21
23.07%
IN:IDFCFIRSTB
IDFC First Bank Ltd.
86.20
14.38
20.03%
IN:INDUSINDBK
IndusInd Bank Ltd.
977.80
238.30
32.22%
IN:IOB
Indian Overseas Bank
33.13
-6.30
-15.98%
IN:YESBANK
Yes Bank Limited
23.47
2.61
12.51%
Bank of Maharashtra Corporate Events
Bank of Maharashtra Resets MCLR, Tweaks Short- and Medium-Term Lending Rates
Jul 24, 2026
Bank of Maharashtra has revised its benchmark lending rates under the MCLR framework, effective July 25, 2026, adjusting different tenors to reflect updated funding costs. The overnight MCLR has been reduced, while the six-month and one-year MCLRs...
Bank of Maharashtra Posts Earnings Call Recording for Q1 FY2026-27
Jul 10, 2026
Bank of Maharashtra has announced that it conducted an earnings conference call with analysts and investors to discuss its financial performance for the quarter ended 30 June 2026. The call took place on 10 July 2026, in line with regulatory discl...
Bank of Maharashtra Confirms SEBI Compliance on Dematerialisation for June Quarter
Jul 3, 2026
Bank of Maharashtra has reported that its registrar and transfer agent, MCS Share Transfer Agent Limited, has certified compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 June 20...
Bank of Maharashtra Raises Six-Month and One-Year MCLR Rates
Jun 16, 2026
Bank of Maharashtra has revised its Marginal Cost of Funds Based Lending Rate for select loan tenors, raising the six-month MCLR from 8.70% to 8.80% and the one-year MCLR from 8.85% to 8.95%, while keeping shorter tenors such as overnight, one-mon...
Bank of Maharashtra Publishes Notice of 23rd AGM in Leading Dailies
Jun 6, 2026
Bank of Maharashtra has notified stock exchanges that it has published a newspaper notice regarding its 23rd Annual General Meeting, in line with SEBI’s Listing Obligations and Disclosure Requirements. The AGM intimation has been carried in ...
Bank of Maharashtra sets June 30, 2026 AGM to clear FY26 accounts, dividend and Rs 7,500 crore capital plan
Jun 6, 2026
Bank of Maharashtra has scheduled its 23rd Annual General Meeting for 30 June 2026 at 11:00 a.m. IST, to be conducted via video conferencing and other audio-visual means, where shareholders will consider approval of the financial statements for th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.