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Last Updated on: 24 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Bank of Maharashtra: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 11:32 pm

Market Cap 40,719 Cr.
Current Price 52.9
High / Low73.5/42.8
Stock P/E8.32
Book Value 28.1
Dividend Yield2.64 %
ROCE5.38 %
ROE22.8 %
Face Value 10.0
PEG Ratio0.16

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bank of Maharashtra

Competitors of Bank of Maharashtra

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Union Bank of India 87,817 Cr. 115172/1075.72 1283.13 %6.55 %15.6 % 10.0
UCO Bank 50,060 Cr. 41.970.7/36.822.9 22.90.67 %5.34 %6.22 % 10.0
State Bank of India (SBI) 7,28,294 Cr. 816912/5619.51 4651.68 %6.16 %17.3 % 1.00
Punjab National Bank 1,14,723 Cr. 99.8143/75.67.93 1001.50 %5.46 %8.54 % 2.00
Punjab & Sind Bank 31,849 Cr. 47.077.5/40.247.2 22.90.43 %5.59 %3.88 % 10.0
Industry Average125,833.42 Cr189.1412.66148.891.96%5.88%12.90%7.25

All Competitor Stocks of Bank of Maharashtra

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Revenue3,0073,0983,1043,2073,2823,4263,4573,8154,1314,4954,7895,0685,172
Interest1,7001,7141,6971,7081,7551,8141,7721,9282,1492,3082,4492,6362,705
Expenses1,4762,4201,7401,8701,8121,3211,3491,5071,6222,0981,8822,1642,076
Financing Profit-170-1,037-334-370-28529133738035989458268390
Financing Margin %-6%-33%-11%-12%-9%8%10%10%9%2%10%5%8%
Other Income5751,237687832611522317503640822629668680
Depreciation0000000000000
Profit before tax4052003534623278136548839999111,0889361,070
Tax %62%18%41%43%1%56%31%39%22%8%19%2%3%
Net Profit1561692142743103564535357778418849201,038
EPS in Rs0.240.260.330.410.460.530.670.791.151.251.251.301.47
Gross NPA %7.69%7.23%6.35%5.56%4.73%3.94%3.74%3.40%2.94%2.47%2.28%2.19%2.04%
Net NPA %2.59%2.48%2.22%1.73%1.24%0.97%0.88%0.68%0.47%0.25%0.24%0.23%0.22%

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Revenue7,2149,61311,95712,66513,05312,06211,09610,85011,49611,86913,01915,89919,524
Interest4,6966,5808,4478,7909,1748,8867,7067,1157,2166,9706,9748,15710,098
Expenses2,4342,5303,9183,9534,3326,7098,0349,8255,3306,7887,2787,1578,221
Financing Profit83503-409-78-453-3,533-4,643-6,090-1,050-1,889-1,2335841,205
Financing Margin %1%5%-3%-1%-3%-29%-42%-56%-9%-16%-9%4%6%
Other Income6489229071,0201,0371,5251,5401,5681,6602,6492,6552,2832,798
Depreciation66741001151491181292412111882682620
Profit before tax6651,352399827435-2,126-3,232-4,7633995711,1532,6054,003
Tax %34%43%0%44%73%36%66%0%0%0%0%0%
Net Profit437769399465118-1,356-1,112-4,7633995711,1532,6053,682
EPS in Rs7.4111.634.754.371.01-11.61-4.28-17.300.680.871.713.875.27
Dividend Payout %30%20%21%18%0%0%0%0%0%0%29%34%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)75.97%-48.11%16.54%-74.62%-1249.15%17.99%-328.33%108.38%43.11%101.93%125.93%
Change in YoY Net Profit Growth (%)0.00%-124.09%64.66%-91.17%-1174.53%1267.15%-346.32%436.70%-65.27%58.82%24.01%

Bank of Maharashtra has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:14%
3 Years:20%
TTM:22%
Compounded Profit Growth
10 Years:26%
5 Years:23%
3 Years:92%
TTM:43%
Stock Price CAGR
10 Years:2%
5 Years:34%
3 Years:37%
1 Year:23%
Return on Equity
10 Years:2%
5 Years:13%
3 Years:17%
Last Year:23%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital6618391,0631,1681,1682,5982,7535,8246,5606,7306,7307,081
Reserves5,1765,9837,0607,6926,3017,4693,1305,0855,7487,3319,06012,789
Borrowings107,796125,708133,237148,208147,177143,030150,785153,720178,228210,022244,830278,445
Other Liabilities3,3473,8314,7133,9614,7653,3518,0084,3886,2996,7007,2079,013
Total Liabilities116,981136,360146,073161,029159,411156,449164,676169,018196,835230,783267,827307,329
Fixed Assets1,4291,4461,4321,6951,5641,4871,7411,6041,6222,0362,1492,200
CWIP00002230347252205810
Investments31,45837,29032,81936,30238,67743,74259,83757,89168,28168,76269,04268,465
Other Assets84,09397,625111,822123,033119,148111,189103,064109,451126,880159,780196,628236,655
Total Assets116,981136,360146,073161,029159,411156,449164,676169,018196,835230,783267,827307,329

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +12-173-1,0832,9047,498-1,723-10,8426932,4476,896-1,44011,581
Cash from Investing Activity +-126-171-151-151-99-134-106-100-169-300-175-260
Cash from Financing Activity +5422741,885-186-771,1004,220698217378228461
Net Cash Flow429-706512,5677,322-758-6,7291,2922,4956,974-1,38711,783

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow2.00-105.00-122.00-130.00-144.00-141.00-135.00-141.00-148.00-172.00-203.00-237.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
ROE %15%6%6%1%-17%-13%-60%5%5%9%17%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters90.97%90.97%90.97%90.97%90.97%90.97%90.97%86.46%86.46%86.46%86.46%86.46%
FIIs0.15%0.12%0.13%0.16%0.20%0.16%0.26%0.68%0.59%0.45%1.04%1.20%
DIIs3.67%3.70%3.74%3.74%3.78%3.39%3.33%6.43%5.17%4.71%4.68%4.58%
Public5.21%5.21%5.17%5.13%5.05%5.49%5.44%6.42%7.76%8.37%7.80%7.75%
No. of Shareholders3,52,5683,67,6053,74,4583,79,3993,71,5924,33,5064,41,5174,53,5246,06,0466,77,0878,46,7469,19,663

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India ETF Nifty PSU Bank BeES8,631,7732.4441.136,323,4442024-11-2336.5%
Kotak Nifty PSU Bank ETF6,323,4442.4530.136,323,4442024-11-230%
JM Midcap Fund3,990,0003.8119.016,323,4442024-11-23-36.9%
ITI Small Cap Fund3,940,8441.1418.786,323,4442024-11-23-37.68%
Aditya Birla Sun Life Banking And Financial Services Fund3,336,6110.5515.96,323,4442024-11-23-47.23%
Aditya Birla Sun Life PSU Equity Fund3,336,6111.1215.96,323,4442024-11-23-47.23%
Motilal Oswal Nifty Midcap 150 Index Fund454,3900.212.176,323,4442024-11-23-92.81%
Nippon India Nifty Midcap 150 Index Fund442,1740.212.116,323,4442024-11-23-93.01%
Nippon India ETF Nifty Midcap 150440,4090.212.16,323,4442024-11-23-93.04%
JM Equity Hybrid Fund350,0002.241.676,323,4442024-11-23-94.47%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
Face Value10.0010.0010.0010.0010.00
Basic EPS (Rs.)5.803.871.730.910.69
Diluted EPS (Rs.)5.803.871.730.910.69
Cash EPS (Rs.)6.044.262.111.131.03
Book Value[Excl.RevalReserv]/Share (Rs.)26.0221.2718.5516.9716.56
Book Value[Incl.RevalReserv]/Share (Rs.)28.0623.4620.8918.7618.73
Operating Revenue / Share (Rs.)28.9423.6219.3418.0919.74
Net Profit / Share (Rs.)5.733.871.710.840.66
Net Profit After MI / Share (Rs.)5.753.871.710.870.68
Net Profit Margin (%)19.7816.378.844.643.38
Net Profit After MI And SOA Nargin (%)19.8616.388.854.813.46
Operating Profit Margin (%)5.152.02-11.53-17.48-10.96
Return On Assets (%)1.320.970.490.290.23
Return On Equity / Networth (%)22.0918.199.235.134.13
Net Interest Margin (X)3.192.892.612.482.53
Cost To Income (%)37.5540.8148.1548.1042.14
Interest Income / Total Assets (%)6.665.935.646.026.80
Non-Interest Income / Total Assets (%)0.970.851.141.330.97
Operating Profit / Total Assets (%)0.340.12-0.65-1.05-0.74
Operating Expenses / Total Assets (%)1.561.461.661.811.82
Interest Expenses / Total Assets (%)3.473.043.023.544.26
Enterprise Value (Rs.Cr.)301393.81243000.21201540.00178990.69148555.64
EV Per Net Sales (X)14.7115.2815.4815.0812.92
Price To Book Value (X)2.391.160.901.230.53
Price To Sales (X)2.151.050.861.150.45
Retention Ratios (%)75.6566.4170.82100.00100.00
Earnings Yield (X)0.090.150.100.040.07

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bank of Maharashtra as of November 24, 2024 is: 54.71

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 24, 2024, Bank of Maharashtra is Undervalued by 3.42% compared to the current share price 52.90

Intrinsic Value of Bank of Maharashtra as of November 24, 2024 is: 82.40

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 24, 2024, Bank of Maharashtra is Undervalued by 55.77% compared to the current share price 52.90

Last 5 Year EPS CAGR: 50.61%

*Investments are subject to market risks

Strength and Weakness

Unable to fetch valid data for stock valuation.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bank of Maharashtra:
    1. Net Profit Margin: 19.78%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 0% (Industry Average ROCE: 5.88%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 0% (Industry Average ROE: 12.9%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 0
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 8.32 (Industry average Stock P/E: 12.66)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bank of Maharashtra is a Public Limited Listed company incorporated on 16/09/1935 and registered in the State of Maharashtra, India. Company presently involved in the business activities of Banking Business.
INDUSTRYADDRESSCONTACT
Finance - Banks - Public Sector1501, Lokmangal, Pune Maharashtra 411005investor_services@mahabank.co.in
http://www.bankofmaharashtra.in
Management
NamePosition Held
Mr. Nidhu SaxenaManaging Director & CEO
Mr. Rohit RishiExecutive Director
Mr. Asheesh PandeyExecutive Director
Mr. Rakesh KumarShareholder Director
Mr. Shashank ShrivastavaPart Time Non Official Director
Mr. S Baljit SinghPart Time Non Official Director
Dr. Abhijit PhukonGovernment Nominee Director
Mr. Sanjeev PrakashNominee Director

FAQ

What is the latest intrinsic value of Bank of Maharashtra?

The latest intrinsic value of Bank of Maharashtra as on 24 November 2024 is ₹54.71, which is 3.42% higher than the current market price of ₹52.90.

What is the Market Cap of Bank of Maharashtra?

The Market Cap of Bank of Maharashtra is 40,719 Cr..

What is the current Stock Price of Bank of Maharashtra as on 24 November 2024?

The current stock price of Bank of Maharashtra as on 24 November 2024 is 52.9.

What is the High / Low of Bank of Maharashtra stocks in FY 2024?

In FY 2024, the High / Low of Bank of Maharashtra stocks is 73.5/42.8.

What is the Stock P/E of Bank of Maharashtra?

The Stock P/E of Bank of Maharashtra is 8.32.

What is the Book Value of Bank of Maharashtra?

The Book Value of Bank of Maharashtra is 28.1.

What is the Dividend Yield of Bank of Maharashtra?

The Dividend Yield of Bank of Maharashtra is 2.64 %.

What is the ROCE of Bank of Maharashtra?

The ROCE of Bank of Maharashtra is 5.38 %.

What is the ROE of Bank of Maharashtra?

The ROE of Bank of Maharashtra is 22.8 %.

What is the Face Value of Bank of Maharashtra?

The Face Value of Bank of Maharashtra is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bank of Maharashtra. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE