Bank of Maharashtra (IN:MAHABANK)
:MAHABANK
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Bank of Maharashtra
(MAHABANK)
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Rating:71Outperform
Price Target:
₹74.00
▲(17.87% Upside)
Action:N/ADate:11/18/25
Bank of Maharashtra has a strong overall stock score driven by attractive valuation and positive technical indicators. The low P/E ratio and decent dividend yield make it appealing for value investors. While financial performance is solid, challenges in revenue growth and cash flow management need attention. The absence of earnings call data and corporate events does not impact the score significantly.
Positive Factors
Diversified Business Mix
The bank serves retail, corporate, MSME, agriculture and government segments through branches and digital channels. This diversified loan and deposit mix reduces single-segment concentration risk and supports more stable net interest income across economic cycles.
Negative Factors
Negative Operating Cash Flow
Negative operating cash flow is a structural liquidity concern: recurring cash deficits can constrain deposit funding, limit lending growth or require higher-cost borrowings. Over months this stresses liquidity management and may force balance-sheet adjustments or tighter credit.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Business Mix
The bank serves retail, corporate, MSME, agriculture and government segments through branches and digital channels. This diversified loan and deposit mix reduces single-segment concentration risk and supports more stable net interest income across economic cycles.
Read all positive factors
Bank of Maharashtra (MAHABANK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹538.41B
Dividend Yield2.6%
Average Volume (3M)1.10M
Price to Earnings (P/E)6.6
Beta (1Y)1.16
Revenue Growth18.36%
EPS Growth14.53%
CountryIN
Employees13,499
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.34
Shares Outstanding7,691,555,000
10 Day Avg. Volume1,770,626
30 Day Avg. Volume1,100,294
Financial Highlights & Ratios
PEG Ratio0.21
Price to Book (P/B)1.19
Price to Sales (P/S)1.26
P/FCF Ratio-1.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹75.50Price Target Upside20.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)9.72
Revenue Forecast (FY)₹201.34B
Bank of Maharashtra Business Overview & Revenue Model
Company Description
Bank of Maharashtra provides various banking products and services in India. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking segments. It accepts savings, current, and term deposits, as well as...
How the Company Makes Money
Bank of Maharashtra primarily earns money through (1) interest income and (2) fee and other non-interest income. Interest income is generated by lending: the bank collects interest on loans and advances extended to retail customers, MSMEs, agricul...
Bank of Maharashtra Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
50
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 246.78B | 270.40B | 226.60B | 183.92B | 151.64B | 146.40B |
| Gross Profit | 139.21B | 137.59B | 119.88B | 102.36B | 81.90B | 76.70B |
| EBITDA | 63.39B | 58.32B | 42.95B | 28.67B | 14.22B | 7.60B |
| Net Income | 60.87B | 55.42B | 40.72B | 26.05B | 11.53B | 5.71B |
Balance Sheet | ||||||
| Total Assets | 3.74T | 3.69T | 3.07T | 2.68T | 2.31T | 1.97T |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 428.04B | 303.12B | 185.29B | 202.05B | 142.15B |
| Total Debt | 249.24B | 238.53B | 77.19B | 117.81B | 83.14B | 45.46B |
| Total Liabilities | 3.42T | 3.41T | 2.87T | 2.52T | 2.17T | 1.85T |
| Stockholders Equity | 313.93B | 287.08B | 198.71B | 157.90B | 140.62B | 123.08B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -292.85B | 113.02B | -17.64B | 69.24B | 22.54B |
| Operating Cash Flow | 0.00 | -287.66B | 115.81B | -14.40B | 72.33B | 24.47B |
| Investing Cash Flow | 0.00 | -4.95B | -2.60B | -1.75B | -3.00B | -1.69B |
| Financing Cash Flow | 0.00 | 411.44B | 4.61B | 2.28B | 286.64B | 2.17B |
Bank of Maharashtra Technical Analysis
Positive
62.78
Price Trends
66.62
Positive
62.78
Positive
58.99
Positive
Market Momentum
-0.13
Negative
58.24
Neutral
93.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAHABANK, the sentiment is Positive. The current price of 62.78 is below the 20-day moving average (MA) of 65.01, below the 50-day MA of 66.62, and above the 200-day MA of 58.99, indicating a bullish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 58.24 is Neutral, neither overbought nor oversold. The STOCH value of 93.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MAHABANK.
Bank of Maharashtra Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹320.60B | 6.69 | ― | 1.58% | 6.84% | 31.01% | |
75 Outperform | ₹325.40B | ― | ― | 1.35% | 17.33% | 45.79% | |
74 Outperform | ₹666.74B | 5.82 | ― | 2.87% | 14.34% | 20.97% | |
71 Outperform | ₹538.41B | 6.63 | ― | 2.60% | 18.36% | 14.53% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | ₹173.42B | 14.60 | ― | 0.26% | 18.54% | 67.80% | |
52 Neutral | ₹664.16B | 12.72 | ― | ― | ― | ― |
* Financial Sector Average
IN:MAHABANK
Bank of Maharashtra
70.00
26.54
61.08%
IN:BANKINDIA
Bank of India
146.45
43.39
42.10%
IN:CENTRALBK
Central Bank of India
35.42
2.26
6.82%
IN:IOB
Indian Overseas Bank
34.49
-0.77
-2.18%
IN:PSB
Punjab & Sind Bank Ltd.
24.44
-2.03
-7.67%
IN:UCOBANK
UCO Bank
25.95
-2.48
-8.72%
Bank of Maharashtra Corporate Events
Bank of Maharashtra Posts 18% Business Growth, Boosts Advances and CD Ratio in FY 2025-26
Apr 6, 2026
Bank of Maharashtra reported strong provisional business figures for the year ended 31 March 2026, with total business rising 18% year-on-year to ₹6.43 lakh crore and total deposits growing 14% to ₹3.51 lakh crore. CASA deposits increa...
Bank of Maharashtra Confirms SEBI Dematerialisation Compliance for March Quarter
Apr 4, 2026
Bank of Maharashtra has disclosed that its registrar and transfer agent, MCS Share Transfer Agent Limited, has certified the bank’s compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarte...
Bank of Maharashtra Confirms Unencumbered Government Promoter Stake and SEBI Compliance
Apr 4, 2026
Bank of Maharashtra has disclosed to the stock exchanges that its promoter, the President of India, held 73.60% of the bank’s equity share capital as of 31 March 2026, underscoring the government’s continued majority ownership in the l...
Bank of Maharashtra Calls March 2026 EGM to Approve Executive Director and Elect Shareholder Director
Feb 23, 2026
Bank of Maharashtra has convened an Extraordinary General Meeting on March 23, 2026, to be held via video conferencing and other audio-visual means, reflecting continued use of virtual formats for shareholder governance. The meeting will seek shar...
Bank of Maharashtra Warns of Possible Service Disruption Amid Proposed January 27 Bank Strike
Jan 23, 2026
Bank of Maharashtra has notified the stock exchanges that the United Forum of Bank Unions, comprising nine major banking unions and associations, has called for a one-day nationwide bank strike on January 27, 2026 to press for their demands. The b...
Bank of Maharashtra Publishes Q3 FY2025-26 Financial Results in Leading Dailies
Jan 14, 2026
Bank of Maharashtra has notified the stock exchanges that it has published its financial results for the quarter ended 31 December 2025 in leading English, Marathi and Hindi newspapers in compliance with SEBI’s listing and disclosure regulat...
Bank of Maharashtra Details MSME Exposure Under RBI Trade Relief Measures
Jan 13, 2026
Bank of Maharashtra has disclosed data sought during its latest earnings conference call regarding the Reserve Bank of India’s 2025 Trade Relief Measures for MSMEs, reporting that 66 borrowers are eligible under these measures with a total e...
Bank of Maharashtra Posts Q3 FY26 Earnings Call Recording Online
Jan 13, 2026
Bank of Maharashtra has notified the stock exchanges that it conducted an earnings conference call with analysts and investors to discuss its financial performance for the quarter ended December 31, 2025. The bank has made the recording of this ea...
Bank of Maharashtra Posts Q3 FY26 Earnings Call Recording Online
Jan 13, 2026
Bank of Maharashtra has informed the stock exchanges that it conducted an earnings conference call with analysts and investors to discuss its financial performance for the quarter ended December 31, 2025. The bank has uploaded the recording of thi...
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.