Bank of Maharashtra logo

Bank of Maharashtra share price

NSE: MAHABANKBSE: 532525BanksMid Cap

Face value ₹10 · Listed Apr 2004
Last close ₹80.00up ₹3.88 (5.10%)BSE ₹78.95

Share price at the NSE close on 27 Oct 2026. Previous close ₹76.12.

27 Oct: open ₹77.00, high ₹80.50, low ₹76.57

52-week range of traded prices to 27 Oct 2026
₹55.51Low, 9 Dec 2025₹94.50High, 29 Jun 2026
Market cap
₹61,532 Cr186th largest listed
P/E
7.69
P/B
1.65
Dividend yield
2.75%
ROE
23.3%
NIM
3.83%
Gross NPA
1.25%
Net NPA
0.12%
CET1
15.61%
ROA
1.76%
Volume, NSE
4,23,66,79534.1% delivered

Bank of Maharashtra share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+35.8%over a year · Nifty PSU Bank +1.7% · Nifty 500 −8.8%

Results20-session average 1,57,12,849 shares a day, 43.2% delivered

About Bank of Maharashtra

Bank of Maharashtra is a public sector bank based in Pune, under the administrative control of the Government of India's Department of Financial Services.12 It takes deposits and lends, with a focus on retail, agriculture and MSME (micro, small and medium enterprise) loans, and offers foreign-currency banking through a unit in GIFT City, Gujarat, an international financial services centre.345

Its retail loans include housing, education, vehicle, gold and personal loans; housing loans made up about 58% of retail loans at the end of Mar 2026.6 It also sells life, general and health insurance as an agent for 8 insurance companies, and has been a depository participant (an agent that holds shares in electronic form for investors) of CDSL since September 1999.78

It was incorporated in 1935 and has 31 million customers.9 It is regulated by the Reserve Bank of India and governed by the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.1 The Government of India, its promoter, held 73.60% of its shares at 31 Dec 2025.1011 It owns all of The Maharashtra Executor & Trustee Co. Pvt. Ltd. (METCO), which acts as executor of wills and trustee, and holds 35% of Maharashtra Gramin Bank, a regional rural bank (a state-backed bank serving rural areas) it sponsors.121314

Bank of Maharashtra key points

Results

  • In the quarter to Jun 2026, net interest income (interest earned less interest paid) rose 14.53% on a year earlier, operating profit (profit before provisions and tax) was ₹3,117 crore and net profit ₹2,020 crore, up 27%.1516
  • In the year to Mar 2026, consolidated revenue was ₹32,819.94 crore, operating profit ₹10,823.86 crore and net profit ₹7,016.86 crore, against ₹5,541.78 crore a year earlier.17
  • Annualised return on equity (profit as a share of shareholders' funds) was 24.65% and return on assets 1.9% in the quarter to Jun 2026.1819
  • At the end of Jun 2026, its capital adequacy ratio (capital as a share of risk-weighted assets) was 18.64%, and 16.35% counting core capital only.20

Business segments

  • Consolidated revenue by segment, ₹ crore2122
    Itemyear to Mar 2026year to Mar 2025
    Retail banking14,552.9912,472.18
    Corporate and wholesale banking11,085.689,803.30
    Treasury6,979.465,877.89
    Other banking operations201.81270.14
    Treasury holds the bank's investments; corporate and wholesale banking covers loans to companies, trusts and firms that fall outside retail banking.

Where revenue comes from

  • Consolidated revenue, ₹ crore2324
    Itemyear to Mar 2026
    Domestic32,776.32
    International43.63
    The international business is the bank's unit in GIFT City, which had total assets of $645 million at the end of Mar 2026.

Loan book and deposits

  • Loans by sector, ₹ billion252627
    ItemJun 2026
    Corporate and others1,105.21
    Retail896.61
    MSME553.86
    Agriculture422.90
    Overseas81.06
    Total3,059.64
    Year on year at Jun 2026, total loans grew 27%: retail 25%, agriculture 30%, MSME 23% and corporate 30%.
  • Deposits were ₹3,444.93 billion at the end of Jun 2026, and current and savings accounts (CASA, deposits on which the bank pays little or no interest) were 48.51% of them.2829
  • Gold loans across agriculture, MSME and other retail lending grew by ₹13,000 crore, or 75%, year on year at Jun 2026, the company said.30

Branches and reach

  • At the end of Jun 2026 it had 2,816 branches and 2,731 ATMs across 28 states and 8 union territories.31
  • 59% of its branches are outside Maharashtra; of the 826 branches it opened since April 2022, 92% are outside the state.32
  • Over 9,000 business correspondents and bank mitras (agents who offer basic banking where there is no branch) work through 276 customer service points.33
  • The company stated in its annual report for the year to Mar 2026 that it plans to add 1,000 branches over 5 years.34

Asset quality

  • At the end of Jun 2026, gross non-performing assets (NPAs, loans that have stopped being repaid) were 1.45% of loans, net NPAs (after provisions) 0.13%, and provisions covered 98.55% of bad loans.35
  • Gross NPAs as a share of each sector's loans36
    ItemJun 2026
    Agriculture7.58%
    MSME1.60%
    Retail0.34%
  • The share of the loan book the bank counts as stressed, its stress percentage, was 3.18% at the end of Jun 2026, 140 basis points (hundredths of a percentage point) lower than a year earlier, the company said.37
  • In the quarter to Jun 2026, recoveries and upgrades (bad loans brought back to standard) came to ₹709 crore, of which about ₹490 crore was cash and ₹208 crore upgrades; it also recovered ₹305 crore from loans already written off.37

What the company expects

  • On its earnings call of 10 Jul 2026, the company said its guidance for the year to Mar 2027 is 16% to 17% growth in total business, 18% in advances and 14% in deposits; deposits grew 13% in the year to Jun 2026.3839
  • On its earnings call of 10 Jul 2026, the company said its guidance is to keep gross NPAs below 2%, net NPAs below 0.25% and credit cost (provisions for bad loans as a share of loans) below 1%.4041
  • On its earnings call of 10 Jul 2026, the company said its guidance is 15% growth in net interest income, a net interest margin (lending income less funding cost, as a share of earning assets) of 3.75%, and cost to income below 40%.424344
  • On its earnings call of 10 Jul 2026, the company said it plans to raise ₹5,000 crore of equity in the year to Mar 2027; the board, shareholders and the Reserve Bank of India have approved, and government approval is awaited.45

Recent events

  • On 1 Dec 2025, the Government of India sold 46,15,68,297 shares, 6% of the bank's paid-up capital, through an offer for sale (a sale of existing shares to investors through the stock exchange); the bank received no proceeds.46
  • The bank's unit in GIFT City, Gujarat, began operations on 12 Sep 2025, after a licence from the GIFT City regulator on 8 May 2025.47
  • From 1 May 2025, Vidarbha Konkan Gramin Bank was merged into Maharashtra Gramin Bank; the bank wrote down its investment in Maharashtra Gramin Bank by ₹280.59 crore.4849

Last updated

All 49 sources, each with its page
  1. 1. Annual report, 6 Jun 2026, page 77
  2. 2. Annual report, 6 Jun 2026, page 1
  3. 3. Investor presentation, 7 Sep 2026, page 6
  4. 4. Investor presentation, 7 Sep 2026, page 22
  5. 5. Annual report, 6 Jun 2026, page 68
  6. 6. Annual report, 6 Jun 2026, page 40
  7. 7. Annual report, 6 Jun 2026, page 46
  8. 8. Annual report, 6 Jun 2026, page 45
  9. 9. Investor presentation, 7 Sep 2026, page 6
  10. 10. Exchange filing, 22 Jan 2026, page 2
  11. 11. Annual report, 6 Jun 2026, page 35
  12. 12. Annual report, 6 Jun 2026, page 203
  13. 13. Annual report, 6 Jun 2026, page 49
  14. 14. Annual report, 6 Jun 2026, page 47
  15. 15. Earnings call, 10 Jul 2026, page 4
  16. 16. Investor presentation, 7 Sep 2026, page 17
  17. 17. Annual report, 6 Jun 2026, page 214
  18. 18. Earnings call, 10 Jul 2026, page 4
  19. 19. Investor presentation, 7 Sep 2026, page 5
  20. 20. Investor presentation, 7 Sep 2026, page 5
  21. 21. Annual report, 6 Jun 2026, page 214
  22. 22. Annual report, 6 Jun 2026, page 215
  23. 23. Annual report, 6 Jun 2026, page 215
  24. 24. Annual report, 6 Jun 2026, page 68
  25. 25. Investor presentation, 7 Sep 2026, page 31
  26. 26. Earnings call, 10 Jul 2026, page 3
  27. 27. Earnings call, 10 Jul 2026, page 20
  28. 28. Investor presentation, 7 Sep 2026, page 5
  29. 29. Investor presentation, 7 Sep 2026, page 6
  30. 30. Earnings call, 10 Jul 2026, page 20
  31. 31. Investor presentation, 7 Sep 2026, page 5
  32. 32. Investor presentation, 7 Sep 2026, page 6
  33. 33. Annual report, 6 Jun 2026, page 10
  34. 34. Annual report, 6 Jun 2026, page 12
  35. 35. Investor presentation, 7 Sep 2026, page 5
  36. 36. Earnings call, 10 Jul 2026, page 13
  37. 37. Earnings call, 10 Jul 2026, page 4
  38. 38. Earnings call, 10 Jul 2026, page 3
  39. 39. Earnings call, 10 Jul 2026, page 6
  40. 40. Earnings call, 10 Jul 2026, page 3
  41. 41. Earnings call, 10 Jul 2026, page 4
  42. 42. Earnings call, 10 Jul 2026, page 5
  43. 43. Earnings call, 10 Jul 2026, page 11
  44. 44. Earnings call, 10 Jul 2026, page 10
  45. 45. Earnings call, 10 Jul 2026, page 9
  46. 46. Annual report, 6 Jun 2026, page 35
  47. 47. Annual report, 6 Jun 2026, page 68
  48. 48. Annual report, 6 Jun 2026, page 47
  49. 49. Annual report, 6 Jun 2026, page 178

Results

Consolidated; ₹ crore. Total income is interest earned plus other income, fees and treasury gains among it.Bank of Maharashtra quarterly results

Total income growth, 12 months
+16.6%
Net profit growth, 12 months
+31.5%

Quarter to Sep 2026, against the quarter before

Total income
₹9,736 Crup 7.42%
Net profit
₹2,136 Crup 5.59%

Total income by quarter

₹7,113 CrDec 24₹7,712 CrMar 25₹7,879 CrJun 25₹7,974 CrSep 25₹8,277 CrDec 25₹8,693 CrMar 26₹9,064 CrJun 26₹9,736 CrSep 26
Peak total income ₹9,736 Cr, quarter to Sep 2026; lowest ₹7,113 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹1,412 CrDec 24₹1,502 CrMar 25₹1,504 CrJun 25₹1,669 CrSep 25₹1,799 CrDec 25₹2,045 CrMar 26₹2,023 CrJun 26₹2,136 CrSep 26
₹ croreDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Total income7,1137,7127,8797,9748,2778,6939,0649,736
Net profit1,4121,5021,5041,6691,7992,0452,0232,136
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Retail Banking Operations₹14,553 Crup 16.68%44.3%
  • Corporate / Wholesale Banking Operations₹11,086 Crup 13.08%33.8%
  • Treasury Operations₹6,979 Crup 18.74%21.3%
  • Other Banking Operations₹202 Cr0.6%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2022: days before it are of the company before the change.Bank of Maharashtra PE ratio and valuation

Price to earnings

At or below today's level on 21% of 1,239 trading days over the last 5 years.

LowestHighest
Its median8.79Industry median7.42
Price to book

At or below today's level on 63% of 1,019 trading days over the last 5 years.

LowestHighest
Its median1.48Industry median0.87
Dividend yield

At or below today's level on 83% of 2,478 trading days over the last 10 years.

LowestHighest
Its median0.00%Industry median2.59%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+35.9%+26.6%+4.5%3.6%
3 years+38.3%+33.1%+1.7%3.0%
5 years+27.6%+60.0%−22.4%3.5%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Bank of Maharashtra shareholding pattern

Shareholding by group

  • Promoters73.60%
  • Foreign institutions6.51%
  • Indian institutions13.77%
  • Individuals and others6.13%
Holder
President of IndiaPromoter73.60%
LIFE INSURANCE CORPORATION OF INDIAInsurance companies6.15%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions +0.70 pts, Indian institutions −0.50 pts, mutual funds +0.02 pts.

Mutual fund holdings

184 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 109 of the 129 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 184 funds holding Bank of Maharashtra

Bought for the first time
6
Bought again
3
Added
77
Cut
52
Held unchanged
45
Sold out
4
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.Bank of Maharashtra insider trading

Bought on the market Sold on the market
  • Promoters and promoter group0 purchases, 1 saleNo purchase₹462 CrNet−₹462 Cr
  • Others6 purchases, 8 sales₹0.39 Cr₹0.57 CrNet−₹0.18 Cr
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Bank of Maharashtra competitors and peers

Public Sector Bank, 12 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Bank of Maharashtra in market cap.Finance companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Punjab National Bank logoPunjab National BankPNB1,39,3756.100.87+2.9%+34.2%15.1%0.95%2.40%2.47%
Bank of Baroda logoBank of BarodaBANKBARODA1,20,974–0.73+2.7%––0.98%2.83%3.63%
Indian Bank logoIndian BankINDIANB1,13,1458.561.30+12.4%+17.2%16.1%1.25%3.07%2.17%
Canara Bank logoCanara BankCANBK1,07,0435.250.84−6.8%+17.7%16.8%0.99%2.21%3.56%
Bank of India logoBank of IndiaBANKINDIA60,1044.800.64+9.1%+29.7%14.1%0.92%2.47%3.52%
Indian Overseas Bank logoIndian Overseas BankIOB56,1918.431.39+14.2%+51.3%17.9%1.25%3.17%0.00%
UCO Bank logoUCO BankUCOBANK28,0389.400.81+4.4%+18.4%8.9%0.73%2.89%1.97%
Central Bank of India logoCentral Bank of IndiaCENTRALBK26,1685.430.63+8.3%+5.2%12.0%0.88%2.99%2.77%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROA is the year's profit over average total assets. NIM is net interest income over average loans and investments. Income growth is the growth of everything the company earns: interest, fees, premiums and the rest.

Dividends

Per share, by the year it was paid for, and the latest payments.Bank of Maharashtra dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 17Mar 18Mar 19Mar 20Mar 210.5Mar 221.3Mar 231.4Mar 241.5Mar 252.2Mar 26
Highest ₹2.20 a share, year to Mar 2026.
Ex-dateTypePer share
5 Jun 2026Final₹1.20
20 Jan 2026Interim₹1.00
9 May 2025Final₹1.50
10 May 2024Final₹1.40
23 May 2023Final₹1.30
20 Jun 2022Final₹0.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Bank of Maharashtra announcements

Bank of Maharashtra share price by year

Each calendar year to 2025.Bank of Maharashtra share price history

YearClose at year endChangeHighest closeLowest close
202562.05+18.9%62.0543.62
202452.19+15.6%72.5045.25
202345.15+47.5%49.5023.10
202230.60+59.4%34.3515.15
202119.20+47.1%29.0513.35
202013.05+1.2%15.558.40
201912.90−13.4%19.209.35
201814.90−34.8%23.6510.75
201722.85−20.2%38.0021.00
201628.65−9.6%34.9027.50
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 202675.7076.1272.7776.1274.591,37,84,75937.1%
23 Oct 202678.6078.9774.8575.3275.591,85,10,65250.5%
22 Oct 202679.0479.1576.8178.4877.921,15,14,45342.0%
21 Oct 202680.9881.6578.2979.0479.461,12,98,12546.5%
19 Oct 202679.8681.6379.8680.9680.721,45,65,08041.1%
16 Oct 202680.2781.0679.5079.7980.081,14,92,38846.1%
15 Oct 202682.8083.0078.6680.1680.222,09,43,10636.3%
14 Oct 202683.1083.6481.4583.1082.351,55,09,96837.5%
13 Oct 202683.4184.0982.5683.7483.111,17,03,14246.1%
Prices in ₹ per share as traded, not adjusted.

Company details